Times Network announced the launched of Property Now at the Big 5 Construction India conference today. Although a date for the launch has not yet been finalised the channel is expected to be out sometime in October this year. The content of the channel will be a mix of news and feature programs regarding everything regarding the real estate world as well as things related to the space.
Speaking on this M.K. Anand, MD & CEO, Times Network said, “The real estate industry is a lot more important than what it is perceived to be. As a media person and a consumer we will always be quite surprised at the level of which the real estate industry, construction industry and building industry has not been projected to the level at which it has been performing. 60% of all Indian investors go into real estate and only about 5-10% goes to the stock market but covering the stock markets are 4 TV channels, 3 or 4 major national newspaper and the real estate sector somehow does not much of a representation.”
Faye D’Souza who will be the Editor for Property Now said, “It is undeniable that the need for housing in India is a $2 trillion problem and has now got the central governments attention. According to a recent research India will need over an 11 crore homes. It is the media’s responsibility to provide the industry with the platform for the housing industry.”
“Considering that we already had the infrastructure to deliver ET Now in terms of the people, research, equipment, background, understanding and the brand, I thought it was a natural extension of that factory. Faye internally was a very good resource and had a good connect with the real estate industry. The fact that after all this over 10 times the investments normal people do go into real estate,” he said.
He further added that there will be about 2 and half hours of original content plus an hour and half of syndicated content. Faye will report to Arnab Goswami, President of News and Editor-in-Chief, Times Now and ET Now. Property Now will also be having a few brands on board as launch partners, however Anand did not reveal the brands currently. He said 50-60% of the annual revenue for the channel has come in and looks for the channel to break even within a year. “I hope to launch the channel with all my targets met,” he said. He further said the real estate market was a Rs.3000 crore ad market. They will also look to launch an app for the channel by December.