India is experiencing huge demand for housing, and it is recognized that conventional construction technology is one of the primary reasons for this demand–supply imbalance. Impact of the construction technology on housing projects is widely acknowledged by most countries across the globe. Amongst all the advanced construction technologies, it has been realized that Industrialized Building systems especially precast construction technology can help in bridging the supply–demand gap. Several developed and developing countries including India initiated the precast technology in the early 1950s; however, the adoption rate is significantly low predominantly amongst the real estate players. This paper aims to explore the various influencing factors for the adoption of precast construction technology through extensive scientific studies from various countries. Paper has systematically identified the various indicators based on the critical attributes from the diverse research studies. Paper has identified the advantages of utilizing this clean & green technology in the form of time, quality, life-cycle-costing, constructability, sustainability, and safety among others. Identified factors were further analysed and categorized using multiple rounds of expert’s survey. Findings suggest that factors such as Decision Making, Logistics, Opportunity for Standardization, Project Coordination, Frequency of Changes in Design, Integration with Existing Technologies, Company Scale, Modular Design, and Initial Investment are ranked top 10 factors causing restricted utilization of this technology in developing countries like India.