Significance of IOT (Internet of Things) in the real estate industry


It becomes more or less crucial to consider investing in the property market. In order save up for a secured future, investing in something worthwhile would help you provide for your loved ones during financially cramped up situations. India, as a developing nation has witnessed a clear transition from residents living as tenants to first-time property owners. Potential property developers are capitalizing on rising residential demands and are embarking on technology aspects in order to provide sustainable structures. Millennials who are relocating to different metropolitan cities are actively looking for property investment opportunities in order to lead a technology-based living experience. IOT, also known as Internet of Things is present is a part of homes, shopping malls, IT structures and secured parking spaces. Technology advancements has now impacted the real estate industry in a good way. The help of sensors and analytics has helped property developers to gather information in real time and share prospective details with potential investors. Be it creating smart homes, contribute to effective energy utilization or devising strategically precise decisions, the significance of IOT in the property market is set to create new trends for constructive investment decisions. 

Internet Of Things
Internet Of Things



Rise of smart homes- Comfort and Convenience benefits of IOT


Residents, especially first-time investors who are looking for property investment opportunities prefer convenience and comfort within the space that suits them the most. People are heavily inclined towards home automation systems so they go about with their everyday chores with utmost ease and effort. Usage of energy efficient electric switch boards, automated air conditioning and temperature settings can help residents lead a safe and fulfilling lifestyle. Installation of safe and protected security systems would help residents know activities within their apartment even if they are not present. Concorde Auriga is one of the upcoming residential apartments in Medahalli, Bangalore where one can invest and apply the IOT Smart Home Automation to make life easy. This way, a child’s movement at home can be monitored for hassle-free investment experience. 

Concorde Auriga
Concorde Auriga



Effective energy consumption and reduced operation costs


IOT provides impeccable benefits as far as using energy and electricity optimally. Every now and then residents fail to switch of the fan, water taps or the air conditions if they are not in use for a long period of time. IOT has employed strategies to predict house maintenance to make sure there are no glitches in operations. Property developers who use IOT to construct buildings can help customers to track operation of high-speed elevators, collect date in real time and ensure a smooth maintenance cycle. The inclusion of such practices can help residents and developers to curb high operation costs and optimally utilize raw materials needed for timely residential construction. 


Smooth financial transactions and effective decision making


Inclusion of IOT in the property market can help developers monitor multiple financial transactions. Let’s take retail giants for example. It becomes tedious to send out questionnaires to prospective customers in order to track their preference. With IOT, high end retailers can electronically track customer movements in regards to what interests them most and which part of the store they spend most of their time in. Gathering all this information right then and there can help them curate the space available, alter the design, devise creative layout for effective store operations. Warehouses and supply chain influenced corporations can make effective use of technology to track material coming in from vendors and fasten the process of rolling out finished products that are scheduled to be delivered. Also, individual property aspirants can also benefit from IOT implementation. Residential spaces which are for sale can now adopt the beacon technology wherein residents are provided with push notifications about unit specifications. This eventually helps them make quick decisions for a convenient future. 

To conclude, IOT in the real estate industry can help property developers concentrate on tactical strategies for prompt delivery and providing features that would enhance convenience and comfort within project premises.
Location: Medahalli, Bengaluru, Karnataka 560049, India

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