What is the basic factor which is involved in real estate? | WSHRW
Real estate in the sense we know land is the basic thing we need to do business. Without the land, this real estate business can’t run. Real estate is an asset that includes the land, or its related property, etc… There are four main aspects of real estate. Let us see one by one.
- Land is the basic aspect of this business. By using the land, we can earn a lot and lot. There are a lot of real estate agents available; by using them we can buy good land.
- Residential, here buildings are built inland and make it available for rent. It includes an area of single-family houses, multi-family houses, apartments, etc…
- Commercial, here the empty land is made available for commercial purposes. Land and buildings are used to build shopping malls, stores, medical centers, colleges, schools, hotels, lodges, etc…
- Industrial, here the land and its buildings are used to do industrial business, research works, mechanical works, transportation, unit preparation, etc… These are the four main components in this field.
How to register our land in this real estate business?
Before stepping into this topic, we must know what is meant by that real estate regulation authority bill. This is the act passed by our government to avoid the frauds involved in the business. This act is very useful for our publics. Registration of our land includes several processes. First, we need to create a login ID and then an appropriate password for that one. After creating a password, we should mention the actual size of our land which we need to register. This registration process is safe for our land and it is legally approved and protected. So, there is no chance of cheating. Property owners, middle man, brokers are the persons who need to register their name in this business activity. So, it becomes easy for us to identify who is the real and who is the fraud. The person involved in doing the real estate business but without registering in the RERA act means he will be punished legally. These rules are only for those real estate business agents.
What is the positivity involved in real estate?
Mainly we can get a lot of business opportunities in this field. It is the lifeline for many peoples. After agriculture, this real estate business plays a vital role in the development of our economy. There are different jobs like, in the construction site workers are needed. After that, for the sales and marketing, we need a sales manager for sales and for marketing we need an accountant respectively. Brokers play an intermediate role in the landowners (sellers) and buyers. Additionally, professionals like medical representatives, lawyers, designers, etc., are required. Buying an own house is the dream for everyone in the world. Real estate agents are available to satisfy our needs. There a lot of normal people who can become a millionaire by doing this business. Real estate brokers are also really helpful for us.