India's Real Estate Sector: A Bright Future for Employment and Career Opportunities
Industry leaders at the seminar 'Careers in The Real Estate' organized by NAREDCO Maharashtra during HOMETHON Property Expo 2024 in Mumbai highlight the sector's potential as a major employment hub.
Real EstateEmploymentCareer OpportunitiesNaredco MaharashtraProperty ExpoReal Estate MumbaiOct 07, 2024
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.
Frequently Asked Questions
What is the current employment status of the Indian real estate sector?
The Indian real estate sector is the second-largest employer after agriculture, with a Compound Annual Growth Rate (CAGR) of 18.7%, offering substantial employment opportunities.
What are the key roles and verticals in the real estate industry?
Key roles include developers, contractors, consultants like architects and engineers, investors, and data scientists. Verticals such as finance, investment banking, private equity, and Real Estate Investment Trusts (REITs) are also crucial.
How is technology impacting the real estate sector?
Technology, including big data, 3D modeling, and artificial intelligence, is revolutionizing the sector by creating new opportunities and improving efficiency in various aspects of real estate development.
What is the role of specialization in a real estate career?
Specialization is important for a successful career in real estate. It helps professionals develop the specific skills needed to excel in their chosen roles and stay ahead in a competitive market.
How can young professionals benefit from joining the real estate sector?
Young professionals can benefit from the sector's growth and numerous career opportunities, high job assurance, and long-term career possibilities, especially in emerging fields like Prop Tech and data sciences.
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