Tech and Finance Open New Career Pathways in India's Booming Real Estate Industry
The Indian real estate sector, now the second-largest employer after agriculture, is witnessing rapid growth with an 18.7% CAGR, presenting substantial employment opportunities for young, aspiring professionals in real estate and related fields.
Real EstateCareer OpportunitiesTechnologyFinanceProptechReal EstateOct 09, 2024
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 value and volume. This growth is supported by a well-established value chain of residential and commercial developers, contractors, and consultants like architects and engineers, as well as investors. Additionally, the 'mother industry' is benefiting ancillary sectors, and new-age PropTech startups have attracted over ₹40,000 crore in investments, 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, achievable 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 specialization 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 growth rate of 18.7% CAGR.
Where was the 'Careers in The Real Estate' seminar organized?
The 'Careers in The Real Estate' seminar was organized by NAREDCO Maharashtra at the Jio World Convention Centre in BKC, Mumbai, during the HOMETHON Property Expo 2024.
What are some of the key career opportunities in the real estate sector?
Some key career opportunities in the real estate sector include roles in investment banking, private equity, REITs, finance in real estate development companies, and data science for forecasting industry trends.
How is technology affecting the real estate industry?
Technology, particularly through PropTech startups, big data, and AI, is transforming the real estate industry by improving efficiency, forecasting trends, and enhancing marketing strategies.
Why is specialization important in the real estate sector?
Specialization is important in the real estate sector because it ensures that professionals have the specific skills required for the diverse and dynamic nature of the industry, which helps in career success and addresses the skills mismatch issue.
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