- PropTech is transforming Real estate.
- Will 2022 Be The Year Of PropTech?
- The Real estate sector is hotting up.
Before mapping out the big PropTech trends that dominated the real estate sector in 2021, let’s know what PropTech is, in simple terms.
PropTech growth in India Key factors
- Better regulation & governance – RERA, other regulatory bodies, giving more power in the hands of consumers.
- Digital infrastructure – a lot of companies digitising land records.
- Capital & Talent – the quality of talents now is fantastic.
According to Partner of Venture Highway, the above discussed are the founding basis for the cusp to start.
key growth areas:
- Online property search and transactions.
- Virtual reality/augmented reality – View your home being anywhere.
- Big data analytics.
- Building & construction efficiencies.
- Home automation and smart buildings.
- IOT based water and waste solutions –On a sustainability basis.
- Home interiors.
The framework of India’s PropTech industry – A big picture
- Reports suggest PropTech engrossed over $551 million in 2020.
- No broker becomes the first PropTech unicorn.
- India’s first PropTech (Brigade Reap) accelerator fund, mentored 50+ PropTech start-ups.
- Key investments made by Brigade Reap: WeGot, Bleusing, Charzer, Litestore, ECOSTP, Spintly.
- There are almost 970 real estate tech start-ups in India, an amazing landscape to witness.
- Based on the CB Insights report, the Venture capitalists and other investors put 91/2 dollars into PropTech in the last quarter of 2021.
So, the year 2021 will reminisce that India attained its first PropTech unicorn with a billion-dollar valuation. And many more to emerge/ more investment into PropTech in the year 2022 & the years to come. Back in 2014, Housing.com was the only firm to be funded by the soft company & after 8 years we can see great developments happening. At the moment, India has the potential to unravel various aspects.
Data analytics to be a game-changer in evolving PropTech
Data is the core of all actions, 15 years back, there was no data at all, and today data analytics is big. So the theory matrix is moved on highly.
Developers are keen to unite with firms considering it helps create more revenue, cut cost, & optimise their operation. However, the most important & need of the hour is to build with COP26. Developers & builders should emphasise green/sustainable buildings like water management, impure air, sewage treatment plans etc. Mother earth is currently under crisis, and the measurable steps taken sure make a valuable difference.
The closing line is it is fast-moving & with it, all the phases like educating, amassing, and massification of users is also well handled. India being the very distribution first market, evolving technology will slay & be right in the action. B2C will prevail in 2022 as per the discussions.
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