Mumbai, April 24:  

State Bank of India and Credai have signed a memorandum of understanding to collaborate and work towards the development of the real estate sector, specifically through affordable housing and green housing projects.

The agreement is for a period of three years.

Recently, the Confederation of Real Estate Developers’ Association of India (Credai) launched 373 affordable housing projects through its member-developers across the country for providing 2.33 lakh housing units.

The investment in these projects is pegged at over ₹70,000 crore.

For Credai members, SBI will provide interest concession of up to 35 basis points to eligible builders for construction finance.

For consumers, SBI has launched “Hamara Ghar”, an exclusive affordable housing scheme.

(This article was published on April 24, 2017)
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