Property services division launched by Geojit

Kochi: Geojit Financial Services has announced the launch of its Property Services Division offering investors and builders a single platform to buy or sell office and commercial spaces and residential apartments or flats.

Mr C.J. George, Managing Director, told reporters that the new division would start operations in Kochi, and will gradually expand its reach to other major locations in the State. In the next phase, the other southern Stateswill be covered followed by the rest of India.

The company is also proposing to tap the large NRI and NRK populations in the Gulf to comprehensively meet their property investment needs by leveraging its presence through joint ventures in the UAE and Saudi Arabia, he said.

He pointed out that the property services do not as yet have any organised, reliable Indian broker with a pan-India presence who can offer investors and builders a single platform for property related transactions at the right price. Geojit, he said, will fill this gap. The company will act purely as an intermediary and will not enter into property development, he added.

Real estate, according to Mr George, has emerged as an important asset class for retail investors. Through this initiative, Geojit plans to move up the service-value ladder to include new asset classes that require advice and service. Mr Joseph Nivin, Vice-President and Head of the new Division, said that the property services division would be a one-stop shop offering a bouquet of services to investors and builders. The company had a tie-up with HDFC Bank for selling home loans and another tie-up with ICICI Bank will shortly be in place, he said.