magicbricks Gurgaon office

magicbricks Gurgaon office

India-based real estate portal magicbricks.com, which has operations in India and 14 other countries, has acquired Properji.com, a Bangalore-based property listing site.

The transaction details remain undisclosed.

This would help magicbricks to strengthen its consumer proposition by offering in-depth information and analysis of projects that help consumers to choose the project that best suits their needs.

We have over 80,000 projects and over 1.2 million listings on magicbricks. Our consumers are asking us less about inventory availability, they are asking us more to help them with information that would help them choose between properties. With Properji’s expertise, we hope to inject confidence and strong decision support to buyers,” said magicbricks CEO Sudhir Pai said.

Priya Maheshwari, Co-founder & CEO, Properji, said: “magicbricks has a lot of data at its backend, in addition to the vast scale of the platform in the form of users and developers. Combining this vintage and scale with the systems and knowledge that Properji provides, consumers are sure to be in good hands when they access the research platform being built under this partnership.”

In photos: India’s magicbricks is building a fun office

Started in August 2013 by Maheshwari, Guruprasad Bangle and Naveen Galithoti, Properji claims to be a pro-buyer portal that provides users with unbiased reports and reviews about builders and their projects. The startup gives them all the information on a project, including price point analysis, builder review, location analysis, ROI, appreciation potential as well as risks.

Properji tries to inject transparency into real estate transactions in India. The site displays ratings of builders and projects, and also assists users with basic legal review after agreement, civil & architectural review.

Started in 2006, magicbricks provides a platform for property buyers and sellers to locate properties of interest and source information on the real estate space. The company provides services in over 60 cities across India, in addition to 14 foreign countries, including the US, the UK, Dubai, Spain, Thailand, Thailand, Singapore, South Africa and New Zealand.

India’s online real estate space has been going through a tough time of late. A few months ago, SoftBank-backed Housing let go off 600 people. Classifieds company Quikr, which recently merged with CommonFloor, laid off 150-200 employees of the real estate portal a few days ago, according to various reports.