We have a basic idea about what the real estate industry is and why it is needed as in some form or the other manner every person has been linked up to this industry.
Real Estate industry is connected with land and buildings. People working in this industry are generally the people who are into manufacturing, buying or selling of land and buildings.
Finding the right land and developing a building on that land is not that easy approach as it seems to be and therefore people need to pay a little more attention towards this industry as well as there is immense growth and development in this industry.
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Major Categories of real estate industry:-
There are various categories on which real estate industry work on and these are as follows:-
- Apartment: The concept of apartment is emerging in India since 2000s in tier 2 cities of India and in Tier 1 cities of India it emerged in late 90s. The apartment is an ownership of an individual unit or area in a building. The owner of an apartment is not necessarily the owner of the entire land or building.
- Terraced House: In India we can say it as a colony or a unique lane of buildings where there are similar or attached buildings with same shared walls in continuous rows each having their own terrace at the top.
- Multi- Family House: This is usually seen in joint families or houses in India where people love staying together with their family but in a manner that each has their own different floors and sections in the house which can be considered as an apartment. The idea of a multi family house is living on the same land with your own family but with individual units where you have different kitchens and spaces.
- Housing Cooperative: This is usually a type of apartment only where various cooperative societies provide ownership rights to the people as their shares for a particular area or apartment in that particular cooperative society.
- Bunglows: In this a person is the owner of the entire land and building on which the house is made. Bungalows are usually luxury in nature and are grand in size.
- Duplexes: A double storey building or a house which has two units with one shared wall is considered as duplexes.
There are other categories as well in this such as mansions, tents, cottages, villas and so on.
