“India Is Building Smarter, Not Faster”: Aayush Puri on How PropTech and Reforms Are Giving India a Real Estate Edge Over China
As China’s real estate market grapples with its deepest crisis in decades, India is quietly and confidently emerging as a global real estate powerhouse. According to Aayush Puri, Head of ANAROCK’s Channel Partner vertical and PropTech leader at ANACITY, the shift is not just momentary. It’s structural.
“China built too much, too fast resulting in ghost cities,” says Puri. “India, on the other hand, is building smarter. Technology and reforms are improving transparency, speeding approvals, and scaling development sustainably across the country.”
From Slow Starter to Market Leader
Long overshadowed by China’s meteoric rise in property development, India is now outpacing its northern neighbor, not in speed but in smart, tech-driven, and regulated growth. While China’s property market is mired in a historic downturn marked by declining home prices, cash-strapped developers, and evaporating investor confidence, India is setting new records.
According to ANAROCK Research, India’s top 7 cities saw housing sales hit an all-time high in 2023, with 476,530 units sold, a 31% increase over 2022. Foreign institutional capital is following the momentum, with over $5 billion in real estate inflows last year alone.
The Power of PropTech and Policy
What’s driving India’s real estate renaissance? A potent mix of digital transformation and regulatory overhaul. Puri credits the adoption of PropTech and forward-thinking governance as the twin engines of change.
“Real estate is one of the last great industries to be disrupted by technology,” says Puri. “India is finally leading that transformation.”
Reforms such as RERA (Real Estate Regulatory Authority), digitized land records, and Smart City initiatives are making the sector more transparent, accountable, and investable. Meanwhile, PropTech adoption is accelerating, reshaping how deals are made, communities are managed, and projects are executed.
According to a joint report from HDFC Capital, Brigade REAP, and Knight Frank, India’s PropTech market is projected to grow at 15% CAGR, from $6 billion in 2023 to $16 billion by 2030. The growth is fueled by innovations like AI-driven transactions, digital documentation, broker analytics, and property management SaaS platforms.
“India’s brokerage innovation and operational tech stack are creating a fundamentally more resilient market,” Puri adds.
The Demographic Advantage
While China faces an aging population and declining urban growth, India’s urbanization is only just beginning to peak. By 2035, over 600 million Indians will be living in cities, fueling sustained demand for housing, infrastructure, and commercial development.
This demographic dividend, combined with the rise of first-time homebuyers, forward-thinking developers, and growing foreign interest, is creating a self-sustaining ecosystem of growth. India is no longer just building for numbers it’s building for the future.
A Shift in Global Investor Sentiment
The global investment community is already taking notice. With China’s slowdown dimming its once-reliable returns, India is rapidly becoming the new destination of choice for global real estate capital.
“India’s model isn’t just about scale, it’s about strategy,” says Puri. “We’re combining regulation with innovation. And that’s something the world wants to invest in.”
Conclusion: India’s Moment Has Arrived
The era of copycat growth is over. India is not replicating China’s real estate strategy, it’s leapfrogging it. As regulatory clarity meets digital innovation, and urban demand meets disciplined supply, India is redefining what it means to grow a property market in the 21st century.For Aayush Puri and other industry leaders, one thing is clear: India is building smarter and the world is watching.
