Source: Express Computer (

The digital revolution has transformed every industry by incorporating cutting-edge digital technology into their existing operations in an effort to foster creativity, boost productivity, and enhance services. The real estate industry has also been hit by the technology juggernaut propelling it forward in today’s economy.

A wide range of disrupting technologies such as the Internet of Things (IoT), automation, cloud computing, artificial intelligence (AI), big data, augmented reality (AR), virtual reality (VR), and drones, are now an everyday part of the real estate industry and all renowned developers have taken heed. Developers have also started using Proptech tools like CoGence, CoPro, Primavera, and Microsoft Projects, to further enhance proficiency in construction.

The recent technological shift has transformed the way the industry buys, sells, advertises, and manages properties. IT solutions such as automation and machine learning have reshaped new business ventures within the real estate sector.

AI in Real Estate

Artificial Intelligence (AI) is transforming the real estate industry in numerous ways, bringing efficiency, accuracy, and convenience to various sectors of the industry.

According to a survey by KPMG India, 90 percent of real estate developers in India are using technology to improve their operations. With ConTech and PropTech interventions such as finance process automation; AI, IoT, and analytics integrated with Big Data are expected to impact businesses from the first day itself.

More smarter the greener the better

As developers now face the challenge of constructing greener structures they have turned towards modern technologies to decrease their carbon footprint. As per the Indian Green Building Council (IGBC), the green building market in India is expected to reach $50 billion by 2025.

Smart building technologies involve the use of advanced sensors, automation systems, and connectivity to enhance the efficiency, safety, and functionality of commercial and residential buildings. These technologies aim to make buildings more responsive to occupant needs while reducing energy consumption and operational costs.

Future of tech in real estate

The future of technology in real estate holds significant promise and is likely to continue transforming the industry in various ways. According to the IBEF, the real estate market by 2024 will grow to Rs. 65,000 crore ($9.30 billion) from Rs. 12,000 crore ($1.72 billion) in 2019 and technology is predicted to play an important role in this growth.

Organisations within the real estate industry must act now to adopt and adapt to disruptions to be future-ready. Reshaping businesses digitally and reforming operating and financial models is the need of the hour for unlocking value from real estate assets.

Looking ahead, environmentally conscious home buyers will drive demand for sustainable and eco-friendly properties.