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Shares of Sunteck Realty surged 6.2 per cent to Rs 450.15 on the BSE on Thursday after the real estate developer entered into a memorandum of understanding (MoU) with State Bank of India (SBI) to safeguard home buyers financially under Residential Builder Finance with Buyer Guarantee programme.
Under the scheme, SBI will issue guarantee for completion of projects to customers availing SBI Home Loans. The programme -- Residential Builder Finance with Buyer Guarantee (RBBG) -- focuses on house segments with home price of upto Rs. 2.50 crores in seven Indian geographies.
"Under this product, all reputed builders fulfilling the prescribed
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