CREDAI Aims to Enable Complete Adoption of Artificial Intelligence in Real Estate industry by 2033
CREDAI intends to create a thriving tech led eco-system for developers, investors and other stakeholders to enable this transition
Egypt: CREDAI, India’s leading body in the real estate sector, today announced a definitive roadmap and slew of initiatives to expedite adoption of Digitization and Artificial Intelligence among developers in Indian Real Estate, at the 21st NATCON held in Egypt. CREDAI intends to create a thriving, tech led eco-system and aims to enable complete adoption of Artificial Intelligence and Modern Construction methodologies by Indian Developers by 2033 – empowering the real estate sector in India’s Amrit Kaal and compounding economic growth.
With technology gaining importance across all sectors of Indian economy, CREDAI wants to help its 13000+ developer members, especially from tier II and III cities, in getting access to new digital tools. The association will also guide its members in forging partnerships with technology providers, among other initiatives:
Enabling Nation-Wide Adoption of Artificial Intelligence
CREDAI aims to launch a Proptech and Data research committee and ensure pan India reach of Artificial Intelligence at the grassroot levels. A data centre development is also being planned by CREDAI, specifically for Real Estate sector, to collate micro and macro level data to enable AI driven predictive forecasting and trends for the sector.
Construction Time and Cost Optimization
CREDAI will also handhold its strong network of 13000+ developers to optimize construction cost and time, to provide high quality, sustainable homes. Integration of Artificial Intelligence in modern construction techniques and planning is expected to widely enhance construction quality, along with bringing down cost and time by around 10%.
Organizing Educational Workshops
CREDAI has decided that some of its state chapters will hold educational workshops to impart knowledge about all the latest technologies available and used globally in construction of real estate projects. Some of its developers, who are already using such technologies, will be invited to share their experiences. CREDAI will also rope in real estate consultants and proptech firms engaged in project management for creating awareness about the need to use the latest technologies in the overall construction cycle. In these workshops across major cities of India, CREDAI would also focus on educating its members about the need of graduating towards green buildings, especially in the residential segment.
CREDAI President Boman Irani shares his thoughts “Indian Real Estate is at the cusp of a technological revolution – and CREDAI intends on leading this charge. We want to create impact at both macro and micro levels; From integrating AI and modern technologies in construction, to financially backing and supporting start-ups solving real world solutions, CREDAI will build a real estate industry for the future – A future characterized by a remarkable shift in development methodologies that is set to change the face of the industry.”
CREDAI Chairman Manoj Gaur “It is a testament to the efforts of the Government and different stakeholders that we’re seeing establishment of modern, tech- led eco-systems across various industries. Indian Real Estate, in this context, is also set to be reshaped by the tech phenomenon and as a leading industry body, we will strive to work with the Government and other stakeholders to ensure a smooth transition for our developers and investors.”
CREDAI President Elect Shekhar Patel says “At CREDAI NATCON, we have consistently set industry benchmarks that have set legacies in the Indian Real Estate sector. This year, too, CREDAI has taken a lead in establishing a roadmap to inculcate a nation-wide technological adoption mechanism for our developers. We are fully aligned with the Government’s thrust towards sustainable development, and we strongly believe we will majorly contribute and lead this long term movement”.
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CREDAI Aims to Enable Complete Adoption of Artificial Intelligence in Real Estate industry by 2033
