In India for many years Real Estate is considered to be a niche activity where every subsequent activities associated with the development. That are performed by separate entities/organizations. The above process doesn't work every time as it presents limited accountability on entities towards the end result of the real estate project.
In India "Development Management" is not a very popular concept as there are different entities performing different activities in one project. One entity performs feasibility studies of the project, another works on shop drawings and some other entity do works on construction. Thus whole process creates confusions and subsequently delays the whole process of development. It is very important either to involve all the entities together for any project completion or appoint one entity that can perform all the activities or most of the activities to increase accountability. Since; it is difficult to bring all the entities together for the completion of project, it would be better if one entity manages all the risks associated with a particular project.
The Development Management is a new concept in India where one entity manages all the risk aspects of a project from the planning till construction stage.Presently, this is a new school of thinking and this will take some time for all the stakeholders in Real Estate sector to fully accept this concept.
About Projectwell:
ProjectWell is India's first and only Development Management Company. ProjectWell views projects from a 'cradle to cradle' perspective and derive solutions for the entire life-time of a real estate project. ProjectWell is involved in developing integrated communities which take you back to your childhood.
Projects in India have traditionally changed ownership first during the transition from land owner to developer and then during the transition from construction to occupancy stages. With change of ownership comes changes in the perspective towards the project. ProjectWell looks at project not in 3 different stages, but in a holistic manner, considering its evolution throughtout its life span. ProjectWell's approach towards conceptualising projects and then managing it during construction and occupancy offers seamless, process oriented solutions towards the successful run of a project in its entirely.