2019 is going to be an important year for the real estate sector in India. Last year, the realty sector witnessed a sudden boom phase. And this year too, with all probability, the upward trend is going to continue. Reasons are –
- Government of India’s missions of Smart Cities and ‘Housing for all by 2022’ to provide affordable housing for all requires building almost 10 million houses in the country by 2022.
- The demand for commercial spaces in the cities is rising high. Demand for residential places is also at a high.
- 2018 has witnessed a 40% increase in the sales of the real estate sector. The percentage is projected to not decrease in 2019 in any way.
The surveys, predictions, and projections clearly say that the boom phase of the real estate sector is going to continue this year too.
However, in comparison to the real estate sector, the IT sector is suffering from a static phase. The initial boom phase of the IT sector started off early in the 2000s when the industry recorded massive growth and the employees too received an increment in double-digit percentage.
But now the IT industry has reached its maturation point. The increment is no longer very lucrative. Instead, the employees are now depending on the rewards for performance and bonuses for that extra annual cash inflow.
The situation is not expected to change anytime soon. Hence, a big increment in remuneration in the IT sector is quite a distant dream at the moment.
But the scenario in realty sector seems to be quite different. With an increasing number of projects and demand for experienced and academically backed employees going up, the remuneration and salary of realty sector employees are expected to rise high this year.
The major problem in the sector is the lack of key talent. Institutes like iLEAD, a real estate college in Kolkata, provides the required experience and academic degree to the aspirants to make it big in the real world.
The prevailing real estate courses in Kolkata enables a student to get to know all the practical aspects of real estate management. They are taken to field trips, given opportunities to design, plan, study the legal and business framework and even work on projects to enhance their knowledge even before they are ready to explore the industry in real.
It is predicted that the salary of real estate employees will increase at a rate of 10% or more in 2019. So in case you are a real estate employee or want to be one, the period from 2019 to 2022 can be regarded as the golden period for real estate. All you need to do is gain a bit of knowledge from a real estate college before indulging yourself in the business as no knowledge may simply lead you to no profits.