Higher tech investment in realty will lead to better governance: Parekh

Investment in property technology, including digital backbone, should increase efficiency through real-time monitoring of real estate projects

HDFC chairman Deepak Parekh on Thursday pointed to the meagre amount spent on technology in real estate, saying more investment in technology would improve governance and enhance accountability in the sector.
 
According to him, investment in property technology (proptech), including digital backbone, will increase efficiency through real-time monitoring of real estate projects.
 
The current uptick in the demand for housing is structural in nature and here to stay, Parekh said at a virtual proptech summit.
 
The lower interest rates, stable property prices and continued fiscal benefits on housing loans have aided the growth in home loans over