The Indian Real Estate Sector is no longer immune to the impact of new technological developments as traditional construction methods are changing at an alarming rate and developers are quick to save costs and time while shaping robust buildings that resist difficult testing. From the advent of the Real Estate Act to the rapid growth in technology and innovation, various styles have shaped the Indian real estate sector over the past few years. During the pandemic time, the role of technology in our lives has grown exponentially, and there is no denying the fact that India’s infrastructure and the commercial property in Gurugram and other metro cities have undergone many technological advances and innovations that will rebuild the future of the industry.
- Virtual and Augmented Reality: To boost construction workers’ safety training, to offer an improved conception 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 combining VR / AR technology with Building Information Modeling, builders and developers will be able to design virtual ways to further control construction from scratch and save time, effort, and cost.
- Artificial Intelligence: Artificial Intelligence (AI) is transforming the construction environment all over the world and is one of the most exciting developments and changes expected to disrupt India’s Real Estate sector in modern times. . The integration of AI and ML helps realty players to explore and solve a variety of construction issues that could hamper infrastructure progress.
- Light Gauge Steel Frames and Modular Construction: One of the major obstacles to Indian Real Estate is the adoption of LGSF buildings and model construction, as it has accelerated full construction time in all sectors – industrial, commercial retail property, and residential developments. Although the current demand for this technology is small compared to traditional construction methods, the arrival of the pandemic has provided significant impetus as it has enabled the establishment of hospitals, COVID-19 testing centers, and other necessary facilities in a short period of time.
- Internet of Things: The real estate and the Internet of Things create, not surprisingly, a perfect combination. Being a system of sensor-enabled devices, it collects, analyzes, and uses digital data. Likewise, effective data usage has become a global competitive advantage. The emerging smart construction is greatly encouraged by the use of the Internet of Things.
The Conclusion
The future of real estate will be driven by the above-mentioned pointers. These highlights can be seen by the buyers, tenants, and most importantly owners of commercial retail space in Gurugram in the year 2021. However, it is fair to say that mapping the future of one’s plan is much easier if there are specific recommendations to follow. Of course, we have not touched on all the innovations but the ones mentioned are a good choice to make for smart development.
