Geojit launches property division

Aiming to tap the vast potential in the real estate sector, Geojit Financial Services, a leading retail financial services company, has entered this segment by launching its property services division.

The new division will offer investors and builders a single transparent platform to buy/sell office and commercial spaces, and residential apartments and flats, and would commence operations from Kochi before spreading to other major locations in the state, Geojit Financial services Managing Director, C George told reporters here.

In the second phase, the services would be launched in other South Indian states, and then to the rest of India, he said.

To start with, the services would be available to its 450,000 customers throughout the country through 500 branches, he said. A market survey conducted by Geojit showed a huge gap in this front and the division was started to fill this gap.

Joseph Niven, Vice President and Head of the new division, said the real estate sector is expected to grow at 30 per cent annualy for a decade. In Kochi, with several major projects coming up, there is likely to be a huge demand.

The division will facilitate home loans from banks and NBFCs and offer value added services such as access to architects, interior designers and property related service providers.