Property tech firms find new opportunities in real estate through AI

While AI boosts property sales and efficiency, buyers and experts agree human trust remains essential

When Asmita More decided to sell her two-bedroom apartment in Navi Mumbai’s Kharghar, she chose an AI-powered property portal instead of relying on the brokerage network traditionally used. 

The platform connected her with buyers directly, and the sale was completed within weeks. “Maybe yes, because it has worked for me as a person trying to sell property in Mumbai with genuine interest from buyers,” More said when asked whether she would trust such platforms again. 

Her experience points to a broader shift in India’s real estate industry. Property technology (proptech) companies are using AI to handle everything from sales calls to loan approvals — simplifying the process for homebuyers while cutting costs and boosting revenue. 

AI could improve real estate sales velocity — the pace at which properties are sold — by 30-50 per cent and reduce customer acquisition costs by 20-50 per cent, according to an EY-Parthenon-Credai report released in June. The technology can potentially improve workforce productivity by 20-50 per cent and contribute $14-17 billion to the sector’s gross value added over the next seven years by “transforming” planning, construction, sales and customer engagement. 

Beyond using AI in their daily work, proptech companies are making money from the technology by licensing proprietary software to banks, non-banking financial companies and insurers. 

Business use 

Property portal NoBroker says AI has been built into its technology — from room recommendations to blocking fake brokers — since the company launched 12 years ago. Over the last two years, it stepped up those efforts with ConvoZen.AI, an in-house tool that runs its AI voice and text agents, listens in on customer calls, and gives live support to staff. 

AI-driven leads and property matching have enabled certain company businesses to increase revenue by up to 195 per cent while requiring 55 per cent fewer human agents, said Akhil Gupta, founder and chief technology and product officer of NoBroker.  

Square Yards uses AI for both buyers and industry clients. SuperAgent Pro, its automated tool, handles chats in multiple languages, while its data tools use AI to check property values, verify ownership and clear titles. Earlier this year, the company integrated its search feature with ChatGPT, letting people find properties through conversations. 

Vivek Agarwal, cofounder and chief technology officer of Square Yards, said AI-powered tools have boosted user engagement by 50 per cent and conversions by 40 per cent. The company licences its AI software to banks, lenders and insurers — a move that turns the technology into a standalone revenue stream rather than just an internal efficiency tool.  

Truva, another proptech firm uses AI-powered WhatsApp assistants to answer customer queries, recommend properties and schedule site visits. AI voice agents make the initial conversations before handing customers to sales executives. Truva’s sales teams use AI copilots to analyse customer interactions and convert voice notes into recommendations. 

AI-powered WhatsApp interactions have nearly doubled the conversion of enquiries into site visits, according to Truva’s cofounder Puneet Arora. Furthermore, new project launches now draw almost 50 per cent more visits by targeting prospective buyers from the company's existing customer base. 

AI-driven proptech companies are “no longer just novelties but have become mainstream in the home-buying process,” said Aayush Puri, chief executive officer, residential, Middle East, and CEO of Anarock Channel Partners. 

“From offering personalised searches to automated valuations and immersive virtual tours that lower friction for homebuyers and channel partners, the scope is constantly expanding,” he said.  

However, Puri noted, companies are unlikely to build a lasting competitive advantage through AI models alone. Instead, “the maximum advantages come from exclusive datasets, along with the ability to build scale and provide customised automation solutions to stakeholders with different needs.” 

Human touch 

Using AI for customer interactions does not completely remove friction. Iqra Ghori, who recently bought a home in Mira Road, a suburb to the north of Mumbai, said AI-powered recommendation engines and local insights helped narrow hundreds of listings to projects matching her budget and preferences. It made comparing neighbourhoods and connectivity easy but she did not rely entirely on AI. “Some suggestions felt a bit generic or came from outdated listings, so I still did on-site visits, checked possession timelines, and verified developer credentials. AI made discovery far more intuitive and efficient, but it didn’t remove the need for human judgment.” 

While More successfully sold her apartment through a property portal, finding a home on rent the same way was far less satisfying. She found the website lacked customisation, noting that traditional search methods still do a better job of understanding what a buyer actually needs. 

AI is improving efficiency, workflows and customer engagement, but real estate executives acknowledge that fragmented property records, data quality and the emotional nature of home buying limit the scope for complete automation.

“We’ve intentionally kept the experience personal and human rather than trying to automate everything,” Arora said. “Currently, the objective of these AI agents is simply to get the buyer to visit the property. Once the visit happens, everything thereafter is handled by a human because home-buying is a very emotional journey.” 

As real estate companies rush to adopt AI, industry experts say the differentiator won’t be model sophistication, but data quality and the ability to combine technology with human trust. 

AI in proptech is in its infancy, but its role is expected to grow from property discovery to supporting transactions. Executives emphasise that AI will enable — not replace — human advisors, who remain core to the homebuying process.