The Hindu Business Line : IndiaProperty.com to start services for NRIs

Kochi, Oct. 2 IndiaProperty.com, part of Bharatmatrimony Group, is planning to provide a service for NRIs to identify properties and buy residential projects in various parts of Kerala through its portal.

Mr T. Shrikanth, National Head (Sales and Operations), IndiaProperty.com said that the NRIs, particularly from the Gulf countries, perceived Kerala as a better yielding destination.

Preferred destination

Though residential properties have found minor setbacks, Kochi is still preferred in the investment circles in the State paving opportunities for builders to meet the constant demand, he said.

The services to NRIs will be launched shortly and it will be on a subscription-based model, he said adding that the portal provides an ideal medium for independent owners, real estate apartments and builders to advertise their links on the net. He claimed that IndiaProperty.com has already done a business of Rs 70 lakh to Rs 1 crore in Kerala last year through space selling.

Though there is sluggishness in the realty market in the country, it has not been witnessed in Kochi because most of the properties are booked by NRIs, he said.

Solid Grounds

IndiaProperty.com had also organised Solid Grounds, an interactive platform for the builders here. The session which was largely attended by various builders was distinct with its objective of sharing the dynamics of the real estate industry in the State.

Mr V. Gopalakrishna Pillai, Head of Planning Dept of GCDA, while presenting the Town Planning and Infrastructure of the City, spoke about the new roads and planning for the city which was to come up.

With considerable infrastructural development under progress such as Smart City, Ring Roads, parking for commercial project, Metro Rail Service and so on, Mr Pillai envisioned Kochi as a major commercial and residential capital of the state in the future.

The recent concept of REMFs was discussed in detail by Mr Ajay Rotti, Associate Director, BMR and Associates, Bangalore. At a time when fund creation has become more of a challenge for the builder fraternity, he recommended realty funds to be an alternative solution for those wanting to raise equity funds.

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