REBI plans 16 outlets in Orissa

Real Estate Bank India (REBI) is planning to set up 3000 franchisees across the country with 16 outlets in Orissa within a year.

In Orissa, the first property shop will be opened on September 24 in Bhubaneswar. The other property shops will be located at Rourkela, Cuttack, Jharsuguda, Barbil and Jajpur Road.

This would encourage inter and intra state real estate transaction leading to a growth of market in Orissa. The company already enjoys a presence in Karnataka, Kerala, Andhra Pradesh, Pune, West Bengal, Delhi and Tamilnadu. It is also present overseas in Srilanka. SA, UAE, Singapore, Malaysia, and Australia will be its new destinations.

Its core business involves property transactions with a retail format and plans to deliver all property transaction related services under one roof.

This would be the first property shop in Orissa, which will offer transparent and hassle free real estate transactions for customers within and outside Orissa. It would also open avenues for real estate business.

India’s realty segment has a 30-35 per cent growth per year in terms of investment.

It provides a single window service for brokerage services, financial services, database services and relocation services. It has tied up with organisations like KPMG and TCS to leverage their business process validation and technology platform.

The country’s real estate industry is currently growing at a pace of more than 25 per cent per annum. Real estate stock in India is expected to reach $1400 billion by 2010 according to CRISIL.

The company is also coming up with the country’s first real estate toll free helpline.