ROLE OF FACILITY MANAGEMENT IN THE REAL ESTATE SECTOR

Introduction
The real estate business in India is on the up rise expecting a spike in growth slated for about 30 % at the minimum in the next decade. The change is rapid given the downturn period (due to the economic crisis, recession and inflation) majorly because the commercial sector is well on an exceeding growth in its own accord to expand and grow its business.

On the contrary, the facilities management sector is concurrently scaling heights with this revolutionary spike. From covering the steward services to looking after the operational upkeep of functional infrastructures, it has grown into an inevitable demand among the complete real estate ecosphere. Facilities management renders professional orchestration at buildings making
the day to day operations at the real estate business much easier. From saving a business from critical system failures to offering economies of scale and cost reduction, facilities management aligns focus on the productivity of a business and offers services that a business can’t handle alone:
 24/7 operations ensuring Hygienic and safe operational spaces.
 Building maintenance by professionally trained and qualified personnel.
 Preventive and Planned Maintenance (PPM) programs ensuring limited breakdowns, and timely replacements of faulty or underperforming parts.
 Use of modern tools :Building Maintenance Systems (BMS) and Computer Assisted Facilities Management (CAFM)
 Automated monitoring systems to identify the potential threats in the system.
 Periodic maintenance of MEP systems to ensure health and safety while also addressing the waste management issues.
 Hiring service vendors, like food trucks or fitness trainers
 Catering and hospitality services
 Business support services
 Environment and health safety

 Security services
 Use of modern technology: SIEMENS, SALESFORCE, MAIL CHIMP and SEND GRID.

This rapid awareness of facilities management among the real estate sector In India has attracted many overseas organizations to operate in the country. Precisely why India’s facilities management market is valued at an annual rate of Rs15, 411 crores ($3.3 billion) and is also expecting an annual growth of 25–30% over the next 5 years, clearly defining Facilities management to be the next big haul in the real estate sector.

In addition to the base responsibilities offered by facilities management, it makes scaling the impact of its processes practicable while constantly improving its processes to provide further improvisation. The result of this efficacy has shown a visible rise of 60–70 % in the effectiveness
of a business while also maintaining its sanity in a seamless manner.
The Road Ahead With the Indian real estate gamut expecting to hit 180 billion (US$) by 2020, the Housing sector is expected to add around 11% to India’s GDP by 2020, adding to as much as 11 percent of the country’s total GDP which is just 5 percent of the present. This is where facilities management
will widen its horizon by 25–30 % in the coming years and strengthen its existence, while envisioning a heightening growth, where its unnoticed existence will come further ahead. This is predicted to affect the real estate business in a promising manner, where the spike in the real estate sector will accelerate the rising demand for facilities management.