Career in professional courses: Real Estate Management - We bring you expert insights on Career in Real Estate Management which is a booming sector with unlimited potential.
Earlier, making a career in real estate sector meant all about marketing properties. It’s not the case anymore. “I think the ‘Market Analysis’ subject taught to us at Amity University’s RICS School of Built Environment helped me a lot in understanding the real estate industry, its techniques, terminology and functioning,” says Ashita Jain, who completed her MBA in Real Estate and Urban Infrastructure in 2013-15 and now works with GWS Transactions.
The sector now offers one of the widest career choices one can think of. Real estate; construction; infrastructure; investments and asset management are some of the major components of the industry. Praveen Jain, President, National Real Estate Development Council (NAREDCO) informs that this sector offers career for engineers, architects, managers and marketing professionals, etc.
About the course
“This MBA programme has been designed keeping in mind industry requirements and global standards. It comprises a healthy mix of theory and industry interaction and has been designed to ensure that students work and learn in an environment that is similar to those that you will encounter as practicing professionals,” says Apurva Muthalia, CEO, Aditya Birla Real Estate Fund - Birla Sunlife AMC.
You learn the fundamental concepts and principles across different aspects ranging from urban design and planning to real estate laws and regulations, from development of projects to project appraisals; from investment and finance decisions to sustainability related aspects; from corporate real estate management to facilities management. “The practical case study orientation has the potential to create not just practitioners, but the real estate business leaders of tomorrow,” says Sanjeev Dasgupta, CEO, Ascendas Property Fund Trustee Pte Ltd.
Programmes BBA and MBA in Real Estate & Urban Infrastructure; Construction Project Management; Project Engineering and Management; Construction Economics & QS; Infrastructure Finance, Development & Management
Eligibility For UG 10+2 grade with minimum 60% marks. Preference for students with physics, chemistry and mathematics background. Graduates in any field, with a minimum 50% marks can apply for PG
Top institutes National Institute of Construction Management and Research, Pune; RICS School of Built Environment Amity University, Noida; Ansal University, Gurgaon; Teri University, Delhi; CEPT University
Top Recruiters DLF Limited; Unitech; Tata Housing; Ansal API; Raheja Universal; Larsen & Toubro Ltd.; Punj Lloyd Group; Shapoorji Pallonji & Co; Jaiprakash Associates Ltd; GMR
Dr Mona N. Shah, Dean, School of Projects, Real Estate, Infrastructure Management, National Institute of Construction Management and Research, explains that the Real Estate Urban Infrastructure Management programme has a curriculum design that covers real estate sector and broadly falls under the streams such as Investment and Markets; Construction and Development. Prof. K T Ravidran, Dean Emeritus, RICS School of Built Environment says the programmes in RICS-SBE are developed after extensive surveys and gap analysis in employment in the construction sector.
Dr Mona N. Shah
Students who aspire for careers in real estate must most certainly make it a point to know more than less. They must cultivate a penchant for pursuing analytical and technical skills. They must be good communicators too
This sector has a plethora of opportunities for students with the right attitude. If they work hard and are able to have a good conceptual understanding combined with critical thinking, there is no stopping them from being successful
Global MD, Emerging Business,
We are at a turning point where we require more qualified professionals to carry out the task of building the new India, new smart cities and housing for all. The Indian construction industry is currently the 9th largest market in the world and will become the 3rd largest in the world by 2020
Managing Director, Raheja Universal
We believe shortage of appropriate talent impacts the delivery of projects. It has become challenging to source fit professionals with background in real estate, especially in the areas of project management, costing and budgeting and other disciplines
For undergraduate courses in this domain students should have passed 10+2 grade with minimum 60 percent marks and preference will be given to students who have physics, chemistry and mathematics background. For postgraduate studies candidates should be graduates in any field, with minimum 50% marks. Selection is based on personal interview or independent selection criteria of the institute.
Kashi Nath Shukla, CMD of Tashee Group says the government’s move to permit FDI of up to 100% under the automatic route in real estate projects is a big boost for the sector. This will be for accommodation, townships, profit-making and industrial construction. Pranav Ansal, Vice Chairman, Ansal API terms the Indian real estate sector as one of the most globally recognized sectors. The share of real estate sector in India’s GDP is expected to rise from 6.8% in 2013 to 13% by 2028. In absolute terms the size of the sector is expected to increase seven times from USD 121 Billion in 2013 to USD 853 Billion in 2028. In India it is the second largest employer after agriculture and is slated to grow at 30 percent over the next decade.
Need for dedicated professionals
“This industry requires around 4 million people per year over the next seven years. It makes perfect sense to specialize in this sector,” says Neeraj Bansal, Partner & Head, Real Estate & Construction, KPMG India. According to the National Skill Development Corporation Report (2012), by the year 2022, India will need manpower in real estate to the tune of 2.49 crores, with 3% (7.5 lakhs) technically qualified management personnel. “We are at a turning point where we require more qualified professionals to carry out the task of building the new India, new smart cities and housing for all. The Indian construction industry is currently the 9th largest market in the world and will become the 3rd largest in the world by 2020. Addressing the skills challenge and reducing massive demand supply gap (82-86%) of skilled professionals is fundamental for the industry to be able to deliver projects of highest quality, on time and on cost,” says Sachin Sandhir, Global MD, Emerging Business, RICS.
“For banking and financial sector, it is critical that the people we employ have a strong understanding of fundamental principles of real estate investment, valuation and finance. There is a vacuum of such knowledgeable class of prospective employees in the industry; a specialized MBA program in real estate finance is a worthwhile step to fill in the void,” says Sanjaya Gupta, MD, PNB Housing Finance Ltd. According to Dr Shah graduates find profiles in functional disciplines like business development, project management, valuation, project appraisal, advisory, contracts, client servicing, procurement, research and strategy. Companies operating in the domains of development, contracting, technical and managerial consulting, housing finance companies, building materials equipment and technology companies find the students appropriate for recruitment.
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