Pioneering the Digital Turn in Real Estate

Durga Shankar Mishra, former secretary in the Ministry of Housing and Urban Affairs, called on real estate developers to enhance their marketing strategies by embracing online platforms. Addressing a conference organized by Assocham, Mishra underscored the potential of e-commerce in the real estate domain, mirroring the advances seen in other industries.

Mishra, who also served as the Chief Secretary of Uttar Pradesh, urged developers to leverage technology to simplify the home-buying process. He emphasized that utilizing these tools need not significantly inflate project costs but could substantially increase sales efficiency.

Highlighting the sector's growth potential, Mishra noted that real estate currently contributes 13% to India's GDP and is poised to reach a market size of USD 1 trillion by 2030. He also stressed the importance of urbanization as an opportunity, advocating for land availability and the implementation of policies like land pooling to spur development.

(With inputs from agencies.)