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Property Management - A Booming Section of Indian Real Estate

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Nandini Mukherjee, Special EditorIndia has shot to the top of the list of preferred destinations for real-estate investment in the eyes of major institutional investors. According to Thomson Reuters, it is also the fastest-growing major economy, set for growth of 7.0percent next year after this year’s projected 7.2 percent. The country’s young workforce which is nearing home-buying ageand stands to benefit from the country's economic expansion is expected to significantly drive the real-estate market over the next10 years.
With the continued migration of residents both within the country and abroad, investors in real estate have all along been finding it difficult to manage their properties during their absence. There were a few options except to rely on relatives or friends for such needs. But time is changing especially with India liberalizing investment norms by foreign companies. One area that has virtually caught the attention of the foreign companies involved in property management is the tremendous potential at metros and secondary towns.

Many real estate professionals have looked at property management and changed their minds when the scope of the management tasks and record-keeping are fully understood. It's a niche for the more detailed and responsive in the profession. Plus, a good management company brings its know-how and experience to your property, giving you the peace of mind that comes with knowing your investment is in good hands.In our current edition, we have featured ‘10 Most Promising Property Management Companies’. These companies act as the owner's partner in maximizing the return on investment of the property and deal directly with prospects and tenants, saving you time and worry about marketing your rentals, collecting rent ,handling maintenance and repair issues, responding to tenant complaints, and even pursuing evictions.