Facility management services in India is a massive sector these days. This industry is growing at a huge rate, estimated to be around 15% to 18% annually, and is going to be the next big thing in the Indian industrial sector. Egged on by the infrastructural developments and the investment of capital, facility management services are being integrated into other staple industrial sectors and providing the end-users or customers with the tremendous worth of money and extreme satisfaction.
Global trends versus the Indian indigenous Facility Management trends :
The global facility management market is currently worth a whopping 35 billion US Dollars and the data analytics indicate that it is expected to grow up to 60 billion US Dollars by 2023. But the industry estimates display an exceedingly brilliant figure. According to them, the Indian facility management market is currently estimated around Rupees 58,500 crores and it is projected to grow at a combined annual growth rate of 25%, which is much higher than the global trend. This is the prime reason why big players, mostly foreign parties, are intent on investing in the Indian facilities market.
The impact of Facility Management Services in the Indian Realty Sector :
These days it is being witnessed that an increasing number of big real estate companies are integrating facilities in their inherent services and providing more value-added services by the use of high-end technology and application of cost-efficient measures. Apart from the traditional services like building, flats, villas and apartment or any other plot selling, re-selling, leasing, renting etc, real estate developers are providing specialised services which include the maintenance of buildings which is seeing a reduction of costs and operational risks. With the ongoing trend of globalisation, people are opting for better lifestyles and hence more and more residential properties are being demanded which provide modern amenities coupled with the perks of residency. These property developers are increasingly becoming facility management professionals who are providing excellent and tailor-made services to their clients at optimal costs.
Real Estate Moghuls are coming up with special facility management divisions which are meant to provide efficient services to their clients and customers. Real Estate developers who are offering such additional and custom-made services at optimal costs are attracting numerous clients and are establishing a distinguished professional image in the market. Thus Facility Management companies of India are being recognised as essential components of any kind of Real estate projects so as to obtain higher returns on investment. Organised FM services are offering the real estate developers and property owners with ways to augment the occupancy rate of buildings and maximise the lifecycle of their assets while corporate organisations are seeking to reduce operational overhead costs, improve the overall productivity and the financial statement of their organisation and execute their businesses with utmost efficiency.
Thus, the Indian Realty sector is seeing a huge integration of Facility Management services in the Reality sector and it is going to continue its trend in the immediate future.