Digital Technologies: Developers are adopting amidst COVID-19

Who would have thought that the tech advancements and innovations will be a boon to the real sector in such COVID situations? The transformation is likely to reshape the future of the infrastructure industry of India. 

As we all know that the Real Estate sector is severely affected due to coronavirus pandemic. None of us would have imagined that would have to get lockdown at home for more than a month, and still not sure how long it would take to settle the situation. Working from home is the only alternative these days to fight with the cause. Visiting construction sites is prohibited currently, which has dropped the sales in March-April.

However, technology is playing a major role to tackle the unpredictable crisis. So, even the developers today are getting connected to their customers by the means of digital technology to keep moving their business.  

Keep reading this post to find out what all technologies are being used to make it convenient for realtors and homebuyers.

• Virtual Reality (VR): In this lockdown situation technology like virtual reality has been a great help, allowing millions of people to virtually visit properties simply sitting at their homes. It is also not rocket science to use this technology. You just need to put on a VR headset and you can experience immersive, three-dimensional walkthroughs of properties. The customers get a 360-degree angle so, in a matter of minutes, potential buyers or renters can virtually visit dozens of locations and decide which are worth visiting in person.
• Online payment for booking: Buying home online has become the norm. Easy accessibility to mobile data on smartphones, combined with platforms for secure online transactions. Booking a home today is just at a click of a button. Also, some developers offer benefits for those who book homes through online medium. There is a lot of difference between the conventional method and the modern method, where online bookings and payments have increased in numbers.
• Online documentation and agreement: When you buy a house for the first-time piles of paperwork are involved, which can be daunting. It can also be confusing over the various types of documentation. Therefore, the real estate sector is making it convenient for its customers by making the information available online. The main paperwork can be done online that makes it simple and customers can conveniently pay the booking amount online and complete the other formalities later.   
• 4D tour of the property: Some big projects make use of a drone, though expensive but effective technology. Drones today are gaining popularity for managing and inspecting sites. With the help of drones, developers are able to map a site and create 4D images. 4D tour of the property allows customers to visualize even the basic internal structures including electrical systems, plumbing, walls, and so on. Not only customers but also for developers this high-cost technology helps reduce waste, expense, and labour, as well as help them penetrate the previously inaccessible areas of dense urban centres.

Technology advancement in a good way has forayed into the real estate sector. It has boosted the transparency between customers and builders; resulting in a growing marketplace for the realty industry on the internet and the rising number of property seekers.  

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Propertypistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.