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Our Bureau

New Delhi , Jan. 4

Delhi-based real estate player DMC International Ltd has picked up 10 per cent stake in property shops franchising company Jaaydaad.com for Rs 4 crore. The valuation of the stock of Jaaydaad.com has been done at Rs 110 per share.

"The stake pick up will help us in marketing our products better," said Mr P.K. Awasthi, Chairman, DMC International. Tier II and tier III cities would be the focus area for construction activity of DMC, said Mr Awasthi.

Jaaydaad.com is opening nationwide chain of property shops from where property can be sold or purchased or even rented. The company has 30 franchises currently and plans to open 70 more by March. It has sold and purchased property through its franchisees worth Rs 2,000 crore since it started the franchising business last year.

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