How Can You Start a Real Estate Business in India?

31 Jul, 2021

Real estate is one of the growing sectors across the globe. The main reason behind its success is that it does not need any high degree of technical expertise and skills in order to handle projects, unlike engineering or any other industry.

People with the right amount of knowledge and experience can get into this business and make a name for them. You need to conduct research on the property market in India before you enter into this industry. In India, the real estate market is booming like never before and you may be wondering how to start a real estate business in India? This post will give you all the info you need to get started working in the Indian real estate sector.

Real Estate Industry in India: An Overview

• The sector is all set to reach $650 billion by 2025. This would be 13% of India's GDP and would make it one of the largest sectors in the country, not really behind agriculture and manufacturing. (Link)
• Around 70 million people will get employed in the sector by 2022. (Link)
• The market attracted $US 5 billion investment in 2020.(Link)

The Indian real estate industry is growing at a fast pace. The sector is attracting a lot of investment from people around the globe, helping it to grow at a healthy and stable pace.

Real Estate Industry in India: How Can You Start a Real Estate Business?

Here is a step-to-step guide on starting a real estate business in India:

#1 Research is the Key

You cannot decide on how to start a real estate business in India without conducting proper research. You need information about the market, its scope, and growth opportunities. How many real estate industries exist in India? How much do they earn annually? How big is their share of the GDP? How are they currently performing?

These are a few questions you need to ask yourself before you enter into this sector. You must conduct proper research and know about the market trends to start off a business in India successfully. To be able to start a real estate business effectively, you need to have an idea of how the sector works. Here are a few things that should be in your mind when you are doing this research:

You must also know about the government rules and regulations related to this sector. You need to be aware of the construction norms and real estate regulations followed here.

• The demand in the market for the kind of real estate project that you are planning on launching.
• The areas of high demand and growth
• The trends in getting a real estate business established in India
• The investors and developers that are active in your target areas

#2 Choose Your Specialty

The next step to take is to choose the area of specialization where you want your business to focus. Be it residential, commercial, or industrial constructions, there is a big market waiting for you. It is important that you determine what direction your business will take.

Building a network is one of the most important things that you need to do when starting your business. Since there are many developers, investors, and potential buyers, it will be easy for you to sell your real estate in India by using your network. Those who have some contacts in the industry already can make the best use of them.

#3 Get the Required Licenses

On average, it takes about a few months for a real estate developer in India to get all of his or her licenses and paperwork done. Moreover, since there are many entrepreneurs who are looking to start a business of their own in the sector and don't have much knowledge on how to go about it, you may be able to reach out and help them get off the ground.

This is something that can come in handy later on when trying to come up with partnerships or merging ventures for your own business. It will also give you a good reputation among other developers so it's definitely worth getting into it.

#4 Create a Team of Experts

There are many things to take care of when running a business, including building, financing, and managing. To make sure that you do everything right from the beginning, it is better to have an expert team on your side that can assist you in this matter. You may also want to try partnering with other businesses so that they can assist you in the area in which you might be lacking, or so that they can offer you their services at a discount.

Your team must have the best resources and skills to deal with any situation that might arise. This would mean that you will need to hire people who are quick, efficient, and effective. Finding the right candidate for each member of the team is important because it could potentially make or break your business in this difficult market.

#5 Make an Online Presence

This is something that most entrepreneurs overlook when they are starting their business, but it is very important to consider. There is a lot of competition out there, so you need to be one step ahead of them.

The first place to start would be with your online presence. It needs to be professional and informative, so make sure that you include all the required details. You can even link it to your social media profiles and other websites that you would like potential customers to land on if they do a search for you or your business.

Wrapping it Up

You might still be wondering if you should start a real estate business in India or not, but the need for it is rather obvious. The market is booming right now and opening up for new players. So, you must try your hand at it if you are thinking of starting a business in India. Just make sure to do your homework and set yourself up for success.