Praveen Sharma appointed Chief Executive Officer of REA India

REA Group is pleased to announce Praveen Sharma has been appointed Chief Executive Officer of REA India and will join REA Group’s Executive Leadership Team.  

As an accomplished leader, Praveen brings a wealth of experience after 25 years in senior management roles across technology, digital, media and advertising in India and Asia Pacific.  

Most recently, Praveen was with Paytm where he built and ran several different businesses including Ads, Online Payments and Commerce services. Leading up to Paytm, Praveen spent nine years with Google, including as Regional Director Performance media-APAC, where he was responsible for Performance ad-products across the region.  

REA Group Chief Executive Officer, Mr. Owen Wilson, said: “I am delighted to welcome Praveen to REA Group and believe his depth of experience in digital businesses across the region will add significant value to REA India.   

“Praveen has a successful track record delivering results, building and leading high performing teams and growing product and technology capabilities. I look forward to his contributions as he leads REA India in its next phase of growth.”  

Commenting on his appointment, Mr. Praveen Sharma said: “I am thrilled to be joining REA India at such an exciting time and leading the team will be a privilege. The opportunities ahead in the dynamic Indian proptech market are significant and I believe REA India is strongly positioned to deliver. I look forward to working closely with the talented team to build on our capabilities, accelerate innovation and provide even more value to our customers and consumers.”  

Praveen will join REA India in July at its headquarters in Gurugram, India, working closely with Mr. Dhruv Agarwala, current CEO of REA India, to ensure a smooth leadership transition.

Indian residential market enters phase of cautious consolidation: PropTiger report

While Bengaluru and Hyderabad continue to drive growth, mature markets like Delhi NCR, MMR, Pune and Chennai recorded no quarterly change in average prices.

May 7th 2025:  The latest edition of Real Insight Residential: Q1 2025 by PropTiger.com, the transaction and advisory services platform that is part of REA India (that also owns Housing.com), reveals that while residential property prices in India have continued to rise on a year-on-year basis, the pace of growth has clearly moderated in recent quarters. After a period of rapid post-pandemic expansion, the market now appears to be entering a phase of cautious consolidation.

 

Market cooling, not crashing

The report highlights that cities such as Bengaluru and Hyderabad continue to drive growth, with both cities recording 5% quarterly increases in Q1 2025. Bengaluru’s average prices rose to Rs 7,881 per sqft, while Hyderabad touched Rs 7,412 per sqft. In contrast, key mature markets such as Delhi NCR, MMR (Mumbai Metropolitan Region), Pune and Chennai recorded no quarterly change in average prices following an already flat previous quarter, suggesting a plateauing of prices.

Other markets like Ahmedabad and Kolkata also saw moderate increases of 3.8% and 4% respectively in Q1 2025, reinforcing the trend of steady—though decelerating—growth.

“The moderation in price growth observed over the past few quarters indicates a stabilising market dynamic, likely encouraging the return of end-users previously displaced by speculative activity,” said Mr. Dhruv Agarwala, Group CEO, Housing.com & PropTiger.com. “This more measured trajectory is critical for sustaining end-user participation while maintaining the value built by investors and developers. In 2025, the market is expected to undergo further consolidation, reinforcing structural fundamentals and enabling steady, sustainable growth.”

 

Signs of equilibrium across major markets

The shift toward moderation became particularly evident from Q3 2024 onwards. Between Q4 2024 and Q1 2025, most cities either held steady or posted low single-digit gains. For example:

  • Ahmedabad rebounded from a dip in Q4 2024 to register a 4% QoQ growth.
  • Kolkata also recovered after a 4% decline last quarter, with a 4% rise.
  • Pune remained flat at INR 7,109/sqft, reflecting stability after strong gains in 2023.
  • Even in high-growth areas like Delhi NCR, which saw double-digit gains through much of 2023, Q1 2025 showed 0% quarterly growth, indicating a market that is pausing after a sharp upswing.

 

Macro drivers behind consolidation

The stabilisation phase can be attributed to multiple factors:

  • A more discerning buyer base dominated by end-users
  • Continued but rationalised investor interest
  • A supply pipeline adjusting to real demand rather than speculative pushes

 

Outlook

The report concludes that this cautious consolidation sets the stage for a more sustainable growth path. With prices plateauing in many cities and rising modestly in others, developers are likely to respond with more calibrated launches. This, in turn, will help maintain momentum while avoiding overheating in the sector.

