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'Give loans only to projects with RERA nod'
The New Indian Express
|September 21, 2025
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.
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