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Indian real estate has come a long way but let's face the fact - several things are still wrong with it.Unethical real estate agents, shifty landlords, fraudulent title documents, sub-par construction quality, unrealistic prices, shady/no agreements, are just some of the factors contributing to the already tedious process of finding the right home.
And at the bedrock of most of these problems is the issue of trust. It's time Indian proptech firms stop brushing this under the carpet and attack it head on. Tech after all, is meant to build trust.
Indian Solutions for India
Ever wondered why there are only a handful of trustable builders and brokers in India? What makes them the flagbearers of ethical dealings in today's huge property markets?
Why can't technology uplift thousands of ethical builders and brokers who are building and renting/selling millions of homes across our nation?
Why does proptech have to be so exclusive?
We need to stop retro fitting western solutions to the Indian real estate market, and proptech startups need to stop emulating one another to create the perfect copy. It is high time that tech solutions are created ground-up for our highly diverse yet trust hungry regional markets.
Will Techies Please Stand Up?
India is the world's go-to place for software development. Bangalore is the world's tech hub but it is also a hub for fraudulent real estate transactions, with billions of hard earned money lost by ordinary folks each month. And such examples exist across all our big cities.
It’s high time we moved on from the current dominant messages in the property market - size and diversity – to instead communicate the local expertise that is more relevant to today’s clients.
Till then, even with billions invested in our home-grown proptech firms, when someone moves to a new city, they love finding the perfect homes to rent, share or even buy, on Facebook!
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PropTech