The economic implications are staggering. Experts estimate that AI adoption could unlock approximately USD $1.1 trillion (JPY 148.7 trillion) in productive capacity in Japan alone. Similar trends are expected in Australia and Singapore, with projected economic benefits of USD $76 billion and USD $147.6 billion respectively by the end of the decade.

Beyond the Chatbot: The Six Faces of Real Estate AI

To understand this transformation, the industry is looking at AI through six distinct lenses. While “Generative Models” that create text and images get the most headlines, five other categories are doing the heavy lifting in the background:

• Natural Language Processing (NLP): Used to understand and interact with human language in legal documents.
• Machine Learning (ML): Systems that learn from massive datasets to improve performance over time.
• Computer Vision: Technology that “sees” and interprets visual information from the physical world.
• Predictive Analytics: Analyzing historical data to forecast future market trends.
• Expert Systems: Software designed to mimic the decision-making abilities of human experts in specific domains like law or engineering.

Crisis Management: 80% Faster Lease Administration

One of the most immediate impacts is seen in Lease Administration. Traditional methods involve manual data entry and audits, but AI is shifting the focus toward quality control. By using Optical Character Recognition (OCR) powered by AI, firms are reducing process cycle times by a remarkable 80%.

A real-world example highlighted in the report involved a major energy company that suffered a cyberattack, disabling all their systems. With rent payments stalled and no access to their internal databases, Colliers utilized AI to extract data from mobile phone screenshots of landlord reports. They achieved a 90% data capture rate from over 40 images, allowing them to notify 400 landlords about payment delays within hours—a feat that would have been impossible manually.

Portfolio Strategy and the “Digital Concierge”

The report details a shift from a “traditional” approach to an “anticipatory” one. In Portfolio Strategy, machine learning now analyzes office locations, headcounts, and expiration dates to find savings 80% faster than human consultants.

In the workplace, the future looks even more futuristic. We are moving toward AI-powered “office concierges” that automatically plan an employee’s day. These systems will track mobility patterns to predict space needs, reserve meeting rooms before you even ask, and suggest office activities to enhance the employee experience.

Solving the Diversity Gap with Location Intelligence

AI is also becoming a tool for social and corporate responsibility. One case study noted a company struggling to meet Diversity, Equity, and Inclusion (DEI) goals in its engineering departments. Using “Workforce Intelligence Platforms” and data scraping, the company discovered that the three cities where they were hiring most heavily were actually in the bottom 20% for diversity in those specific talent segments. By using AI to identify a “top DEI engineering market,” they were able to open a new office in a location with a high-quality, diverse, and lower-cost talent pool.

The Roadblocks: Data Privacy and the “Proprietary” Barrier

Despite the optimism, the transition isn’t without hurdles. Colliers identifies five areas that require immediate focus:

1. Transparency: Real estate data is often non-standardized and “closely guarded” as proprietary information.
2. Governance: Firms must create libraries that allow for safer, more effective data sharing.
3. Data Volume: While the industry has plenty of data, ensuring it is not “biased” or incomplete is vital for training accurate AI.
4. Security: Managing access and maintaining the integrity of vast datasets is a constant challenge.
5. Ethics: Tracking employee movement in the office through AI raises significant privacy questions that companies must navigate carefully.

A New Workforce: Meet the “AI-Enabled Property Manager”

As traditional roles evolve, new ones are emerging. The report predicts a rise in demand for “AI Ethicists,” “Security Engineers,” and “AI Trainer/Model Curators.” Rather than replacing humans, the goal is to “augment” existing roles, allowing real estate professionals to focus on high-level negotiation and creative strategy while the machines handle the data-heavy production.

The post The $1.1 Trillion Intelligence Surge: How AI is Rewriting the Rules of Real Estate appeared first on Square Feat India.

Technology-Led Mortgage Fulfilment

Urban Money operates a fully digital platform that integrates API-based KYC, credit score verification, and income validation with banks’ loan origination systems — enabling loan sanction and disbursal in under five minutes.

Its tech stack allows seamless interaction among borrowers, lenders, and advisors, reducing turnaround time and removing paperwork bottlenecks that have traditionally slowed down home loan approvals.

Massive Distribution Network Across India

The company works with over 1.5 lakh channel partners and 95+ banks and NBFCs, positioning itself as one of India’s largest mortgage distribution networks.
Nearly 87% of its business comes from an aggregation model that connects real estate agents, DSAs, and financial advisors with lending institutions.

