More than 400 projects were showcased at ‘Griha Shakti 2023’, a property show, organised by the State Bank of India (SBI) and supported by the Confederation of Real Estate Developers’ Associations of India (CREDAI) Chennai, on Friday.
The event, which is on at Chennai Trade Centre till November 5, was inaugurated by Ravi Ranjan, Chief General Manager, SBI Chennai Circle, along with S.M.V.R. Murali Krishna, General Manager, SBI Chennai Circle, Network-1, and Mehul Doshi, vice-president of CREDAI Chennai.
A release from SBI said it had reached the ₹6 trillion mark in the home loan segment, with a market share of 22%. The real estate home loan portfolio of SBI in Tamil Nadu and Puducherry is close to ₹62,000 crore, and the Chennai Zone contributes 50% of it.
According to details provided by SBI, consumers with an average age of 30 are looking to buy properties, and many of them prefer to purchase apartments. Also, people are now more keen on buying plots and constructing their own homes. “For catering to their needs we have introduced COMBO loan,” it said. The bank also said locations such as Anna Nagar, East Coast Road , Old Mahabalipuram Road, Meenambakkam, Velachery, Ambattur, and Guindy were in demand in the luxury spaces market.
The bank has 250 plus branches, seven loan processing units, two home loan sales team, one builder relation team, and over 250 home loan counsellors in the city to provide end-to-end services in this segment.
