Register under RERA Act to obtain loans, builders told

Vijayawada: Builders and realtors should register their projects under RERA Act to obtain bank loans, said State Bank of India (SBI) Marketing and Housing Loan AGM Vasantha Lakshmi.

She was the chief guest at the general body meeting organised by Builders Association of India (BAI) here on Thursday. Speaking on the occasion, Lakshmi said that for the upcoming world class capital, quality construction of the builders plays a key role.

She said that SBI was rendering good service to the customer for home loans, and was offering home loans for 8.35 per cent interest which was less compared to other institutions.

She further said that customers buying plots were given free processing, legal and valuation services.

She informed that on June 2 and 3, the SBI was organising a property show and customers who participate in the show would get 0.05 per cent discount on loan interest, she said.

BAI Vijayawada Chapter president A Nagamalleswara Rao said that if the builder registers under RERA, the buyers would show interest in buying the property.