Online property consultant, Jaaydaad.com, is taking up an offline network expansion as it plans to strike deals worth Rs 1,000 crore (Rs 10 billion) by March next year.

The company, with projects worth around Rs 3,000 crore (Rs 30 billion), is taking the franchising route to open 600 property shops across the country.

"We are opening high tech property showrooms where customers can buy and sell their properties through personal

interaction, Internet and even video conferencing, Jaaydaad.com chairman and managing director S K Jain said.

The company will contribute 20 per cent of the total investment of Rs 120 crore (Rs 1.20 billion) required to open these 600 shops and the rest would be made by the franchisees.

Jaaydaad.com will invest  Rs 24 crore (Rs 240 million) for setting up the chain and rest will be funded by the franchise partners, he added.

It has already set up one shop in Delhi and another 15 franchisees would be operational by January. By the end of March 2007 this figure will touch 100, out of which 30 have already been finalised and applications are being considered for rest 70 shops.

Jain said through its online and offline businesses, the target till March end next year was to finalise deals worth Rs 1,000 crore. The buyers will not have to pay any  commission on the transactions they make, Jain said, adding the company's portal has more than 150,000 hits a day, out of which 30 per cent are NRIs.

The moment a buyer mentions his requirements through the online portal or at the shop they are passed on to the registered property dealers and the sellers. The sales are made through 40,000 registered dealers and property developers who are its members, he added.