TechCon 22 asserts how COVID-19 has accelerated the technology adoption of Real-estate Industry

The Confederation of Real Estate Developers’ Association of India (CREDAI) today organized the CREDAI TechCon ‘22 in Hyderabad, to bring forth insights to bring impactful discussions among industry leaders and developers on integrating technology in the real estate industry. Post the outbreak of the COVID-19 pandemic, the industry’s acceleration of the technological adoption in the real estate industry to enhance resilience, maintaining stability, and ensuring business continuity. The real estate industry is progressively embracing the changing technology in the RE sector. The witnessed shift from 'Real life' to 'Real time' has been phenomenal in the industry since the COVID outbreak. Integration of technology in the sector will help in building efficiency, power, in addition to saving time and money for developers and homebuyers in the long run.

In the recent Union Budget 2022-23, the government's strong focus on technology-enabled development and aligned investments in key sectors like healthcare, fintech, education, infrastructure, R&D, start-ups, agriculture, and manufacturing is a testament to India's technology prowess and the capabilities of the Indian technology industry to provide a fillip to sectors across. The 2022 budget laid the foundation of new India in a progressive light with an emphasis on technology for all-around development and a smart way to drive the nation towards the future.

The all-day event brought together industry leaders of the Real-Estate community who have been partners in the ecosystem growth story across the years. During the event, the industry leaders discussed the evolution of real estate and the role of digitization and sustainability, a significant role it will play for homebuyers in buying their dream house.

The event was inaugurated by _____________________ accompanied by the esteemed presence of Mr. Ram Reddy, VP South, Mr. P. Rama Krishna Rao, representative of CREDAI National and industry leaders: Ms Anamika Kadam, DGM L&T, Mr Sashi Kiran, Founder, FalconBrick, Mr S J Vijay, Chairman, Salmon Leap, Mr Vivek Agarwal, Founder, Square Yards. Panel discussions & fireside chats were conducted on topics such as New Age Construction Technologies, Modern Marketing Organization, Technologies for Efficient Project Management, Re-igniting growth & innovation- in the sector that changing the real estate markets today.

Speaking on the occasion, Harsh Vardhan Patodia, President, CREDAI National, said, “Technological advancements in real estate were traditionally happening at a slow pace. However, the onset of the pandemic has steered an accelerated digital transformation in the sector. The optimum use of technology during the lockdown periods ensured that we reach out to consumers in the most innovative ways. From virtual tours, 3D visual effect in the virtual tours, usage of digital platforms has increased the consumer outreach in the last two years. While the industry is identifying the potential of technology, the government is also coming up with various initiatives to drive technology adoption in the sector. The government’s flagship campaigns such as Digital India, Smart Cities concept, etc. are accelerating the holistic use of technology in real estate. The technological advancements adopted by Proptech players are predicted to create a digitally driven sector and sustain its place in the longer run.”

“Placeholder for a strong quote of a dignitary present at the event” Mr. Ram Reddy, VP South, CREDAI National, CREDAI Representative, said, “There is no doubt that the digital-first approach is becoming more mainstream for both developers and homebuyers. The disruption caused by the COVID-19 pandemic has accelerated digitization across sectors, including the real estate industry. Technology has made its presence felt in various sectors of India's development in the last twenty years. The Indian govt., and developers, also recognize this fact that for India to march ahead on a sustainable development pathway and realize the dream of ‘New India’, technological evolution is imperative"

The real estate sector will see more growth in the coming years as developers begin to evolve living spaces. Technological advancement and change in the generation of buyers looking out to invest in properties has positively impacted real estate businesses.

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