National Housing Bank releases report on Trends and Progress of Housing in India 2024

Current Context: The National Housing Bank (NHB) released the report titled "Trends and Progress of Housing in India 2024" on March 12, 2025. This report provides a comprehensive analysis of India's housing sector, covering:

• Housing Loan Growth: Outstanding individual housing loans stood at ₹33.53 lakh crore as of September 30, 2024, reflecting a 14% year-on-year growth.
• House Price Trends: The Housing Price Index (NHB-RESIDEX) recorded a 6.8% year-on-year increase for the quarter ending September 2024.
• Government Initiatives: Highlights include PMAY-G, PMAY-U, and the Urban Infrastructure Development Fund (UIDF).
• Challenges and Opportunities: Identifies regional disparities in housing finance and emphasizes technological advancements and digitization as growth drivers.

Question:

Q.1 As per the NHB report "Trends and Progress of Housing in India 2024", what was the total outstanding individual housing loan amount as of September 30, 2024?
a) ₹30.25 lakh crore
b) ₹33.53 lakh crore
c) ₹35.10 lakh crore
d) ₹40.75 lakh crore

Answer: b) The report highlights that outstanding individual housing loans stood at ₹33.53 lakh crore as of September 30, 2024, showing a 14% year-on-year growth.