Godrej Properties Ltd signs MoU with Axis Bank

MUMBAI: Realty firm Godrej Properties (GPL) today announced here today that it has signed a memorandum of understanding (MoU) with Axis Bank to offer a special home finance solution to its customers.

"GPL has signed an MoU with Axis Bank to offer a special scheme to customers of all GPL projects, which have been approved by the bank for home loan purposes," the company said in a statement.

Under the agreement, GPL's customers will be able to get a home loan from Axis Bank after paying 10 per cent from their own resources as against the traditional 20 per cent. Besides this, they will also have the flexibility to pay the balance 10 per cent during the term of payment schedule, it said.

"This is a unique scheme in the market. We are sure that our customers will immensely benefit from this offering that will make their home purchase more affordable. This offer will also benefit young customers as the initial contribution becomes half what it would have otherwise been," GPL Vice President for marketing and sales Girish Shah said.