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September 06, 2012

New Age Real Estate Brokers

From Business Today
...lately a new breed of brokers has emerged, who want to break out of this image. "The first question customers ask is: 'Why should I trust you'," says Samarjit Singh, Founder and Managing Director, IndiaHomes. "So we take special pains to ensure we win their trust." Leading the pack are Investors Clinic and Better Option Propmart (BOP), which notched up revenues of Rs 148 crore and Rs 150 crore, respectively in 2011/12. The bulk of their earnings came from residential properties.

...In their wake came others. There is IndiaHomes, the reincarnated face of Agni Property, which began in 2008 as a traditional property agent, but which in early 2010 decided to concentrate on the primary home market - selling only newly built residential properties. It had revenues of Rs 26 crore in 2011/12. There is also AllCheckDeals, with revenues of Rs 17.5 crore last year, whose very name incorporates the credo that it accepts payments only by cheque. It is part of the Sanjay Bikhchandanipromoted Infoedge Group, which runs a string of classified ad sites, the best known among them. "We got the idea in 2005 following a host of calls from non-resident Indians who wanted to buy homes in India, but without the usual hassles," says Satyajit Tripathi, Business Head of AllCheckDeals.

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