PropTiger acquires PropRates

New Delhi: Online real estate advisor PropTiger on Monday said it has acqui-hired Mumbai-based startup PropRates, a move that will help the News Corp-backed realty portal to add advanced data collation tool to its offering.

With this acquisition, PropTiger aims to provide consumers real-time access to actionable price related information on the property market, PropTiger said in a statement.

"PropTiger.Com has acqui-hired PropRates, which is a pioneer in data collation tools and first in the industry who gathers actual real estate transaction data," it said in a statement. No financial details were disclosed.

The latest acquisition comes close on the heels of the PropTiger's acquisition of Gurgaon-based 3DPhy in August.

"With this acquisition, PropTiger will be able to augment its existing DataLabs offerings. The advanced data collation tool developed by PropRates will enable users to make more informed choices based on actual transaction prices while buying or renting property," ProTiger.Com CEO Dhruv Agarwala said.

PropRates' exhaustive Mumbai-centric data resource will soon be available to customers on PropTiger and Makaan (bought by PropTiger last year), he added.

After Mumbai, the next phase of expansion will see another nine cities being added.

PropRates has been created by Abhishek Malhotra and Rohan Dey in 2015, with the objective of creating transparency in the real estate market.

The team of PropRates will come on board at PropTiger and will continue to build on their data gathering and analysis expertise to augment and fine-tune their offering with the available resources at Proptiger.