For just Rs 10,000, you can get details of a real estate project — including information the developer won't share with you.

Real estate intelligence platform PropEquity has said it will shortly be launching a B2C vertical to cater exclusively to consumers who want to invest in the real estate sector.

“Our new vertical will provide complete project data, history of the developer, clarity on land titles, besides rating developers based on their performances including delivery parameters. Consumers can get the report by paying anywhere between Rs 3,000-Rs 10,000,” Mr Samir Jasuja, CEO, PropEquity said. The new vertical will cover all asset classes, including retail, commercial and residential.

The company, which started with 3,000 real estate projects in more than 10 cities in 2007, has grown to more than 39,000 projects of 7500 developers in 40 cities. It currently functions in verticals including customised research, collateral risk management, and realty indices. Funded by a US hedge fund, PropEquity was started by Mr Jasuja, to capture data in the real estate space. The company has three different revenue streams, including a subscription model for developers and PEs, a consulting model, and for assisting banks with data for HNIs.

Godrej to redevelop Mumbai property

Godrej Projects Development Private Limited has entered into a Development Management Agreement with R. R. Builders to redevelop a MHADA property in Byculla, Mumbai. Godrej Projects, a subsidiary of Godrej Properties, will be the development manager and handle the concept, design, sales, and marketing of the project. The 2.5-acre project will offer 300,000 square feet of free saleable area, and is to be developed as a modern group housing residential development of 2-, 3-, and 4-BHK apartments. The site is situated close to 48 acres of sprawling greens of the Jijamata Udyan, and will offer views of both the eastern and western waterfronts and the panoramic cityscape of Mumbai city, said a press release from the company.

Godrej Projects will be entitled to a Development Management Fee of Rs 50 crore from R. R. Builders for the duration of the project. In addition, it will receive part of the revenue, beyond the defined selling price.

The entire costs for design, construction, and development of the project will be borne by R. R. Builders in its role as owner-developer, while the cost for sales and marketing will be borne by Godrej Properties in its role as development manager. Mr Pirojsha Godrej, Managing Director & CEO, Godrej Properties, said in the press release, “the redevelopment project in Byculla under the development management model allows Godrej Properties to benefit from this development with very limited risk.”

Established in 1990, Godrej Properties Limited (GPL), the real estate arm of the Godrej Group, is currently developing projects in 12 cities across India. Godrej Properties Ltd is listed on the Bombay Stock Exchange (BSE) and The National Stock Exchange (NSE).

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