 

Average Pricing (Rs/Sqft)

City

Q1 24

Q2 24

Q3 24

Q4 24

Q1 25

QoQ

6 months

Ahmedabad

4,150

4,680

4,736

4,402

4,568

4%

-4%

Bengaluru

6,919

6,911

7,512

7,536

7,881

5%

5%

Chennai

6,086

7,155

7,179

7,173

7,173

0%

0%

Delhi NCR

5,655

7,296

8,017

8,105

8,106

0%

1%

Hyderabad

6,753

6,725

7,050

7,053

7,412

5%

5%

Kolkata

5,045

5,384

5,844

5,633

5,839

4%

0%

MMR

10,500

12,226

12,590

12,600

12,600

0%

0%

Pune

6,000

6,528

6,953

7,108

7,109

0%

2%

Housing.com elevates buyer-seller interaction with ‘Housing Chat’

Approximately 10% of Housing.com users actively utilise the chat functionality. The new feature has increased monthly engagement sessions by 40x.

April 23rd, 2025: Housing.com, India’s #1 real estate app, has reinforced its commitment to enhancing consumer experience and simplifying the home buying journey with its advanced interactive technology solution named ‘Housing Chat’. Standing out as the only platform in the Indian PropTech space to enable direct buyer-seller conversations via chat, Housing.com has transformed consumer engagement in real estate. This seamless integration of chat-functionality has seen an exponential rise in adoption – from 20,000 users and 25,000 engagement sessions to over 400,000 users and more than 1 million engagement sessions per month within just a year.

In today’s fast-paced digital world, consumers seek quick, seamless, and disturbance-free engagement for every service they avail. Currently, a meaningful percentage of Housing.com users actively interact through ‘Housing Chat’ for quick engagement, making it a key touchpoint in their home-buying, selling, or renting process with conversations in real-time, fostering transparency and trust.

Simon Hope, chief product officer (CPO), at Housing.com commented “Buying or renting a home is a deeply personal journey. At Housing.com we understand that every user visiting our platform is unique and therefore, personalisation is at the heart of our experience. Our personalised chat is a key part of delivering on that promise.”

Abhishekh Makkar, chief technology officer, at Housing.com, emphasized the significance of these technological advancements, stating, “Our primary objective has always been to enhance the consumer journey, making property buying, selling, and renting seamless. By integrating chat capabilities, we have created an intuitive and responsive platform that caters to modern homebuyers’ expectations.”

Building on the success of the chat feature and the growing momentum of GenAI in the consumer space, Housing.com is continuously enhancing its platform to stay ahead of evolving user expectations.

With plans to enhance multilingual capabilities and further personalise user interactions, Housing.com remains committed to revolutionizing digital real estate solutions, ensuring a more transparent and user-friendly experience for home buyers, sellers, and renters across India.

Q1 home sales, launches drop amid price hikes and geopolitical concerns: PropTiger report

Against the backdrop of worsening geopolitical concerns that can deeply impact the domestic job market, sales fell in all key residential markets except Bangalore and Chennai.

April 16th, 2025: Home sales across India’s eight prime residential markets in the January-March period fell 19% over last year, as rising property prices and slowing growth forced buyers to exercise caution, says the latest report by digital real estate transaction & advisory platform PropTiger.com.

According to the Real Insight Residential: Q1 2025 report (January–March 2025) by PropTiger.com—part of REA India, which also owns Housing.com— new home supply also dropped 10% in the first quarter of the calendar year, as developers adjusted expectations amid a dramatic price appreciation of the past couple of years, which made housing unaffordable for a large section of buyers in the world’s most populous country.

“The huge spike in prices had already started to show its adverse impact on sales. With a global trade war now bringing new uncertainty, it is only natural for buyers to adopt a cautious approach to investment, particularly in something so big as real estate,” said Mr. Dhruv Agarwala, group chief executive officer, Housing.com and PropTiger.com.

The sales decline could have been a lot sharper if not for the 25-basis-point rate cut announced by the Reserve Bank of India (RBI) in February, Mr. Agarwala added.

