The Indian PropTech and real estate marketplace operator Square Yards has filed no fewer than 18 international patents across the fields of virtual reality (VR), augmented reality (AR), extended reality (ER), artificial intelligence (AI) and data applications.
A press release did not specify the period of time that the patents had been filed across but did say that three of them have already been granted.
"By integrating AR, VR, XR, AI, and Data Applications into the real estate industry, we're pushing the boundaries of what's possible. We have always been an early adopter in the use of breakthrough technologies to enhance the real estate experience and look forward to creating unparalleled opportunities for consumers. These patents are a testament to our commitment to innovate, disrupt, and lead the digital transformation within the global real estate industry,” said Tanuj Shori, Founder and CEO, Square Yards.
Square Yards operates in its native Indian market where it competes with the likes of REA India, 99acres and Magic Bricks as well as in the Middle East and further afield in markets with a strong Indian ex-pat community such as Canada and Australia.
The company is a diversified PropTech business and real estate marketplace. For consumers, the company operates a core new homes listings service as well as an existing homes segment (Square Yards), a property management business (azuro), a renovations business (Interior Company) and a fintech offering (Urban Money).
On top of this, Square Yards also has a technology arm (PropVR) that specializes in developing real estate presentation technology and which is responsible for the filing of patents.
The three already granted are in the field of interactive 3d experiences for real estate, remote collaboration for customers to experience properties, and agent ranking algorithms.
Square Yards is one of many real estate portals to have released AI-powered product updates in 2023. Last month Chinese real estate portal operator 58.com announced that it would be unveiling a new AI-powered virtual reality product for users later in the year and British portal OnTheMarket announced an AI-powered voice search assistant.
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