In the backdrop of lakhs of homebuyers waiting for the delivery of their homes in the stalled housing projects across India, putting lakhs of crores of investment at stake, PropEquity, India’s largest real estate data analytics company, has launched a new service, ‘ PropAlert’ to provide real-time updates and actionable intelligence of construction activities of real estate projects to homebuyers 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.
According to Samir Jasuja, Founder & CEO, of PropEquity, as per their data, more than 5 lakh homes across 2000 projects are stalled and the company is already providing project monitoring services to over 70 institutions & banks in 100+ cities and towns. And now PropAlert will usher in an era of enhanced transparency, attempting to bridge the knowledge asymmetry that exists between homebuyers and real estate developers, thereby safeguarding the investment of end-users and investors including NRI investors.
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