India has established itself globally as an emerging market. Various sectors in the country are gearing up to adopt modern and cutting edge innovations keeping up with global standard. One sector that needs to bring in technological advancement is real estate, with rapid urbanization, growing young population and mass exodus to cities rapid changes are required in the sector. Additionally government initiative likes Smart Cities Mission and Housing for all in 2020 are sure to push demand even further making it essential that the sector incorporates modern technology.
Technology is a key enabler that helps in simplification of operations and reduces turnaround time. In real estate, use of technology can led to cost-effective projects while ensuring efficient utilization of labor. Even in case of mass housing developments, technology helps in improving the quality of construction, while cutting a project’s construction time extensively some ground-breaking technologies that have improved the construction space in real estate include precast, hollow pre-fab, block masonry, plasswall etc.
Another important factor is that technology enables sustainable development. Precast technology, for example, apart from reducing the duration of construction, cost and improving the quality of the final output is adaptable and resilient. Precast is produced only under strict quality measures in a factory by highly trained professionals with little wastage. Precast panels can be rapidly erected on the site with negligible interruptions and saves energy. It also makes it possible for designers to cut down on heating and air conditioning costs associated with HVAC systems and at the same time, keep building occupants comfortable.
Technology also helps in enabling eco-friendly construction. Most people are increasingly aware of the changing environment and thus prefer buying projects that have a low carbon footprint. Developers nowadays are careful to follow the green standards, in design and architecture, water conservation, use of renewable energy, and sewage and garbage processing. Technology can be used in almost all the basic amenities of a home to create energy utilization. So you toilets that uses minimal water in flushing, plumbing that makes provisions for separate lines for drinking and flushing, used water treatment for gardening, efficient insulation in the walls, ceilings and floors enables better temperature control among others, lighting based on movement etc.