The Future of Real Estate in India

How much can a sector grow? What are the factors affecting the growth? Is there such a thing as a saturated Real Estate market? Well with more projects outlining the sky across different cities, for Real Estate in India the sky is literally the limit. So where does the average realtor or builder stand in today’s reality of – Integrated townships, Futuristic townships and mixed-use developments? How does he “future-proof” his current projects?

Today, high global demand for commodities, higher production and transportation costs has led to the rise in prices of commodities. Further, demand for skilled labour has led to the labour cost seeing a rise of 25% in the past decade. Inflationary pressures also are likely to continue in the near term. This would cause margin erosions for few players or delays in old projects. Some developers pass on the increases in costs on to customers, which slows down sales. Even with these detrimental factors property market in India is going only in one direction, that’s upward.

Take for example some of the better developed cities like Noida and Gurgaon, where property prices have increased by up to 5 times within a few years! With strong emphasis on consumer demand the sector definitely looks like it is going to evolve and accommodate global practices & standards, which will attract Foreign Direct Investment, even with the current slump. So it definitely looks like a good time to be in the Real Estate & Construction business. Although the question remains to be answered, how does a builder go about securing his future with successful projects?

Projects that attract investors are the ones that have a good track record of completion and are least susceptible to market fluctuations in terms of their pricing. For realtors and builders, the answer lays in the effective usage of IT. IT sector for the longest time has been one of the major patrons of the Real Estate sector by creating opportunities through its own growth. Now is the time where the Real Estate sector has to look towards IT solutions to answer their long standing problems with efficiency.

Imagine scenarios where you as a builder/realtor are completely on top of your project and have accurately managed to track your demand-supply chain, that of critical materials, that of customer expectations & sales, that of legal matters, that of even the minute details in the architecture & engineering associated with the project! Well, all of this is possible through an ERP software, which taps into your entire business processes and delivers all of the information to you through a convenient dashboard. You would no longer have to worry about, over-ordering/under-ordering, wastage, dealer problems, irregular processes, project schedule etc. as all your business processes are being looked into simultaneously, to give you best possible view and fore-sight about your project. You would now be in a position to make informed decisions and conclusively, deliver quality projects.
Deep integration of technology across the real estate business processes is what will keep competition at bay and help a project be a part of the future, today.

 

eBUILD ERP is the flagship product of ESSPL.
It is an industry-specific solution that integrates all the internal and external management information across an entire enterprise. It provides improved visibility on project operations and gives access to real-time information as well as the chronicle history of every transaction. Make your real estate construction business more profitable. Ask us how! Request A Demo! 

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