Property exchange by this June

Posted: Thursday, Feb 22, 2007 at 0000 hrs IST
Updated: Thursday, Feb 22, 2007 at 0000 hrs IST

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New Delhi, Feb 21 : Property exchanges, that are widely prevalent in real estate sector abroad, have arrived in India. A property exchange enables investors to buy and sell property (a la a stock exchange which facilitates buying and selling of shares)-whether online or offline-apart from bringing in the concept of liquidity into the market.

Jaaydaad.com is launching the National Property Stock Exchange (NPSE)—India’s first property exchange by June this year.

Property pundits opine that on parameters like safety and loss making, investment in real estate has always scored higher than stocks or gold. It is liquidity that has been an area where the sector takes a beating as compared to other investment avenues. Property exchanges hope to capitalise on the investment opportunity by taking care of this factor. “A property exchange is like a super broker, which works in a much more organised manner, on a daily basis,” said Deepak Bhavsar of Trammel Crow Meghraj.

While trading in property through local dealers and websites is widely prevalent, a property exchange does more than just that. It not only offers trading in a much more organised manner, it also offers an index of property rates across the country.

“The aim is to bring in small investors (those who want to invest as less as Rs 10,000) into the loop, enable them to reap the benefits of the real estate boom. Further, liquidity will bring in transparency into the sector as well as secured returns to investors,” said SK Jain, CMD, Jaaydaad.com.

• The aim is to bring in small investors into the loop, enable them to reap the benefits of the real estate boom

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