Search
NPAs Rising, Growth Declining in Housing Finance: ICRA
September 07, 2017
Compared to the 19% growth in June 2016 in housing credit segment, in July 2017 it dropped to 14% because of the GST regime and the implementation of Rera that led to the expectation of declining in real estate prices and a slowdown in new project launches, rating company ICRA said.
ICRA group head Rohit Inamdar said that apart from the slow growth in real estate market the asset quality of housing finance companies has also taken a hit. From 0.84% recorded in March 2017, it deteriorated to 1.15% at the end of Q1.
