1 minute read
1. Introduction
1.1 Real estate:
Real estate is the property, land, buildings, air rights above the land and underground rights below the land. The term real estate means real, or physical, property. “Real” comes from the Latin root res, or things. The Indian real estate market is expected to touch US$ 180 billion by 2020.
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1.2 Real estate business:
It is the profession of buying, selling, or renting land, buildings, or housing. In India, real estate is the second largest employer after agriculture and is slated to grow at 30 per cent over the next decade. The real estate sector comprises four sub sectors:
Residential real estate:
It includes both new construction and resale homes.
Commercial real estate:
It includes shopping centers, strip malls, medical and educational buildings, hotels and offices.
Industrial real estate:
It includes manufacturing buildings and property.
Land real estate: It includes vacant land, working farms and ranches. The subcategories within vacant land include undeveloped, early development or reuse, subdivision and site assembly.
