India’s real-estate market is huge, amounting to Billions in valuation. But at the same time, it is highly irregular and scattered. However startups have started coming up with online solutions, in a bid to organise that market and make it easy for consumers to get property online. Adding on to that list, Propstack, a Mumbai-based online real-estate platform has grabbed $3 Million in strategic investment from dmg information’s Asia Pacific division.
Established in 2013, Propstack is a commercial real estate information business based in Mumbai. Propstack conducts extensive, on-going research on commercial buildings in India, enabling clients to analyse, interpret and gain insight on commercial property availabilities, lease and sale transaction comparables and access the market conditions.
Propstack’s current traction includes professionals working in corporates, funds, rating agencies, brokers, owners, developers and vendors in Mumbai. With this fresh push of capital, Propstack will soon expand its services to the commercial real estate hubs of Pune, Bangalore, Chennai, Delhi-NCR, Hyderabad and Kolkata.
Raja Seetharaman, Co-Founder at Propstack says,
It is a great moment in the Propstack story for us to have an investor such as DMGT. We look forward to a long and mutually beneficial relationship, as we work to establish our company as the market leader in the provision of property valuation data and technology in India.
Propstack is based on an online subscription model that provides a diverse range of information catering to all commercial real estate research requirements. This includes detailed building information, analytics, client stacking, availability/vacancy details, transaction details and trends.
Seetharaman further says,
We are currently concentrating on expansion to multiple cities and creating different products. We already have existing subscriptions from a variety of funds, corporates, banks and wealth management firms. In addition we are the exclusive data partners for real capital analytics hq’d out of US. Specific numbers on revenues are confidential for now
While we obviously have the likes of Proptiger, Commonfloor and others working in online real-estate domain, Propstack differs itself from the rest by catering specifically to commercial real-estate market. And considering how that is an even bigger problem as compared to personal real-estate, propstack’s market intelligence solutions could be highly successful in the immediate as well as distant future.