Land record digitization to amplify potential of property market in India

Land record digitization to amplify potential of property market in India

Tanuj Shori, CEO and Co-Founder at Square Yards, India’s foremost proptech player, has opined that land record digitization will amplify the potential of the country’s real estate market by ten times. Speaking at the Digital India Town Hall, Shori stated that the market will witness a major boost with increasing technological adoption across several areas including land record digitization. 

Getting access to land records and other vital information is often a tough task for both individual buyers and real estate developers alike. Most sectors are now taking the digital route for reaching out to prospective customers. However, until the process of property transfer/registration and land records are fully digitized, the realty sector will not fully benefit. 

The Digital India Town Hall was set up by Yourstory.com, the online news platform as a commemoration of the completion of 5 years for the Digital India initiative by the Central Government. The guest of honor at the event was the Union Minister for Communications, Electronics & Information Technology and Law & Justice, Ravi Shankar Prasad. Panelists included the CEO of Paytm, Vijay Shekhar Sharma, Udaan.com co-founder Sujeet Kumar, Cure Fit co-founder Mukesh Bansal, Lending Kart CEO and co-founder Harshvardhan Luni and the CEO and founder of InMobi, Naveen Tiwari. 

Also read: Union Minister addresses Tanuj Shori and several top Indian Entrepreneurs at #DigitalIndia Townhall

Shori stated that Square Yards has expanded to 10 countries worldwide with rapid technological adoption, aiming at becoming the sole global brand in the Indian realty sector. The company has a presence across 9 countries and 25 cities and is planning to expand to more markets in the near future. It strives for technological integration throughout all its verticals, offering cutting-edge transaction and usage features for real estate developers and customers alike. 

Some other innovations at Square Yards include specialized software options for national and global real estate developers for streamlining distribution and sales functions. Azuro, the country’s first service for property management, has been launched for services like finding tenants, background checks, automated rent collection procedures, inspection of property and maintenance upon the exit of the tenant. Square Capital, the company’s Fintech division, has tied up with various NBFCs and banks for offering a wide range of technology driven and hassle-free property financing solutions.

Published Date: 2nd July 2020