Real estate is the modern term for land and anything that is permanently affixed to it. Fixtures include buildings, fences, and things attached to buildings, such as plumbing, heating, and light fixtures. Property that is not affixed is regarded as personal property For example; furniture and draperies are items of personal property.
Real Estate or immovable property is a legal term (in some authority) that includes land along with anything permanently attached to the land, such as buildings. Real estate (immovable property) is often considered equal with real property, (also sometimes called realty), in compare with personal property (also sometimes called chattel or personality).
With the development of private property ownership, real estate has become a major area of business. Purchasing real estate requires a significant investment, and each parcel of land has unique characteristics, so the real estate industry has evolved into several distinct fields. Cities such as Vancouver, British Columbia have experienced remarkable growth in real estate prices in the new millennium. Specialists are often called on to valuate real estate and facilitate dealings. Some kinds of real estate businesses include:
- Appraisal- Professional valuation services
- Brokerages- Assisting buyers and sellers in transactions
- Development- Improving land for use by adding or replacing buildings
- Property Management- Managing a property for its owner(s)
- Real estate Marketing- Managing the sales side of the property business
- Relocation services- Relocating people or business to different country
Within each field, a business may specialize in a particular type of real estate, such as residential, commercial, or industrial property. In addition, almost all construction business effectively has a connection to real estate.
However, for technical purposes, some people prefer to differentiate real estate, referring to the land and fixtures them selves, from real property, referring to ownership rights over real estate. The terms real estate and real property are used primarily in common law, while civil law authority refer instead to immovable property. While foreign capital rushes into the Indian real estate market, the long-term future of the industry lies in the hands of Indians themselves.
There are two major categories of real estate development activity land development and building development (also known as project development).Land developers typically acquire natural or unimproved land often referred to as raw land, real property with no improvements. Building Developers acquire raw land, improved land, and redevelop able property in order to construct building projects.
In India the real estate market breadth and expansion has been very large during the past four years and has resulted in prices of land and buildings rising by multiples in several cases.
Indian real estate has huge potential demand in almost every sector especially commercial, residential, retail, and industrial, hospitality, healthcare etc.
Indian real estate has emerged as a booming business in the recent past in India. Many firms are gearing up to cash in on India’s booming economy, making long term as well as short term investments in Indian real estate market. The geographical diversity of India offers many lucrative real estate options as well as opportunities for both small and big investors. One can invest in residential complexes, shopping malls, commercial offices and land for agricultural purposes. India being a major tourist destination, it encourages investments in hotels, guesthouses and resorts for tourists both local and foreign.Â
The improvement in income levels, the strong economic growth, the development of strong retail lending mechanisms and the interest of Indians to invest and develop homes, farm houses, weekend homes and real estate investments are all driving the real estate market.