India’s Real Estate Industry Set To Become The Next Employment Generation Hub: NAREDCO Maharashtra

Mumbai, October 7, 2024: The Indian real estate sector is the second largest employer after the agriculture sector and the phenomenal growth with an 18.7% CAGR of this sector poses massive employment opportunities for the young aspiring minds to make careers in the real estate and allied industry. It is soon set to become the largest employment generating sector and a hub for young talent, revealed the industry leaders from the Seminar ‘Careers in The Real Estate’ organised by NAREDCO Maharashtra on the second day of HOMETHON Property Expo 2024 at Jio World Convention Centre at BKC in Mumbai.

“The Indian real estate industry is witnessing a boom in terms of value and volume with a well-established value chain of developers in residential and commercial real estate, contractors, consultants such as architects and engineers, investors and so on. Further, this ‘mother industry’ is boosting other ancillary sectors and also, new-age Prop Tech startups are also booming with over Rs 40,000 crore invested in them, the real estate sector is poised to create multiple career opportunities, said Mr Vikas Jain, President – Elect, NAREDCO Maharashtra Next-Gen and CEO of Labdhi Lifestyle Limitedwhile presenting the roadmap of ‘Careers in Real Estate’.

Mr. Rajesh Doshi, Secretary, NAREDCO Maharashtra, a Silicon Valley techie – turned – real estate developer and Managing Director of Acme Housinghighlighted the immense potential for professionals from diverse backgrounds to excel in real estate.”This sector isn’t limited to engineers or architects,”he said.”Real estate is for smart, driven individuals who can turn possibilities into opportunities. With the integration of tech, big data, and 3D modeling, 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.”

While sharing insights into various streams where aspiring students and incumbents can make careers,Mr Vaibhav Agarwal expert in financial services & real estateexplained that verticals like finance was the backbone of the industry and one could seek opportunities in investment banking, private equity, REITs besides pursuing finance functions in the real estate development companies. He also pointed out that the sector did not have enough skilled manpower and job assurance would always be high for them with long career possibilities.

Mr Kamlesh Thakur, Vice President, NAREDCO Maharashtra and Co-founder & Director, Srishti Groupemphasized on the fact that a growing country like India needed better skylines, which would be possible with growth of the real estate industry and with professionals joining the sector. He also pointed out that the real estate sector poses many self – career building and employment opportunities with the advent of avenues thrown open by artificial intelligence, data sciences, etc.

Mr. Hitesh Bhagtani,Treasurer, NAREDCO Maharashtrawho is also a third-generation real estate developer and Director of AP Realty,called the new breed of young professionals to join the industry with unique delivery capabilities

Dr. Vaishali Rajput,Director, Smt. Durgadevi Sharma Charitable Trust Skill Development Centrewent on to mention that in addition to a degree, a specialization is important to make a career. The term unemployment is wrong, it’s just that everyone does not have the requisite skill sets to get employed in a particular job position.

The Seminar was attended by students from Niranjan Hiranandani School of Real Estate, Chandrabhan Sharma College of Arts, Science & Commerce and other institutes were present on the occasion.

In addition, a second seminar was conducted on ‘Marketing Innovations in Real Estate’ which saw marketing professionals share their thoughts on how digitalization and Artificial Intelligence (AI) have altered the game plan of these professionals in marketing their products to the end customers.

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