Online Home Carnival generates 70,000 potential leads

The event showcased nearly 16,000 units across 22 Indian cities

The “SBI-Magicbricks Big Bang Home Carnival” witnessed an overwhelming response from over70,000potentialbuyerswho were interested in home buying or home finance.

The one of its kind online housing festival that ended on March 9, 2018 showcased nearly 16,000 units across 22 Indian cities. Nearly 85 developers showcased 130 projects while SBI offered a host of exciting loan deals on SBI and RERA approved properties. More than 1000 properties had special deals for the home buyers. In addition, alliance partner Asian Paints offered free home consultation to all the interested home buyers.

Mr. P K Gupta, MD (R&DB), SBI, said, “Big Bang Home Carnival is a unique joint initiative taken by SBI and Magicbricks to provide a common platform to customers in their property search and online home loan journey. During the property carnival SBI offered innovative products and value added services like information on SBI and RERA approved projects, door step documentation, home loan in seven days and a pleasant online application experience to the prospective home buyers. This value proposition evoked a positive response from many first-time home buyers.”

Commenting on the culmination of Big Bang Home Carnival, Mr. Sudhir Pai, CEO – Magicbricks, said,“We have received an overwhelming response from the Big Bang Home Carnival. The bulk of home loan requests generated during a month has been phenomenal and it is testament to the fact that consumer confidence is back in the market. We are witnessing that around 50% of the searches are happening in less thanRs.50 lakh category and this was a key driver for success for this year’s Big Bang Home Carnival. The synergy in the coming together of Magicbricks and SBI has offered a greater value proposition to home buyers and we hope to make this partnership more lucrative in the forthcoming editions as well.”

About State Bank of India:
State Bank of India (SBI) the largest commercial bank in terms of assets, deposits, profits, branches, customers and employees; is also the largest mortgage lender in the country. As on December 31, 2017, the bank has a deposit base of Rs. 26.51 lakh crore with CASA ratio of 43.81% and advances of Rs. 19.25 lakh crore. SBI has 32.16% market share in home loans and 35.54% market share in auto loan. The Bank has the largest network of 22,584 branches in India and ATM network of nearly 59000 ATMs. SBI is present in 37 countries with 207 offices. SBI has 2.84 crore mobile banking users and 4.57 crore internet banking customers. On social media platforms, SBI has the highest number of followers on Facebook, Youtube, Linkedin and Pinterest. Bank tops the list of followers on Facebook and Youtube across all banks in the world.

About Magicbricks: is India’s No.1 property site. With monthly traffic exceeding 14 million visits and with an active base of over 14 lakh+ property listings, Magicbricks provides the largest platform for buyers and sellers of property to connect with each other in a clear, transparent manner. With this in mind, Magicbricks has innovated several product features, content and research services, which have helped us, build the largest audience pool.

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Latika Bhargava
Latika Bhargava successfully manages the dual responsibility of news and website management at Newsbarons. Latika prides herself at her expertise on social media planning and management. An entrepreneur at heart, Latika is a quick learner, analytical and enjoys reading on technology innovation.