Want to know an interesting fact? The Indian real estate sector is expected to reach US$ 1 trillion by 2030. And it will contribute 13% to the country’s GDP by 2025! Given the statistics, it’s no surprise that many people are looking to enter the market.

While the industry is flooded with some established players, it is still a booming market with ample opportunities for the newcomers. Do you also want to kickstart your entrepreneurial journey in the real estate industry? Well then, read on to find how to start real estate businessin India.

1. Pick a speciality

Considering how diverse the real estate industry is, there are plenty of roles and opportunities to choose from. So start by researching the different professions available and decide on a domain that suits you. You can make a successful career in land investment, commercial brokerage, or residential brokerage, and so on. The trick is to focus on a single speciality and expand your business as you grow and learn.

Additional Read – Do You Need to Pay a Down Payment for a Business Loan?

2. Register your business

Now, the next step would be to register your business with the authorities. To begin with, you will have to register under RERA for the state you are operating in. You can hire a consulting firm to help you through the process. Once done, you’ll receive a RERA registration number as a reference for all future dealings.

3. Obtain licence

After successfully registering your business, you need to obtain a real estate agent licence, GST number, and service tax registration. But if you decide to work individually, you also need to file your Income Tax and provide the documents for RERA registration.

Getting licensed is crucial to start your journey right if you wish to get a loan at affordable business loan interest rates.

4. Develop a business plan

Brainstorm ideas and create a comprehensive business plan. Ask questions like:

  • What is your business vision?
  • How do you plan on funding the business?
  • How do you wish to expand?

Put your industry knowledge to use and identify your challenges, business competition, targeted areas, and more. This business plan will not only provide you with a direction but also help qualify for a business loan.

5. Expand your network

Want to have a successful run in the real estate sector? Get started on your networking! Once you’ve established your business, it is important to connect with people from the industry to expand your portfolio. This will help you create a valuable presence in the market and earn substantial business through your contacts.

And while you’re at it, don’t forget to advertise your business and create your online presence for better growth opportunities.

Additional Read –Common Hurdles to Tackle While Availing Business Loan

The bottom line

Looking for reliable finance options to set up your new business? Your search ends right here with Tata Capital! With our wide range of loans for a business at affordable business loan interest rates, you can turn your brilliant business idea into reality. Enjoy quick approval and disbursal, structured EMI plans, and flexible repayment tenure.

Check out our business loan EMI calculator to plan your EMIs now.

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