Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty

2019 is the year for affordable and mid-segment housing as there is an inventory pile up of luxury property. Demand in the coming years will be consumption driven and not investor led. Thus, improvement in planning and quality of construction, service delivery and after sales will be the order of the day.

Pritam Chivukula
Opportunities

The Infrastructure sector is expected to contribute 15% to the Indian economy by 2030. It enjoys intense focus from the government, with policies to ensure time-bound creation of world class development across the country. Public Private Partnerships (PPP) in the sector have increased and are expected to grow further. The government has initiated several projects such as Smart Cities, Housing for All, Bharatmala etc, which have opened the floodgates for large investments and opportunities for foreign investment in areas such as technologies and solutions for Affordable Housing, Smart Cities, Integrated Townships; Green building materials, construction of Air and Shipping Ports, Highways, etc. The government’s flagship scheme PMAY launched in June 2015 aims to build 20 million urban homes and 30 million rural houses by 2022. Hundreds of new cities need to be developed over the next decade. To achieve these targets, policy reforms such as the RERA, GST, REITs, etc. have been put in place to reduce approval delays and strengthen the real estate and construction sectors.

Challenges

Political willingness, lengthy administrative procedures, land acquisition, lack of skilled labor, increase in material cost, technology adoption, environment sustainability, funds for project completion are some of the major areas that need to be addressed while implementing projects.

Framing of policies that are favorable to the sector depend upon the government and help in guiding it in the right direction. Most contractors face the daunting task of finding land for construction. Skyrocketing costs of land and increase in material cost have resulted in escalating property prices.

The construction industry offers ample opportunities for employment but most of them are in the low wage category and come from rural areas, and therefore, contractors follow traditional work practices. This results in reduced efficiency and increases the risk factor. There is a definite need for skilled workforce and qualified professionals.

Aranya ElevationTridhaatu Aranya, Chembur and mention artist impression
Implementation of GST has put a burden on most of the materials used in the construction industry, especially in the high-end category, which fall under the 28% GST slab category. International investments into the sector have seen a shift in the way buildings are being constructed. Virtual Reality, AI security, and BIM are transforming the commercial and housing sector. Many developers are adapting to the latest building technology to have an edge over competitors.

Environmental sustainability is a burning issue with global implications, and especially so in India where traditional methods of manufacturing and construction are used even today. New environment friendly policies coupled with the latest building technology and skilled manpower will help in creating sustainable environments.

Software & Technology

Many projects fail due to lack of planning and ineffective project management. However, the construction industry is at the threshold of a new era with rapidly evolving technology in areas of planning, designing and execution. The real estate industry also is no longer confined to a brick-and-mortar structure. There is a positive shift with developers looking for ways to offer value to customers by way of healthier environments.

Tridhaatu Morya Elevation

At Tridhaatu, we are bringing in more efficiency and accountability, and reducing construction and operational costs using new technology and tools to enhance productivity at site, keeping track of the team’s performance in real time, and monitoring the project’s progress with respect to its schedule, quality control, and budget. We are using BIM for accurate quantity estimation, NESSO for document control and project report, and SAP for billing and contracts.

Artificial intelligence & IoT

Wifi-enabled home automation, motion sensor-based lighting, security management and app-based appliance control are becoming part of new developments, especially in metros. Customers are looking for automated solutions to make life easier. For instance, a smart HVAC system at home will sense the ambient temperature and the owner’s schedule and automatically start before he/she enters the house. Similarly, a smart security system will sense and analyze regular activities in the house and notify the user of any irregularities.

Some of the tangible applications of IoT in construction industry include preventive maintenance which reduces costs of repairs and downtime; offers forecasts, data-driven choices, reduces manual processes and paperwork, and eliminates inaccuracy. IoT solutions help deliver leaner ways of operation; alerts are sent out when resources begin to run out; trailing tags on shipments and trucks help locate the capital materials and other deliveries in case of lost or misdirected resources. An IoT based security system monitors materials and detects vandalism and thieving at building sites, or losses when materials rust or burn due to exposure or mishandling, and sends alerts in case of any smoke or water. Companies can use IoT for tracking labor hours at construction sites and in case of an emergency, track workers at site to evacuate them safely.

