Reimagining Real Estate: The Digital Transformation in India

India's real estate sector, valued at USD 650 billion, is embracing digital tools to boost efficiencies amid cost pressures and regulatory demands. A report by FICCI and KPMG highlights a shift towards technology-driven processes, aiming to transform project execution, sales, and asset management across the industry.

India's real estate sector, currently worth USD 650 billion, is increasingly turning to digital solutions to improve efficiency amid increasing costs and stricter regulations, according to a joint report by FICCI and KPMG. The report, titled 'Reimagining India's Real Estate Landscape: The Role of Technology in Value Chain Transformation,' was released at a FICCI-organized real estate summit.

The sector, traditionally marked by fragmented workflows and paper-based processes, is undergoing a structural shift, with technology becoming a core component in every stage, from site selection and design to sales and asset management. FICCI and KPMG have identified several key drivers for the adoption of technology, including the need for cost efficiency, higher regulatory compliance, and the changing demands of more informed and digital-savvy homebuyers.

Projection data suggests that the market, expected to reach USD 5.8 trillion by 2047, is moving towards institutionally managed channels. With over USD 16 billion unlocked through REITs and InvITs, this trend signifies a move away from fragmented ownership, fostering greater transparency and accountability through proptech innovations.