Diabytes
PropTiger News
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As per the data, Noida saw the maximum rise in sales by 59 percent to 6,652 units.
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Housing sales fell marginally by 4 percent during April-June period at 53,352 units in the nine major cities of the country due to demand slowdown in the property market, according to a report by PropTiger.Com.
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With the demand for affordable housing increasing, the segment witnessed a significant growth in fiscal 2017 and it contributed over 50 percent to the total sales during the October-December 2016 quarter, a recent survey revealed.
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Former Housing.Com CEO Jason Kothari has been roped in by Snapdeal to head the e-commerce company's strategy and investment operations, a day after the merger of the realty portal with PropTiger.
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Online real estate advisor PropTiger today said it has acqui-hired Mumbai-based startup PropRates, a move that will help the News Corp-backed realty portal to add advanced data collation tool to its offering.
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News Corp-backed realty portal PropTiger.Com is likely to sell about 3,500 housing units worth Rs 2,100 crore during the fiscal, up 17 per cent from the last year, helped by its entry into secondary property market through the acquisition of Makaan.Com
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In November last year, News Corp acquired a 25 per cent stake in Singapore-based Elara Technologies Pte Ltd which owns PropTiger.Com.
"While India's real estate sector continues to work its way through challenging macro conditions, we remain very optimistic, not only about India's long-term potential but also about the management team of PropTiger in its ability to execute, rationally and deliberately," News Corp Senior Vice President, Strategy, Raju Narisetti who also chairs Elara's Singapore-based board, said.
PropTiger's parent firm, Elara Technologies said it has entered into a transaction with Makaan.Com Pvt Ltd, owner of the site.
Backed by funding from Rupert Murdoch-led News Corp, realty portal PropTiger has forayed into secondary market property transactions and plans to expand operations in ten more cities in the next 18 months.
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