Google Capital invests in Real Estate Portal

Buoyed by the real estate growth in India, Google Capital has invested in online real estate platform CommonFloor.com, a statement said Thursday.

“CommonFloor.com makes it easy for people in India to research, buy, sell and rent real estate. The online real estate market in India is poised for tremendous growth, which is why we’re excited to work closely with CommonFloor’s excellent team in the months and years ahead,” said David Lawee, partner at Google Capital.

This is Google Capital’s third investment in Asia. The statement issued by CommonFloor.com did not disclose the size of the investment.

“We look forward to drawing on the technical and operational expertise of Google Capital’s partners and advisers as we continue to scale our business,” said Sumit Jain, co-founder and chief executive officer at CommonFloor.com.

“This will further fuel our vision to empower people to realise their property dreams. We continue to exhibit industry leading growth; the money raised will be strategically invested in making the platform more robust to enable the buyers and sellers to find their match faster,” he said.

The investment comes at a time when the Indian government aims to provide housing for all by 2022. CommonFloor.com has more than a lakh residential projects listed on their platform from over 200 cities. The online platform – which has a team of 1,000-plus employees – said it was committed to map every property in India. (IANS)