Lack of skilled talent to take up crucial jobs such as financial modelling and project lifecycle management, construction standards that are below global benchmarks, climate risks, and challenges to enforcement of contracts are the red herrings that can hold back India’s real estate sector, according to the Royal Institute of Chartered Surveyors (RICS).
In comparison to global markets like the UK, China, and Germany, India really hasn’t built the professional skills needed by this sector. Despite its incredible scale of population, India is a long way behind in capability and manpower &dash whether it is in construction management, cost consultancy, or real estate finance and investments.
The biggest change needed is a greater focus on workers’ safety. In the UK, you have something known as Construction Design and Management Regulations, which govern construction standards. In India, the safety and security of construction workers generally tends to get compromised. Most developed markets have a well-established regulatory system with laws and statutes, which helps construction workers remain safe even as projects progress. We don’t see that in India. The Pradhan Mantri Kaushal Vikas Yojana envisions 15 million construction operators by 2022. The reality is that we only have 100,000 such operators at present
RICS SBE is an industry-led institution aims at providing good education and tremendous placement opportunities to the students. The placement team grooms its students and help them achieve confidence. The institution provides guest lectures from the industry experts which helps in enhancing students’ knowledge.
The school has exchange programs with some of the leading universities around the world, such as the University of Salford, UK. It is a brilliant opportunity for individuals considering international exposure as they also get to be a part of the Asian Cities Program, wherein they get the opportunity to work with some of the top universal firms across several cities in Asia.
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