Most urban Indians rely on housing loans to make a house purchase. Repo rate is the benchmark that determines the interest they would pay on this credit. A downward change in this rate is a certain measure to boost buyer confidence.

 

Sales fall across cities barring Bengaluru, Chennai

According to the report, less than 100,000 residential units were sold in the January-March quarter, with most cities covered in the analysis showing a fall in numbers. While Bengaluru and Chennai bucked this trend, Hyderabad, MMR and Pune witnessed the sharpest sales drop.

Signs of a market correction were also visible through a dip in new supply, with five of the eight cities showing an annual decline in launches. Pune, Hyderabad and Ahmedabad registered the sharpest fall in numbers, the report showed.

Sales (Units)

City

Q1 25

Q4 24

Q1 24

QoQ

YoY

Ahmedabad

10,730

10,170

12,915

6%

-17%

Bengaluru

11,731

13,236

10,381

-11%

13%

Chennai

4,774

4,073

4,427

17%

8%

Delhi NCR

8,477

9,808

10,058

-14%

-16%

Hyderabad

10,647

13,179

14,298

-19%

-26%

Kolkata

3,803

3,715

3,857

2%

-1%

Mumbai

30,705

33,617

41,594

-9%

-26%

Pune

17,228

18,240

23,112

-6%

-25%

Grand Total

98,095

1,06,038

1,20,642

-7%

-19%

 

 

 

 

 

 

 

 

 

 

 

 

New Launches (UNITS)

City

Q1 25

Q4 24

Q1 24

QoQ

YoY

Ahmedabad

2,384

3,515

3,116

-32%

-23%

Bengaluru

18,183

15,157

10,000

20%

82%

Chennai

4,070

4,005

4,723

2%

-14%

Delhi NCR

7,952

10,048

6,872

-21%

16%

Hyderabad

10,156

9,066

15,095

12%

-33%

Kolkata

3,534

3,091

1,485

14%

138%

Mumbai

31,322

30,127

36,784

4%

-15%

Pune

15,543

13,652

24,945

14%

-38%

Grand Total

93,144

88,661

1,03,020

5%

-10%

 

NOTE: Housing markets covered in the report are Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, NCR (Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad), MMR (Mumbai, Navi Mumbai and Thane) and Pune.

REA India CEO Dhruv Agarwala to step down

Mr Agarwala led the successful acquisition of Housing.com and played a central role in the integration of this platform.

April 3, 2025: REA Group today announced that Dhruv Agarwala has decided to step down as CEO REA India after 14 years with the business. REA India is the owner of Housing.com – India’s No. 1 Real Estate App and PropTiger.com – digital real estate transaction and advisory platform. Mr Agarwala co-founded PropTiger in 2011 before REA Group acquired a controlling interest in 2020, following its initial investment in 2017.

Mr Agarwala led the successful acquisition of Housing.com and played a central role in the integration of this platform. Under his leadership, Housing.com has grown into a leader in digital property, used by millions of home seekers across the country.

Mr Agarwala will remain with the business to support the appointment of his successor and ensure a smooth leadership transition before departing.  A comprehensive process to appoint a new CEO is underway.

REA Group CEO Owen Wilson paid tribute to Mr Agarwala and said his leadership has been a key driver of REA India’s growth.

“Dhruv is an exceptional entrepreneur and has harnessed the rapid expansion of digital real estate in India to build a high growth business. He has created a culture of innovation and developed a talented team who have delivered a market-leading audience and significant revenue growth in a highly competitive market. He leaves behind a considerable legacy that will have a lasting impact.

“I am grateful for Dhruv’s leadership and friendship over the past eight years and while he will remain with the business for now, on behalf of REA Group, I would like to sincerely thank Dhruv for his leadership and contribution. REA India is in an extremely strong position with an experienced management team and a strategic focus on app-prime property experiences that underscores an exciting future.”

Mr Agarwala commented, “It has been a privilege leading REA India and I’m incredibly proud of everything we have achieved together. From founding PropTiger in 2011 to growing Housing.com into India’s foremost digital real estate platform, it has been an amazing journey.  Now feels like the right time for me to step away and create space for new leadership to take the company forward. REA India is in great shape – with a clear strategy, a strong team, and a powerful brand that’s changing the way people experience property in India. I look forward to watching the company continue to grow and thrive from the sidelines.

