How AI, drones, and predictive analytics can transform real estate asset management in India
real estate sector in India, a major contributor to economic growth, has traditionally relied on manual processes and outdated systems, making asset management inefficient. However, the adoption of advanced technologies like artificial intelligence (AI), predictive analytics, and drone technology is driving a paradigm shift. These innovations are addressing long-standing challenges, enhancing transparency, and opening up new opportunities for growth in a competitive market.
Challenges in Real Estate Asset Management
India's real estate sector, a vital contributor to the economy, has faced persistent challenges in asset management due to outdated practices and fragmented systems.
Inefficient Data Management:
«Many firms store property details, financial records, and tenant information in disjointed formats, creating inefficiencies in decision-making. This fragmented structure hampers seamless data integration, which is essential for managing projects across cities like Mumbai and Bengaluru,» Sangram Baviskar, Managing Director, Real Estate Solutions, TruBoard Partners said.
Reliance on Manual Processes:
Manual tracking of project costs, compliance, and cash flows remains prevalent, often resulting in errors and delays. Critical tasks like obtaining No Objection Certificates (NOCs) are paper-driven, consuming valuable time.
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