Property technology companies are revolutionizing India's real estate industry through artificial intelligence implementation. According to reports from Business Standard, AI is being used to handle everything from sales calls to loan approvals, simplifying the process for homebuyers while cutting costs and boosting revenue. AI could improve real estate sales velocity by 30-50% and reduce customer acquisition costs by 20-50%, according to an EY-Parthenon-Credai report released in June. The technology can potentially improve workforce productivity by 20-50% and contribute $14-17 billion to the sector's gross value added over the next seven years by transforming planning, construction, sales and customer engagement.
Property portal NoBroker has integrated AI since its launch 12 years ago, with ConvoZen.AI handling voice and text agents and customer call support. As reported by Business Standard, AI-driven leads and property matching have enabled certain company businesses to increase revenue by up to 195% while requiring 55% fewer human agents. Square Yards uses AI for both buyers and industry clients, with SuperAgent Pro handling multi-language chats and data tools verifying property values and ownership. The company integrated its search feature with ChatGPT earlier this year, boosting user engagement by 50% and conversions by 40%. Truva uses AI-powered WhatsApp assistants that have nearly doubled the conversion of enquiries into site visits and increased new project launches by 50% by targeting existing customers.
Beyond traditional sales efficiency, proptech companies are developing specialized AI solutions for governance, risk and compliance in real estate. According to Unissu, the world's largest Property Technology directory, these Governance, Risk & Compliance PropTech solutions are emerging as a critical segment addressing regulatory requirements and operational oversight. These solutions enable property companies to automate compliance processes, manage risk assessment, and ensure regulatory adherence while maintaining operational efficiency. The integration of AI into compliance frameworks represents a significant advancement in how real estate companies approach regulatory requirements and risk management.
Despite AI's transformative potential, industry experts emphasize that human trust remains crucial in real estate transactions. As reported by Business Standard, AI is improving efficiency, workflows and customer engagement, but real estate executives acknowledge that fragmented property records, data quality and the emotional nature of home buying limit the scope for complete automation. Iqra Ghori, who recently bought a home in Mumbai's Mira Road, noted that while AI helped narrow listings to budget and preference matches, she still conducted on-site visits and verified developer credentials. Currently, the objective of AI agents is simply to get buyers to visit properties, with human advisors handling everything thereafter due to the emotional nature of home buying.
According to Aayush Puri, CEO of Anarock Channel Partners, AI-powered proptech companies are 'no longer just novelties but have become mainstream in the home-buying process'. As reported by Business Standard, the differentiator won't be model sophistication but data quality and the ability to combine technology with human trust. AI in proptech is in its infancy but expected to grow from property discovery to supporting transactions. Executives emphasize that AI will enable — not replace — human advisors, who remain core to the homebuying process.
