Realty portal Magicbricks.Com has acquired property analysis platform Properji.Com for an undisclosed amount and plans to come up with reports for more than 10,000 projects in six metros that would help prospective buyers in taking right decision
New Delhi: Realty portal Magicbricks.Com has acquired property analysis platform Properji.Com for an undisclosed amount and plans to come up with reports for more than 10,000 projects in six metros that would help prospective buyers in taking right decision.
Properji.Com, which started its operation in 2013, has presence in Bengaluru. The start-up provides detailed research to buyers and has prepared reports for about 100 projects.
Magicbricks.Com has acquired Invact Technologies, which runs Properji.Com.
"We have acquired Properji.Com which does independent analysis of projects. This will help the consumer to make an informed property buying decision," Magicbricks.Com CEO Sudhir Pai told PTI.
This is the first acquisition by the Magicbricks.Com, he said, but it did not disclose the acquisition value.
"Given our reach and scale, we would be taking this platform to six metros including Bengaluru. We would like to prepare report for 10,000-15,000 projects, both completed and under-construction, having great demand," Pai said.
Part of the report would be free for consumers while part of it would be chargeable.
Talking about the synergies, Pai said Magicbricks.Com generates huge data through listing of properties and same would be utilised for analysing the projects.
Magicbricks.Com is a leading realty portal and is owned by Magicbricks Realty Services Ltd which is a subsidiary of Times Internet Ltd. The portal has over 80,000 projects and over 1.2 million listings.
The acquisition would help Magicbricks to strengthen its consumer proposition by offering in-depth information and analysis of projects that help consumers to choose the project that best suits their needs, the company said.