The acquisition of Makaan.com makes this as PropTiger’s second acquisition this month after Out of Box Interaction (OoBI), a Bengaluru- based design firm. The acquisition by real estate portal will bring both the rival firms together onto one single online platform to offer end-to-end services to the home buyers, real estate developers, property brokers, banks and private equity investors.
With more than 20,000 active property listings from 40,000 brokers across top 50 cities of the country, Makaan.com is a real estate classified firm that offers buying, selling and renting facilities whereas PropTiger under the banner of Rupert Murdoch offers services like property search, site visits, home loan advice and assistance in final registration property.
As per Dhruv Agarwala, Co-Founder, PropTiger, this deal will provide home buyers with a platform to guide them through the early stages of home search till they have the keys to their home.
PropTiger claims to have sold 12,000 homes worth $1.2 billion till date and has a team of over 500 people including engineers, advisors and product experts in eight major cities of the country. Makaan.com is run by People Group, which also owns matchmaking site Shaadi.com and mobile content company Mauj Mobile. It was founded by Anupam Mittal.