New Delhi: ICICI Bank Home Loans and ICICI Bank Home Search, the property search division of ICICI Bank, will hold a three-day property exhibition at Hotel Samrat, New Delhi, from 14 to 16 September 2002.

The exhibition, styled ICICI Bank Home Utsav, will not only provide information on the various home loan schemes offered by ICICI but also has a virtual display of over 50,000 new and resale properties in and around Delhi such as Gurgaon, Noida and Ghaziabad, says ICICI Home Finance Company Ltd COO Rajiv Sabharwal.

Around 20 leading developers such as DLF Universal, Unitech, Omaxe and Ansal Housing are going to participate in this exhibition, and on display will be more than 100 projects, he adds.

ICICI Bank Home Loans will offer a discounted interest rate of 9.75 per cent to those who opt for spot sanctions for a period between six and 10 years, and a 10.25-per cent rate of interest for a repayment period stretching between 11 and 20 years. Sabharwal says the bank will also reduce the total fee, originally 1 per cent of the loan amount, to 0.5 per cent during the exhibition.

The unique selling point of this housing exhibition is that we have information on the properties as well as loan offers under one umbrella, says Sabharwal.

The company has already organised similar exhibitions in Mumbai, Chennai, Bangalore and Hyderabad. Sabharwal says the company has made around 1,000 sanctions in each of these cities during the exhibition and expect at least 10,000 walk-ins in Delhi.

The Delhi market size is around 15 per cent of the total market in India, and we expect a good response, he adds. After the exhibition in Delhi, the company plans to hold a similar exhibition in Kolkata, followed by B category towns.