7 Ways Artificial Intelligence is Shaping Real Estate in India

The real estate sector in India has a dynamic landscape albeit complex. There are challenges for buyers, sellers, and renters. However, with the advent of artificial intelligence or AI tools, this landscape has evolved and is still doing so. It is an ongoing process. As such, these tools have changed the way people rent homes, and buy and sell their properties.

Have property listings become obsolete then?

Certainly not. Does it mean that browsing through listings and property viewings has taken a downside? The traditional methods of browsing through the listings, and attending property viewings still exist. To further boost this process, artificial intelligence tools or algorithms have simplified the processes.

How has the AI algorithm changed the real estate scenario?

With the help of these tools, you have better chances of getting exactly what you want. This is because they have the potential to analyze data, budgets, and client requirements about budget, location, and specific preferences.

Let us find out how artificial intelligence has revolutionized the sector in the country.

1. Advanced-level property search

   AI algorithm helps in processing and analyzing bulk data from different sources. This helps buyers to identify properties that they prefer and looking for. The main purpose of AI is to refine the search for you, regardless of the area, be it suburbs or the city center.

2. Vaastu compliant checks

   As Indians, we prefer to adhere to the norms of Vaastu. And this becomes easier with the help of AI. Many beliefs revolve around this 5000-year-old ancient architectural principle. As such, it is essential to make decisions related to modification and assessment. These days you will find that even renters look for Vaastu-compliant homes.

3. Documentation becomes streamlined

   The real estate market, regardless of whether it is commercial or residential involves a lot of paperwork. Documentation is related to transactions, sale or buying deeds, contract analysis, agreements, and compliance, and involves a lot of fine print. This is better managed with the help of artificial intelligence-powered tools.

4. Get Personalized Recommendations

   When you are searching for a property, you feed in the keywords related to what you are looking for. From your search history, the AI-powered tools will return customized suggestions. These tools ensure that you get personalized recommendations, whether that means your preferred location, amenities, budget, architectural designs and styles, and so on.

5. 3D Modelling and Virtual Tours

   Earlier, if you were looking for property, you had to physically visit these premises. But due to traffic jams and the increase in the number of vehicles in cities and towns these days, it may not seem to be feasible. Artificial intelligence has done away with the limitation. 3D modeling and virtual tours help you to catch a glimpse of the property right from the comfort of your home or office.

6. Estimating the cost of properties

   With AI, you will get the accurate cost of the property you intend to invest in. We know that prices differ depending on the location, market conditions, size (square feet), and so on. These minute details make it easier for the buyers and the sellers to negotiate the price.

7. Predictive Analysis

   Last but not least, AI technology helps you to keep tabs on the prevailing market conditions, probable fluctuations, and trends in the property market.

   In a nutshell, technology has increasingly served for the better and prove to be immensely beneficial for all the parties involved in the property deal.