Connect with us

Technology

Technology Can Play A Crucial Role To Create Affordable Housing In INDIA

Published

on

TECHNOLOGY CAN PLAY A CRUCIAL ROLE TO CREATE AFFORDABLE HOUSING IN INDIA

The Indian real estate sector has witnessed a significant growth over the years. But it has been lagging behind in creating affordable housing but with the help of technology the same can be accomplished.

The Indian real estate business has started to realise the fact that technology can play a crucial role to create affordable housing in the country. So far, the entire focus has been on the policy framework but there hasn’t been much work on cost and benefit analysis about how technology can create reasonable housing projects for the common people. Indian real estate developers have already started incorporating international methods like dry-wall techniques, pre-fabricated construction, slip-form construction and Mivan shuttering. Many see these developments as a move towards the right direction.

The need of the hour is to reduce the overall cost of procuring advanced technological equipment, materials and other resources. In order to achieve this there needs to be some serious regulatory changes that need to happen in terms of rationalisation of customs duty, excise duty, tax reliefs, VAT etc. It will not only help reduce the cost of affordable housing but will also benefit home seekers from the low-income groups.

Brotin Banerjee, MD and CEO of Tata Housing, emphasizes the fact that the use of right technology will reduce the total cost and completion time of projects. He recommends policy incentives for making the Indian real estate scenario more advanced in terms of technology.

The best way to achieve this milestone is through a combined effort of the entire real estate industry. Majority of the stakeholders in the real estate business operate within their respective domains in terms of research and development. This is has resulted in individual pools of knowledge with little or no sharing of information.

Sachin Sandhir, global managing director, Emerging Business of Royal Institution of Chartered Surveyors (RICS) has stated that “RICS recommends in its research report that a cohesive approach needs to take place across all stakeholders,  in order to increase the annual supply of professionals and address skill-set gaps in the existing manpower. It is very important that such an exercise should happen at a mass level instead of individual level. The cooperation and commitment of all stakeholders will result in a much fruitful environment.”

However, small real estate developers may not be able to bear the cost of advanced technology. Most of them are driven by promoters who don’t even understand the benefits of technology; they still rely on conventional practices instead of new ones. This raises the question that technology has not been vastly applied for creating affordable housing in India.  There needs to be a constant push to the developers to adapt to new technologies that will save both time and cost of construction. Hopefully, we will notice a change in the overall scenario in near future expanding the scope of affordable housing in India with the help of technology.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Appoint Housecraft App For Your Interior Designing Job

Published

on

By

Do you have a knack for interior designing? Did you always dream about being an interior designer but could never really get a head start at it? Is your home in a dire state for a revamp? Do you like to change your interiors often?

If your answer is yes then we have the perfect solution for you. The answer to your prayers is the refreshing Housecraft App. The app is available only on iPhone App Store for free.

It is a fairly easy app that can be used to design any interior living space with the choice of several pre-fed furniture and décor items. You can use your phone’s camera and watch the power of augmented reality to place fully rendered 3D models anywhere in your world.

For example if you want to redo your living room. All you have to do is open your phone camera and scan the room. You would be surprised at how accurately it takes measurements. It then lets you drop all the furniture you can think of. You can resize each object so you can customize it according to your room. Plus, you can admire objects from any angle, in any light! Once you achieve a set-up that you like, you can save it for later reference.

The app is a break through at many levels. To start with you design your own home and test it on the app so you can actually see the outcome of your design. For people who like to mix and match and change décor items on a regular basis can use this app for better visualization of their ideas. It is easy to save room configurations and try them out anywhere. Thus great help in apartment hunts, reorganizing a room, testing how new furniture will look, and more. With their video recording feature you can share your creations with your friends or family.

Also Read: 5 Real Estate Tech Startups in India You Can’t Ignore

Continue Reading

Technology

5 Real Estate Tech Startups in India You Can’t Ignore

Published

on

By

5 Tech Startups in India You Can’t Ignore

The real estate sector is one of the biggest contributors to the country’s economy. It is no wonder that the sector is booming with newest technologies that are changing the age-old industry norms and raising industry standards. Here are five tech start ups that you need to take note of:

NESTAWAY

5 Tech Startups in India You Can’t Ignore

If you have ever faced a rental problem and most of us have, this is the thing that you need. NestAway is India’s home rental network for singles that offers rental solutions via latest technology and best design.

