Real Estate Getting Techie

Rising demand for space, strict deadlines, the best possible prices, and a booming industry, this is what anyone will find after stepping in the arena of Indian real estate. This encouraged Indian construction companies and prominent real estate developers to take on software solutions. However, adoption of any modern technology by the real players of the sector at this crucial stage should not come as a surprise for most.

And that in turn has suddenly paved the way for a plethora of opportunities for the software industry. Most pioneering realty firms have taken the assistance of IT in some form or other to strike a difference. Technologies like ERP (Enterprise Resource Planning), CRM (customer relationship management), SCM (supply chain management) and BI (business intelligence) have been helping companies for long. Now, it is a turn of Indian real estate sector to leverage the advantages of same.

Here, it does not mean getting a computer to enter mere entries or managing leg work buy to develop breakthrough technical solutions for project, all by the click of a button. Such software brings a number of benefits, the fact which is wholly accepted by Mfar Holdings, a Bangalore based real estate company, which bought Rs. 15 lakh for realty software jointly developed by Sonata Software and Microsoft. The software SonnetConstruct, helped the company to successfully complete two projects over $1.2 million sq. ft. on time.

Nitesh Estates is in process to finalize a combination of software from Oracle, Wipro, and SAP. The renowned group is to enter new segments like hotels and newer geographies. The existing basic software is inadequate to integrate growing diversity, or to handle the upcoming complexities, says the company’s MD Nitesh Shetty.

Software that is widely used to draft the solutions for such projects. But, a number of real estate players are stepping in realty IT space, including those like Sonata and US-based Aurigo Software. When Sonata pondered over the possibilities of a boom in this sector two years back, it immediately at Microsoft ERP solution Dynamics Axapta and developed on its base line to come up with a solution for the real estate vertical.