Anuj Puri, former chairman and country head of JLL India, has unveiled a real estate investment and fund platform, which will invest ₹300 crore in residential projects in India.
He has also re-branded JLL Residential Brokerage, which he had acquired earlier this year, as Anarock Property Consultants.
“We have chosen the brand... Anarock with the motto ‘Values Over Value’ to reflect a business model and philosophy founded on the bedrock of trust and reliability,” Mr. Puri, who is the chairman of Anarock Property Consultants, said in a statement. “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,” Ashwinder Raj Singh, CEO, Anarock Property Consultants Pvt. Ltd said.
“Additionally, the firm will operate a business model of bulk-purchasing residential apartment inventory through a proprietary investment fund. Anarock will also provide debt, equity and mezzanine funding to residential developers.” 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 ₹161 crore and has already demonstrated successful exits. ROF-II, for which ₹300 crore were raised in 2016, will invest into residential assets from an existing pipeline and its deployment will commence as soon as it completes the last leg of regulatory requirements, the company said.
The fund’s key focus areas will be underwriting and asset management. “We will redefine the way residential real estate transaction business is done in India,“ Mr. Puri said.
