Magicbricks-SBI online home festival generates interest from 70K buyers

Realty portal Magicbricks today said that its online home festival, in tie-up with SBI, has generated interest from potential 70,000 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 company said in a statement.

The online housing festival that ended on March 9 showcased nearly 16,000 units across 22 Indian cities. Nearly 85 developers showcased 130 projects while SBI offered a host of loan deals on SBI and RERA approved properties.

More than 1,000 properties had special deals for the 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," said P K Gupta, MD (R&DB), SBI.

Commenting on the festival, Sudhir Pai, CEO of Magicbricks, said, "The bulk of home loan requests generated during a month has been phenomenal and it is testament to the fact that consumer confidence is back in the market. We are witnessing that around 50 per cent 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."