5 Technologies transforming the Indian real estate market

As a part of sales strategy, the Indian real estate sector is today opting many innovative technologies to woo prospective home buyers. These state-of-the-art methods include more convincing user experience, getting in touch with the customers within seconds, 3-D Technology etc.

5 Technologies transforming the Indian real estate market

Img : hindustantimes

Take a look at the five technologies that have completely transformed the landscape of the Indian realty market:

Virtual Reality

Virtual reality is a three-dimensional, computer-generated experience taking place within a simulated environment. One can experience VR technology with the use of virtual reality headsets or multi-projected environments, sometimes in combination with physical environments to generate realistic images, sounds and other sensations that simulate a user’s physical presence in a virtual or imaginary environment.

However, in the Indian real estate, these days the use of virtual reality is on its peak as it helps to generate reality out of an imagination for a flat, building or even an entire city. Many top real estate companies these days are investing in this technology to meet the demands of tech-savvy homebuyers. It not only increases personal experience of the buyer but also has extensive reach and enhanced buying experience.

Artificial Intelligence

Artificial Intelligence or AI has removed the dependency of people on the middlemen hence saving them from paying hefty brokerage fee while looking for rental property. Also, technology has transformed buildings and their management. Many real estate companies and reputed realtors across the country have come forward and integrated AI systems into their existing infrastructure. The development of Automated home is the perfect example of Artificial intelligence.

Apart from this, data analysis, interactive chatbots, and machine learning are other important functions of AI that is helping property developers in wooing lots of prospective clients.

Smart Building Technology

A smart building is an integration of building, technology and energy systems. These systems may include building automation, life safety, telecommunication, user systems, and facility management. In smart buildings, all the systems of the building run over Ethernet or IP to allow people, systems, and objects to interact innovatively.

In the current real estate landscape, buildings are incorporating more and more technological advances like Lighting controls and sensors, optimized HVAC systems, advanced audio/visual systems and software to automatically control water heater, sprinklers and building thermostats to enhance a home buyer living experience like never before.

Process Automation

With digitization changing the complete real estate industry, more and more companies are using Robotic Process Automation technology to enhance the efficiency of their workforce.

With the help of process automation, automatic manual, repetitive and rule-based processes and tasks. It is linked with end-user software like ERP-systems, MS-Excel, internet pages or email programs and then carries out manual labor-intensive tasks automatically exactly as programmed in its RPA-source code.

Predictive Analytics

Predictive Analytics or Big Data Analytics is another innovative tool to generate fresh data for real estate companies every time. It also helps in interpretation of data to predict the future price and trends. This technology helps developers to identify the features that are popular amongst the homebuyers and incorporate them into new constructions.