The unemployment rate in the country has dropped to 3.2% for the fiscal year 2022-23, according to the Economic Survey 2023-24. One of the contributing factors is the government’s initiative and commitment to fostering entrepreneurship in India. Through its sustained efforts via the Start-up India initiative, the number of registered start-ups has increased to 1,40,803 as of July 2024. The government has repeatedly been trying to ease the process of getting credit for entrepreneurs, pushing the young aspiring graduates to pursue business in real estate that generates their revenue and employment.
With infrastructure development at the centre of this employment situation, the real estate industry has seen rising opportunities. It is the second-largest employer in the country. Additionally, the Indian real estate market has the potential to grow to ₹65000 crore by 2040. The housing industry alone has been accounting for 5 to 6% of the country's GDP in the past few years. These numbers clearly indicate the real estate business's growth, which has supplied the much-needed infrastructure required for India's growth. These numbers, therefore, are a testimony of opportunities in the real estate industry for aspiring entrepreneurs.
This blog explores the basic idea of what is in store for entrepreneurs looking to start a business in real estate and also hints at the best real estate courses in India.
A real estate entrepreneur is someone who is not only involved in buying or selling properties but also identifies opportunities, learns risk management, and creates value within the real estate sector. They should have a strategic vision to navigate the complexities of residential or commercial properties, invest in real estate funds and futuristic real estate technologies. They should also be aware of the techniques and skills required for value creation, as well as the relevance of networking and relationship building.
Dedicated real estate courses in India can easily help aspiring entrepreneurs enter the real estate industry. This is because these courses build the foundational knowledge required to make informed decisions in the market. They also focus on skill development, especially in financial modelling, project management, and risk management. These courses also offer insights into the most relevant market trends, regulatory changes, and the analytical and economic factors that affect and impact the industry.
The highlight of choosing from the best real estate courses in India is that they provide access to a network of industry professionals, including instructors, peers, and alumni, who can help forge connections as valuable collaborators, mentors, and business partners in the future.
By offering comprehensive industry knowledge, advanced business and financial skills, networking opportunities, and practical experience, an MBA in Real Estate and Urban Infrastructure at RICS SBE, Amity University, prepares aspiring entrepreneurs to tackle challenges and seize opportunities in the dynamic world of real estate. This programme not only teaches the academic and research skills of the industry but also makes them business experts. For instance, choosing relevant electives such as “Entrepreneurship in the Built Environment Sector,” “Market Communications and CRM,” and “Digital Technologies and Social Media Marketing” can elevate aspiring entrepreneurs in the competitive market.
This initiative intends to work as a research tank for the Indian real estate sector, working closely with all the stakeholders. It is a one-of-a-kind initiative hosted by the Indian Institute of Management, Bangalore, jointly with CREDAI (Confederation of Real Estate Developer’s Association of India). So, if the students are interested in diving solely into research before starting a business in real estate, they can explore the nuances of this initiative.
This course at RICS SBE provides students with the relevant knowledge that opens up various career paths in the real estate industry. This comprehensive theoretical course offers insights and teaches the essential aspects of the real estate industry. The programme’s curriculum covers critical areas such as business development, real estate valuation and finance, analysis of development feasibility, and combining theoretical knowledge with practical insights.
Various real estate courses for entrepreneurs are available, but the best real estate courses in India should cover both the theoretical and business aspects of the real estate industry. This is important for entrepreneurs as they look forward to starting their own businesses in real estate.
Courses like a BBA or MBA in Real Estate and Urban Infrastructure, with its integrated and advanced curriculum, quantify the industry's understanding, help streamline ideas, and build upon the market's insights. They act like guided channels, as industry-expert professors give the best possible education and share their real-time experiences, which are extremely helpful for budding entrepreneurs.
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