IoT i.e. the Internet of Things is the new technical term that is changing the dynamics of the Indian real estate sector. As the name suggest this concept is responsible to make people enjoy technology- friendly life while dealing with the everyday chaos. But, still many people are unaware of how IoT works and thus this blog post, offers everything you are required to know about the Internet of Things in relation to the Indian real estate sector.
1. What is Internet of Things?
IoT is the short form or the popular term used for the same. This is a network of devices that are programmed to perform functions when connected with internet. In short, IoT is an expansion of internet connectivity to physical devices that can be remotely monitored and controlled.
2. IoT and Real Estate
The real estate sector has evolved largely in the past some time and the Internet of Things is one of the main reasons behind this change. Today, the sector wishes to offer automated homes that have every tech-enabled gadget that makes life a classy affair. Hence, the introduction of automated homes, wireless connectivity, wireless sensor networks and security system are the best examples of IoT that has changed the dynamics of the Indian real estate.
The inception of lighting fixtures, thermostats, home security systems and cameras have raised the bar of being a homeowner as the Indian real estate market is continuously working to improve and offer these facilities to the prospects in a better manner.
3. IoT and Lifestyle
The internet of things has elevated the living standards as many housing projects are offered with HVAC system i.e. the Heating, Ventilation and Air-conditioner in all units. The HVAC is a part of IoT that sensors the reaching time of a person at home and works accordingly. This is a technology that maintains indoor air quality and offers thermal comfort.
This is a technology-enabled idea that balances the temperature and moisture inside the room or an area with the use of fresh air from the environment. This concept is largely inducted in single family homes, apartment buildings, hotels and senior living facilities, medium to large industrial and office buildings such as skyscrapers and hospitals, vehicles such as cars, trains, airplanes, ships and submarines.
4. IoT and Energy Efficiency
The Internet of things is a useful idea to save energy as it observes the pattern of both systems and operations. This allows IoT to track the requirement of maintenance by analyzing the operating time, idle time and maintenance cycle.
IoT-enabled sensors also bring down the cost of energy by configuring the gadgets according to the owner’s lifestyle. For example, the owner can adjust lighting of the home as should the light be immediately switched off after he/she leaves the room or should one light stay illuminated until he/she is back home after a long-day or a span of eight hours.
The internet of things also offers the option to dim lights when there is ample daylight available.
5. IoT and Home Buying
The homebuyers are experiencing a digital way of home buying and virtual tour or a 360 degree tour is a common thing offered by the Indian real estate sector.
Beacon technology is the IoT behind this process. This technology is an important part of IoT as it allows transmission of information from square footage to photographs for the completion of 360-degree tour. The prospects or the homebuyers get all property-related details in one shot along with the view of how the property looks in real-time.
IoT or the internet of things is going to be the working fundamental in the Indian real estate sector as both the developers and the prospects in this sector are looking for technology-friendly options to invest in.