In September 2016, Housing.com struck a partnership with rival PropTiger in what industry commentators said could ultimately result in a merger.
BloombergQuint has recently reported that those involved in the deal are said to be a former Housing.com executive and an investor in Housing.com among other sources, which are as yet unnamed.
After considering various options with regard to the contours of the deal, the two companies are working on final documentation, said one of the persons quoted above who requested anonymity as the matter is private.
The stock and cash transaction will value Housing.com at just under $50 million, said the source.
The startup which was once valued at $235 million has suffered a major fall in its valuation over the last two years.