The time, it appears, has come for property retailers (consultants?) to also get organised!
Yes. According to a PTI report, Jaydaad.com (an online property portal) has decided to set up a network of 600 offline, hi-tech, retail shops across the country. This network of 600 shops at Rs. 20 lakhs per shop will require an investment of Rs. 120 crore, 20% or Rs. 24 crore of which will be invested by Jaydaad, while the balance Rs. 96 crore will be invested by its franchisees. To strike property deals, these hi-tech shops will have facilities for personal inter-action, video conferancing and online connectivity.
While the first Jaydaad shop has already opened in Delhi, fifteen more are slated to be opened in January, 2007. Plans are also afoot to increase the number to these shops to 100 in just three months i.e. by March, 2007. Thirty of the franchisees out of these 100 have already been finalised. Jaydaad has targetted to strike deals worth Rs. 1,000 crore, by March, 2007,
Property buyers at Jaydaad would henceforth be not required to pay any commission for the transactions.
Jaydaad is presently doing property business through a highly popular web portal, which is claimed to be getting 1,50,000 hits every day, one third of which are from NRIs.