Urban Money’s gross transaction value (GTV) has surged from $0.2 billion in FY21 to $5.7 billion in FY25, reflecting deep penetration and partner-led scalability.

Consistent Multi-Year Growth

Between FY22 and FY25, Urban Money’s revenue grew at a CAGR of 120%, while its GTV expanded at a CAGR of 102%, underscoring the platform’s strong operational efficiency and market traction in India’s fast-evolving digital mortgage ecosystem.

Bridging the Credit Access Gap

Commenting on the milestone, Amit Prakash Singh, Co-Founder and CBO of Urban Money, said:

“While India’s credit ecosystem has expanded rapidly, access and awareness remain uneven — nearly half of eligible urban adults still don’t use formal credit channels. For many first-time homebuyers, the loan journey remains complex and fragmented. Our aim has been to simplify this process through a transparent, technology-driven platform that connects borrowers, advisors, and lenders on one network.”

He added that the company’s growth demonstrates how digital origination models can bridge the trust and accessibility gap in India’s mortgage sector.

Supported by Square Yards Ecosystem

Backed by Square Yards’ real estate and data ecosystem, Urban Money continues to strengthen its position as a key enabler of digital mortgage access and formal credit inclusion in India.

Its platform now plays a pivotal role in simplifying the home loan journey, especially for first-time buyers seeking transparency and speed in mortgage approval.

Also Read: Tech Transformations in Indian Real Estate: PropTech Set for 9.6% Growth by 2025

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The report highlights the transformative potential of India’s real estate sector, with PropTech—technology-driven innovations in the real estate industry—expected to grow at a sustained pace. By 2047, PropTech is forecast to reach $600 billion, accounting for around 12-13% of the overall real estate market, a substantial increase from its current share of less than 5% of the $300 billion market.

Key technologies like Artificial Intelligence (AI), Internet of Things (IoT), and Building Information Modelling (BIM) are driving this growth by revolutionizing the real estate value chain. These innovations are enhancing operational efficiency, improving transparency, and fostering smarter urban planning, which aligns with India’s broader goal of achieving a $26 trillion GDP by 2047.

The real estate sector in India employs over 77 million people, or about 14-15% of the country’s workforce. As a critical pillar of the economy, it has the potential to play a central role in India’s rise as a developed nation. Infrastructure initiatives such as the National Infrastructure Pipeline (NIP) and PM Gati Shakti are expected to further boost the sector by unlocking opportunities across both metropolitan and emerging tier-II and tier-III cities like Indore, Surat, Jaipur, and Agra.

India’s young and growing population, along with a rapidly expanding middle class, will drive increased demand for housing and real estate investments. By 2047, India’s middle class is expected to surpass one billion, significantly boosting discretionary spending and housing demand.

CREDAI has called for several strategic reforms to support this growth, including granting “Industry Status” to the real estate sector. This would ease access to institutional financing and reduce borrowing costs for developers. The organization also recommends redefinition of affordable housing, raising the price threshold for affordable units from INR 45 lakh to INR 90 lakh, in response to rising costs of raw materials, inflation, and land prices, which have made current definitions financially unfeasible.

Furthermore, CREDAI advocates for flexible tax schemes to support developers, including offering the option to choose between different GST rates for residential and commercial projects. A new policy framework to streamline land acquisition and zoning, along with the development of satellite towns to reduce urban congestion, is also on the table.

Boman Irani, President of CREDAI, emphasized the sector’s pivotal role in India’s economic future: “Indian Real Estate finds itself at an extremely crucial and exciting junction—characterized by rapid urbanization, technological integration, and a strong focus on sustainability. We are firmly positioned to contribute to India’s robust economy as we march toward our mission of a ‘Viksit Bharat’ by 2047.”

Manoj Gaur, Chairman of CREDAI, highlighted the report’s findings as critical to India’s future growth: “By rethinking affordable housing parameters and focusing on planned satellite towns, we can address urban congestion, ensure balanced regional growth, and make housing more accessible to India’s growing middle class. Strategic policy interventions will unlock the full potential of the sector, helping India realize its aspirations as a developed economy.”

As India moves toward its goal of becoming a developed nation by 2047, the real estate sector is positioned to play a central role in shaping its future, driving economic growth, job creation, and urban development.

