Latest News | Real Estate Sector Sees Debt Sanctions of Rs 9.63 Lakh Cr During 2018-23

New Delhi, Jun 20 (PTI) Real estate sector saw debt sanctions of Rs 9.63 lakh crore during 2018-23 and there is an opportunity of debt financing of Rs 14 lakh crore in the next three years, according to a report by JLL India and Propstack.

In their joint report -- 'Decoding Debt Financing: Opportunities in Indian Real Estate', JLL India and Propstack said the real estate sector in India witnessed debt sanctioning amounting to Rs 9,63,441 crore in the last six years.

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This averages to Rs 1,61,000 crore per annum.

"The total debt market has a potential of Rs 14,00,000 crore (USD 170 billion) financing opportunity in Indian Real Estate between 2024-2026," the consultant said.

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Upon analysing the sanctioned debt numbers across the top seven cities, the report said that Mumbai, Delhi-NCR, and Bangalore accounted for 80 per cent of the total debt sanctioned in the last six years, demonstrating their importance in the real estate market.

"However, challenges such as the IL&FS and NBFC crisis in 2018 and the impact of the pandemic in 2020 caused a slowdown in the debt market," it said.

The report mentioned that the resurgence of the real estate markets from 2021 onwards has created new opportunities for lenders and borrowers alike.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)