'Give loans only to projects with RERA nod'
September 21, 2025
|The New Indian Express
CHENNAI'S real estate loan exposure stands at nearly ₹2.5 lakh crore, with the State Bank of India (SBI) accounting for nearly a third of the portfolio at 89,000 crore, Tamil Nadu Real Estate Regulatory Authority (TNRERA) chairman Shivdas Meena said on Saturday.
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Speaking at the fourth edition of 'Namma Dream Home Expo' at Chennai Trade Centre, Meena urged lenders to tighten due diligence and sanction loans only to projects registered with TNRERA. He said 70% of loan proceeds must be credited to the project's RERA escrow account and used exclusively for construction project-related expenses to prevent diversion of funds.
هذه القصة من طبعة September 21, 2025 من The New Indian Express.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
هل أنت مشترك بالفعل؟ تسجيل الدخول
المزيد من القصص من The New Indian Express
The New Indian Express
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