Also Read: CREDAI to Celebrate 25th Foundation Day in Delhi, Launch Groundbreaking Report on Real Estate’s Role in Viksit Bharat 2047

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NAREDCO Maharashtra NextGen has partnered with Brigade Real Estate Accelerator Program (REAP) to strengthen PROPEL, a groundbreaking initiative designed to support emerging entrepreneurs in India’s real estate sector. The collaboration brings together NAREDCO’s expansive industry network and Brigade REAP’s expertise in scaling PropTech startups, creating a robust platform for innovation and growth in the real estate industry.

The partnership is set to be showcased at Excelerate 3.0, a premier event focused on advancing technology and innovation in real estate, scheduled for November 14, 2024, at Hotel Sahara Star, Mumbai.

Brigade REAP, one of India’s leading PropTech accelerators, has incubated a total of 76 startups, the highest in the country. Its Earth Fund, a ₹200 crore PropTech venture fund, further strengthens India’s largest ecosystem for PropTech innovation. With this partnership, PROPEL aims to empower the next generation of entrepreneurs with critical resources, including mentorship, funding, and strategic guidance.

Mr. Prashant Sharma, President of NAREDCO Maharashtra, highlighted the importance of this initiative in the evolving real estate landscape, stating, “India’s real estate sector stands at a pivotal moment, and the demand for innovation has never been higher. By partnering with Brigade REAP, we are ensuring that emerging entrepreneurs have access to not only the capital they need but also the strategic support to succeed in this fast-paced industry.”

Mr. Rajan Bandelkar, Vice Chairman of NAREDCO, further emphasized the role of PROPEL in shaping the future of urban development. “PROPEL is designed to create an ecosystem that fosters creativity, sustainability, and cutting-edge solutions to address the challenges posed by urbanization. With Brigade REAP’s support, we are offering both financial and strategic backing to startups, helping them tackle the evolving needs of the real estate market.”

Mr. Ridham Gada, President of NAREDCO NextGen Maharashtra, added, “We are thrilled to strengthen PROPEL through this collaboration with Brigade REAP. Their leadership in fostering PropTech innovation in India aligns perfectly with our shared vision of accelerating disruptive technologies in real estate.”

At Excelerate 3.0, PROPEL will be a central focus, with participants having the opportunity to pitch their ideas, gain exposure, and secure funding from a network of investors, including those associated with Brigade REAP. The event will also feature discussions on key topics such as smart cities, sustainability, and the application of artificial intelligence in real estate.

Through this partnership, PROPEL aims to provide startups with invaluable mentorship from industry leaders, access to funding, and opportunities to network with investors, developers, and other key stakeholders. Brigade REAP will also offer market insights, investment opportunities, and the expertise of seasoned PropTech mentors to help startups scale quickly and successfully.

This initiative by NAREDCO Maharashtra NextGen and Brigade REAP underscores a commitment to fostering innovation and positioning India as a global leader in real estate technology and sustainable urban development. As the country’s PropTech ecosystem continues to expand, PROPEL is poised to play a crucial role in driving the next wave of innovation in the real estate sector.

Also Read: NAREDCO Maharashtra NextGen Unveils Excelerate 3.0: A Vision for Innovation in Construction

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·         Currently, Hyderabadhas the maximum unsold stock of approximately 1,05,240units, followed by Thane with approximately 1,04,959units.

Unsold housing stocks in Tier 1 cities in India dropped to 5,08,464 units in Q3 2023 from 5,26,497 units in Q3 2022, representing an 11% decrease. PropEquity research data shows that in Hyderabad, there is a significant 6 percent increase in unsold stock in Q3 2023 among the top seven cities in the country.In Delhi-NCR region unsold stock dropped by 7 percent in the third quarter of 2023 as compared to Q2 2023, while residential property sales continued the upward momentum gained after the pandemic.

On the other hand, New launches increased by 2% in tier one cities to 97,871 units in July to September 2023 from 96,408 units in the previous year. While this quarter saw a decline in new launches of 11% on Q-o-Q basis, due to lower demand due to rise in property prices as well as mortgage rates. Indian developers are strategically prioritizing the reduction of older unsold inventory, resulting in a decline in unsold stocks, while also launching fewer new projects.

