India: PropTiger buys property transaction data provider PropRates

Online real estate advisor PropTiger.com said on Monday that it has acquired Mumbai-based start-up PropRates, which gathers real estate transaction data.

The acquisition, the price of which was not disclosed, will enable PropTiger to offer consumers real-time data about property transactions, both sales and rentals, in Mumbai in order to determine the fair market value of a property.

News Corp.-backed PropTiger, which also owns real estate portal Makaan.com, has been acquiring start-ups to gain strength in areas such as data research and 3D reality (which enables buyers to look at properties in a 3D environment).

PropTiger bought a start-up called 3DPhy in August to strengthen 3D visualization.

Last year, PropTiger bought Bengaluru-based OoBI Media Solutions Pvt. Ltd, which operates a digital interaction design start-up under the Out of Box Interaction brand.

PropTiger has been offering new products such as 3D realty and real estate data insights to widen its revenue stream from the current dependence on commissions from real estate transactions.

While the 3D visualization service is yet to gain widespread acceptance in the real estate market, other portals such as commonfloor.com and housing.com are also experimenting with the technology.

“With this acquisition, PropTiger will be able to augment its existing DataLabs offerings. The advanced data collation tool developed by PropRates will enable users make more informed choices based on actual transaction prices while buying or renting property,” said Dhruv Agarwala, chief executive officer of PropTiger.com and makaan.com.

PropTiger plans to tap its wide user base to offer its real estate data insights.

The PropRates service will initially be available in Mumbai and later extended to nine other cities under the next phase of expansion, the company said.

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This article was first published on Livemint.com

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.