The Transformation of Real Estate - The Impact of Digital and Construction Technologies

Sep 15, 2023 - by Flat In Kalyan

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The Transformation of Real Estate - The Impact of Digital and Construction Technologies
The real estate sector in India has quickly adopted digital and construction technologies as developers continue to pursue innovative ways to improve the customer experience. Implementation of technological advancements is necessary for the real estate sector’s sustained growth. This technological change has expanded to construction, obtaining and administration and presents an opportunity to estimate previous industry practices and present new systems.

High-rise buildings are more resource-hungry than slighter buildings. The building materials and construction process can meaningfully influence the total cost for the end consumer. Technological employment across all construction phases can rationalize workflow and increase productivity, thus, reducing the overall project cost.
Building Information Modelling is a fast-growing construction technology and is a vital tool for modern architectural, manufacturing and building processes. This groundbreaking technology creates precise digital models of buildings and can deliberate inputs from multiple stakeholders, including engineers, architects, builders and clients. It can induce the cost, time and energy requirements of the building. Building Information Modelling permits projects to maximise natural light and ventilation for healthier living spaces. In a mixture of AR and VR, it enables speedy testing in various simulated environments.

A key example of technological innovation is Mivan, which is a state-of-the-art aluminium wall formwork with important advantages of quality, speed and skilled resources. It is an excellent addition to conventional construction technology. The building has an important advantage in terms of physical constancy because it builds load-bearing walls and pieces and the entire assembly is closed and poured monolithically. The assistances of Mivan include faster construction and conclusion due to the light weight of aluminium form, uniform construction excellence and near zero wastage resulting in minimal environmental influence.

The Internet of Things (IoT), which improves performance, accountability, and security, is being quickly embraced by the real estate sector. An IoT system enables construction sites to prevent and handle problems in real time using sensor technology. IoT sensors make it possible for features to be added once construction is complete, such as intelligent security systems, energy-saving appliances, and remote management of many parts of the home, including temperature and lighting. For improved performance and convenience, it offers customized setups of settings in kitchens, baths, and gardens. Appliances that are connected can be checked for issues or maintenance needs.

Smart home technology is at the front of smart cities and integrated gated communities. These cutting-edge projects are fortified with smart home facilities, including device connectivity, sensor feedback and data examination with smart home mechanization systems using voice, smartphone and physical commands. Nearly any electronic equipment, including entertainment systems, security systems, appliances, thermostats and lighting, can be improved with smart technology ecosystem and functionality. The addition of all home appliances into one integrated smart network makes a seamless interface with the living area that recovers convenience, comfort and energy economy.

Blockchain technology significantly bolsters the trust and slide of real estate transactions. Through its erudite mechanisms for safeguarding and conserving data, blockchain technology facilitates a protected and unalterable record-keeping process for property ownership, contracts and transactions. This authorizes real estate specialists to streamline the purchase process, mitigate the risk of fraudulent activities and proposal customers an efficient and reliable channel for the transfer of property ownership. The real estate sector is probable to have improved cost management and well-organized procurement strategies via blockchain, which would result in slide for all stakeholders.

For capital scheduling, project delivery, cost management and real estate management, Primavera is an automated project lifecycle management tool. The use of automation proposals governance throughout all project stages and is one of the guiding concepts of scheme lifecycle management. It helps professionally manage the aggregation and analysis of incoming data and makes a transparent system to quickly determine cost savings and opportunities. Given that nearly 80% of cost savings are attained before the construction phase, it is domineering to mitigate supply chain and vendor management disorganizations to achieve optimal results.

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