Covid-19 pandemic has severely affected all sectors across the globe. This pandemic has not only been restricted to health crisis worldwide but also contributed to massive economic depression in various sectors. India underwent into an entire lockdown mode for a generous period of time and to overcome the setbacks technology evolved various sectors during this pandemic.
From digitalization of courts, to robotics laboring in real estate technology has processed the world into a virtual reality within no time!
Real Estate sector being on the edge has tried to make optimum use of technology to mitigate the impact of Covid-19. The buying behavior of the customers drastically turned down during this pandemic and the demand and supply got majorly affected due to lack of real time communication but gradually technology came to the rescue and acted as keeper by adaptation of various saviour measures.
The foremost adoption is deployment of robotics which has taken up the place of laborers and has undoubtedly speeded up the construction process. Deployment of robotics has not only resulted up in saving time but has also reduced the manual labor cost and humanly errors. Without any compromise in quality and interruption the productivity by robotics has immensely impressed the real estate sector.
FUTURE OF ROBOTICS: TRANSFORMATION OF REAL ESTATE OPERATIONS VIA AUTOMATION
Robotics can gradually prove to be a game changer in real estate economy which will not only reduce errors but will also increase operational efficiency. Following are the major productive outcomes of robotics in real estate world-
- Cost optimization- Due to continuous work 24.7 without any major break and holidays, in long run this technological evolvement can prove to be cost friendly investment.
- Improved speed and accuracy- Humanly errors would be dissolved which would help in increasing the efficiency and on the other hand due to a fixed pace of working, speed of the work also increases.
- Transparency and better tack recording- Machine based work is always more transparent due to which track recording of the work becomes accessible and easy,
Another milestone achieved by the real estate developers is extensive usage of drones which facilitates in site survey. Another advantage of drones is for taking pictures of properties which is shown to buyers so that they can visualize their potential purchase in relation to the cost.
Drones are extensively used to do the survey and evaluation of sites. They aid the developer by speeding up the process of mapping terrains and creating 2D and 3D images for precise measurements. It also helps in taking images of properties that buyers can view at economical costs.
Precast technology is not only safer but its effective and cost friendly too. It is employed to build real estate especially affordable housing. It helps in better time managements and reduce time delays due to labor shortage without any compromise on quality. The major impression of this technology is that it assists in saving around half the time that it would take to build in a conventional manner.
3D printing also ensures that the sites are fabricated in a brisker, low cost and a safer way. Considering the hard time and miserable situations it is perceived to be a budget friendly option.
From the past few years E- brochures were adopted. Covid-19 has carried forward. Extensive use of social media has made it easier to connect with consumer by giving them a virtual tour to their dream homes. Buyer- seller relationship is also maintained through online platforms.
Covid-19 has moved the budget of real- estate towards extensive advertising and marketing campaigns for wider and mass reach. Real estate firms are also gradually planning to tie up with payment gateways to ease the process of online deal closure. Thankfully all these practices have helped the firms to not remain standstill during this situation.
Technology has never failed to open new doors of development and opportunities to simplify life. From braking barriers to reconstructing framework of different sectors it has helped the entire world by making life simplified, easier, faster and flexible in numerous ways. Buying and selling processes have been digitalized. Online platforms are created to connect buyers and sellers. Data and analytics have proven to be a saviour for real estate market. Use of proptech has improved real estate management tremendously which has helped different businesses to grow wider and faster. Technology has made complex work flows easier and manageable to run.
Digital construction has undoubtedly taken real estate business to another revolutionary stage where instead of brick and motar, it is using data to control abd manage building properties through reality modeling, artificial intelligence, cloud computing. It has contributed to simplification of process of searching, viewing and buying properties. It has also enabled agents to serve their clients in a better way by closing the deals rapidly with robust compliance checks and programmed data in place.
The world is adapting to this ‘New Normal’ and ‘Newer Technologies’ by embracing these technological developments and changes. Stakeholders and consumers are shielded from jeopardy by protection of their interest with efficient usage of technology. These techonologial innovations will definitely find its way for the successful planning of construction and project management, leading to leaner construction, optimized cost value, better quality, and value engineered products.