Realty portal Housing.com buys online discussion “Indian Real Estate Forum”
Housing.com buys online discussion forum IREF
Recently, a real estate portal Housing.com buys online discussion forum IREF (Indian Real Estate Forum) with a aim to provide and improve the content which can help the real estate investors and home buyers to make choices which and retain or attract the first time buyers in the retail real estate market.
This Mumbai-based real estate portal is financially backed by Japan’s SoftBank and after the deal it is expected that Housing.com will pay Rs 8 crore to acquire Indian Real Estate Forum that have a base of more than 1.5 lakh active users. Apart from that the first two acquisitions of company is expected to close in next one to two months.
In December 2014, Housing.com has received a funding of about $ 90 million or Rs 560 crore from Japan’s SoftBank and after that they has set apart a corpus of Rs 200 crore for acquisitions. According to the officials of Housing.com, after the acquisition IREF will function independently under the charge of Ravish Naresh who is a cofounder at Housing.com.
The forum is well known real estate platform for its unbiased and transparent project information’s, developers information’s, localities information’s, agents or brokers information’s, and plots information’s. According to officials of Housing.com we are in the last stage to acquire PropEquity and the deal is of Rs. 80 crore, but executive of PropEquity are saying that they have declined the deal.
While coming to desired changes in IREF, it is expected that there will be few changes in the section of IREF as Housing.com is planning to answer each and every query related to the builders, projects, brokers and agents. Whereas;, the Housing.com also planning to buy PropEquity, so that it can attract more and more business users as it is well known fact that PropEquity is a real estate data it its most of the clients are PE developers,investors and financial services who love to spot the market trends to generate the insights about real estate market.
