Under this product, all reputed builders fulfilling the prescribed criteria by the bank can avail of loans of Rs 50-400 crore. The criteria for selecting projects includes star rating and CIBIL score. SBI has signed an agreement with Sunteck Realty for three existing projects in Mumbai Metropolitan Region.
The RBBG will build confidence among homebuyers
by securing their hard-earned money and, at the same time, will boost the under-stress real estate sector.
Meanwhile, the bank posted 17 per cent growth in its home loan portfolio for the December quarter. It has maintained its 22 per cent market share in the housing finance
market (by banks
and housing finance
companies) in the country, Kumar said.
The outstanding home loan portfolio had risen to 18.03 per cent year-on-year (YoY) to Rs 4.24 trillion at the end of September. Domestic credit expanded by 8.43 per cent YoY, driven by retail-personal advances (18.9 per cent) in the September quarter.