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Kolkata to boost housing finance demand says ICICI Home Finance

Kolkata to boost housing finance demand says ICICI Home Finance

Apnaloan.com Research Bureau

03 Mar 2008

According to ICICI Home Finance, Kolkata is likely to contribute to a boom to the residential financing market in the next 3 years.

The managing director and CEO of ICICI Home Finance, Sunil Rohokale was quoted in Business Standard saying, "Although the residential financing market space in India is about Rs 1 lakh crore and the market in Kolkata is around Rs 2,000 crore, it is expected to grow at a much faster rate compared to the other metros in the next 2-3 years."

Currently, Mumbai leads the residential financing market with a share of 10 per cent, followed by Delhi and Bangalore with 9 and 7 per cent respectively.

In the last two years, the real estate market attracted an investment of around $7 billion, including $3 billion from equity. Of this, the share of Kolkata was around 3.5 per cent, amounting to $150 million.