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Rising interest rates pull down home loan growth to 20% says Assocham

Rising interest rates pull down home loan growth to 20% says Assocham report

Apnaloan.com Research Bureau

04 Sep 2007

The rising home loan rates may have an adverse impact on the housing loan housing sector. The home loan sector's growth is likely to fall to 20 per cent from 26.6 per cent in 2006-2007 says a report by Associated Chambers of Commerce and Industry of India (Assocham).

The home loan growth rate was 29.1% in 2005-2006, and the real estate market has witnessed a 602 per cent drop in sales.

Sales have come down drastically in metros like Delhi, Mumbai, Kolkata and Banglore.