The real estate industry has undergone a remarkable transformation since the integration of advanced technology. The combination of the real estate and technology is transforming the way the real estate sector is developed, purchased, and managed. PropTech, Artificial Intelligence (AI), Machine Learning (ML), and Blockchain technologies have begun to make the real estate industry more efficient, innovative, and transparent in India, where the residential service market is booming.
Similarly, luxury real estate has evolved over time and is now available in numerous premium locations, offering fully furnished residences equipped with cutting-edge technology. Developers’ choices in home design are shifting to accommodate the demand for smart technology and improved connectivity. Smart luxury homes are experiencing high demand as individuals become increasingly technologically savvy. According to the Sotheby’s International Realty Luxury Outlook 2024, 71 percent of high-net-worth individuals in India intend to purchase luxury real estate within the next 12 to 24 months.
As technology has become an integral part of apartment living, it now includes security, lights, and temperature control. Individuals enjoy ultramodern living due to the availability of smart products, fast internet, and virtual assistants. These features are now prominently featured in luxury homes, reflecting the growing demand for modern, high-end living spaces. According to Statista, the smart home market in India is now worth 4.8 billion US dollars.
Tech Transforms Luxury Real Estate:
Tech has made it easy for consultants to have direct communication with buyers and renters via mobile applications and online platforms, providing property advisory services. This transparency simplifies the buying, selling, and renting process with good costs and, as they do not need to visit the property physically. According to Statista, on average, each smart home is expected to generate $179.70 in revenue.
AI-powered virtual property tours:
Traditional marketing methods have been transformed by digital technologies, which include 3D models and virtual property tours, enhancing real estate marketing consulting services. A broader audience, including international customers, can explore properties from home, leading to an increase in occupancy rates and overall revenues.
App-based personalization:
Real Estate consultants provide personalized services through mobile applications for luxury properties, offering residential services. In-room amenities and concierge services can be tailored to consumer-centric preferences, enhancing the customer experience by providing easy access to services through smartphones.
Business models with technological excellence:
Technology has been embraced by leading luxury brands in India, facilitating seamless transactions between property buyers and sellers through the use of online platforms and mobile apps, which include The Guardians Real Estate Advisory. Smart homes offer immersive experiences through virtual tours, 3D renderings, and smart home technologies. By using data-driven approaches, it can tailor services to individual preferences and unique experiences.
Luxury homes in India are driving a transformation in the real estate industry. The Guardians, India’s foremost Real Estate Advisory firm, encourages developers to focus on luxury properties. By embracing technology in the realty sector, property developers can play a significant role in shaping a more promising future. The Guardians Luxury showcases high-value residences and projects for those seeking the pinnacle of luxury living. For deeper insights into the latest property trends, visit The Guardians’ website or schedule a consultation with our experts.