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Leadership is instrumental in shaping organizational culture, and an inclusive workplace encourages innovation that ultimately breeds positive change. Thus, leadership at its core, is all about having a compelling vision. Effective real estate leaders don't merely follow trends; they set standards, and lead by example. In this regard, women leaders bring collaborative and inclusive leadership style as well as empathy and emotional intelligence.
However, as per Amrita V Chowdhury Co-Founder & CEO, GAIA, “Despite an increasing number of women CEOs globally, there's a sharp drop-off in their workforce participation, creating a smaller pipeline for leadership roles. Addressing this requires systemic support from governments, industries, families, and the women's own ambition and drive, as exemplified by even more striking disparities in industries like real estate.”
Binitha Dalal Founder & Managing Partner at Mt. K Kapital and Head of Fundraising, Rustomjee Group added, “Both individuals and organizations must create a sup- portive environment for women pro- fessionals to grow, ensuring a mutually beneficial situation. The notion of male-dominated industries spans various sectors from real estate to finance, presenting similar gender biases and challenges for women. It's important to confront these issues head-on and recognize that increased diversity in the C-suite is beneficial for organizations. Initiatives like leadership programs for experienced women can help create a balanced and sustainable management structure.”
Hina Kamra - Managing Director, Neo Wealth Management, said, “I've learned that adhering to core values, and ethics, and building professional networks leads to success regardless of the environment. Networking with diverse individuals offers freshperspectives and support in challenging times.”
Dr. Anar Mehta, Social Activist, Entrepreneur & Founder - Srishti Bharat Foundation agreed, “Women entrepreneurs in India face multiple challenges like societal biases, work-life balance struggles, safety concerns, and limited risk-taking opportunities. Despite these hurdles, they can succeed by connecting with fellow female entrepreneurs, seeking support from women investors, and staying true to their unique voices. From a government perspective also, there seems to be a lot of push towards bringing women at the forefront in every industry.”
Sharing her perspective Abha Singh, Advocate, Social Activist and Former Bureaucrat said, “Leaders must foster an environment where employees feel empowered to share their ideas, take risks and think creatively. This involves not only endorsing innovation but also actively participating in it. Despite challenges like a lack of facilities for women and working by candlelight during inspections, I initiated empowering changes such as hiring the first female postmen and installing solar panels. Witnessing widows gaining employment and securing compensation through legal battles drove me to continue making impactful changes both within the government and beyond.”
Elucidating on her initiatives towards female inclusion in traditionally male-dominated environments, Radha Ramanujan Group Chief Financial Officer -UDS Group said, “Starting my career in a male-dominated manufacturing environment was challenging, especially when facilities like washrooms weren't accommodating. Over time, as I advanced into leadership roles, I made it my mission to support other women by advocating for necessary facilities and ensuring their performance matched their male counterparts. For example, in our manufacturing setup, onboard women two guards meant, creating a separate washroom with a 40 lakhs budget. To justify the cos, we added women employees in other sections, thereby ensuring gender diversity in the workplace.”
Urmila Rajadhyaksha, Honorary President, Indian Society of Landscape Architects shared her initiative, Innovation often begins with a vision as a good leader. A leader possesses the ability to see the current state and can envision the future. “In my firm I have implemented policies to ensure everyone, from young girls to older women receive the necessary support and safe transportation. These practices have become an unspoken standard throughout our organization as I envisage a future where gender plays no role in performance or promotion.”
Shaifali Singh, Vice President, DivyaSree, added, “Real estate has evolved from a supplier-driven market to a consumer-driven one, becoming more balanced and ed- ucated. Indian real estate is set to mature and become more organized, with government regulations ensuring accountability. Embracing our individual identities and be- coming gender-neutral can impact how society treats us. Women must overcome internal struggles instead of focusing on external expectations. I believe progress will continue, and gender diversity may no longer be an urgent issue in the coming years.”
Fancy George CEO, Thomas Associates Workplace Design added another perspective,“Internationally, it's no longer just about two genders anymore. We are now considering binary and non-binary identities as well.
