Finance Minister Mr Arun Jaitley while presenting his maiden budget on July 10, 2014 announced a budget which provides a kick start to the real estate and construction sector. He was hopeful of making the real estate sector the harbinger of growth; creating millions of jobs and employment opportunities and bring the economy back on the growth path.
The vision to create better rural and urban infrastructure and the development 100 smart cities will lead to job creation and employment growth within these sectors. Focusing to create millions of jobs in this sector he was of the view that business friendly policies will boost economic growth, paving the way for more jobs for skilled and semi skilled professionals.
The Finance Minister made several announcements in Union Budget 2014-15 to boost real estate, construction & infrastructure sector which need more skilled management professionals.
The allocation of Rs 7,060 cr for development of 10 smart cities would have a positive impact on the real estate sector, as developers will be able to offer new projects in the upcoming cities boosting the social, economical infrastructure in the region and create new jobs.
The Changes propsed in FDI norms for housing projects for creation of smart cities, the government has proposed number of positive changes to promote more foreign direct investment and boost affordable housing in the country.
The commitment to provide housing for all will get a shot in arm with housing interest exemption limit on housing loan enhanced to Rs 2 lacs. While infrastructure sector in particular needs financial assistance, development of urban infrastructure remains a challenge. The allocation of fund for urban infra projects will help improve the urban landscape and boost economic growth, employment and housing in our cities. Additionally, easing bank lending to infrastructure sector will further strengthen the efforts for improving country’s sector.
In fact the real estate and construction sector needs better management professionals. The sector is expected to have ample career opportunities in near future and the demand for fresh MBAs in this sector is expected to rise. As such Opportunities are expected to rise with the projection of great expansion of Real Estate sector
Management courses in real estate sector, at present exist in a few B schools like RICS. RICS and Amity University have together established RICS School of Built Environment in Delhi NCR to provide quality education for aspiring professionals in built environment. The Royal Institution of Chartered Surveyors(RICS) Provides, MBA in Real Estate & Urban Infrastructure with specialization in Investment & Finance or Marketing, MBA in Construction Project Management and MBA in Construction Economics & Quantity Surveying.
A higher placement after completion of MBA in real estate and infrastructure can be available in future in areas like Investment Management, Investment Banking, Asset Management, Valuation/ Appraisal/ Credit Management, Advisory and Consulting, Corporate Real Estate and Facilities Management, Building Control Management, Construction Project Management
Stay tuned to MBAUniverse.com for more updates on more updates on budget 2014
