Home loans to the tune of ₹700 crore were sanctioned at the three-day home loan mela organised by the Chennai Chapter of Confederation of Real Estate Developers’ Association of India (Credai), according to a senior Credai official.

The home loans were sanctioned by SBI, Indian Bank, Canara Bank, LIC, and HDFC at the mela held between 10-12 February, said CREDAI Chennai President S Sivagurunathan.

He was speaking at the inaugural ceremony of 15th edition of property and real estate exhibition ‘FAIRPRO 2023’. The 3-day expo, will see over 70 property developers showcasing plots, villas, affordable housing, retail, and commercial spaces in the price range of ₹10 lakh to ₹10 crore. The expo will be held till February 19,

P Kruthivas, Secretary, Credai Chennai and convener of FAIRPRO 2023 said the housing and real estate market witnessed a phenomenal performance in 2022, with 68 per cent year-on-year growth in sales across the country. 

“Last year, FAIRPRO Expo saw over 250 bookings, with a turnover of more than ₹200 crore. Although ₹300-plus crore is our expected sales target this year, I wouldn’t be surprised if we surpass those numbers this time,” he added.