REAL ESTATE BUSINESS AND INDIA- AN OVERVIEW
.Land has always been the bone of contention between men from time immemorial.
And today all the more so with development not restricted cities. Even remote areas in every part of the world including India has become the builders and developersâ€™ play ground. Even Metro cities like Mumbai,Delhi,Bangalore,Kolkata having got competition from second tier cities like Cochin, Hyderabad,Pune,Ahmedadad etc, are now making way for their satellite areas like Thane,Gurgaon etc in the land development race. Land constarint has got townships going vertical.
Today to Buy land or sell land has become a nasty competitive business. Original land owners all over India, though reluctant to let go, have been tempted enough with sky high rates to sell their properties or get into joint ventures with developers to make that killing of a profit up for grabs.
This is primarily due to the emerging high income brackets and spending power among huge Indian middle class. Recession is a moot argument where property is concerned. Because, land prices are always headed north and the early bird survives unnatural spike due to demand and supply in evolving townships. Long term investment practices have seen cities like Thane attaining almost a satellite city status to Mumbai.
All this has led to the emergence of real estate agents as game changers ! Also referred to by the not really sophisticated term â€˜Real Estate Brokerâ€™, this class of people are now not limited to the established real estate business houses or families. The high income potential has created estate agents out of the varied spectrum of wanna beâ€™s from the watchmen of societies to office peons who have access to land owners and flat owners. They act as links to information which gets them their share of brokerages.
Today online property search portals are dime a dozen and potential buyers and sellers of property can be easily accessed. All one needs to do is just search for terms like â€˜apartment in Mumbaiâ€™ or â€˜sell landâ€™ or â€˜estate agents in thaneâ€™ and you have everything at fingertips from your office or home. However, there still exist the non-techno-friendly customers or the highly busy professional and business class buyers and sellers who are a real potential for all these so called 'real estate agents'.
As this segment consists of some of the most unorganised and untrained section of people, it has emerged as an alternative source of income for the some of the educated jobless and housewives.
Well, as money distribution is definitely good for the country's economy and society development at large, there are no complaints.
But yes, as property deals go into hundreds of crores, the murkier sides of this business comes to the forefront at times. As can be evidenced by the frequent crime stats that are published in the various news media nowadays. Where it pits not only competitors against each other in bloody turf wars, it also brings family feuds over property to the public domain â€“ sometimes even leading to fatal altercations.
Yet the real estate industry is alluring in its earning potential and enrolls many broke individuals as brokers. As long as it caters more to the betterment, the bad sides can be cautiously ignored.
AUTHOR : Landshoppe
Posted on : 2012-12-29 00:00:00
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