“I want to thank the passionate and talented team at REA India for their passion and commitment and belief in the vision. We’ve accomplished great success together but there’s more to be done and I know they will continue to deliver on our exciting strategy. I also want to express my sincere gratitude to Owen Wilson, REA Group and News Corp for their support over the years and for sharing my vision and ambition for the real estate ecosystem in India.”

REA India appoints Amit Chand as Chief Financial Officer

Amit will oversee key functions including finance, risk assurance, legal and compliance, and procurement.
 

March 24th 2025: REA India, the parent company of Housing.com—India’s No. 1 real estate app—and PropTiger.com, a leading digital real estate transaction and advisory platform, has announced the appointment of Amit Chand as its Chief Financial Officer (CFO). Based in the company’s Gurgaon office, Amit will join REA India’s Executive Leadership Team and oversee key functions including finance, risk assurance, legal and compliance, and procurement.

Amit brings over two decades of experience in financial strategy, risk management, and business expansion. At REA India, he will focus on strengthening financial operations, enhancing capital efficiency, and supporting the company’s continued growth and innovation in the digital real estate ecosystem.

Previously, Amit served as CFO at TCNS Clothing, where he led Finance, Accounts, Treasury, Enterprise Risk Management, and ESG initiatives. He played a pivotal role in driving revenue growth, improving EBITDA, and steering the company’s acquisition by Aditya Birla Fashion & Retail Ltd.—one of the most significant transactions in the sector.

Commenting on the appointment, Dhruv Agarwala, Group CEO, Housing.com & PropTiger.com, said, “We are excited to welcome Amit to the REA India leadership team. His proven financial acumen and track record of scaling businesses will be valuable as we continue to build on our strong momentum and create greater value for customers and stakeholders alike.”

Amit Chand, Group CFO, Housing.com & PropTiger.com, added, “I’m thrilled to join REA India at such a dynamic time for the digital real estate sector. Housing.com and PropTiger.com are reshaping how Indians engage with property, and I look forward to driving financial excellence, scaling operations, and helping unlock the next wave of growth.”

Before his time at TCNS, Amit was in the CFO role at a technology-driven startup backed by Elevation Capital, where he was responsible for fundraising, investor relations, M&A, and monetization strategy. His diverse background across consumer and tech sectors positions him well to contribute to REA India’s next phase of growth.

Chennai real estate sees 16% price surge amid sales, launches improving in 2024: PropTiger report

The average cost of property in this southern housing market has risen significantly in the past half-a-decade, so much so that real estate here is slightly more expensive than Hyderabad, data show.

March 6th, 2025: Key performance indicators show Chennai’s housing market is poised to touch greater heights in 2025 after having achieved all-round growth last year.

According to a recent report by PropTiger.com, a leading digital real estate transaction and advisory platform, property prices in the Tamil Nadu capital increased 16% in the past one year as demand for quality housing picked up. This surge in average pricing reflects rising input costs, including land, construction materials and labour as well as sustained demand in key micro-markets.

Average cost of property in this southern housing market has risen significantly in the past half-a-decade, making real estate in Chennai slightly more expensive than Hyderabad. Average cost of property in Chennai stood at Rs 7,173 per square foot (psf) at the end of 2024. In Hyderabad, a buyer has to pay an average cost of Rs 7,000 psf, data available with the Gurgaon headquartered company show.

According to the report titled ‘Real Insight: Residential Annual Round-up 2024′, home sales in Chennai, a city that has emerged as the epicentre of India’s booming senior living housing sector, increased 8% in 2024 when compared to 2023 even as new supply rose 11% in the same period. Mid-segment continues to drive demand in this housing market, with properties worth up to INR 75 lakh claiming 52% share in overall demand in 2024.  On the other hand, 2BHK homes are the preferred configuration among homebuyers, the report adds.

“Unlike most cities covered in our analysis, growth in Chennai might have been somewhat more modest in the past, but the city has surely come a long way in the past five years. For instance, the fact that the Chennai Metropolitan Development Authority is planning infrastructure development along the 62-km Outer Ring Road to support an anticipated 80% population increase in the corridor is indicative how buyer perception is gradually changing for this housing market,” says Dhruv Agarwala, Group CEO, Housing.com & PropTiger.com.

