EY: PropTech’s market size set to cross $600 Bn by 2047

27 Nov 2024 CW Team

The proptech segment within the real estate market is projected to grow exponentially, with its market size expected to reach $600 billion by 2047, up from the current $10.5 billion, driven by a technological revolution, according to a joint report by Credai and EY. The broader real estate sector is also anticipated to surge, crossing a market size of $4.8 trillion by 2047, compared to its current value of $300 billion, contributing more than 18% to India’s projected $26 trillion GDP target by the same year. The report highlights that the current penetration of ICT and proptech-based solutions in the real estate sector stands at $10.5 billion, less than 5% of the total market size. However, by 2047, proptech is expected to grow to $600 billion, making up around 12-13% of the overall real estate market. Proptech is evolving from a supportive role to a key growth driver in the real estate sector, with innovations such as Artificial Intelligence (AI), the Internet of Things (IoT), and Building Information Modelling (BIM) revolutionizing operations. These technologies are streamlining automation, improving operational efficiency, reducing costs, and enhancing margins across the real estate value chain.

Infrastructure Urban

07 Oct 2025

India’s Rs 370 Bn Petrochemical Expansion to Shift Asian Supply

India’s planned investments worth over USD 37 billion (around Rs 3 lakh crore) in the petrochemical sector are poised to reshape Asia’s supply landscape, according to a new report by S&P Global Ratings.The report noted that India’s drive toward petrochemical self-sufficiency mirrors China’s earlier expansion and could intensify competition in the region. “India’s capacity additions will significantly alter trade flows and increase competition among Asian producers,” said Ker Liang Chan, credit analyst at S&P Global Ratings.S&P estimated that public sector enterprises ..

Maharashtra Sets Up Authority to Boost Self-Redevelopment

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MHADA Revises Premium and Payment Rules for Redevelopment

The Maharashtra Housing and Area Development Authority (MHADA) has revised its 2007 redevelopment policy to make the redevelopment of ageing housing societies in Mumbai financially sustainable.The key change involves recalibrating premium charges for commercial floor space in projects under Regulation 33(5) of DCPR 2034. The new formula links premium rates to land value, market rate, and proposed usage, replacing the earlier rule that charged 1.5 times the residential rate for commercial areas.Developers’ body CREDAI-MCHI had sought parity between residential and commercial rates to encourag..