On Tuesday, JLL, India’s leading real estate consulting business, launched a strategic alliance with Zapkey to enter the country’s secondary residential sector (a Propstack subsidiary).
JLL hopes to reach out to consumers who are having difficulty completing a buy-side or sell-side transaction in the somewhat unorganized secondary (resale) residential market with this first-of-its-kind collaboration.
Customers face a variety of challenges in India’s secondary residential sector.
Legal obstacles such as clear title deeds and documentation can be a major barrier, in addition to difficulties with price discovery and the quality of the goods given.
This collaboration intends to simplify the marketing of a resale flat by combining Zapkey’s data platform with proptech solutions such as Matterport, which creates a 3D digital twin of the residence for purchasers to visually explore. It also has measuring features, as well as a complete house inspection report with all the quality tests and scope of renovations listed in plain English.
“The collaboration between JLL and Zapkey will be both offline and online. While Zapkey will list resale homes on their portal, the eventual offline transaction will be managed end-to-end by JLL’s experienced advisors. Starting with Mumbai, we will look at expanding our presence in cities like Pune and Bengaluru too,” said Siva Krishnan, Managing Director, Residential, India, JLL.
“As more and more homebuyers take the most important step of investing in their own homes rather than staying on rent, we wish to be enablers for them in this important decision. We recently announced JLLhomes.co.in, our primary residential portal, and with this association, we aim to reach the secondary residential market. We hope that the coming together JLL and Zapkey will induce confidence in customers as we aim to resolve some of their most pressing issues,” Siva further added.
Raja Seetharaman – Co-founder of Zapkey said, “Both JLL and Zapkey are client-facing real estate companies; however, the characteristic each holds fits like a puzzle. We are delighted to partner with JLL. We believe that the combination of Zapkey’s tech and data platform with JLL can redefine the secondary residential market in India. The broad nature of residential products & services under one umbrella makes it an exciting proposition. The secondary residential market holds huge potential in India. Large organized players like JLL entering this market will make it easier for buyers and sellers to confidently and efficiently execute transactions.”
JLL has announced the launch of JLLHomes.co.in, a residential platform. Prospective homebuyers can use the portal to browse a variety of residential projects that have been pre-screened by JLL professionals.