According to a recent report, the Indian facilities management market is expected to grow almost 18% by 2022 and cross USD 19 billion (approximately Rs. 131,461 crores). This will make facilities management one of the most extensive domains in the Indian real estate sector, and as such, you should leverage it to your advantage.
Let’s delve into the details of facilities management and how it offers several benefits to both real estate developers as well as home buyers.
What is Facilities Management?
Facilities management involves bringing together people, place, and process within an environment to improve the quality of life of people and the productivity of businesses.
In real estate, facilities management grapples with the management of operations and maintenance of buildings, premises and community environments on behalf of the property owners.
This may include offering 24*7 security services (both guards and CCTV cameras), fire safety arrangements and disaster management, electrical services, plumbing, housekeeping services, car parking services, and more.
In addition to maintenance and operations, facilities management also involves ensuring the well-being of the occupants.
With an increasing demand for large scale residential complexes and gated communities, the need for efficient facilities management is also on the rise. Tapping into its potential can reap several benefits for homeowners and developers everywhere.
How does Facilities Management Benefit Developers?
Modern home buyers are quite keen on availing the best modern features and amenities at their homes, to live their lives in luxury and comfort. If the building offers special services such as security, parking, housekeeping, and fire safety at an affordable cost, homebuyers will find such properties more attractive, cozy and convenient.
Regardless of whether or not the real estate sector is booming, developers who provide facilities management services tend to fare better. After all, clean, safe and attractive properties supervised by qualified professionals grab the attention of any potential home buyer.
Since facilities management greatly relies on innovative and modern technology platforms, it also makes developers come across as more sophisticated and insures them against critical failures.
How does Facilities Management Benefit Home Buyers?
Building maintenance is a very comprehensive term that can cover services such as decorating, plumbing, carpentry, and tiling, among others, in addition to constantly improving a building’s infrastructure.
For homeowners, these services are extremely enticing. Properties with facilities management provide a superior user experience with living spaces that reflect security, cleanliness, hygiene, and higher standards of living.
The appeal is greater when services are offered round-the-clock and the professionals providing these services are well-trained, and highly qualified professionals with excellent communication skills.
Urbanization, the development of smart cities, and rapid economic growth have revolutionized the entire real estate industry by increasing the demand for efficient facilities management services.
As a result, the range of services covered by facilities management also keeps growing to cater to the demands of the modern Indian home buyers. Offering strong facilities management services will only fuel growth in the real estate sector and present developers as well as home buyers with a win-win situation.