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Property management is an integral part for residential realty business and plays a critical role in enhancing the overall efficiency of an establishment.
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The Property Management business in India is still in its nascent stages. With the changing business requirements and emergence of a new landscape, an integrated approach towards managing real estate and facilities has gained huge significance in the last decade or so.

From where it began
The roots stem from the simple principal wherein companies by focusing on their core business and activity achieve greater success and partner with the best in the respective areas that could produce the best results in the long run. Over the years of rapid economic growth, residential realty in India have reached global standards in delivery and with the exposure of the management to the best environments in the world, Indian office environments have changed drastically.

The demand for residential space has sky rocketed over time and the quality of the space has undergone a drastic change. Over time, Grade A buildings have begun to resemble the ambience that top notch structures to provide their occupants. The look and feel of residential buildings has attained prime importance. Many building over time have been refurbished and upgraded to meet these criteria.

The concept Property management
A concept is a relatively new phenomenon in India as compared to its western counterparts where these services have been outsourced for several decades now; its scope is also perceived quite narrow and non- technical. As the market for these services in India is yet to go a long way, it primarily refers to soft jobs comprising housekeeping, cleaning, safety and security, building and ground maintenance and maintenance of utilities and communications infrastructure, operation and maintenance, landscaping, gardening besides catering services.

Changes undergone
The nature of residential building has undergone a drastic change and the new residential buildings are built with the state of art technology to rival any in the world. Modern residential buildings have technology not only in construction, making them taller but also how they operate. Buildings today also have the ability to control humidity in areas. The IT equipment installed contains precious corporate data that are almost spoilt by the technology surrounding them. This includes Precision Air conditioners that control not only temperature but also humidity.Water supply is no longer via overhead tanks but through a network of pipes and pumps from the basement and directly supplying water at the right pressure to the taps. The pressure is controlled, ensuring you get the right pressure no matter where you are.

Present scenario
The buildings today have an elaborate Fire Protection System with detectors to sound an alarm the moment the smoke is detected. Each building also today has a mandatory sprinkler & hydrant system ensuring that they break upon fire automatically, spraying the area with water to douse the fire. The pumps supplying this water are automatic, ensuring a continuous pressurized water supply.
Monitoring of these and many other systems today is being controlled by an elaborate Building Management System that hooks up to each of these utilities and gives the operators the ability to not only monitor critical parameters such as temperature, pressures, water levels but also many time to control the operation of the installations. Buildings today with so much of technology, installations, and utilities cannot be left unmonitored. They need to be operated and cared for to ensure that the designed space functions optimally and provides its occupants with the best work environment which is extremely productive.

The offerings
Companies today provide services to manage these buildings professionally given to understand, the complexity of buildings and the increasing demand not only on the engineering side, but towards keeping the building fresh, lively, clean which can be accomplished only with a dedicated set of professionals. A critical aspect of look and feel is Housekeeping services which has evolved to a science with the use of different surfaces both vertical and horizontal, each of which requires separate care and cleaning processes. Today, you need a range of cleaning equipment's to ensure that the facility appears top notch and is an apt fit for the residents.

Common Area Maintenance
 Residential spaces today incorporate small cafes, on the go eateries, green walls, and landscapes, lounge environment all in an effort to ensure that the occupant has the maximum comfort and leisure treats. Creating this complex work environment have evolved over time and now involves a focused team on construction and a separate team who would be commissioning the building.

Operating a building involves training the set of operators to handle the extremely expensive and complex installations. With Grade A residential buildings seeing a colossal growth, it is significant to ensure high end maintenance of these buildings through professional services. The developer charges these expenses to each occupant mostly on sq. ft. basis called as Common Area Maintenance (CAM) charge. As more and more developers realize the need to maintain the building professionally, the importance of CAM has become critical and is the most heavily debated topics.

CAM includes all the expense incurred like Security, Technicians, Fa├žade cleaning, Pest control, etc., Annual Maintenance Contracts cost for high side equipments, running cost of the building, common area electricity and Water and provisions such as sinking fund. The trend that could be spotted in the forthcoming years would be a Transparent CAM model where books of accounts are open for occupants view.

Attachments provided or not
Realising the dire need of Property Management some of the city's, residential buildings like Auris Serenity an upcoming Urben luxurious project in Malad have ensured that their establishment has the most suitable environment provided for their prospective investors and their buyers. The property management offers spectrum of services and has been working closely to formalise policies and process for visitor movement, disaster management, security deployment plan, move management, monsoon preparedness, Access Control and CCTV installations, Parking Management and other standard operating procedures for equipments.

Developers now are ensuring optimum maintenance of the property from the inception of the project which plays a significant role in easing maintenance of the property.