Real estate data analytic firm PropEquity has started a new business vertical 'PropAlert' to provide regular updates to homebuyers about the progress of construction activities in housing projects.
The vertical has been specifically designed to safeguard the interests of homebuyers after purchasing under-construction properties.
In a statement, PropEquity said the new service line PropAlert will provide "real-time updates and actionable intelligence of construction activities of real estate projects to homebuyers of under-construction properties".
PropEquity, listed on the NSE, expects to generate a revenue of Rs 12 crore and gain subscribers upwards of 10,000 by September 2025.
Samir Jasuja, Founder and CEO of PropEquity, said, "PropAlert will usher in an era of enhanced transparency, relevant information and real-time alerts for the homebuyer of under-construction properties."
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With an objective to protect the savings of homebuyers, he said PropAlert endeavours to bridge the knowledge asymmetry that exists between homebuyers and real estate developers.
"It will facilitate not just homebuyers in India but also NRI investors to monitor the progress of their under-construction properties at the click of a mouse," Jasuja said.
According to a recent report by PropEquity, more than 5 lakh homes across nearly 2,000 projects are stalled.
PropEquity said it is already providing the same project monitoring services to over 70 institutions and banks in 100-plus cities & towns.
"PropAlert operates on an unbiased audit conducted by in-house civil engineers who perform on-ground visits, capturing real-time pictures and collecting data across over 100 data points. This thorough process ensures that the information provided is accurate and reliable," the company said.
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P E Analytics Ltd, the parent firm of PropEquity, has invested over Rs 200 crore in the last 17 years and will continue to invest Rs 2 crore every month towards monitoring, tracking, and generating intelligence on projects and developers, the statement said.
PropEquity covers over 1,70,000 projects of more than 57,000 developers across 44-plus cities in India with more than 16 years of catalogued data.
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