#Shepreneurs: Women Raising the Bar in Real Estate Real estate is one of the hottest sectors when it comes to investment, with the growing awareness among millennials and thanks to Warren Buffet's quotes on having more than one source of income, millennials' newfound keen interest in the sector is not surprising at all
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The real estate is one of the hottest sectors when it comes to investment. With the growing awareness among millennials and thanks to Warren Buffet's quotes on having more than one source of income, millennials' newfound keen interest in the sector is not surprising at all. While real estate provides financial avenues, its state keeps churning up and down the line of normalcy.
The real estate sector is slowly seeing the emergence of women. If not slowly, then gradually is a better word to pursue. Even though women made an advent into this sector as early as its inception but their recognition did not come in only until a few years ago. As part of Entrepreneur India's Shepreneur series, we ask women in one of the most recognized sectors after agriculture, what they feel and believe about it.
Mona JalotaMona Jalota, Founder & MD, Krypton Global Investments
Why are Women in Real Estate So Less?
In India, real estate as a profession was largely unregulated with no rules and regulations, inflexible working hours, unusual demands on time, etc, unlike the current scenario. Hence it was never looked up as an encouraging profession for women to be in.
What is the Current Scenario of the Real Estate Sector?
The current scenario of real estate is extremely exciting. A positive change is seen in the sector ever since RERA is introduced by the government. RERA has not only brought about transparency in deliverables but has also given an industrial status to real estate in India. It's delightful to know that the real estate profession is considered as one the largest contributors to the GDP of the nation. There is a lot of professionalism in the sector now and with a greater number of educated professionals being a part of the sector, hopefully, the overall quality of the sector will see a vast improvement.
How Did You Enter the Space of Real Estate?
I was exposed to the business of real estate since a young age and being a part of this profession made perfect sense to me. I knew this is a profession I can manage on my own time, can put my networking skills to the best use and achieve success. Being a woman, it is a challenging profession, however, I firmly believe that if you conduct yourself in dignity and have the wherewithal to be at the peak of your professionalism, this is a sector which can yield tremendous dividends to you.
Vyoma PanditVyoma Pandit, CMO, Shriram Properties Ltd.
Why are Women in Real Estate So Less?
Real estate has traditionally seen fewer women since land dealing and construction is largely seen as a man's domain. But as the industry got better organized and branded players started emerging, it can be said that the purchase and service cycle has also matured. Adding to that, departments like marketing, sales, customer relations, design, and interiors have been set up which have a lot of scope for women professionals. I strongly believe that women, because of their multi-tasking ability and high EQ bring in a lot of professionalism, efficiency and a much-needed open perspective into an otherwise traditional industry.
What is the Current Scenario of the Real Estate Sector?
Real estate in the last 2 years has seen a steep maturity curve owing to changes in regulation. GST reforms have helped clean up the black money transactions that used to hamper supply-demand mapping, transaction transparency and pricing strategy. RERA act, with its requirements of cash flow management, clean approvals and timely delivery has helped segregate the men from the boys. Supply is now streamlined, unviable projects have folded up and the industry has already started seeing consolidation.
What are the Problems in the Real Estate Ecosystem That You Endeavour to Solve?
Being in the sales and marketing domain, some key areas I'd like to address are
1. Helping a customer discover the right home at the right valuation.
2. Making home buying/investment a financially viable option for young buyers in their 20s.
3. Ensuring better customer service to reduce the pain in home ownership.
4. Create easy home management services like rental & resale that make the category more attractive to investors.
5. Over a period of time, create a product line where there's something for everyone from a student to a professional wanting to rent with ease to an investor wanting to diversify into a tangible, steady asset.
Yukti NagpalYukti Nagpal, Director, Gulshan Homz
Why are Women in Real Estate so Less?
It is one of the harsh realities of life through women have been in this business for quite some time. If we talk a macro level then women have been in the real estate sector since its inception in the 18th century. However, the participation of women was limited maybe because of the nature of the business that required long hours and involvement at the construction site. The perception also led to lesser involvement of women even on the investment side. Gradually, things have changed over the last few years and now we see more women even at the selling side.
What is the Current Scenario of the Real Estate Sector?
The sector is holding up even in the challenging times as it is catering to the most basic need of people – home. The market seems a bit slow which is true for almost every industry or sector in the country. Yes, there are real estate specific challenges also such as increasing land cost, the rising cost of raw material and most recently not getting Input Tax Credit (ITC). The sector as a whole has become more organized after RERA was implemented and so we can say things are moving in the right direction.
What are Your Plans for Expansion?
We were into core residential real estate till now and we are planning to enter the commercial and hospitality segment as well. We will be coming up with malls, hotels, and commercial spaces soon. We want to meet all the real estate needs of people, be it home, house, office or shopping.
