Coldwell Banker Real Estate LLC has signed a master franchise agreement to license its brand for residential and commercial real estate business in India.
Mumbai-based Coldwell Realty Private Ltd. has licensed the brands “Coldwell Banker” and “Coldwell Banker Commercial,” and will operate as Coldwell Banker India.
Led by Ramnik Chopra, the company will initially focus on growing its business in major metro areas like Mumbai and New Delhi.
“We have the world’s fastest-growing middle class where homeownership remains aspirational and homeownership rates are rising as personal wealth increases,” Chopra said in a statement.
Chopra — who worked for several technology companies in India and the U.S. before starting his own real estate marketing firm to help Indian real estate developers reach Indians living overseas — said he also sees “a great opportunity” to reach affluent clients through the Coldwell Banker Previews International marketing program.
Coldwell Banker President and CEO Budge Huskey said India “has risen dramatically in its wealth and its consumer affinity for quality brands, while preserving traditional values and culture.”
Huskey said Ramnik and his leadership team “came together having experienced great success in their individual professional careers,” and “understand the complexities” of India’s evolving homeownership environment.
Coldwell Banker, which launched an international film festival this month with entries from India, China, Brazil and seven other countries, has about 3,100 offices in 51 countries and territories.