Real Estate

12/11/2014 Career

Urbanization process being at its peak, the property and real estate
industry is passing through a boom phase in India. Property and estate
sector is a profitable business for many investors these days. However,
to oversee day to day operation, it requires the professional expertise
of a real estate manager. Property & Real Estate Managers help to
coordinate all financial and administrative operations of real estate
investments. Main duties of these managers are invested with duties of
collecting rent, refunding security deposits, showing properties to
prospective tenants and adhering to community guidelines. Other
responsibilities for a property manager include employing
contractors/laborers for maintenance of all infrastructures.

Course Details
To
start a career in Property and Real Estate Management the minimum
qualification is MBA (Real Estate Management) which is offered by a
number of institutes in India. There are several Post-Graduate Diploma
and Certificate level courses available throughout the country. For MBA
(Real Estate Management) the basic eligibility is graduation. Candidates
seeking admission into this course have to go through written test,
group discussion and personal interview conducted by the institute
concerned. The minimum eligibility and course duration of PG Diploma and
Certificate courses are different from institute to institute.

Career Prospects
Property
& Real estate Managers can work with real estate departments in
banks, NBFCs and trust companies. Most of these managers prefer to work
with real estate firms. Besides job options in community association
management companies and national and international property management
firms are also available for these managers. A Real Estate Manager also
can work independently to work in daily operations, or serve as part of a
real estate management team as a liaison. Some property manager may
also serve on real estate management boards to work with projects
concerning financial planning, asset management, and resident
regulations. Besides jobs in civic groups, real estate sales and
marketing firms and cooperatives are also open to these professionals.

Top Colleges Offering UG/PG/Other Courses
Different
courses in Property and Real Estate Management are offered by many
institutes in India. Some big names in this area are: S M School of
Management Technology, Noida; Delhi Business School, Delhi; IILM
Institute for Higher Education, Gurgaon; Akruti Institute of Real Estate
Management and Research, Mumbai; Yajnas Academy of Real Estate
Management (YAREM), Hyderabad; Institution of Estate Managers and
Appraisers, Kolkata; International Institute of Real Estate, Investment
and Finance, Delhi and St Xavier College, Kolkata. Besides, Centre for
Continuing and Distance Education, Raipur and Karnataka State Open
University Mysore offer distance learning courses in real estate
management.

Remuneration
Careers in property management
are generally salaried positions that include several other allowances
and benefits. Initially they can expect Rs 20,000-25,000 per month. An
assistant property manager should expect to make 40,000-50,000 per
month. On the top level a real estate manager can earn a salary of
70,000-1 lakh per month and also can expect an annual bonus along with
other fringe benefits.

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