The usages of new tech and trends are now entering the Indian real estate market and builders are highly adapting this newness to every project they delivered. To understand how Technology in Real Estate impacts positively the housing market, let’s get to know more in detail.
Gone are the days of traditional property dealing because now we are in a phase where advanced technology making the home buying process simpler & easier. New technology is taking over the real estate industry, their best use in real estate makes a clear understanding of a property and helps the buyer to make a decision without facing any difficulties. Moreover, COVID 19 pandemic crisis changed the way of we living style, we all went/ followed the contactless life for more than a year. We became used to digital payment methods instead we had cash at that time, net banking, preferred online shopping, and all these processes became successful thanks to the availability of internet services and updated technology.
Additionally, this advanced technology brings new transformation tools like IoT, ERP, Robotic process automation (RPA), Analytics for decision mobility, and data science that can allow home buyers to have a closer look at their property. Further, advanced technology impact is highly visible amidst pandemic and all stakeholders, including developers, tenants, property owners, along with other sub-sectors like hospitality, retail, etc are taking the advantage of it.
It is predicted that its impact on real estate will stay longer. Because most of the developers provide online property tour visits which you can call a virtual tours. Buyers’ can book the property by paying digitally plus all privileges like builder buyer agreement, documentation work, and so on are occurring on internet services so the expectation is quite strong in this regard.
Technology in Real Estate Latest
Artificial Intelligence: Artificial intelligence and machine learning techniques turn raw data into actionable information and provide fast data to the user. In real estate AI is a platform where a robot can make you a tour of a home which you can call a virtual tour, not only this, it can answer your questions in real-time with chatbots, can give provide you predictive analytics & large amounts of data on concurrent events.
Augmented Reality: known as Virtual Reality, this is another advanced technology commonly used by builders. Thanks to aerial footage obtained from drones and 3D technology, create a virtual tour of the project or site for the home buyers, where they would no longer spend more time going to the site and checking the property.
Because of this, they can see the property by sitting at their home. The most advantageous thing about this technology is you can personalize the home with virtual furniture and take a look at the home. The VR experience becomes more immersive and sophisticated, it allows the home buyers to evaluate the space and help in making their decision regarding the property.
AR technology is gaining popularity in Indian real estate. Praveen Kumar Nandkumar, Director of Unishire, avers already popular in India for using this technology and spreading it to various industries. Various brands have used this technology on an experimental basis and gathered a positive response.
Cloud Services: This service provides a huge opportunity for real estate organizations and it is now becoming a priority. Above 80% of the top real estate performers are using this service to serve their clients’ best services. Real estate organizations rely on email, file sharing, data storage, web hosting and mobile application and all these actions can best perform in cloud services.
Virtual Tour: There are many virtual tour software available but in the industry 360-degree virtual software is used commonly by developers.
Mobile App: This is another commonly used commercial trend. Millions of applications are available on the internet from recipes to shopping and from traveling to home buying. We can get everything at our fingertips. There are several property portals that are providing online home booking services through the mobile app.
All you need to go to the play store and then download the home buying app, register it and follow the steps required there. You can get various property options based on location, price, services and configurations. Mobile App is handy to use at any time.
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