Commemorating its 80th anniversary celebrations, public sector Vijaya Bank has organised “Home Utsav 2011” aimed at bringing the customers and builders under one roof here.

According to Vijaya Bank Executive Director, Ms Shubhalakshmi Panse, the Utsav was a first of its kind in Chennai were by builders would have an opportunity to meet potential buyers.

“Utsav showcases and brings together builders of repute and provides one stop solution. The Bank has also proposed to extend in-principle home loan sanctions to prospective home buyers...” she told reporters after inaugurating the exhibition.

Stating that their first event was held at Bangalore, she said over Rs 120 crore on the spot business was generated during the two day show.

A senior bank official said they were expecting to generate around Rs 75-80 crore from this event. About the rising interest rates, he said despite the base rate has been increased, it would not be passed on to the housing loan borrowers and the interest rates (for the homeloans) were pegged at 10.75 per cent onwards.

Around 12 real estate builders and developers are participating in the event which would conclude on Sunday.

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