Property inspection is well established concept in mature real estate market like in U.S.A., Canada, Australia, Etc. But as per latest property inspection trends shows that emerging real estate market such as an India are slowly but steadily gathering traction. Around 95% flat or house sold in America option out for property inspection services. In India these numbers are less than 1% as on date. But property inspection trends show that property inspection coverage in India real estate in expanding on year on year basis.
Property Inspection Trends
We proudly say that PropCheckup (Formally known as Meazurement) has launched property inspection services in India. We have launched this service back in 2012. That time there is not a single company providing other than PropCheckup is providing a property inspection in India. As market expand and grow, there multiple companies has launch property inspection services in different cities of India. Today all tier 1 cities like Mumbai, Pune, Bangalore, Kolkata, Chennai, etc. and some tier 2 cities have availability of property inspection service from different services provider. In 2012 PropCheckup is the only single service provider in India. Now in 2021 there are over eight companies are providing property inspection services in India.
Online real estate portal like magicbricks.com has launched property inspection service on their portal. Also other online portal like’s housing.com, proptigar.com, etc. are advocating the inspection services on their portal.
Property Inspection Growth
We have seen double digit growth in number of inspection performed by PropCheckup in last several years. We are confidence that this double digit growth going to be continued for next several years. From 2012 to 2021, we have inspected over 200 real estate projects in different cities. With this growth, we can inspect over 500 real estate projects in the next few coming years. With this property inspection trends, we can surely be said that this industry can grow with two-digit growth.
Property Inspection Market Size
In one article, pillartopost.com mention that USA home inspection industry is worth $3 billion. Property inspection is a new service in India real estate market, hence it hard to provide exact market size of inspection service. But we can surely say that it’s going to become multi-billion dollar industry when penetration increase in coming years.
Property Inspection Regulations
In mature real estate market like U.S have license requirement from state agencies to do a property/home inspection in some states. In U.S there are multiply professional bodies like American Society Of Home Inspectors (ASHI), International Association Of Home Inspectors (InterNachi), etc. who are certifying the home inspector.
On 1 January 2018 Home Inspection Association Of India (HIA) launched in India to set up certification, operating and affiliation guidelines for all home inspection companies in India. Home Inspection Association India (HIA) and International Association Of Home Inspectors (InterNachi) join hand to promote and standardize property inspection service in India. International Association Of Home Inspectors (InterNachi) collaboration with Home Inspection Association India (HIA) will help Indian property inspection companies to become more competitive on global level. The latest property inspection trends show the increasing awareness about property inspection required government agencies’ support like RERA to regulate this service.
Property Inspection – New Employment Opportunity
Property inspection is a relatively new ideas in India, property inspection trends show demand for the service has been steadily increasing day by day. Property inspection as a service has a promising future, which means it is a lucrative field in which to build a successful career. The property inspection team has members from construction and electric field. Government of India Skill India programme can certify the Property inspector. That means property inspection service can provide employment to young and dynamic youth of India.