Magicbricks- SBI home carnival receives great response from potential home buyers

The "SBI - Magicbricks Big Bang Home Carnival" witnessed an overwhelming response from over 70,000 potential buyers who were interested in home buying or home finance.

The one of its kind online housing festival that ended on March 9, 2018 showcased nearly 16,000 units across 22 Indian cities. Nearly 85 developers showcased130 projects while SBI offered a host of exciting loan deals on SBI and RERA approved properties. More than 1000 properties had special deals for the home buyers. In addition, alliance partner Asian Paints offered free home consultation to all the interested home buyers.

"Big Bang Home Carnival is a unique joint initiative taken by SBI and Magicbricks to provide a common platform to customers in their property search and online home loan journey. During the property carnival SBI offered innovative products and value added services like information on SBI and RERA approved projects, door step documentation, home loan in seven days and a pleasant online application experience to the prospective home buyers. This value proposition evoked a positive response from many first-time home buyers", said P K Gupta, MD (R&DB), SBI.

"We have received an overwhelming response from the Big Bang Home Carnival. The bulk of home loan requests generated during a month have been phenomenal and it is testament to the fact that consumer confidence is back in the market. We are witnessing that around 50 percent of the searches are happening in less than Rs.50 lakh category and this was a key driver for success for this year's Big Bang Home Carnival. The synergy in the coming together of Magicbricks and SBI has offered a greater value proposition to home buyers and we hope to make this partnership more lucrative in the forthcoming editions as well." said Sudhir Pai, CEO Magicbricks.