”Indeed, traditionally, real estate has been a male-dominated industry, especially in key management positions. Although various efforts have been made to develop a more inclusive environment, there is still a gap that needs filling. Thankfully, it’s a situation that is gaining increasing visibility. Organizations with inclusive cultures are twice as likely to meet or exceed financial targets and three times as likely to be high performing. And companies are six times more likely to be innovative
The decreasing gender gap proves that talent and capability are being prioritized in hiring processes. if we are talking about equality in workplace, we need to empower women right at the lowest levels to the highest level, mentoring our managers to be the next CEO and agile and eight times more likely to achieve better business outcomes, as per Deloitte research"
Industry Growth & Transformations
The real estate sector in India has undergone a sea change in the last decade. The introduction of several regulatory reforms aimed at increasing transparency and ac- countability, the notable among them being RERA and GST that have had a significant impact on the sector. The PMAY scheme and Smart Cities Mission too are piv- otal in bringing a mindset change among the government, policy makers and the private players. As India advances across all sectors, from real estate to the economy, it's exciting to recount the journey and envision the transformation in the present and the future.
Dr. Ananta S Raghuvanshi, Founder and President, NAREDCO Mahi briefed, “Let's first discuss the lows. Back in the 90s, unpredictability in real estate functioning was high, but today, the real estate industry has transformed with more regulatory mandates and better compliances within organizations. Personally, I've been fortunate in my career journey from DLF to major global roles over 32 years, witnessing and contributing to this incredible transformation.”
Yasha Saraf, Co-Founder, Aris-Uniterm, added, “My 18-year journey in real estate has seen a transformation from an era of carefree project launches and unregulated practices to a more disciplined industry focusing on product development, faster construction, and timely delivery.
Today, everyone's trying to innovate on two fronts: the customer-facing and the construction aspects. While technology can enhance prospecting and customer experience, it can't replace the need for physical visits to properties. In construction, major brands can afford technology for better and faster builds, but smaller developers struggle to keep pace due to financial constraints and localized challenges. Despite these hurdles, there's immense potential for improvement if the industry col- laborates effectively.”
Elaborating on the factors pro- pelling the expansion of commercial real estate market Shruti Agrawal, - Assistant Vice President, Tata Realty & Infrastructure Ltd. Stated, ‘India's office market remains resilient and buoyant, leading globally in outsourcing with a vast space of 880-900 million square feet. Bangalore, Chennai, and Pune are the top-performing cities, driven by IT and global capability centers alongside burgeoning start-ups and favorable government policies. The real estate sector has thrived with remarkable absorptions and investor yields, underscoring a robust growth story. Regarding REITs, there's immense potential in this industry as many properties are still not fully optimized.”
Sheetal Vanwari, Head - Marketing, Awfis added, “The industry often focuses too much on residential real estate, overlooking the booming commercial sector. The reverse migration to tier two cities post-Covid has created a mismatch in supply and demand for workspaces. In less than a decade, I've seen amazing expansion in various real estate categories, especially coworking My company just became the first co-working space in India to go public, which signifies the commercial real estate’s rapid growth and openness to new aspects. Larger players like us are more accountable due to pub- lic scrutiny, but best practices can come from any size of player. Lastly, marketing in real estate needs to be seen as creatively vital to attract fresh talent, as the industry's scope is now broader and more dynamic.”
Dr. Ananya Gandotra, SVP De- sign and Operations, Mogra Realty expressed, “The Indian real estate sector is booming due to economic and geopolitical stability, with infrastructure development playing a crucial role. As both public and private sectors make strides, cities across India aspire to become the next Gurugram or Noida, showcasing significant growth. With a burgeoning middle class and an influx of talent, the industry is poised to be a powerful pillar of the nation’s economy.”
