Berkeley Group Forays into Real Estate Business

April 22, 2008	(1 votes, average: 4 out of 5)  Loading ...
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Chandigarh based Berkeley Group on Monday announced to foray into real estate business with the launch of its new company Berkeley Realtech Limited which will provide commercial, retail and industrial space on rental basis to corporate and further said that it was aiming for Rs. 300 crore of business in the first year of its operations.

“We will help the corporate in finding suitable space on rental basis in the tricity of Chandigarh, Mohali and Panchkula as per their requirements,” Berkeley Realtech Limited, Director, Sanjay Dahuja told reporters here today.

The company will also assist corporate starting from personal verification and surveying of site, proper handling of legal procedures till signing of the final agreement, he said.

The company would charge one month rental from both landlord and occupant as commission for the deal, he said.

“We have already identified 400 such locations which are available with us and we are further looking for more space so as to cater to the emerging requirements of companies,” he said.

“The tricity of Chandigarh, Mohali and Panchkula is gaining immense momentum and becoming an economic hub of Punjab, Haryana and Himachal Pradesh. As a result of it, several companies are quite keen on establishing their base make so as to mark their presence in this region,” he said.

Berkeley Group, having interest in automobiles, insurance, finance, is looking to increase its turnover from Rs 400 crore to Rs. 1000 crore by end of 2008-09, “We are expecting our sales from other businesses to increase from Rs. 400 crore to Rs. 700 crore and balance Rs 300 crore would come from realty business,” he said.

News Published Under:   Real Estate India |

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