Technology – a game changer for the Real Estate Industry

Technology continues to become a catalyst in areas of business and industry, and the real estate market is no exception. In reaction to the changing trends of migration to the most mature real estate markets in India, eg., Mumbai, Bangalore, Delhi etc prompted by untenable costs, landlords are already reducing rates to attract tenants. Newer technologies like machine learning, artificial intelligence, augmented reality and virtual reality have slowly started to take roots into the business model influencing the real estate industry to incorporate methods to enhance the buyer’s journey to generate an exponential increase of quality leads. Some factors that leverage the real estate industry are:

1.    Modern Facilities

To undertake mass hours of construction work, it is crucial to have new innovative technologies which are capable of fast construction and delivery of high quality structures in a cost-effective manner. Real estate developers having learned the changing trends in a buyer’s decisions that are seldom influenced by the choices of the millennials have started methodizing these new technologies.

2.    Security Features

With Internet of Things (IoT) becoming a reality, the technology of home automation will go a notch higher. This technology has given home buyers the freedom the regulate their home electricals and appliances at a click of a button along with ensuring safety. Today, real estate projects are installing vault systems, lockers, biometrics and video door answering systems to ensure the safety and security of their customers. Godrej Elements at Hinjawadi, Pune is one such project that has incorporated all these new and high-quality security and surveillance features to ensure the safety of their customers.

3.    Apps

There is an app for everything. Today every industry is incorporating new technologies to cut the time it takes for a customer to complete their buying journey, and it is important for sure! Chatbots, Artificial Intelligence etc are delighting customers because of the crisp and clear information they receive.

4.    Virtual Tours

Virtual reality is no more an idea of the future. High-quality walk throughs on online portals for home buyers helps them peek into the topographical aspects of the property on their hand-held and mobile devices.

5.    Drones

Drones have a huge impact on the end output, increasing traction resulting in high quality leads. Several real estate developers are using drone shot videos/images to leave a lasting impact on the minds of their customers.

Amongst all the mature real estate locations, Pune is one such area where new technologies are constantly being embraced. Flats in Hinjewadi reflect all the above-mentioned aspects of a lifestyle doused in comfort and luxury.