Emerging Shifts
The real estate market is transforming due to various factors from economic changes to technological progress. The asset class across real estate have been strengthening from residential, office, retail, that have shown resilience and industrial & logistics, data centers and co-working, co-loving, senior living and student housing that are the sunrise segments of Indian real es- tate. In addition, many new elements in construction, marketing, finance etc. are influencing the future path of India's real estate industry. Fancy George stated, “Today's real estate goes beyond just design and archi- tecture; it's all about finance and marketing too. Despite the challenges of change management, innovations are enabling faster project completion and improved decision-making, driving efficiency and revenue growth for the sector.” According to Hina Kamra, “The past few years have been thrilling for real estate, thanks to the introduction of REITs. These new instruments attracted retail investors, allowing them to participate in the market beyond just hard assets. In addition, the real estate landscape has seen an explosion of diverse sub-asset classes, from warehousing and data centers to logistics and investment instruments like REITs.”
Talking about rising trend of sustainability, Charu Thappar, ED-Property & Asset Management, APAC, Head - Strategy, Platform & Emerging Markets India, Indo- nesia, Thailand & Philippines, JLL said, “As Indians, sustainability is ingrained in us from a young age through practices like reusing items. Our culture embodies this, showing that fragmentation can bring about unique solutions. However, adopting advanced construction technologies and sustainable practices takes time. The reason for this slow process is that it impacts the cost for the end user, affecting the project's efficiency and long-term viability.”
Talking about various innovative and practical strategies that can be adopted to integrate technology for sustainable development, Swathy Sivaraman, CEO and Principal Archi- tect, StoreyBoard Design stated, “The construction industry's shift toward sustainability is fascinating, especially given India's legacy of eco-friendly architecture. Our ancestors excelled in adaptive space planning and the use of local materials, long before it was globally recognized. However, globalization has steered us away from these traditions. By merging traditional wisdom with modern tech through a 'Triple A' strategy— align, adopt, and accept—we can rejuvenate sustainable practices. Key steps include assessing sustainability efforts, starting projects with integrated management, and responsibly managing supply chains to cut carbon footprints, thereby educating future generations for a greener future.”
Sharing her perspective on op- erations and maintenance of developments, Niharika Verma, Senior Vice President Operations (Pune, ROM & Goa), Knight Frank (India)Pvt. Ltd., said, “I have been in facility management for over 22 years, witnessing significant advancements in the field. Today, India's facility management market is valued at$148 billion, bridging organized and unorganized sectors, and presenting vast opportunities for efficiency and partnership across real estate segments. shift towards sustainability is happening, even though the pace is slow. The journey towards sustainability is driven by investors, touch- ing on everything from water and air quality to diversity and inclusion. Regulatory bodies will soon enforce this shift, ensuring compliance and overall well-being. And very soon real estate will be fully digitalized, leveraging the Internet of Things across platforms to streamlining building management.”
Technology Trends
Technology has taken over the world, including real estate. The novel technology tools are revamping the way we interact with our build- ings, whether it is for construction, property management or services such as buying, selling, or renting. But, as real estate is considered a localized game, having a common technology for a decentralized sector makes it difficult for all players to adopt. There is also a gap, between technology and the skilled workers availability.
Sharing her thoughts, Tithi Tewari, CoFounder & MD, Trezi added, “Navigating emerging technologies can be complex, but the upcoming generations will inevitably adopt immersive technologies, transforming how we work and collaborate. I believe in next few years, we will have a less wasteful and more digitized industry, where digital twins and virtual collaborations will replace physical samples and travel, making our industry as advanced as any other”.
Shivani Karia Jhaveri, Co-Found- er & CMO, Blox added, “I've seen a tremendous shift from isolated work to collaborative efforts across all sectors, which shows the emphasis on effective communication among organizations to achieve success. In next five years, I envision blockchain platform for real estate transactions and AI connecting buyers and sellers by interpreting data and preferences, such as location, size, and family dynamics, to make informed suggestions for both parties.”
In Conclusion
As per Shaifali Singh, Indian real estate is poised to adapt and thrive amidst uncertainty and technological integration will offer more opportunities for transformation and innovation. In addition, Fancy George believes environmental regulations and shifting demographics that is tech savvy will pave the way for a more sustainable and inclusive future. Dr. Ananta S Raghuvanshi added that the real estate players will have to address the changing consumer behaviors with proactive strategies to fortify the industry against unforeseen disruptions.
