The Confederation of Real Estate Developers’ Associations of India (CREDAI), Chennai Chapter, started its three-day home loan mela on Friday, March 1, in T. Nagar. The mela is preceding the 16th Edition of the annual flagship property and real estate exhibition, CREDAI FAIRPRO 2024 scheduled to be held at the Chennai Trade Centre, Nandambakkam from March 8-10.
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CREDAI National Vice President S. Sridharan inaugurated the mela with Alok Kumar Chaturvedi, State Bank of India, Local Head Office, Deputy Managing Director (Retail – Personal Banking & Real Estate).
The mela will offer access to home loan products from financial institutions, and guidance on various aspects of the home buying process, including eligibility criteria, documentation requirements, loan repayment options, exclusive offers, discounts, and incentives, according to a press release.
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SBI, Canara Bank, HDFC Bank, Indian Bank, and LIC HFL are the bankers participating in this year’s Home Loan Mela 2024.
“Disbursal of home loans amounting to a maximum of ₹1,000 crore is the target. This is with the confidence that the real estate market has seen a boom after seven years in the State. This is because, during the COVID-19 pandemic, homes were the only safe spaces, and the interest in owning a home grew,” said S. Sivagurunathan, president, CREDAI Chennai.
Past presidents and FAIRPRO 2024 Convenor Aslam Packeer Mohamed and CREDAI Chennai Secretary P. Kruthivas also took part.