Business

HDFC home loan approvals cross Rs 2 lakh crore in FY22 so far

HDFC Ltd has approved retail home loans of over Rs 2 lakh crore during the period April 2021 to March 21, 2022, the highest ever in any fiscal, despite the challenges posed by the Covid pandemic.

The mortgage firm said its thrust on digital initiatives and the inherent demand for housing helped it get back to normalcy faster than expected, adding, “Over 89 per cent of retail loans are sourced online up from less than 20 per cent before Covid-19.”

Renu Sud Karnad, MD, HDFC, said, “In the past one year we have seen strong pipeline of new launches surpassing pre-pandemic levels. The demand for housing continues to be from first-time homeowners as well as those moving up the property ladder, generally into larger homes.”

“We are seeing healthy demand across metros and non-metros and demand is prevalent in affordable as well as high-end markets. The sweet spot for housing is still in the price range of Rs 50 lakh to Rs one crore,” she said.




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