Housing finance company HDFC Ltd has sanctioned retail home loans totaling over Rs 2 lakh crore in the current financial year. This figure is for the period from April 1, 2021 to March 21, 2022. This is the highest in any one financial year. Last year, the company had issued home loans worth Rs 1.55 lakh crore. This was an increase of 30 per cent year-on-year. The reason for this increase was the increase in the demand for houses.
HDFC Corporation said it is emphasizing on digital initiatives and home demand has helped it achieve the target of Rs 2 lakh crore. The company set up a digital platform for loans and retail deposits, and launched ‘HDFC Customer Connect’ for all customer requests. Virtual offices for customer services were also launched.
HDFC Managing Director Renu Sood Karnad said these have been the best times for the housing sector in four and a half decades. Low interest rates, stable property prices, government’s emphasis on affordable housing, etc. have led to an increase in home purchases.