ANAROCK Completes 300 Exclusive Project Mandates Worth INR 22,000 Cr
- 100 exclusively mandated projects worth INR 9000 Crore currently ongoing
- Sale rate of 1000 units/month unprecedented in the current market
- The firm relies heavily on technology as the key differentiator
Mumbai, 27th February 2019: ANAROCK today announced the successful closure of 300 exclusive mandates to market residential projects across India and in the Gulf. The cumulative market value of the inventory sold to date exceeds INR 22,000 Cr.
Anuj Puri, Chairman – ANAROCK says, “ANAROCK has strategically partnered with over 150 top developers across 13 Indian cities and in the Gulf. The market value of the overall mandated inventory we have sold since our launch in 2017 exceeds INR 22,000 Cr across the 300 residential projects. Interestingly, 11,000 units of these, with a value of INR 10,000 Cr, were sold in the current financial year (FY18-19) itself. The combination of focused experienced brokerage and our bespoke technology has been a winning combination.”
ANAROCK currently sells housing inventory at a rate of 1000 apartments (or approx. 1,000,000 sq ft.) per month.
This success rate, unprecedented in the currently subdued residential real estate market, is the result of their proprietary technology coupled with immediate expert offline support.
ANAROCK’s bespoke real estate marketing technology has generated 1.2 million unique enquiries to date, while its proprietary sales and collaboration management software enables its highly-specialized 1500-strong sales force to service these enquiries instantly in real time and in the shortest possible duration.
“We have invested heavily in our technology platforms, and these investments are paying off as intended – in the form of actual on-ground sales creating a win-win equation for developers, end-users and investors,” says Anuj Puri.
“Of the INR 400 Cr allocated and spent in our marketing budget, INR 100 Cr have been invested exclusively in our digital platforms. This has enabled us to achieve a massive level of operational scale within a relatively short period of fewer than two years.”
The cities which have yielded the highest and fastest closure of projects mandated exclusively to ANAROCK are Mumbai, Bengaluru, Pune, Chennai and – interestingly, the National Capital Region (NCR).
“There is a misconception that all projects in NCR are performing poorly, which is far from reality,” says Puri. “In fact, we have successfully marketed projects by reputed developers across this region. These include 18 projects in Gurugram, 16 in Noida and 6 in Ghaziabad. The results reflect that residential real estate in NCR can and does draw positive traction as long as it involves the right developers partnered by the right tech-enabled brokerage services.”
A full RERA-registered real estate consultancy, ANAROCK is currently finalizing its 100th ongoing exclusive mandate in Navi Mumbai. With 300 project mandates successfully completed, this brings the total number of exclusively mandated projects to 400.
Mandates in hand include 15 projects in Mumbai, 10 in Navi Mumbai, 15 in Pune, 17 in NCR (North & South Gurgaon, Noida and Ghaziabad), 12 in Hyderabad, 9 in Bengaluru, 6 in Chennai, 6 in Ahmedabad and 7 in Kolkata.
As per ANAROCK’s prerequisite due diligence prior to mandate acceptance, all projects have been vetted for RERA registration, their developers’ financial capability to ensure time-bound completion, completeness of documentation – and fairness of ticket sizes.
The primary advantage that ANAROCK’s model of bulk inventory marketing offers customers is that they can pre-negotiate the most competitive prices along with exclusive add-on benefits, thanks to the economies of scale involved in exclusive mandates of entire projects.