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Kolkata: The Indian homebuying market is rising. While a shift towards premium homes is one distinct tend, the other seems to be the growing significance of Millennials and Gen Z in this market. Bikash Kumar Mishra, CFO of Easy Home Finance, tells TV9 how first-time homebuyers in the country are having a big impact on the country's personal finance environment for "What we see today is not simply more people owning homes; it's also a change in the way young Indians think about money, credit, and long-term financial security".
Mishra said that while over the past few years Millennials and Gen Z have decisively emerged as a powerful force in the housing market, they are also witnessing at Easy Home Finance how applications from customers aged 25 to 35 is steadily rising. Earlier, this was a smaller portion of the mortgage borrowers.
The first point that Mishra makes is that the youth are becoming more and more comfortable using formal credit. "More and more young people see home loans as a way to build wealth, not only as long-term debts. They know a lot more about money than earlier generations when it comes to comparing interest rates, prepayment choices and repayment plans. At the same time, many people who are buying their first home still rely significantly on their own resources for the down payment. This shows that they are taking a balanced approach to borrowing and self-funding," said Mishra.
The Easy Home Finance CFO also emphasised that young buyers are preferring the digital mode. "Digital-first engagement has become the norm and customers anticipate smooth online interactions throughout the lending process. This change gives the home finance business new chances and new duties," he remarked.
This is one of the reasons many in the home finance market are undergoing to digital-first transformation. "At Easy Home Finance we're changing how we do things to better serve this new type of borrower. We're making digital underwriting stronger, speeding up the approval process, and creating loan formats that work for young professionals, whether they work for themselves or for someone else. Flexible EMI alternatives, clear communication and easy digital onboarding are becoming the most important parts of the financing experience," said Mishra.
The impact of this generational transition, Mishra averred, extends beyond the housing sector. "As more young Indians shift from renting to homeownership we expect a long-term rise in structured financial planning, disciplined credit behaviour and overall mortgage stability. First-time homeowners today are not just influencing property demand—they are redefining personal finance norms for the country," said Mishra. Companies are also sensing an opportunity here. Lenders can utilise this chance to devise new ideas to help a generation entering the official credit system with clear goals, he added.
