How technology is proving a game changer for the Real estate sector?

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Meta description: The technology integration in the real estate sector is fuelling new avenues of growth with property management getting specifically benefited from the adoption of technology. 

Technology adoption in real estate

The growing use of technology in every sphere of life has enhanced the level of comfort and convenience for companies and customers alike. From fast-moving consumer goods to the automobile industry and from the consumer durable sector to eCommerce, each and every industry is reaping the benefits of enhanced integration and adoption of technology. 

The real estate sector is also keeping pace with intensified technology adoption and has started embracing novel solutions on multiple business fronts at once. Whether it is a search for the right property, completing the complicated paperwork, or applying for the finance, technology is proving a panacea for enriching the customers’ experience in the real estate sector. It’s really heartening to witness that majority of procedural functions and operational mechanisms in the property market are getting a digital makeover (from their old rustic ways) which is proving immensely beneficial for the entire industry. 

Propdial: Leading technology start-up in property management

The segment of Property Management is the one which has benefitted from the adoption of technology quite significantly. From virtually showing the property, boarding the tenants online, or raising online requests for service partners, the use of technology has changed the very face of property management in the real estate sector. Not only does the use of technology bring more efficiency to these functions but it also benefits the entire value chain by reducing the overall cost structure associated with processes of property management. 

Propdial – Gurgaon-based startup helping NRIs and Resident Indians staying away from their properties by offering a complete constellation of services that include property inspection and reports, tenants discovery and on boarding, fully digitised agreement & background check, on-demand maintenance services, and customised dashboards for owners and tenants.

 What sets Propdial apart from the rest?

India’s leading property management Propdial can be easily considered as a one-stop solution for all your needs related to property management. By specifically focusing on offering the complete care and management of remote properties, this startup has carved a distinctive place for itself in the market. Following are some statistics that testify to the immense popularity that Propdial enjoys among customers:

  • Propdial has more than 5000 happy customers who swear by the credibility of its services. 
  • It has clients from more than 50 countries with operational presence across 10 States and 20+ Cities  
  • It’s already managing more than 2000 properties successfully with the highest level of efficiency and client satisfaction (4.7/5 rating)
  • It has a client retention rate of more than 80%, the highest among the business sectors in the country
  • It has a fully-equipped ecosystem of property management with more than 200 service partners. 

Second home property services 

In fact, further upping its game, Propdial has recently ventured into a second home shared ownership space. The growing income and interest in buying second property have propelled the segment to new heights of the prominence of late. However, the needs and expectations of second property buyers are considerably different from first property owners. The former set of buyers-cum-investors attaches more aspirational value to their second property. Further, they want their second home to offer recurring income and a lucrative return on investment. Besides, these owners also aspire to enjoy usage of their own or on swap basis properties of  this closely knitted community members.

By early recognising these latent needs, Propdial has come up with novel solutions for the niche segment of second property owners. The services include the concept of shared ownership, full lifecycle management of property, the option of self-usage, and high return on investment. Thanks to all these innovative services, the second home property management services have proved a runaway success for Propdial. In fact, prospective customers from across the globe are vying to use these holistic property management solutions from Propdial. 

Growth scenario and future outlook 

With an already impressive 320% annual growth in revenue during FY22, and setting a path for bigger YoY growth, Propdial has emerged as a prominent player in the property management sector on a global scale. The success mantra of the organisation is very simple – create a win-win solution for all the stakeholders involved in the ecosystem of property management and the real estate sector. 

The adoption and integration of technology remain the core mantra of success for Propdial and the startup is fully committed to developing tech-based solutions for further enriching the customers’ experience. In addition, the startup has multiplied its efforts to further expand its network of service partners as the presence of wide-reaching partners is the prerequisite for success in the real estate sector. 

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Views expressed above are the author’s own.