Industry & Economy
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Real Estate & Construction
ISB to broaden research on realty sector
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Hyderabad
Jan. 23
The Indian School of Business in association with consultants Ernst & Young recently conducted an interactive meet on `Real Estate in India - the Research Imperative' as part of the Wadhwani Centre for Entrepreneurship Development (WCED) and has plans to broaden the scope of research on the sector.
Mr Shyam Prasad Reddy, CEO, Indu Projects Ltd, said the mushrooming growth of organised retailing held scope for big business for real estate players. However, the industry lacked transparency and credibility and there was an acute shortage of data and academic research as also lack of uniform laws and regulatory systems. A knowledge base and authentic data would help streamline the realty and retail sectors.
Mr Ganesh Raj, partner at Ernst & Young, said this was the country's first research initiative of this kind and that the real estate industry was always in need of data and analysis. Land management, acquisition and purchase and financial modelling require focus.
Mr Arvind Pahwa, Managing Director, JP Morgan Asset Management, said, "with foreign funds and investors eyeing the Indian real estate market, we clearly need more clarity and professionalism."
Mr Kishore Gotety, Director - Investments, ICICI Venture Funds Management, emphasised the need for a "deep debt market" and well documented data on real estate, more organised urban plan exercise and the ability to benchmark with the public index.
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