To promote excellence and high standards of operations based on just and equitable principles in transactions relating to various operations of real estate business including building, construction and marketing. To evolve criteria of real estate and construction industry and its various allied operations and to formulate a Code of Ethics for observance by all real estate developers, builders and marketing operators and to evolve a suitable ombudsman mechanism for investigating departures there from. To promote cooperation with counterpart organizations.
Real estate development is the process of building new structures and modifying existing ones to increase the property’s value. They plan, design, and finance the venture, as well as assemble a team to execute the plan. Developers handle the project from start to finish: They plan, design, and finance the venture, as well as assemble a team to execute the plan. Once the project is completed, the developer usually sells the property to a real estate investor. If the project is individual houses, a real estate developer could sell directly to the consumer.
Real estate management is utilized for any type of rental property, including residential rentals or commercial real estate. The management company helps manage the daily operations of the rental property or portfolio of properties on behalf of the landlord. The manager oversees rental operations as well as the upkeep of the property and coordinates the buying and selling of a property with a real estate agent. They handle all the maintenance requests from the tenant and will hire the appropriate service to repair any issues.
There are two types of construction:- 1) Residential, 2) Commercial. Residential construction refers to the building or renovation dwellings. The vast majority of residential construction jobs are small renovations, such as addition of a room or renovation of a bathroom or kitchen. Commercial construction includes apartments, office and retail buildings, hotels, schools, public buildings, industrial and manufacturing buildings, highways and bridges, sewers, pipelines, power lines, power plants, and other civil engineering projects.
Investment real estate is real estate that generates income or is otherwise intended for investment purposes rather than as a primary residence. It is common for investors to own multiple pieces of real estate, one of which serves as a primary residence while the others are used to generate rental income and profits through price appreciation. The tax implications for investment real estate are often different than those for residential real estate. Investment real estate can provide opportunities for investors to build wealth, and increase income.
