To offer competitive home loan rates to customers, banks and financial institutions are increasingly approaching builders for tie-ups.
Shekhar patel, president of Gujarat Institute of Housing and Estate Developers (GIHED), a body of the organized real estate developers across the state, said that many builders were taking advantage of intense competition among the financial institutions and were collaborating with four to five banks to give alternatives to their customers.
Murali Ramaswami, head of Gujarat region, Vijaya Bank, said "We met almost all the builders and offered them various housing finance schemes during the event. There were positive responses and a few of them have already shown interest in tie-ups."
Nitin Bhat, national head of a real-estate company said that because of these tie-ups financial institutions were getting business, builders were assured of their payments and customers were getting better services at lower rates.
According to SV Shah, senior marketing personnel in SBI, the bank had collaborated with the best developers in the town.
Other private sector banks like HDFC and Axis are also looking forward to such alliances.