Real Estate Education in India - Challenges and Opportunities

Reema Bali and Anurita Bhatnagar

ERES from European Real Estate Society (ERES)

Abstract: In India, there are several challenges facing the real estate education sector. One of the biggest challenges is the lack of standardization in the industry. There is no formal accreditation process for real estate education programs, which means that the quality of education can vary greatly from one institution to another. Another, challenge is the lack of practical training opportunities for students. Many real estate education programs(Bhatia & Reema, 2019) in India focus heavily on theoretical concepts, rather than providing hands-on training that would help students develop the skills they need to succeed in the industry. Despite these challenges, there are also many opportunities for growth and development in the Indian real estate education sector. One opportunity is the increasing demand for real estate professionals in India, as the country's economy continues to grow and develop.(Real Estate Demand in India Will Boom in 2023, n.d.) Additionally, the Indian government has recently announced plans to invest in the development of affordable housing(PMAY (U), n.d.), which could create new opportunities for real estate professionals(Indian Real Estate Industry: Overview, Market Size, Growth, Investments...IBEF, n.d.). Also, with the advent of technology and internet penetration, the online education system is getting more popular, and it is expected to play a vital role in providing education to people from remote areas, who otherwise have limited access to physical education centres.(10 Reasons to Study Real Estate! - Naveen Jindal School of Management | The University of Texas at Dallas, n.d.) This paper shall look at the various universities offering a master level degree in real estate. Further, looking at the various accreditations offered and their credibility and suitability for the Indian market. Being a professional course, requiring direct approach with this dynamic industry; how outreach(McGrath & Geurts, 2022) would play an important role in curriculum development(Real Estate Continuing Education Research Paper - 501 Words | Cram, n.d.). A comparative(Oloyede et al., 2017) with other jurisdictions(Kim & Pior, 2018) that offer real estate programs shall also be undertaken to highlight the best practices(Full Article: The Future of Real Estate Education: A Multi-Faceted Perspective, n.d.) that may be inculcated in India.

Keywords: Higher Education Institutions (HEI); Industry led Programs; Master's Degree; Real Estate Education (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2023-01-01
New Economics Papers: this item is included in nep-ure
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