Properji provides users with information on a project, including price point analysis, builder review, location analysis, ROI, appreciation potential as well as risks
The transaction details remain undisclosed.
This 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.
“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,” Magic Bricks CEO Sudhir Pai told PTI news agency.
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Started in August 2013 by Priya Maheshwari, Guruprasad Bangle and Naveen Galithoti, Properji claims to be a pro-buyer portal that provides users with unbiased reports and reviews about builders and their projects. The startup gives them all the information on a project, including price point analysis, builder review, location analysis, ROI, appreciation potential as well as risks.
Properji tries to inject transparency into real estate transactions in India. The site displays ratings of builders and projects, and also assists users with basic legal review after agreement, civil & architectural review.
Started in 2006, magicbricks provides a platform for property buyers and sellers to locate properties of interest and source information on the real estate space. The company provides services in over 60 cities across India, in addition to 14 foreign countries, including the US, the UK, Dubai, Spain, Thailand, Thailand, Singapore, South Africa and New Zealand.
India’s online real estate space has been going through a tough time of late. A few months ago, SoftBank-backed Housing let go off 600 people. Classifieds company Quikr, which recently merged with CommonFloor, laid off 150-200 employees of the real estate portal a few days ago, according to various reports.
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