JLL India, Invest India to Run Accelerator Programme for Tech Startups in Realty Space

New Delhi, Aug 22 (PTI) Property consultant JLL (Jones Lang Lasalle) India on Thursday said it has partnered with Invest India , a government of India's official investment promotion agency, to launch an accelerator programme for supporting those startups which are working on developing technology solutions for the real estate sector.

"JLL and Invest India, the National Investment Promotion and Facilitation agency, under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, jointly announced the launch of JLL IDEAs," the company said in a statement.

JLL IDEAs is a collaboration between JLL and the initiatives housed at Invest India, Accelerating Growth of New India's Innovations (AGNIi) and Startup India. This programme is real estate proptech accelerator that will promote startups working on cutting edge, disruptive technologies and solutions impacting developers, investors and occupier clients, it added.

AGNIi is the national technology commercialization programme from the Office of the Principal Scientific Adviser to the central government, while Startup India is the government's flagship initiative to boost the startup ecosystem in the country.

"It is AGNIi's constant endeavor to support the ongoing efforts to boost the innovation ecosystem in the country. Through this collaboration with Startup India & JLL, we aim to connect innovators across industries and help commercialize their technology and solutions for the larger good of the real estate sector in India," Prof K Vijay Raghavan, Principal Scientific Adviser to the Government of India said.

"India is now the second largest startup ecosystem in the world. With a clear focus to promote innovation in the country, it is the right time for industry to come forward and be a part of the New India story," Invest India MD and CEO Deepak Bagla said.

The proptech space offers limitless opportunities in India and is the single biggest lever to benefit millions of consumers, end users and occupiers alike, Ramesh Nair, CEO and Country Head, JLL India said.

Property consultant's revenue rose 17 per cent to Rs 4,000 crore in 2018-19. PTI MJH

JLL India Launches Proprietary Real Estate Technology Investment Vertical, Invests in Foyr.com

The Indian unit of international property consultant Jones Lang LaSalle (JLL) today announced the launch of its new independent Real Estate Technology Investment vertical to invest in start-up or growth-stage companies developing innovative and disruptive technology solutions specific to the real estate sector.

Anuj Puri, Chairman & Country Head, JLL India says, “The purpose of this vertical is to invest into early-stage companies - or start-ups - which can potentially disrupt the real estate business with brand-new thinking, backed by sound, workable technology. With this investment vertical, JLL has its eyes trained on Geographic Information Systems, Visualisation and Augmented Reality, Artificial Intelligence, sustainable energy, water efficiency, smart commercial buildings, Smart City tech applications, property Management technologies, data analytics, home automation and – on a broader level - the Internet of things.”

This initiative is spearheaded by Anuj Nangpal, a real estate industry veteran and a specialist in M&A, private equity, corporate advisory and investment banking. As Head – JLL India Real Estate Technology Ventures, he will have strategic oversight of the newly-launched investment vertical and will work closely with JLL’s various business lines and financial partners to deploy seed capital into the identified firms.

“Given its global network and deeply-entrenched business reach in the real estate sector, JLL is uniquely positioned to provide technology start-ups with a platform to make a significant difference to the real estate industry and deliver corresponding value to its financial partners. A strategic partnership with JLL will allow these companies an opportunity to scale up as well as explore the application of the technologies in global markets. The Firm is investing into the future of Indian real estate”, says Anuj Nangpal.

This will be an independent investment entity which will focus on enhancing the value of its equity holdings in the target firms. JLL will also explore the potential of working with private equity funds and financial institutions to make even larger investments, if needed.

“Typically, an early-stage company needs anything between $100,000 to $2 million to go from proof-of-concept to growth in a period of around 12-18 months,” says Anuj Nangpal. “JLL’s proprietary capital, along with its strategic partners, will finance this cycle. In the first 12-18 months, we plan to invest in approximately 10-15 such early- stage companies. Given the Firm’s very strong balance sheet, there is limitless scope for such investments.”

The investment entity has announced its maiden investment into Foyr.com, a cutting-edge technology platform for visualizing real estate spaces. Foyr’s patent pending technology offers developers the ability to market their developments and allows customization of interiors on the fly.

“Foyr’s unique technology has global appeal, and the advancements they have made in AR/VR are globally competitive and scalable,” said Anuj Puri. The investment vertical expects to announce three further investments before the end of 2016.

Image : Anuj Puri, Chairman & Country Head, JLL India

India Gets Its First Managed Residences Plan

Snapdeal, Indian online marketplace and Puravankara, one of the country’s top 5 listed real estate developers in association with leading international property consultancy JLL India have announced the launch of a Managed Residences Plan for their customers. The Managed Residences Plan functions as a dedicated long term asset management programme for leased Residential Real Estate, supporting customers with different risk capacities to drive better value from their investment.

The three-way partnership between Snapdeal, Puravankara Projects Ltd and JLL India, will enable customers to purchase a ready-to-occupy apartment from Puravankara across Bangalore, Chennai, Coimbatore & Kochi and lease it back to  Puravankara for a contracted term of 7 years. As a part of the contract, Puravankara will secure pre-agreed monthly rentals to the customer and pay the common area maintenance amount to the Building Association. This ensures that the purchaser enjoys a hassle free, uninterrupted rental returns for 7 years, along with an additional rental appreciation benefit of 8.0% every year. Purchasers however have an exclusive option for premature withdrawal from the lease agreement, in case they choose to occupy the apartment or manage the rental process themselves. Puravankara has appointed JLL as the Lease Manager, to assist it in further sub-leasing the residential apartments to tenants and provide leasing related services.  JLL also offers to provide lease management services to the purchasers beyond the 7 year period, in return for a service fee.

Speaking about the launch, a Snapdeal spokesperson said, “Snapdeal’s Real estate category has received a phenomenal response from customers since its launch witnessing 300% year on year growth. We have forged alliances with some of the most trusted names in the real estate industry to offer a range of housing options for our ever-expanding customer base in a hassle-free and transparent manner. We are confident that the unique Managed Residences Plan will be an exciting proposition for our customers and help them maximise benefits from their home investment.”

Offering 200 ready-to-occupy residential assets in the inaugural phase of its launch across Bangalore, Chennai, Coimbatore and Kochi with investment sizes ranging from Rs 35 lakhs to Rs 3.5 Crores, the bookings for Managed Residences Plan will be open exclusively on Snapdeal for 10 days, starting May 27^th and allotment of units will be on a first come first serve basis. The exclusive launch of the Managed Residences Plan on Snapdeal allows prospective purchasers to place an Expression of Interest online, along with a nominal reservation amount, post which the developer’s representative shall assist them in choosing a unit. Those who book online during this inaugural period shall also be eligible to receive an INR 25,000 Snapdeal Purchase Voucher.

Mr. Ashish Puravankara, Managing Director, Puravankara Projects Ltd said “At Puravankara, we are always striving to meet the evolving needs of home buyers, and the benefits offered under the Managed Residences Plan are in tandem with our Group’s vision. While developers in the past have offered rent assurances for one or two years, it is for the first time a developer has taken a 7 year long term view on rentals. This indicates our bullish view on the long term real estate story in the country”.

Ashwinder Raj Singh, CEO - Residential Services, JLL India said “We at JLL India believe that the Managed Residences Plan is a convincing answer to the challenges investors face with regards to managing their real estate investments efficiently. Buying ready-to-move-in homes rules out uncertainties around quality and possession timelines, as purchasers buy what they see. Simultaneously under this Plan, rental income is guaranteed. We are excited to associate with Puravankara on this one-of-a-kind initiative, and are sure that this offering will appeal to both local and NRI investors.”

Image Source: ShutterStock