{"id":1148,"date":"2020-06-24T12:15:11","date_gmt":"2020-06-24T12:15:11","guid":{"rendered":"https:\/\/www.propertypistol.com\/blog\/?p=1148"},"modified":"2020-06-24T12:27:01","modified_gmt":"2020-06-24T12:27:01","slug":"adoption-of-new-technologies-driving-indian-real-estate","status":"publish","type":"post","link":"https:\/\/www.propertypistol.com\/blog\/adoption-of-new-technologies-driving-indian-real-estate\/","title":{"rendered":"Adoption of new technologies driving Indian Real Estate"},"content":{"rendered":"\n<p><em>The emergence of new technology has changed the way in which real estate is being transacted and experienced. <\/em><\/p>\n\n\n\n<!--more-->\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1024\" height=\"377\" src=\"https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/06\/5ad49a44cc447847042790-1024x377.jpg\" alt=\"\" class=\"wp-image-1149\" srcset=\"https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/06\/5ad49a44cc447847042790-1024x377.jpg 1024w, https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/06\/5ad49a44cc447847042790-300x111.jpg 300w, https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/06\/5ad49a44cc447847042790-768x283.jpg 768w, https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/06\/5ad49a44cc447847042790-1568x578.jpg 1568w, https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/06\/5ad49a44cc447847042790.jpg 1870w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>New technologies in Real Estate<\/figcaption><\/figure>\n\n\n\n<p>Technological up-gradation and innovative strategies have transformed our lives entirely. Even the real estate transaction of this has changed. Proptech (mix of words property and technology) is an emerging concept in India, leading to ample of opportunities. It is an application of technology to provide solutions and deliverables in the\u00a0<strong><a href=\"https:\/\/propertypistol.com\/\">real estate<\/a><\/strong>\u00a0sector; mainly to buy, rent, sell, develop, market, and manage property more efficiently and effectively.\u00a0<\/p>\n\n\n\n<p>Technological up-gradation and innovative\nstrategies are seen in the following key areas:<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.propertypistol.com\/blog\/adoption-of-new-technologies-driving-indian-real-estate\/#Construction_Technology\" title=\"Construction Technology\">Construction Technology<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.propertypistol.com\/blog\/adoption-of-new-technologies-driving-indian-real-estate\/#Project_and_Facility_Management\" title=\"Project and Facility Management\">Project and Facility Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.propertypistol.com\/blog\/adoption-of-new-technologies-driving-indian-real-estate\/#Digital_brokerage\" title=\"Digital brokerage\">Digital brokerage<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.propertypistol.com\/blog\/adoption-of-new-technologies-driving-indian-real-estate\/#Digitization_of_real_estate_data\" title=\"Digitization of real estate data\">Digitization of real estate data<\/a><\/li><\/ul><\/nav><\/div>\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Construction_Technology\"><\/span><a href=\"https:\/\/www.propertypistol.com\/blog\/mivan-shuttering-real-estate-innovative-technology\/\">Construction Technology<\/a><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Developers now are aiming to speed up the construction of their projects to meet timelines committed by them. These <a href=\"https:\/\/propertypistol.com\/builder-service\">developers<\/a> are increasingly adopting new and advanced construction methods to minimize construction time and bring in productivity. Additionally, to build more and more affordable homes needs the adoption of durable, strong, environment-friendly, energy-efficient, and yet cost-effective materials and appropriate technology in the field of construction.\u00a0\u00a0<\/p>\n\n\n\n<p>The available alternative construction\nproducts and manufacturing of construction material have helped bring down high\ncosts associated with standard building materials, which will help obtain\ncost-effective mass production at a faster pace.&nbsp;&nbsp;<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Project_and_Facility_Management\"><\/span><strong>Project and Facility Management<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Nowadays, technology is being adopted in\nmanagement such as&nbsp;<strong>residential\nprojects<\/strong>,&nbsp;<strong>commercial\nprojects<\/strong>, and retail. In-office spaces, various tools are\nimproving employee experience right from mobile apps for pantry and parking\nservices, to improved video conferencing and desk management tools. Technology\nhas restructured the purpose of brick-and-mortar stores and shopping malls.\nInside malls, one can see that there are sensors, digital directories, video\nwalls, and digital kiosks to attract more footfalls.&nbsp;<\/p>\n\n\n\n<p>Moreover, there are mobile applications\nlike one-touch parking payment, one-touch concierge, and real-time\nlocation-based offers. It also helps retailers to enable channel-based consumer\ntargeting.&nbsp;<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Digital_brokerage\"><\/span><strong>Digital brokerage<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>With the advancement in the technology,\nits utilization and expanding smartphone adoption rates, the internet is\nserving as the starting point of property searches for more and more\nhomebuyers. Consequently, there are many list and search platforms, which act\nas aggregators for listed properties and showcase them on their website.&nbsp;<\/p>\n\n\n\n<p>The recently emerged \u2018<strong>digital platform<\/strong>&#8211;\nCommercial Property Intelligence\u2019 provides tools for enhanced decision-making\nand business processes. Technology like Virtual Reality (VR) provides\npay-to-use software as a service business model to brokerage firms and real\nestate.&nbsp;<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Digitization_of_real_estate_data\"><\/span><strong><a href=\"https:\/\/www.propertypistol.com\/blog\/digital-technologies-developers-are-adopting-amidst-covid-19\/\">Digitization of real estate data<\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>With RERA in place, the technology used\nfor dissemination of residential data in the public domain has increased\ntransparency. Also, creating a database has helped to provide details about\nproperty location, size, floor plans, expected timeline of delivery, and the\nmaster plan.&nbsp;<\/p>\n\n\n\n<p>Rapid urbanization is resulting in a growing demand for&nbsp;<strong>real estate<\/strong>&nbsp;in the country. Looking at the scale of development that is, it is significant to switch to innovative and tech-savvy ways in the real estate industry. It is observed that the adoption of technology throughout the entire life cycle of a real estate transaction would take time, as most Indians still prefer direct interactions to settle property transactions.&nbsp;<\/p>\n\n\n\n<p style=\"font-size:12px\"><em><strong>Disclaimer:&nbsp;<\/strong>The views expressed above are for informational purposes only based on industry reports and related news stories. Propertypistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The emergence of new technology has changed the way in which real estate is being transacted and experienced.<\/p>\n","protected":false},"author":2,"featured_media":1150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24],"tags":[65],"class_list":["post-1148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-technology-in-real-estate","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Adoption of new technologies driving Indian Real Estate Sector - 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