NEW DELHI: Real estate remains one of the least inclusive sectors for women with only 70 lakh females among 7.1 crore workers employed in the Indian realty industry, according to a report. Realty firm Max Estates and In Tandem Global Consulting in a joint report ‘Concrete change — A Study of the Economic Impact of Better Pay Parity & Inclusion of Women in Real Estate‘ pointed out that the real estate sector has a long way to go in achieving inclusivity.
“The Indian real estate sector stands at a crossroads. Poised for unprecedented growth, it remains burdened by challenges that prevent it from realising its complete potential. Women make up 48.5 per cent of India’s population, out of which approximately 1.2 per cent female population is employed in real estate,” the report said.
Underrepresentation of women along with unequal pay across all levels of the workforce is one of the most pressing challenges the sector faces, it added.
“Despite its role as a significant employment generator, the real estate sector remains one of the least inclusive sectors for women. Addressing gender disparities could unlock substantial economic benefits, enhancing productivity, innovation, and profitability,” the report said.
The real estate sector faces significant challenges related to workforce composition and gender disparity.
“With approximately 71 million workers employed in the sector, only 7 million are women, resulting in a Female Labour Force Participation Rate (LFPR) of 25.1 per cent,” the report said.
It suggested that there is a need for targeted upskilling and training programmes to empower both blue-collar and white-collar female workers. Integration of technology and access to leadership roles are crucial in driving this transformation.
Sahil Vachani, Vice Chairman and Managing Director of Max Estates, said, “We need to change our mindset and not accept the status quo. Leadership at the top must drive these changes aggressively. It’s good for both society and business.”
With more inclusion and better parity, women can be the changemakers in the sector, said Shormishtha Ghosh, Founder and MD of In Tandem Global Consulting (ITGC).
