PropTech companies have, hitherto, been more “tech” than “prop”, and have been typically founded by technology entrepreneurs and funded by venture capital firms who specialize in tech investing. These technology firms aim to transform the real estate industry into digital players
With work from home trending to be the new norm, residential real estate remains an appealing option from an investment perspective. As the sector gears up, digital expansions in real estate have already entered into a new phase, and it is an affirmative sign that the Indian real estate sector is now a globally recognized industry. It is condensing tech and innovation to enhance business operations and change the industry standard to transform the market. However, the growth of India’s escalating real estate sector was slightly flawed briefly by the global pandemic, but the challenge emphatically led the way and fast-paced the shift.
New-age digital transformation tools and advanced enterprise technologies like internet of things (IoT), ERP, Robotics process automation (RPA), Analytics for decision making & mobility solutions and data science can facilitate tenant churn, enable commercial lease negotiations, prompt asset valuation and increase visibility and productivity.
The pandemic affected almost every industry and business function, resulting in short-term pivots and a shift in priorities for many. For others, it validated their offerings. Conversations with industry leaders reveal that organisations that coped better to the fast-changing external environment brought about by the COVID-19 pandemic were those that leveraged technology to shape solutions for the new normal.
Tech-enabled solutions have changed the landscape and developers with a proven track record are stepping ahead to deliver state-of-the-art products to discerning customers. The digital adoption has also helped developers remain constantly in touch with their customers.
The real estate industry has been one of the slowest adopters of technology, while other industries in the financial world have been embracing it to provide more opportunities and help investors make smarter decisions.
Real estate is making strides in its efforts to catch up to the rest of the financial world, according to a report released today by Jones Lang LaSalle Inc. (NYSE: JLL)
The year 2020 has led to unforeseen changes in various sectors of the economy, and real estate has not been an exception. It remained exposed to multiple challenges, which altered its demand-supply dynamics. However, the sentiment is gradually improving, and realtors are looking forward to 2021 with high hopes
Since last year an increasing number of real estate dealings are taking place remotely, online. In the current circumstances, consumers prefer digital and remote human engagement over in-person interactions—a sentiment that has progressively deepened even after the end of the lockdown
According to a recent report, the real estate companies in India are quickly adopting AI technology for the development of applications that comprise machine vision for easy analysis and surveying of buildings and structures
Technology is taking a centre stage in all business processes associated with residential real estate property and rental management. It is also ensuring owners, tenants, and service providers leverage it efficiently to communicate, deliver services, and transact
The Kolkata Municipal Corporation (KMC) has decided to launch an e-mutation service in the coming months. This will allow residents to apply for mutation digitally without much hassle and reduce the overall approval cycle.
In a bid to ensure rapid registration of properties, the West Bengal government has launched an online registration portal. The move aims at simplifying the registration process for the property owners and reopening the revenue channels for the State.
To start with, the Bengaluru-headquartered IT major has launched the Tenant Acquisition Management solution, which can be integrated as a cloud extension to SAP 'Customer Experience' and SAP S/4HANA software as well.
“The cumbersome process of auction and allotment of plots and tenements is proposed to be simplified and made more transparent by migrating the entire process onto a well-developed software,” GHB chairman Subhash Shirodkar said.
The company is in discussions with Mayar Group, which owns a 100-acre land parcel in Sohna, they said. “It is going to be a joint venture where the foreign fund will develop and lease it. The expected investment will be around Rs 450 crore,” said one of the persons, who did not wish to be identified.