Technology should be an integrator and not a disruptor in proptech, say experts at TechSparks 2021

Experts from the Indian housing fraternity discussed how proptech is revolutionising the real estate industry and throwing up more opportunities for all stakeholders

File photo
File photo

With technology seeping into every sector, property technology, or proptech as it is popularly known, is actively playing a role in redefining the world of real estate. The industry has been infusing technology in everyday operations to streamline procedures and enhance transparency.

On Day 5 of YourStory’s TechSparks 2021, a host of personalities on different forums discussed the future of proptech in India, and how technology can be used to urbanise the country. The discussion kicked off with a talk by Durga Shanker Mishra, Secretary, Ministry of Housing and Urban Affairs, Government of India, followed by a launch hosted by John Kuruvilla, Chief Mentor, Brigade Reap. The dialogue concluded with a panel discussion among Vipul Roongta, Managing Director and CEO, HDFC Capital; Arvind Subramanian, MD and CEO, Mahindra Lifespaces; Nirupa Shankar, Executive Director, Brigade Group; Samir Kumar, MD and General Partner, Inventus Capital Partners; and Tanuj Shori, CEO, Square Yards

Digital transformation for urban India

India is going through a rapid urbanisation process. Taking note of how population growth in urban areas overtook that of the rural ones in the 2011 census, Mishra added that the 2021 census projections also state that the urban population constitutes around 35-36 per cent of the total population. He was delivering a talk on ‘Leveraging technology for urbanisation’. While the government is remediating around 15,000 acres of dumpsites using technology, the Atal Mission for Rejuvenation and Urban Transformation has used technology to provide water and sewer connections and convert street lights into LED lights. “All these six cities have a different kind of construction technology, the foundation for which was laid on January 1 this year. I’m happy to see that two 14-storeyed buildings have come up in just 35 days and the kind of finishing guarantees are such that it’ll stay up for 100 years without requiring any maintenance. It is resource sufficient, resilient to climate, and it’s a rapid construction technology,” said Mishra. He highlighted that the focus of the ministry is to bring ease to citizens’ living styles using technology. “When we work on a big scale, technology assists us in bringing about reliability, confidence and consistency in whatever we are doing for the citizens,” he said

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