Smart home solutions are expensive and the use-cases have not been clearly defined to appeal to the average Indian consumer, experts say.
By 2025, the average Indian household will become connected by some measure as electricity and data continue to become more accessible and inclusive, according to them. But for smart homes to truly take off, and acquire a large consumer base, prices have to come down significantly and technologies have to be adapted to Indian lifestyles, they added.
“It hasn’t percolated yet because people are not willing to pay extra for it. It costs around ₹200-300 per square foot at this point of time; so, just a basic smart home facility roughly costs about ₹2-3 lakh extra,” said M. Murali, managing director of real estate firm Shriram Properties.
Source: Live mint