The affordable housing segment is in the doldrums with EMIs (equated monthly instalments) of home loan customers rising by 20 per cent in the last two years and interest repayment exceeding the principal loan amount.
Floating interest rates for home loans up to Rs 30 lakh shot up from 6.7 per cent in 2021 to 9.15 per cent. Home buyers who paid EMI of around Rs 22,700 in July 2021 are now shelling out around Rs 27,300 – a rise of around Rs 4,600 per month or 20 per cent, according to an analysis by Anarock Research.
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