International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

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Volume 8 Issue 3
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Determinants of Home Loan Default Risk: A Comparative Analysis of Urban and Semi Urban Borrowers in the Mumbai Metropolitan Region

Author(s) Mr. Chaurasiya Sunil Kumar Umesh Chandra, Mr. Pal Suraj Jaykaran, Ms. Yadav Archana Vakil Kumar, Mr. Faizan Bagwan Bagwan
Country India
Abstract The Indian housing finance market has witnessed exponential growth, with the Mumbai Metropolitan Region (MMR) emerging as one of the country's largest mortgage markets. However, rising interest rates, economic volatility, and post-pandemic financial stress have heightened concerns about loan defaults. This study examines the factors influencing home loan default risk among urban and semi-urban borrowers in MMR. We surveyed 450 home loan borrowers across Mumbai city and semi-urban areas like Kalyan, Dombivli, and Thane, supplemented by 25 in-depth interviews with banking professionals and defaulting borrowers. Our findings reveal that income stability, loan-to-value ratio, and financial literacy are the strongest predictors of default risk. Semi-urban borrowers demonstrated higher vulnerability due to irregular income streams and lower emergency savings, while urban borrowers faced risks from higher debt-to-income ratios and lifestyle inflation. The study contributes to risk assessment frameworks for housing finance companies and suggests tailored intervention strategies for different demographic segments.
Keywords Home Loan Default, Credit Risk, Urban Borrowers, Semi-Urban Borrowers, Mumbai Metropolitan Region, Housing Finance, Loan Performance
Field Business Administration
Published In Volume 8, Issue 3, May-June 2026
Published On 2026-05-15
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E-ISSN 2582-2160
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IJFMR DOI prefix is
10.36948/ijfmr

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