Career in Real Estate
Career in Real Estate
In the fast growing technological world of today, several industries are opening avenues for talented youngsters in various sectors. On one hand, there are ample Job Opportunities in Information Technology and its enabled services while on the other there are avenues opened in pharmaceutical and retail.
Among all these, a career in Real Estate is appearing as an upcoming hotbed for a growing number of job – seekers. Each of the service industry requires space to set up their offices or shops to sell the goods and services.
Thus, the Real Estate industry is booming across the country with the increasing need for offices, apartments, malls and multiplexes. The IT and ITes sector has demand for about 40 million square feet annually. The high saving propensity in India has lent a helping hand to Real Estate industry. The availability of loans has also helped the Real Estate industry to flourish. All this has resulted in the sudden rise in the demand for residential, recreational and retail spaces.
Real Estate industry has become popular in the stock markets also. The industry has taken a big leap to capture a market capitalisation of Rs. 2,00,000 crore in 2007. An investment bank, JP Morgan’s latest sectoral report speculates the Real Estate industry to grow from $50 billion in 2007 – 2008 to $90 billion by 2011 – 2012, an annual growth of 13 percent. The demand for real estate is on the rise owing to new opportunities improving demographics, growth of the service industry, a healthy macro environment and the notification of city development plans.
The biggest challenge in front of Real Estate industry is the availability of skilled human resources for executing projects. The industry is already one of the largest employers in the combined organised and unorganised job market. It is estimated that the industry has the direct employment potential of more than 5,00,000 people within three Years.
The most sought after people in Real Estate industry are the civil engineers who execute projects, deal in design and onsite execution. Civil engineers account for over half of the organised workforce in the industry. Structural Engineering, a field of specialisation in civil engineering is the science and art of designing with elegance and economy, a form capable of withstanding the forces of nature and performing its functions with safety, durability and Economy.
The difference between the existing demand and supply of structural engineers is a matter of concern in the progress of infrastructure development. The experts have also estimated that the growth in IT and IT – enabled services would translate into commercial real estate demand of another 400 – 700 million square feet. Manufacturing, banking and insurance will also add to the demand of total commercial real estate at 450 – 530 million square feet by 2011.
The major players in India’s real estate industry include DLF Group which is led by Mr. K.P. Singh and is India’s largest real estate player and has been a trendsetter in the industry. The company was established in 1946 and took the lead in the development of 21 urban colonies in and around Delhi.
The company is spreading its wings in the arena of real estate across the country. Unitech Group, a Delhi – based group is the second largest realty player in India. The group is involved in almost all sections of industry and has a portfolio that includes heavy construction, leisure and entertainment projects, hospitality and residential property developments. The group has also come up as the leading amusement park developer. Like other companies in the industry, Unitech has also made its entry in special economic zones bandwagon.
Another major company, Mahindra Gesco has made its presence felt in the Real Estate industry. The company deals in designing, developing, building, and marketing of residential and commercial complexes. It mainly operates in two sections – operating commercial complexes and project management and development. Apart from constructing houses, offices and malls, India’s growth story also revolves around roads, power plants, pipelines, bridges, subways, parks, water ducts and sewage systems.
As per the estimates made by the government, the infrastructure of India requires a $282 – 370 billion overhaul to maintain the country’s domestic product growth rate at 8.5 percent. The government has allocated $82 billion and $152 billion respectively for infrastructure in last two Five – Year Plans. The key players in real estate construction include Larsen & Toubro, which is one of the largest companies in India.
It is technology – driven engineering and construction organisation. The company’s overseas earnings have grown to 18 percent of the total revenue. L & T has incorporated its strength in process technology, basic and detailed Engineering, Equipment Fabrication, Procurement, Project Management, Erection, Construction and Commissioning to offer single – window solution in this section.
Another major firm, Punj Lloyd Ltd. ( PLL ) is an EPC contractor focussed on the oil and gas sector and infrastructure. The organisation started as a pipeline – laying company and has taken itself to the standard of providing full EPC services. The clientele list of PLL includes ONGC – Bechtel, British Petroleum, Cairn, Petrofac, Total Fina, Elf, etc.
Real Estate Courses in India :
An online course, Principles and Practices of Real Estate ( PPRE ) is delivered in modules. Each module is to be finished within 30 days from the date and time of receipt of a passwork. After the completion of each module, a care study / test is conducted and a minimum passing grade of 75 percent is required to proceed to the next module. The test is repeated if the candidate fails to complete or pass the case study / test within 30 day limit.
1346 approved engineering colleges provide facilities for degree level technicians. Out of these, 340 colleges offer Degree Courses in Civil Engineering / Structural Engineering. 4.11 lakh is the admission capacity for these courses whereas there are only 18,700 seats for admission in Civil / Structural Engineering. Graduates with 4 – 5 Years of experience make them capable enough to design the critically important structure.
