Home Loans show a change in value from affordable to higher value in Mumbai

There are indications that the growth in home loans in mumbai is moving from low-cost properties to higher-priced properties. From Rs 20.2 lakh in FY20 to Rs 24.7 lakh in FY23, the average size of home loans has grown by 22%.

Home loan originations are shifting, both in terms of volume and value, from the ticket size range of Rs 5 lakh to Rs 35 lakh to Rs 75 lakh, according to data on home loans examined by credit bureau CRIF High Mark. According to the data, during April–June 2023, loans above Rs 75 lakh accounted for nearly 30% of new mortgage originations, while loans between Rs 35 lakh and Rs 75 lakh made up 31.4% of new loans.