Blockchain Technology in the Real Estate Sector at Karnataka: Awareness and Application
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Blockchain Technology in the Real Estate Sector at Karnataka: Awareness and Application
Shreya Jakati
PGDM23042 Student Dayananda Sagar Business School, Kumaraswamy Layout, Bengaluru, 560111, shreya@dsbs.edu.in
Yeshwanth T N
PGDM23059 Student Dayananda Sagar Business School, Kumaraswamy Layout, Bengaluru, 560111, yeshwanth5206@gmail.com
Dr. Parul Tandan
Associate Professor Dayananda Sagar Business School, Kumaraswamy Layout, Bengaluru, 560111, parul@dsbs.edu.in
Abstract:
This study investigates the awareness and application of blockchain technology in Karnataka's real estate sector. Real estate in India is often plagued by inefficiencies, fraud, lack of transparency, and manual documentation. Blockchain technology, known for its decentralized, secure, and tamper-proof system, offers solutions for these problems. The research collected primary data from 150 respondents across Karnataka comprising real estate developers, agents, brokers, and buyers. Results showed varying levels of awareness and understanding, perceived benefits such as improved title verification and transaction transparency, and key barriers like regulatory uncertainty and technical limitations. The paper recommends collaborative action between government, tech companies, and real estate stakeholders to implement blockchain effectively.
Keywords: Blockchain, Real Estate, Karnataka, Title Verification, Smart Contracts, Fraud Prevention, Land Records
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