Fri Dec 20 19:35:44 UTC 2024: **SBI Mega Property Expo Showcases Hyderabad’s Booming Real Estate Market**

HYDERABAD, INDIA (December 21, 2024) – The State Bank of India (SBI) launched its fourth annual mega property expo in Hyderabad on Friday, highlighting the city’s thriving real estate sector. The three-day event, held at Hitex Exhibition Hall in Madhapur, brings together leading builders and aims to capitalize on the growing demand for housing.

SBI officials emphasized the bank’s strong position in the home loan market, noting its recent global recognition as the fourth most trustworthy bank and its projected surpassing of ₹8 trillion in home loans. The expo’s inauguration featured remarks from SBI’s Chief General Manager Rajesh Kumar, who cited government initiatives in infrastructure and tourism as key drivers of the housing boom.

Further bolstering the positive outlook, Manju Sharma, CGM REHBU, Corporate Centre Mumbai, projected a significant increase in real estate growth, from the current 7% to 17% by 2047. SBI itself is experiencing robust growth, reporting a 14% year-on-year increase.

CREDAI president Rajasekhar Reddy highlighted Hyderabad’s economic strength, noting that 115 companies invested in the city, creating over 51,000 jobs between November 2023 and December 2024. Shekar Reddy, vice-president of IGBC, added that a combination of rising land and construction costs coupled with reduced bank interest rates would stimulate growth in the affordable housing segment. The expo concludes on December 22nd.

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