Online real estate portal Housing.com has acquired the Delhi-based real estate analytics portal Realty Business Intelligence, reports PTI. The deal value is estimated to be between $2-4 million. This acquisition is likely to help Housing provide users, including real estate investors, with more data to make informed purchases.
It’s not clear if this is a talent acquisition as well, and if Realty BI will continue operating as an independent entity. We’ve written to Housing, and will update once we hear back.
Realty BI provides information regarding the real estate sector, including real estate trends and risk management tools. It claims to specialize in project approval and project monitoring services, and developing project rating models and market intelligence reports.
Interestingly, last week during a Reddit AMA session, Housing CEO Rahul Yadav had said that the company had recently acquired a legal and due diligence company, which will enable Housing to cross check all new projects that are listed on the site, and ensure that the legal status of the apartment/building is verified. He, however, didn’t disclose the name of the company.
IREF acquisition: Housing.com had acquired realty-focused online community Indian Real Estate Forum (IREF) for Rs 8 crore, in March this year. At the time, the forum had about 1.5 lakh members, though it wasn’t clear how many of them were active users. IREF was expected to function as an independent entity, with Housing co-founder Ravish Naresh heading it. The company had plans of introducing an “Ask Me Anything” section in the forum that would allow prospective home buyers to post questions regarding projects, brokers and builders and seek answers from IREF members.
Housing funding: In December last year, Housing had raised $90 million from Softbank Group, with participation from Falcon Edge and other unnamed investors. At the time, the company had said that it planned to use the funds to map over 40 million houses across 300 cities in India. It seems acquisitions were also part of the plan.
On the product side
– In November last year, Housing had launched an interactive home booking platform called Slice View in partnership with Tata Value Homes.
– The same month, Housing.com introduced a new online rental agreement service that allows users to create a rental agreement online and get the physical copy delivered to their homes. The company takes care all the paperwork on behalf of the user, including paying the stamp duty and delivers a physical copy within 48 hours, for a flat fee of Rs 75.
– The company had launched a Home Loans product in partnership with six financial institutions that provides buyers looking for home loans with customized solutions to finance their purchase, also in November.