Realty sector to add 6,000 professionals by 2008

Realty sector to add 6,000 professionals by 2008
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First Published: Sun, Apr 29 2007. 11 52 AM IST
Updated: Sun, Apr 29 2007. 11 52 AM IST
PTI
New Delhi: Sunny days are back for civil engineers and architects in India thanks to the construction boom.
By 2008, the country’s realty sector will add 6,000 professionals. Since this number will still be short of the requirement and hence their salaries are expected to jump by as much as 15-20%.
According to a survey by global executive search firm, EMA Partners, riding on the fast growing IT, ITES, retail and financial services boom, coupled with growing infrastructure and hospitality sector, the Indian realty market is expected to witness a massive demand for architects and civil engineers.
In the fiscal 2007-08, over 1,000 architects and 5,000 civil engineers are expected to be added. The market for architects and civil engineers will grow by 30% this year, as against 20% last year, the survey said.
“The additions will be across all levels but we foresee about ten junior level personnel entering for every one top post,” EMA Partners India, Managing Partner K Sudarshan told PTI.
He, however, said that demand may far outstrip supply thereby resulting in soaring salary levels. It is projected that an overall economic growth with surge in demand will witness at least 15-20% rise in pay packages for architects, design and civil engineers.
For instance, the salary for a project director could be anything between Rs 70 lakh to Rs 1 crore per annum. While at the entry level, which was earlier at between Rs 10,000-15,000 per month, there could be a hike of 25% over existing levels.
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First Published: Sun, Apr 29 2007. 11 52 AM IST
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