Real Construction Industry In India
Construction industry plays a key role in the growth of economy and it is the indicator of the development. It creates investment opportunities in various related sectors. This sector contribute an estimation of ₹6710 billion to GDP in 2011-2012 around 9% in GDP. There are nearly 500 Construction equipment manufacturing companies in India, this sector is Labor Intensive and including indirect jobs it provides employment nearly 35 million people. This industry is the second largest employment generator after the agriculture.
There are three segments in the construction industry like real estate which includes residential and commercial construction. Infrastructure building which includes roadways , dams and railways. industrial …show more content…
currently quite slow the prolonged real estate market is going down has resulted in a lot of not sold housing projects across India.
Industry facing severe shortage of skilled workers and many areas of the country shortage of sand, raw materials and political disturbances are acting as growth deterrents. The smart cities project the Government’s housing for all 2022 will plays a crucial role in the industry. Township housing will become major driven for the real estate industry in the immediate future.
In the real estate industry in India is divided into sub division parts. There are number of players in industry which work under subcontract based. To execute critical projects, now a day’s bids are increasing placed in consortium. The profitability of the projects changes across different segments. This industry operates on the basis of contract based agreements over the years.
Increasing the urban population and rising income levels and demand for better life style has collectively helping to the growing demand of the real estate industry over last 12 …show more content…
Real estate brokerage: Brokers bring buyers and sellers together of property, assist in price negotiations, and facilitate the work involved in deals in buy and selling to create best platform. Brokers provide the services include property appraisals and inspections. The seller of a piece of property pays a commission based on a percentage on around 5 to 6% and this commission divide and shared between the buyer’s broker and the seller’s broker. Since commission is based on the property value brokers make more money high price deals. The value of real estate investment is determined by many things based on the key factor like the location of the property, public transportation access, quality of roads and schools, and other service facilities etc. Real estate brokers has the licensed in the state they working nearly 1.2 million brokers are licensed most are either in active or consider brokerage activity in secondary line of work. Popular real estate franchises are Coldwell banker real estate and century 21 real estate.
2. Leasing agents: Leasing agents work with property owners to handle the complexity involved with finding, venting and signing tenants for their properties and handling all