ISB Holds Panel Discussion on 'Real Estate in India

ISB Holds Panel Discussion on 'Real Estate in India - The Research Imperative'

The Indian School of Business, in association with Ernst & Young Private Limited, India, conducted the first Real Estate and Urban Studies panel discussion on January 13, 2007. The session, titled 'Real Estate in India - The Research Imperative', is a

research initiative by the Students of the Real Estate Club and the Wadhwani Centre for Entrepreneurship Development (WCED) at the ISB, to bring together industry professionals, ISB alumni working in the Real Estate Sector and the ISB students, who are considering real estate as a career prospect. The event was sponsored by Indu Projects Research Chair in Real Estate and Urban Studies.

Perceiving a dearth of knowledge in this booming industry, namely progressive thinking, sustained industry dialogue, public private partnership, the need to strengthen technical know-how, research and adaptation of best practices along sub-sectors of real estate (finance, governance, business processes, etc.) - the discussions sought to bridge this knowledge gap and crystallize possible research areas.

Keeping in line with the ongoing research initiative in real estate and urban development issues at the ISB, 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.

"A year and a half back, we perceived a major 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," said Prof. V. Chandrashekhar, Executive Director, WCED. That was the objective of the ISB Real Estate Research Chair - to contribute to research in the real estate industry on an ongoing basis.

Shyam Prasad Reddy, MD and CEO, Indu Projects Limited gave a glimpse of the RE sector. He said that there is big business for real estate players, what with organized retail mushrooming in the country. However, according to him the industry was ailed by lack of transparency and credibility, an acute shortage of data and academic research, and lastly, a lack of uniform laws and regulatory systems. "A knowledge base and authentic data from a premier institute like the ISB, will help streamline the realtor and also the retail industry," said Reddy.

Ganesh Raj, Partner and National Director, RHC India, Ernst & Young Private Limited, mentioned that this was the country's first research initiative and that the RE industry was always wanting of data and analysis. He introduced the two topics of discussions - 'Land Management in the RE Industry - Assembly, Acquisition and Purchase', and 'RE Financial Modelling - Technique and Data Sources'.

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Contributed by -
Ms. Bhuvana Ramalingam,
Director - Communications,
Indian School of Business, Hyderabad.

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