A BBA programme is a stepping stone to a successful management career, but a plain BBA degree can only take you so far in life. The fact is, intense competition in every field has necessitated the requirement for specialisation. Hence, it is essential that you start developing comprehensive domain knowledge early on in your academic life.
Today, many colleges and institutions in India have realised this and aim to make the youngsters industry-ready, productive, and employable when they start their careers. Owing to this, there has been a restructuring of BBA programmes in the country with core subjects and specialized electives that are industry-specific.
One such emerging field is BBA in Real Estate Management. Let’s explore why!
The Rising Industry of Real Estate
The Real Estate sector of India is expected to reach US$ 650 billion, and the share in India’s GDP is projected to increase to 17 per cent by 2040.
A brief summary of the present functioning of the real estate industry:
- Over 70% of the global wealth is invested in Real Estate
- 5.2 crore houses are estimated to be built by the end of 2022
- USD 1 Trillion worth investment in infrastructure is estimated in the next 5 years
- 100 smart cities will be shaped, as per Government plans
- There is 80% shortage of talent
The emergence of rapid urbanisation, household income, and nuclear families are likely to remain the key drivers for this growth in all spheres of real estate, including commercial, residential, and retail. Furthermore, more than 70 per cent of India’s GDP will be contributed to the urban areas by 2020, which means that rapid urbanisation is pushing this growth of real estate.
The government of India has been highly supportive of the real estate sector and has taken many initiatives to boost the sector, some of which are as follows:
- In August 2015, the Union Cabinet approved the Smart City Plan in India and also raised FDI limits for townships and settlements projects to 100 per cent.
- Under the Pradhan Mantri Awas Yojana (PMAY) project, close to 6 million houses have been sanctioned. The scheme is aimed to push affordable housing and construction in the country.
- The government has released draft guidelines for investments by Real Estate Investment Trusts (REITs) in non-residential aspects.
All of this accounts to the fact that the potential in the real estate and urban infrastructure sector has been highly realised by the government and consequently, the academic institutions of the country.
BBA Real Estate and Urban Infrastructure
A BBA in Real Estate and Urban Infrastructure offers students with an extensive comprehension of the services that are needed for real estate transactions and economics that are associated with land ownership. Students will also learn how to analyse the current market trend and investment in a particular transaction. Upon successful completion of the course, you will attain a practical understanding of the sales, management, and support system that goes into successful real estate development.
When it comes to picking the right institution to pursue a BBA in REUI, the RICS School of Built Environment is on top of the list for most students. Doing a BBA from this institution will cater to the need of a professional with training in management, operation and financing for various infrastructure services. They provide knowledge on influencing both public policies and regulatory practices. The course is designed to provide specialised skill training involved in this sector. With multiple exchange programs, the institution aims to make students ready to work in an industry that is global, high-impact, professional and at the forefront of cutting-edge technology.
Some frequently asked questions (FAQs):
What is RICS and what do you mean by RICS-accredited degree?
Royal Institution of Chartered Surveyors, UK, is the leading global body that promotes the highest standards in real estate, land, management, valuation, construction and infrastructure. RICS-accredited degrees are granted by this professional body and is highly valued by employers across the world. In India, RICS SBE is the only institution that provides this globally-recognised degree.
Does NICMAR provide access to any chartered qualification like how RICS SBE does?
NICMAR doesn’t presently provide any access to Chartered Qualification. However, it provides full-time postgraduate programmes in the field of advanced construction management, Project Engineering, Project Engineering, Real Estate and Urban Infrastructure, and Infrastructure Finance, Development & Management.
What is the scope of the real estate sector in the upcoming years?
The future definitely seems to hold a lot of positive growth and opportunities for the real estate sector of India. Just take a look at how far the industry has come over the last decade. Developers have gone from simple apartment complexes to multiple luxury projects all across the country. Chennai is one example of this development. Popular real estate developers have launched various projects that will expand the real estate market for the years to come.
What are some areas of work after completing BBA in REUI?
There are various areas of work, some of which are: Business Management and strategy, real estate development, valuation and finance, CRE-FM and asset management, real estate marketing leasing and transactions, and research and consulting, among many others.
What are some companies that show for the placement session at RICS SBE?
The institution has tie-ups with nearly 350 Indian and global firms who work with them every year to meet their talent requirements. Some of them include Shapoorji Pallonji, Vedas Consultants, AECOM, Turner and Townsend Pvt. Ltd, and CWC LLP, among many others. In real estate, firms like ANAROCK property, Citibank, Cushman and Wakefield, and many others are included.
Build a high-flying career in Real Estate with a specialised BBA from RICS SBE and prep up to speak the global language of Real Estate! Apply now!