“We see good growth in this segment as most of the housing real estate inventory has been absorbed, and prices are firming up. There is a good demand for office space in the commercial real estate side because of offshoring. In the retail segment too, there is consolidation with a few large players accounting for most of the space,” said Anup Bagchi, executive director, ICICI Bank
“From a risk management perspective, many more developers are coming within our risk threshold. We feel that the market will improve, and because of our products and services, we will get a fair share of this market,” said Bagchi.
The real estate stack offers builders banking solutions such as the digital opening of bank accounts, instant generation of account numbers for RERA registration, construction finance, inventory funding, and lease rental discounting. In addition, it enables them to manage their payment obligations to vendors, employees, utility providers and statutory payments efficiently.
“In India, real estate is only 7% of GDP, and it should go to 13-14, which will have many positive ripple effects. In China, it is 30% of the GDP,” said Bagchi.
Besides focusing on builders, the real estate stack targets Real Estate Investment Trusts (REIT) and Alternate Investment Funds (AIFs), which channel investors into the real estate segment and free up capital for builders. The Bank offers a digital collection solution to collect funds and rentals. The Bank also has an arrangement with various leading RTAs (Registrar and Transfer Agents) to provide a digital solution to REITs and AIFs to distribute the surplus to the investors. Additionally, AIFs can also avail of custodial services and fund accounting services.
!(function(f, b, e, v, n, t, s) {
window.TimesApps = window.TimesApps || {};
const { TimesApps } = window;
TimesApps.loadFBEvents = function() {
(function(f, b, e, v, n, t, s) {
if (f.fbq) return;
n = f.fbq = function() {
n.callMethod ? n.callMethod(…arguments) : n.queue.push(arguments);
};
if (!f._fbq) f._fbq = n;
n.push = n;
n.loaded = !0;
n.version = ‘2.0’;
n.queue = [];
t = b.createElement(e);
t.async = !0;
t.src = v;
s = b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t, s);
})(f, b, e, v, n, t, s);
fbq(‘init’, ‘593671331875494’);
fbq(‘track’, ‘PageView’);
};
})(
window,
document,
‘script’,
‘https://connect.facebook.net/en_US/fbevents.js’,
);if(typeof window !== ‘undefined’) {
window.TimesApps = window.TimesApps || {};
const { TimesApps } = window;
TimesApps.loadScriptsOnceAdsReady = () => {
var scripts = [
‘https://static.clmbtech.com/ad/commons/js/2658/toi/colombia_v2.js’ ,
‘https://www.googletagmanager.com/gtag/js?id=AW-877820074’,
‘https://imasdk.googleapis.com/js/sdkloader/ima3.js’,
‘https://tvid.in/sdk/loader.js’,
‘https://timesofindia.indiatimes.com/video_comscore_api/version-3.cms’,
‘https://timesofindia.indiatimes.com/grxpushnotification_js/minify-1,version-1.cms’,
‘https://connect.facebook.net/en_US/sdk.js#version=v10.0&xfbml=true’,
‘https://timesofindia.indiatimes.com/locateservice_js/minify-1,version-14.cms’
];
scripts.forEach(function(url) {
let script = document.createElement(‘script’);
script.type=”text/javascript”;
if(!false && !false && !false && url.indexOf(‘colombia_v2’)!== -1){
script.src = url;
} else if (!false && !false && !false && url.indexOf(‘sdkloader’)!== -1) {
script.src = url;
} else if (!false && !false && (url.indexOf(‘tvid.in/sdk’) !== -1 || url.indexOf(‘connect.facebook.net’) !== -1 || url.indexOf(‘locateservice_js’) !== -1 )) {
script.src = url;
} else if (url.indexOf(‘colombia_v2’)== -1 && url.indexOf(‘sdkloader’)== -1 && url.indexOf(‘tvid.in/sdk’)== -1 && url.indexOf(‘connect.facebook.net’) == -1){
script.src = url;
}
script.async = true;
document.body.appendChild(script);
});
}
}
More News
Tata Power net profit up 11% to Rs 1,046 crore in Q4 – Times of India
AstraZeneca lifts FTSE 100 to record high; BOE rate decision on tap – Times of India
RBI lifts restrictions on Bank of Baroda’s Bob world app; bank can now onboard customers via app – Times of India