Sunteck Realty Limited (SRL) and State Bank of India (SBI) entered into a Memorandum of Understanding which is the first step towards boosting the residential housing sector under the Bank’s “Sapna Aapka – Bharosa SBI Ka” scheme with Bank Guarantee to Home Buyers under the Builder Finance scheme.
SBI announced Residential Builder Finance with Buyer Guarantee (RBBG) to safeguard home buyers financially by issuing guarantee for completion of projects to customers availing SBI Home Loans. Now, customers will be able to secure their investment in the ongoing home projects financed by the bank itself.
RBBG will focus on affordable housing segment with home price of upto Rs2.50cr in seven Indian geographies initially. Under this product, all reputed builders fulfilling the prescribed criteria by the bank can avail loan between Rs50cr to Rs400cr. Criteria includes Star rating and CIBIL score.
Sunteck Realty Ltd is currently trading at Rs441.65 up by Rs11.65 or 2.71% from its previous closing of Rs430 on the BSE.
The scrip opened at Rs447 and has touched a high and low of Rs450.15 and Rs439.80 respectively. So far 69,621 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs6,265.45cr.
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