Real Estate Management

Real-estate development concepts and techniques; the physical and economic characteristics of land and property; the types of real estate (residential, commercial, retail, industrial, institutional, mixed-use); the institutional players; the sequential development process from idea to asset management; and development planning — its preparation and interpretation.

Project feasibility — the market study and the financial appraisal that decide whether a project proceeds; development financing (debt and equity, loan-to-value, the cost of capital); site inventory, evaluation and feasibility; understanding and analysing market trends and trajectories (micro and macro); the factors driving real-estate demand; and assembling the development team.

Planning objectives and layout parameters — plot sizes, the road network, infrastructure, open spaces, and the efficiency of a layout; the FSI/FAR that sets the buildable quantum; the master plan and the Detailed Development Plan; and the front-end clearances and approvals from the development authority, RERA and other agencies.

How property is valued — the sales-comparison, income (capitalisation) and cost approaches, and the residual method for development land; cap rate, net operating income and yield; the field market survey — supply, demand, absorption and price; and reading value through case studies.

Library, archives and the internet as sources, and finding, evaluating and not misusing them; the ethics of real-estate research; methods of data collection — primary (observation, interviews, questionnaires, sampling) and secondary; and writing up real-estate research with a clear outline, referencing and presentation.