The term "Real
estate" refers to immovable property like land and buildings. It is
also known as "Realty or Real property". While in common law
parlance the terms real estate and real property are used, civil law
jurisdictions instead refer to immovable property.
Real estate has now developed into a major area of business owing to a vast
development in private property ownership. Buying real estate requires a
large investment in terms of money, and hence requiring the professional
help of experts who value the real estate.
The real estate sector has been booming all over the world and also in
India. A large number of real estate developers and marketing companies
provide efficient services to individuals, business men and corporates.
Types of Real Estate
The real estate can broadly be categorized into
- Residential Property: This included flats, mansions,
independent builder floors, penthouses etc used for personal living of
individuals.
- Commercial Property: This includes property for business like
office buildings, restaurants, shopping centers, hotels, parking lots
and stores etc.
- Industrial Property: This includes use of land for industrial
purposes, such as manufacturing, factories, warehousing etc.
Real Estate Services Offered
There are a number of services being offered in this sector. These are:
- Real Estate Appraisal - Professional property valuation services
being offered by companies.
- Brokerages - Professional services provided for assisting buyers and
sellers in property buying, selling, renting, leasing etc. transactions
- Real Estate Development - Professional services provided by companies
by improving land for use by adding or replacing buildings, residences,
offices, entertainments parks etc.
- Property Management - Professional services provided by individuals
or companies for managing a residential, industrial or commercial
property for its owner.
- Real Estate Marketing - Services provided by companies for managing
the sales side of the realty business.
FDI
in Real Estate
Selling
Property