It is time that property retailers/consultants to take an organized approach in their dealings. According to industry sources, 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 conferencing and online connectivity. Added advantage for property buyers at Jaydaad would be no commission for any transactions.
Jaydaad has opened its first shop in Delhi, while, fifteen more are slated to be opened in January 2007, and ramp up the number to 100 such shops by March 2007. 30 franchisees of these 100 have already been finalized.
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. Now with an organized structure, Jaydaad targets to strike deals worth Rs.1,000 Crore, by March 2007.