RICS to start property courses in India

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India's real estate sector is starved for talent. Now, it is looking at the UK-based Royal Institution of Chartered Surveyors, or RICS, to train people, reports CNBC-TV18.

 

Indian developers have announced mega expansion plans but are now faced with a serious shortage of execution and management workforce. However, the proposed entry of RICS could provide some recourse.

 

The internationally renowned organisation, which specialises in property knowledge, is currently accrediting 450 real estate courses worldwide, including one at Cambridge University, and is excited to set base in India.

 

Graham F Chase, President, RICS, said, "We can create property courses across a wide range of subjects that include quality surveying, property valuation, project management, etc. We need to talk to a large number of business schools and state universities to try and see what they do and how we can best evolve these courses. We do have an international model that works well in emerging economies."

 

RICS will also train existing staff in property companies and consultancies to meet international standards. The leading five international property consultants in India, themselves, have a strength of 7,000 employees and intend to double their workforce in three years.

 

Over the next three months, RICS will also meet a number of developers to assess staff demand in the industry.

 

Industry players say they are faced with an acute dearth of skilled staff. And with the real estate sector growing at 30% per annum, industry-specific courses that the RICS is looking to initiate could be a solution to the staffing problem in the property business.