“Housing prices have been climbing in major Indian cities in the post-COVID years. While this upward trend in capital values is attracting investors to India’s key real estate markets, there is reduction in unsold housing stock. However, due to appreciation in both prices and mortgage rates, housing demand is currently facing challenges. Going forward, if interest rates on home loans remain stable or even soften in the coming months, we anticipate an increase in housing demand.” stated Mr. Samir Jasuja, Founder & CEO of PropEquity.

“The real estate market across the country has witnessed a price appreciation; the consumer sentiment has continued to stay robust as the pandemic reshaped the importance of owning a home rather than renting one. Despite increasing interest rates and marginal property prices, there is still parity between the prices and affordability; sales volumes are likely to stay strong. Although global headwinds are there, India has navigated the scenario well so far, and it will be able to limit the impact of recessionary pressures going forward as well. Also, with the coming festive period, we can expect sales to be northbound.” Said Ankush kaul, chief business officer at ambience group.

The Bull Run in real estate, initiated in 2022, persists into 2023. Analysis of the first three quarters reveals that new property launches in Tier 1 cities remain consistent with 2022 levels. The standout, however, is an unprecedented surge in demand, poised to hit 5 lakhs—a decade-high. With an 8% rise in absorption compared to last year, the market’s resilience is evident. Pune, Hyderabad, and Thane, including Kalyan, Bhiwandi, Panvel, and Vasai, have emerged as leaders in new launches and absorption over the past two years. The real estate landscape continues to evolve, promising ongoing opportunities for developers and buyers alike in the months ahead.

As we approach the festive season in the next quarter, the real estate market is poised for a surge in new property launches. Notably, 2022 and 2023 have emerged as historic milestones for real estate in Tier 1 cities across India. This remarkable success can be attributed to the unwavering trust that investors and end-users have placed in tangible assets, particularly in the wake of the post-COVID era. Additionally, the regulatory reforms introduced in 2017 have played a pivotal role in instilling confidence among investors and buyers, thereby contributing to the current all-time high levels of supply and absorption. These numbers serve as a testament to the renewed faith in the real estate sector, reflecting a robust and resilient market.

Real Estate Trends of Tier- 1 cities:

Hyderabad: Hyderabad the city of Nizams witnessed 46 percent rise in new launches on Q-o-Q basis, 5percent in total absorption and 6 percent decline in unsold stock.

Thane: Thane saw 2 percent drop in new launches,2 percent in total absorption and 14 percent decline in unsold stock.

Pune:  Total Absorption in Pune increased by 3 percent. Whereas, there is a 12 percent drop in unsold stock on Q-o-Q basis.

Mumbai: New Launches and total absorption of Maya Nagri (Mumbai) witnessed a decline of 24 and 19 percent respectively in third quarter of 2023. On the other hand, unsold stock also decreased by 14 percent.

Bengaluru: Bengaluru saw a 24 percent increase in new launches and 13% in total absorptionon Q-o-Q basis.

Delhi NCR: Delhi NCR witnessed a surge in supply of new residential units, 5,450 launches by various developers in Q3 2023, marking a 9 percent year-on-year growth.

Navi Mumbai: There is rise of 77 percent in new launches, 5 percent rise in total absorption on Q-o-Q basis and 3 percent decline in unsold stock.

Chennai: Chennai witnessed a 19 percent drop of new launches and 3 percent drop in unsold stock.

Kolkata: Kolkata witnessed a downfall of 45 percent in new launches and 13 percent increase in total absorption.

Also Read: Unsold Stock of Homes Priced >INR 2.5 Cr Sees 24% Yearly Dip in MMR

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Many people still think that the real estate industry is relatively a conventional sector as compared to the other industries in the world. But that’s not completely true as the realty sector has also been transforming and adopting modern approach in the business.

With the rapid innovation, the realty players have also shifted their focus towards the latest market trends like the arrival of the concepts of Artificial intelligence (AI), virtual reality (VR), augmented reality (AR), and other tech-based approaches. This is the reason why, the proptech startups are gradually catching the eyes of people.

Take a look at some of the emerging proptech trends in the world that will really dominate the realty business in future.

