REAL ESTATE STUDIES AND MANAGEMENT ACADEMY- need

Gujarat has been recognized for promoting various centers of excellence, imparting educational programs in pure arts, sciences & commerce and professional programs in engineering, design, planning and management disciplines. Internationally acclaimed institutions such as Indian Institute of Management, National Institute of Design and Centre for Environmental Planning and Technology are located in Ahmedabad. However, there is a lack of professional academic organizations purely focusing on the real estate sector.

Professionalized working necessitates organized means of accessing relevant information. Moreover the technical nature of the industry requires that industry operators have atleast a basic knowledge on various related subjects. A multifaceted learning academy that addresses this need is required. Being a highly unorganized sector, a real estate professional grows in the industry more through apprenticeship than through formal training. Again, there are ample cases of miserable failures in this high-risk business. An academy for real estate could impart formal training and greatly reduce the risk and the time spent in grooming professionals for a real estate firm.

During his experiences as a real estate developer, Shri N. K. Patel, acutely felt the need for a training ground, which could empower the upcoming developer, so that he would not have to learn everything through experience alone. This feeling was echoed by Shri Bhargav Desai, who was academically inclined, and understood the need for an open and planned approach. The privy of a select network of individuals, many aspects of real estate could be easily taught and learnt, ushering faster growth.

The current state of real estate industry needs an accurate and easily accessible local and regional database to flourish. Our assessment indicates support from various sections of the real estate sector for an academy. Data can be supplemented and updated by in-house research conducted by an academy. In the long run, an academy would become a launching pad for budding real estate developers. Professionalization in the industry would follow.