New institute to provide education in real estate-related disciplines1 min read . Updated: 10 Apr 2013, 08:24 PM IST
Real estate industry needs around 5 million professionals every year
New Delhi: To address the shortage of skilled manpower in real estate, more than 200 Indian property developers have associated with Royal Institution of Chartered Surveyors (RICS), which has tied-up with Amity University to open India’s first institute that will provide education in real estate, construction and infrastructure related disciplines.
“Around 200 real estate developers including DLF, Hiranandani, Unitech, Shapoorji Pallonji and Raheja have participated in developing curriculum for the institute. They have also been involved in developing case studies whether it is Terminal 3 project or metros," said Sachin Sandhir, managing director South Asia, RICS.
Real estate industry needs around 5 million professionals, including architects, civil engineers, planners and facility managers, every year, but only one million such professionals pass out from Indian institutes annually, according to industry estimates. Sandhir said almost 90% of the real estate projects get delayed by three-four years and the acute skill shortage contributes to it significantly.
The institute will start operating from August in Amity’s Noida campus and will initially provide three specialized courses. The first batch will have 135 students. The industry body expects this number to reach 700-800 per year in the next few years. RICS may open a second campus in two years in either Mumbai or Bangalore.