June 22, 2022
Mr. S. S. Reddy, Managing Director, Featured article on Realty+ Magazine
India itself is a sub-continent that comprises landscapes of diverse weathers and demographics. In a densely populated country like India, the perennial complexities faced by the construction industry include material costs, supply chain irregularities, and labor and skill shortages, among many others. Realty+ spoke to the well-established global and domestic leaders in this segment on the challenges, opportunities, and new digital approaches in the Indian construction sector.
The latest data from the World Economic Forum suggests that more than 70% of the global GDP will be generated from construction by 2050. The forecast acknowledges the role and significance of the construction industry in the economy but also makes us ponder on the challenges the sector faces in resiliency, technology, equity, and sustainability across the countries.
While the aspects of resiliency, equity, and sustainability are in check, the subject that demands a revolutionary approach is ‘technology’. When asked about the impact of technology on the construction industry, people, and businesses, the Managing Director of Aparna, Mr. S.S. Reddy gave his opinion explaining the factors that play an important role in altering the dynamics of the realty sector, especially in India.
“India’s urban planning initiatives depend heavily on smart and sustainable cities, wherein in technology will play a massive role. These smart cities have underlying themes including device connectivity, utilization of big data, and creation of feedback loops. Smart Cities Mission is an urban renewal and retrofitting program by the Government that aims to develop 100 cities across the country making them citizen-friendly and sustainable. India has
unique challenges due to its large population and fragmented social infrastructure.
Innovative technological approaches to housing, transportation, and utilities will have to be implemented in order to overcome these challenges,” stated Mr. S.S. Reddy.
Further intricacies and the inevitable impact of Technology on the Indian realty sector are explained by Mr. S.S. Reddy in the section published in Realty+ magazine, where he said, “the overall goal for the sector is to improve the lives of residents and the community while
safeguarding the environment. Technology plays a big role in these efforts. The pandemic, especially, forced a transformation upon the construction sector with the use of technology expanding to other services such as administration and procurement. The need for operational efficiency and digital transformation can no longer be taken for granted. It is
imperative to continue the growth of the sector. This is an opportune time for previous industry practices to be reassessed and for new systems to be introduced including AI and Data Analytics. This applies to all traditional fixtures of the sector such as ERP, project management, and customer service.
To read the article in full depth alongside in the magazine, click on the link below:
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