What is Real Estate Business?
Investopedia defines the business of real estate as “a class of ‘real property’ that includes land and anything permanently attached to it, whether natural or man-made”.
Estate management deals with ‘residential’, ‘commercial’, ‘industrial’, ‘raw land’, and ‘special use’ according to Investopedia. Investopedia further states that anyone can “invest in real estate directly by purchasing a home, rental property or other property, or indirectly through a real estate investment trust (REIT).
Thus, the meaning of real estate and estate management include the investment and ownership of a particular land and buildings. Therefore, estate management concerns itself with the owner of a real estate property. The property owner is vested with the authority to carry on any transactions onto the land or the buildings that is owned by the person.
Real Estate Industry in India
An article published by India Brand Equity Foundation (IBEF) on October 21, 2020, shows an Infographic on the growth of real estate in India.
According to the infographic, the status of estate management findings shows that the upward graph of urbanization has skyrocketed the trend in consumer behavior of preferring urban spaces and urban homes. Hence, people are not interested to invest in residential spaces in suburbs that are not owned by real estate giants.
The statistics from the Infographic reveals the following as far as estate management in India is concerned:
- “India is among the top ten price appreciating housing markets internationally.
About ten million people migrate to cities every year.”
- India attracts many opportunities in investing in real estate. It is because of the increasing need “of space from sectors such as education and healthcare, E-commerce and logistics.”
The Infographic also highlights the fact that “Co-living market size across India’s top 30 cities is expected to grow more than double to reach US$ 13.92 billion by 2025 from the current size of US$ 6.67 billion.
- Real estate business has governmental backing. The government has granted FDI till one hundred percent for the construction of projects, and especially ‘townships’.
It is predicted that, by the year 2022, estate management in India will not only escalate to robust demand but also witness exponential growth. Talking of figures, urban spaces will have forty million homes and investment in rural spaces will witness twenty million homes to be constructed under the provisions of “Housing for All Scheme”.
In India, Kolkata, the demand of real estate has been successful in the business of estate management.
Real Estate Investment in Kolkata, West Bengal
P.S. Group is leading the business of estate management in Kolkata. It will not be an exaggeration to state that P.S.Group of Industries is the real estate giant in Kolkata.
The website of this real estate giant shows the projects it has completed and the ones under progress.
These are some of the real estate projects undertaken and completed by P.S. Group of Industries:
- Zen, Topsia
- White Meadows, Rajpur
- 7 Loudon Street, Loudon Street
- Qube, Rajarhat
- Cosmopolis, Patuli
- Raintree, Kankurgachi
- Arham, Newtown
- Avalon 56, Hindustan Park
- Palm Spring, Tangra
- Corporate Park, Sector V.
In the suburbs of North 24 Parganas, that is Sodepur and Khardah, Godrej has invested in urban residential properties. G M Group in Sodepur, Saket Nagar, Salt Lake Merlin Homes in Salt Lake and Dumdum, Magnolia Empire, Madhyamgram, RM Associates Realty Consultants Pvt Ltd, Emami City, Jessore Road are only a few instances of the status of real estate in India, in only West Bengal, to boot.
Estate Management in Mumbai
An online Hindustan Times Ad by HT Brand Studio has advertised the business of estate management by stating that consumers can buy their “dream home” in Mumbai that at offered by ‘developers’ including Adhiraj, S D Corp, The Wadhwa Group, Preston, Regency Group, Runwal, Sheth, Versatile, Dosti, Shapoorji Pallonji and Fabric.
Real Estate projects in Bangalore, Chennai, Hyderabad, Kochi and other cities have changed the face of urban spaces of the country.
An advertisement by Prestige Group exhibits the estate management business in these three cities by mentioning and displaying images of the real estate projects completed by real estate developers.
Prestige Silver Oak, Prestige Finsbury Park, Prestige Waterford, Prestige Willow Tree, Bengaluru;
Prestige Courtyards, Prestige Bella Vista, Prestige Silver Springs, Chennai; Prestige High Fields, Prestige Ivy League, Prestige Nirvana, Hyderabad are only few of the examples of the investment of real estate in India.
Real Estate is the Future of India
We can predict that real estate is the future of India. It is because the architectural, cosmopolitan and cultural look of India will always be subjected to investment in estate management.