Smart environments (SmE) are richly integrated with multiple heterogeneous devices; they perform the operations in intelligent manner by considering the context and actions/behaviors of the users. Their major objective is to enable the environment to provide ease and comfort to the users. The reliance on these systems demands consistent behavior. The versatility of devices, user behavior and intricacy of communication complicate the modeling and verification of SmE's reliable behavior. Of the many available modeling and verification techniques, formal methods appear to be the most promising. Due to a large variety of implementation scenarios and support for conditional behavior/processing, the concept of SmE is applicable to diverse areas which calls for focused research. As a result, a number of modeling and verification techniques have been made available for designers. This paper explores and puts into perspective the modeling and verification techniques based on an extended literature survey. These techniques mainly focus on some specific aspects, with a few overlapping scenarios (such as user interaction, devices interaction and control, context awareness, etc.), which were of the interest to the researchers based on their specialized competencies. The techniques are categorized on the basis of various factors and formalisms considered for the modeling and verification and later analyzed. The results show that no surveyed technique maintains a holistic perspective; each technique is used for the modeling and verification of specific SmE aspects. The results further help the designers select appropriate modeling and verification techniques under given requirements and stress for more R&D effort into SmE modeling and verification research.