CXOToday has engaged in an exclusive interview with Mr. Neeraj K Mishra, Executive Director, Ganga Realty
- Can you tell us about your background and how you got involved in the real estate industry?
I am a seasoned professional with more than 20 years of experience in the architecture and construction industry. My expertise lies in managing large-scale projects, having successfully overseen the design of over 70 million sq. ft of space with a focus on sustainable architecture. With extensive experience across diverse sectors, including new construction, alterations, public and private projects, and commercial and residential spaces. I believe in involving all stakeholders, including clients, engineering, disciplines, and contractors, and using agencies, to identify project requirements before beginning the design. I can proudly say that I have got the best team of professionals, leaders, managers, and workers within the Ganga Realty team, driven by a single vision to redefine the landscape of Indian real estate through pioneering vision and adoption of high-tech construction technology.
- How do you see technology changing the real estate industry in the next 5-10 years?
The real estate sector, more proactively, in the last three years, has not shied away from incorporating technology to augment sales and visibility. Proptech is one of the significant technological revolutions that have changed the general people’s outlook towards the real estate sector in the post-pandemic world. It is much contrary to the antiquated view that the real estate sector is traditionally insular. Maintaining online and digital presence, facilitation of virtual home tours, online bookings, and payment systems have become the new facets of the era of technological adoption by the real estate sector. Technology is not just confined to the surface level. Developers are launching eco-friendly projects, following IGBC guidelines, committing to curb carbon footprints, and using green technology like solar panels to ensure energy efficiency in their project ventures. This is another growth phase for the real estate sector in which development activities and the planet’s health would be taken care of at the same time with the use of sustainable and green technology. These trends are likely to bounce by greater magnitudes in the next 5-10 years.
- What role do you see science and innovation playing in the development of smart homes?
With the changing times and growing affinity of homebuyers towards convenience and comfort, Smart homes have become the new end-user liking. Science and Innovation are the mainstays of smart homes. The existence of smart homes is impossible without scientific innovation. In a smart home, a person can perform any function like controlling temperature, switching lights, and security controls/access, through a mobile or networked device. We can call this a new era of greater technological adoption in real estate assets to improve product quality and cater to homebuyers’ demands.
- How do you ensure that your company stays at the forefront of technological advancements in the real estate industry?
To ensure that our company stays at the forefront of technological advancements in the real estate industry, we have established a dedicated research and development team. This team is responsible for monitoring emerging technologies and identifying opportunities to integrate them into our projects. We also collaborate with leading technology companies and startups to stay up-to-date with the latest innovations.
- What are some of the challenges you’ve faced while integrating technology into your real estate projects?
One of the biggest challenges we’ve faced while integrating technology into our real estate projects is ensuring that it is user-friendly and easy to use for our customers. We have learned that it is important to take a customer-centric approach when developing technology solutions, as this ensures that they are tailored to the needs and preferences of our clients.
- Can you share an example of how you are using technology to enhance the home buying or selling experience for your clients?
We are using technology in several ways to enhance the home buying and selling experience for our clients. For example, we have developed an immersive mobile application that allows clients to search for properties, view virtual tours, and access property information in one go. We are also using virtual and augmented reality technology to provide clients with immersive property tours.
- With the growing popularity of smart homes, how do you address concerns around data privacy and security?
We take data privacy and security very seriously, especially when it comes to smart home technology. We have implemented robust security measures to protect our client’s personal information and ensure that their data integrity and confidentiality are not compromised. We also provide our clients with information on how to secure their smart home devices and protect their data. It is easy to understand and recall.
- How do you see artificial intelligence and machine learning impacting the real estate industry?
We have an intelligent customer base today. Artificial intelligence and machine learning are already having a significant impact on the real estate industry, and we expect this trend to continue in the coming years. AI-powered tools are being used to analyze data, predict market trends, and automate processes, which is helping to streamline the real estate transaction process and improve efficiency. Machine learning also allows buyers to have a look at a project and its surroundings and helps users in understanding whether it is a good choice from an investment point of view.
- What advice would you give to individuals or companies looking to incorporate technology into their real estate projects?
Our advice to individuals or companies looking to incorporate technology into their real estate projects is to start small and focus on user experience. It is essential to understand the needs and preferences of your clients and develop solutions that sate their demands. It is also important to stay up-to-date with the latest technology trends and collaborate with high-key professionals and doyens in the field.