The real estate sector in India has come a long way from being dominated by a handful of players in the 90s to an expanding base of developers, investors and global stakeholders buoyed by the growing construction industry in the country. Not only does it generate a high level of direct employment, but it also stimulates the demand in over 250 ancillary industries such as cement, steel, paint, brick, building materials, consumer durables and so on.
Emerging technological trends like BIM models are redefining the real estate space of India and taking it to the next level, for both now and in the future. Technology is rising as a catalyst of change for the real estate companies of India – be it construction, project management, marketing, business management or customer service.
Real Estate is the second-largest employment-generating sector after agriculture in India. The Indian real estate market is expected to reach $90 billion by 2015.
The fall of the rupee is encouraging more investment by Gulf-based non-resident Indians (NRIs) into the realty market which offers relatively higher returns. ”The constant depreciation of the Indian rupee in the past six months is perceived as an exciting opportunity for NRIs to invest in real estate. There will be a demand for over 24.3 million new dwellings for self-living in urban India alone by 2015. FDI inflows into this sector are estimated to be between €3 billion or Rs. 209.59 billion and €3.50 billion or Rs.244.50 billion.
- Input costs have remained high and increasing
- Shortage of skilled labour, high risks for workers
- Construction costs estimations
- No collaborative among various parties(customers, contractors, specialists, suppliers etc.,)
- Design Changes
- Time, work effect consumption
- Error, rework possibilities are higher
- Concerns on quality and productivity of the project
- Unorganized market
- Seldom Virtual environment work
Building Information Modeling or BIM is the process of generating a realistic model of a proposed project and exploring its details before the actual construction begins in the real world.
BIM is an integrated process built on reliable digital project information from design to construction, to benefit the biggest audience possible needs. BIM is a process and not software. So adopting BIM can be adopted by all.
BIM goes beyond the planning and design phase of the project, extending throughout the building life cycle, supporting processes including cost management, construction management, project management and facility operation. The resulting building information models become shared knowledge resources to support decision-making about a facility from earliest conceptual stages, through design and construction, through its operational life and eventual demolition.
In India BIM is also known as VDC: virtual design and construction (VDC).
§ Better outcomes through collaboration: All project partners – different design disciplines, the customer, contractor, specialists and suppliers – use a single, shared 3D model, cultivating collaborative working relationships.
This ensures everyone is focused on achieving best value, from project inception to eventual decommissioning.
§ Enhanced performance: BIM makes possible swift and accurate comparison of different design options, enabling development of more efficient, cost-effective and sustainable solutions.
§ Optimised solutions: Through deployment of new generative modeling technologies, solutions can be cost-effectively optimized against agreed parameters.
§ Greater predictability: Projects can be visualized at an early stage, giving owners and operators a clear idea of design intent and allowing them to modify the design to achieve the outcomes they want.
In advance of construction, BIM also enables the project team to ‘build’ the project in a virtual environment, rehearsing complex procedures, optimizing temporary works designs and planning procurement of materials, equipment and manpower.
§ Faster project delivery: Time savings, up to 50%, can be achieved by agreeing the design concept early in project development to eliminate late stage design changes; using standard design elements when practicable; resolving complex construction details before the project goes on site; avoiding clashes; taking advantage of intelligence and automation within the model to check design integrity and estimate quantities; producing fabrication and construction drawings from the model; and using data to control construction equipment.
§ Reduced safety risk: Crowd behavior and fire modeling capability enable designs to be optimized for public safety. Asset managers can use the 3D model to enhance operational safety.
Contractors can minimize construction risks by reviewing complex details or procedures before going on site.
§ Fits first time: Integrating multidisciplinary design inputs using a single 3D model allows interface issues to be identified and resolved in advance of construction, eliminating the cost and time impacts of redesign. The model also enables new and existing assets to be integrated seamlessly.
§ Reduced waste: Exact quantity take-offs mean that materials are not over-ordered. Precise program scheduling enables just-in-time delivery of materials and equipment, reducing potential for damage.
Use of BIM for automated fabrication of equipment and components enables more efficient materials handling and waste recovery.
§ Whole life asset management: BIM models contain product information that assists with commissioning, operation and maintenance activities – for example sequences for start-up and shut-down, interactive 3D diagrams showing how to take apart and reassemble equipment items and specifications allowing replacement parts to be ordered.
§ Continual improvement: Members of the project team can feed back information about the performance of processes and items of equipment, driving improvements on subsequent projects.
and BIM Solutions
Building Information Modeling is essentially a process that is still not a part of the working process of Indian architects and designers. As BIM technology is being used for the most complex buildings in the world, it is still at a very early stage of development.
Indian counterparts have still not captured the full potential of BIM technology for visualization and walkthrough developments. But few players in the market are moving towards this technology and adopting for their current and future endeavors.
Key reasons that are compelling this technology to spread fast are:
The main and key issue is that of costs as in a developing country like India where skilled as well as unskilled labor comes relatively cheap and largely available, the tendency towards shifting to an apparently costly technology gets diluted and have discouraged companies to move on to technologically advanced solutions like BIM.
There is a lot of outsourcing of BIM services to India by US, UK and European countries as Indian services are much more cost-effective and easily available.
Though it faces a few challenges today, Building Information Modeling is anticipated to be received really well in the coming years in India owing to its enormous advantages and invariably huge contribution to the Indian architectural and construction sectors.
There are only very few real estate players in the market who runs the virtual tours. The opportunity is very big in this area. Seldom players are providing the virtual tours in Indian Market.
There exists some virtual application service provides in the market who provide their services to
§ Real Estate Industry
§ Educational Institutions
§ Hotels & Resorts
§ Hospitals & Health Care Centers
§ Shopping Malls
§ Tourist Attractions
The Architecture, Engineering, and Construction industry lags behind the manufacturing industry in terms of efficiency and productivity growth. Adopting the new technology called Building Information Modeling (BIM) has been a new call in the real estate industry globally.
Viscenario’s expertise in providing solutions for real estate industry by implementing the BIM technology through complete “Building Life Cycle” will be the Unique Selling Proposition (USP) and can pitch into the market with this product.
In India targeting the small and medium sized companies for this technology may be an advantage. As in the case of architects in India small companies are possibly more dynamic and eager to use new BIM applications than big realty giants. Large organisations have longer decision processes, which could explain this difference.