Adoption of Technology in Real Estate Sector

Kishan Thakkar K

Since the pandemic started, it almost seems that the Indian economy will be crippled badly but we can say that we had won the most significant recessions. However, the recent threat of the Omicron variant and the possible lockdown in the future, have cast a cloud of doubts.

In these uncertain times, both buyers and developers are adapting to the changing environment. Rapid urbanization and the inclination of millennials towards the real estate sector are becoming an aiding factor in more technology adaption.

The adaption of technology has been accelerated due to the pandemic only. The planning, governance, development efficiency, operations efficiency, and overall customer experience have been improved in the real estate sector due to significant technological advancement. 

Developers have adopted technology at a much faster pace to ensure real estate business continuity. PropTech is one of the trends in recent years. Blockchain, augmented reality (AR), and artificial intelligence (AI) are the top three technologies that are especially important and widespread in this sector.

The government has also been coming up with various initiatives like, Digital India, Global Housing Technology Challenge, Smart Cities, IndiaChain, etc., that are making the technology more holistic.

With the integration of technology, the real estate industry has become more vibrant and dynamic. Specifically PropTech is contributing constructively to the real estate market.

Hopefully you now have an idea of how technology impacts the real estate market. In case you have any doubt, please feel free to contact us at info@roodland.com. We have a devoted team to answer your concerns and queries. We assure you to provide the needed guidance in the best possible manner. Thank you!

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