PropTech has become a game-changer, introducing digital tools with the potential to reshape the entire real estate industry. However, while early adopters and a handful of tech-forward companies have embraced PropTech, achieving mass adoption remains a challenge.
Nidhi Srivastava, Co-Founder of Vibe Services and Managing Director of Graviti Properties raised a fundamental question: How can India achieve mass adoption of PropTech, especially considering the traditional nature of the real estate industry? While India has made tremendous progress in embracing technology, particularly in urban areas, challenges remain in reaching a larger, more diverse audience.
While the journey toward mass adoption of PropTech is complex, it has now become a necessity for the growth of the Indian real estate sector. Nidhi Srivastava
Nikunj Bhuta, Co-Founder & Director of M.Space Realty, emphasized that the key to mass adoption of technology in real estate is not about forcing users to adopt it but rather helping them understand its value in a simple and intuitive way. "The real estate industry is deeply traditional, and resistance to technology is common. Technology adoption is only possible if the tools provided are accessible and practical," he noted. Nikunj shared the example of their AI-powered app, M Connect, designed specifically for real estate professionals. The app enables users to easily access a wide range of services and manage their portfolios efficiently. While there was initial hesitation, today, over 4,000–5,000 professionals actively use the platform, demonstrating the effectiveness of user-centric tech design.
The future of real estate in India will be shaped by technology, and the next few years will be critical in ensuring that this transformation happens at a broader scale. Nikunj Bhuta
Ronak Morbia, Chairman & MD, ArisInfra Solutions Ltd., took a slightly different approach, focusing on the relationship between trust and technology. "Technology should solve a real, pressing problem. It should not be introduced for its own sake. The users must see tangible results in their daily operations for technology to gain their trust," he stated. He further explained that AI, while revolutionary, is still evolving and built on vast datasets. The more data a system accumulates, the smarter and more effective it becomes. However, this continuous evolution means that trust is earned over time through consistent and reliable execution. As the technology proves its worth, users will feel more confident in its effectiveness and potential.
Technology should not be introduced for its own sake. The users must see tangible results in their daily operations for technology to gain their trust. Ronak Morbia
Government's Role in Propelling Technology
As a matter of fact, technology adoption cannot happen overnight. Trust is not built by flashy demonstrations or one-time trials. Instead, it requires consistent, positive experiences with the technology over time. The result is a more natural integration of PropTech into users' daily practices.
Aayush Puri, Founder & Head of Anacity, highlighted the significant role the government plays in encouraging technology adoption, such as the Smart Cities project, Startup India, and digitalization efforts in the wake of the COVID-19 pandemic. "The government's active promotion of technology through initiatives and campaigns sends a clear signal to the private sector about the importance of embracing innovation," Aayush said. He also highlighted the importance of RERA, which is helping to build transparency in the industry. "With these policies in place, technology is no longer seen as a risk, but rather as an enabler of transparency and accountability."
Government's ongoing push for digital solutions sends a clear signal to the private sector to accelerate technology adoption. Aayush Puri
Garima Bharadwaj, Co-Founder & CTO of Enlite, agreed that when the government mandates or promotes the use of specific technologies, it acts as a catalyst for wider acceptance. "Government-backed initiatives have a powerful marketing effect,"
She pointed to the widespread adoption of UPI payments as an example. The government's push for digital transactions through initiatives like Digital India led to a rapid and almost seamless adoption of digital payments in the country. Garima stressed that PropTech could benefit from a similar approach, where government-endorsed initiatives provide the necessary visibility and legitimacy.
When the government endorses technology, it helps eliminate hesitation and builds momentum in the market. Garima Bharadwaj
Apart from the continued support from the government, both in terms of policy and infrastructure, Cherian Sankey, Managing Director of Edge 30 Technologies Pvt Ltd, took a deep dive into the role that education and training can play in the successful adoption of PropTech. He pointed out that one of the primary barriers to technology adoption is the lack of understanding among stakeholders about how technology can benefit them. "Many clients and real estate professionals are still unsure about the true potential of PropTech. The first step in overcoming this barrier is educating users on the practical benefits of adopting technology. Once people understand how a tech solution can improve their workflow or deliver tangible results, they are much more likely to embrace it."
It's important to show users the real-world value of technology before they are asked to adopt it. Cherian Sankey
Dhruv Gandhi, CEO of Simpliforge Creations, was optimistic about the growing adoption of technology and predicted that, in the next few years, India would see a surge in tech-driven real estate projects. "In the coming years, we will see Indian cities start to look more like Dubai, with smart buildings and cutting-edge technology integrated into every aspect of real estate," he noted. While adoption is still in the early stages, developers, builders, and architects are increasingly seeing the value in incorporating technology into their projects. Technology will be key to creating the infrastructure of tomorrow. In the near future, it will be difficult to imagine a building or a city that isn't powered by PropTech," he concluded.
Tech transformation would not only make real estate development more efficient but would also lead to more sustainable cities. Dhruv Gandhi
