Ummeed In News
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Housing finance industry in India – Evolution and growth
In recent years, the housing finance sector in India has undergone significant growth, driven by a confluence of factors that have reshaped the industry landscape and unlocked new opportunities for expansion and innovation.
A key driver of growth in the Indian housing finance sector has been the concerted efforts of the government to promote affordable housing and homeownership. Initiatives like the Pradhan Mantri Awas Yojana (PMAY) and the Credit Linked Subsidy Scheme (CLSS) have been instrumental in providing subsidies and incentives to both first-time home buyers in the EWS, MIG and the LIG category. Approximately 35% of Ummeed’s Housing Loans customers have been eligible for these subsidies and benefitted from the government offering. These schemes have not only made homeownership more accessible to low and middle-income households but have also catalysed the growth of the housing finance sector by expanding the potential customer base.
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