New-Age Construction Technology Can Build a Strong Foundation for Fresh Projects 2020
By Hardik Agrawal, CEO & Director of Radha Madhav Developer Industry 4.0 is bringing modernization into a whole range of sectors — from telecom to transport to retail. The real-estate sector, which has stuck to traditional construction methods for a long time, is finally coming out of its comfort zone. Developers all over the world are experimenting with new-age construction techniques— enabling them to deliver projects faster and more efficiently. In India, where at least 1600 housing projects are stalled due to delays and inefficiencies, these techniques can really help change the bigger picture. Here’s a look at some of the most effective techniques, and how they can transform the realty sector: Prefabrication — delivering faster and better The concept of prefabricated construction is simple. The different elements of a building — from light fixtures to exterior walls to bathrooms — are built off-site at a factory. Once they are ready, they are transferred to the construction site and then fitted into the project. There are many advantages to prefabrication— the biggest being that it reduces time to completion drastically. Plus, it also requires fewer skilled labours at the construction site, which in today’s day and age is a huge advantage. Proper planning and incorporation of prefabrication can also help developers optimize project costs. Prefabricated construction is slowly gaining ground in sectors like commercial retail and healthcare but there’s still a lot of scope for this technology, especially in India. Using Big Data to modernize real-estate development Big Data and Predictive Analytics have changed the game for so many companies across different industries. The technology simply uses advanced tools like Machine Learning and Artificial Intelligence to help businesses generate insights from the large amounts of data that you end up collecting. These insights go a long way in helping companies make well-informed, forward-looking decisions. In construction, this includes decisions on things like scheduling, budgeting, safety, and so on. Developers that go ahead of the curve and adopt Big Data tools will find themselves at a huge strategic advantage in the next 4-5 years. Entering into a new reality: AR/VR Few technologies have the potential to transform real-estate development like AR/VR (Augmented Reality/Virtual Reality). With VR you can compare development plans with the actual physical spaces. You can also enable virtual walkthroughs for clients, allowing them to see the vision of the project even before it becomes a reality. What’s more, you can actually focus on temperature differentials and safety conditions through this technology, ensuring better safety at construction sites. Internet of Things and the modern construction site Wondering what role can IoT (which we usually associate with our SmartTV and Smart Fridge) play in the real-estate sector? IoT, when applied correctly, can enable effective, real-time monitoring of construction sites, which can be a game-changer for efficiency and timely delivery of projects. For example, wearable construction technology can be integrated with construction management software, giving managers a complete picture of what’s going on at the worksite. Not only does this help them make more informed decisions to move things faster, but it also provides data that can be used to plan future projects more effectively. Similarly, embedded sensors allow companies to collect critical information at a worksite — from data on material performance to operational workflow to safety conditions. The real estate industry in India is definitely going through a period of struggle, with a constriction in working capital, a slump in demand, and overall economic uncertainty. However, this troubled period is actually the best time for forward-looking developers to start experimenting with new-age construction technology. Not only will this provide significant efficiencies and cost optimization in the short run, but it will also help them find a competitive edge and achieve market leadership when the sector starts booming again.
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