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Magicbricks Acquires Property Analysis Platform

Magicbricks Acquires Property Analysis Platform

Realty portal has acquired Bangalore-based property analysis platform for an undisclosed amount, reported ET.

Started in 2013 by Priya Maheshwari and Guruprasad Bangle, provides consumers with fact-based independent research reports on properties and brokers. Consumers can choose subscription packages and accordingly, Properji team of senior property advisors assist the users. The startup has prepared reports for about 100 projects.

“We have acquired which does independent analysis of projects. This will help the consumer to make an informed property buying decision,” said CEO Sudhir Pai.

The company plans to come up with more than 10,000 projects in six metros to help prospective buyers take right decision. “Given our reach and scale, we would be taking this platform to six metros including Bangalore. We would like to prepare report for 10,000-15,000 projects, both completed and under-construction, having great demand,” added Pai.

As for Magicbricks, it is a realty portal and is owned by Magicbricks Realty Services Ltd which is a subsidiary of Times Internet Ltd. Currently, the portal has over 80,000 projects and over 1.2 Mn listings.

The acquisition would help Magicbricks to strengthen its consumer proposition by offering in-depth information and analysis of projects to help consumers choose the project.

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