2013-02-12 11:08:21 - To facilitate easy loans to prospective customers, the Confederation of Real Estate Developers’ Associations of India would bring seven leading banks under one roof this year at Fair Pro, one of the largest property fairs in the city.

At a press conference here on Friday, secretary of Confederation of Real Estate Developers’ Associations of India, Chennai, Suresh Krishn, said that the banks would hold a mega loan mela at two locations.

The first one would be held at Hotel Aloft on Old Mahabalipuram Road on February 14 and 15, targeting information technology professionals. The second would be held on February 16 and 17 at Vijay Mahal in Pondy Bazar. The loan mela held before Fair Pro would enable prospective buyers have stamp of loan approval from banks. “The visitor will know what budget they have before zeroing in on the property,” said Krishn.

This year around 70 builders would showcase more than 350 properties ranging between Rs 15 lakh and

Rs 10 crore, Krishn said.

He said this year FAIR PRO would segregate properties budget-wise. Last year’s FAIR PRO did business worth Rs 150 crore.

With the economy not doing well, CREDAI was trying different tactics to keep costs under control among the builders on one side and prospective buyers on the other. “It is here that the role of banks becomes crucial in supporting the industry,” he added.

Housing Development Finance Corporation member of executive management, Mathew Joseph, and officials from Yes Bank, India Bulls and other banks were present on the occasion