There is no denying that global pandemic COVID-19 had affected the economies globally. Most of the countries comprising India had implemented national lockdown to stop the chain of the virus. Every sector has explored distant working to stabilise the business and also to combine the latest technological processes to reduce the impact of coronavirus. Indian realty sector is not a special case to the present conditions of the business which is either stopped or operational with limited resources.
Recently advanced technology got into other processes including proper planning, marketing campaigns, and sale which was dependent on publicity materials like brochures, site visits, and meeting with the developer. The sector has integrated its processes with the new for delivering a better buying and selling experience in India. But with the explosion of global coronavirus, maximum sectors have faced a bad time and the same has affected the buying behaviour of the customers. During March-April an unfavourable impact of the Covid-19 pandemic was seen on demand and supply in the realty sector. This is where the technology previously integrated came as a saviour.
According to Rajat Goel, Joint Managing Director MRG World, “Deployment of robotics and AI will boost up the construction process at less cost and will be error-free. This has also helped the realty sector to continue the work without any compromise in quality.”
Harvinder Singh Sikka, Managing Director Sikka Group said, “Latest technology has played a significant role in helping the realty segment during the difficult time. The latest entry in the sector is Artificial Intelligence, which is transforming the way the sector has operated until now. Developers have now embraced revolutionary technologies such as the Internet of Things (IoT), Virtual Reality (VR), AI, and Machine Learning (ML).”
Ankit Kansal, Managing Director 360 realtors said, “Now the developers are using drones for assessing and doing surveys on the construction site. Drones are also being used to capture images of projects that can view visual information at affordable costs.”
Now E-brochures are being used since the last few years. In this era of social media, it is easy and comfortable to interact with the customers and offer them a virtual tour to their dream homes, resolving their queries online and helping them to maintain a smooth buyer-seller relationship.
Property technology is still much-undermined but it has come to help when needed the most. The latest technology has always been a vital factor in re-considering the parameters of development in the realty segment. When the on-going coronavirus has kept developers and customers and sellers at bay, these advanced technologies played the most important role.