Industry & Economy
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Events
Prop World expo from tomorrow
Our Bureau
Chennai
,
Sept. 30
THE second edition of Prop World, a property related exhibition, will have on offer 9,000 properties and 40 builders from Chennai and Bangalore.
The exhibition will be held between October 2 and 5 and is organised by the Rotary Club of Madras in association with ICICI Bank Home Loans.
Mr P. Suresh, Chairman, Prop World, said that income-tax benefits being offered by the Government for the interest paid on home loans and also the easy availability at competitive interest rates have kick-started the demand in real estate.
In addition, Mr Suresh said that the Government has offered an income tax waiver on the income of a housing project under Section 80IB (10) provided that the project meets certain qualifying parameters. This resulted in builders going in for development of land in excess of one acre in the suburban areas.
ICICI Bank Loans will be offering spot sanction and additional benefits at the exhibition. A customer opting for spot sanction would be offered a discounted rate of 8 per cent instead of 8.25 per cent for 6 to 20 years floating rate home loans. The customer will get a floating rate home loan for tenure of up to 5 years at 7.75 per cent.
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