PropTiger acqui-hires Mumbai-based PropRates

Further looking to build on their data gathering and analysis to augment and fine-tune their offering, real estate advisor PropTiger has acqui-hired Mumbai-based startup PropRates, which gathers real estate transaction data.

As a part of the deal, the team of PropRates will come on board at PropTiger.

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

“PropRates’ exhaustive Mumbai-centric data resource will soon be available to our customers on PropTiger and Makaan,” Agarwala added.

The real estate advisor has been offering technologically enhanced 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.

Abhishek Malhotra, CEO at PropRates, said, “The large user base of PropTiger and Makaan will immediately find our data offering immensely useful for the purpose of picking residential units of their choice for buying or renting in the Mumbai market.”

“We soon plan to extend our services to the next top 9 cities. The tool will help users optimise their decisions and get the best value-for-money deals,” added Malhotra.

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