Now Reading: Magicbricks and RICS India sign MoU for data-driven real estate research
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Magicbricks and RICS India sign MoU for data-driven real estate research
Magicbricks and RICS India sign MoU for data-driven real estate research
Magicbricks and the Royal Institution of Chartered Surveyors (RICS) India on Wednesday signed a one-year non-commercial MoU to jointly produce real estate research, market studies and indices. Magicbricks will supply its structured…
Magicbricks and the Royal Institution of Chartered Surveyors (RICS) India on Wednesday signed a one-year non-commercial MoU to jointly produce real estate research, market studies and indices. Magicbricks will supply its structured property data and lead report writing, while RICS will review, validate and lend analytical expertise. Co-authored reports, white papers and indices will carry co-branding.
Data shared under the collaboration excludes sensitive personal information such as names and contact numbers, with raw data kept confidential. Intellectual property on joint outputs will be shared, but RICS retains rights to its underlying methodologies. The MoU is valid for one year and may be extended by mutual consent.
Indian Opinion Analysis
Indian Opinion Analysis: The partnership comes as India’s real estate sector pushes for more standardised data to support policy decisions and investment. Magicbricks competes with platforms such as Housing.com and 99acres, making its proprietary transaction data a valuable asset. RICS, a UK-based professional body, brings validation that can enhance credibility with institutional investors. The one-year term with renewal option leaves room to test demand for joint indices. Watch for a first report around a policy event such as the next RBI financial stability review, where housing data often features. A jointly produced price index would be the clearest signal the collaboration is delivering.
Source: timesnownews.com
This story was synthesised by AI from the source linked above.
