The Evolution of PropTech in India

A Close Examination of NoBroker’s Rise and Challenges

Abstract

India’s real estate landscape stands at an inflection point as technology-driven business models, known broadly as property technology (PropTech), increasingly define how properties are bought, sold, or rented. Historically, real estate in India was largely an unorganised sector, hindered by opaque transactions, unverified listings, and high brokerage fees. Yet, the rapid growth of digital platforms indicates a shift toward transparency and efficiency. According to a Knight Frank India report, the top eight Indian cities have seen a steady upswing in real estate transactions over the past decade, underscoring both pent-up demand and the influence of technology on consumer behaviour.

While PropTech solutions range widely—from online listing portals to co-living arrangements—one of the most emblematic cases is NoBroker, a platform that removes traditional brokerage barriers by directly connecting property owners with buyers and tenants. Yet, NoBroker’s journey was punctuated by direct confrontations with brokers, a complicated regulatory environment, and the challenge of sustaining long-term profitability. The company’s trajectory illustrates not only the potential of PropTech but also the persistent structural issues that continue to shape the real estate sector in India.

This case study offers a deeply analytical look at how PropTech has evolved in India, highlighting NoBroker as a critical study in disruption, growth, and ongoing challenges. By weaving together insights from regulatory changes, customer-centric technology, and the emergence of new capital sources, this discussion aims to provide a balanced view of India’s PropTech evolution.