State Bank of India (SBI) approved real estate projects refer to housing projects examined and verified by the bank. Banks undertake extensive due diligence of these projects to ensure proper title and legality while also reviewing their blueprint, building plan and construction of the project. These measures increase trustworthiness among prospective Home Loan applicants. Lenders usually offer faster loan processing and quicker disbursals to loan applicants buying home property from approved projects.
As lenders often provide the finance to their approved real estate projects, they tend to review the progress of the construction and release the money accordingly. This increases the chances of timely delivery by the developer/builders.
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