Times of India now on assets selling spree

Appointed Knight Frank India as agents to sell barter properties

By Dr Sanjay Chaturvedi

Times of India is selling its assets and inventories acquired through barter deals from builders and developers. Very recently the newspaper had appointed Knight Frank India to dispose off its inventory of residential flats in Thane and Navi Mumbai and in many parts of the country.
Sometimes back, Times of India had established a company, “Times Treaty” which was given mandate to do barter deals with builders and developers for their finished residential flats or commercial spaces in lieu of advertisement space in its group of newspapers , magazines and other media modes like internet etc. The barter was also done with companies who were coming into IPOs for shares and equity into the share offerings.
For some times now, big names like Lodha Group had exclusive Times treaty signed for barter deals where in Lodha Group was using big full page advertisement of Times of India and other media in lieu of flats and commercial spaces. The Treaty team was asked to slow down after 2008-09 when the real estate prices were crashing. The barter deal done by the Times Treaty team was through out the country. And with almost all big public issues in the stock markets.
For sometimes now, Times Group had stopped taking any inventory and now wants to compete with builders and developers in the same projects which they are into the market and much below the sale price.
It was evident that Times Group is with direct competition with Maharashtra Chambers of Housing Industry (MCHI) in property exhibition business and wants to monopolies the business. In the meanwhile MCHI is looking at DNA to partner their ventures because of splitting relationship with Times Group.
Anyway, the Times is thinking to get rid of dead woods it had compiled through barter ads in the boom time. Knight Frank, which is concentrating now on retail individual premium properties is obliging the giants to en cash the deals.