The business of real estate is serious business and today, it has almost become a gold mine. Truth be told, there are many entrepreneurs who have tapped into it and are making millions. People are always on the lookout to buy houses and buildings and are either looking to buy or rent.
As of 2019, there are 3.7 million square feet of commercial land used for real estate businesses. Also, according to some reports, the real estate industry will be worth over $1 Trillion by 2030. It is for this reason that this industry stands with a lot of business opportunities.
We get many people in our community asking about real estate business ideas. if you are here probably you are looking for the one. You may not know this but there are niches within the industry of real estate that are untapped. If by any chance, you are eyeing this industry for a long time and are on the lookout for a suitable opportunity to tap into it, here are 10 Real Estate business ideas that you should consider in India.
Real Estate Development Or Construction
This is a multifaceted real estate business idea, which is known to encompass activities that range right from the re-lease and renovation of the existing buildings to the sale of the improved land to the purchase of raw land. If you have the financial gene in you and a good team, it is recommended that you should venture into the development or construction of real estate.
Real Estate Management Company
Now, even if you don’t want to venture into the development and construction of the real estate, all is not lost. You can still be in the industry as a real estate management company.
Many people who own multiple properties find it hard to keep track of everything on those properties let alone manage them. In this case, it will be the job of your company to maintain as well as manage the property of your clients and that too, on a commission basis while making sure that the cash flow from the client’s property stays positive.
Property Styling
Do you know that the property stylists are professionals who are known to prepare buildings for sale or rent? Yep, that’s true. Such business does exist. If you are a property stylist, you will be called upon to add finishing touches to any house or building that is available for sale or rent, so as to make the house or building visually appealing to the customer.
Interior Design
Of course, who hasn’t heard of the term ‘Interior Design’? As an Interior Designer, you will be expected to beautify the internal aspects of the house. If you are interested, you too can join the team of those who are known to specialize in designing the spaces in the homes of the people while earning a living from it.
Personalized Services
One of the most innovative real estate business ideas on the list is personalised services. There is nothing that will beat the idea of personalizing the services for the customers. Do note that it is extremely important to recognize the individual differences among the clients and based on that, you can offer numerous services that will suit their unique needs. Keeping this in mind, you can start a business that gels up with the customers and solve all their real estate related problems.
Renovation And Repair
There have been a lot of natural calamities and disasters in recent years. Based on that, it would be a good idea if you manage to provide repair as well as construction services along with your real estate business. It goes without saying that this growing market will surely bring a whole lot of profit to your company.
Going Green
Now, this is a trend that has going on during recent years and has been dominating quite a scene. A home that is not only environment-friendly but is also designed to help lower the consumption of electricity is something which will attract the customers in hordes.
If you can somehow come up with an innovative idea and also make it visually appealing, people will be ready to give you whatever you will quote. Be sure to include such features in your homes too.
Online Real Estate Marketing
This is a property business idea that you can start with a low investment. You can offer online marketing services for real estate brokers as well as for agents. By doing this, you will be helping them in running online marketing campaigns through various media channels. If you have a background in online marketing, then, all the more reason to deviate towards this business idea.
Damini Bhandary
Architecture
It is the architects who are known to draw as well as design houses and other structures before they are begun to be built physically. Today, the field of architecture has seen a huge advancement with the introduction of 3D design software packages such as AutoCAD. If you have an eye for design, then you can opt for this business idea by helping people come up with great designs.
Real Estate Appraisal Business or Valuation Company
This is another niche into which you can tap. Now, many know that by merely seeing a property, it is quite impossible to tell its true valuation. If you are experienced enough can tell the actual value of any property, then you can start this business. You will be expected to determine the estimate of what the property is worth before it is bought or sold by your client.
Anik Banerjee
Conclusion
Keep in mind that there are numerous property ideas and opportunities in the real estate industry, and if you have the passion, know-how and the required capital, you will never go wrong with any of these real estate business ideas in India.
FAQs
What is a real estate business?
A real estate business is a business that involves buying, selling or renting properties. A real estate agent assists buyers in helping buy or sell their houses.
How much does it cost to start a real estate company?
When starting a real estate company, you require at least $5000 to $10,000 but some entrepreneurs have also started their real estate business for less than $1,000.
How to start a real estate business in India?
- Confirm the regulations in your state before getting started.
- Choose a unique business name.
- Prepare a business plan.
- Build your team.
- File an Article of Organization with your state.
- Create an operating agreement for the business.
- Publish an intent to file (if required in your state).
- Apply for a tax identification number through the IRS.
What is the future of real estate in India?
By 2040, the real estate market will grow to Rs. 65,000 crore (US$ 9.30 billion) from Rs. 12,000 crore (US$ 1.72 billion) in 2019. The real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13% to the country's GDP by 2025.
Source :- https://startuptalky.com/ Author :- Ashwini Date :-February 21, 2022 at 11:00AM