Propmart, a Bangalore-based real estate consultant, on Thursday announced its foray into the metropolis with development of layout on 50 acres of land at Uragadam near Chennai.
Company chief executive officer (CEO) R Balaji said that about 500 plots with area ranging from 1,200 sq ft to 2,600 sq ft would be available under the project named 'Star Enclave.'
He said Propmart, promoted by real estate major Puravankara, had operations in major cities like Delhi, Mumbai, Pune, Kochi, Mysore and Coimbatore.
Plans were afoot to launch projects in tier-II cities like Madurai and Tiruchirapalli in Tamil Nadu, he added.
Balaji said Propmart was the only real estate consultant to provide both online and offline services. "The company's core areas of operation are both B2B (business to business) and B2C (builder to customer). For B2B, Propmart acts as a marketing process outsourcing company and for B2C, we act as a link between the end-buyers/sellers and the builders."
He said the company decided to enter Chennai market as various surveys revealed that it had been growing leaps and bounds in the last three to four years. According to a property survey, the metropolis would require at least 50,000 new houses by 2020, he added.