Commercial real estate business in India is in boom again, with the rate of office space absorption had grown by 15 percent in 2009, when compared to the previous year. The expected growth in 2010 is around ten percent. In todays scenario companies are looking to shift or extend their official operation to a new location due to various reasons. Economic growth, separate functioning of the departments, increase in employees and renewal of lease becoming costlier are some of the factors which drives the companies to look for the extended or new office spaces. For the companies in metro politician cities like Bangalore, the first choice will be moving to the fridges of the city from Central Business District (CBD). Other companies are moving to the business parks those mostly located out of the central activity of the city.
Facts apart, there are several issues to be considered when a company gets shifted. More obstacles come into picture when the process gets started. The primary concern is, negotiating the best lease. Since, office space is the second highest business expense for a company only next to the employee wages, negotiation plays important role. Leverage, vacancy rate in that locality and the rate other players are ready to pay for the same place are the major factors to be considered in the negotiation process. Though there is no definite number to define the timeline for the relocation process, it is very important to complete the process within time. The time span required for the complete relocation depends on the size of the company, the distance of relocation and the research time required to settle down the process. Each companys relocation timeline will be unique depending on these factors.
The toughest task is to hand over the process to a good agency or a broker to find out or to buy the property. A good brokers assignment is not just to find or sell property, but also involve in all through the process and trying to gratify the short and long term plans of the company. It is very important to select the brokers. The plans and needs of the company should be very clear. By that the company can go for an expert who matches best for their plan. Good deal comes out when the company has a series of good property options to determine the best fit. But, when comes to reality, it is tough to stumble on such kind of brokers. They are very much money minded and has less properties and knowledge on the market. In the present situation of real estate market, it is nightmare for the corporate to find out the best agency or broker who has vast knowledge and research results for their property search.
On the other side of the coin, when a company gets obviously the employees will have to relocate according to their new office location. Again it comes under the companys response to take care of their employees relocation. But there is no relocation firm in India to provide budget relocation service for the company employees. Though there are some relocation firms, they are very much costly and looking to serve only for the high end executives of the firm.
So, the Indian companies are desperately in need of a research firm which matches the companys expectation in their property search. That relocation firm or individual should have the complete research on the market and should capable to meet the companys expectation in every field. It is an additional advantage that the relocation firm can provide employees relocation as well. Absence of such a handy business in India, keeps the companies relocation process in back foot.
As an initiative implementation, there is new blood surged into Indian real estate market. There is a fresh team in Bangalore named RelocateEasily (http://www.relocateeasily.com) started to exploit their first mover advantage into this market. By their comprehensive research on Bangalore real estate market and the relationship with the builders and owners of the property, they made the relocation process easier for the companies. By the personalized property search, they read the requirements and filter out the properties accordingly. Thus, they are completing the entire process with in a short span with greater satisfaction to the companies. As an additional Bonanza, they even take care of the employees complete relocation, including the utility connections for a reasonable price package. This high professional real estate and relocation firm, founded by IIT graduates already got a huge response among most of the Bangalore companies. So, no doubt that very soon, the firms like RelocateEasily will emerge all over India. Lets hope that the professional real estate market plays huge role in companys shifting and extension which is positive sign for the growth of the Indian economy.
Facts apart, there are several issues to be considered when a company gets shifted. More obstacles come into picture when the process gets started. The primary concern is, negotiating the best lease. Since, office space is the second highest business expense for a company only next to the employee wages, negotiation plays important role. Leverage, vacancy rate in that locality and the rate other players are ready to pay for the same place are the major factors to be considered in the negotiation process. Though there is no definite number to define the timeline for the relocation process, it is very important to complete the process within time. The time span required for the complete relocation depends on the size of the company, the distance of relocation and the research time required to settle down the process. Each companys relocation timeline will be unique depending on these factors.
The toughest task is to hand over the process to a good agency or a broker to find out or to buy the property. A good brokers assignment is not just to find or sell property, but also involve in all through the process and trying to gratify the short and long term plans of the company. It is very important to select the brokers. The plans and needs of the company should be very clear. By that the company can go for an expert who matches best for their plan. Good deal comes out when the company has a series of good property options to determine the best fit. But, when comes to reality, it is tough to stumble on such kind of brokers. They are very much money minded and has less properties and knowledge on the market. In the present situation of real estate market, it is nightmare for the corporate to find out the best agency or broker who has vast knowledge and research results for their property search.
On the other side of the coin, when a company gets obviously the employees will have to relocate according to their new office location. Again it comes under the companys response to take care of their employees relocation. But there is no relocation firm in India to provide budget relocation service for the company employees. Though there are some relocation firms, they are very much costly and looking to serve only for the high end executives of the firm.
So, the Indian companies are desperately in need of a research firm which matches the companys expectation in their property search. That relocation firm or individual should have the complete research on the market and should capable to meet the companys expectation in every field. It is an additional advantage that the relocation firm can provide employees relocation as well. Absence of such a handy business in India, keeps the companies relocation process in back foot.
As an initiative implementation, there is new blood surged into Indian real estate market. There is a fresh team in Bangalore named RelocateEasily (http://www.relocateeasily.com) started to exploit their first mover advantage into this market. By their comprehensive research on Bangalore real estate market and the relationship with the builders and owners of the property, they made the relocation process easier for the companies. By the personalized property search, they read the requirements and filter out the properties accordingly. Thus, they are completing the entire process with in a short span with greater satisfaction to the companies. As an additional Bonanza, they even take care of the employees complete relocation, including the utility connections for a reasonable price package. This high professional real estate and relocation firm, founded by IIT graduates already got a huge response among most of the Bangalore companies. So, no doubt that very soon, the firms like RelocateEasily will emerge all over India. Lets hope that the professional real estate market plays huge role in companys shifting and extension which is positive sign for the growth of the Indian economy.
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