Sapna Bhardwaj, 26 June 2017 -Mumbai
Fund will invest INR 300 crore in, Residential projects, targets USD 500 mn by 2020
Real estate veteran Anuj Puri who was Former Chairman & Country Head of International Property Consultancy JLL India, today announced the launch of ANAROCK Property Consultants Pvt. Ltd. Essentially rebranding JLL’s erstwhile residential brokerage business which he acquired earlier this year. Puri announced the Firm’s real estate investment and fund platform, which will invest INR 300 crore in Residential real estate projects and targets USD 500 mn by 2020.
“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”, said Puri. “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 revolutionary business model of bulk-purchasing residential apartment inventory through a proprietary investment fund. It will also provide debt, equity and mezzanine funding to residential developers”, said Ashwinder Raj Singh, CEO, ANAROCK Property Consultants Pvt. Ltd.
ANAROCK’s claims its radical and disruptive residential brokerage model will fully enable supply, demand and discovery through a digital platform, with transactions facilitated offline via highly-trained real estate experts.
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.
ANAROCK’s Investment and Fund platform is targeting a capitalization of USD 500 million by 2020 asserted Puri. It currently houses two funds: ROF-I, with its recent investments, stands fully deployed at INR 161 crore and has already demonstrated successful exits. ROF-II, for which INR 300 crore were raised in 2016, will invest into meaningful residential assets from an existing pipeline and its deployment will commence as soon as it completes the last leg of regulatory requirements.