Realty Bytes - February 2022

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Digital interventions like Blockchain and AI transforming realty sector in India: Report

The real estate sector has been on the path of recovery since last year. Traditionally, the industry has been a laggard in terms of the adoption of digital technologies. However, the pandemic and growing proptech space have accelerated the adoption of new and emerging technologies. This edition of Grant Thornton Bharat’s ‘Realty Bytes’ focuses on how digital interventions are driving a positive impact for the realty sector in India.

According to Sumeet Abrol, Partner, Lead Advisory, Grant Thornton Bharat, “The Union Budget 2022 has provided INR 7.5 lakh crore outlay for capital expenditure to drive growth across industrial, commercial and residential real estate. With high investor confidence, being carried forward from 2021, this year is also likely to witness high deal activity. A major reason for this being owed to the various digital interventions transforming this space”.

According to Pranav K, Client Advisor, Digital Transformation-dGTl Grant Thornton Bharat, “This pandemic has really forced industries to rethink their business and operating models. Real estate is one such sector where customer focused digital interventions such as 3D virtual tours and chatbots are gaining a lot of traction. Technologies such as Blockchain and Artificial Intelligence are becoming board room discussion topics”.