Transformative Technologies Boosting Real Estate & Construction

At a time when India is undergoing rapid urbanisation, integrating technologies like AI and IoT will help in faster and better planning and designing of smart, tech-enabled cities.
Vinod Behl

Technology is transforming the real estate space by easing and streamlining processes for all stakeholders across different stages of the market. Due to the severe disruption caused by the pandemic, the sector is now more than ready for adoption of technology across the supply chain, enabling market accessibility, efficient and transparent operations, speedy delivery, and enhanced customer experience. As such, the stakeholders have realized the value addition of technology in real estate asset lifecycle and digital disruption is being increasingly looked at as the future of real estate sector, including construction.

Ankit Kansal, MD, 360 Realtors, believe that post-Covid, the impact of digitisation has been profound and will continue to be so. “More opportunities for tech-based innovations and augmentations are waiting to be explored. From the ambit of construction technologies to home automation, IoT or AI, tech-enabled marketing, possibilities are endless,” he says.

Construction technology has proved to be a boon for the real estate industry in speeding up projects completion and delivery of homes, especially as thousands of housing projects with lakhs of units are delayed or stalled. Real estate and construction companies are increasingly taking to pre-cast technology to cut both time and cost of construction. Developers like Supertech have set up their own precast units to deploy this cost-effective and environment-friendly technology in their projects.

Technology driven offsite pre-cast construction companies like Katerra are offering next generation construction technology. According to Najeeb Khan, Head, Design and Brand Strategy, Asia and Middle East, Katerra, their factory manufactured and assembled solutions come with the highest quality in design production and finish, eliminating many of the problems associated with conventional onsite construction. This technology also delivers 100% offsite manufactured bathroom pods that merely have to be plugged into designated areas on a floor plate. The Vaishnavi Group, according to its CMD, CN Govindaraju, used Katerra technology along with design for manufacturing and assembly, ensuring 50% faster completion time to deliver the project 18 months before deadline.

Tech-enabled construction companies like Brick & Bolt have come up with a solution that serves as a design to build platforms, taking care of material procurement, project execution and timely delivery. Says Jayesh Raj Purohit, Co-Founder & CEO, Brick & Bolt, “Our custom project management software simplifies and automates construction, and enables predictability and monitoring of the cost process at every stage. Besides ensuring quality and timelines, our supply chain application aligns material supply to the quantities and schedules as per the project plan.” The company has also built an escrow arrangement with contractors, releasing milestone payments to check disputes related to payments.

Precast technology also helps in substantial saving on materials, besides which, the technology is enabling the real estate and infrastructure sectors in achieving high quality, durable and environment-friendly construction. The upcoming Delhi- Mumbai Expressway is using the new Stone Mastic Asphalt (SMA) technology to make the highway smoother and durable, and not requiring any strengthening in its entire life cycle. The laser technology ensures strong joints to provide a smooth road.

Precast technology is especially beneficial for high-rise, mass-scale affordable housing projects. Affordable housing players like Signature Global, the Gaur Group and Supertech, are using this technology. Signature Global has attained cost and time efficiency with Aluminium Formwork technology, besides improving quality of living with health benefits through use of green building (IGBC gold rated) technology. Says Pradeep Aggarwal, Founder & Chairman, Signature Global, “The property markets in India need transformative technologies for building design and construction. For construction of mass housing, economy of scale needs to be achieved. Here, pre-cast construction is handy in providing both quality and speedy construction.”

The Union Housing Ministry has launched Global Housing Tech Challenge India (GHTC India) aimed at using modern technology and innovative processes that reduce construction time and make more durable, affordable and comfortable houses.

Mani Rangarajan, Group COO, Housing.com, Makaan.com and Proptiger.com, believes that the coming times will see increased adoption of technology in procurement, design and planning, property management, financing and other segments of the real estate value chain. “This transformative shift with technology penetration is set to increase multifold in times to come as it will facilitate speedier and more efficient work from land acquisition to asset management.”

The writer is Editor, Proptoq, a real estate magazine.
Launched in October 2021, the GIS- based Gati Shakti platform captures all utilities and network linkages in making it possible for various infrastructure focused ministries and departments to come together and take a coordinated approach towards faster

Read more ...

