India's largest PSU bank, State Bank of India has come up with another customer friendly initiative. In an attempt to make the process of buying residential property easier for its customers, the State Bank of India (SBI) launched 'Gruha Gamya', a free home search facility, at the Secunderabad branch of of the bank initially and may be extended to other branches in the city of Hyderabad, Andhra Pradesh. This will be very much useful for the home buyers as there will be a hassle free loan facility by the Bank.
Those want to buy a house and home loan seekers can now be able to select a property of their choice from a variety of residential projects listed on the website of the Bank. You can also avail the information of residential projects from the concerned branch of the Bank. The SBI has already partnered with 118 builders and has a listing of more than 12000 dwelling units on the website www.statebankofindia.com .
In the first phase, residential properties in seven zones of the city, Hitech City, Banjara Hills, Secunderabad, Old City, Shamshabad, Shameerpet and Dilsukhnagar are part of the Bank's database. But most of the database of homes available from Hi-tech City area. The data is designed to allow customers and users to choose a location and view available dwelling options. They can also get a map of the site, layout of the floor and contact details of the builder. The price range of the properties listed are between Rs. 20 lakh to Rs. 1 crore.
Big advantage of this service is that customers need not obtain any legal opinion or clearance on these approved projects. The legal formalities associated with the projects had already been completed by the SBI making the loan process easier for the customer. The Gruha Gamya facility is only available in Secunderabad Branch at the moment and likely to be extended to all the branches in the city in 2 or 3 months.