In modern India, real estate business is one of the most profitable businesses that a person can do. A real estate company can earn huge and can be a place for employment of many people. Real estate means the property consisting of land and the building on it with the natural resources such as water, minerals or crops. Real estate developers or Construction developers are just a project owner or both the contractor or developer of any kind of construction. In their capacity, every developer has some sort of obligations that need to be talked about clearly in the contract documents. Developers buy land, finance real estate deals. They build their own project or have other builders build a project, create, control and guide the process of development from the beginning to end. Actually, they take a big risk to create or renovate a structure.
It’s not mandatory that every developer will complete a single project on its own. Sometimes a project can be divided into many developers part by part. For example, some developers source a property, get the plans and approve it before selling it with a premium price. Alternatively, that thing is bought by another developer and they start development with that plan and permit. Developers work with many counterparts in a project like city planners, engineers, surveyors, inspectors, lawyers, leasing agents etc.
The main thing is there is no particular credential or license is required for a person or a company to call them real estate developers. The already developed city does not need developers to develop. It needs a developer to maintain it. But the growing areas, mainly the outskirts of the main city is always a good position for the developers to develop it and extend the city limit. Like the top developers of Gurgaon are now developing the city and extending the city area of Delhi. As Gurgaon is connected with Delhi metro the development is taking its pace. There are many developers are working right now but the top developers of Gurgaon are making the big projects like the shopping malls, colleges, big office buildings. One after another sky risers is taking its place on the soil of Gurgaon.
Not only Gurgaon, in any metro city the outskirts of the city area is under development from last few years. The city area is increasing due to these high risers. The progress of extending city area is rapidly growing & the horizon is slowly hiding behind these big giants.
Author: Shreya Dutta