Property consultant JLL has sold its residential property brokerage business - Jones Lang LaSalle Residential Private Ltd (JLLR) - to Anuj Puri, its former India head. While initially the name of the brand will remain the same, Puri said going forward, it will be changed to reflect the new ownership structure.
Property consultant JLL has sold its residential property brokerage business - Jones Lang LaSalle Residential Private Ltd (JLLR) - to Anuj Puri, its former India head. While initially the name of the brand will remain the same, Puri said going forward, it will be changed to reflect the new ownership structure.
According to a statement from the real estate consultancy firm, Puri will lead the residential brokerage business and will head a team of 200 residential brokers across eight Indian cities.
Puri left the company on February 28.
JLL, in its statement, said, Puri "has worked closely with JLL India and Asia Pacific leadership teams to complete the acquisition of Jones Lang LaSalle Residential Private Ltd (JLLR)."
Commenting on the move, the current CEO and Country Head of JLL India Ramesh Nair, said, "With his impeccable track record in Indian real estate and his passion for residential sector, Anuj is the best person to continue to build this business and we wish him every success in his future endeavours."
He added, "For JLL it is a strategic move that will allow us to focus on new growth areas for our India business and continue to offer best-in class real estate advice and services to our clients."
Anuj Puri said, "This is a great outcome for all parties. After 10 incredible years with JLL, it's now time to build something new."
While the company will continue to retain its brand name right now, Puri said going forward it will be renamed to reflect the new ownership structure.
The CEO of JLLR, Ashwinder Raj Singh, will continue in his role and will report to Puri.
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