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PropTiger acquires Makaan; Aditya Verma will report to Dhruv Agarwala

Online real estate services portal PropTiger has acquired real estate classifieds portal Makaan.com, though Makaan.com will continue operating as an independent entity as of now. The terms of the deal and deal size have not been disclosed. Following this deal, Makaan.com CEO Aditya Verma will be reporting to PropTiger co-founder & CEO Dhruv Agarwala. PropTiger will now start listing properties on its sites, along with the services it offers home buyers, real estate developers, property brokers, banks and private equity investors. It's also worth noting that Makaan.com had recently launched a real estate investment section (currently in beta). PropTiger, which offers home buyers services such as site visits, price negotiations, documentation, home financing, registration and post sales services, claims to have sold around 12,000 homes worth about $1.2 billion since 2011. The company, which also provides real estate consulting and data services to real estate developers, private equity investors and banks, has a team of over 500 people including engineers, product experts and property advisors in eight major Indian cities. On the other hand, Makaan.com, which was founded in 2007, was one of the first online real estate marketplaces in India. It claims to currently have around 200,000 active property listings on the site and that 40% of Makaan.com’s traffic comes from mobile. Out of Box Interaction acquisition: The current deal comes on the back of PropTiger acquiring user interface design firm Out of Box Interaction, earlier this month. At the time, PropTiger had mentioned that this acquisition will allow it to improve the…

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