Expressing her final views, Yasha Saraf stated that proptech can drive significant change in the realm of efficiency with automation dramatically reducing time-consuming manual efforts. Shruti Agrawal concurred that technology intervention not only enhances productivity but also allows real estate professionals to allocate more time and resources to high-value, strategic activities. Sheetal Vanwari shared that with a fundamental shift in processes and a cultural change within organizations, we will see more investments in new real estate asset classes.
According to Dr. Ananya Gandotra, with rapid urbanization outpacing infrastructure expansion, collaborative efforts among all stakeholders can only resolve the challenges of urban development. Urmila Rajadhyaksha added public-private joint efforts are crucial for creating sustainable and well-connected urban spaces. Swathy Sivaraman lasting views in terms of eco-friendly practices were that compliance with green building standards and sustainable practices is not just a choice but a necessity. Concluding the discussion with concerns on widening affordability gap between property prices and income growth, Hina Kamra suggested exploring alternative financing options for affordable housing development. Charu Thappar added that innovations in design and amenities aligned with changing occupier preferences are crucial for ensuring sustained relevance in the evolving commercial real estate market. Niharika Verma too summarized that proactive risk management, diversified supply sources, and innovative solutions are essential for maintaining a resilient real estate asset.
For a sustained growth of the sector, Tithi Tewari advocated inte- grating new technologies such as artificial intelligence, blockchain, and virtual reality while, Shivani Karia Jhaveri recommended investment in training programs and technological infrastructure to leverage technology advancements effectively across real estate functions. Binitha Dalal supported establishing of robust regulatory monitoring systems to ensure compliance that will also position real estate professionals as trustworthy partners in an ever-evolving regulatory landscape.
Finally, sharing their final comments on role of women in real estate Radha Ramanujan advice to women professionals was to be aware of their innate qualities and building on them to bring diversity and value to the organization. The final thoughts by Abha Singh were for the top management of the companies that can be most effective in ensuring women empowerment at all levels. Amrita V Chowdhury too lay emphasis on mentorship and empowerment as integral to grooming more wom- en leaders within an organization. Dr. Anar Mehta summarized with a positive sentiment that initiatives aimed at fostering gender diversity and inclusion are gaining traction and will create a pipeline of future women leaders.
ELOLVING SHIFTS
- Sustainable Development - Sustainable construction and eco-friendly materials are the major new factors that real estate is embracing wholehearted- ly. Green buildings and ESG are the new buzzwords of the real estate sector.
- Newer Investment Avenues –Apart from ownership, there are more options available to small investors to invest in real estate. Commercial real estate is becoming a popular choice due to its safe and handsome returns as compared to residential.
- Lifestyle & Amenities – Whether it is home or workplace, amenities have become an important requisite for occupants. Homebuyers seek lifestyle, while employees look for community interaction and wellness in their workplaces.
- Technology Integration - Real estate is witnessing a surge in technological transformation in all aspects from smart buildings, to property transactions and building maintenance to financial deals.
- Shared Culture - Co-Living and Co-Working Spaces are becoming popular among the millennial and Gen-Z population catering to their changing lifestyle preferences and the gig economy.
- Healthy Living - With an increased focus on well-being post covid, real estate sector too is integrating health and wellness amenities into their projects, from green spaces and health-focused infrastructure to using low VOC materials.
The decreasing gender gap proves that talent and capability are being prioritized in hiring processes. if we are talking about equality in workplace, we need to empower women right at the lowest levels to the highest level, mentoring our managers to be the next CEOs.
The biggest shift seen in real estate is that it is becoming, more matured, more organized and more research oriented. The customers are ready to, pay the value for the right advice and for the right product and the government is taking initiatives to regulate the market.
Financial innovations like REITs are making financing easier, driving the current transformation in Indian real estate.
