Forget the metros, it is the smaller cities in
At an average of barely Rs 3.4 lakh per housing loan, the residents of the Sikkimese capital may not be able to match the residents of the metros when it comes to the size of the loan, but in terms of the sheer proportion of families that are borrowing to have a nest they can call their own, small-town India is on the march.
However, in terms of the value of housing loans, Mumbai tops the list with a little under Rs 24,000 crore in 2005-06, the latest year for which detailed data is available.
How you rank the cities in terms of their propensity for housing loans depends on which parameter you choose — the volume of loans, the value of each loan, the proportion of households that borrowed or the average borrowing per household.
Look at the average value of each loan account opened in 2005-06 and the list changes. Noida now tops the list with Rs 10.5 lakh followed by Gurgaon with Rs 10.2 lakh and
Look at it in terms of the average housing loan per household and the list changes. Noida and Gurgaon remain on top with Rs 1.49 lakh and Rs 1.29 lakh respectively, but
Monday, December 10, 2007
Small towns lap up home loans
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