CHENNAI: The Confederation of Real Estate Developers' Associations of India (CREDAI), Chennai Chapter is organising a home loan mela for three days starting January 28. It will be held ahead of Fairpro 2017, a property fair which will be held in Chennai Trade Centre, Nandambakkam from February 10-12.
“We want to make home buying process easier. Consumers who come for the property fair can now get an idea of how much loan they can avail from banks,” said Suresh Krishn, President, CREDAI Chennai.
“We have seen a fall in interest rates in the past couple of months and there is a positive sentiment witnessed by the real estate sector and the affordable loans for the customer will ensure that we see a good turnout this year.”
The loan mela will happen in three locations in Chennai - Vijaya Mahal in T.Nagar, The Grand Mall in Velachery and Vijay Shree Mahal in Anna Nagar. The banks participating include SBI, PNB Housing Finance Ltd., LIC Housing Finance Ltd., HDFC Home Loans, ICICI Bank, Axis Bank, Indian Bank and Aditya Birla Finance Home Loans.
In 2016, this real estate event churned businesses to the tune of Rs.450 crore. “This year we are expecting business of Rs.750 crore,” said Mr.Krishn.
B. Ramesh Babu, chief general manager, State Bank of India, said, “The housing portfolio is a huge business for us growing at 18% annually. Even in Tamil Nadu we have witnessed maximum growth in the housing sector,” he added.
