The purchasing power of the new generation of Indians has increased. They are investing in real estate in a big way- in terms of investment and assets. People have acquired refined tastes in housing needs and become professional in dealing with builders. Financial companies and banks have given a boost to real estate marketing as well. To add to this the government has allowed foreign investors also to test the market conditions here have helped. Every area of real estate be it industrial, retail space, malls, office complexes, residential colonies, hospitals, clinics and other healthcare units have a vast potential for growth.
As more opportunities grow for people to work they also wish to invest in places close by to live in. Builders or developers in various regions are now separately marketing each space. Even home loan companies and banks are independently marketing the properties they are giving loans. This helps them to guide their dedicated clientele and ensure the marketing trends remain closely monitored for future development. They generally have customer relationship executives who are assigned (usually area wise) to assist customers in making decisions. They do have good knowledge, are professionals on the job and customers do benefit if they are not very familiar with various technicalities. Each company has its own marketing device and portfolio to attract customers.
Various tie ups with groups in India and overseas have taken place this year with increase in FDI. MGF Developments based in N However, on the other side everyone or every other executive does not feel the real estate sector in India is being well marketed or ew Delhi and Emmar Properties based in Dubai have joined hands in the first quarter of 2006 for investments within the country. Nowadays most of real estate focus is on shopping malls and residential complexes. In some areas down south, the thrust is on IT parks, and corporate offices and resorts. managed. Yes, there are some gray areas, which need to be covered up. For instance, foreigners who wish to invest or firms who are looking at Indian partners are feeling the crunch of bureaucracy and familial ways of working. This obviously makes it difficult for them tapped wisely. A proper way is to have real estate marketing with the right professionals. Everyone wants to cash on the business. to do business. The potential is there but it needs to be
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• A brief overview of what marketing is
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