Realty Vantage
Realty Vantage
Hunting for a home and hassled by fruitless forays around town or mired in a maze of paperwork?

Now you can walk into a store and pick your dream apartment from an ample basket of brick-and-mortar options in air-conditioned comfort, with all the linked loopholes plugged.

Realty Vantage, the “city’s first one-stop property shop”, promises to extricate the business of real estate from its often murky wheel-deal matrix and bring it under the umbrella of “organised retail”, in mall comfort.

Located inside Homeland, the home solutions mall near the Chowringhee-Elgin Road intersection, the 300-sq-ft outlet is the first in a chain of eight to 10 stops planned by Ashray Realty Management Pvt Ltd in the next two years.

“Our primary aim is to update customers on the different properties available in the market in a formatted manner. All the products on display will be scrutinised by us, from the land deed to the credibility of the builder to specifications — commitment and fulfilment,” explains Chandan Chatterjee, managing director, Ashray.

The pre-selected bouquet of properties on show at Realty Vantage will be “free of encumbrances” and could be bought off the rack like any other commodity, claims Promit Kumar Mitra, chief operating officer of the chain.

“Our presence in an upmarket mall underlines the credentials of the store. This is a visible asset of the company. There won’t be any compulsion to buy and consultation comes free,” Mitra points out.

Pradip Chopra of the PS Group, a developers’ firm in the city, feels this is an international trend and a huge value addition for real estate.

“This is probably the first-of-its-kind chain in the country and brings to the house-hunter peace of mind by carrying out the verifications on his/her behalf,” says Chopra, past secretary of Credai’s Bengal chapter.

While the basic ancillary services like home finance with multiple options will be on offer, Realty Vantage will also arrange for site visits, cheque collections, flexi-payment advice and even updating non-resident customers on project status through e-mail and snapshots.

“We are looking at a plethora of personalised services, like customised home-loan solutions, reverse mortgage and investments in real estate mutual funds. The outlets will have provision for audio-visual walkthroughs of projects with a resource café at a later date,” says Chatterjee.

While the Homeland mall outlet has been set up at a cost of Rs 22 lakh, each new store would entail an investment in the region of Rs 25-30 lakh, according to the Ashray management. The Realty Vantage chain hopes to account for 15 per cent of the organised sector business, which facilitates sale of around 1,000 apartments in the city every month.

“With 10,000-odd units to be ready for sale in the next 30 months, the product basket is only going to get bigger, and so is the demand. We hope to give the consumer definitive and informed yardsticks to make the choice easier for them,” says Dipanjan Ray, senior manager (residential services)