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SBI Chief: Housing Costs Rising, Need to Revisit Affordable Home Definition
SBI Chairman says rising housing costs require revisiting affordable home definition. Current affordable homes are capped at ₹45 lakh with specific carpet area limits.
Mumbai, May 9: SBI Chairman CS Setty said that rising housing costs require revisiting the definition of affordable homes, as policy incentives for lenders financing affordable housing include priority sector lending and tax sops.
Current Affordable Housing Definition
At present, a home qualifies as affordable housing if its cost is up to Rs 45 lakh and the carpet area is up to a particular size. Policy incentives for lenders financing affordable house purchases include treatment of the loans as priority sector lending and also tax sops.
SBI Housing Finance Portfolio
SBI reported a 13 per cent jump in its housing finance portfolio in FY26. Setty said that continued growth in the vertical is unlikely to move the net interest margins (NIMs) for the bank.