Better Buildings, Better Lives

Your author explains the significance of technology for real estate and VT.

Since the 1990s, new, innovative construction technologies adopted by the real estate industry have made the construction of buildings faster and the structures much stronger so they last for decades without wear and tear, facing all the seasons 24/7, year after year. Developers continue to invest in construction and digital technologies in consideration of the demands of a new generation of globetrotting homebuyers.

In addition, the pandemic-induced lockdown since March 2020 has witnessed the complete adoption of technology in the real estate sector, which has proved to be a game-changer for industry. Technology has seen a rapid transition in the past few decades, enabling it to meet ever-increasing housing demands. Emerging technologies over the years have shaped the industry as it develops quality real estate in India.

Transition of Buildings from Horizontal to Vertical

Technological advances benefit humanity in living longer and enjoying all the comforts of life, including large living spaces. For decades now, India has seen the overcrowding of metro cities, with people migrating from across the country in search of improved lifestyles. The increase in the population in these metropolitan cities increases demand for living space, which has resulted in the eradication of parts of forests and green habitats. Migration has been followed by the need for more homes, a trend that has seen horizontal developments going vertical to meet the demand. However, increased construction activity has led to disruption of our ecosystem. 

So, the question is, will going vertical benefit our ecosystem and preserve our ecology? Indeed, tall buildings or skyscrapers would surely benefit the natural typography, since horizontal developments erode more natural habitat than skyscrapers. So, tall towers address both areas: adding living space and reducing the impact on the green ecosystem.

The shift from horizontal to tall buildings has been in demand, and today, we have buildings that have reached 70 and 80 floors, thanks to technological advancements in construction that have helped fulfill the demand for homes in cities. Indeed, construction and technology play a critical role in the design of such tall buildings. For example, every high-rise building’s foundation is designed with the gravitational load it will face in mind. This is why the framework of these buildings is always made up of steel and concrete.

With the necessity to achieve high-density development and urbanization, such buildings provide the opportunity for an urban stretch with a relatively small footprint. Tall buildings have multiple floors, which makes it difficult for the elderly and differently abled people. Fortunately, technology stepped in, and vertical transportation (VT) — in the form of elevators — made tall buildings possible.

Elevator Quality, Then and Now

The elevator is the major means of transport within a tall building. An electric motor provides the motion that raises or lowers a cab in a vertical shaft by means of wire ropes. Because of its height and the large number of tenants, tall buildings require careful provision for life-safety systems. 

Today, many people in their early 40s or 50s are developing health issues that affect their mobility. Elevators have become an integral part of the construction sector, and are providing residents of tall buildings quality mobility to their living spaces. Elevators were initially designed for tall buildings in business districts, but recent decades have seen the installation of elevators in all residential developments with high numbers of floors. Also, there has been a transition in the technology and designs of elevators. Manual doors have now transitioned to automatic, center-opening doors, and even single-door openings have given way to double-door openings. The increased convenience has further increased demand for elevators. Now, on account of the swift increase in elevator usage, faster and better lifts have entered the market.

Technological advances benefit humanity in living longer and enjoying all the comforts of life, including large living spaces.

The latest elevator technology is gradually replacing woven metal ropes with a form of carbon fibers that is more tensile, sturdy and longer lasting. This is helping elevators cover heights of even up to a kilometer in a single run, which was not possible with metal cables.

Fusible ropes are heavy; the usage of carbon fiber reduced the elevators’ weight by almost 90%, making them easier to use. Elevators now have destination control features that take into consideration the privacy of the tenants. Also, elevators with individual floor access systems are largely used for direct access to one’s own floor, which helps eliminate annoyance.

Change in Technology 

The introduction of technology in real estate has made work safer and more efficient. Today, the extensive transformations brought on by the Internet of Things (IoT) and AI has not only helped create smart cities, but also improved the lifestyle of urban dwellers and has resulted in business opportunities for the real estate sector.

Real estate is constantly incorporating IoT applications, some of them being:

1. House-hunting — With the pandemic, house-hunting has taken an entirely different route. People now go on virtual house-hunting visits with agents or via portals given to them online. Providing users with an interface or AI in an app or on the website gives them the opportunity to find a suitable house from their comfortable space.

2. Smart homes — The trend of home automation is increasing. Home automation gives abundant advantages to the homeowner. From enhanced security, with the help of video security cameras and remote locking of doors, to saving time and energy through the use of smart appliances in the kitchen or for laundry, to the increased resale value provided because of home automation, smart homes have changed the way people search for their ideal residence. 

3. Smart buildings and management systems — Taking the concept from smart homes, smart buildings are also in the process of embracing the concept of IoT. This can extensively be seen in townships and new buildings.

Besides all these benefits, the developed technology has created a new venture known as predictive analysis, which helps not only in the operations of the building, but also in rectifying glitches from remote locations.

How has the pandemic affected the use of technology? Over the past year and a half, the pandemic has increased demand for homeownership. People are now searching for homes in up-and-coming micro markets and central suburbs. During this period, extensive home-searching resulted in the increased use of technology, in terms of virtual home tours, virtual home staging and drone and video walkthroughs of buildings and apartments.

In 2020, the trend of work from home increased demand for smart homes, but with the added demand for home automation. Thus, smart homes have become a preferred way of living in troubled times.

How has real estate incorporated technologies in its projects? Real estate has seen constant adaptation and upgradation of technology for an improved lifestyle. Real estate developers have also benefited, as there was a huge push to streamline paperwork usage that was solved by cloud adoption. The cloud is secure, has enormous storage capacity, reduces operational costs and provides real-time sharing and accessibility. This implausible development created approachability and functionality in the buying and selling of real estate platforms. The basic idea is to operate on an easier and more user-friendly interface that provides ease of navigating through houses or properties faster.

Virtual Reality (VR) has also played a crucial role in real estate. When it comes to buying or renting a property, one needs to know the place inside and out, especially when living in a really far away city or being unable to find a suitable time for viewing. VR enables proper walkthroughs for the buyer.

Apart from these, there are more advancements of technology found in the real estate sector, such as machine learning, return on investment calculation, big data and personalized recommendations, to name a few.

The rapid changes in technology can be tough to get a handle on but, once incorporated, can expand opportunities for the real estate industry. The fine line is that the industry is regularly adapting new and emerging technologies and innovations.