AHMEDABAD: Backed by buoyant demand for affordable as well as luxury homes, the disbursals for housing finance loans are showing a steep surge. According to the latest report by State Level Bankers’ Committee (SLBC), housing finance disbursals stood at Rs 5,576 crore in the first quarter of 2021-22, up 142% against Rs 2,298 crore in the corresponding quarter of 2020-21, albeit on a low-base effect due to the lockdown imposed in most part of the first quarter last year.
According to the latest report by State Level Bankers’ Committee (SLBC), housing finance disbursals stood at Rs 2,856 crore in the first quarter of 2021-22, up 128% against Rs 1,252 crore in the corresponding quarter of 2020-21, albeit on a low-base effect due to the lockdown imposed in most part of the first quarter last year.
The 170th SLBC meeting was virtually held on Tuesday. Bankers attribute the reason to an increase in demand for new homes in the post pandemic period.
“The demand for new homes and sales have improved over a period of time. The significant surge is due to a low-base effect because last year, due to the lockdown, disbursals took a hit. While fresh uptakes slowed as people were in wait and watch mode due to the lockdown and pandemic-induced uncertainty,” said a top source in the SLBC.
“Disbursal of loans takes place as and when construction progresses. Since construction work for residential projects had come to a halt because of the lockdown, disbursals had slowed. However, this time, the demand has picked up and launching of new projects too,” said the source.
Real estate industry players also said that the demand for new homes increased in the past year. “Housing sales in the first six months of 2021 surged 67% to 4,208 units from 2,520 units in same period last year,” suggest industry estimates.
Ahmedabad witnessed a rise of 137% to 6,226 units in the first half of 2021, as compared to 2,627 units in H1 2020.
