Bank lending to commercial real estate, including residential projects, rose 23% last fiscal year excluding the HDFC-HDFC Bank merger. Loans totaled Rs 3.97 lakh crore. Including the merger, growth rose to 38.9%, with Rs 4.48 lakh crore in loans as of March 31.

Macrotech Developers Ltd will invest 4,500 crore rupees in the construction of real estate projects as it seeks to increase its execution capabilities in response to robust housing demand this fiscal year.