Exploring New Career Pathways in India's Thriving Real Estate Industry
With over 40,000 crore in investments and a 18.7% CAGR, the real estate sector in India is poised to create numerous career opportunities for young professionals. Industry leaders at the HOMETHON Property Expo 2024 highlight the integration of tech and fi
Real EstateCareer OpportunitiesNaredco MaharashtraProptechFinanceReal Estate MaharashtraOct 10, 2024
NAREDCO Maharashtra, a prominent association in the real estate sector, brings together leading developers, contractors, and consultants to promote the growth and sustainability of the industry. Mr. Vikas Jain, President-Elect of NAREDCO Maharashtra Next-Gen and CEO of Labdhi Lifestyle Limited, emphasized that the Indian real estate industry is currently experiencing a boom in both value and volume. Supported by a well-established value chain involving residential and commercial developers, contractors, and consultants, the industry is not only thriving but also benefiting ancillary sectors. New-age PropTech startups have attracted over ₹40,000 crore in investments, further positioning real estate to create multiple career opportunities.
Mr. Rajesh Doshi, Secretary of NAREDCO Maharashtra and Managing Director of Acme Housing, pointed out the immense potential for professionals from diverse backgrounds in real estate. He stated, 'Real estate is for smart, driven individuals who can turn possibilities into opportunities. With the integration of technology, big data, and 3D modelling, there is a growing demand for skilled professionals like data scientists to forecast industry trends and dynamics. We need professionals who bring core knowledge and uphold honesty and transparency in every process. Adopting good business practices is vital for sustainable growth, and this includes equal opportunities for women professionals and entrepreneurs across the sector.'
Mr. Vaibhav Agarwal, an expert in financial services and real estate, elaborated on the various career streams available in the industry. He noted that finance serves as the backbone of real estate, offering opportunities in investment banking, private equity, and Real Estate Investment Trusts (REITs), as well as finance roles in real estate development companies. He emphasized that the sector lacks skilled manpower, ensuring high job assurance and long-term career possibilities.
Mr. Kamlesh Thakur, Vice President of NAREDCO Maharashtra and Co-founder & Director of Srishti Group, highlighted the necessity for improved skylines in a growing country like India. This can be achieved through the growth of the real estate industry and the involvement of skilled professionals. He also pointed out that advancements in artificial intelligence and data sciences open up numerous self-career building and employment opportunities.
Mr. Hitesh Bhagtani, Treasurer of NAREDCO Maharashtra and a third-generation real estate developer, called on the new generation of professionals to join the industry. He emphasized their unique delivery capabilities and the dynamic nature of the sector.
Dr. Vaishali Rajput, Director of the Smt. Durgadevi Sharma Charitable Trust Skill Development Centre, added that specialisation is crucial for career success in addition to a degree. She noted that the term 'unemployment' is often misleading; it reflects a mismatch between available skills and job requirements.
The seminar attracted students from the Niranjan Hiranandani School of Real Estate, Chandrabhan Sharma College of Arts, Science & Commerce, and other institutions. Additionally, a second seminar on 'Marketing Innovations in Real Estate' featured marketing professionals discussing how digitalization and Artificial Intelligence (AI) have transformed marketing strategies for reaching end customers.
In conclusion, the seminar underscored the immense potential of the real estate sector in India, not only as a career path but also as a driver of economic growth. With advancements in technology and a commitment to sustainable practices, the industry is well-positioned to attract talent and foster innovation. Aspiring professionals are encouraged to explore the diverse opportunities available in this dynamic field, shaping the future of urban development.
Frequently Asked Questions
What is the current growth rate of the Indian real estate sector?
The Indian real estate sector is currently experiencing an 18.7% Compound Annual Growth Rate (CAGR), making it one of the fastest-growing sectors in the country.
What are the key sectors within the real estate industry?
The key sectors within the real estate industry include residential and commercial development, construction, consultancy (architects and engineers), and investment. Additionally, ancillary sectors like PropTech are also gaining prominence.
Why are data scientists in high demand in the real estate sector?
Data scientists are in high demand in the real estate sector because they can forecast industry trends and dynamics, which is crucial for strategic decision-making and sustainable growth.
What are some financial career opportunities in the real estate sector?
Financial career opportunities in the real estate sector include roles in investment banking, private equity, Real Estate Investment Trusts (REITs), and finance roles within real estate development companies.
How is technology impacting the real estate sector in India?
Technology, particularly PropTech, is transforming the real estate sector by improving efficiency, enhancing customer experiences through digitalization and AI, and opening up new career opportunities in areas like data science and marketing.
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