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The disruptive tech interventions are transforming the way properties are bought, sold, rented, and managed. As per Abhishek Prasad, Lead IDEA Labs, JLL, the new generation is inherently tech-savvy and seamlessly integrates digital advancements into their lives. “In the realm of real estate, a digital overhaul promises a staggering glob- al potential of $400 billion by 2023, expanding at a remarkable rate of 25% annually. As the Indian market stands at the cusp of this transformation, it represents a lucrative era for stakeholders within the ecosystem.”
Sudhanshu Kejriwal, Managing Director, Keydemand, articulated, “I started my 16-year real estate jour- ney in Hyderabad and have since observed brands' struggle with ex- panding into tier 2 and 3 cities. To address logistics and inventory issues, we created a platform to connect brands to their ideal properties in lesser-known cities like Almora and Siliguri. By establishing a brand pres- ence in these growing areas, India's economy can expand beyond its seven major cities. Our platform aims to foster this growth and pave the way for a stronger economy.”
Rahul Goyal, Co-Founder, Re- alatte Ventures LLP, added, “In the marketing realm, brands are swiftly ditching spreadsheets for advanced CRMs. AI-rich tools create visuals that eclipse even the best designers, driving engagement and drawing in customers. Personalization reaches new heights as AI greets thousands by name in videos, forging deeper bonds and enhancing user experi- ence. Real estate influencers scale their influence through digital arenas where their audience dwells, like In- stagram Reels. With cookies fading out, the quest for new tracking tech- nologies offers a chance to boost ROI, especially in highly competitive digital landscapes.”
Imran Shaikh, Co-founder, Propacity, shared his tech impact, “At Probacity Platform, we've developed an AI Cockpit module that leverages over a thousand on-platform con- versations to empower promoters. This tool harnesses generative AI, trained specifically on real estate data, for precise insights into buyer profiles and preferences. Our creative strategies are informed by these in- sights, shaping targeted advertising for maximum impact. Our AI assists in vital decisions, such as pinpointing the right moment to launch a new property type and price point. It also optimizes campaign creatives and messaging, ensuring promotors make savvy investments for enhanced returns. Through our tech, we're rede- fining how promotors strategize and boost their ROI effectively.”
Briefing on recent PropTech trends and startups, Manjusha Pingali, Head - Portfolio Growth, Brigade REAP, expressed, “PropTech has swiftly moved beyond mere property listings, now encompassing full-ser- vice options such as interior design and Web Assembly Module (WASM) to boost platform loyalty. The phe- nomenon grew into communal living and workspaces, which experienced a surge during COVID-19, but the focus is shifting to B2B solutions like material procurement for business- es. Herein lies a golden chance for innovative startups to tackle the significant inefficiencies plaguing construction tech. For startups, it's crucial to balance client risks with rewards, remembering that lower-risk innovations tend to attract faster adoption. It boils down to how well a startup can pitch its product's value against cost, as a strong market po- sition could be the key to thriving in the ever-evolving PropTech arena.”
Uttam Reddy, Founder, PropChk, concurred, “Every construction or realty professional should reflect on their impact. Purchasing anything, from a meal to clothing, typically brings joy, unlike the anxiety that of- ten accompanies acquiring a proper- ty, due to delivery worries or potential defects. House purchasing in India is far from enjoyable; the good and bad builders notwithstanding, it's an overall disappointing venture. This insight spurred me to pursue a scal- able solution with the potential for national or global implementation.”
