PropEquity, India’s largest real estate data analytics company, has launched a new business vertical “PropAlert” to provide real-time updates and actionable intelligence of construction activities of real estate projects to home buyers of under-construction properties.
PropAlert is the first and only solution in India specifically designed to safeguard the interests of homebuyers after purchasing under-construction properties. Through this innovative service, PropAlert proactively protects homebuyers from the risk of losing their lifetime savings by identifying and addressing potential issues with stalled projects before they escalate. This ensures that buyers are better equipped to make informed decisions and avoid falling into financial traps.
According to a recent report by PropEquity, more than 5 lakh homes across nearly 2,000 projects are stalled. The government is also making significant efforts by already setting up a dedicated committee under the chairmanship of Mr. Amitabh Kant (Ex-CEO, Niti Aayog). The committee has already held five meetings involving various stakeholders, including state authorities, regulators, real estate developers, homebuyers, and financiers. A recent report released by the committee further highlights the dire state of the situation.
The NSE-listed firm said PropAlert is expected to generate a revenue of Rs 12 crore and gain subscribers upwards of 10,000 by September 2025.
PropEquity is already providing the same project monitoring services to over 70 institutions & banks in 100+ cities & towns.
Commenting on this development, Mr. Samir Jasuja, Founder and CEO, PropEquity said, “PropAlert will usher in an era of enhanced transparency, relevant information & real time alerts for the homebuyer of under-construction properties. With an objective to protect the savings of homebuyers, 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.”
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.
Key offerings include:
- Real-Time Construction Progress Alerts, keeping buyers informed about the status of their projects.
- Project & Developer Alerts for Defaults & Delays, helping buyers anticipate and address potential issues.
- Actionable Intelligence, such as exit options, to safeguard buyers’ investments.
- Developer Record Checks to verify the credibility of developers.
- Legal Checks on both projects and developers to ensure compliance and transparency.
- Comparisons of Nearby Projects to help buyers make informed decisions.
- Historical Price Changes, allowing homebuyers to understand market trends and assess project viability.
The company said it has invested over Rs 200 crore in the last 17 years in P.E Analytics Limited, the parent company of PropEquity and will continue to invest Rs 2 crore every month towards monitoring, tracking, and generating intelligence on projects and developers.
PropEquity’s long history of trust, bolstered by 17 years of comprehensive historical data, positions the company uniquely to address the growing challenges faced by homebuyers in India. No other company is equipped to provide such extensive data and insights to the general homebuying public. As a result, PropAlert is poised to tap into this market single-handedly, offering a solution that no competitor can match in terms of depth and reliability.