In every angle and aspect of our daily grind as well as personal lives, the Internet can be seen to have become more deep-seated. Industries no longer lay money on person-to-person communication with the adoption of new and fancy technological utilities. As long as benefits from the luxury that comes alongside the gradual advance in the field of technology are concerned, the real estate industry has been slow in considering it but witnessed a booming and profitable change.
The real estate industry is noticeably gigantic. In India, it is expected to score a market size of USD 1 trillion by 2030 which is equivalent to 70 lacs crores in INR, and contribute 13% to the nation’s GDP by 2025. Many tech enterprises today are convinced of the capacity of this market and are continuously amplifying their software applications and products to aid buyers, sellers, and investment firms oberoi elysian goregaon east looking forward to make a profit revenue 2X more because of using such great integrated technology is been incorporated in the organisation.
Technology has given birth to tools to ease asset management and related research through constant monitoring of property valuations and real-time information update without the need for manual input. Task automation has become more and more crucial for real estate transactions and these small, yet productive process changes create a sound and strapping difference in business strategy, prioritization, etc.
The increase in the number of secure and authentic online real estate marketplaces have made it untroublesome to find a list of all the homes fitting our preferences as well as get a tour around the place virtually. Ad tech has changed the marketing methodologies used by brokers for years and now they can target compatible customers for their fresh properties.
At times, tech-enabled brokers allow the customers to purchase a property with the help of a broker without the need for in-person interaction throughout the process. With the introduction and advancements in the field of Artificial Intelligence and precise finance & mathematical modeling, brokers can evaluate prices more precisely than the time when they had to depend on neighborhood-level determinants and home features to generate price estimations. Oberoi Elysian located at Goregaon East in Mumbai City offers luxurious residential projects with contemporary interior designs and tech-enabled amenities. Alongside, smart gadgets employ the idea of the Internet of Things, like smart doorbells and locks, for revamping the sketch of property management. Another example of the application of IoT, in this case, is Smart Thermostat which intelligently adjusts the temperature in a unit after learning the tenants’ preferable temperature thereby lowering heating and cooling costs.
Real estate has always been slow in development as compared to other industries but with practical and profitable technology, real estate agents, as well as homebuyers, have been highly advantaged with the space adapting expeditiously. Furthermore, whether its machine learning algorithm or modernity of the software being used, real estate is heading towards a contemporary stage that promises a more serviceable, self-sustaining, and successful tomorrow in its cards.