Indian real estate servicing facilities, so far, have been mainly for buying, selling, and renting. Rarely do we come across elaborate services being extended to a client. Now, here is a company providing all that.

The services listed by 'homeshikari.com', a recently set-up portal, one of the TTK Group of companies, are:

Obtension of E.C., Khatha; payment of property tax; electricity bill name transfer; rental agreement assistance; tenant vacating inspection; tenant management; property maintaining; property inspection; legal opinion; selling/buying assistance; property showcase; search assistance; utility bill payment and any other special service they are called upon to perform. 'You name it, we have it', appears to be the approach. Perhaps, what one may also require is maintenance-cum-repair and documentation (instead of simple legal opinion) as two other value-added services. However, let us flag the "tenant management" service included among others, which is normally available in western countries like the U.S.

On the face of it, it is managing the affairs relating to finding a tenant, completing the documentation formalities connected with the renting activity, supervising the compliance of terms of lease/rental, ensuring rent credits to the owner's account or to his banker who has financed the purchase/construction of the house, inspecting the property when vacated by the tenant, assessing the cost of repairs etc. An important feature of the real estate agency management facilities abroad is that they are registered agencies under relevant laws of the land. They are also qualified law firms.

Real estate consultants abroad normally offer a comprehensive set of services like property counselling, placement of property, determination of fair value, investment advice, risk management plans, tax saving plans, opinion on title and other legal advice, finalisation of deals including documentation, rental management etc. In most cases, they are also qualified lawyers specialising in property matters. Some consultants even have expertise in strategic planning, financing, taxation, etc. Some are having long-term experience in strategies and offer practical hints to clients. Broker-consultants may, in addition to general brokerage functions, perform services like detection of flaws/inadequacies in deals referred to them after carrying out searches.

The Indian situation is that, as yet, there is no comprehensive legislation covering real estate broking here. The present dot.com portals have been set up basically to provide a platform for listing of 'offers' and 'requirements.' For example, Quikr, 99acres, sulekha, Magic bricks etc. Innovations like expos and group visits are organised once in a way by some portals. On the Indo-international side, there are a few consultants and researchers of repute such as Jones Lang La Salle (India) and Knight Frank India operating in the property market. Indian companies include HSN Realty Services, India Property and Sarath Didla. What is required to be done in the larger interest of the consumer is creating a comprehensive legal framework. There is also a need for laying down rates of charges/fees, commission, ancillary charges etc. Perhaps, there is also a case for customer education and regulator set-up at the apex and State levels.