Articles

Small builders are hiring real estate advisory services to become professional

by Maria Bhatia Real Estate Builders in India

The real estate scenario of India is constantly undergoing change in last few years. It began with the introduction of RERA, passing of changes to the Benami Property Act, formalization of real estate agents through license allotment etc.  Real estate advisory services have therefore become very essential for realtors to efficiently sail through such transformative phase.

 

The industry is realizing that these reformative changes are here to stay and hence they are looking for professional assistance to help them tide over this phase. Real estate advisory services in India is a rising service segment in the country. The real estate sector is becoming formal and moving in the direction of becoming a professionally run industry. It is no more an unorganized sector of the economy with shady dealings and ties with underworld. More number and more percentage of transactions are becoming completely white. As a result of this Indian and international brands are no more feeling any hesitation in rolling out best projects for Indian consumers. Consumer demands are also rising in term of quality of construction, preferences for the interiors and the speed of construction. This is resulting in great improvement in the quality of construction, it is becoming comparable with the construction being done in other countries. The projects are getting completed before the stipulated time frame. RERA has played a major role in bringing about these changes. As now the promised interiors and amenities have to match the actual amenities. The timelines mentioned in the brochure have to be actually delivered, otherwise there is heavy penalty clause laid down by RERA. Smaller builders are finding it difficult to match to the new real estate standards. They are seeking the help of such real estate advisory services to become professional and come at par with other branded real estate companies.