Mumbai, India (October 21, 2013) – Coldwell Realty Pvt. Ltd., a Mumbai based private limited company has acquired master franchising rights for the Coldwell Banker brand. The company will operate as Coldwell Banker India and will own and manage Coldwell Banker®, Coldwell Banker Previews® and Coldwell Banker Commercial® marks in India. The contract was signed in end of September and the initial launch of the first Coldwell Banker India offices is scheduled for early next year.
Coldwell Banker India is led by US based NRI Ramnik Chopra along with Mumbai based entrepreneurs, Vishal Malik and Ramesh Sharma. The firm also boasts of a seasoned management team that has extensive experience in commercial and residential real estate in India. The first phase will be rolled out in Delhi, Bangalore and Mumbai with other major tier-I and tier-II cities to follow.
With the growth in the economy fueling robust real estate growth, consumers are seeking a more transparent and professional transaction process in India. This deal thus marks a significant effort of a world-class brand to bring best practices, processes and tools to the Indian Real Estate brokerage market which remains extremely fragmented even today.
Coldwell Banker India by providing these best in class tools, world class training and cutting edge technology to its local franchisees is set to be recognized as a leader in bringing a pivotal change in how real estate is transacted across India.
NRIs across the world can now avail of the Coldwell Banker network across 50 different countries while looking to purchase a home in India. The company has planned to set up a dedicated NRI desk to provide all NRIs transparent and hassle free service to buy their home in India.
Apart from the residential and commercial products, Coldwell Banker India will also be offering the Coldwell Banker preview program to not only NRIs but also high net-worth Indians looking for luxury homes across the world. Previews is one of the largest network of luxury home buying professionals across the world that are dedicated to help the ultra-high net worth individuals find a home to suit their lifestyle. Some of the most iconic and premium properties in India will be offered through the Coldwell Banker Previews program.
“India has risen dramatically in its wealth and its consumer affinity for quality brands, while preserving traditional values and culture,” said Budge Huskey, president and chief executive officer of Coldwell Banker Real Estate LLC. “Ramnik and his leadership team came together having experienced great success in their individual professional careers. They understand the complexities of the evolving homeownership environment in India while recognizing the need for establishing a trusted reputation for real estate professionals.”
According to Ramnik Chopra, the Coldwell Banker India difference will be the global approach to the process of home buying, as physical boundaries will be eliminated through the network of professionals working on a real estate solution for a client anywhere in the world. “The time is right for this foray and for Coldwell Banker to service and target the 1.2 billion people of India and the burgeoning NRI market across the world,” Ramnik added.
Coldwell Banker India is currently setting up its training facility in Mumbai to offer its franchisees courses from the award winning Coldwell Banker University.