Online real estate advisor
PropTiger.com has acquired Mumbai based start-up PropRates, which gathers real
estate transaction data. The acquisition will enable PropTiger to offer
consumers real-time data about property transaction, 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. 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.
PropTiger plans to tap its wider
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.
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