Growth-promoting government policies and infrastructure upgrades have stoked consumer confidence prompting Grade-A developers to launch new projects here. All in all, the city is poised for better growth in 2025 as buyer preference changes in favour of cities with better liveability, Agarwala adds.

 

REA India appoints technology veteran Abhishek Makkar as CTO

Makkar brings over 19 years of extensive experience in technology leadership having driven innovation at several global technology companies.

February 19th 2025: India’s leading PropTech company, REA India that owns Housing.com – India’s No. 1 Real Estate App and PropTiger.com – digital real estate transaction & advisory platform, today announced the appointment of Abhishek Makkar as Chief Technology Officer. Based in the company’s Gurgaon office, he will lead the Engineering and Data Science Teams and join the REA India Executive Leadership Team, reporting directly to Dhruv Agarwala, CEO. 

Makkar brings over 19 years of extensive experience in technology leadership having driven innovation at several global technology companies. In his most recent role at Expedia India, he spent seven years spearheading core eCommerce technology initiatives. Previously at Amazon, he led global engineering teams focused on retail experiences and alternate delivery.

Dhruv Agarwala, Group CEO, Housing.com & PropTiger.com stated, “We welcome Abhishek to our leadership team. His proven track record in scaling technology operations and driving innovation aligns perfectly with our vision for the future. As we continue to transform the home buying, selling & renting journey through technology innovations, Abhishek’s expertise will be instrumental in advancing our platform capabilities and extending our technology leadership.”

Abhishek Makkar, Group CTO, Housing.com & PropTiger.com, said, “It’s a privilege to join at this exciting juncture of the group’s growth journey. The real estate industry is ripe for technological transformation, and both Housing.com & PropTiger.com are uniquely positioned to lead this change. I look forward to working with the talented REA India team to build innovative solutions that will reshape how people discover and access their dream homes. My experience in scaling technology and driving digital innovation aligns perfectly with the group’s mission to revolutionize the real estate sector.”

Makkar’s appointment marks a significant milestone in the group’s technological evolution and growth journey. His extensive experience in building scalable technology platforms, combined with his proven leadership in driving digital transformation at global companies, positions REA India to accelerate its innovation agenda and enhance its market leadership in the digital real estate space.

Sharp rise in property prices across prime residential markets in 2024: PropTiger Report

According to the report, the NCR housing market saw the steepest surge in property values, with rates jumping 49% YoY.

January 29th 2025: Average property values in India’s national capital region showed a whopping 49% appreciation in the past one year as demand for luxury homes continued to sustain. This comes amid an escalation in the cost of building materials and labour, a new report by digital real estate transaction and advisory platform PropTiger.com shows.

According to the report, titled Real Insight: Residential Annual Round-up 2024 by PropTiger.com, property prices increased across cities during the October-December period of 2024, albeit in varying degrees. While price growth slowed in the southern housing market of Hyderabad after nearly a decade of sharp rise, all other cities covered in the analysis showed double-digit annual appreciation.

 

Price Trends

City

Q4 23

Q4 24

YoY

Ahmedabad

4,000

4,402

10%

Bengaluru

6,744

7,536

12%

Chennai

6,200

7,173

16%

Delhi NCR

5,445

8,105

49%

Hyderabad

6,842

7,053

3%

Kolkata

5,100

5,633

10%

MMR

10,712

12,600

18%

Pune

6,140

7,108

16%

Source: Real Insight Residential – Annual Round-up 2024, Housing Research

Cities covered in the analysis are Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR (Gurugram, Noida, Greater Noida, Ghaziabad & Faridabad), Mumbai Metropolitan Region (Mumbai, Navi Mumbai & Thane) and Pune.

“High-net-worth Individuals deploying money in Delhi-NCR — this region is home to over 10 recently-listed start-ups — has kept the growth momentum going for this coveted residential market as developers prioritise premium offerings to affordable homes. This is the single biggest reason why home sales in key contributors like Gurugram (144% increase YoY), Greater Noida (54% increase YoY) and Noida (3% increase YoY) showed annual rise in sales even though pan-India numbers showed 26% year-on-year dip,” the company said in a statement.  

