UK-based real estate company to operate in India

Mumbai, May 6 (UNI) UK-based Axiom Estates today announced that it has entered the Indian market by tying up with 100 major develpopers, including 20 in the city, to provide end-to-end real estate services to NRIs and domestic customers across seven metros.

The company plans to offer a range of cross-city and international real estate investment options for its 50,000 NRI clients across the globe, domestic and mezzanine investors.

Speaking at the launch here, Axiom Estates Chairman and CEO Rajesh Goenk said ''Till now we have been marketing real estate to NRIs, but now we'll include the large emerging pan-domestic market.'' He said Axiom had offices in the four major metros of the country including support services based out of Kolkata and 20 associate offices around the world.

The company will offer a range of services including sourcing for purchase and sale, legal, analyses and taxation, services for clients. Furnishing for Mezzanine investors-buyers, who hold on to investments in real estate for 4-5 years for rental and book profit from resale, would also be undertaken.

According to study conducted by the company in seven cities in India, demand had outstripped supply with 5.1 million people expected to enter the home ownership threshold with an average buying capacity of Rs 15 lakh by 2010-11. The global economic scenario has had no perceptible impact on the real estate market with the preceived slowdown in the market caused 'hot pockets', where cartels had overpriced properties. The Indian real estate market was also heading towards maturity with market equilibrum and reduction of red tapism and duties, it revealed.

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