Gurgaon, July, 05, 2017 – The construction industry is rapidly changing and new materials, construction technologies are being introduced on a regular basis. Execution of construction projects and their delivery in a timely manner has become a prime concern for developers in view of the buyer’s agitation on delay in construction. Especially after RERA, which emphasizes the need of timely completion of projects, adoption of modern technologies has become the need of the hour to survive in the market for a developer.  

Around 2 million homes need to be built by 2022 to achieve the ambitious goal of Modi Govt.’s ‘Housing for All’. As per Colliers Research, to achieve such a huge objective, it is imperative to adopt newer technologies at a much faster pace. Adoption of such technologies will not only reduce the turnaround time but also improve the quality and durability of construction and help in generating more interest in affordable housing projects among buyers.

“Rising industrial, residential and commercial growth is driving the demand for faster construction and world class quality. It has become imperative to use newer products and technologies to meet this increasing demand. Construction industry in India is at the cusp of disruptive change with new materials, building technology, software, digitization and artificial intelligence changing the way we conceptualize, build and use our buildings”, says R Shobha, National Director, Project Management, Colliers International India

Private developers are continuously exploring new technologies that improve the quality, strength and safety of the buildings. In metro cities, few developers have started using technologies such as self-climbing formwork, Aluminum Shuttering, precast concrete technology and dry wall systems. These technologies are not only cost-effective, but offer advantages such as minimal labour force, higher earthquake resistance, more durability than conventional building techniques, higher carpet area, smooth finish on walls and lower on maintenance.

Although Aluminum shuttering technology increases the overall cost on construction, it reduces the construction time which will allow developers to start sales earlier than planned. In this era, where timely delivery of the project is one of the prime concerns owing to regulatory reforms, escalating construction costs and maintaining strength in the structure, these technologies are gaining popularity among developers. In conventional building techniques, transportation of building material, such as bricks, wastage in materials during carriage and handling makes it expensive than aluminum shuttering techniques.

Precast construction technique is also popular not only among developers but also with the government. In Maharashtra, MHADA builds affordable housing using precast technique which is cost effective, speedy and easy to install than traditional building techniques. In precast concrete technology, building components such as columns, beams and slabs are cast in the factory & cured using autoclaving and transported to the construction site where these components are fixed and stacked into each other as per the layout design. Although some of these construction techniques are more expensive than the conventional construction methods, they reduce the construction time by almost 25-30% allowing the building to be used earlier, thereby bringing cost advantage to the developer and the user.

Colliers research further believes that with the rising demand for affordable housing in urban areas, policy reforms such as Public Private Partnership, etc. provision for affordable housing projects and use of state-of-the-art construction techniques that are likely to attract private developers as well. Many private developers are already using these technologies that provide a boost to affordable housing and achieve the target of 2 million homes by 2022.

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About Colliers International Group Inc.

Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry-leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customised research; and thought leadership consulting. 

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