Women could reshape Indian realty landscape
The Indian real estate sector, despite its stature as a significant employment generator, grapples with glaring gender disparities. A recent report revealed that out of 7.1 crore workers employed in the sector, only 70 lakh are women, representing a Female Labour Force Participation Rate (LFPR) of just 25.1 per cent. This striking imbalance highlights the deep-rooted challenges women face in securing equal opportunities in a traditionally male-dominated industry.
The study, jointly conducted by Max Estates and In Tandem Global Consulting, titled Concrete Change: A Study of the Economic Impact of Better Pay Parity & Inclusion of Women in Real Estate, emphasised the transformative potential of addressing these disparities. Women comprise 48.5 per cent of India’s population, yet only 1.2 per cent of this demographic is employed in real estate. The sector’s underrepresentation of women, coupled with unequal pay structures across roles, poses a significant barrier to achieving its full economic potential.
Leadership voices from the industry have called for proactive measures to bridge this gap. Sahil Vachani, Vice Chairman and Managing Director of Max Estates, underscored the importance of shifting mindsets at the leadership level to champion inclusivity. Shormishtha Ghosh, Founder and Managing Director of In Tandem Global Consulting, highlighted the economic and societal benefits of greater gender parity. She believes empowering women through targeted upskilling and leadership opportunities could redefine the workforce composition, driving innovation and profitability.
From a sustainability perspective, inclusive workforce practices in real estate align with long-term goals of equitable growth and societal well-being. Enhancing female participation ensures diverse perspectives, which are critical in developing urban spaces that are sustainable and attuned to community needs. By integrating technology and fostering leadership roles for women, the sector can address its pressing challenges while contributing to a more balanced and resilient urban development narrative.
As India’s real estate sector stands on the cusp of unprecedented growth, the journey towards inclusivity demands strategic focus. Addressing gender disparity is not only a social imperative but also a pathway to unlocking untapped economic potential and fostering innovation that reflects the aspirations of a progressive society.
