Technological Advancements in Indian Real Estate Sector
From the Real Estate (Regulation and Development) Act (RERA) implementation in 2016 to the rapid technology growth, different trends are evolving the Indian real estate sector. The role of technology in our lives has significantly increased especially during the time of the global pandemic. Apart from that, you can’t deny the fact that the Indian infrastructure and real estate sector has grown because of technological developments. The innovations have brought some fundamental changes that are reshaping the industry’s future.
5 tech innovations that are giving re-birth to India’s Real Estate Sector:
1. Virtual and Augmented Reality:
Virtual Reality and Augmented Reality is being implemented in India and all over the world. Virtual reality is helping to boost the construction worker’s safety training, to provide enhanced visualization of the project to the customers, and to enable project managers and stakeholders to better imagine and properly plan the construction site – even for extreme conditions. With the help of VR/AR technologies integration, the builders and developers can design virtual walkthroughs to achieve more control over designs from the early stages time saving, effort, and cost.
2. Artificial Intelligence with Machine Learning:
Artificial Intelligence (AI) alongside Machine Learning (ML) is giving a different shape to construction everywhere across the world. There is no doubt in the fact that it is one of the most splendid and revolutionary advancements. This advanced technology is expected to disrupt the real estate sector in India. The integration of AI and ML is helping real estate players scrutinize and solve different variations of construction problems that may hamper the infrastructural progress.
3. UAV (Unmanned Aerial vehicles):
With the projection of USD 885.7 million by 2021, the Indian UAV market is one of the fastest adopters of UAVs (Drones) globally. In India use of this technology has been increased over the last couple of years. This technology is further expected to grow because it is cost-effective, quicker, and enables safer construction to build buildings in the future. Drones will help the developers to map a site and to create the images in 2D and 3D. They will also be helping in sketching precise measurements based on coordinates.
4. Robotics:
The real estate industry is looking forward to adopting robotics in various construction work processes like brick-laying. This thing will not only reduce labor costs but also help in improving quality and bringing precision to the real-estate project. SAM (semi-automated mason) is the first commercially built brick-laying robot currently. It can boost the efficiency of the project up to fivefold when incorporated in partnership with workers.
5. Light Gauge Steel Framing Structures and Modular Construction:
Another significant disruptive breakthrough in the Indian construction area is the adoption of LGSF structures and modular construction. They have boosted up the overall construction time in every segment – industrial, commercial, and residential. However, this technology’s current demand is comparatively less with traditional construction methods.
Way Forward
The Indian Real Estate sector is not insulated from the impact of the new technology anymore. Besides that, the traditional ways of construction are also changing drastically. Players of the industry need to evolve and innovate themselves to survive and thrive in the impending future.
