Housing.com, India’s most innovative real estate platform has formally announced the acquisition of Realty Business Intelligence, an organization focused on risk assessment for realty projects. The deal was closed for a sum of Rs.10 crore in cash towards purchase of 100 per cent equity of Realty Business Intelligence.
With this acquisition, Housing.com customers will now be empowered with credible real estate market intelligence and risk assessment to aid informed decision making for investments in new projects. This in line with Housing.com’s vision to bring transparency into the opaque world of real estate that is fraught with risks when it comes to retail investments in new projects.
Backed by this acquisition, Housing.com will further augment its 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.
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, HFCs & NBFCs 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 stated, “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”.
According to Rajeev Nohwar, Founder & CEO, Realty Business Intelligence Pvt Ltd, “Backed by our comprehensive project due diligence and monitoring services and association with Housing.com, we aim to scale our business across key metros as well as expand our customer base to now empower retail investors to assess risks associated with investments.”
Earlier this year, Housing.com had acquired Indian Real Estate Forum (IREF), to provide trustworthy information and end-to-end services to all stakeholders. With these acquisitions, Housing.com consolidates its leadership position as a comprehensive online realty player and a game changer striving to bring positive change in the real estate industry through its consumer centric products and solutions.