Anuj Puri launches ANAROCK Property Consultants Residential Brokerage, Fund & Investment Platform
Anuj Puri, former Chairman & Country Head of international property consultancy JLL India, has launched 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.
“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," says Anuj Puri, Chairman, ANAROCK Property Consultants. "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. ANAROCK will also provide debt, equity andmezzanine funding to residential developers. And this is just the beginning.” Ashwinder Raj Singh, who continues as CEO, ANAROCK Property Consultants, is currently enhancing the firm's team of residential brokers to a pan-India headcount of 700 by the end of 2017.
ANAROCK’s 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. "Our unique, multi-pronged approach will significantly differentiate ANAROCK from all other players within the Indian residential property market," says Puri. "We are fully substantiating the Firm’s motto 'Values Over Value'."
ANAROCK’s investment and fund platform, which is targeting a capitalisation of US$ 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 meaningful 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.
“We will redefine the way residential real estate transaction business is done in India,“ says Puri. “This company's brand is forged to withstand the test of time. ANAROCK is the merging of two words. As outlined by British mathematician Charles Howard Hinton, ANA is the fourth spatial dimension and symbolises the firm’s four core values of Ethics, Integrity, Transparency and Trust. ROCK is the globally understood symbol of Solidity and Stability.”
With Anuj Puri's proven background and experience in strategising real estate companies' success and growth in India, ANAROCK Property Consultants has set its sights on multi-dimensional growth as India’s premier digitally-enabled and customer-focused residential brokerage and services platform. Real estate history is being rewritten – yet again.