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Anarock To Launch AI-Based Proptech Solution To Boost Housing Sales Of Builders

Anarock Chairman Anuj Puri said the company began developing the ASTRA artificial intelligence models in 2019, configuring multiple models across different types of real estate projects across India.

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Homegrown housing brokerage firm Anarock on Tuesday said it will soon introduce a new artificial intelligence and machine learning proptech solution that has the potential to boost sales of residential properties by up to 15 per cent.

The proptech solution 'ASTRA', which has been developed in tie up with its data analytics partner G-Square Solutions, will be used by Anarock as well as its developer clients.

'The system's algorithm analyses customer behaviour data to yield highly accurate leads, thereby boosting marketing efficiency, reducing costs, and delivering an engaged user experience to developers and their customers,' Anarock said in a statement.

While Anarock will apply the basic ASTRA model as the firm's primary sales driver going forward, developers can invest in advanced bespoke versions customised to projects mandated with Anarock.

ASTRA will roll out for active commercial adoption by September 2021.

Anarock Chairman Anuj Puri said the company began developing the ASTRA artificial intelligence models in 2019, configuring multiple models across different types of real estate projects across India.

'Now in its final development stage, ASTRA will give developers a 20-fold return on their investment in this AI-driven platform,' Puri said.

Property consultant Anarock clocked an 18 per cent growth in its revenue at Rs 302 crore in the last fiscal year.

Besides housing brokerage, Anarock provides services in other segments of real estate, including retail (in partnership with Vindico), commercial, investment banking, hospitality (in partnership with HVS), land services, industrial and logistics (in partnership with Binswanger).

Besides, it provides services like investment management, research, strategic advisory & valuations and project management services (in partnership with Mace).

The consultant has a team of over 1,800 real estate professionals who operate across all major Indian and Middle East markets. 

(PTI)