The PropTech market in India is expected to reach ₹10,000 crore by 2028, growing at a CAGR of 20%. According to a report by Inc42, the PropTech market is being driven by the increasing adoption of technology in the real estate sector, particularly in areas like property buying and selling, rental management, and construction. Companies like Nobroker, Housing.com, and Square Yards are leading the charge, using data analytics, artificial intelligence, and machine learning to disrupt traditional real estate business models.
The report also found that 70% of homebuyers in MMR are using online platforms to search for properties, highlighting the growing importance of PropTech in the sector. With the government's push for digitalization and innovation, the PropTech market is expected to see significant growth in the coming years. In fact, a recent funding round by a leading PropTech company saw investment from top venture capital firms, highlighting the confidence of investors in the sector.
As the PropTech market continues to grow, it is expected to create new job opportunities in areas like data science, software development, and digital marketing. Additionally, the growth of PropTech is also expected to drive the adoption of new technologies like blockchain and virtual reality in the real estate sector, which will further enhance the homebuying experience and improve operational efficiency for developers and channel partners. With the PropTech market expected to reach ₹10,000 crore by 2028, it is clear that technology will play a major role in shaping the future of the real estate sector in India.
