The last few years have done the superb task of reshaping the realty sector. Various technological trends have adorned this sector and now real estate is no more insulated from the impact of technological advancements. The traditional ways of construction are being taken up by the modern technology. Even Artificial Intelligence and various other advancements are doing wonders in real estate. Technology is saving time and cost. Hence there is an amplified focus on technology in realty sector.
1.Tech Advancements in Realty Sector
The role of technology has seen a significant rise in our daily lives during pandemic. Even realty sector has made inroads with a number of technological developments and innovations to keep the boat sailing during the pandemic. These advancements are continued even today and are bringing about some fundamental shifts in realty sector. Amplified focus is seen on technology nowadays. 
1.1. Virtual and Augmented Realty
Physical site visits by the home buyers was a common feature before the pandemic but this style was getting rusted during the pandemic. Then came into picture, the technology of VR and AR. By integrating both these technologies with Building Information Modelling, virtual walkthroughs were used to give the feel of the site and its surroundings from the comfort of the house. Though virtual walkthrough existed even before the pandemic, they were not much utilized as the preferences were different then. Walkthroughs gained momentum during the pandemic. There was amplified focus on this technology during the pandemic and it is continuing even today.
1.2. Artificial Intelligence and Machine Learning
Artificial Intelligence (AI) is basically a branch of computer science that enables machines to sense, comprehend, act and learn. These machines think like humans and mimic their actions. AI is used in realty sector in the form of chatbots. These are digital assistants that are used on real estate websites to communicate with customers. In this way they take up the job of customer service and also save the need for human resources. They save time and give quick and relevant responses to the queries of the customers who visit the website. They are also available round the clock thus offering a great communication to the prospective home buyers.
Machine Learning is another branch of computer sciences that makes machines scrutinize and solve problems. It also teaches the basic logic to the machines so that they become intellectual enough to learn on their own and can even solve diverse variations of the problems.
All the stages of property procurement are now taken up by AI and Machine Learning. AI helps in Deal Matching too. Those interested can set their criteria on the investor dashboard and AI will inform them
when a deal matches with their benchmarks. Those properties that do not fall in the set criteria will be exempted from getting included in the information. AI also helps in property management. It predicts when the system of critical maintenance is ready for replacement. Search engines have also started to use AI to support users in getting more information even from a basic property search.
2.Role of Technology in Construction
Proper use of technology in construction segment will reduce cost of construction, quantity of material used; reduction of wastage, improved quality of raw material and is environmentally sustainable without any compromise on safety and security of the project. GFRC panels which are considered to be sturdy, is a precast technology. It saves time and money. It reduces the weight and cost of foundation. Even porotherm bricks which are perforated clay bricks, is another precast technology and can be used for the construction of non-load bearing as well as load bearing walls. These are economical and environmental friendly. They are light, durable and fire resistant. Porotherm bricks are used with dry mortar, thus eliminating the curing time. This is Prefabrication where one constructs it off site just to install it effortlessly on the main site.
Drones are gaining a position in construction sector. They are installed with cameras and thermal cameras and are used in various ways. They help to map the topographical maps. Thermal cameras help to inspect the roof insulation. Drones are used on construction sites to inspect, especially those points which are difficult for humans to reach. They also help to identify the potential hazards thus saving the workers from accidents. They are also used to click photographs as the work at the site progresses so that one can have a clear picture of the progress of work regularly. There is an amplified focus of technology in the field of construction.
3D printing is another fast approaching technology in the field of construction. Though in nascent stage, it will reach heights very soon. This technology is used to fabricate buildings rapidly. This technology uses an automated machine i.e. 3D printer to read the design and lay down successive layers of printing medium which can be a liquid, powder or sheet material. These are then joined or fused to create the component. This technology can create any shape; can use multiple materials and multiple colours. 3D printing saves a lot of production cost and material and even time. A 3D printer can work without any beak i.e. round the clock. Hence projects can be completed much faster and at low costs. These projects will be durable as any other traditional projects.
Aluminium Formwork is another technology which is used at the construction sites. Light weight aluminium panels serve as moulds to hold wet concrete until curing point is reached. This formwork is used to cast walls and floors in one operation. Aluminium formwork helps to form the cast-in-place concrete structures of a building. This technology produces quality work with minimum maintenance and more durability. It is a new technology that improves the quality of construction and saves time.
Good Time Builders is a techno savvy real estate company that is at par with its competitors in the field of technology. It implies a number of technologies in its projects. It uses BIM that is Building Information Modelling which helps to plan and visualize the entire project even before the first step at the site. Use of Artificial Intelligence is a regular feature at the projects of Good Time Builders. In addition to various other technologies, this real estate company uses Aluminium formwork at their Lake Side Enclave at Isnapur. These comfortable and luxurious 187 units are located in a serene atmosphere. Each unit serves as a perfect destination for you and your family.
3.Amplified Focus on Technology
Technology has marched into realty sector and is doing wonders in the field. It is still a long way to go for it to take over the sector, but even in the budding stages it has begun to modify the sector in all its fields. Had it not been for technology, the realty sector would not have bounced back so soon after the pandemic attack. The pandemic had almost brought down the sector on its knees but due to its resilient nature and the aid of technology and innovations, the realty sector was able to revive earlier than other industries. Technology is a cost-effective approach and also saves time. The increased use of technology in residential construction helps developers to meet the demand. Amplified focus on technology will surely bring laurels to realty sector.
Written by Nikhil Gattu
