Global property consultant JLL Wednesday said it has reentered housing brokerage business in India, almost two years after it sold this business, to tap huge potential in the residential segment.
In April 2017, JLL had announced the sale of India residential brokerage arm to its former country head Anuj Puri for an undisclosed amount.
Puri, who quit JLL India in February 2017 after serving 10 years in the company, bought 'Jones Lang LaSalle Residential Pvt Ltd (JLLR)' and later renamed the company as 'ANAROCK'.
Post implementation of realty law RERA, housing brokerage business is becoming organised. PropTiger, ANAROCK, Quikr, Square Yards, 360 Realtors, Investors Clinic and Wealth Clinic are among organised players in the housing brokerage business.
JLL India said in a statement that it has launched its "residential brokerage business that will offer a bouquet of technology-enabled advisory and transaction services to home buyers and developers."
This business will be led by industry veteran Siva Krishnan who brings over 2 decades of experience and has successfully advised and managed a variety of residential real estate investments in India.
"To meet our ambitious plans to scale up JLL's Residential Brokerage business, we plan to ramp up the team rapidly to around 100 highly-trained professionals across Mumbai, Delhi NCR, Bengaluru, Pune, Hyderabad, Kolkata and Chennai," JLL said.
The consultant will now offer transaction services for new and resale residences in the mid-to-luxury range and will also undertake exclusive project marketing mandates.
"The support of a stellar research team armed with superlative market intelligence and over 10 years of residential data analytics forms the backbone of successful strategy execution for JLL.
"With the launch of our Residential Brokerage arm, we aim to drive value and insight-driven decision-making for clients," JLL India CEO and Country Head Ramesh Nair said.
In an environment where home buyers expect complete transparency and a trustworthy advisor to help make the right decisions, he said the timing and juncture could not have been more appropriate to introduce residential services.
"Buying a home is one of the most important decisions for an Indian family and we want to be their partner of choice in this journey. Overall, it also helps us complete the entire bouquet of service offerings from JLL," Nair said.
JLL said it enjoys strong relationship with India's leading developers and institutional investors.
"With the growth and evolution of the residential sector in the last few years, there is strong demand from developers and investors for marketing support as well as professional and transparent advice," JLL said.
With the estimated revenue for 2018-19 at Rs 4,000 crore, JLL has been growing exponentially in India for the past 20 years.
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