Released on: April 15, 2008, 1:20 am

Press Release Author: varma

Industry: Real Estate

Press Release Summary: Global realty brokerage firm Century 21 Real Estate LLC on
Monday announced its foray into the Indian market with plans to open offices across
the country, where it is eyeing a business of Rs 1,000 crore in five years.


Press Release Body: Global realty brokerage firm Century 21 Real Estate LLC on
Monday announced its foray into the Indian market with plans to open offices across
the country, where it is eyeing a business of Rs 1,000 crore in five years.

The US-based company plans to open 1,000 offices through franchisee route. It would
also have its own offices at 50 locations in the country to manage the entire
operations.

"In the next five years, we plan to have 1,000 offices at pan-India level. We expect
Rs 1,000 crore revenue after these sub-franchisees get fully functional," Century 21
India Country Head Ajay Rathore told media.

The company would first start with the metros and the Tier I cities, followed by
Tier II and III cities, he added.

"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,"
Rathore said.Some of the clients, whose properties the company would deal with,
include DLF, Unitech, Parsvnath, Omaxe, BPTP and Jaiprakash Associates among others.

"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," Rathore said.

The company has already identified Bangalore, Hyderabad, Goa, Chandigarh and Chennai
for setting up company offices, he added.
When asked about the revenue-model of the franchisee route, Rathore said the master
franchisee would get six per cent royalty fee from each transaction.

Century 21 Real Estate LLC has over 8,300 independently owned and operated broker
office in 58 countries and has 1.4 lakh sales agents across the globe.For Latest
Real Estate News: http://www.maaproperties.com/Pages/ModuleContent.aspx?Module=News


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