Rapid urbanisation and growing millennial population is further augmenting the adoption of technology, especially in the country’s metro cities. Businesses are using data analytics, Internet of Things (IoT), Blockchain, and virtual reality among other tools in the way they design, operate and manage buildings. In addition, new concepts ranging from co-working to student housing are adding to innovation in the way occupiers interact with each other and with their physical spaces.
Technology and innovation in Indian real estate
Drone (Dynamic Remotely Operating Navigation Equipment) has observed exponential growth in the last few years, especially as a tool for data capturing, processing, monitoring and delivering. According to BIS Research, it is envisaged that the commercial drone market in India will hit up to US$ 885.7 million while the global market size will touch US$ 21.47 billion by 2021.
What are some of the popular and growing tech-innovations in real estate today? How do they benefit the developer, investor and occupiers? How have buildings evolved to respond to changing demands and preferences? How can innovations in smart cities make our lives more convenient and sustainable?
This whitepaper attempts to address some of these questions and encourages to think beyond conventional ways of operating in the real estate sector.