Online real estate advisor PropTiger.com announced the acqui-hire of Mumbai-based start-up PropRates, which is a pioneer in data collation tools and first in the industry who gathers actual real estate transaction data. With this acquisition, PropTiger aims to provide consumers real-time access to actionable price related information on the property market. The latest acquisition comes close on the heels of the company’s acquisition of Gurgaon-based 3DPhy earlier in August, which was aimed at extending its lead in 3D visualisation and other technology solutions.
Commenting on the development, Dhruv Agarwala, CEO, PropTiger.com and makaan.com said: “With this acquisition, PropTiger will be able to augment its existing DataLabs offerings. The advanced data collation tool developed by PropRates will enable users to make more informed choices based on actual transaction prices while buying or renting property. PropRates’ exhaustive Mumbai-centric data resource will soon be available to our customers on PropTiger and Makaan.”
Customers in the Mumbai market will be the first beneficiaries of the range of data points available on PropRates. The next phase of expansion will see another 9 cities being added. The solution provides customers with a solid and credible benchmark by providing the actual transaction value of the latest buy or rent transaction, closed in a complex or locality.
Expressing confidence over the future prospects of the data tool, Abhishek Malhotra, CEO PropRates, said: “The large user base of PropTiger and Makaan will immediately find our data offering immensely useful for the purpose of picking residential units of their choice for buying or renting in the Mumbai market. We soon plan to extend our services to the next top 9 cities. The tool will help users optimize their decisions and get the best value-for-money deals.”
PropRates has been created by two techies – Abhishek Malhotra and Rohan Dey in 2015, with the sole objective of creating transparency in the real estate market and helping users take more informed property decisions. The team of PropRates will come on board at PropTiger and will continue to build on their data gathering and analysis expertise to augment and fine-tune their offering with the available resources at Proptiger.
By providing holistic end-to-end technology and data solutions, PropTiger intends to offer greater flexibility, choice, and improved user experience to its customers.
PropTiger.com is an online real estate firm in India that offers a one-stop platform to home buyers. Using the platform, a home buyer can search for homes, shortlist, visit, finalise, arrange home loans or legal services and, finally, buy the property. Listing an exhaustive range of properties, the company not only offers researched information on the locality and very detailed descriptions of the listed properties but also offers the best advice on buying, selling and investing in real estate in India.
PropTiger.com is funded by News Corp, SAIF Partners, Accel Partners and Horizen Ventures. With PropTiger’s acquisition of brands such as Makaan.com and OOBI in the recent past, homebuyers now have access to a full stack of services – from online search to assistance with transactions. Since its inception, PropTiger.com has sold homes worth more than 10,000 crores to 15,000+ happy customers.