Generative Artificial Intelligence (GenAI) could emerge as a major growth catalyst for India’s real estate sector, adding between $14 billion and $17 billion to the industry’s Gross Value Added (GVA) by 2033, according to a joint report by EY Parthenon and CREDAI.
The report highlights how AI is moving beyond the technology sector and finding practical applications across one of the country’s largest industries. From project planning and sales to customer engagement and operations, developers are increasingly exploring AI-driven tools to improve efficiency, accelerate decision making and enhance profitability.
According to the study, GenAI has the potential to increase sales velocity by 30 per cent to 50 per cent by helping developers identify high-intent buyers, personalise customer interactions and improve lead conversion rates. AI-powered assistants can engage prospective homebuyers around the clock, answer queries in real time and streamline the customer journey from enquiry to booking.
The technology could also help shorten project launch timelines by 20 per cent to 30 per cent. By automating tasks such as market research, feasibility analysis, document processing and project planning, developers can reduce delays and bring projects to market faster.
Beyond sales and project execution, AI is expected to play a growing role in property management, customer service and predictive analytics. Developers can use AI to analyse market trends, forecast demand patterns and optimise pricing strategies. The technology can also improve operational efficiency by automating routine processes and generating actionable insights from large volumes of data.
The findings highlights a broader trend of AI adoption across traditional industries. While sectors such as banking, telecom and information technology have been early adopters of AI, real estate is now emerging as a significant new frontier for the technology.
India’s real estate market has witnessed strong growth in recent years, driven by urbanisation, rising incomes and infrastructure development. As competition intensifies, developers are looking for new ways to improve productivity and customer experience. The EY Parthenon-CREDAI report suggests that GenAI could become a key enabler of this transformation, helping the sector unlock billions of dollars in additional economic value over the next decade.
For property industry, AI may soon become as important as location, capital and construction expertise in determining future growth.
