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RE/MAX Launches Exclusive Luxury Collection office in Mumbai

Monday, June 10, 2019
By Dominic Rebello

Global real estate network RE/MAX India launched its Exclusive Luxury Collection office in Mumbai on Saturday, targeting over Rs 500 crore earnings within the next fiscal FY2019-20. The launch comes on the heels of its successful ventures in the Surat and Hyderabad real estate markets with the company maintaining a foothold in India’s financial capital.

Noting that this will be the first-ever exclusive venture in the city to cater to the ultra-luxury housing segment, Ajay Varma, CEO, RE/MAX Collection said the ‘RE/MAX Collection’ will deal with the high-end luxury apartments in Mumbai and curate the finest properties under one roof.

Terming the ‘SoBo’ (South Bombay) as a premium real estate market in the megapolis of Mumbai, Varma said the last 15 years witnessed an explosion of development projects that were attracting both investors and buyers, and RE/MAX’s entry here was eyeing inventory sale of over Rs 500 crores in its first fiscal itself. The company would be charging the standard real estate commission of between one percent and two percent, he told mediapersons while noting that there was plenty of business in the market for others including the ‘Mom and Pop’ setups which would not be wiped out by the entry of companies like RE/MAX.

“RE/MAX – with 180 offices in 50 cities in India since its launch in 2009 generating between Rs 5,000 crores to Rs 6,000 crores till date and including its first Mumbai office opened in Worli -- is strongly associated with international developers that are investor-friendly and we are now concentrating on South-east Asia. We have been observing a growing demand for ‘Second Homes’ in India, where production and development both are good alongside loans becoming relatively cheaper, besides the young age segment of around 28 years of age or so being the buyers,” he said.

Anmol Aggarwal, VP, RE/MAX India, said the company has also launched its ‘first-of-a-kind’, inhouse Realtors Training Programme in which the emphasis would be on skill development and training of people interested in taking up ‘Real Estate’ as a professional career. This endeavor would witness over 5,000 self-employed entrepreneurs or real estate agents in India by 2021, he said, adding that the company has also tied up with MSMEs and the Government for training other types of real estate agents besides its company staff.

“We are delighted to come together with RE/MAX India which, with key projects nearing completion and availability of abundant inventories, aims at offering top-notch services to the home-buying community in Mumbai,” Prakash Patel, Broker-Owner, RE/MAX Collection, said while highlighting the company’s specialized marketing tools, sophisticated services, attention to details and distinctive experience in dealing with luxury properties as the reasons for his collaboration with Re/MAX.

Gaurav Marya, Managing Director, RE/MAX India said that Mumbai –with its graph charting a steady climb to among the top costliest real estate markets in the world – is a ‘ready market’ timed for reaping benefits with less effort. “With advent of RERA and huge land parcels opening up, doing business in Mumbai will be an exciting journey and sheer delight,” he added.

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