Specials

How Internet of Things (IoT) impacts real estate

April 2019
A newer technology powering security in real estate is the Internet of Things (IoT), “the concept of putting any device that can have an address, on the Internet, to take commands from a remote location,” to quote Mehernosh Pithawalla, Vice-President and Global Head, Marketing, Sales & Innovation, Godrej Security Solutions.

“IoT and data-driven decision-making technologies such as artificial intelligence are making buildings more intuitive and sustainable,” observes Thanik B, Director, Product Management, Digital Energy, Schneider Electric India.

While the market for IoT-enabled solutions for all types of housing is still at a nascent stage, Pramoud Rao, Managing Director, Zicom Electronic Security Systems, affirms that Zicom has evolved from being a product company to IoT-based security services, in keeping with his belief that “connected, intelligent homes will be the future norm”.

Zicom has introduced a host of IoT-based subscription monitoring services, which have considerably brought down the cost of security. For instance, ATM e-surveillance has reduced the cost of security from Rs 40,000 per month to just Rs 4,000. Zicom’s subscription-based security services cover ATMs, gold loan companies, commercial establishments, senior citizens, children, assets, etc.

Also, “technology advancements that have enabled security solutions to be deployed on the same broadband fibre network as Internet-based televisions and CCTV cameras have reduced the cost of deploying security products by 25-30 per cent,” says Pithawalla.

Solutions aside, materials that enhance security such as bullet glass and laminated glass are considerably cheaper than they used to be, observes Dikshu C Kukreja of C P Kukreja Associates. “By embracing the wide array of available security technologies, architects needn’t restrict their design,” he adds. “They must just ensure that they integrate technology in such a way that it doesn’t become an eyesore.”

For the best outcomes, Srikanth Srinivasan, President - Procurement, Puravankara suggests security technologies be customised to suit the needs of individual projects.

- CHARU BAHRI