PropTiger acquires Makaan.com

Real estate portal PropTiger on Wednesday acquired Makaan.com for an undisclosed amount to boost its presence in the secondary property market.

PropTiger’s parent firm, Elara Technologies said it has entered into a transaction with Makaan.com Pvt Ltd, owner of the site. Both the portals will run separately.

“Our parent firm Elara has acquired Makaan.com, which will keep operating as a separate portal. No fresh funds were raised for this acquisition,” said Dhruv Agrwala, Co-founder of PropTiger.com. He did not disclose the acquisition amount.

Asked about the reason for acquiring Makaan.com, Agarwala said: “It has a strong presence in the property resale market, while PropTiger is strong in the primary market.”

Earlier this month, PropTiger had acquired Bangalore-based Out of Box Interaction (OoBI), a digital interaction design company.

In November last year, Rupert Murdoch-led News Corp had acquired 25 percent stake in PropTiger as part of its strategy to expand presence in digital media.