March 4, New Delhi: Indian Army has signed an agreement with PropEquity, India’s leading real estate data, research and analytics firm to assist in acquiring houses for its officials.
In a historic move the Army Welfare Housing Organization (AWHO) has awarded PropEquity with the mandate to facilitate the acquisition of homes for army personnel from private developers. The process will entail project identification, price negotiations, due diligence and ensuring buyer friendly terms and conditions.
AWHO has come up with a business model called the ‘Private Industry Collaborative Business Model’ which will facilitate acquiring houses from reputed private builders at discounted prices for Army personnel & Veer Naris.
“We are honored to be selected by the Indian Army to assist them in identyfing best housing projects across India. The major challenges in home buying is that many projects are being delayed by several years, construction quality is not of global standards, agreements are skewed in favour of developers and prices are unreasionably high. However, with out expertise in data, analytics and research and tracking of over 86,615 projects of 23,477 developers across over 42 cities, we will ensure best deals for our armed force. We salute the selfless contributions of Indian Army and extend our full support in advising them for home acqusitions,” Mr. Samir Jasuja, founder and CEO at PropEquity said.
The MoU on this momentous occasion was signed by Lt Gen Rakesh Sharma, UYSM, AVSM, VSM, Chairman (ex-officio), AWHO and Mr. Samir Jasuja, MD Propequity on 3 March, 2017.
Indian Army is one of the top two employers in the country and this landmark agreement will drastically ease the tedious process of identifying and buying best housing properties for its employees.
A pilot project is being undertaken in Delhi/ NCR and based on its success, similar ventures will be executed in other locations.
P.E. Analytics owns and operates PropEquity which is an online subscription based real estate data and analytics platform covering over 86,615 projects of 23,477 developers across over 42 cities in India. We add approximately 300 projects every month. It is a premier Business Intelligence product- a first of its kind in India in the Realty space.
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