Many construction projects in India are already delayed because of lengthy/multi-window processes of approvals. The shortage of labor leads to another 8-9 months of delay. According to The Confederation of Real Estate Developers’ Associations of India (CREDAI), the industry is grappling with a 40 per cent labor shortag
Many construction projects in India are already delayed because of lengthy/multi-window processes of approvals. The shortage of labor leads to another 8-9 months of delay. According to The Confederation of Real Estate Developers' Associations of India (CREDAI), the industry is grappling with a 40 per cent labor shortage.
With housing demand expected to be three-fold by 2020, the problem will only exaggerate in the future. In this scenario, technology has grabbed the opportunity by making the delivery faster and cost-effective. The traditional ‘brick and mortar' construction is giving way to new techniques through which a building which used to usually take three years to complete can now can be constructed and used in nearly 18 months. Though the cost of using these techniques will increase construction costs, but it promises high efficiency and less wastage.
In addition, the labor costs can be brought down, bringing down the overall cost for large buildings/projects. Also, an effective use of automation technique helps in reducing finance costs as products are then delivered on time.
Technology has now become an integral part of India's construction industry. This has ensured that the work is completed on time despite the labor shortage. Going forward, India will require trained and skilled laborers in huge numbers for using these automation techniques, implementing them and delivering quality.
With growing needs and limited resources, the Indian realty sector will be seen welcoming new ways of construction in times to come.