‘The online marketplace offers office tenants and landlords a convenient search medium and end-to-end transaction engine’
Property consultant JLL India has launched its proprietary online portal Property.jll.co.in for pan-India office leasing options. The online marketplace offers office tenants and landlords a convenient search medium and end-to-end transaction engine, the company has said.
According to the company, the portal makes JLL’s comprehensive aggregated database of more than 3,500 office space listings across the country available at the click of a mouse. It delivers accurate and relevant office details, including available units, rentals and location details such as connectivity and surrounding infrastructure in and around the commercial building to enable “highly simplified, time-effective and productive search process.”
“The Indian office leasing landscape is constantly evolving — particularly for small to mid-sized businesses and technology startups,” said Ramesh Nair, the company’s CEO & country head in a press release. “This premier online solution to accessing the cream of India’s commercial real estate space picks is an additional channel JLL India gives its clients to complement its strong and industry-leading network of office brokers. Property.jll.co.in is by far the most comprehensive online aggregation of office spaces available in India.”
Nair averred, “This cutting-edge platform will disrupt and transform the manner in which office space is searched and leased in the country today,” adding that “the comprehensive pan-India online office spaces listing is backed by a robust technology which ties seamlessly into JLL’s offline brokerage network, providing a unique blended proposition for rapid and highly effective CRE decisions.”
He added that JLL has successfully deployed the online marketplace model for office spaces across the US, Europe and other mature Asian markets such as China and Hong Kong.
The portal, he said, creates a unique opportunity to digitally market all vacant office spaces and provide a steady supply for all kinds of businesses. “With it, we reduce the cycle time and potentially monetise all vacant office spaces, big or small. It is exactly the kind of solution which today’s market demands.”
The online marketplace, he stressed, addresses the needs of all kinds of companies including SMEs, mid-sized and smaller organisations to fulfill office space requirements hitherto serviced by local brokers lacking a comprehensive view of available spaces.
“This online solution will result in vastly optimised speed to occupancy via which landlords can efficiently monetise and promote available spaces directly to tenants at pre-negotiated leases,” said the company’s managing director–markets Nitish Bhasin.
The Indian government’s ‘Digital India’ initiative envisages a 360-degree transformation of the country’s landscape via a digitally empowered society and a knowledge economy. We are already witnessing the results of this transformation. India’s Internet users are expected to grow from 373 million (28% of the population) in 2016 to 829 million (59% of the population) in 2021. Business real estate stakeholders will benefit significantly from easy access to a wide range of office options to address new business models and shifting market conditions.”
Unlike residential, he added, the process of finding the right commercial office space is a complicated one and typically cannot be done without an agent’s help. “JLL has addressing this challenge. This online model will help now invested clients to shortlist office spaces and work with agents to complete the transaction easily and with a minimum allocation of time, cost or manpower.”