Hyderabad: A new marketing outfit of State Bank of India (SBI), ‘Destination: The Home Shoppe’, near IKEA in Hitec City was inaugurated by Swaminathan J, Deputy Managing Director of SBI in the presence of Om Prakash Mishra, Chief General Manager, Hyderabad Circle SBI, other senior officials and office-bearers of industry associations such as CREDAI, TREDA and TBG.
At this Home Shoppe, the bank will have digital display of residential projects from leading developers and approved by SBI, according to a press release. Prospective buyers can have a detailed digital walkthrough of the participating project and it will function as a virtual property show bringing the builder, customers and SBI at one stop.
The projects approved by the bank for home loans mean due diligence in terms of legal aspects, approvals, builders’ past track record, etc. have been done by the bank ensuring faster processing of home loan saving of cost involved in obtaining legal report and valuation report, the release said.
Swaminathan said the ‘Home Shoppe’ was conceived to make search for home easier for property seekers. The bank is digitalising the home loan process and now customers can obtain in-principal approval letter through YONO App, he said.
Mishra highlighted the contribution made by real estate sector in the overall economic growth of the country and in employment generation. V Ramesh, General Manager Network I, Ramireddy, CREDAI president and Chalapati Rao, TREDA president also participated.