Real Estate Mumbai
India's Real Estate Sector: A Bright Future for Employment and Career Opportunities
By GeoSquare News Desk · Published 2024-10-07
Mumbai, October 7, 2024 The Indian real estate sector is rapidly growing and is poised to become one of the largest employers in the country. Currently, it stands as the second-largest employer after agriculture, with a Compound Annual Growth Rate (CAGR) of 18.7%. This growth offers substantial employment opportunities for young professionals, making the sector a promising hub for career development, as revealed by industry leaders at the seminar 'Careers in The Real Estate' organized by NAREDCO Maharashtra during the second day of HOMETHON Property Expo 2024 at Jio World Convention Centre in BKC, Mumbai.
The Indian real estate industry is experiencing a significant boom in both value and volume. It boasts a well-established value chain that includes developers in residential and commercial real estate, contractors, consultants like architects and engineers, and investors. Mr. Vikas Jain, President-Elect of NAREDCO Maharashtra Next-Gen and CEO of Labdhi Lifestyle Limited, highlighted the multifaceted nature of the industry. “The real estate sector, often referred to as the 'mother industry,' is not only driving growth but also boosting other ancillary sectors. Additionally, the rise of Prop Tech startups, with investments exceeding Rs 40,000 crore, is creating numerous career opportunities,” he said while presenting the roadmap of 'Careers in Real Estate'.
Mr. Rajesh Doshi, Secretary of NAREDCO Maharashtra and a Silicon Valley techie-turned-real estate developer, Managing Director of Acme Housing, emphasized the diverse opportunities within the sector. “Real estate is not limited to engineers or architects. It requires smart, driven individuals who can transform possibilities into opportunities. The integration of technology, big data, and 3D modeling has created a high demand for skilled professionals, including data scientists who can forecast industry trends and dynamics. We need professionals who bring core knowledge, uphold honesty, and transparency. Good business practices are essential for sustainable growth, and we are committed to providing equal opportunities for women professionals and entrepreneurs,” he added.
Mr. Vaibhav Agarwal, an expert in financial services and real estate, discussed the various verticals where aspiring students and professionals can build careers. “Finance is the backbone of the real estate industry. Opportunities in investment banking, private equity, Real Estate Investment Trusts (REITs), and other finance functions within real estate development companies are abundant. The sector currently lacks skilled manpower, ensuring high job assurance and long-term career possibilities,” he explained.
Mr. Kamlesh Thakur, Vice President of NAREDCO Maharashtra and Co-founder & Director of Srishti Group, pointed out the sector's role in shaping India's urban landscape. “As India grows, we need better skylines, which can be achieved through the growth of the real estate industry and the influx of professionals. The sector offers many self-career building and employment opportunities, especially with the rise of artificial intelligence and data sciences,” he said.
Mr. Hitesh Bhagtani, Treasurer of NAREDCO Maharashtra and a third-generation real estate developer, called on young professionals to join the industry with unique delivery capabilities. “The real estate sector is evolving, and we need fresh talent to drive innovation and growth,” he stated.
Dr. Vaishali Rajput, Director of the Smt. Durgadevi Sharma Charitable Trust Skill Development Centre, emphasized the importance of specialization alongside a degree. “The term unemployment is a misnomer. It’s more about a mismatch of skills. Specialization is crucial for making a successful career in the real estate sector,” she noted.
The seminar was attended by students from the Niranjan Hiranandani School of Real Estate, Chandrabhan Sharma College of Arts, Science & Commerce, and other educational institutions, underscoring the sector's growing appeal among young professionals.