Integrated real estate platform Square Yards has announced the acquisition of PropsAMC, data intelligence, asset management and real estate services, the company said.
The deal value has not been disclosed.
The entire team of PropsAMC including its co-founders, have joined the Square Yards team and will continue to operate under the larger umbrella with the same brand name.
PropsAMC was founded in 2016 by Anand Moorthy, ex real estate head of RBS Private Banking, Karvy Private Wealth and ILF&S- Milestone Fund and Venkat Raghavan who previously worked with companies like Fidelity, GE Healthcare and Infosys in senior technology roles.
It currently manages $1.5 billion worth of property assets on its SaaS-based platform for more than 100 clients in addition to providing legal, technical and valuation services to them.
Its data platform has over a million data points on over 15 unique denominators to analyze transaction data (sale/lease), mortgage, government value, land ownership, land information, zoning, reservation, road-width, building permissions and RERA details – on a GIS-enabled interface to support pre and post transaction diligence.
The platform has an extensively mapped data metrics of MMR, Pune, Gurgaon, Chennai and will add Hyderabad, Kolkata, Delhi, Ahmedabad and Bengaluru soon. The company is also piloting India’s first Digital Title Search and Property e-Valuation platforms with some of the leading banks in India, the company said.
“With PropsAMC, we are adding very unique and differentiated Data Intelligence and Asset Management capabilities to our integrated real estate ecosystem. We will invest heavily in the data capabilities of PropsAMC with a vision of building the most comprehensive Housing Dictionary for Indian real estate that maps every single transaction (listing, sale, rent or mortgage) for every organized real estate project in the top Indian cities,” said Tanuj Shori, Founder and CEO, Square Yards.
The asset management and real estate services platform will be scaled up globally as a consumer platform and be offered to all our clients to help them manage their property portfolios”
“We are very excited to be a part of the Square Yards family – which stands clearly focused on transactions and wants to bring higher engagement in the overall buying to selling cycle on its platform," said Anand Moorthy, Founder & CEO of PropsAMC.
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