The real estate sector is well-known throughout the world for its contributions to economic activity and the growth of a country.
Traditionally, the real estate sector has been classified as one of the largest employers in a variety of activities and processes such as construction, design, development, advisory, financing, and sales, but in recent decades, the real estate sector has emerged with promising opportunities for entrepreneurship.
The real estate industry is currently booming with innovation, making it one of the fastest-growing professions.
Real estate entrepreneurs, primarily in the proptech space, are capitalising on the boom in new technical breakthroughs to bring digital change to the property market.
We see various real estate startups with novel business models that are disrupting the industry’s traditional systems and processes.
Proptech entrepreneurs now provide a variety of solutions for the real estate markets.
There are several property search tools available, as well as novel buying solutions, new rental practises, selling options, and new concept agents and landlord solutions.
All of these provide customers with simple access to reviews, pictures of how the property appears throughout the year, tools to grade the property’s infrastructure, and a variety of other features.
Many significant firms in the field are app and web-based listing systems for residential properties that offer various search services to home owners and home seekers without or with little brokerage fees and hidden charges.
Such businesses add value to the renting and selling processes by providing owners and buyers with a variety of innovative solutions.
This domain has also seen various ventures such as Covie, Awfis, Smart Works, and IndiQube, which provide businesses with the convenience of co-working spaces.
There are additional businesses that offer house design and purchasing application services. Many also offer a 3D picture of the lodging, which allows the customer to have a greater sense of the room.
Students and working-class persons are the most typical groups who seek affordable housing.
Some of the players offering co-living facilities for students and early professionals include Zolo, Covy, and Stanza Living. Similarly, in the mortgage industry, organisations such as Square Yards offer solutions.
To conclude, the real estate market in India is a large sector, and a lot of companies today are trying to diversify their services and operational locations to target the population that will be using their services- from co-living to coworking.