NEW DELHI: Technology has the potential to reshape conventional practices within the real estate sector in India, said Gaurav Jain, vice-president at NAREDCO, in his keynote address at Right to Excellence - Real Estate Summit orgainsed by Times of India on Friday.
The summit, organised to decode the future of Indian real estate, saw several experts dwell on the problems facing the housing sector and deliberate on the possible solutions.
During the conclave, he emphasised sustainability and endorsed achieving net zero. The target is to attain industry-wide net zero by 2047.
"We are virtually at the bottom of the pyramid in terms of technological adoption," Gaurav Jain said as he emphasised the importance of accepting rapidly evolving technology in the sector.
He also highlighted the lack of transparency in the real estate sector and called it a longstanding challenge for the industry.
Jain lauded the efforts of key figures such as Real Estate Agents (REA) and individuals like Samir Jasuja, Founder & CEO of PropEquity, for spearheading technological advancements aimed at enhancing transparency within the industry.
He further underlined the necessity for digitalising land records, asserting that such measures are critical for fostering transparency and eliminating barriers to lack of information.
"Technological advancement is required to change the mindset of the regulatory framework; it adds value to everybody," Gaurav Jain emphasised.
Ready to Master Stock Valuation? ET’s Workshop is just around the corner!
The TOI Business Desk is a vigilant and dedicated team of journal...
Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
Read Less
Start a Conversation
Post comment