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