The Indian Real Estate Sector and NEEM Scheme | Need for skills development in REAL Estate

With the ambition of providing a house by 2020 to every Indian, we have to seriously work on our skills in the real estate sector.

The Indian real estate is really an aggressive sector. With aggressive urbanization, skilled manpower for the real estate sector is very much an issue. This is a sector which has immense potential domestically as far as generation of new jobs is concerned. The issue with Indian Real Estate sector is that it still relies on age-old work practices. As such, there is a dearth of skilled manpower which can handle modern types of machinery for the sector. Now the crucial question here is, Can the Indian real estate sector really rely on age-old practices to fuel its aggressive growth.?

The answer is a big NO! we need to train our manpower for being competitive. They need to garner the right skills to be more productive. According to healthy estimations, the population of India is bound to grow up to 600 million by 2030. This poses a huge growth opportunity for the real estate sector. New suburban spots are mushrooming, and this leaves us with very less time to upgrade our manpower. The pressure of constructing new dwellings is growing by the hour.

According to the experts, the only way to improve the condition of Indian Real Estate Sector is by reducing the gap between the demand and supply of the skilled labor. This is the holy grail. In order to become a better and sustainable industry, the real estate sector must in every way improve the skills of its workforce. Lack of proper skills is a really big issue with the real estate sector.

Some burning ISSUES of REAL ESTATE SECTOR ARE

Majority of the individuals working in the construction sector are poorly trained.
There is no proper institution that trains the bottom level worker of this sector.
Lack of education on modern implements used in the construction sector is also an issue.
This leads to lower production levels and production delays hence bringing down the overall efficiency of the sector.
The cost of human resources is on the higher side leading to lower profitability.
Every year the real estate and construction sector need close to 5 million new skilled employees, but there this demand being met is more of a dream than reality.

So, what can be done to boost the skills for this sector? Well, the government of India has come up with a pioneering initiative called the NEEM Scheme. NEEM scheme enables the companies to hire the apprentice, train them according to their need in form of OJT. The best part is that there are no legal liabilities, the trainees are managed by the framework of the scheme. All the manpower provided to the companies under this scheme are taken care off by a NEEM agent. The NEEM Scheme seems to be a concrete solution to the skills problem of the real estate sector.

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