Gurgaon headquartered Real Estate
advisory and brokerage firm Square Yards Consulting Pvt. Ltd., is set to merge
with Real Estate research portal Realizing.in. The move is aimed at capturing
15 per cent market share of India’s Real Estate search market in the next few
years. As part of the deal, the entire team of Realizing which is owned by IDW
Technology Pvt. Ltd., would join square yards.
The Realizing.in portal would be
rechristened as Square yards and the group would continue to build research
capabilities under the Realizing brand. The ultimate aim is to evolve Realizing
into a big data analytics platform for global real estate. Square yards, which
operates a portal by the same name has been evolved in real estate transactions
worth $350 Million since starting operations.
Square yards offers solutions for
property related needs. It caters to residential projects, hotels projects,
student accommodation, and mall development. Square yards had raised $6 Million
in a pre-series round of funding from a clutch of unnamed investors in May this
year. The company claims to have clocked revenue of Rs 38 crore in its first
year of operations. Realizing.in offers services such as city heat maps, carpet
area and built up area calculations for property transactions. It also helps
users with key property related decision based on automated algorithms.
India’s online property search
market has evolved radically over the last few years. The leading companies in
this space are Softbank backed Housing, News Corp backed PropTiger and Tiger
Global, Accel Partners and Google Capital backed CommonFloor besides the legacy
players. Times Internet promoted Magic Bricks, Info Edge 99acres.com and
Chennai based India Property.
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