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Mumbai slips behind Pune, Delhi in home-loan demand

The Economic Times
Mumbai slips behind Pune, Delhi in home-loan demand - Delhi - Mumbai - home loan

MUMBAI: Mumbai has fallen by the wayside in the mortgage market rankings as record realty prices keep customers away, say real estate and home finance executives.

Pune and New Delhi have overtaken India's financial capital with steady demand, while Mumbai has fallen to third or fourth position for housing finance. "It used to be number one but there are not many new projects that sell in big numbers," said V Srinivas Rangan, exeutive director HDFC.

"So, most sales are outside Bombay where the value is lower. We are witnessing good volumes from the northern market, especially the National Capital Region (NCR)." In addition to affordability in the north, Mumbai real estate is seeing a slowdown due to lack of infrastructure and economic slowdown.


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