Building Information Modeling is known as BIM. There are different ideas and opinions about this latest technology. In fact, there are several misconceptions about what it is.
Firstly, BIM is not the same as 3D CAD designing. It is much more detailed and intricate. In today’s market scenario, the time has come for real estate to make use of technology. BIM helps to build better residential and commercial projects.
Right. So what is BIM?
Business Information Modeling is a process where the model of a building/ project is designed electronically. It includes all possible details about the project so that the architects, as well as the prospective clients, have access to more information.
For example, when you click on a wall or a roof of a building, it will give you details about-
- How much it would approximately cost to construct that part,
- How long it will take to complete it,
- Which raw materials are required, and so on.
How is BIM Used?
Risk management is an integral part of business real estate. When builders invest crores of rupees into a project, they need to make sure that they don’t end up with losses. Architects use BIM to create a comprehensive plan for the project. It helps understand how climatic changes and other external factors can cause issues.
BIM is not restricted to any single type. Moreover, it needs to be used by all parties involved in the project.
- The architects use it to visualize designs in 3D models and make the necessary changes. There is no need to rely on the age-old method of drawing the designs by hand. BIM makes it possible to create a computerized image that can be edited as and when required.
- The developers use BIM to understand the overall cost requirements and the time duration for the project.
- The contractors and construction managers use BIM to estimate how much material would be needed and when. It will help streamline the management of labor and inventory.
- The building managers also use BIM as it makes it easy for them to track and track maintenance services. They will know the strength of the structure and can check which areas need repairs and renovations.
Based on the changing property trends in India, we can say that adopting BIM will make the entire process more efficient and effective. The builders can save costs and complete projects in less time.
There will be more sync between various people involved in the process. The marketing and sales teams will be well-equipped to create a promotional strategy and identify prospective leads.
By using BIM technology, real estate companies can increase safety standards as well. It works in multiple ways.
- The laborers will have more safety on the construction site.
- The buildings will have more robust and better designs.
- The construction quality will increase, thereby leading to long-lasting homes for the buyers.
When the BIM model is handed over to the asset management team, they can use this technology to compile a central database. They can also plan the maintenance services based on the details provided by the BIM model.
Real estate news from around the world shows that the US is investing more into BIM than the UK or other countries. A good number of real estate companies have begun adopting BIM in India. Still, it is clear that we need a much broader adoption of this technology to ensure that the market is thriving with opportunities.