Tech and Finance Fuel Career Opportunities in India's Real Estate Sector

Industry experts emphasized the potential for growth and career prospects during the seminar 'Careers in The Real Estate,' hosted by NAREDCO Maharashtra at HOMETHON Property Expo 2024 in Mumbai.

Real EstateCareer OpportunitiesNaredco MaharashtraProptechSustainable GrowthReal Estate MaharashtraOct 09, 2024

Tech and Finance Fuel Career Opportunities in India's Real Estate Sector

Real Estate Maharashtra:The Indian real estate sector, the second largest employer after agriculture, is witnessing a phenomenal growth rate of 18.7% CAGR. This surge presents a wealth of employment opportunities for young professionals and those interested in real estate and related fields. The seminar 'Careers in The Real Estate,' organized by NAREDCO Maharashtra, took place on the second day of the HOMETHON Property Expo 2024 at the Jio World Convention Centre in BKC, Mumbai, and highlighted this potential.

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 booming in both value and volume. Supported by a well-established value chain of residential and commercial developers, contractors, consultants, and investors, the industry is 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 various backgrounds in real estate. He stated, 'Real estate is for smart, driven individuals who can turn possibilities into opportunities. With the integration of tech, big data, and 3D modelling, there is a rising demand for skilled professionals like data scientists to forecast industry trends and dynamics. We need professionals who not only bring core knowledge but also uphold honesty and transparency in every process. Adopting good business practices is vital to ensure 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. He noted that finance serves as the backbone of the industry, with opportunities in investment banking, private equity, and 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, emphasizing their unique delivery capabilities.

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 misleading; rather, 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 experiencing a Compound Annual Growth Rate (CAGR) of 18.7%.

What is the significance of PropTech in the real estate industry?

PropTech, or Property Technology, is significant as it leverages technology to improve and streamline real estate processes, attracting over ₹40,000 crore in investments and creating numerous career opportunities.

What are the key career streams in the real estate finance sector?

Key career streams in the real estate finance sector include investment banking, private equity, and REITs, as well as finance roles in real estate development companies.

How does technology impact the real estate industry?

Technology, particularly big data, 3D modelling, and artificial intelligence, plays a crucial role in forecasting industry trends, improving marketing strategies, and creating new career opportunities.

What is NAREDCO Maharashtra's role in promoting real estate careers?

NAREDCO Maharashtra, through seminars and events like 'Careers in The Real Estate,' highlights the potential of the real estate sector and promotes career opportunities for young professionals and those from various backgrounds.