Over the past few decades, India has been a hub for some of the largest corporations in the world and even the pandemic hasn’t changed this fact. Although, during the lockdown period, business leaders all around the globe faces major challenges to cope up with the situation. But those hard times also compelled each and every entrepreneur to think outside the box.
Despite the rising threat of COVID-19, the real estate sector in India is showing great signs of healthy growth in 2022.
So, if you are planning to enter this market and carve out a niche for yourself, it would be better that you do your homework before taking the actual plunge.
In this blog, we will provide you a comprehensive list of ideas related to real estate businesses that you can start in India, being an entrepreneur:
1. Brokerage Business
This requires you to network and utilize digital marketing to create leads for yourself and convert those leads by showcasing relevant properties to potential clients. This requires excellent market knowledge and it is better to start with a niche like sale of residential farm house properties. It can be started with a limited budget but networking and surveying of properties require a lot of efforts with relatively limited results in the beginning.
2. Managing Vacation Rentals
This involves a lower upfront investment. This can be done by utilizing any spare capacity or real estate with you or your family and marketing it on Airbnb as a vacation rental. It requires an excellent level of detail and a high-quality service because it is like running a small hotel business.
This requires operating commercial spaces as coworking. It can be done by taking properties on rent and improving them or getting landlord to invest and operating the space as a coworking space for entrepreneurs, professionals and corporates. This may require a lot of marketing to establish your brand as there is a competitive landscape. The market of coworking spaces has grown by leaps and bounds in the last few years. Now, if you search “coworking space in Delhi-NCR”, or “coworking space in Delhi”, you will get to see plethora of options at different locations.
Coliving has gained a lot of popularity in the recent times. In order to run such a business, an entrepreneur can identify a suitable property and invest to convert it into a coliving or get the landlord to invest into the space. It can thereafter be managed as a coliving brand for professionals and students.
5. Buying, renovating and flipping
This requires purchasing of houses which are not in a great condition for cheaper rates and renovating / constructing or improving the properties to sell them at a substantially higher price thereafter. It also requires a huge upfront investment and an excellent contracting and architecture team to implement.