Snapdeal joins hands with Puravankara, JLL

COIMBATORE: Snapdeal, a leading online marketplace and Puravankara, which is among the top-5 listed real estate developers in the country, have announced the launch of a ‘Managed Residences Plan’ for their customers in association with international property consultancy JLL India.

The three-way partnership will enable customers to purchase a ready-to- occupy apartment from Puravankara across Bangalore, Chennai, Coimbatore and Kochi and lease it back Puravankara for a contracted term of seven years. As a part of the contract, Puravankara will secure pre-agreed monthly rentals to the customer and pay the common area maintenance amount to the building association.

It plans to offer 200 ready-to-occupy residential assets in the inaugural phase of its launch across Bangalore, Chennai, Coimbatore and Kochi with investment sizes ranging from 35 lakh to 3.5 crore. The bookings for ‘Managed Residences Plan’ will be open exclusively on Snapdeal for 10 days, starting May 27. The allotment of units will be on a first-come, first-serve basis. Puravankara has appointed JLL as the lease manager to assist it in further sub-leasing . JLL is also offering to provide lease management to buyers beyond seven year period for a service fee.

The exclusive launch of the plan on Snapdeal allows prospective purchasers to place an expression of interest, along with a reservation amount, post which the developer’s representative shall assist in choosing a unit.