Property prices in India’s financial capital Mumbai rose by an average 18% YoY because of similar factors, the report said. Home to India’s biggest business stalwarts, Bollywood stars and sports celebrities, Mumbai is the most unaffordable housing market in the world’s most populous country, it added.

“No doubt, this kind of price growth is indicative of underlying demand, growth prospects and a positive buyer sentiment.  However, cost pressure might further affordability concerns in a country where a large part of the population relies on government subsidies for house purchases. Amid hardening inflation and slowing growth, the government must launch policy measures that take care of this crucial aspect to promote affordable housing. Positive tweaks in taxation laws in the upcoming Budget and rate cuts by the RBI could go a long way in ensuring greater affordability for India’s burgeoning Middle Class,” said Dhruv Agarwala, Group CEO, Housing.com & Proptiger.com. 

NOTE: Housing markets covered in the report includes Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Delhi-NCR (Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad), MMR (Mumbai, Navi Mumbai & Thane) and Pune.

Housing.com redefines real estate visualisation with next-gen 3D, AR and VR innovations

The company is first to innovate and still building on its legacy of transforming real estate visualisation since its inception.

January 22nd, 2025: India’s No. 1 real estate app, Housing.com, introduced 3D, augmented reality (AR) and virtual reality (VR) tools a decade ago, revolutionising the home-buying experience. Building on this foundation, the platform has now launched a next-generation suite of these technologies, providing home seekers with an even more immersive and automated property exploration experience. This development reinforces Housing.com’s leadership in the proptech space and its commitment to innovation in real estate.

Adding to the immersive experience are two major AR and VR innovations: DigiAR and Digitour. DigiAR, an augmented reality solution, enables buyers to view full 3D prototypes of property designs as envisioned by developers. Accessible through WebAR, DigiAR allows users to visualise digital property replicas over real land plots, bringing a highly interactive and lifelike dimension to the search experience. Complementing this, Digitour in VR provides a fully immersive virtual “walk-through” of properties using pose tracking and near-eye 3D displays, allowing buyers to evaluate properties in detail without needing to be physically present. This VR solution is particularly advantageous for remote buyers who want to explore a property in depth before making any decisions.

Expanding on the innovative capabilities of Housing.com’s nextgen 3D product suite, the new tools set a benchmark in immersive real estate experiences. The suite features DigiPlot, offering a comprehensive 3D view of land plots, distinguishing sold and available spaces while showcasing proximity to key landmarks. Digislate empowers agents with real-time project insights, fostering trust by presenting up-to-date visuals and details during client meetings.

Digiport and Droneview take visualisation to the next level with interactive masterplan tours and aerial perspectives, providing a complete sense of layout and connectivity. Rounding out the suite, Floorplan 3D, powered by AI and ChatGPT, transforms 2D blueprints into detailed, interactive 3D models, letting buyers experience their future homes in detail. This suite ensures users make confident, well-informed property decisions with ease.

These next-generation technologies aim to deliver a superlative consumer experience with an interactive and engaging journey that not only enhances understanding of individual properties but also brings the surrounding localities to life. This suite of innovations is designed to enable informed decision-making, reduce time and costs, and ultimately provide a richer, more accessible experience.

Through advanced algorithms, these tools cut down manual intervention, significantly lowering costs by over 70% and speeding up the turnaround time for floor plan creation. Buyers can now intuitively grasp spatial layouts and design elements, enhancing their comprehension of the property—all from their digital devices.

“These visualization initiatives are about creating meaningful experiences and adding value for our users,” shared Sangeet Aggarwal, Head of Product at housing.com, “By providing immersive, interactive tools, we’re allowing consumers to experience properties in a way that feels almost tangible, bridging the gap between virtual exploration and real-life decision-making. At Housing.com, we are committed to harnessing machine learning (ML) and artificial intelligence (AI) to enhance both our operations and the user experience. By constantly exploring innovative implementations of these technologies, we are not only improving efficiency but also gaining a competitive advantage in the market.”

Through these latest advancements, housing.com reiterates its dedication to pioneering proptech solutions that simplify the home-buying journey and offer memorable, immersive experiences.