Bangalore : The Rs.44-billion realty-cum-property developer firm Alliance Group is set to launch next month a 24-hour TV channel dedicated to real estate, a top company official said Thursday.
With an upfront investment of Rs.1 billion, the pan-Indian, English-language channel – Real Estate TV – will beam programmes on all aspects of real estate in the subcontinent, Southeast Asia and the Gulf region, home to a large number of non-resident Indians (NRIs).
"As India's first 24-hour premium channel, Real Estate TV will track the emerging trends in this burgeoning sector. As a niche medium, it will strive to be an authoritative and sought-after source for real estate information and analysis," Alliance chairman and managing director Manoj Namburu told IANS here.
Though the Bangalore-based Alliance Group is the chief promoter, the free-to-air channel will project the interests and concerns of the entire real estate sector. The sector currently lacks a media platform to disseminate information, data and market trends.
The interactive channel will be available through cable and on the DTH platform across the country. The company has hired the Insat-4A transponder to beam the programmes.
Alliance Broadcasting Ltd, a wholly owned subsidiary of the group, will operate the channel. The company has raised the necessary funds partly from internal accruals and promoters. Syndicate Bank has given Rs.150 million as loan for the venture.
"The channel will be a one-stop shop for everything connected with the sector and industries associated with it. It will showcase the Indian real estate and provide infotainment designed to meet the needs of all stakeholders in the sector as well as the public, especially existing and prospective customers," Namburu said.
Spearheaded by veteran media personality Sashi Kumar and a team of professionals headed by chief operating officer T.K. Vibhaker, the channel will have its main studio in Bangalore, with bureaus in Mumbai, Delhi, Chennai, Kolkata and Hyderabad and an information-gathering network across the country.
"The market size of the Indian real estate sector is estimated to be $16 billion currently and projected to touch a whopping $60 billion by 2010. Ironically, it has never been run professionally as in the developed countries.
"With the entry of organised players and opening up for overseas investments, the sector is gaining acceptance. We hope the government recognises our contribution to the nation in terms of business generated and employment (direct and indirect) created," Namburu noted.