The Indian School of Business + Ernst & Young has recently conducted a Real Estate panel discussion in Hyderabad. Called "Real Estate in India - The Research Imperative" - to bring together industry leaders, and students working in the Real Estate Sector, who are considering real estate as a career prospect.
Perceiving a lack of knowledge in this booming industry like forward thinking, sustained industry dialogues, public private partnerships, the need to strengthen technical know-how, research and best practices in real estate (finance, governance, business processes, etc.) - the discussions were focussed on bridging this knowledge gap and crystallizing possible research areas.
Considering the ongoing research in real estate sectors & urban development issues, this panel discussion sought to go beyond mere economics and demographics of real estate. It saw India's real estate and infrastructure industry professionals, formulate a definitive dialogue on Indian Real Estate.
The industry has long perceived a need for professionalism to be inducted in the real estate industry. There is a lack of data and information, though the industry is growing at a dynamic pace. Moreover, most support sectors are not instutionalised as yet.
Surely, there are big bucks for real estate players with retail and housing sectors growing at a fast pace. But the industry lacks transparency and credibility, an acute shortage of data and academic research, and a lack of uniform laws and regulatory systems. A knowledge base and authentic data from business schools and government agencies will help streamline the realtors and the overall industry. Hope for a better realty market!
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