ICICI launches ‘Home Utsav’; loans can be digitally sanctioned

By Edil Corneille

ICICI Bank today announces the launch of ‘Home Utsav’, a virtual property exhibition that digitally showcases real estate projects by developers from key cities across India. Offers such as attractive interest rates, special processing fees, and digital sanction of loans can be availed on buying a property through the exhibition.

The first ‘Home Utsav’ exhibition has been launched for the Mumbai and Pune region, where over 100 projects by more than 60 developers are being showcased. ICICI Bank will organise ‘Home Utsav’ in other big cities across the country including Bengaluru, Chennai, Hyderabad, Kolkata, Delhi NCR, and Gujarat.

Ravi Narayanan, Head – Secured Assets, ICICI Bank enthused, “We are delighted to launch ‘Home Utsav’ to virtually showcase quality real estate projects by leading developers from various big cities of the country. The exhibition offers a unique combination of a wide range of projects and exclusive benefits like attractive interest rates, special processing fees and digital sanction of home loans, all at a single place.

We believe that this is a good opportunity for everyone, no matter if they are the Bank’s customers or not, to buy their dream homes, considering the lower home loan interest rates and reduced stamp duty on property registrations in some states like Maharashtra. We hope that this endeavour will help customers to own their dream property in a hassle-free and convenient manner.”

In August, ICICI Bank announced the usage of satellite data – imagery from Earth observation satellites – to assess the credit worthiness of its customers belonging to the farm sector. The bank has mentioned that it is the first in India and among a few globally to use satellite data to measure an array of parameters related to the land, irrigation, and crop patterns. This is used in combination with demographic and financial parameters to make expeditious lending decisions for farmers.