Banks see pickup in home loans
And the numbers are showing that the housing activity is again picking up momentum. According to a report by Emkay Global Financial Services, systemic monthly mortgage disbursement in February has been at a high of Rs 75,000 crore as against Rs 40,000 crore average. This is mainly due to pent-up demand driven by benign rates, attractive property prices, low stamp duty (temporary though in Maharashtra) and change in customer behaviour to house ownership/bigger house size.
Financial distributor Andromeda has clocked nearly Rs 2,100 crore in disbursement in February (up 20 per cent YoY) with home loans at Rs 1,250 crore (60 per cent of disbursement).