NewsCorp-backed online real estate firm PropTiger has acquired Makaan.com for an undisclosed amount.

Earlier this month, PropTiger.com announced the acquisition of Bangalore-based Out of Box Interaction, a digital interaction design company that specialises in displaying real estate projects in an efficient and immersive way.

Sale on platform In November 2014, global media, book publishing and digital real estate services company News Corp took a 25 per cent stake in Elara Technologies, the owner of PropTiger.

Since 2011, some 12,000 homes worth $1.2 billion have been purchased through the Proptiger.com platform.

Across cities It has a team of over 500 people including engineers, product experts and property advisors in eight major Indian cities.

Makaan.com was founded in 2007 and has around 200,000 active property listings and relationships with 40,000 brokers in 50 Indian cities. Some 40 per cent of Makaan.com’s traffic comes from mobile.

“India’s home-buyers will now have the biggest database of real estate information and related online real estate services that will also offer end-to-end services in major cities nationwide,” said Aditya Verma, CEO, Makaan.com. Following the transaction, Verma will report to PropTiger CEO Dhruv Agarwala.

Home buying service “In addition to being able to combine Makaan.com listings and PropTiger.com’s home buying services, we are delighted we can also now tap Anupam’s proven expertise in profitably engaging digital audiences in India,” said Raju Narisetti, Senior Vice-President, Strategy, for News Corp, who chairs Elara’s Singapore-based board.

Related Topics