Chennai: As more and more homebuyers in India plan and execute their property purchases through virtual platforms in the aftermath of the coronavirus pandemic, the Proptech industry in India attracted over $551 million in 2020, surpassing the aggregate of previous year – $549 million, shows a latest report.
The study titled ‘PropTech: The Future of Real Estate in India’, by the Elara Group-owned online real estate advisory portal Housing.com. shows that investments in the Proptech segment grew marginally up to $551 million in 2020 from $549 million in 2019. However, even the marginal upwards movement could be termed as significant, considering the unprecedented challenges the world faced during 2020.
More importantly, investments in the segment during the year were at their peak in 2020 since tech-based start-up companies in India began entering the real estate segment in India, starting 2000s, it said.