Housing.com has today announced the acquisition of Realty Business intelligence, a real-estate risk assessment firm which helps buyers make informed choices through its the company’s intelligence data. The deal, will get Housing 100% equity in the intelligence firm, for Rs.1o crore to be paid in cash.
Talking on the latest acquisition, Housing says that its “customers will be empowered with credible real estate market intelligence and risk assessment to aid informed decision making for investments in new projects”.
This will be Housing’s second major acquisition in the real-estate consulting space. It had earlier acquired Indian Real Estate Forum for $1.2 Million, a discussion forum where potential property buyers could connect with sellers and agents.
Housing said in a prepared statement,
This in line with Housing.com’s vision to bring transparency into the opaque world of real estate that is fraught with risks when it comes to retail investments in new projects.
Realty BI focusses on providing uncluttered & intelligent information on the Real Estate Sector, tracking Real Estate trends and creating Collateral Risk Management Tools, all mounted on top of a robust tech back-end. Its primary customers include Foreign banks, Private Indian Banks, Nationalized Banks and HFCs / NBFCs as they need inputs on new projects being launched along with Project Approval.
Housing’s second acquisition could also be seen as a counter to PropTiger’s recent feature launch. PropTiger, backed by NewsCorp., just launched “City Master plan”, a never seen before feature which lets buyers get an insight into possible future infrastructural development, around the property they wish to purchase.
While Housing and PropTiger cater to different target markets, both are eventually online real-estate platforms, looking to ease up consumer end pain in purchasing real-estate properties. However, as is evident, while PropTiger is going with an in-house product development approach, Housing’s model is more inclined towards acquisitions.