Real estate business

DLF, the country's biggest real estate developer, is restructuring its business verticals through a major human resource redeployment to boost efficiency and productivity. The move may lead to a further reduction in its workforce at several recession-hit businesses, which the company denied. The New Delhi-based firm plans to restructure verticals such as homes, offices, retail, special economic zones, hotels and infrastructure, according to sources. At present, all of these verticals have separate human resources, accounts and marketing departments. The DLF move to rationalize its workforce has come in spite of a decline in its employee strength in recent months. While the employee count as on March 31, 2008, was 3,700, it is now at little over 3,000.
Whether you are a moonlight or full-time entrepreneur, at some time real estate issues will become important to you. The success or failure of most retail businesses will hinge on the owner's selectivity and judgment in selecting the right location. An initial step in business is selecting where you will live and where your business will be located. You may have the opportunity to relocate to an area where you would really enjoy living and working. Every city has a planning department at City Hall. You will be dealing with this and other municipal departments and agencies that have discretionary authority to approve or disapprove your intended plans.
You can no longer rely on zoning codes to determine what the rules are in your desired location. Your intended location will often be subject to "precise plan" approval, an environmental impact assessment, and other regulatory issues. You may find yourself appearing before a review board that can often seem unreasonable in its decisions. Many cities have redevelopment agencies authorized to impose conditions even more stringent than those established by local codes.
One shopping center developer was so frustrated with the demands of city agencies that he finally threw up his hands and sold off his rights to the property. The new owner succeeded in developing the property. His secret, "I went into City Hall and told them that I would do anything they wanted me to do-----and did it.” Now, obviously there will be times when unreasonable conditions will make a location for your business unattractive. In such cases, you should unemotionally look for another location.