Streamlining realty consultancy in India

Updated: Sep 30 2007, 06:40am hrs
Harinder Singh Hora, CMD, Realistic Realtors Private Ltd

Internationally high networth individuals, real estate investors, entrepreneurs and even many developers, who are entering into real estate development business, hire professionals for certain specialised services, a kind of outsourcing as prevalent in other sectors. In this process, a transaction manager looks at project feasibility and viability process to research and analysis to demand and supply analysis in all segments, future projections and market conditions.

Further, transaction management (TM) includes due diligence processes to entire project management to establishing right marketing strategies for differentiating the project to legal paper work and entire coordination etc.

When we talk about help in leasing (whether corporate or retails) or investments, based on its local market knowledge and expertise, transaction manager may act as an exclusive Tenant or Landlord representative or both parties representative depending upon clients requirements.

Some of the major services TM provides include: need analysis, geographical survey, price analysis, etc. TM also takes care of lease renewal and analyses prevailing market rates for leasing and advises the client accordingly.

Internationally TM has been very successful in various areas of realty and people have been tremendously benefited by advantages that it brings to any transaction. India being a booming but an unorganised market today requires professional organisations that can implement transaction management and create a win-win situation for its clients and end-users.

Through experience and research it has come to the notice that establishing right strategies, market analysis, pricing and confidence in the market is not easy for new entrants and the concept of transaction management is going to be of huge benefits.

Transaction management can be customised to the extent that either the client can outsource the entire gamut of services from land procurement, project feasibility study to turn key or just sales, leasing services, documentation or planning etc.

Effective transaction management reduces expenses, saves overall project management time, enhances efficiency, establish a competitive advantage, and provide necessary flexibility.