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India: Affordability of property declines for new home buyers: Icra

Posted on 04 December 2012

Housing finance penetration has remained stagnant over the past five years according to a report by ratings firms Icra. The penetration levels are far lower than those in developing economies.
“Housing Finance penetration in India increased from 4.5% as on Mar-04 to 7% as on Mar-07, however has remained at these levels over the last 5 years. This figure is however significantly lower than the penetration rates in developed countries” the Icra report said………………………………………..Full Article: Source


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