Construction technology is fast evolving in the Indian real estate market. Construction industry is a major contributor to the country's GDP (8% in Financial Year 2012) and one of the largest employment generators that currently employs around 33 million people. The real estate market which was primarily revolving around the Tier I cities which fundamentally constituted of vertical developments majorly due to lack of space in the recent years has moved exponentially to the suburbs, extended suburbs, Tier II & III cities. . With space not limiting the development in the Tier II & III cities, we are now witnessing the growth of huge self-sufficient gated communities as well as modern commercial & retails projects with a wide range of offerings.
The exponential growth in the real estate development comprising of the high-rise buildings have been observing a long gestation period primarily due to the current conventional construction system being extremely time consuming and costly.
These continuous delays resulted in cost escalation which was borne by developers who ultimately had little choice than to escalate the price of property. This in turn resulted in these properties being unattainable to many. Coupled with escalating costs and acute shortage of skilled man power led the developers to look at alternate technologies apart from time-tested/conventional methods. Aluminium wall forms were the ones which suited this particular change. Proven to be economical as well as satisfactory for the overall construction environment, this technology is now used in countries like Europe, Gulf, and Asia including India