Order Book

India is at a stage of inflection and is poised for rapid growth over the next 15-20 years. The real estate sector has undergone a drastic structural change with the introduction of RERA and GST. 2018 was an eventful year for Mumbai’s housing sector. Due to a prolonged slowdown property prices have stabilized and come down to more realistic levels. This has set a level playing field for both genuine buyers and sellers.

2019 is the year for affordable and mid-segment housing as there is an inventory pile up of luxury property. Demand in the coming years will be consumption driven and not investor led. Thus, improvement in planning and quality of construction, service delivery and after sales will be the order of the day.

Tridhaatu is developing around 18 residential projects in Mumbai, and has plans to launch residential projects in Byculla, Matunga, Chembur etc. With MahaRERA in full force, we are optimistic about the road ahead and are confident that the momentum gained during 2018 will carry through 2019-20.
NBM&CW July 2019
Trimble: Revolutionizing Construction Projects with Smart Technology

Trimble: Revolutionizing Construction Projects with Smart Technology

With its smart technology, Trimble is helping contractors manage construction projects on time, improve equipment efficiency, bring higher productivity, worker safety, and complete project economically with desired quality.

Read more ...

Terex Brand Finlay: Application-Driven Crushing & Screening Solutions

Terex Brand Finlay: Application-Driven Crushing & Screening Solutions

Alan Witherow, Product & Applications Manager, Finlay in an interview with P.P. Basistha on the sidelines of Texcon 2023, informed that Finlay, a Terex product brand, is working towards making the crushing and screening solutions more

Read more ...

Jaso India Prioritising Customer's Satisfaction with Reliable Cranes

Jaso India Prioritising Customer's Satisfaction with Reliable Cranes

“Our cranes are designed as per FEM regulations and are equipped with all the necessary safety features required for safe operations. Our aim is to be trusted and reliable material lifting partner for our customers.” Vishal Sharma, Managing Director

Read more ...

Agrani Enterprises Waterproofing Infrastructure for Longevity & Safety

Agrani Enterprises Waterproofing Infrastructure for Longevity & Safety

“Embracing technological advancements can ultimately lead to more efficient and cost-effective construction practices. This is because the integration of technology in construction companies, particularly in waterproofing, repair, and retrofitting

Read more ...

3D Concrete Printing Workshop with Live Demos

3D Concrete Printing Workshop with Live Demos

Advances in robotics, materials science, and digital design have paved the way for the development of sophisticated 3D concrete printing systems capable of constructing large-scale structures with precision and efficiency. Dr. Vishal Thombare

Read more ...

Jal Shakti Restoring Water To The People of India

Jal Shakti Restoring Water To The People of India

Shri Gajendra Singh Shekhawat, Union Minister, Jal Shakti, shares with S.A.Faridi & Maria R, the challenges and initiatives being taken by the ministry towards effective water management and availability of safe drinking water for India’s burgeoning

Read more ...

Dam Safety Society: Scientific, Technological & Systematic Management

Dam Safety Society: Scientific, Technological & Systematic Management

Dams are critical infrastructure for storing water for a variety of uses like drinking, irrigation, power generation, industrial, domestic, and recreational uses. Managing the precious water assets requires systematic management and

Read more ...

Powerscreen: Strong & Reliable Electric & Hybrid Crushing Machines

Powerscreen: Strong & Reliable Electric & Hybrid Crushing Machines

Powerscreen is actively engaging with its customers to glean information on their job requirements and suggestions, and accordingly making enhancements in its products like Electric & Hybrid Crushing Machines, making them more

Read more ...

Sany India: Batch Mix Plants, Excavators, Cranes & Pilig Rigs

Sany India: Batch Mix Plants, Excavators, Cranes & Pilig Rigs

This achievement is a testament to SANY India’s commitment to provide high–quality, reliable and innovative equipment to the Indian market. Surpassing 30,000 machines operating across India fills us with immense pride. This significant milestone

Read more ...

