Pune: The landscape of home buying is undergoing a revolutionary change in Pune, thanks to the adoption of virtual reality (VR) technology by real estate developers. Aspiring homeowners can now step into a potential living space virtually, gaining a comprehensive understanding of the layout, interior design possibilities, natural light, and surrounding areas, without relying solely on physical visits or traditional presentations.
While VR technology has been in existence since 2015, Pune’s real estate market has recently witnessed a surge in its use, with realtors leveraging it to attract a tech-savvy clientele. Angad Taur, a house-hunting individual and a faculty member at a city university, highlighted the limitations of relying on existing designs or models. “Seeing the actual building in a virtual space would give the buyer a better understanding,” Taur stated, emphasizing the value of VR in eliminating doubts and enhancing clarity for potential buyers.
Ajay Parge, the founder of Digital Art Media, a company that has provided VR technology to numerous city-based developers, noted that while VR tech originated in gaming and entertainment, its application is expanding across various industries. The real challenge lies in ensuring that the technology not only enhances user experience but is also aesthetically appealing.
Despite the potential benefits, some users have faced challenges with VR technology. Smita Kadam, a 37-year-old researcher who recently bought a house, shared her experience of feeling dizzy and struggling to navigate the virtual space. To address usability concerns, Parge’s company has focused on creating user-friendly models, simplifying the VR experience by requiring users only to sit on a chair to explore a virtual space.
Industry experts believe that the growing number of tech-savvy homebuyers, particularly in the 20-30 age group, creates ample room for VR technology to thrive in the real estate sector. However, the adoption of VR has been slow among realtors due to the high costs associated with the VR goggles, priced at approximately Rs50,000 per pair. The challenge lies in making the technology more affordable without compromising its quality.
As the real estate industry adapts to the demands of a younger, tech-oriented clientele, the entrance of tech giants like Apple into the sector may contribute to reducing costs and making VR technology more accessible. The ongoing evolution of VR in home buying is expected to improve conversion rates and reduce costs for developers, marking a transformative shift in the real estate landscape.
