New Delhi, September 06, 2024.

Lakhs of homebuyers across the country continue to wait for possession of their dream homes. As per recent data, close to 5 lakh housing units are stalled for years with most of them witnessing little or no progress in the last few years. Many of the homebuyers have very little option but to fight a long legal battle with the erring developers. But this may change soon and homebuyers will be able to get a constant update on the construction activities of their dream homes.

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.

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.