1. Virtual home tours

Virtual Reality (VR) is not a new phenomenon in the tech world, considering its solid presence in the sectors like gaming, retail, defense etc. However, one can say that it is a recent entry in the industry of Real Estate. Ever since the world has been hit by the COVID-19 pandemic, the demand for virtual home tours has increased. In the post-covid era, many realty agents across the world are relying on virtual tours to show the properties, maintaining the protocols of social distancing.
Moreover, 3D videos of the property also provide the buyers a sense of belongingness. With the help of these videos, the buyers can check even the smallest details regarding the property meticulously. Hence, there is nothing wrong in saying that virtual home tours will become an important aspect for the tech-savvy buyers in the ‘new normal’ world.

2. E-signing agreements

As we have mentioned above, the COVID-19 pandemic has enforced every sector across the world to transform its structure digitally. Having said that, e-signing agreements have also become a mainstream norm in the real estate industry. After all, modern problems demand modern solutions.

With the increasing usage of online platforms for reducing the paperwork, the global digital signature market, which valued $1,534.8 million in 2019, is now expected to reach around $23,949.7 million by 2030.

3. Realty sector tapping into proprietary advertising solutions

When it comes to the advertising factor in real estate industry, it can be difficult to determine whether your campaigns are hitting the mark or not. In some cases, you might also find yourself wondering what’s should be a good conversion rate for a real estate advertisement? But when you deep dive-in and analyse all the marketing statistics, you will then understand the criteria of getting better leads.

Many local agents are using emerging digital advertising platforms to generate local listings and to build their presence in the market.

4. Fractional real estate investment

In the Commercial Real Estate, the mode of ownership has evolved dramatically over the past few years. Instead of bearing the entire expense of the luxurious property, the millennials are looking to share passive ownership of that unit. This trend has just gone beyond the stock and crypto markets. Hence, one can say that the fractional investment is the next big thing in the real estate industry.

5. Smart homes

Transforming the old or conventional residential properties into smart homes is the new way to grab the attention of potential buyers in the modern era. In fact, according to a latest study, 62% of the millennials give preference to the properties equipped with all the smart technologies.

Moreover, home automation is no longer about the extensive components or messy wires. You can turn your house into a smart home with a few digital devices including a voice assistant, smart security system, automated lighting etc.

6. Growing number of ibuyers

Technology has changed the way we do business and real estate is no exception. Eliminating the old and hectic process of buying and selling the properties, you can now take the ibuyer approach.

Ibuyer is basically a company that uses computer-generated statistics of market data, information supplied by sellers, and in some cases, inputs from the local agents, to give you instant cash on residential properties.

The growing numbers of ibssuyer companies in the market has proven that the people are now heading towards the technology-driven era in all sorts of spheres across the world.

Also Read: Integrow Launches its Real Estate Focused Portfolio Management Service (PMS)

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Commenting on the upcoming event, Sandeep Runwal, President of NAREDCO-Maharashtra and Managing Director of Runwal Group, expressed his enthusiasm, stating, “The Second Edition of the NAREDCO Maharashtra Real Estate Forum 2023 promises to be an insightful and influential gathering that will shape the future of Maharashtra’s real estate sector. With a lineup of esteemed dignitaries and industry experts, the event is set to foster growth, innovation, and collaboration in this dynamic field.”

‘I look forward to seeing you all at the Second Edition of the NAREDCO Maharashtra Real Estate Forum. Together, we can build a stronger, more resilient, and prosperous real estate sector for Maharashtra and the entire nation,” Runwal further added.

This real estate forum will discuss various issues such as government policies, private equity funding, real estate financing, navigating commercial and retail growth, future of redevelopment among others.

The Real Estate Forum, an annual gathering unites the titans of the real estate sector on a common platform. The previous edition of the NAREDCO Maharashtra Real Estate Forum, held last year, achieved remarkable success, drawing over 600 professionals from the real estate and allied industries. It marked a turning point as it was the first major industry gathering post the COVID-19 pandemic. Eminent figures, including government ministers, financial veterans, and real estate luminaries, showed unwavering support for the sector’s development and the state’s progress.

Distinguished senior government leaders will grace the occasion with their presence, sharing insights into the state’s real estate development. Among them will be Smt. Valsa Nair, Additional Chief Secretary, Housing; Shri. Sanjay Mukherjee, Metropolitan Commissioner, MMRDA and Shri. Praveen Darade, Principal Secretary, Environment.

