According to a study by Equifax and Andromeda, banks and other financial institutions disbursed home loans worth Rs 9 lakh crore in the calendar year 2022, marking an 18% growth over the previous year. The study found that around 34 lakh home loans were disbursed in 2022, which was an increase of 17% in volume and 18% in value. The overall portfolio outstanding of home loans increased by 16% during the same period.
Public sector banks, which are the largest lender of home loans, saw their disbursement share decline from 45% in 2020 to 42% in 2022, while private banks witnessed the highest growth of 20%.
Loans with a ticket size of up to Rs 25 lakh accounted for 67% of the total home loans disbursed, while those between Rs 25 lakh and Rs 50 lakh made up 22%, and those between Rs 50 lakh and Rs 75 lakh made up 6%.
In terms of volumes, semi-urban areas accounted for the highest share of loans at 46%, followed by 36% in urban areas and 17% in rural areas. However, 50% of the disbursed amount went to urban areas, 39% in semi-urban areas, and 11% in rural areas.
The study also found that those aged between 31 and 40 years availed the largest chunk of home loans at 38%, followed by those between 41 and 50 years, who accounted for 28% of the loans.
The retail industry also saw significant growth, with the market size reaching Rs 100 lakh crore by December 2022, a 40% increase. Personal loans grew by 57%, consumer durable loans grew by 48%, and gold loans grew by 57%.
