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Housing.com, today 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% 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 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. 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, “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”
According to Rajeev Nohwar, Founder & CEO, Realty Business Intelligence Pvt. Ltd., “We are delighted to become a part of Housing.com, a company known for setting industry benchmarks with innovative products and solutions. Given Housing.com’s commitment to removing information asymmetry from real estate, we believe there are huge synergies between the companies striving to bring transparency in the realty industry. 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.”
“Start-ups that want to disrupt their industries will need to create real value proposition for the ecosystem. Housing.com is leading on this front following a clear strategy of make or buy to quickly scale its offerings for all its stakeholders.” says Sumir Verma, Mersis Advisors, the investment banking firm that is advising Housing.com on all M&A transactions.
Commenting on the impact of the acquisition on the industry, Mr. Sachin Chaudhary, Business Head – Indiabulls Housing Finance Limited added, “The Indian real estate industry is witnessing phenomenal growth, however the sector continues to be plagued by rampant malpractices related to delayed project approvals and gaps in execution. This poses significant challenges for individual buyers and investors and lays obstacles in seamless approvals of home loans, necessitating strong due diligence norms for upcoming realty projects. Housing.com’s acquisition of Realty BI, strives to minimize skepticism in the real estate sector by ushering risk averse investments and greater transparency for end users.”
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.