JLL, a leading international real estate consultancy, on 23 January 2019 announced the launch of its Residential Brokerage that will offer a bouquet of technology-enabled advisory and transaction services to home buyers and developers. The new brokerage arm will be led by Siva Krishnan. JLL has been present in India for the past 20 years.
JLL India plans to ramp up the residential brokerage team to around 100 professionals across Mumbai, Delhi NCR, Bengaluru, Pune, Hyderabad, Kolkata and Chennai. As part of its range of offerings, JLL will now offer transaction services for new and resale residences in the mid to luxury range and will also undertake exclusive project marketing mandates. Backed with decades of expertise, be it in acquiring land, consulting, facilitating financial closures, enabling development or managing assets, the firm has also developed a profound understanding of the residential sector.
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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. With the right mix of talent and top-of-line solutions backed by market intelligence, real-time data and a technology-led platform, JLL is uniquely positioned to cater to the diverse needs of our valued clients.
“At JLL, there has always been a conscious effort to set new paradigms and stay ahead of the curve. We want to be a very agile, dynamic and forward-thinking Firm. 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. We have observed commercial real estate to be the harbinger of residential development in most cities and this phenomenon is also a perfect analogy for JLL India’s growth story. Our comprehensive and diverse experience across various asset classes and markets coupled with continued confidence shown by the developer and investor community in our capabilities has been instrumental in the launch of our residential brokerage business in 2019,” said Ramesh Nair, CEO and Country Head, JLL India.
Siva Krishnan, Managing Director – Residential Business, said “JLL has an established presence in the residential space over the past 20 years. Through various business lines, we have catered to all kinds of requirements from developers, corporates and investors. From our past experience, we are aware that there is never a one-size-fits all in residential segment as the needs and requirements of every customer and developer is unique. With the launch of the Residential Brokerage Services, we plan to offer bespoke services to both the demand and supply side.”
With the implementation of landmark reforms such as RERA, Demonetisation and GST, a renewed growth momentum is being witnessed in the residential segment. Though there was teething trouble initially, developers and home buyers have both navigated their way to accommodate the long term positive impacts expected. The proposed GST revision for under-construction properties could bring in much needed respite for the residential sector and help boost the overall economy.