Proptech Investments In India Projected To Reach $16 Bn By 2030

Mumbai: Driven by affordable housing, proptech investments in the country are projected to grow at a robust 15 per cent CAGR, rising from $6 billion in 2023 to $16 billion by 2030, a report said on Monday.

The global proptech market saw investments of around $50 billion in 2023, with India ranking sixth in total funding raised. In 2023 alone, Propyech accounted for 6 per cent of all recognised Indian startups.

“Technology drives development across industries. The growing investment in proptech is revolutionary for India, benefiting the real estate industry while supporting sustainability.

For a growing economy like ours, PropTech is both advantageous and imperative,” said Shishir Baijal, Chairman and Managing Director, Knight Frank India.

The Indian real estate sector, valued at $258 billion, contributes 7.3 per cent to the nation’s GDP of $3,540 billion.

Despite the large size of the sector, there is an urgent need for affordable housing. Major cities have seen rapid urbanization and rising property prices, which have made housing unaffordable for many, including the middle-income group.