Virtual Reality
Source: nytimeseal

Buying a home is a lifetime decision. People often shell-out their lifetime earnings to secure a ‘dream’ home. But how close an under-construction property is, to its projection? How many gets satisfied with the apartments that they receive upon its completion when compared to its projection?

To answer all these queries, here is a gen-next technology ‘Virtual Reality’. After detecting many discrepancies amongst how the projects are presented to the buyers, how buyers perceive the project and what is the end-product which is delivered to the buyers, an architect couple Gautham and Tithi Tiwari launched the project ‘Virtual Reality’ (VR) known as SmartVizX. Started 2 years back, this Noida-based architectural design firm has already worked with six real estate project companies.

Located in Sector–16 Noida, the firm implements the virtual reality to adapt real estate projects for the builders in India as well as abroad. But sometimes even these 2D designs don’t exactly express a project to prospective buyer. Thus, buyers remain unsatisfied with what they receive and what is depicted in the project’s brochure. But VR brings the real experience of living in yet to be made apartments.

A mix of gaming software, architectural design, this technology is adapted for real estate market to deliver a virtual experience of the project. All you need to do is to put on the VR headgear which contains a VR adapted plan via an app and get ready to explore the enticing experience of walking through the house. Each and every detail about the house like checking out its walls, the intensity of sunlight to be expected to enter each room, the kind of furniture to suit the flooring etc. can be answered perfectly. The real experience living in a yet-to-be-made apartment actually clarifies how close the prospective project shall be on its completion to what is projected in the builder’s brochure.

The cost of upgrading from 2D architecture to Virtual Reality platform is somewhere around Rs.5 Lakhs to Rs. 20 Lakhs depending upon the project. In some cases, it may also go beyond 20 Lakhs as well. It is like almost there explained the head of Virtual Reality Chandan Singh. The most interesting fact is that the client can even understood the virtual layout of the project, much ahead of the client even signing the first cheque.
Being an expensive technology, it is majorly used in luxury and high-end housing projects. People who are investing from abroad find it more suitable and useful. However, the technology is yet to pave its way to the affordable sector of real estate. For this segment, booking of houses is still done on the basis of sample flats.

But overall, VR selling is emerging as the next big way of doing real estate business by bringing informed and experiential projects to its customers. A great way to bridge the gap between project presentation by builders and the way it is percept by the buyers.