Realty sector creating avenues of employment in Hyderabad
Apr 15, 2014
Source : The Times of India

 

HYDERABAD: Infrastructure growth has been playing a vital role in providing employment in both organised and unorganised sectors in India and Hyderabad in particular. In fact after agriculture, real estate sector is the second largest creator of employment. In Hyderabad several large scale housing projects have come up in the last five to ten years and there are many more projects which are in the pipeline. Several supporting infrastructure need to be built for these projects such as water supply, sewerage, stormwater drains, mass transit, and roads. After the housing sector, the sectors which are experiencing demand for space are education, healthcare, and commercial spaces.

Trivita Roy, AVP, Research and Real Estate Intelligence Service, Hyderabad, JLL India says, ” In the last five years we have seen infrastructure developments such as Rajiv Gandhi international Airport, Nehru outer ring road phase I, PVNR Expressway and many flyovers connecting key areas getting operational. These have not only improved the existing connectivity but have also opened up new suburban locations for development. The key infrastructure developments slated in the next five years would be the Hyderabad metro rail and the Nehru outer ring road being fully operational.” In a report published by L&T metro rail Hyderabad, it is stated that the network will cover a total distance of around 72 km across three corridors, Corridor I- Miyapur to LB Nagar,Corridor II- JBS to Falaknuma, and Corridor III- Nagole to Shilparamam. The project will be integrated with existing railway stations, suburban railway network (MMTS) and bus stations to ensure seamless and comfortable travel. For this they will be hiring over 2,750 persons.

As per India’s urban awakening report released by McKinsey Global Institute (MGI), urban infrastructure needs in India will be immense over the next 20 years, India will need to increase the level of infrastructure spending to meet the challenge of urbanisation. The cities will have benefits beyond their own boundaries. Their research finds that some 180 to 210 million people who live close to cities will benefit because they will enjoy improved access to jobs, markets, and urban infrastructure. Rural populations adjoining large urban centres today have an estimated 10 to 20 per cent higher monthly incomes from the rural average.

Roy says, “The real estate sector refers to two industries of Indian economy—real estate services and construction industry. Real estate services include real estate and dwellings (or housing) which has a share of about 5.9 per cent in India’s GDP as per the Economic Survey 2012-2013.

Construction industry also contributes around 5.9 per cent of the GDP again based on the economic survey. This therefore explains that real estate sector is a significant contributor to the Indian economy and employment provider. The good part about real estate is that it creates employment for all income groups as it has opportunity for both skilled and unskilled workforce.”

“Real estate related jobs can start from a construction worker and can go up to an entrepreneur. However in the organised jobs sector real estate provides jobs for architects, planners, interior designers, construction engineers, plumbing and electrical service providers, real estate brokers and consultants, facility managers, housekeeping staff and so on,” adds Roy.

A recent study by ASSOCHAM states, there are certain issues related to the workforce which need to be addressed. India should enhance the quality of vocational education and training as per the demands of the infrastructure sector. Besides, there is also a need to improve the efficiency of the departments, divisions and training centres, and especially the quality of training services in order to meet industry standards.

There other issues also which need to be addressed to provide better employment opportunities. There is a need for creating awareness to attract talent to this industry as it is still among the less preferred careers. Another aspect which requires consideration is that the real estate sector faces acute crisis of talent availability especially in the skilled workforce. “However, Real Estate firms and professional institutions are now working together to bridge this gap by starting various courses which cater to this industry. Institutions have now started specialised courses on construction management, real estate management, facility management, house-keeping and so on. These are expected to improve the talent crisis in this sector in the next few years,” adds Roy.

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