This paper presents an advanced IoT-based security system that significantly enhances traditional smart locks by integrating multi-owner access control, real-time visual verification, and seamless home automation. Unlike conventional Bluetooth or RFID-based locks that rely on single-user authentication, our solution introduces a multi-owner SMS-based system, where the first responding owner determines access, improving decision-making efficiency. The system supports dual-path unlocking via OTP verification for guests and Blynk app commands for owner(s), secured by an AND gate hardware logic to ensure reliability during conflicts. Additionally, we implement fail-safe mechanisms, including a mechanical key override and a 20 s auto-relocking feature, while the ESP32-CAM enables live streaming for enhanced security. Beyond access control, our system integrates home automation, synchronizing lock and appliance states via Firebase realtime database, enabling remote control features of lights or fans. Experimental results demonstrate 98% authentication accuracy (surpassing 82% in face recognition systems) and instant recovery during power failures via battery backup. By combining decentralized owner approval, hybrid electro-mechanical locking, and home automation, this work proposes a new technique for a smart door lock system with integrated home automation.