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National: Banks organize property exhibitions

On 2 November 2012, MCHI-CREDAI’s 20th Real Estate and Housing Finance Exhibition was inaugurated by Jairam Sridharan, Senior VP and Head – Consumer Lending and Payments, Axis Bank and Sunil V. Shaligram, General Manager and Head – Project Finance and Technical Services HDFC Ltd at Mumbai Metropolitan Region Development Authority (MMRDA) Grounds in Bandra Kurla Complex, Mumbai. As per media reports, this four day exhibition features over 15,000 properties in which nearly 120 developers are participating.
As per an article, Asia One, HDFC also plans to hold its fourth property fair on November 24-25 at Singapore Expo Hall. This particular fair targets Non Resident Indians from Singapore who find property in Chennai, National Capital Region and Mumbai most appealing.

Central Bank too plans to hold realty exhibitions in as many as approximately 100 cities of the country by March 2013. Corporation Bank too plans to organize property expos across the country and offer home loans at base rate 10.5 % minus processing fees.



It is in exhibitions like these, some banks try to waive off processing fees on home loans. In many cases, banks also offer reduced interest rates on a subsequent car loan. Corporation Bank is known to make such offers.

The State Bank of India too has reduced its processing fees on home loan and car loans by 50% til December 31. Considering these facilities, the time appears ripe to avail such loans. This information is gathered from media reports.

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