India Home Loan Market to Witness 22% CAGR through 2026
Increasing population
and government push towards affordable housing to drive India home loan market
during forecast period
According to TechSci Research report, “India Home Loan Market By Customer Type, By
Loan Type, By Type, By Source, By Bank Type, By Interest Rate, By Tenure, By
Area of Property, By Mode of Purchase, By Customer Profile, By Region,
Competition, Forecast & Opportunities, 2026”, home loan market in India is projected to
grow at a CAGR of more than 22% through 2026 on account of increasing
population, rising urbanization and affordable mortgage rates. Generally,
people seek home loan for extension, renovation, repair or buying a house. Moreover,
owing to growing employment opportunities in tier 1 cities, more and more
people are shifting to these cities, which is anticipated to drive India home loan market through
2026.
Browse 45 market data Figures spread
through 75 Pages and an in-depth TOC on "India
Home Loan Market"
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In India, bank and housing finance
companies (HFCs) are the preferred sources for home loan. Banks dominated the market
in 2020 and the trend is likely to continue in the forthcoming years as well.
This is due to the fact that banks offer attractive interest rates. By Region,
India home loan market is segmented into North, South, West, and East. North
region accounted for the largest market share in 2020 and the East region is
foreseen to witness fastest CAGR during the forecast period.
In terms of Mode of Purchase, the market
is categorized into sales executive, online, direct-walk in, third party
administrators, and others. The sales executive segment accounts for the largest
market share in India home loan market. In terms of interest rates, market can
be bifurcated into fixed rate and floating rate. Floating interest rate is the
preferred choice by majority of the customers as floating interest rate loans
generally offer lower interest rates than fixed interest rate loan. Majority of
the demand for home loan comes from salaried customers. By Type, the market is
bifurcated into housing loan, and non-housing loan. Housing loan accounted the largest
market share in 2020 and the segment is anticipated to dominate during the
forecast years as well.
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Major players operating in India home
loan market include SBI Home Loans, PNB Housing Finance, HDFC Housing Finance,
LIC Housing Finance, L& T Housing Finance, Indiabulls Housing Finance,
DHFL, ICICI Housing Finance, Aadhar Housing Finance Ltd., Edelweiss Housing
Finance Ltd, Can Fin, among others. “Rising government focus towards housing
for all under Pradhan Mantri Awas Yojana and income tax rebate for interest
repayment are driving the home loan market in India. Moreover, low interest
rate scenario in India along with increasing urbanization would further steer
growth in India home loan market during forecast period.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Home Loan Market By Customer Type, By Loan
Type, By Type, By Source, By Bank Type, By Interest Rate, By Tenure, By Area of
Property, By Mode of Purchase, By Customer Profile, By Region, Competition,
Forecast & Opportunities, 2026” has analyzed the potential of home loan market across the country,
and provides statistics and information on market sizes, shares and trends. The
report will suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. Besides, the
report also identifies and analyzes emerging trends along with essential
drivers and key challenges faced by India home loan market.
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