New Delhi [India], Sep 5 : Online real estate advisor PropTiger.com has 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 visualization and other technology solutions.
"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," said CEO PropTiger.com and makaan.com, Dhruv Agarwala.
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 nine 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.
"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 nine cities. The tool will help users optimize their decisions and get the best value-for-money deals," said CEO PropRates, Abhishek Malhotra.
By providing holistic end-to-end technology and data solutions, PropTiger intends to offer greater flexibility, choice, and improved user experience to its customers.