At a time when real estate sales are picking up across the country, the number of property technology (PropTech) start-ups has grown by 50%, to 1500 this year (till October) from 1000 in 2020.
This reflects buyers’ growing engagement via online platforms, right from the discovery stage of their home-buying journey to the eventual purchase.
Region-wise, West and South India account for 50% of the PropTech recognised as start-ups between 2016 and 2022.
However, the funding winter has impacted PropTechs, too, as they have raised only $130 million so far this year as compared with $465 million last year.