Technology will bring multi-fold efficiency in real estate: Pradeep Misra, CMD, REPL

In the changing landscape of business environment, real estate developers cannot suffice on the age-old ways of operations, they have to adopt new data-driven insights.

Artificial Intelligence (AI), Internet of Things (IoT), Augmented Reality (AR), Building Information Modelling (BIM) and Big Data are few of the technical disruptions which are changing the landscape of the real estate sector in India now.

A seminar on Emerging Trends in Real Estate Sector: Design, Building and Lifecycle Technology was organised by the Confederation of Indian Industry (CII) in Delhi where Pradeep Misra, CMD of REPL laid emphasis on ever-increasing role of technology in infrastructure and real estate.

"In order to achieve multi-fold efficiency, it is important for the real estate developers in India to adopt the technical advancement coming their way. Initiatives like smart cities won't be possible as such concepts thrive completely on the latest disruptive technology," said Pradeep Misra, CMD, Rurdrabhishek Enterprises Ltd. (REPL), a public listed integrated infrastructure consultant.

While speaking at the event, Misra shared that the technology application in the real estate sector has increased more than ever before as the sector witnessed cash crunch, inputs cost increased and there was delay in the delivery of the projects.

With advance technology in place, the developers can ensure cost efficiency, effective decision making, timely delivery of projects, efficient design layouts with minimal errors and several other long term benefits.

Misra also apprised the audience about the benefits of the technical advancements in the real estate sector as he said all the stakeholders involved in developing projects will benefit from the technology.

Architects, engineers, project managers, and contractors will be able to collaborate on real-time basis, duplicity can be avoided, actual progress of the project can be measured at any stage, bottlenecks can be identified and decision can be made in a much dynamic way.

CMD of REPL also talked about Robotics in real estate sector as he said that induction of Robotics in the sector may bring in a transformation in the sector as it might directly have an impact on customer service mechanisms, both pre-sales and post-sales, which is as of now missed out by most of the developers.

In his concluding remarks, he said the real estate developers are left with no other option but to adapt the technology as the demand for smart homes and smart offices are on the rise and buyers would now start asking for visual experience of their property.

He also emphasised on getting the trained manpower so as to get the best out of the technical disruptions and increase efficiency.

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