India’s real estate sector has recorded an 8 per cent drop in job postings between May 2017 and May 2018, impacted by the implementation of the Real Estate (Regulation and Development) Act (RERA) 2016, an indication that the sector is taking time to recover from the Act. However, the number of job searches in the sector has increased by 8 per cent in the last year, according to data from job site Indeed.

The RERA roll-out promised to make the real estate sector more regulated and transparent, thus building confidence amongst job seekers to explore work opportunities in the field. Post the implementation of the RERA Act, job seekers with experience in civil engineering, electrical engineering, marketing & sales, mechanical engineering, project management, architecture, management & administration, accounting, communications and legal profiles have shown significant interest in working in the real estate sector.

As the promulgation of RERA has given developers and customers greater clarity as to their future prospects, it has also opened doors for job seekers who are looking for successful long-term stints in the real estate sector.

“Implementing the RERA Act is one of the most important regulatory moves by the Government of India with regard to the real estate sector. Once thought to be largely unorganised, the real estate sector has now become more transparent, better organised and far more accountable after the introduction of RERA. While the sector is still recovering in the aftermath of RERA, the Act’s stipulated compliances and regulations are expected to unlock potential job opportunities in various capacities,” Sashi Kumar, Managing Director at Indeed India, said.

“These measures have been taken by the Government to facilitate a healthy restoration of the people’s confidence in the realty sector. The industry as a whole has also taken to these measures in a positive manner and is collectively working to reinvent the sector towards encouraging job creation, in order to contribute to the Indian growth story,” he added.

The data further indicates that Noida is the leading city for those seeking job opportunities in the real estate sector, followed by Mumbai, the financial hub of the country, and Silicon Valley city Bengaluru. The cities that make it to the list of top regions for jobs in the sector are incidentally cities that are also seeing burgeoning job growth in other sectors, such as technology and related fields of work. In fact, the influx of job seekers towards other sectors has likely provided a positive impetus to real estate development in these regions, thus triggering consequent growth in the sector as well.

Indeed’s data also highlights a high-level of interest in jobs in the real estate sector among the 36-45-year-old age group of job seekers. While millennial job seekers show the least interest in the sector, an interesting observation is that real estate job opportunities are actively sought by job seekers in the senior age bracket, that is in the 51-65 year old age group.

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