Technology incorporation in real estate offers high end user benefits: Pushpamitra Das,...

Technology incorporation in real estate offers high end user benefits: Pushpamitra Das, Z Nation Lab

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Z Nation Labs

 

The degree to which technology has seeped into our daily lives in unfathomable and, today, there is hardly anything personal or professional, for which we do not rely on technology anymore. Home automation has been a much discussed subject but all its offerings and benefits have been till date limited to premium developments due to the high cost of implementation and maintenance. But as technology advanced, the same services are now available at a fraction of the earlier cost and developers, across segments, are relooking at designing boards to incorporate them in their product development.

Pushpamitra Das, Mentor & Venture Partner Z Nation Lab
Pushpamitra Das

Pushpamitra Das, real estate veteran and mentor at Z Nation Lab, has pioneered into developing a consortium of real estate-linked app developers focussed on providing home automation services. Numerous leading developers are now piloting with him across project categories to provide tech-based amenities along with the tradition set of expected luxury products.

Manish Joshi of NewsBarons connects with Pushpamitra Das to understand how technology will redefine developer offerings, who stated ‘Developers are looking at delivering innovative solutions but are vary of passing on the costs to end users.’

NB: Tell us about innovationatcore?

Pushpamitra: I have been part of the real estate sector for over a decade and if you observe closely, nearly all end-user amenities offered are standard and there is huge scope for technological inclusion in the segment that provides consumer convenience, benefits and savings. Post my association with Z Nation Lab, a startup accelerator based out of Mumbai and Silicon Valley, I have leveraged my experience in real estate industry to focus on real estate driven apps. In a short period, we have been able to get traction and identify over a dozen real estate focussed apps that can be implemented at design stage or post development and which are cost-effective, durable and manageable on smartphones.

NB: What has been the learning’s from the real estate segment?

Pushpamitra: Most of the leading developers are open to adopting technology into their end-user offerings. Cost of implementation was the main concern as developers did not wish to further burden end users with additional spends.

NB: You have created a consortium of real estate driven apps for the industry. Why not concentrate on one app at a time and promote it?

Pushpamitra: Our intention is not to sell a product but incorporate tech-driven services that have long-term benefits for the end users and developers as well. Our tech defined offerings cover basic amenities like parking, electricity, water management, atmosphere control and security of homes/ entire premises and project management during the construction phase. With this, we are trying to introduce tech-driven services into the RE space and soon will introduce other sector focussed apps from overseas to further strengthen our offerings.

NB: What is the overall growth possibilities for RE driven apps in India?

Pushpamitra: Technology application in real estate is in its nascent stage and there are limitless possibilities for growth with the amount of RE development happening across all locations in India and also, on account of, our dependency on technology. We are already witnessing the development of over 100 smart cities and this, we believe, will also fuel the need for smart homes in the future.

NB: Do you believe that technology will help redefine developer driven amenities for end consumers?

Pushpamitra: Today, we are dependent on technology for our personal and professional requirements as it provides us with convenience, savings and instant gratification. In the RE space, leading developers are aware of technological disruptions but technology inclusion has been selective due to high incorporation cost till date. Advancement in technology has lowered acquisition and implementation cost for developers and it also provides long-term benefits to developers and consumers both. With the incorporation of technology by leading developers, the demand for smart homes will soon lead to technology acceptance, across the developing community, as a standard practice.