There was a time before 90’s when housing loan was too expensive in the country and was not a popular instrument. Facts speak for themselves. The housing mortgage market which stood at over $6 billion in 2001 is today estimated at a mammoth $18 billion.

Things started changing about 10 years when in a liberalized environment banks began contemplating time-tested moves (as experienced in the developed countries) in the retail loan segment to deepen the base of the financial market.