The update weighs 1.2GB in size which includes new features, including a redesigned UI, display scaling options. Along with all these features the update includes all the basic goodies of Nougat. For example the split-screen multitasking, customizable quick settings, improved Google keyboard, enhanced notifications and recent applications window.
As this is an OTA update if you did not get the update notification. Don’t panic it will reach you in 1-2 days time. meanwhile you can check it manually by going through the Settings > Software Update > Software manual download to check for the update.