BackJLL enters secondary residential market, ties up with Zapkey
India’s secondary residential market is challenging with customers facing multiple issues. Apart from difficulties related to price discovery and quality of product offered, legal issues like clear title deeds and documentation are key deterrents.
PremiumMUMBAI: JLL, India’s largest real estate consultancy firm, on Monday announced its entry into the country’s secondary residential market via a strategic partnership with Zapkey, a Propstack subsidiary. With this first-of-its-kind association, JLL aims to reach out to customers struggling to make a buy-side or a sell-side transaction in the rather unorganised secondary, or resale, residential market.
India’s secondary residential market is challenging with customers facing multiple issues. Apart from difficulties related to price discovery and quality of product offered, legal issues like clear title deeds and documentation are key deterrents.
The partnership aims at simplifying the marketing of a resale apartment by using Zapkey’s data platform and proptech tools like Matterport, which creates a 3D digital twin of the apartment for buyers, making it easier for them to virtually tour the property. It also provides measurement features, a detailed home inspection report with all the quality checks and scope of improvements mentioned in simple understandable terms, JLL said.
“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.
Last week, JLL had announced the launch of its residential portal JLLHomes.co.in. The portal enables prospective homebuyers to choose from an array of residential projects that have been pre-screened by professionals from JLL.
"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 and services under one umbrella, makes it an exiciting proposition. The secondary residential market holds huge potential in India. Large organised players like JLL entering this market will make it easier for buyers and sellers to confidently and efficiently execute transactions," said Raja Seetharaman–Co-founder of Zapkey.
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