The purchase or sale of a home or investment property is not only one of the most important financial events in peoples’ lives, but also one of the most complex transactions. As a result, people usually seek the help of real estate agents and brokers when buying or selling real estate. Real estate agents and brokers have a thorough knowledge of the real estate market in their community. They know which neighborhoods will best fit clients’ needs and budgets. They are familiar with local zoning and tax laws, and know where to obtain financing. Agents and brokers also act as an intermediary in price negotiations between buyers and sellers. Real estate agents are usually independent sales workers who provide their services to a licensed broker on a contract basis. In return, the broker pays the agent a portion of the commission earned from the agent’s sale of the property. Property Service Division of LIC Housing Finance Limited deals with the same business of real estate. The need of entering in this field was felt by LIC Housing Finance Ltd due to increasing prospects in Real Estate business. There are many big brands namely ICICI realty, HDFC Realty, Axis Bank Realty etc. A new line of business by the name Property services Division is being launched across the country in selected centers. The function of the Property services Division includes all activities involved in enabling a prospective homebuyer select the property up to taking the possession of the same. It is thus conceived to be a one-stop-shop for all the advisory services related to the above. Property services division, which offers investors and builders a single transparent platform to buy/sell office and commercial spaces and residential apartments/flats.
Scope of Property Service Division
The Real Estate Investment Scope In India- A Lucrative And Safe Option Realty sector is one of those sectors that have always yielded high percentage of capital gain for the investors. Whether be it in the case of the developed countries or developing nations, each and every economy tries to maintain its financial infrastructure as sound as possible so that they can easily attract more number of investors and business personnel to involve with their economy. Real estate sector depicts the true economic development of a particular nation. India, one of the fastest developing nations in this world since independence; has successfully emerged as one of the lucrative destinations to reap assured benefits on real estate investment in almost all the states and cities of the nation. The modern amenities and infrastructural facilities as good connectivity roads, green environment, better transport; secured power supply are some of the standout features that have lured the attentions of investors from all across the globe towards India real estate properties. In India real estate properties can be broadly categorized mainly into two distinct groups, namely the commercial property and the residential property. The underlying line of distinction between a commercial property and residential property is noticed while noticing the use and purpose of that property. Commercial properties are commonly used as office buildings, malls, retail outlets, etc. and residential property is mainly used for personal use only. Due to the development of industries in the NCR region, more and more number of people have started to earn huge amounts of return from their jobs and businesses. Now they want to invest their earnings in more lucrative as well as less riskier investments that would give them more benefits as compared to the other options. The Indians look at the business as the more profitable option with greater dividends on investments. This in turn has led to the increase in the amounts of foreign investments in business in India. And real estate markets in India are growing continuously at the rate of 30% each year. Turning our looks...
Please join StudyMode to read the full document