According to the latest Infrastructure report by Motilal Oswal Financial Services, 1H FY23 has been muted with only 810 kms of projects awarded till date. Owing to the weak 1H, NHAI would have to accelerate project awarding in 2H FY23 in order to meet its

Read more ...

Development of Gabion Wall (700m length, max height of 34m, and average height 25m Length) on east side of East Cell Red Mud Pond (RMP), including Design, Vetting, and SPCB Approval for Vedanta, Odisha. Due to space constraint, client wanted to construct soil

Read more ...

The National Logistics Policy (NLP) aimed at developing a technologically enabled, integrated, cost-efficient, resilient, sustainable, and trusted ecosystem for accelerated and inclusive growth, is giving a push to real estate and infrastructure

Read more ...

CBRE South Asia released its ‘Indian Realty – charting the growth roadmap for 2022’ report at CII Realty 2022 - 18th Edition of Conference Real Estate. The CBRE-CII joint report highlights key trends and projections for the Indian Real Estate sector for 2022

Read more ...

ICRA has conducted a study of 1201 Build-Operate-Transfer (BOT) road projects which have defaulted during the period FY2011 – FY2022. Out of the 120 projects, 86 have defaulted during the operational phase while 34 projects defaulted during

Read more ...

At a time when most traditional investment fields are yielding low returns, InvITs are emerging as a brilliant investment option for people looking for a diverse portfolio and who wish to stay invested for the long term. Nitan Chhatwal, MD, Shrem InvIT

Read more ...

The post-covid residential sales momentum is set to get a further boost in this festive season, notwithstanding headwinds in the form of rising interest rates and increase in home prices. Here are the Top 10 trends that will help drive festive home demand

Read more ...

Over the last 75 years of India’s Independence, the real estate sector has come a long way from an unorganised, unregulated family business to a corporatized, well-regulated, reformed, transparent, responsible, and future-ready industry. Vinod Behl

Read more ...

Real estate investments register strong capital inflows, reach USD 3.4 billion in H1 2022. Foreign investors accounted for over 67% of total investment volume in Q2 2022. Office sector dominated investment activity with a share of about 57%

Read more ...

A mega land monetisation plan through sale of surplus government and PSUs’ land is a part of Modi government’s ambitious National Monetisation Programme (NMP) to generate Rs 6 lakh crore of revenue over FY 2022-25. The success of this programme will depend

Read more ...

Buildings offer a huge opportunity to minimize energy consumption by merely changing the manner in which they are planned, constructed and operated. Jit Kumar Gupta, Retired Urban Planner, Advisor Town Planning, Punjab Urban Development Authority

Read more ...

The recent headwinds in the form of higher cost of construction and interest rates may only have some short-term impact on the recovery of the real estate sector, post-covid. The mid to long-term growth prospects, however, remain intact due to strong fundamentals

Read more ...

India’s infrastructure outlook over the next decade presents a bright picture. It is lined with attractive government schemes and a pipeline of major projects - supported by significant funding and financing. For construction equipment manufacturers

Read more ...

Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, elaborates on what is re-igniting the growth of India’s real estate industry, which is being driven by demand in the residential, commercial, and warehousing space

Read more ...

In FY 23, strong and favourable developments are anticipated to continue in the Indian real estate market, supported by a strong structural base, increased demand, and decreased house loan rates, says Harsh Vardhan Patodia, National President, CREDAI

Read more ...

Increasing demand across residential, commercial, warehouse and office spaces, is driving sales, even as developers contend with the upsurge in construction costs due to the hike in raw material costs. Developers are also going digital - from project conceptualisation and designing

Read more ...

The real estate sector, especially the residential segment, which showed great resilience against the Covid pandemic to register a smart recovery, is now facing a double whammy. The long-drawn Ukraine-Russia war has led to a sharp increase in

Read more ...

Cities are a product of interactive life forms; they have multi-pronged dimensions involving people and other life forms, with dynamic interactions. Due to such dynamics and the complexity of ever-changing interactions, smart cities cannot be

Read more ...

Er. Vivek Abhyankar writes on the amazing architecture and planning, structural design, and performance, of many forts in India, along with their brief history, type, components, functioning, planning, and construction methodology

Read more ...

×
Sign-up for Free Subscription
'India Construction Week'
Weekly e-Newsletter on Construction Industry
Get the latest news, product launches, projects announced / awarded, government policies, investments, and expert views.
Click here to subscribe.