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Real estate portal Housing.com today announced acquisition of Realty Business Intelligence, a firm focused on risk assessment of real estate projects, for Rs 10 crore.
Recently, Housing.com had put off its deal to acquire Gurgaon-based PE Analytics, which owns a real estate data product PropEquity on valuation issues.
Backed by this acquisition, Housing.com will further augment its due diligence efforts to ensure verified listings, risk free transactions and secure investments while giving Realty BI access to a vast database of realty developers and end consumers, Housing.com said in a release.
Founded by ex-bankers, Realty BI provides a wide array of solutions encompassing due diligence, back-end research, project monitoring and business intelligence catering to lenders, investors and buyers.
The company has been working with banks, housing finance companies and non banking finance companies across the country to provide a unified collateral risk assessment platform assuring a minimum 50% reduction in overall costs and back-end work related to due diligence.
Commenting on the acquisition, Rahul Yadav, CEO, Housing.com said, "Housing.com has always endeavored to build a transparent realty ecosystem wherein consumers can make sound and informed decisions when investing in new projects. I have often heard of disturbing instances where a developer having permission to construct a building upto 16th floor selling inventory on 17th or 18th floor to consumers. Through our acquisition of Realty BI, Housing.com strengthens its technology platform and consumer promise to deliver a powerful collateral risk management platform addressing the entire due diligence lifecycle to validate new projects. With our combined strength, we aim to remove ambiguities in the realty industry and bring about faster growth for the industry."
