Punjab- based Lamrin Tech Skills University(LTSU) has come up with a first of its kind course -RESEED (Reinforcing Skill Education For Employability Development ) for channel partners through Stellar School of Real Estate, set up with the help of real estate veteran Vineet Nanda , Chairman, Regional Urban Infra Committee, FICCI & Director, Sales & Marketing, Krisumi Corporation. Nanda is the member of the Board of Management of LTSU .
According to Dr Sandeep Singh Kaura, Chancellor, LTSU, the Stellar School of Real Estate is aimed at providing the new age knowledge and skills to the working professionals and the young workforce aspiring to join the high growth real estate industry. RESEED will build a learning eco-system by providing global level skills to youth , making them employable- ready in India and abroad.
Vineet Nanda says that the course has been launched keeping in view the need for industry professionals to be equipped with knowledge of legal and government regulations, soft-skill development and digital and technical domains of the sector. RESEED course has been designed keeping in mind both practical and technical aspects, particularly in a RERA-regulated environment.
According to Bhaswar Paul, a senior industry professional who has prepared the curriculum for this 3-month duration certification course, it will include a wide range of topics. These include property management, real estate finance, This follows the credit system as per National Credit Framework of UGC including credits for on the job training , leading to recognized certification by the University. The programme will inspire channel partners, agents and young professionals to learn and advance their real estate careers under constant guidance from top industry veterans and highly experienced instructors and provide new job opportunities to young workforce. Leading global property consultancy JLL India is a knowledge partner and according to Akash Bansal, Senior Director & India Head, Strategic Consulting , JLL India, RESEED course will enable the brokers/channel partners to gain confidence and position themselves as elite certified professionals.
Beginning with Certificate Course for Channel Partners, Stellar School of Real Estate will offer various programs from certificate level to diploma to degree and postgraduate level. The graduate and higher degree programs shall be offered under Centre of Excellence whereas diploma and certificate level programs will be conducted under Centre for Specialized Training and Centre for Vocational Training.
Regulatory Framework for REITs/InvITs Proposed
The Securities & Exchange Board of India (SEBI) has proposed to allow Real Estate Investment Trusts (REITs) and Real Estate Investment Trusts ( InvITs) to issue depository receipts to provide foreign investors an opportunity to participate in the units of Indian emerging investment instruments . This will benefit foreign investors as depository receipts avoids the need to trade directly with the Indian Stock Exchange.
REITs and InvITs are set up as business trusts and hold and operate revenue-generating real estate or infrastructure assets. They raise funds by issuing units to the public at large. REITs and InvITs do not have multiple schemes or classes of units. The units are denominated in Indian rupees and are required to be listed on a recognised stock exchange in India. Permitting issuance of Depository Receipts against units of REITs and InvITs which are listed on a foreign stock exchange in India, gives foreign investors an opportunity to participate in the units of Indian REITs and InvITs.
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Orders on Property Portals’ Registrations as Agents
Property portals have won the legal battle against the Maharashtra Real Estate Regulatory Authority which had directed for the listing of real estate portals as property agents. The Maharashtra Real Estate Appellate Tribunal has set aside the order passed by the Maha RERA and directed the authority to hear the matter afresh. Prior to Maha RERA order, a consumer body had filed a complaint with the Authority , pleading that property portals should be registered as real estate agents.
Real estate portals had challenged the October 2019 order of Maharashtra RERA on the ground that these portals were simply providing information and guiding property buyers to check realty projects from the websites of authorities like RERA in order to make an informed decision and were not at all involved in facilitating the sale of property.