Banks are aggressively marketing their housing loan product due to its attractiveness like lower risk weight in calculation of CAR, backed by mortgage, lower default rate etc. The customers are also equally benefitted with tax shelter on interest payment and easy access. Due to its strong impact on other industries it could lead the economy from recession to boom.

The housing sector has been much in the news this year and has seen an unprecedented growth. The downward movement in interest rates, stable real estate prices, tax concessions provided by the government and the changing mindset of the middle-class customer about taking a loan, has all contributed to this boom.

Housing sector constitutes the fundamental building block for any thriving economy. This sector happens to be one of the largest employment generators and also has a direct impact on all the downstream industries especially in the core sector viz., steel, cement. That's why, since independence, the government recognized housing sector as an important segment of the economy which needs a greater push and encouragement.

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