PropStory now targets Southern India

Gurgaon based real-estate information portal PropStory which, deals in providing information around upcoming and developing real estate projects today announces its expansion in Bangalore. Owing to the ‘growth spurt’ in the online information consumption pattern of property investors, this startup is all set to tap into the real estate market of the city. Bangalore’s real estate sector is riddled with challenges, and there are numerous reports of project delays, and a lack of transparency. Identifying this as a concern area, PropStory that focuses on the real estate sector, especially residential, aims to ensure transparency in all forms of communication by providing the site area/report with detailed actual site information and real photographs, which include actual visits by architects to the project sites. Prior to entering Bangalore, Propstory surveyed its real estate market and came to realize that the apartments developed by big builders are priced at least 35%-50% more than the expected price of homebuyers. This disparity is a strong indicator of the largely ignored socio-economic reality of the people living in metropolises in India. Propstory will work towards helping builders to understand this gap and meet buyers demand accordingly.