The Real Estate industry involves the buying, selling, leasing, and renting of all kinds of properties like commercial, residential, and agricultural properties.? According to?The Economist, real estate assets possessed by the developed economies by the end of 2002 amounted to a total of $62 trillion, in which Residential property had a $48 trillion share, and the rest was under Commercial Property.
Sales and Leasing: Activities include the sales and leasing of properties.
Management: Management of property, maintaining property values.
Property Development: It involves the conceptualization and then subsequent construction of properties. It requires managing teams of engineers, architects, builders, as well as the marketing and sale of the property.
Acquisition and Analysis: This job involves accurate analysis of the value of the property, and a comprehensive understanding of all the laws and regulations governing the development and sale of property in the area before investing/acquiring a property.
The real estate sector in India is second (agriculture being number one) in terms of employment generation and contributes heavily towards the gross domestic product (GDP) of the nation. According to Jones Lang LaSalle, faster economic growth in Brazil, Russia, India and China (BRIC) could result in the property markets of those nations recovering at a faster rate than the UK and US real estate markets. It is also being predicted that India’s real estate sector could begin to improve from late 2009 and may attract up to US$ 12.11 billion in real estate investment over the next five years. A McKinsey report reveals that the average profit from construction in India is 18 per cent, which is double the profitability for a construction project undertaken in the US. Some of the top players in the Indian real estate and construction industry include Unitech, DLF Ltd., HDIL, and Ansal Properties.