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Industry watch: Emerging job opportunities in real estate

Admin| Oct 13, 2016 - 10:08 AM India

Industry watch: Emerging job opportunities in real estate

Yojana Sharma, TimesJobs Bureau
Real estate sector impacts the economy and job sector indefinitely in any economic circumstances. The Indian property segment has been slowly heading for recovery after a dry spell of growth for the last 3-4 years.

The central government too is trying to infuse funds in the sector and encouraging big budget projects to ramp up the overall infrastructure in the country. Add to that the proposed policy changes like RERA Bill that can help bring transparency in the sector and encourage more investment here. There is a wave of positive sentiment too in the sector, hinting at the sector’s revival. Does all this spell any changes for related job sector?

TimesJobs spoke to Shubika Bilkha, Business Head, The Real Estate Management Institute to explore various career options available in real estate.

Why a career in real estate seems promising now:
Being a fresh graduate or an early stage professional trying to outline a long-term career path today is challenging. While graduates seem to be focused on careers in the IT sector, Finance, Marketing, among others, the real estate sector remains largely overlooked when determining a viable career path. The real estate sector which is slated to be a $180 billion opportunity by 2022, has a current skill shortfall of 4 million core professionals with the total skill requirement of the sector expected to be 75 million by 2022. To build out Prime Minister Narendra’s Modi’s development agenda, there is an urgent requirement to have skilled resources in the real estate and infrastructure segments.

The real estate sector has traditionally been viewed as a fragmented and unorganised sector with firms being largely owner driven. Today, with increased regulatory vigilance and the passing of RERA 2016, as well as with real estate companies acquiring scale, getting more professional in their approach and larger players/funds developing businesses in the space, there is a wonderful opportunity to build a lucrative career

What careers are available in real estate:
Careers in the real estate sector at the ‘Top of the Pyramid’ can be categorised into the following segments: Specialised professionals, Core professionals, Non-Core professionals and Services Professionals.

Specialised professionals include valuers, quantity surveyors, facility managers, property managers and sustainable development experts.

Core professionals include engineers, architects and planners.

Non-Core professionals include management/business administration/chartered accountants/marketing/sales/project managers/finance analysts, lawyers and electrical engineers.

Real Estate Services include services such as consulting, brokerage and other ancillary services. With the recently proposed regulatory amendments, the real estate brokerage sector is on the path to getting more organised and will over time operate in line with global benchmarks. This will create an organised entrepreneurial segment with licensed brokers and create a lucrative career opportunity within the sector for students, graduates as well as for women homemakers.

What skills are required to make a career in real estate:
The typical employers who recruit students across this segment include developers, brokerage firms, property management companies, real estate online portals and property consultants.

What broad salary bench marks exist in real estate sector:
Typically, the salary for fresh graduates after getting professional training in the sector per annum would range from Rs. 1.5 -4 lakhs plus incentives depending on the candidate and job profile.


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