By: Mr. Keshav Agarwal, Director, Srijan Realty
The real estate market has changed from massive complexes to smart homes as a result of the fusion of technical advancements with the traditional value of home ownership. By incorporating state-of-the-art technology, digitalization has revolutionized Indian real estate and luxury living by making homes more responsive, cozy, and secure whether accessible through a computer or smartphone. Artificial intelligence (AI) has changed the way people live by bringing in sensors, appliances, and gadgets that can communicate with one another and be operated from a distance.
A recent survey by Security.org found that 78% of respondents are willing to pay more for smart homes. Additionally, 82% of renters desire at least one smart home appliance. This is because, in addition to producing smart homes, combining various home automation technologies has increased property value. Home use has changed as a result of voice-activated controls. Virtual assistants allow users to control their home’s lighting, music, and security systems with their voice. Saying “turn on the lights” as soon as you enter the house, for example, completes the mission.
In the same way, energy-saving lights, intelligent plugs, and smart temperature controls are groundbreaking. These technologies reduce carbon emissions and energy costs by helping individuals manage their energy usage. For example, a smart thermostat guarantees comfort and savings by understanding the daily routine and automatically modifying the temperature.
In today’s world, home security is a significant issue for homeowners, with smart homes greatly improving this feature. Smart doorbell cameras and motion sensors allow people to keep an eye on their homes at all times. These AI-powered technologies facilitate the swift recognition of possible dangers and notify homeowners immediately. Consequently, this improves the security of both the premises and its residents. Moreover, due to the progress of smart locks, people are not obligated to rely on traditional keys anymore. People can now access their homes by using PINs, OTPs, Bluetooth, and multiple other techniques. The keyless entry system has granted homeowners enhanced access and control over their residences. By employing these simple yet sophisticated access controls, homeowners can provide temporary entry to visitors and others while monitoring their access logs in real-time.
Consequently, NMSC forecasts that the Indian smart home market’s worth will reach USD 15.31 million. Various factors have contributed to the success of this flourishing market. Elements like increased urbanization, rising disposable income, advancements in technology, and changing consumer preferences play a role in this. Government initiatives and the rise of smart cities also play a major role in boosting this expanding sector across India.
In the end, AI and smart home technologies are revolutionizing the way people live by improving convenience, security, and energy efficiency. With rising demand and market changes, these technologies are poised to influence the future of real estate, providing smarter and more sustainable living options tailored to modern lifestyles.