Governance

Builders turn to IoT, Artificial Intelligence to woo home buyers

Internet of Things (IoT) and AI (Artificial Intelligence) are no longer just axioms even for real estate developers as they are increasingly deploying these in addition to home automation in a bid to catch fancy of buyers.

Developers are warming up to the idea of incorporating home automation products to their offering, a late addition to the standard amenities list so far. Given the cost factor, developers had earlier refrained from deploying these products.

“Real estate today is no longer confined to a brick-and-mortar structure with developers constantly looking for ways to offer value to customers. It has evolved into creating a healthy environment for people to live, work and play, thereby improving the health and quality of life of households around the world”.

However, with huge reduction in technology and deployment costs, more developers are opting for such products. Platforms that use cloud-based algorithms and sensor technologies monitoring indoor environment and alerting residents for corrective actions are also being deployed to bring wellness intelligence into the connected home environment.

Wifi-based home automation products like video door panels, motion sensor-based light and security management products and appliance control products that remote manage ACs, TVs geysers and other appliances that are app-controlled are becoming a part of new developments.

October 8, 2018 / by / in , , , ,
RBI increases repo rate by 25 bps to 6.25%

RBI hiked repo rate, the rate at which the central bank lends short term money to commercial banks, by 25 basis points (0.25 per cent) to 6.50 percent. This is expected to lead to higher interest rates on housing, auto and other personal loans. This is first time in nearly five years that RBI has hone for a back to back hike, having increased repo rate by 25 bps to 6.25 percent in its last policy meet in june. Last time RBI had increased the repo rate consecutively in 2013. Trade tensions, crude oil prices, poor economic activity, rising retail inflation have been considered as the primary factors behind the hike in repo rate.

I think that hike in repo rate will impact the real estate sector as the revised rate would result in costlier EMIs for the home loan.

August 3, 2018 / by / in , , , , , ,