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Former JLL India head Anuj Puri launches Anarock

LiveMint logoLiveMint 26-06-2017 PTI

Mumbai: Former chairman and country head of JLL Anuj Puri, who recently acquired the property consultancy firm’s residential brokerage business earlier this year, on Monday launched Anarock Property Consultants.

The new firm’s real estate investment and fund platform will also invest Rs300 crore in residential real estate projects, a statement issued here stated. “Our unique, multi-pronged approach will significantly differentiate Anarock from all other players within the Indian residential property market,” Puri, who is the chairman of the firm said.

Its radical and disruptive residential brokerage model fully enables supply, demand and discovery through a digital platform, with transactions facilitated offline via highly-trained real estate experts, he said.

“Anarock is the group brand, which will house multiple real estate services verticals. We will provide our regular residential advisory services and operate a business model of bulk-purchasing residential apartment inventory through a proprietary investment fund,” its chief executive officer Ashwinder Raj Singh said.

The firm, which will also provide debt, equity and mezzanine funding to residential developers, is currently enhancing its team of residential brokers to a pan India headcount of 700 by the end of 2017, he added.

Anarock’s investment and fund platform, which is targeting a capitalization of $500 million by 2020, currently houses two funds. ROF-I, with its recent investments, stands fully deployed at Rs161 crore and has already demonstrated successful exits.

ROF-II, for which Rs300 crore were raised in 2016, will invest into residential assets from a existing pipeline and its deployment will commence as soon as it completes the last leg of regulatory requirements, it said.

“The fund’s key focus areas will be underwriting and asset management, since in the current market dynamics and with the introduction of RERA and implementation of GST, delta returns and successful exits can only be achieved through constant monitoring and robust in-house asset management,” Puri added.

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