| |April 20205 | |January 20204VOL 3 · ISSUE 3 - 1 · APRIL - 2020From entertainment to transportation, technology has upended nearly every major industry -- with one notable exception: real estate. Instead of disrupting the sector, the last generation of real estate technology companies primarily improved efficiencies of existing processes. The next generation of real estate technology companies is taking a more expansive approach, dismantling existing systems and reimagining entirely new ones that address our growing demand for affordability, community and flexibility.As of February 2019, over 2.3 million houses, spread over 16,330 projects across India, were running behind schedule, data with real-estate consultancy Liases Foras show. To put this in perspective, only about 250,000 houses are sold on average annually in the seven largest cities of India, according to property research and brokerage firm Anarock. One of the remarkable facts about the Indian real estate sector is how fastidiously it clings to age-old ways of working, even when hit by a crisis. For instance, it is remarkably cold to the use of cutting-edge technology. The only visible use of modern tech so far in the industry has been in the planning and designing (computer-aided designs and 3D models) function, or in sales and marketing. In the latter, several online portals have sought to shift a buyer's journey from offline to online. Some of these portals even use augmented reality to produce 3D walk-through tours, allowing prospects to experience a new flat from the comfort of their old homes. That, though, is nearly all.This even when a host of technological innovations are available to address some deep-rooted problems affecting the real estate industry in areas ranging from finance & planning to on-site construction. This edition of CIO Insider throws light on some of those technology solution providers in the Real Estate domain. Le us know what you think.Emmanuel Christi DasEditoremmanuel@cioinsiderindia.comReal Estate and the Catapult of TechnologyOffice Editorial queries editor@cioinsiderindia.comAdvertising Queriessales@cioinsiderindia.comBangaloreTel 080 46441103 To subscribeVisit www.cioinsiderindia.com/subscribe/ or send email to: subscription@cioinsiderindia.comCover price is Rs 150 per issueAshok KumarSales & MarketingGarima AnandGroup Art DirectorMagendran PerumalCirculation ManagerEditorial TeamShiwani PrakashSaroop KP Rajan SarmaVaishnavi PradeepAnitha TLakshmi GCIOInsiderNo. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugheshpalya, Bangalore-560017S.SivasankarMohana KrishnanVisualizer PublisherEditorAlok ChaturvediEmmanuel Christi DasPrinted and published by Alok Chaturvedi on Behalf of SiliconMedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published at No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2020 SiliconMedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.Editorial
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