{"id":34259,"date":"2023-08-07T07:16:55","date_gmt":"2023-08-07T07:16:55","guid":{"rendered":"https:\/\/newswireindia.in\/index.php\/2023\/08\/07\/indian-real-estate-industry-soon-to-become-a-realtech-industry-observe-experts\/"},"modified":"2023-08-07T07:16:55","modified_gmt":"2023-08-07T07:16:55","slug":"indian-real-estate-industry-soon-to-become-a-realtech-industry-observe-experts","status":"publish","type":"post","link":"https:\/\/newswireindia.in\/index.php\/2023\/08\/07\/indian-real-estate-industry-soon-to-become-a-realtech-industry-observe-experts\/","title":{"rendered":"Indian Real Estate Industry Soon To Become a RealTech Industry, Observe Experts"},"content":{"rendered":"
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NAREDCO Committee Members<\/p>\n

Mumbai (Maharashtra) [India], August 7<\/strong>:\u00a0The Indian Real Estate Industry is set to become a RealTech industry soon considering the swift digital transformation and adoption happening in the contemporary environment, particularly with the emergence of Artificial Intelligence (AI); quipped the digital experts and marketers at \u2018Excelerate 2.0 #TechForReal\u2019 forum organized by NAREDCO MAHARASHTRA\u2019s wing of next \u2013 generation entrepreneurs called as \u2018NAREDCO NextGen\u2019 in Mumbai today. \u00a0\u00a0<\/p>\n

Discussing the importance of cutting-edge technology and digital prowess to cater to ever \u2013 evolving dynamics of the real estate industry, NAREDCO Maharashtra NextGen organized a Knowledge Forum\u00a0\u2018Excelerate 2.0 #TechForReal\u2019\u00a0with technology experts, marketers and real estate industry experts.<\/p>\n

During the inaugural address Mr. Sandeep Runwal, President of NAREDCO Maharashtra\u00a0said, \u201cHaving undergone numerous cycles of change, I\u2019ve come to the realization that the key to survival in the real estate industry lies in embracing and adapting to technology. In my view, Excelerate 2.0 has provided a glimpse of the future direction. I eagerly anticipate the innovative ideas and pitches from new entrants and will closely track their journey of growth.\u201d<\/p>\n

According to Mr. Rajan Bandelkar, National President of NAREDCO, our wealth lies in the future generation. He emphasized the need to focus on delivering more while committing less.\u00a0He also pointed out that the real estate business is open to anyone,\u00a0unlike other industries where delivery precedes payment, in real estate, customers pay first and then receive the goods.<\/p>\n

Talking about the rationale for unleashing the need and relevance of digital transformation and technology for the benefit and advancement of the real estate industry, Mr. Rishabh Siroya, President of NAREDCO Maharashtra NextGen\u00a0said,\u00a0\u201cAs the next-gen real estate entrepreneurs, we felt the need to bring the crucial aspect of digital transformation and modern day construction technologies on the fore for better integration, productivity and excellence\u00a0within the real estate industry.\u201d<\/p>\n

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The panel discussion, titled \u2018Tech for Digital Transformation,\u2019 expressed the perspective that digital transformation has become an omnipresent force in today\u2019s world. People now spend an average of 2 hours on digital media, with about 53 minutes dedicated to video content in India. Consequently, digital content has become highly sought-after and unavoidable. Today, embracing digital transformation is essential, with a focus on customer-centric approaches. The customer demographic is evolving, with around 75% of customers being below 45 years old, and this generation is actively purchasing homes. Among home buyers, approximately 60% are below 35 years old. Engaging with this customer segment is now a necessity, and digital solutions are the most effective means to reach them.<\/p>\n

However, the real estate industry has been slow in adopting digital transformation, even though it is vital. The transformation is not merely an option but an imperative. Developers need to implement digital transformation throughout their Omni channel journeys to establish influential platforms. The industry has faced trust deficits, and technology serves as the solution to bridge the gap from customers to CPs (Channel Partners) to employees, thereby enhancing transparency. Additionally, technology will play a crucial role in addressing scalability challenges.\u201d<\/p>\n

The technology experts participated in the Session on \u2018Digital Transformation\u2019 harped on the need to identify technology needs of the industry considering various elements of the value chain such as sales compulsion from consideration to conversion, adopting customer solicitation and experience, awarding customer engaging strategies, pre-sales to sales and post \u2013 sales digital approach, analytics, etc and come up with a robust roadmap.\u00a0<\/p>\n

Sharing his thoughts on \u2018Tech for Construction\u2019, Mr. Sanjay Dutt, Senior Vice President, NAREDCO MAHARASHTRA and MD & CEO, Tata Realty & Infrastructure Ltd\u00a0said,\u00a0\u201cWhen proceeding with project transitions, such as moving from the design stage to execution, a crucial aspect is the implementation of a comprehensive handover process. Leveraging technology can yield significant benefits, not only in terms of time and cost savings in design and engineering, but also by facilitating effective organization management. Technology can play a pivotal role in educating departments about identified gaps and empowering them to make decisions akin to entrepreneurs. Embracing technology is imperative for developers to remain competitive and relevant in the current landscape.\u201d<\/p>\n

Excelerate 2.0\u00a0was powered by knest and co-powered by UltraTech Cement;\u00a0NedEx partner Kone; Panel Partner Powerplay, farvision and AbsoluteCX by Insomniacs; Knowledge Partner EY.<\/p>\n

The event also witnessed a unique stakeholder engagement session called\u00a0\u2018PROPEL \u2013 Proptech Platform for Entrepreneurial Launch\u2019\u00a0where various candidates from digital and technology spectrum presented their disruptive ideas to the jury.\u00a0<\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

NAREDCO Committee Members Mumbai (Maharashtra) [India], August 7:\u00a0The Indian Real Estate Industry is set to become a RealTech industry soon considering the swift digital transformation and adoption happening in the contemporary environment, particularly with the emergence of Artificial Intelligence (AI); quipped the digital experts and marketers at \u2018Excelerate 2.0 #TechForReal\u2019 forum organized by NAREDCO MAHARASHTRA\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":34260,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[3],"class_list":["post-34259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/posts\/34259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/comments?post=34259"}],"version-history":[{"count":0,"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/posts\/34259\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/media\/34260"}],"wp:attachment":[{"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/media?parent=34259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/categories?post=34259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/tags?post=34259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}