Housing.com has just undergone a strategic investment in Easiloan to focus on digitizing the home loan journey in India. This partnership will leverage Housing.com’s market-leading digital presence to broaden the reach of mortgage products to its network of brokers and developers.
The Growth of Home Loan Portfolio in India
The home loan portfolio in India has seen substantial growth, with a 16% increase from December 2021 to December 2022. In 2022 alone, $108.14 billion in disbursed loans were recorded. This growth is indicative of the potential that exists in the home loan market in India.
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Housing.com’s Market Presence in India
Housing.com, owned by REA India, has established itself as a leader in the Indian digital real estate market. The platform has a significant customer base that can be tapped into for the home loan origination platform.
What Does Easiloan Do?
Easiloan, founded in 2021 by Pramod Kathuria, offers personalized home loan solutions through collaborations with over 20 banks across India. The platform employs customer profile-based matchmaking, enabling users to compare, select, and process home loans seamlessly.
Housing.com & Easiloan Partnership’s Potential Impact
The partnership between Housing.com and Easiloan is designed to enhance user engagement on Housing.com’s platform and offer an avenue for enhanced revenue generation. Dhruv Agarwala, Group CEO of Housing.com, PropTiger.com, and Makaan.com, stated that mortgages are an organic expansion within the digital real estate sphere, driven by the large customer base cultivated on their platform.
What’s Next For Home Loans Space in India
The Indian government’s commitment to digitalization in the lending sector, coupled with technological advancements, has the potential to transform the home loans landscape in India. The partnership between Housing.com and Easiloan is a step towards realizing this transformation.