India’s Real Estate Boom to Fuel Massive Employment Growth: NAREDCO Maharashtra

Mumbai / October 5, 2024: The Indian real estate sector is the second-largest employer after the agriculture sector. With an 18.7% CAGR, this sector offers massive employment opportunities for the young aspiring minds. It is soon set to become the largest employment generating sector, and a hub for young talent, industry leaders said at a 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, a statement from NAREDCO Maharashtra said.

“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 Vikas Jain, President – Elect, NAREDCO Maharashtra Next-Gen and CEO of Labdhi Lifestyle Limited while presenting the roadmap of Careers in Real Estate.

Rajesh Doshi, Secretary, NAREDCO Maharashtra, a Silicon Valley techie – turned – real estate developer and Managing Director of Acme Housing, highlighted 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, Vaibhav Agarwal, an expert in financial services and real estate, explained that verticals like finance was the backbone of the industry. 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. 

Kamlesh Thakur, Vice President, NAREDCO Maharashtra and Co-founder & Director, Srishti Group emphasized 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 offers many career-building and employment opportunities with artificial intelligence, data sciences, etc, opening new avenues. 

Hitesh Bhagtani, Treasurer, NAREDCO Maharashtra who is a third-generation real estate developer and Director of AP Realty, urged 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 Centre, went 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.

Another seminar on “Marketing Innovations in Real Estate” on the second day of the event 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.