PropertyMart, an online real estate directory of software development company, Solution Online, is eyeing non-resident Bengalis in the US for business.
The company has appointed agents in the west and east cost of North America.
Pratik Dutta, chief executive officer, Solution Online, said the portal was initially wooing NRBs keen on properties either for purchase or sale transactions in the eastern region, especially West Bengal.
The portal aimed to spread to other parts of the country. The portal, launched mid-April, would break-even in 12 months' time, Dutta claimed.
The investment in the portal would be Rs 5000,000 over two years and would be funded by a combination debt and equity. The portal had roped in Flow Consultants for marketing. PropertyMart could be divided into three sections.
One, called Propertypedia, would be providing all information including laws.
PropertyBase would be an online directory of the different stakeholders in the business while the third, PropertyExchange, would permit buying and selling of property.
Soumya Chatterjee, managing director of Flow Consultants, said advertisements and brokerage fees were the two revenue streams for the portal.
The charges on a property exchange were 2 to 2.5 per cent of the total transaction.
For advertisements, three transactions had been closed, so far. Chatterjee said, the three entities were Talbott, Pragati Infrastructure and Bengal Ambuja.
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