Hyderabad: The real estate in Hyderabad and its surroundings is flourishing with every passing day, said bankers at the SBI Mega Property Show organised by the State Bank of India.
The two-day show that commenced on Saturday brought together a host of prominent builders, home buyers and bankers on one platform, and was inaugurated by Sreenivasulu Setty, Managing Director (R&DB), SBI.
Members of the Confederation of Real Estate Developers Associations of India, Telangana Builders Federation, Telangana Real Estate Developers Association and others participated in the property show.
“It will not be surprising if the SBI Hyderabad Circle stands out to be the number one real estate lender in India,” said Setty and mentioned that the circle is the fastest growing real estate portfolio among all its 17 circles.
Setty also added, “There is an inherent opinion that the approval systems are very stringent. However, the bank’s vested interest has always been its customers, wherein, more than 90 per cent of the buyers are first time home buyers.” The bank aims to see a paperless home loan process through 100 per cent digitisation using the Banks YONO platform with the only formality being the mortgage process.
Amit Jhingran, Chief General Manager of Hyderabad Circle, said, “SBI Hyderabad Circle is likely to become the next real estate capital of the country. It stands first in the real estate, with a growth of Rs 5,009 crore during the current financial year,” he said.
Krishan Sharma, General Manager of Hyderabad Circle, said the bank is constantly in pursuit of excellence to scale up the realty segment portfolio.