By Dr Suvrokamal Dutta
Expansion in services of quality brokers and consultants would bring the much-needed transparency in Indian realty sector. Competition in the real estate business and booming property market are modifying the rules of the game, slowly but steadily. The best part is that this has positively impacted customer service in the sector.
As the Indian market has grown in terms of size, a new crop of educated people is joining the brokerage business. The India Street has noticed that Indians are going out of the country to UK, USA, Canada and Australia to get specialized education on the sector. What’s more, in India too, plenty of educational institutes have started imparting education in the real estate sector.
According to experts, such educated people have started to create positive impact on the property broking business of India. There is no doubt that these highly educated brokers and market intermediaries are working overtime to bring in transparency in transactions and to maintain high standard of customer service.
After the introduction of top class developers and investors, it’s now the turn of market intermediaries to improve their service standards. The pivotal factor here is that plenty of global consultancy firms such as CB Richard Ellis, Cushman and Wakefield and DTZ have already started their operations in India.
Apart from offering the consulting services to their customers, they also assist in sale and purchase of big-ticket properties. But, this has left huge gap in the demand and supply in mid segment of the market. Taking into account the big opportunities in the country, wide array of foreign broking firms are eager to enter the Indian real estate market.
That’s why, the next time you go to your neighborhood property dealer, don’t be surprised if you find LJ Hooker, Century 21 or Remax broking services instead of the usual Choudhary Properties or Malhotra Property Services. Sources tell The India Street that Australia based LJ Hooker has already set up its shop in India and expected to touch Delhi by the end of this year. US based Century 21 and Remax are in the advanced stages of launching their services in India.
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