Tech­nol­ogy in prop­erty will be the game changer for the realty sec­tor

HT Estates - - FRONT PAGE - Nam­rata Kohli [email protected]­dus­tan­times.com

Data is the new oil for the real es­tate in­dus­try and tech­nol­ogy will help process it, says An­thony Couse, CEO, JLL Asia Pa­cific. The com­pany re­cently launched its global Cen­tre of Ex­per­tise (CoE) for tech­nol­ogy, data and in­for­ma­tion man­age­ment in Ben­galuru. As In­dia’s first global cen­tre for prop­erty tech­nol­ogy (“PropTech”), the CoE aims to set new stan­dards of in­no­va­tion for the real es­tate in­dus­try by in­te­grat­ing tech­nol­ogy into main­stream of­fer­ings in real es­tate like AI ( ar­ti­fi­cial in­tel­li­gence) for cus­tomer ser­vices, Vir­tual re­al­ity (VR) and Aug­mented re­al­ity ( AR) for im­mer­sive de­sign pro­cesses and sim­i­lar oth­ers.

To­day spaces are ex­pected to be as dy­namic as hu­mans. Just like hu­mans are sup­posed to be mul­ti­taskers, spaces are as­sumed to be multi-di­men­sional and even a heart, mind of their own. Is there a huge pres­sure now than ever be­fore, for de­vel­op­ers and own­ers to match up to the de­mands and as­pi­ra­tions of oc­cu­piers and cus­tomers?

holo­grams to trans­form com­plex, high vol­ume, high speed data into in­sights for de­ci­sion mak­ing. Many proptech ven­tures are us­ing tech­nolo­gies fo­cused on Vir­tual re­al­ity and Aug­mented re­al­ity to en­able en­ergy con­sump­tion mon­i­tor­ing and smart so­lu­tions for ser­vices such as park­ing, waste man­age­ment and trans­porta­tion.

Specif­i­cally what are the ar­eas where real es­tate clients seek tech­nol­ogy in­ter­ven­tions? Which are the ar­eas where you fore­see greater de­ploy­ment of tech­nol­ogy in prop­erty mar­ket?

Tech­nol­ogy will help in analysing data col­lected from smart ap­pli­ca­tions. Data re­lated to realty in­cludes his­tory of the prop­erty, cur­rent val­u­a­tion, cus­tomer lo­ca­tion pref­er­ence, res­i­den­tial/com­mer­cial hous­ing trends, cost of own­er­ship and leas­ing de­tails among oth­ers, all of which fa­cil­i­tate bet­ter de­ci­sion mak­ing

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