Indias foremost integrated real estate platform Square Yards has officially confirmed its acquisition of data intelligence, asset management and real estate services provider PropsAMC. The value of the deal has not been revealed although the whole PropsAMC team and the co-founders will come on-board at Square Yards. They will keep functioning within the larger entity while retaining their original brand name. PropsAMC was established in the year 2016 by two industry veterans. They are ex-real estate head at RBS Private Banking, Karvy Private Wealth and ILF&S Milestone Fund, Anand Moorthy and his partner Venkat Raghavan who has held senior technology positions at GE Healthcare, Fidelity and Infosys among other leading companies.
PropsAMC presently possesses $1.5 billion of assets under management on its SaaS-based platform. It serves 100+ clients along with offering technical, legal and valuation services as well. The platform has more than 1 million data points pertaining to more than 15 novel denominators. These help in analyzing transaction-related data on lease/sales along with government value, mortgage, land ownership, zoning, land information, road-width, reservation, building permissions and RERA information via the GIS-enabled unique interface which backs post and pre-transaction diligence.
The unique platform has already mapped data metrics for Chennai, Pune, MMR and Gurgaon while seeking to add Kolkata, Hyderabad, Ahmedabad and Delhi in the future. The company is also piloting two unique ventures with leading Indian banks, namely the countrys first-ever Digital Title Search and Property e-Valuation platforms. The CEO and Founder at Square Yards, Tanuj Shori, stated that with the acquisition of PropsAMC, the company is now providing highly differentiated and novel asset management and data intelligence abilities for the entire real estate ecosystem at Square Yards. The company will be deploying sizable investments in data-based abilities at PropsAMC with a view towards creating the most extensive Housing Dictionary ever in Indian real estate. This will be mapping each and every real estate transaction in the organized real estate space throughout Indias top cities. It will cover mortgage, rent, sale and listings among all other parameters according to him. He also added that there will be a worldwide scale-up for real estate and asset management solutions offered by PropsAMC. It will be offered to all clients for enabling better property portfolio management. The Founder & CEO at PropsAMC, Anand Moorthy, stated that the company is pleased to come on-board at Square Yards. He also highlighted the latters unique focus on realty transactions and its desire to offer more engagement in overall cycles of buying to selling via its platform.
Square Yards is a technology-enabled, global real estate aggregator and India’s largest player for primary residential real estate. It’s subsidiary Square Capital is one of the largest marketplace for secured mortgages in India. Square Yards platform offers an integrated consumer experience & covers the full real-estate journey from search, discovery to research, transactions, home loans and post-sales service – fully integrating buyers to an extensive network of 500+ partner real estate developers, and 90+ banks & NBFCs. Square Yards is led by accomplished professionals, ex-bankers, and Ivy school alumni and is backed by the competence of more than 2500 employees in 30 cities and ten countries.