GenAI could speed Indian real estate sales and launches

Generative Artificial Intelligence (GenAI) could help Indian real estate developers increase sales velocity by 30-50 per cent and accelerate product launches by around 30 per cent, according to EY-Parthenon and CREDAI. Their report, titled “GenAI in Indian Real Estate”, also estimates a 20-50 per cent improvement in workforce productivity and a 20-50 per cent reduction in customer acquisition costs for early adopters.

AI-powered customer intelligence, automated design processes and predictive project monitoring are expected to move the sector toward intelligence-led operations. The shift could shorten decision-making from months to weeks or even days across project planning, feasibility assessment, construction management and customer engagement.

The report estimates that GenAI could add USD 14-17 billion to the real estate sector’s Gross Value Added over the next seven years, a 3-4 per cent increase in sectoral value. By 2030, it projects a USD 359-438 billion contribution to India’s GDP, equal to an additional 5.9-7.2 per cent impact on the economy.

GenAI could reduce deal evaluation time by about 50 per cent and cut land-closure turnaround time by 30-35 per cent. Automated feasibility modelling, seller assessment and internal rate of return scenario generation could let developers evaluate up to 2.5 times more deals.