It is no big secret that even though construction the second largest sector for India, the young ofessionals still prefer other sectors like IT, BFSI, FMCG etc. over real estate. Some of the reasons cited are its dynamic and cyclical nature, demanding work hours and not so glamourous or sophisticated work conditions as compared to many other industries.
What’s more, real estate being a niche segment requires specific skills and there is dearth of real estate courses and colleges in India. The reason being, real estate is not always considered an integral part of business or economics curricula.
But the real estate industry is growing rapidly with increasing technology intervention in all aspects of real estate and construction. Along with the rising corporatization of the sector, the scenario is changing as it has been able to raise its value proposition.
Industry experts shared that the current real estate sector offers professionals varied segments to work, from fields such as marketing, research & advisory, valuations, investment consulting to transactions & leasing, asset management, housing finance, among many others. The government's support for the real estate sector too has led to increased investment and employment opportunities.
CULTURAL TRANSFORMATIONS IN REAL ESTATE
The major changes within a business often begins with a redesign of the organizational structure where focus is on the workforce. This includes, employee development, team scaling, and alignment to the business strategy. As Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd rightly states that corporate culture is essential for motivating employees and fostering dedication across all sectors and in the ever-evolving and dynamic real estate industry, innovation and teamwork are crucial for maintaining competitive advantage. He gives example of his own people-centric strategy in his organization, “We at Signature Global prioritize creating a positive work environment that not only promotes collaboration but also helps in retaining top talent. As a value-driven organization, with a positive corporate culture embedded in our ethos, we adhere to all regulatory norms and standards, ensuring that our team feels valued, supported, and inspired to contribute their best.”
Kalyan Chakrabarti, CEO, Emaar India expresses similar views, “The rapid professionalization of real estate has opened new doors for diverse talent eager to lead and innovate. Emaar is focused on creating a workplace that balances opportunity with support, where our people feel valued and empowered to excel. We understand that a strong corporate culture is the foundation of exceptional results. By offering opportunities to learn, enrich and grow, we enable our teams to bring fresh ideas and proactive solutions to the table, fostering a culture of creativity and commitment.”
According to Sachin Bhandari, Executive Director and CEO, VTP Realty in the Indian real estate landscape, family-owned business traditionally has been the dominant model which has certain advantages, but also bring challenges. He added, “As an industry, we need to pivot towards a more process-oriented, professional culture that values transparency, accountability, and innovation. This is essential to attract top-tier talent who are looking for a structured and modern environment that will help them to grow professionally as well as personally and contribute towards the growth of the organization. The traditional family-centered businesses must trust the professionals to deliver with the correct processes, transparency, and the right controls in place. Only then can the Indian real estate sector set new bench- marks in quality and service, that too consistently. This change is not just about evolving with the times; it’s about establishing a legacy of excellence that defines the future of Indian real estate. At VTP Realty, we believe in empowering the teams for better delivery with an agile decision-making framework. VTP Realty continues to lead the way in creating a positive, empowering workplace culture, which has made VTP a second home for its performing employees. Hence, we continue to attract the best talents in the industry."
“The real estate sector’s growth means we’re looking for top talent who are inspired to grow alongside us and redefine what’s possible.” - KALYAN CHAKRABARTI
“Corporate culture is essential for motivating employees and fostering dedication in the ever-evolving and dynamic real estate industry."- PRADEEP AGGARWAL
“Family-owned businesses, a dominant model in Indian real estate has its advantages, but also limits agility & adoption of modern practices, required to scale up the business.” - SACHIN BHANDARI