Founded in January 2015, NestAway is an app that lets you find, book, pay, move-in and out of a rental home anywhere in India. They basically manage both parties in a rental situation and turn unfurnished houses in to furnished homes and offer them at affordable prices on sharing basis. Deepak Dhar, one of NestAway’s four cofounders, says “It’s a new concept for owners and a solution for tenants. Plus we’re solving the youth housing crisis of upwardly mobile urban migrants in cities.” It began in Bengaluru and today is spread in 9 metro cities of India.

Website: nestaway.com

NoBroker

5 Tech Startups in India You Can’t Ignore

A Bangalore based real estate search portal, NoBroker eliminates broker and directly connects flat owners and tenants. Founded in 2014, NoBroker claims to work on the basis of technology that identifies and abolishes brokers. Started as a rental platform, they have now forayed into brokerage free buy/sell property as well. They verify each listing to make sure they are owners and no middlemen. They offer maximum information in the most accessible format, thus saving you time, money and energy to actually go physically hunting for house.

Website: nobroker.in

SmartOwner

5 Tech Startups in India You Can’t Ignore

Find the biggest market for investors here; all the opportunities that you won’t find on general market. SmartOwner brings forward some of the carefully curated investment opportunities from the fastest growing cities in India. Projects are vetted by law firm after meticulous checks. It verifies all the listing to make sure the pricing and specifications are in line with the market trends. Thus it offers well calculated risk and returns. People benefit from the curated high-return opportunities.

Website: smartowner.com

Approach

5 Tech Startups in India You Can’t Ignore

Approach helps you to conveniently and accurately manage scientific data which enables you to grow your business strategically instead of hit and miss methods. Real estate is a growing sector and it needs such solutions where management can take accurate decision based on solid data. Approach lets you manage your inventory from any location. Cloud telephony lets you track all your campaigns and calls from anywhere. Automated SMS and Email Marketing allow you to connect with your audience and also offer in-depth analytics of click-rate and subscriber activity. You can now even calculate the returns on investment from all your media spending and campaigns.

Website: approach.one

GrabHouse

5 Tech Startups in India You Can’t Ignore

Established in 2013, Grabhouse is a no broker website that helps people find flats, flat mates and tenants quickly and without much effort. It is the first venture that is a 100 percent broker free house renting platform. It is able to achieve this by using powerful technologies that allow stakeholders to enhance their business. Their target group lies between 18-28 years; they are mostly students or young professionals who are looking for decent places to stay while saving a buck. Even on-ground assistance is provided after lead generation for a nominal fee.

Website: grabhouse.com

 

Also Read: Technology And Real Estate: Reaching New Heights

Continue Reading

Technology

Alibaba Now Enters Housing Rental Market In China

Published

on

By

Alibaba Now Enters Housing Rental Market In China

Alibaba, the Chinese e-commerce giant, signed an agreement with Zhejiang province to use the company’s technology in order to build an online system for house rentals. As per the agreement, this system will include all the apartments that are put up for rent by an individual, government, developers as well as agents.

The Xinhua news agency reported that the Hangzhou City in Zhejiang province will be able to use this application to seek houses on rent. The website by Alibaba will help people at every stage of the procedure, right from searching for a home to apartment contract signing and later payments.    

Han Junqing, director of Hangzhou Real Estate Registration Center, said, “Information on apartments, user reviews, and credit ratings of owners, renters, and agents will all be shared.”

The system is called the Smart House Renting System and will be supported by Alibaba’s technology, data, and commerce credit system. The government sources have revealed that it can prevent fraudulent deals.

At present, the housing rental market in China is dominated by real estate agents, and fraud and disputes are not uncommon in all the major cities. There are big real estate players with their own apps however that information is not shared with others.

People seeking homes for rents often have to refer to different apps and compare their offers as these companies lack the Zhima Credit from Alibaba subsidiary Ant Financial’s which is a much more mature credit system.

The government of China is prioritising the rental market’s development to rein in runaway home prices in the country’s big cities. The Central government chose Hangzhou among the first 12 cities to take bold reforms to boost the rental market.

Also Read: Technological Solutions That Are Helping The Commercial Real Estate Industry

Continue Reading

Trending