Shapoorji Pallonji Real Estate and State Bank of India (SBI) have signed a Memorandum of Understanding (MoU) to enable an improved and more seamless experience for homebuyers across India.
As part of the agreement, customers of Shapoorji Pallonji Real Estate and SBI will be able to avail the benefits of faster home loan processing and approvals, and other unique value add schemes, the company said.
The MoU was signed by Venkatesh Gopalkrishnan,CEO, Shapoorji Pallonji Real Estate and Shreekant, head and chief general manager of Real Estate & Housing Business Unit (REHBU) vertical of State Bank of India.
“We are delighted to partner with State Bank of India to offer specially designed products to the customers serviced by both the companies. For homebuyers, it would mean more choice to avail innovative offerings, including faster approvals while buying homes with us. The new tie-up will cover our existing housing projects across key markets,” said Venkatesh Gopalkrishnan, CEO, Shapoorji Pallonji Real Estate.
Shapoorji Pallonji Real Estate has ongoing residential projects in Mumbai, Thane, Pune, Bengaluru, Gurugram and Kolkata. The company has a development pipeline of over 80 million sq. ft and is looking to double its top line in the next 2 to 3 years.
It is one of the top five real estate developers in India by sale. The real estate arm is planning to launch new projects and new phases in its existing projects in MMR, Pune, Gurugram, Bengaluru and Kolkata by this fiscal year.
“This collaboration with Shapoorji Pallonji Real Estate will create win-win business opportunities for all stakeholders. We sanction Home Loan in five days in all our approved projects, which is the key benefit for the customers apart from completely waiver of legal and valuation charges,” said Shreekant of State Bank of India.