As India witnesses a boom in Real Estate, property prices have shot through the roof. Banks have become extra cautious in disbursing Home Loans and have made CIBIL Transunion Credit Score a mandatory credit assessment tool. Further, Data in 2011-12 suggests that 90% borrowers who have had the score of 750+ only have been approved of Home Loans, thus that becomes the benchmark. The scale of CIBIL Transunion Credit Score is 300 to 900.
Home Loan segment is one of the fastest growing segment as far as credit inquiries are concerned. A third of Home Loan borrowers are less than the age of 35 in India.
