The mortgage market in Bengaluru, and Telangana - which is taken to be Hyderabad and Warangal - has witnessed a decline in registered mortgage transactions in May, 2022 compared to what was observed in April.
Tamil Nadu - which is taken to be Chennai and Coimbatore, however, has witnessed an incline in registered mortgage transactions in May compared to what was seen in April.
Mortgage Activity in Chennai and Coimbatore Has Seen an Incline in May
The increase in mortgages observed in Tamil Nadu may be attributed to the Government of Tamil Nadu's decision in April to relax regulations relating to Open Space Reservations .
Affordable Segment Continues to Drive Mortgage Markets in South India
The segment wise distribution for mortgages has not seen a change for any of the regions observed, with a predominant share taken by Affordable (ticket size < 45 lakhs) properties.
Taking a closer look at the distribution of mortgage transactions geographically, the following trends were observed:
- Bengaluru: The south-eastern regions of Bengaluru saw a large number of mortgage transactions, with Chikkanagamangala, Choodasandra, and Hulimangala emerging as top localities.
- Hyderabad: Kapra and Chilkanagar, which are areas that saw the greatest number of mortgage transactions in Hyderabad, were concentrated to the north-eastern parts of the city.
- Chennai: Mortgage transactions were strong in the central parts of Chennai, with Madhavaram and Konnur emerging as top localities.
- Coimbatore: The northern and north-eastern parts of Coimbatore saw a large share of mortgage transactions in the city, with Ganapathi and Goundampalayam receiving the most number of mortgage transactions.
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