Spark Big Data

Realtycompass.com, the country’s first project search engine, has inked an agreement on data sharing with the Indian Institute of Management Bangalore’s real estate research initiative. As part of the agreement, realtycompass.com will provide subsidized access to details of new projects at various stages of construction in Bengaluru to IIMB’s Real Estate Research Initiative -- CRERI -- for research purposes. CRERI constantly strives to promote transparency in the real estate sector, especially in the discovery of true market prices of properties. Last year, CRERI had launched iboughtproperty.com, a platform which successfully crowdsourced information about transaction prices of properties in Bangalore. “Realtycompass.com’s focus on new developments in the city perfectly matches our current research requirements,” said Dr. Venkatesh Panchapagesan, who leads CRERI at IIM Bangalore. Data aggregation and analysis in this rapidly growing industry leads to valuable insights that assist both in public policy making and in providing analytic insights for consumers. CRERI’s research interests currently span diverse areas such as affordable housing, housing supply demand and pricing analytics, creating housing indices and real estate related financial products including REITs. “The data sharing agreement with IIM Bangalore is a validation of high quality data for new projects on our site,” said Nimesh Bhandari, co-founder & CEO at realtycompass.com Ab...

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