Wednesday, 27 March 2013
Commercial Real Estate India
These days commercial real estate market in India is becoming a professionally managed business. As businesses switch to a 24 x 7 x 365 mode, real estate builders and managers in India are putting in place systems that cater to these new conditions. Elaborate workout areas, employee friendly cafeteria, parking facilities for the pick-up vehicles are all built into the lease agreements and scrupulously maintained. After all, employee attrition can sometimes be curbed with more perks such as these.
IT connectivity with multiple layers of glitch-free switch overs is also the norm in corporate real estate today.
A single delay in switch over will amount to multiple thousands of dollars lost and contracts cancelled. Therefore, the property manager is no longer an administrative clerk sitting in the entrails of a building surrounded by files. Builder has a series of blinking lights indicating the status of various systems that are keeping the building functioning smoothly. A computer operated security system tells him who exits or enters the building. Security is the key to successful corporate and commercial real estate management in India.
From last couple of months, IT companies turnover down in Indian market and the reason behind is USA market is going very slow. Large number of IT companies and small level companies, shut down their small offices in India. The result of this slowdown IT companies hits the commercial property market in India.Some commercial real estate brokers said market will booming again in coming years. Whenever US financial market will boost and this will impact on the commercial real estate industry in India.