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Tech-adoption can open great opportunities, says Tanuj Shori

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Technology-adoption in the real estate field can open tremendous opportunities for stakeholders and digitisation of land records will multiply property market potential ten-fold, said Tanuj Shori, Co-founder and CEO, Square Yards.

Speaking at an online Digital India Town Hall, Shori said, “There can be a 10 times jump in the real estate market with the adoption of technology in the real estate domain. There are many areas within the real estate industry where technology can be adopted like digitisation of land records”.

Regardless of the fact that the majority of Indian households’ wealth is invested in the real estate sector, accessing land records and related information is very difficult. Not only individual homebuyers, even real estate developers who have all the means have to make a lot of effort to get proper and authentic information. Most industries and sectors are now adopting digital mode to reach out to their customers, but until land records and property transfer and registration process is digitised, real estate will not be able to get benefited.

The Town Hall was organised by online news platform Yourstory.com, coinciding with the completion of five years of Digital India initiative of the Central Government.

Ravi Shankar Prasad, Union Minister for Communications, Electronics & Information Technology and Law & Justice, was the Guest of Honor and other panelists were Vijay Shekhar Sharma, CEO of PayTm, Sujeet Kumar, Co-founder of Udaan.com, Mukesh Bansal, Co-founder of Cure.Fit, Naveen Tiwari, founder and CEO of InMobi and Harshvardhan Luni, Co-founder and CEO of Lending Kart.

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Shori explained that with the adoption of technology, Square Yards has been able to grow and expand to 10 different countries and aims to become the only ‘Global Brand In Real Estate Sector’ with origins in India. “There are many regional players in the world but no global brand in the real estate sector. We hope to become a global brand by conquering western and other emerging markets,” he said.

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