Who Is The Ultimate King Of Real Estate?
In India, real estate plays a major role in everybody's life. Consumers, investors and developers play their own role in the property market. They work together to achieve better returns on investment. When a person buys property, he is not just buying a house. He is acquiring an asset that will last a lifetime, or even longer. For an investor, the basic fact remains same like consumer but the profit and ultimate goal may differ. Investors put in money for sole purpose of return on investment. They don't always buy a property for their self-use. Investment is the first motive. When it comes to developer, they are the main pillar of the real estate sector. They invest the most in a promise to deliver the best product to the consumer.
The consumer
All in all, consumers are the ultimate king in real estate. The evolution of the real estate sector will depend on the consumer. The success of any new venture will depend on the consumer. A buyer purchases his dream home or any kind of property when it meets his requirements. It is the developer who works according to the consumer's needs, understand their set of desires, and delivers the project.
There was a time when consumers were the most affected because of the prolonged slowdown in the sector. But as time advances, the full implementation of the real estate Act will make the actions of developers more transparent. This will be beneficial to an industry that was so far largely unregulated.
The investor
In the last few years, real estate investment caught everyone's attention. The growing popularity in real estate sector, makes it more lucrative. As investors feel, it is easy to invest in property market and can be done directly. Real estate investment involves buying residential or commercial property for the sole purpose of an income-producing asset or can be resale in the future for better price deal.
Investors prefer real estate for many strong reasons. It is tough to evaluate the actual return on investment but still investors want to see their assets growing on a large scale.
The developer
Developers play the most significant role in real estate sector. They may not be the ultimate king, but they drive the growth of the industry. They are the link between the buyer's need and construction facility. Developers work jointly to meet the important needs in the housing sector, retail, office space and entertainment zones like mall, theatres, etc.
They bring in more stability to offer the best for their consumers. Their working zones differ, in a way to meet the different needs of the society. But developing housing complexes and projects remain the core area of interest. The developer's work is to build a project, and then to advertise it through a different medium. Housing serves the masses. That is why it will remain the key area of interest. Commercial real estate also has its own importance. This may not serve the purpose for mass, but they do a lot of marketing for their properties in front of big business honchos and industry players.