Ex-JLL head Anuj Puri launches realty brokerage business

Anuj Puri, former Chairman & Country Head of international property consultancy JLL India, today announced the launch of Anarock Property Consultants, essentially rebranding JLL’s erstwhile residential brokerage business which he acquired earlier this year.

Simultaneously, Puri announced the firm’s real estate investment and fund platform, which will invest Rs.300 crore in Residential real estate projects.

“Anarock is the group brand, which will house multiple real estate services verticals. We will provide our regular residential advisory services which charges zero brokerage from our customers. Additionally, the Firm will operate a business model of bulk-purchasing residential apartment inventory through a proprietary investment fund. We will also provide debt, equity and mezzanine funding to residential developers. And this is just the beginning,” said Anuj Puri, Chairman, Anarock Property Consultants.

Ashwinder Raj Singh is the CEO of the firm and is currently enhancing the firm’s team of residential brokers to a pan India headcount of 700 by the end of 2017.

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 Rs. 161 crore and has already demonstrated successful exits.

ROF-II, for which Rs. 300 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.

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.

[Source”cnbc”]