Paving The Way for More Efficient And Timely Construction & Manufacturing Processes

Paving The Way for More Efficient And Timely Construction & Manufacturing Processes

Transformation of the infrastructure industry is vital for mitigation of climate challenges and the Blue-Green infrastructure offers a sustainable and self-healing solution for the problem at hand, informs Nikhil Jain, CEO, Qubik Group

Read more ...

MCOS Global: Solutions to Reduce Project Delays & Achieve Sustainability

MCOS Global: Solutions to Reduce Project Delays & Achieve Sustainability

Subhashis Kar, Managing Director, MCOS Global presents possible solutions and measures to effectively reduce delays in infra construction projects and bring sustainability in urban developments. MCOS Global is a prominent player

Read more ...

EXCON 2023: Showcasing Construction Industry’s Resilience and Vibrancy

EXCON 2023: Showcasing Construction Industry’s Resilience and Vibrancy

I am sure that a lot of excitement and enthusiasm is building up for the coming week when EXCON 2023, one of the largest construction equipment and technology trade fairs in the world, will open its door to welcome all the

Read more ...

Shri Gadkari discusses on road construction policies, technologies, challenges

Shri Gadkari discusses on road construction policies, technologies, challenges

In a prelude to EXCON 2023, Hon’ble Minister Shri Nitin Gadkari, Ministry of Road Transport & Highways, Government of India, discusses with S. A. Faridi,Group Managing Editor, various aspects of road construction including policies

Read more ...

ICEMA: equipment industry growth prospect, challenges, training etc

ICEMA: equipment industry growth prospect, challenges, training etc

V. Vivekanand, President - ICEMA and Managing Director - Caterpillar India, shares his views on the growth prospects of India’s construction equipment industry and the need for it to embrace higher technology standards to solidify its position

Read more ...

BAI working on construction technologies, sustainability, standardization

BAI working on construction technologies, sustainability, standardization

According to S. Narsimha Reddy, President, Builders’ Association of India, modern construction technologies, use of sustainable building materials and standardisation are important for achieving project completion timelines

Read more ...

COAOI creating favorable environment for crane rental companies

COAOI creating favorable environment for crane rental companies

COAOI engages with the government and relevant stakeholders to promote a more conducive business environment so that crane rental companies can operate efficiently and contribute to the nation’s infrastructure development while maintaining safety

Read more ...

CERA: rental co. instrumental in construction equipment industry growth

CERA: rental co. instrumental in construction equipment industry growth

Rentals are paving the way forward for the construction equipment industry, and to ensure long-term resilience and growth, we are championing initiatives like unity, standardization, and commitment to fair practices

Read more ...

JCB India: Hi-tech Excavators, Telehandlers, Backhoe Loaders & AWP

JCB India: Hi-tech Excavators, Telehandlers, Backhoe Loaders & AWP

JCB is a leading construction equipment manufacturer with a comprehensive range of products that include mini excavators, skid steer loaders, telehandlers backhoe loaders, access platforms, compactors, excavators

Read more ...

Volvo CE: Time-Tested Excavators, Compactors & Asphalt Pavers

Volvo CE: Time-Tested Excavators, Compactors & Asphalt Pavers

Volvo CE started its India operations in 1998 to manufacture crawler excavators, soil compactors, and asphalt pavers. In 2022, it introduced time-tested quality machines like the EC300DL BH, custom-built for quarries, and Volvo EC480D

Read more ...

Wirtgen: Advanced Road Construction, Crushing & Screeing Equipment

Wirtgen: Advanced Road Construction, Crushing & Screeing Equipment

With its various product brands WIRTGEN, VÖGELE, HAMM, KLEEMANN and BENNINGHOVEN, the WIRTGEN GROUP covers the entire road construction process chain from processing, mixing, paving, compacting, and road rehabilitation to

Read more ...

To get latest updates on whatsapp, Save +91 93545 87773 and send us a 'Saved' message
Click Here to Subscribe to Our eNewsletter.