MADISON, N.J., (Sept. 30, 2013) – Coldwell Banker Real Estate LLC announced the signing of a master franchise agreement with Coldwell Realty Private Ltd. to affiliate and service Coldwell Banker® and Coldwell Banker Commercial® franchises in India. The firm will operate as Coldwell Banker India.
Coldwell Realty Private, Ltd. is a privately held firm led by Ramnik Chopra and a seasoned management team that has extensive experience in commercial and residential real estate, along with professional and financial services and marketing. The company will be headquartered in Mumbai.
Chopra earned an electrical engineering degree in India. He then worked for several technology companies in India and the United States, before starting his own real estate marketing services company to assist reputable Indian real estate developers in marketing to people of Indian origin living overseas.
“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.”
Coldwell Banker India will focus on building the brand in the nation of 1.2 billion, the most populated democratic nation in the world, concentrating its initial efforts in major metropolitan areas, including Mumbai and New Delhi.
“The time is right for the Coldwell Banker brand to succeed in India,” said Chopra. “We have the world’s fastest growing middle class where homeownership remains aspirational and homeownership rates are rising as personal wealth increases. There is also a great opportunity to reach our affluent population through the Coldwell Banker Previews International® program and provide the outstanding service this market expects. The century-old success of the Coldwell Banker brand, showcased by the brand’s professionalism, strong consumer-service and belief in ethical behavior are qualities that will resonate with the Indian consumer. The proliferation of foreign investment in Indian manufacturing, consumer services and retail also give us an opportunity to succeed on the commercial real estate sector.”