Trends and Progress of Housing in India 2024 Report Released by National Housing Bank (NHB)

Trends and Progress of Housing in India 2024 Report Released by National Housing Bank (NHB)

The report provides an overview of the current housing landscape, analyzes various housing schemes, and examines the role of primary lending institutions within the sector.

Key Highlights:

• Distribution of Housing Loans: Banks provide 81% of housing loans, while Housing Finance Companies (HFCs) account for 19%.

• Loan Distribution by Income Group:

  • Middle Income Group: 44%
  • EWS & Lower Income Group: 39%
  • High Income Group: 17%

• Housing Loans as a Percentage of GDP: This has increased from 6.60% in 2011-12 to 11.29% in 2023-24.

• Green Buildings: Only 5% of buildings are classified as green.

Challenges in the Housing Sector:

• Regional Disparities in Finance:

  • Southern India: 35%
  • Western India: 30%
  • Northern India: 28%
  • Eastern India: 5.4%
  • North Eastern States: 0.68%

• Climate Risks: Increased vulnerability to floods, fires, and extreme weather conditions underscores the need for resilient and energy-efficient buildings.

• Green Building Challenges: The sector faces limited certification bodies, a lack of standardized certification frameworks, and high material costs.

Opportunities:

• Technological Advancements: The use of technologies such as AI, data analytics, predictive modeling, and 3D printing can help reduce costs and accelerate project timelines.

• Increased Liquidity: Instruments like Real Estate Investment Trusts (REITs) offer smaller investors opportunities to participate in large-scale projects and provide more liquid investment options.

• Budget Push (2025-26): Initiatives like the Urban Challenge Fund and the National Geospatial Mission are expected to drive further growth in the housing sector.

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