Following an aggressive expansion strategy, Bengaluru-based property retail chain Real Estate Bank India Pvt Ltd, (REBI) has launched four property shops in Kolkata. The company will soon add four more stores in Kolkata by the end of this month.
Spread over an average 500-800 square feet area, the eight stores are located at Park Street, Jadavpur, Sarat Bose Roa, Salt Lake, VIP Road, Kankurgachhi, and College street.
The retail format offers all kinds of property buying solutions under one roof. The model offers buying, renting, selling services of residential, commercial, retail and IT infrastructure real estate along with necessary financial, designing and legal issues involved with property buying.
“Currently, this particular model does not have any direct competition from any of the domestic companies, but we have international competitors in each category but not in overall format.” says Hemant Sikari, Regional Head, East, REBI.
The company already has 75 operational shops in 32 cities across India and plans to open 2500 stores across the country by 2011. The company follows a franchisee format and has already registered a revenue of Rs 450 million in 2007-08. Further, the company has set a target of Rs 200 million for FY 2009-10.
— Piasi Sinha, Kolkata Bureau