The Indian Real Estate sector is no more insulated from the impact of the new age technological developments as the traditional ways of construction are changing at a very drastic speed as the developers are becoming agile to save cost and time and offer more robust structures that stand against the test of harsh conditions.
The Indian Real Estate sector is no more insulated from the impact of the new age technological developments as the traditional ways of construction are changing at a very drastic speed as the developers are becoming agile to save cost and time and offer more robust structures that stand against the test of harsh conditions.
From the advent of the Real Estate (Regulation and Development) Act (RERA), 2016, to the rapid technology growth, various trends are shaping the Indian real estate sector in the last few years. During the global pandemic, the role of technology in our lives has significantly increased, and there is no denying the fact that the Indian infrastructure and real estate sector has made inroads with a multitude of technological developments and innovations that are bringing about some fundamental shifts that will reshape the industry’s future.
Here are 5 tech advancements that are giving re-birth to India’s Real Estate Sector:
1. Virtual and Augmented Reality: To boost construction worker safety training, to offer enhanced visualization of the project to the client, and to enable project managers and stakeholders to better imagine and properly plan the construction site – even for extreme conditions, Virtual Reality and Augmented Reality is being adopted in India and around the world. By integrating VR/AR technologies with Building Information Modeling, the builders and developers will be able to design virtual walkthroughs to have more control over designs from the early stages and save time, effort, and cost.
2. Artificial Intelligence with Machine Learning: Artificial Intelligence (AI) alongside Machine Learning (ML) is changing the face of construction everywhere across the world and is one of the most impressive and revolutionary advancements expected to disrupt the real estate sector in India in the current times. 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 India is amongst the fastest adopters of UAVs (also known as Drones) globally. The use of this technology has expanded over the last couple of years in India. It is further expected to grow because it is cost-effective, quicker, and enables safer construction to build futuristic buildings. Drones will enable developers to map a site and build images in 2D and 3D and may also help in sketching precise measurements based on coordinates.
4. Robotics: The real estate industry is moving towards the adoption of robotics in various construction work processes such as brick-laying, which will not only reduce labour costs drastically but also improve quality and bring precision to the project. Presently, SAM (semi-automated mason) is the first commercially built brick-laying robot available to improve the efficiency of the project up to fivefold when incorporated in partnership with human masons.
5. Light Gauge Steel Framing Structures and Modular Construction: One of the significant disruptive breakthroughs in the Indian construction space is the adoption of LGSF structures and modular construction, as they have sped up the overall construction time in every segment – industrial, commercial and residential. Though the current demand for this technology is comparatively less with traditional construction methods, but the advent of the pandemic has given a massive push as it enabled the setting up of hospitals, COVID-19 testing centers, and other such required facilities within a short span of time.
The Indian Real Estate sector is no more insulated from the impact of the new age technological developments as the traditional ways of construction are changing at a very drastic speed as the developers are becoming agile to save cost and time and offer more robust structures that stand against the test of harsh conditions. Several players in the industry will have to evolve and innovate their offerings or form strategic alliances to survive and thrive in the impending future.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.
