Housing.com acquires Realty BI

Real estate portal Housing.com has acquired Delhi-based start-up Realty Business Intelligence for an estimated $2-4 million deal (Rs 12-24 crore).

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According to industry sources, the acquisition will help the Softbank-backed firm strengthen its analytics capabilities to help consumers and investors make informed decisions about real estate purchases.

Founded in 2013, Realty BI tracks real estate trends and creates collateral risk management tools through the use of technology. Its clients include banks and HFCs/NBFCs.

Housing.com was started in 2012 by 12 fellow classmates at IIT Bombay and is seen as one of the most successful startups in the real estate space.

Apart from the USD 90 million funding led by Softbank, Housing.com has investors like Helion Venture Partners, Nexus Venture Partners and Qualcomm Ventures on board.

Unitech appoints two independent directors 

Real estate firm Unitech has appointed Sunil Rekhi and Chanderkant Jain as additional non-executive independent directors on the company’s board.

Rekhi is a Chartered Accountant, while Jain is an industrial engineer having wide experience in real estate. The Gurgaon-based company also said that two non-executive independent directors — Anil Harish and Ravinder Singhania — have resigned. Unitech is into development of residential, office, retail, SEZ and hotel projects. — PTI

ASK exits Rajesh Lifespaces' realty project 

Financial services firm ASK Group has sold its 50 per cent stake in Rajesh Lifespaces’ housing project in Mumbai for Rs 125 crore.

In August 2011, the company had invested Rs 55 crore in this project.  ASK, a leading player in the real estate private equity business, said it has exited Raj Altezza, a project by Rajesh Lifespaces, in Mulund, Mumbai. “The investment totaling Rs 55 crore has given a multiple of 2.26 amounting to an exit value of Rs 124.4 crore, thereby recording an impressive IRR (internal rate of return) of 26 per cent,” ASK Group said in a statement earlier this week.

The group has chalked out detailed plans of exits from other investments over the next 6-12 months with targeted returns for its investors.

ASK Group, through its real estate business, manages an AUM of Rs 3,000 crore and has committed Rs 1,800 crore in 16 projects spread over 18 million sq ft in the past 18 quarters. ASK Property Investment Advisors is a venture of the ASK Group set up to manage and advise real estate-dedicated funds. 

Global agreement for ‘green’ buildings

In a recent signing ceremony, Bureau Veritas and Green Business Certification Inc. (GBCI), the certification body for the US Green Building Council’s LEED green building program, finalised the terms of their exclusive global agreement to facilitate LEED certification internationally. LEED is the world’s foremost programme for the certification of design, construction, maintenance and operations of green buildings, with more than 1.8 million sq ft of commercial building space certified daily. 

As part of the agreement, Bureau Veritas teams around the world will review LEED projects for conformity with GBCI’s strict standards for certification. Immediate plans for local LEED review teams have been drawn up for China, Brazil and India, where Bureau Veritas employs approximately 21,000 employees. Local review teams will enhance customer engagement and local support for LEED while advancing the goal for future site verification.