The annual conference will also feature prominent figures from the financial sector, including Vipul Roongta, MD & CEO of HDFC Capital; Rajiv Sabharwal, MD & CEO of Tata Capital; Vishal Kampani, non-executive Vice Chairman of JM Financial Ltd; and Ashish Mohta, Sr. Managing Director at Blackstone, who will share their valuable perspectives on the sector’s outlook.

Notably, the event will witness the participation of senior stalwarts from the real estate industry, including Niranjan Hiranandani of Hiranandani Group, Irfan Razack of Prestige Group, Atul Ruia of Phoenix Mills Group, Rajan Bandelkar of Raunak Group, Atul Choradia of Panchshil Realty, Abhay Chandak of Chandak Group and many more.

As a cherished tradition, the evening session will feature His Grace Shri Gaur Gopal Das, who will impart valuable life lessons.

Also Read: Shapoorji Pallonji Real Estate signs Shahid and Mira Kapoor to endorse its VANAHA project in Pune

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ANAROCK, India’s largest and leading residential real estate services group, has announced that ASTRA, the Firm’s proprietary AI-driven sales acceleration tool, has officially received patent status. This secures the Firm’s exclusive rights to ASTRA and the algorithms and functions that have made it the definitive artificial intelligence tool for real estate developers to speed up their project sales results.

Sunil Mishra, Chief Strategy Officer, ANAROCK Group, says, “ASTRA was created over a two-year period by ANAROCK and its data analytics partner G-Square Solutions. The ASTRA algorithm examines customer behaviour data to produce highly accurate leads, increasing marketing effectiveness while significantly reducing marketing expenses. This pioneering SalesTech solution is now aptly registered with the Controller of Patents and a patent has been granted for innovative practices and processes under the category of a ‘System for Artificial Intelligence-driven Productivity Enhancement for Sales Management.’

With this, ANAROCK is now the first and only real estate services firm to obtain a patent for a disruptive Proptech tool built using Artificial Intelligence for increasing Sales.

Since its introduction in July 2021, ASTRA has transformed the way properties are sold in over 200 projects across 21 cities. It radically streamlines processes, maximizes efficiency in sales conversion, and entirely eliminates leads leakage. Built on consumer behaviour data from over 5 million leads from ANAROCK’s own database, ASTRA implements 74 varying models to make it a custom fit for real estate projects of various sizes and stages of completion, and at any location.

According to the 2022 report Proptech – Modelling the Future of the Indian Real Estate Sector, sales automation and sales enablement – broadly defined as SalesTech – are now a necessity for organisations’ sales strategy – especially if sellers want to maintain a competitive advantage in their respective industries. It is an efficient way to optimise the prospecting process and ensure that a company has more time to focus on nurturing leads, supporting current clients, and personalising customer experiences.

About ANAROCK

ANAROCK is India’s leading independent real estate services company with a presence across India and the Middle East. The Chairman, Anuj Puri, is a highly respected industry veteran and India’s most prominent real estate thought leader.

The Company has diversified interests across the real estate lifecycle and deploys its proprietary technology platform to accelerate marketing and sales. ANAROCK’s services include Residential Broking & Technology, Retail (in partnership with Vindico), Commercial, Investment Banking, Hospitality (via HVS ANAROCK), Land Services, Industrial and Logistics (in partnership with Binswanger), Investment Management, Research, Strategic Advisory & Valuations, Project Management Services (in partnership with Mace) and Society Management Services (acquisition of ApnaComplex).

The Company has a unique business model, which is an amalgamation of traditional product sales supported by a modern technology platform with automated analytical and reporting tools. This offers timely solutions to its clients, while delivering financially favourable and efficient results.

ANAROCK has a team of over 1800 certified and experienced real estate professionals who operate across all major Indian (Mumbai, Navi Mumbai, Pune, Ahmedabad, NCR – Delhi, Gurugram, Noida, Chennai, Bangalore, Hyderabad, Kolkata, Lucknow) and Middle East markets. ANAROCK has successfully completed over 400 exclusive residential project mandates. ANAROCK also manages over 80,000 established channel partners to ensure global business coverage. Our assurance of consistent ethical dealing with clients and partners reflects IN our motto – Values Over Value.

Also Read: ANAROCK Acquires Flexible Workspaces Platform myHQ

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The round also saw participation from existing investors Gruhas Proptech and the DLF Family Office.

