Bank loans to commercial real estate, including residential construction, nearly tripled last fiscal year at 23 percent, amounting to Rs 3.97 lakh crore. If the impact of the merger of HDFC with HDFC Bank is included, the loan growth increases to 38.9 percent, with outstanding loans reaching Rs 4.48 lakh crore as of March 31. Property analysts note growth across segments, with the top seven property markets witnessing total sales of 74,486 apartments in the quarter, following a record-breaking quarter in December.