Lohia Worldspace, the newly entrant real estate player is leading a groundbreaking shift in real estate by incorporating advanced virtual reality (VR) technology into the homebuying process. This forward-thinking approach enables potential buyers to fully engage in virtual tours of their future homes, allowing them to personalize every aspect, from furnishings to paint choices, even before construction starts.
With the VR technology offered by Lohia Worldspace, clients can don a VR headset and navigate through highly detailed, interactive 3D models of properties that are still under development. This immersive experience enables buyers to make real-time adjustments and visualize their future homes with unprecedented clarity and precision.
“At Lohia Worldspace, we believe that quality housing enhances living standards and fosters community growth. By leveraging VR technology, we provide our clients with interactive virtual tours of our properties, enabling them to customize their future homes from the comfort of their own homes. This technology not only helps buyers make more informed decisions but also allows them to experience their potential living spaces in a way that traditional photos and videos cannot offer,” says Pyush Lohia, Director of Lohia Worldspace.
Across tier-2 cities like Moradabad, where many local developers still rely on traditional methods to showcase properties, Lohia Worldspace offers innovative solutions to its customers through VR technology. Buyers, who may not be accustomed to such immersive experiences, now have the opportunity to virtually walk through homes, gaining a clearer understanding of the space and layout. This significantly reduces the uncertainty typically associated with buying properties under construction.
The introduction of VR in real estate addresses a common challenge faced by buyers of properties under construction—visualizing their future homes. VR provides a lifelike, real-time experience of the property, aiding buyers in making more informed decisions. Industry reports indicate that the AR and VR market in India is expected to reach USD 0.789 billion by the end of 2024, with an expected annual growth rate (CAGR) of 9.74% from 2024 to 2029. This growth trajectory is estimated to bring the market volume to USD 1.256 billion by 2029. In contrast, the global market is expected to grow at a CAGR of 8.97%, reaching an estimated volume of USD 62 Billion by 2029.
Lohia Worldspace’s adoption of VR technology sets it apart from local competitors. While most developers in the region still focus on traditional blueprints and physical models, Lohia Worldspace enables clients to engage with their future homes in ways that local buyers have not experienced before. This competitive advantage ensures that Lohia Worldspace is not only offering homes but also revolutionizing the entire buying process with technology-driven solutions.