Winkworth launches into India property market

Winkworth launches into India property market

Winkworth has launched into India.

It has signed up a master franchisee, Narayanan Soundararajan, and opened in Bangalore.

Two more offices, in Chennai and Delhi, are planned for later this year, with the aim of creating a network of franchises across India based on the Winkworth UK model.

Soundararajan, a former banker for RBS in India, will manage the Winkworth Indian franchisor offices.

Focused primarily on the domestic Indian housing market, the new franchised offices will work for only one party in each transaction rather than for both sides, marking a departure from the existing practice in India.

The franchised offices will additionally look to build close relationships with respected and credible developers in India that are able to deliver quality products on time.
In collaboration with Winkworth’s UK network, the Indian franchised offices will also offer advice both to prospective clients looking to buy in the UK, and to UK investors looking to buy in India.

Winkworth said it has “high expectations for this cross-over into a fast developing market”.

Dominic Agace, CEO of Winkworth, said: “The Indian property market has gone from strength to strength over the last decade and is now considered to be one of the most vibrant real estate markets in the world. We therefore hope that bringing our established and respected brand to this market will prove to be a great success.”
Soundararajan said: “India is a rapidly growing real estate market, particularly in the luxury segment, so there is a great opportunity for an international brand like Winkworth, that combines global expertise and local knowledge, to enter the market.”