Why real estate management is the next big career
The Indian real estate sector is being driven by fast-growing urbanisation, increasing foreign capital, and the need for smart cities. Formerly a broker- and developer-led sector, it has transformed into an organised, multi-professional sector, offering challenging careers to the next generation. In India, the sector is expected to achieve a market size of $1 trillion by 2030, according to a joint report by NAREDCO and Knight Frank. Real estate has four significant segments: residential, commercial, retail, and industrial. The Real Estate Regulation and Development Act (RERA) has brought more transparency and credibility. In addition, government programmes such as 'Housing for All', 'Smart Cities Mission', and 'Pradhan Mantri Awas Yojana (PMAY)' have boosted real-estate development across the nation, which also means more demand for professionalism in project management, legal environments, sales, and asset management.
Job prospects
Among the various options in the private and government sectors are:
Real estate analyst: Analyses properties, markets, and investment projections.
Analyses properties, markets, and investment projections. Property/ facility manager: Manages day-to-day operations of commercial or residential properties.
Manages day-to-day operations of commercial or residential properties. Leasing manager: Manages rental leases management, interaction with tenants, and occupancy scheduling.
Manages rental leases management, interaction with tenants, and occupancy scheduling. Project manager: Schedules budgeting, and manages real estate projects.
Schedules budgeting, and manages real estate projects. Urban planner: Plans and coordinates with government agencies and zoning regulation control.
Plans and coordinates with government agencies and zoning regulation control. Marketing manager: Plans and directs sales campaigns, internet marketing, and brand management.
Plans and directs sales campaigns, internet marketing, and brand management. Valuation specialist: Determines values of property and land for taxation, legal, and investment purposes.
Determines values of property and land for taxation, legal, and investment purposes. Asset and investment manager: Administering portfolios of high-net-worth individual (HNI) or investment company realty.
Opportunities are available among developers, real estate consultancies, banks, NBFCs, facility management organisations, and investment firms such as JLL, CBRE, Cushman and Wakefield, Godrej Properties, DLF, HDFC Realty, Knight Frank, and Anarock.
Education
Formal education and professional certification are significant as they equip learners with knowledge of property law, valuation, urban planning, construction management, finance, and marketing. Some leading institutions in this area are:
RICS School of Built Environment, Amity University (Noida and Mumbai): Offers MBA courses in Urban Infrastructure and Real Estate.
Offers MBA courses in Urban Infrastructure and Real Estate. National Institute of Construction Management and Research (NICMAR), Pune: Offers PG courses in Advanced Construction Management and Urban Infrastructure and Real Estate Management.
Offers PG courses in Advanced Construction Management and Urban Infrastructure and Real Estate Management. Institute of Real Estate and Finance (IREF), Pune: Offers diploma and PG Diploma in Finance and Real Estate Management.
Offers diploma and PG Diploma in Finance and Real Estate Management. IIM-Ahmedabad: Provides executive education courses in real estate and urban infrastructure.
Provides executive education courses in real estate and urban infrastructure. Symbiosis School of Banking and Finance (SSBF), Pune: Has MBA courses with specialisation in real estate finance.
Has MBA courses with specialisation in real estate finance. MIT-World Peace University, Pune: Offers BBA and MBA in Real Estate Management.
With the growth of technology integration (PropTech), green building planning, affordable housing developments, and smart city development, the real estate sector has become multidisciplinary and incorporates sustainability consultants, data analytics-backed asset managers, or real estate services providers. Internationally recognised certificates such as MRICS or CCIm will allow Indian professionals to work in West Asia, Southeast Asia and the U.K.
With a professional degree, industry certification, and effective networking, aspirants can position themselves to contribute towards shaping the future of our cities and towns.
The writer is co-founder at BOP.in
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