Digital-first approach becoming more mainstream in Indian realty market

Hyderabad: The digital-first approach is becoming more mainstream for both developers and homebuyers, according G Ram Reddy, National Vice President, Confederation of Real Estate Developers Associations of India (Credai)

Speaking at the first edition of Credai TechCon '22 here on Friday, G Ram Reddy, Vice President, Credai National, said: "The disruption caused by the Covid-19 pandemic has accelerated digitization across sectors, including the real estate industry. Technology has made its presence felt in various sectors of India's development in the last twenty years. The Indian government, and developers, also recognize this fact that for India to march ahead on a sustainable development pathway and realize the dream of 'new India', technological evolution is imperative."

The real estate sector will see more growth in the coming years as developers begin to evolve living spaces. Technological advancement and change in the generation of buyers looking out to invest in properties has positively impacted real estate businesses, he added.

Credai TechCon '22 deliberated how innovative technological adoption can script a new growth story for the Indian real estate sector. The event saw the participation of more than 200 developers from various parts of the country. As the private real estate developers battle out the sustained increase in the prices of construction raw materials, limitation and restrictions in RERA and GST, delays in environmental clearances, they must not forget to innovate, modernize and upgrade. With an aim to empower the real estate developers across the country with better understanding of the applications of latest technology to drive maximum gains, the conference deliberated insightful knowledge-sharing panel discussions and fireside chats on key topics - new age construction technologies, modern marketing organization, technologies for efficient project management, re-igniting growth and innovation- in the sector that changing the real estate markets today.

According to the speakers at the conference, the technological advancement has brought monumental changes in the Indian real estate sector. The role of technology is not limited to virtual site tours and payments but also helps in simplifying the property buying process, project planning, engineering processes, quality checks so on and so forth. Technology can help developers to enhance efficiency with time, cost and quality across the value chain, especially in designing, planning, budgeting and executing on-site projects. From real estate startups to property portals and developers, all are investing heavily in advanced technology to ensure seamless customer experience.