Leading bank of the country State Bank of India has decided that it will also lend money to the reputed builders also. The bank has made the developments as the prices for the construction material is constantly moving up and the banking regulators are raising the provisions on commercial real estate.
According to the bank, it will fund only those reputed builders that have got all clearances from the civil and legal authorities.
Due to the rising interest rates the bank is expecting that the demand for housing loan may dampen.
About 70 per cent people availing home loan are first time home buyer and the remaining 30 per cent do it as investment.
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