Founded by Shubhankar Dongre, Sandeep Reddy & Raja Seetharaman in 2020, Zapkey is a home sale guarantee platform that claims to provide its customers with guaranteed home sales within three months of the listing date. Their pricing is driven by proprietary algorithms which track 1 crore+ property registration records, thereby claiming to ensure a fair market price and transparency in sales. Over the past year in its first market, Zapkey has attracted over 8000 home sellers to its platform and engages 2500+ local brokers as part of its distribution network.

Zapkey also introduced a first-of-its-kind Home Buyer value proposition last year. Armed with the best resale homes on the market, it began offering ready-to-move-in homes with no GST, pre-verified ownership documents, instant site visits, pre-negotiated home prices, 3-month seepage warranty, and even a 30-day buyback guarantee should a home buyer run into any pre-defined issues with a home bought through Zapkey.

The fresh funding will be utlised to fuel geographical expansion and strengthening the tech.

“We couldn’t be more excited to have DSP join our cap table. Easily one of the most powerful names in Indian finance, their access, and support is only going to help compound our growth as we open new markets”, said Shubhankar.

“The pedigree of the founders of Zapkey gave us maximum confidence to invest. Add to that the size of the total addressable market and the product market fit that they’ve achieved over the past year checked all our boxes”, added Shuchi Kothari of DSP.

Also Read: Carmichael Road Bungalow sold for ₹220 Crore

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By Prashant Thakur, Sr. Director & Head – Research, ANAROCK Group

For far too long, the real estate sector had stubbornly held on to age-old conventional models and practices of planning, management, construction, project execution, and sales. This may be due to the underlying risk considering the high asset value and the large quantum of investments required to explore new methods.

In India as well as globally, the sector was a chronic laggard in technology adoption – until 2020.

The global Covid-19 pandemic outbreak catalysed massive technological intervention across sectors and industries. While banking, insurance, travel, and e-commerce were already leaders in technology adoption, other sectors including real estate were forced to follow suit. Suddenly, there was an immediate need to create an environment that ensures continuity despite disruptions.

The real estate sector rapidly transformed the way it operated, flagging off a digital journey which laid open the immense scope of technological intervention and implementation. The need to increase efficiencies and ensure sustenance and rapid scalability in real estate opened wide the technology floodgates.

Today, PropTech has become a boon to every kind of real estate sector stakeholder from landlords to tenants and investors to brokers. Technological disruptions using various platforms and technologies have far-reaching impacts. According to Forbes, 95% of buyers engage on online platforms at the discovery stage of their home-buying journey, and 51% buy property online.

The number of PropTech startups in India has grown at an impressive CAGR of 200% since the government announced the Startup India Campaign in 2015 – to over 1,400 in 2022 from just 2 in 2016. Real estate-focused startups are serving various sub-segments of the real estate industry ranging from sales, construction, finance, and sustainability.

Among those that have attained unicorn status, real estate sector-focused startups are increasingly achieving this coveted milestone. Today, PropTech accounts for 6% of the total recognised startups in the country.

Source: Startup India, Compiled by ANAROCK Research

Data till Sept.2022

Residential real estate accounts for 84% of the total value of under-construction real estate in the country. However, only 700-800 companies account for 13% of the total recognised PropTech startups focused on housing. There is obviously significant upside potential to be leveraged.

Today, PropTech startups in the country are at various phases of their lifecycles. While 30% are currently in their pre-seed stage, 56% have already been successful in raising funds from investors. Many others are currently in the validation stage, seeking to establish the proof of their concept, and many of them are likely to progress to the fund-raising stage soon.

Source: Startup India, Compiled by ANAROCK Research

ConTech

ConTech or construction technology is all about finding innovative ways to build more with less. In India, construction firms had chronically underinvested in technology. Today, the leading players are finally  open to using advanced technologies like construction automation, tech-driven sustainability, and prefabricated materials.

The need for cost-effective, efficient, and faster construction has enabled the use of innovative construction technologies. This is evident from the share of startups focusing on this segment – a massive 57%.

Source: Startup India, Compiled by ANAROCK Research

As PropTech gathers momentum, it will gain increasing acceptance – certainly, the decades-long state of inertia has been broken. As Indian real estate gears up to become a USD1 Tn industry by 2030, the prospects for this exciting offshoot of the technological revolution are more than promising.

Also Read: Pune records highest property sales since 2013

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