Technology in Real Estate

The Internet has reshaped how real estate is delivered to the consumer and how we as consumers manage our daily lives. Construction technology is swiftly sprouting in the Indian real estate market. The real estate and construction industry uses a number of off-the-shelf and custom-made IT solutions. Computer-aided-design tools, animation and visualization tools, project management software, geographical information systems, financial modeling software, back-end tools for accounting and payroll, and other business software tools are regularly being used by organisations in this sector.

The exponential growth in the real estate development comprising of the high-rise buildings have been observing a long growth period largely due to the current conventional construction system being extremely time consuming and costly. These continuous delays resulted in increase in cost which was borne by developers who eventually passed on the burden to the customer. Aluminium wall formwork, commonly known as MIVAN technology is tremendous substitution to the conventional technology with striking advantages of quality, time & requirement of skilled resources. This technology is being adopted by most developers as it saves time for both, the buyer and the seller. It allows the developer to have more control and therefore the ability to forecast the speed of construction, allowing him to confidently deliver the project within the promised timeline. An extension of the structural load-bearing walls and flat slab system is the pre-cast technology wherein various modules of the structure are cast off-site in factories and then assembled on the site. This technology is mainly suited for low rise value homes as it provides a structural framing of load bearing walls & solid slabs ideally suited for residential apartments.

Change is inevitable in the real estate industry. The new age developers are providing the required momentum to these new technologies in turn providing the much needed character to the construction industry. With professionalism on the rise there is more and more emphasis given to quality consciousness and timely delivery of projects giving drive to the switch from conventional to innovative methods. In order to ensure that there is a conscious movement from the conventional to the unconventional methods, unskilled to skilled labour, time saving and superior quality output, there needs to be a greater application and acceptance of these technologies by various developers across India