Record 38% annual growth in bank credit to real estate reaching Rs 28 Lakh Crore in July: RBI data

  • Outstanding credits including housing and commercial real estate increased, signaling a positive outlook for the real estate sector.
  • Despite hike in interest rates, credit in housing rose 37.4% annually in July to Rs 24.28 lakh crore.
  • Industry experts attribute growth to the rising importance of property ownership, consumer confidence, rapid GDP growth, and legislative initiatives.
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