Real Estate Aptitude :
To be in Real Estate, one needs to be goal oriented, persevering, self – motivated, ambitious and people – oriented. One should have mastery over the modern machinery and techniques which can boost efficiency in construction. The knowledge of environment – friendly constructives adds a positive attribute to a Real Estate professional. The Computer – aided Design can really keep the pace going for global opportunities. The project and supply chain management should be undertaken factfully in managing infrastructure projects for the engineers, an added knowledge of financial aspects of this capital – intensive sector is very beneficial in terms of career growth.
Real Estate Prospects :
The prospects in Real Estate industry are promising ones. The professionals in the Real Estate industry can be classified into the following segments based on the skills and experience :
- Project and Construction Management
- Architectural and Engineering Planning
- Government Liasion
- Land Purchase and Business Development Sales.
Some more avenues are opening in Accounts and Finance, Human Resources and Administration, Marketing, Legal and General Management. In all these, the experience is more function – specific rather than industry – specific. The various other job options in this industry comprise of Project Supervisors, Inventory Managers, Building Maintenance experts and Civil Engineers.
Structural Engineers are supposed to design the Residential, Commercial, Educational and Recreational Buildings besides Bridges, Stadiums, Ports, Dams and Aqueduct which can withstand cyclones, earthquakes, seawaves and thermal variation. The industry also provide jobs of property brokers, valuers, facility managers, interior designers and architects.
The Real Estate professionals can help people buy and sell homes while keeping in consideration the needs of the buyer. Employment opportunities are also available in private firms and government agencies which are concerned with developing, appraising, financing and merchandising residential, commercial and industrial estate.
Remuneration in Real Estate :
|Level||Work experience ( Years )||Annual Salary ( Lakhs )|
|General Manager / Assistant Vice President / Vice President||20 - 25||25 - 75|
|Functional Head||15 - 25||20 - 35|
|Assistant General Manager / Deputy General Manager||10 - 15||10 - 25|
|Manager / Senior Manager||5 - 10||5 - 12.5|
|Assistant Manager||3 - 5||3 - 7.5|
Real Estate Study Centres in India :
|Akruti Real Estate Institute, |
Akruti Trade Centre, Road No. 7,
Marol MIDC Andheri ( R ),
Mumbai - 400 093 ( Maharashtra ),
Phone No. : 022 - 67037400,
Website : www.akrutiknowledge.edu.in.
|Bengal Engineering College Shibpur, |
Howrah - 711 103,
Website : www.becollege.org.
|Centre for Environment Planning and Technology,
Kasturbhai Lalbhai Campus University Road,
Navrangpura Ahmedabad - 380 009,
Phone No. : 079 - 26302470 / 26302740,
Website : www.cept.ac.in.
|Guru Gobind Singh Indraprasth University, |
Delhi - 110 006,
Phone No. : O11 - 23900166, 011 - 23900167,
Website : www.ipu.ac.in.
|IIT Kharagpur, |
Kharagpur - 721 302,
Website : www.iitkgp.ac.in.
Roorkee - 247 667,
Phone No. : 01332 - 272349, 274860,
Website : >www.iitr.ac.in.
|India Institute of Real Estate, |
Orchad Suite 400,
Dr. Pai Marg, Nachiket Park, Baner,
Pune - 411 045 ( Maharashtra ),
Phone No. : 09323549850,
Website : www.iire.co.in.
|Institute of Town Planners, |
4A, Ring Road, I.P. Estate,
New Delhi - 110 002,
Phone No. :011 - 23702452,
Website : www.itpindia.org.
|Manipal Institute of Technology,
Manipal - 576 119 ( Udupi ),
Phone No. : 0820 - 2571060, 2571061.
|Maulana Azad National Institute of Technology, |
Bhopal - 462 007,
Phone No. : 755 - 2670416 / 2670417.
|School of Architecture, RV College, |
Belgaum - 590 008,
|School of Planning and Architecture,
4, Block B, lndraprastha Estate,
New Delhi - 110 002,
Phone No. : 91 - 11 - 23702382, 23702375 - 80,
Website : www.spa.ernet.in.
|University School of Design, |
Mysore - 570 006 ( Karnataka ),
Phone No. : 0821 - 241457, 2414514,
Fax : 0821 - 2414515.
|Yajnas Academy of Real Estate Management, |
203 - 204, Khanchand Tower,
H.No. 6 - 3 - 182 / 2b, 6 - 3 - 190 / 1,
Road No.1, Banjara Hills,
Hvderabad - 500 034 ( Andhra Pradesh ),
Phone No. : 040 - 66465050,
Website : www.yarem.in.
Career in Real Estate – Real Estate Courses in India – Real Estate Aptitude – Real Estate Prospects – Remuneration in Real Estate – Real Estate Study Centres in India
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