Why is The Demand For SMART HOMES in The Indian Real Estate Market Increasing?

India has a rapidly expanding middle class with a growing quantity of discretionary cash. This has resulted in a boom in the residential real estate market and also in the luxury residential real estate market, with property developers catering to this expanding clientele. There have been multiple new tredns being observed in recent years including an increase in the demand for branded properties, demand for homes in smaller urban centres, increase in demand for weekend homes in secondary marketplaces, etc.

However one trend that has been hugely prominent is the phenomenal demand for Smart Homes in India, especially in the major metros and developing Indian cities. New home buyers in India are ready to shell out that extra money to procure their smart home that has cutting-edge technology and other smart features built-in at the time of delivery.

Demand for Smart Homes in India is on the RISE

While convenience is one of the reasons why Indians want a smart house, security is the most important attribute. Home security requires video door monitoring, night vision equipment, and integrated motion-sensing cameras. Additionally, smart houses have sensors for entry, fire, and gas leaks.Whether it's automation, remote access, improved security measures, or eco-friendly amenities, tech-savvy houses provide a variety of advantages to purchasers seeking contemporary luxury.The majority of people today use Internet of Things (IoT) technologies that make daily living more easy, such as smart speakers, smart refrigerators, and other IoT devices. Ultimately, the convenience of life made possible by technology is unequalled. In addition, a professional real estate consultant, Prathamesh Ghadigaonkar, feels that on the current real estate market, the majority of real estate developers are delivering smart houses with intelligent features due to the rising demand from purchasers.And according to a survey by a prominent market research and consultancy firm, the Indian smart home automation market is projected to develop at a compound annual growth rate (CAGR) of 29.8 percent between 2019 and 2026, reaching over USD 13 billion in value.

Both purchasers and developers are prepared to capitalise on this increasing market. In light of this, let's examine how automated and smart houses are reshaping the Indian housing industry and what home purchasers might anticipate from such environments.

AUTOMATION OCCUPIES THE TOP PLACE

Currently, urban purchasers see their hunt for intelligent houses as a luxury requirement. Incorporating technology into the development of luxury houses is the much-needed innovation that buyers must seek for nowadays. Developers include several technology innovations that give a comprehensive bundle of ease, security, comfort, and energy efficiency. Traditional lighting in houses is being replaced because tech-savvy homes enable homeowners to conserve energy and enjoy the convenience of management. In addition, future houses may have minimicrophones that allow homeowners to operate voice-controlled gadgets from any location in the home.

Additionally, many houses are being developed and tailored to fulfil the needs of the work-from-home (WFH) culture. As a result, the notion of a techfree room that filters all wireless signals and provides inhabitants with a location to undergo a digital detox is extensively debated and conceptualised. Specifically, the cybersecurity of smart homes is garnering more attention.It is now a given that the Internet of Things (IoT) serves as the backbone of all smart homes. However, since everything connected to the internet is susceptible to hackers, cybersecurity must be the top concern.

INNOVATION AND SUSTAINABILITY

In addition to conveniences and unparalleled comfort, smart houses will be distinguished by greener and more sustainable living. The real estate ecosystem will rely not only on larger, better-digitized, and more spacious areas, but also on eco-awareness supported by technology.Buyers today desire a house that is adaptable to the changing demands of the times, since global warming and high levels of pollution are major contributors to the ailments people confront. In order to promote a healthy society, technology is influencing the real estate industry to choose designs and building techniques based on green practises. As a result, future-ready designs that save resources such as water and electricity and promote garbage recycling, etc., will become commonplace, with technology acting as the primary facilitator.

Smart homes are the next major real estate trend in India. Demand for Smart Homes in India is actually reshaping the future of real estate in India, as some of the most famous real estate businesses in India are constructing smart real estate projects geared to meet these particular requirements. With digitalisation permeating every part of life and life becoming more digital, the demand for smart homes in India is likely to increase and create a whole new market sector.

All savvy real estate developers in India are already capitalising on the SMART HOME trend. The trend of smart homes in India is here to stay and will continue to rise.