By Dr Sanjay Chaturvedi, LLB, PhD
Real Estate absorbs products and services of over 200 industries in India. The combine turnover of all these industries aggregates to over 4Lakhs cr according to Statistical Survey of India. The sunshine industry which housing millions is only industry in the world which creates wealth for its purchaser.
Players in real estate like builders and developers are now working under the RERA’s jurisdiction and control. Hence the industry has become formal industry with Regulator in place. The uncertainty like in IT sector is not seen in real estate.
If you are a sales and marketing person sky is the limit for you to earn. The standard packages offered by the industry for its beginners is nothing less than Rs. 4.5 Lakh per Annam with additional incentives and perquisites. The highest paid professional who head India’s best builder and highest turnover recorded in Real Estate is paid Rs.5 cr p.a. plus incentives. The journey to 4.5 Lakhs to 5 cr can be achieved in ten years. By the time you start today for your journey of ten years, the cap of 5 cr may become 20 cr with four fold indexation trend.
If you are finance professionals especially Chartered Accountant than real estate is the only sector which gives its beginner a handsome salary. No other industry in India offering Rs10 lakh packages to beginner in finance division. The same is for legal profession. In Fact you will find a permanent seat in builder’s office for an advocate and legal vetting adviser. For a legal professional the real estate offers nothing less than Rs 5 lakh p.a. to 1 cr depending up[on seniority. Digital and IT professionals too gets very good packages in real estate. To generate leads, digital professionals are very much in demand. They too are paid as packages offered to legal professionals. Chartered Accounts need to certify statements to be submitted to RERA time to time. each certification needs to audit and checking of financial transactions and project cost. Cost accounts too need to employed for costing and estimated project cost.
Management professionals like MBAs are actually running real estate industry. These professionals from IIMs and top Management schools are movers and shakers in real estate. Top builders in India operates only through IIM graduates. The management cadre like CEO, CFO, CXO, CMO, MDs and Presidents are MBAs either from IIMs or from some reputed foreign institutes. They not only get lion’s share in profits but also in variables. Starting from 50lakh its goes to 10cr p.a. salary plus perquisites and incentives in profits.
Architects are but natural having great time in booming real estate activities. Huge real estate construction is going on in the country and every inch needs to go under the hands of Architects be it professional practice or employed by the builders and developers. Now a days
Product purchase managers and material handling staff also having professional knowledge of budgeting and cost analysis are in great demand. Big giants like L&T and others who have their own department for material procurement and stock analysis hire these professionals in a big way. These professionals save cost to the organisation hence very much in demand. The salary starts from Rs10 lakh and maximum to Rs50Lakhs for 5 years experience person.
Liasioning officers who speed up compliance process in government departments mostly for construction permissions, architects or engineers or advoacts or a good negotiator can be hired on this post. They handle huge amount of responsibility to get required permissions from government departments in time. Making documents, appearing before authorities, preparing for hearing, getting sanctions for plans and activities. Paid nothing less than advocates.
Admin staff are required to keep records, files, documents, plans, co-ordinating with professionals, filing and book keeping. The real estate industry pays above all industry standards to these staff with great incentives like cars, homes, food etc.
Site Supervisors mostly civil engineers and may also be diploma holders in civil engineering are most in demand. A huge shortage is in offing for such professionals. There are almost 1 lakh sites in offing under construction. These professionals not only certify cost and stage of work for RERA purposes but also controls quality and complaisance. Paid nothing less than Architects.
There are more professionals like advertising agencies, PR agencies, Brand consultants and other ancillary professionals who are employed for handsome salaries and fees.
Real Estate is the best pay master in comparison to all industries.