Anarock to launch AI-driven platform to boost housing sales
The system crunches data of micro-market catchment dynamics, local price sensitivity, historic sales trends, and the impact of upcoming infrastructure and local policies
Hyderabad: Anarock, a real estate services company, will soon launch what is claimed to be India’s first artificial intelligence & machine learning (AI/ML) PropTech solution Astra to boost primary housing sales for developers by up to 15 per cent. Astra will roll out for active commercial adoption by September.
Developed over two years by Anarock and its data analytics partner G-Square Solutions, Astra expects to accelerate housing sales and enhance revenue turnover by 12-15 per cent. The system’s algorithm analyses customer behaviour data to yield accurate leads, thereby boosting marketing efficiency, reducing costs, and delivering an engaged user experience to developers and their customers.
Anuj Puri, chairman, Anarock, said, “We began developing 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.”
On the value addition the platform brings, Sunil Mishra, group chief strategy officer, Anarock said, “To put it in numbers – when used by India’s top players (developers) who command 50 per cent of market sales share, Astra will increase sales by at least 10 per cent. The additional 12,500 units thus sold will add Rs 6,000 crore of additional turnover annually.”
Astra is built on consumer behaviour data from 2.8 million of Anarock’s own qualified leads and uses 74 different models to fit different sizes of real estate projects in various stages of completion, across various cities.
Gurpreet Singh, director, G-Square Solutions, said, “Developers retain complete control of their leads data. The system does not require customer contact details to analyse leads – rather, it crunches data of micro-market catchment dynamics, local price sensitivity, historic sales trends, and the impact of upcoming infrastructure and local policies. By increasing site visit footfalls and boosting market-led cash flows, Astra also reduces developers’ cost of debt.”
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