India’s Real Estate Revolution: How PropTech and Reforms Are Outpacing China

As China’s real estate sector faces its most challenging period in decades, India is quietly emerging as the new global powerhouse. While China’s property market is mired in a historic downturn, India is seeing record-breaking home sales, a surge in foreign investment, and sweeping regulatory reforms that are transforming its property sector into a magnet for global capital.

A Tale of Two Markets

China’s once-booming real estate sector, which contributed nearly 30% to its GDP, is now in a prolonged slump. According to the National Bureau of Statistics, new home prices in China fell 4.5% year-on-year in 2024, the sharpest drop since 2015. This crisis has wiped trillions off China’s GDP prospects, leaving behind ghost cities, cash-strapped developers, and wary investors. The number of Chinese real estate companies valued at over a billion dollars has plummeted from 100 to just 30 in recent years.
India, on the other hand, is enjoying a historic boom. ANAROCK Research reports that housing sales in India’s top seven cities reached 4,76,530 units in 2023-a 31% rise over the previous year. Institutional capital inflows exceeded $5 billion (approx ₹41,500 crore), as foreign investors increasingly turn to India’s transparent and organized market. The country now boasts 36 real estate companies valued at over a billion dollars, up from just seven six years ago. This surge is driven by urbanization, a growing middle class, and evolving consumer preferences.

The Foundation: Reforms and Technology

India’s transformation is anchored in both demand-side growth and supply-side reforms. Landmark initiatives like the Real Estate Regulatory Authority (RERA), digitized land records, and the Smart City Mission have laid the groundwork for a more transparent and scalable sector. These reforms have brought credibility, protected buyers, and made the business more organized.
On the ground, brokers and developers are embracing change. Aayush Puri, Head of ANAROCK’s Channel Partner vertical and PropTech platform ANACITY, highlights how technology is revolutionizing the industry: “Real estate is one of the last great industries to be disrupted by tech. India is finally leading that transformation.”

PropTech: The New Engine

PropTech is at the heart of this revolution. According to a joint report by HDFC Capital, Brigade REAP, and Knight Frank, proptech investments in India are expected to grow at a robust 15% CAGR, rising from $6 billion (₹49,800 crore) in 2023 to $16 billion (₹1,32,800 crore) by 2030. Tools like AI-powered sales platforms, digital documentation, and broker analytics are streamlining transactions, boosting transparency, and building investor confidence. Innovations such as ANAROCK’s AI tool ASTRA are accelerating project sales and maximizing efficiency.
“India’s twin engines-brokerage innovation and operations tech-are creating a fundamentally more resilient market,” says Puri.

Demographics: India’s Unmatched Advantage

While China’s urban population is shrinking and homeownership rates already exceed 90%, India’s demographic engine is just getting started. By 2035, India’s urban population is expected to surpass 600 million. The country’s rising middle class, projected to reach 500 million by 2030, is fueling demand for homes and digital solutions. First-time buyers, institutional investors, and modern developers are driving an ecosystem that’s moving beyond brick-and-mortar to become digitally enabled and globally investable.

A New Global Magnet

India’s real estate sector is now a magnet for global capital. Regulatory clarity, digital adoption, and demographic strength are attracting investors who once favored China. With a projected real estate market value of $1 trillion (₹8.3 lakh crore) by 2030, and a growing middle class, India is poised to become the world’s next real estate powerhouse.