CHALLENGES FACED BY CONSTRUCTION SECTOR IN INDIA
Construction industry in value terms is expected to record a CAGR of 15.7% to reach $ 738.5 bn by 2022. It is expected to grow at 5.6% during 2016-20, compared to 2.9% during 2011-15. For this, India will be required to spend $ 454.8 bn on infrastructure development over the period of next five years (2015-20), with 70% of funds needed for power, roads and urban infrastructure segments.
Despite this potential of growth, the construction sector in India faces major structural issues. The issue of lack of transparency in term of quality, pricing, etc. along with inadequate delays and sub-optimal projects have resulted in trust deficit among customers. So, there is need of complete overhaul of the system to realise the opportunities offered by the sector.
Before discussing the services and solutions offered by Thikedaar.com let us look into some of the major challenges faced by the construction sector which our start-up aims to resolve and address.
Challenges of Construction Sector:
Lack of Transparency:
Construction sector is known for its opacity and lack of transparency. Anyone who wish to construct a house fears for felling in trap of being cheated. Construction sector being mostly unorganised, there exists no proper system for pricing with builders charging customers with unfair prices without any rationale. Also, there exists huge price gap between initial estimated cost and the final actual amount.
Lack of Digitisation:
Construction sector is largely run by contractors who relies on one-to-one meetings and do not use digital medium. This created digital and knowledge gap among contractors. Also, there is loss of potential clients in terms that the customers who lives at different location from their plot has no means to connect to the builders for construction. This opens a huge potential client base which the Thikedaar.com aims to capture by connecting the customer and builder online.
Lack of Client Satisfaction:
Client satisfaction is the end product of any business. But the construction sector faces trust deficit by customers on builders. This is mainly because the builders do not deliver what they promise in terms of quality, time and money. Also, there is no involvement of the stakeholders during the construction of project. Neither there is proper information system about the progress of the projects. So, there is a need of clarity and customer awareness by trust building and timely delivery of projects.
Material selection plays a key role in determining the strength of buildings and also its longevity. But this in India is mostly left on the mercy of builders. Builders in turn use sub-optimal material to lower the cost of construction and increase their profit. Compromising with the material leads to poor construction of building and cracks and leakages at early stages. This ultimately leads to unsatisfied customers who feel cheated even after spending huge amount of money.
Delays in Construction:
Delays in construction and delivery of buildings is a major failure of Indian construction industry. This leads to escalation in cost as well as dissatisfied customers. The delays maybe due to various reasons including lack of funds expenditure, labour delays, lack of mechanisation or government approval delays. But ultimately this leads to extension in delivery time. Also, the customer is not able to track the progress of completion of buildings on regular basis and remains in dark about the construction time. Thikedaar.com in its website has this exclusive feature where customers can track progress the completion status of their building on regular basis.
Why Choose Thikedaar.com?
Understanding the above challenges, our start-up Thikedaar.com came up with one stop solution for end-to-end management of construction projects.
The founder designed an algorithm-based website which offers customers to estimate the cost of their dream house based on the choice of selection of material. Further, it offers customers to choose Thikedaar.com as their construction partner and fix the material cost so that they are not affected by price fluctuations. The website offers progress tracker for keeping the customer informed about the progress of construction.
Additionally, the company offer experts advice for all your construction queries and offers you free design consultation from the best architects in the region.
Thus, through thikedaar.com we offer you best hassle-free services where you shape your dream house and we build them for you.