The online Indian real estate portal Housing.com has relaunched its rentals section to feature 60,000 listings, after suspending that part of the site for over a year.
Mani Rangarajan, chief business officer of the platform business unit at Housing.com, said putting rentals on hold was a strategic decision which allowed the business to focus on other components of its site.
"When we took the decision to put the rental business on hold (in 2015), we felt the need to get a strong hold on the buy and sell segments, especially when it came to sustainable revenues or monetisation," Rangarajan told ET. "The idea when we relaunch rent was to do something very different from what competitors in the market are doing and also use technology to help people find the right homes."
Housing.com was founded in 2012 by 12 students from the Indian Institute of Technology and experienced a state of flux after nine of the founders left and the CEO was replaced. At the beginning of 2017 Housing.com, merged with Delhi-based PropTiger and received an investment of $50 million from REA Group Limited, the online real estate company owned by NewsCorp.