Housing.com buys Realty Business Intelligence for 10 crore

Housing.com has acquired Realty Business Intelligence for Rs 10 crore, strengthening its real estate market intelligence and risk assessment for realty projects.

Now, Housing.com’s customers will get transparent data about retail investments in new projects.

Founded by ex-bankers, Realty Business Intelligence 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.

“Housing.com has always endeavoured 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,” said Rahul Yadav, CEO, Housing.com

Meanwhile, Rajeev Nohwar, Founder & CEO, Realty Business Intelligence said that there was synergies between the two companies that were striving to bring transparency in the realty industry.

“With our 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,” said Nohwar.

Sachin Chaudhary, Business Head, Indiabulls Housing Finance Limited said that the acquisition will minimise the scepticism 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.