The new generation of technology has finally been launched in India. Bigshot telecom companies such as Jio and Airtel have already started 5G services in several Indian cities, and they are said to be available to pan-Indian consumers by 2024.
It is said that we would be able to download a two-hour movie in HD quality (around 6GB) within 1 or 2 minutes and also be able to connect multiple devices at once without lowering the speed, using a 5G network!
Jiten Parmar, Co-founder of Aurum Capital commented that 5G can have far-reaching effects on our lifestyle and economy and that healthcare, education, entertainment, farming and real estate sectors could advance. He also said that 5G technology would enable smart homes, and therefore, Smart Cities.
One of the best parts about this revolutionary launch is that the internet is going to become accessible to remote areas. This would help businesses to extend to these places and result in their development. It would also cost investors less to invest in rural areas than in bigger cities. This creates so many opportunities for businessmen.
5G connectivity requires cities and buildings to undergo reforms in their infrastructure to adapt to the technology, and this is one of the reasons why the real estate sector has a huge role to play in the shift from 4G to 5G.
This is possibly the biggest change that we are going to see as a result of 5G technology. In simple words, everything will be connected to the internet and hence, connected to each other. Houses with 5G-supported fixtures and appliances will be more desired by buyers.
It enables property owners to access their usage analytics. The new technology will have various features such as automatic damage detection and sensors enhancing their functions. Imagine a refrigerator ordering an item for you when you run out of it!
The huge 4G radio towers that can cover long distances are going to be replaced by small 5G cell towers with shorter transmission radii, propped on lots of street lights and rooftops. This results in good connectivity during bad weather conditions and better city aesthetics, and it enables property owners to lease out their space for telecom companies to set up equipment, creating a decent passive income for them.
The new technology requires fibre optic cables to be installed through the walls and floors of buildings, making 5G-supported buildings expensive.
Renovating existing buildings to adapt to the change would also cost more than the standard renovation charges. Landlords can, therefore, increase the rent and prices on such houses to make up for the expenses incurred by them in the process.
5G uses less energy, increasing the battery life of security devices installed in buildings. Surveillance cameras will be able to give high-definition videos 4 times the picture quality in 4G technology.
In a nutshell, real estate is a generally slow-paced industry and catching up to the speed of development is going to be difficult, but not impossible. Reports say that many leading global REITs have already started to incorporate 5G technology into their projects.
Ever since the invention of brick-sized 1G cell phones in 1983, we have witnessed the 2G flip phone era and the age of 3G and 4G smartphones. From there, the jump to 5G is no small affair. We are beholding the start of major transformations in the country’s economic and structural infrastructure.
There is quite some time until all of India witnesses the new age, but builders have absolutely no time to waste!