PropEquity Files Lawsuit Against CRE Matrix for Alleged Data Theft, Delhi HC Issues Summons

Delhi-based real estate analytics firm PropEquity has filed a case against Mumbai-based CRE Matrix in the Delhi High Court, alleging data theft and infringement of its primary real estate data. PropEquity has sought a permanent injunction and damages of Rs 8 crore on account of the alleged data theft.

A single-judge bench of Justice Manmeet PS Arora of the Delhi High Court issued summons to Bhugol Analytics Private Limited (trading as CRE Matrix), its directors, and some employees, in an order dated July 24, released on Wednesday. The court granted time to the defendants to file their written statements and posted the matter for hearing on September 19.

PropEquity, operated by PE Analytics Limited, alleged glaring similarities and almost identical figures in the primary residential data segment reported by CRE Matrix in its “India Housing Report” published in May 2025. The firm also stated that CRE Matrix was not operating in the domain of primary residential data during 2021–24, the period for which the figures were released in its May 2025 report.

It added that CRE Matrix acted by unethically soliciting the plaintiff’s former employees, who had held important positions but resigned, violating non-compete clauses and joining the rival company. “They colluded with the defendant and compromised the proprietary primary residential data of the plaintiff,” PropEquity said in its plea before the Delhi High Court.

The firm added that it has also filed police complaints with the cyber crime branch in Gurugram, and the police have initiated an investigation. This move underscores the seriousness with which PropEquity is treating the alleged data theft and the potential impact it could have on the real estate analytics market.

The legal battle between these two firms highlights the growing importance of data protection and intellectual property rights in the real estate sector. As the real estate market continues to evolve, companies are increasingly relying on detailed and accurate data to make informed decisions. Any breach of this data can have significant financial and reputational consequences.

For PropEquity, the alleged data theft not only represents a loss of valuable information but also a threat to its competitive edge in the market. The company has invested heavily in gathering and analyzing primary residential data, and any unauthorized use of this data could undermine its business model. The legal action is a clear signal that PropEquity is committed to protecting its intellectual property and maintaining the integrity of its data.

On the other hand, CRE Matrix will need to mount a strong defense to counter these allegations. The company will have to provide evidence to show that the data it used was independently collected and that there was no collusion with former PropEquity employees. The outcome of this case could set a precedent for how similar disputes are handled in the future, particularly in the context of data protection and non-compete agreements in the real estate analytics industry.

As the case progresses, both companies and the broader real estate community will be closely watching the developments. The resolution of this legal dispute could have far-reaching implications for data security and business ethics in the real estate sector.