NEW DELHI: Global realty brokerage firm, Century 21 Real Estate LLC, announced on Monday about its foray into the Indian market with plans to open offices across the country, where it is expecting for a business of Rs one thousand crores in half a decade.
The US-based company plans to open one thousand offices through franchisee route. It would also have its own offices at fifty locations in the country to manage the entire operations.
Mr. Ajay Rathore, Century 21 India Country Head, said, “In the next five years, we plan to have 1,000 offices at pan-India level. We expect Rs 1 thousand crore revenue after these sub-franchisees get fully functional”. He told that the company would first start with the metros and the Tier I cities, followed by Tier II and III cities.
Mr. Rathore further said, “We will provide services in purchase of office, retail, residential spaces, land and IT parks. We also plan to have rental and leasing services for our customers. He further added, “To maintain transparencies and give best services to the customers, we will have our own offices. We have already set up five company offices in NCR. To manage all the franchisees, we will have about 50 offices in the country”. He also said that the company has already identified Bangalore, Hyderabad, Goa, Chandigarh and Chennai for setting up company offices.
Century 21 has more than eight thousand independently owned and operated broker offices in more than fifty countries and has more than one lakh sales agents across the globe.
3 Comments
The physical distribution of property has not found an organized manner in which it can be operated , the involvement of middle men or so called agents have made it difficult for the establishment of a physical system.Such an initiative can help establish such a system and organize it.
Century 21 Real Estate LLC has announced that it has signed a master franchise agreement to open CENTURY 21® franchises in Greater India. Dr. Devinder Kumar Gupta and others have partnered to become the master franchisee of the CENTURY 21 System for five regions in India, including Bangalore, Chennai, Delhi, Hyderabad, and Mumbai, operating as CENTURY 21 Greater India.
The US-based company is targeting office infrastructure of real estate in India to make its presence. This is good move by this company to target office infrastructure.