The real estate market of India has a chief role in setting the path for the economy of the country. The realty sector stands second after agriculture in terms of generating services, employment and heavily contributes towards the GDP (gross domestic product). The ITES and IT sector would alone need office space of millions of square feet spaces, becoming a major driver of the real estate market of urban India for the next couple of years. The organized retail industry of India will also witness an upsurge of land demand in the next couple of years additionally. Therefore, the growth rate of real estate market is being driven by tier-one and tier-two towns/cities like Delhi, Mumbai, Bangalore and UP.
Approximately 80% of real estate enterprises in India deal in residential space, and the remaining 20% are engaged in creating shopping malls, offices, hospitals and hotels. A rise in the number of foreign investors is seen in the construction sector of India that is resulting in a sudden surge in investment. With this there is increase in the demand for warehouses. And here comes the role of the industrial real estate development companies that work as a multifaceted business process, covering activities that range from the renovation and re-lease of existing constructions to the purchase of raw land and the sale of developed land. Be it a warehouse space in Delhi or one in Mumbai, they are functional in all the places where real estate sector is active. We must understand that real estate development is different from construction, although many developers also manage the construction process. The real estate development process is slightly more complex and challenging as compared to usual construction business.
Approximately 80% of real estate enterprises in India deal in residential space, and the remaining 20% are engaged in creating shopping malls, offices, hospitals and hotels. A rise in the number of foreign investors is seen in the construction sector of India that is resulting in a sudden surge in investment. With this there is increase in the demand for warehouses. And here comes the role of the industrial real estate development companies that work as a multifaceted business process, covering activities that range from the renovation and re-lease of existing constructions to the purchase of raw land and the sale of developed land. Be it a warehouse space in Delhi or one in Mumbai, they are functional in all the places where real estate sector is active. We must understand that real estate development is different from construction, although many developers also manage the construction process. The real estate development process is slightly more complex and challenging as compared to usual construction business.
In fact, to help drive competitiveness, every manufacturing company desires the right provisions, sourcing and management of warehouses and delivery services. This is steadily becoming a difficult mission to acquire owing to its complex structure. Some warehouse spaces in Chennai offer warehousing services that can be modified or have ready to move in spaces.