The Indian Institute of Management Bangalore’s Real Estate Research Initiative (IIMB-RERI) is a one-of-its-kind Initiative in the country with an aspiration to be the world-class Centre of Excellence that is fully dedicated to the Indian real estate (RE) and allied sectors. Currently, it’s the only such initiative in the country dedicatedly conducting scientific and inter-disciplinary research, driving policy, teaching the nuances and engaging with all stakeholders across the Real Estate (RE) spectrum. Other activities include community outreach and engagement with the general public.

Real estate and its ancillary industries like construction account for almost a fifth of India’s GDP. It is also the nation’s second largest employment driver after agriculture. There are multiple stakeholders spanning its value chain such as the government, landowners, developers, brokers, banks and, of course, consumers. According to the Ministry of Finance’s Economic Survey (2011-12), the housing sector ranks third in its breadth of impact and fourth in its multiplier effect on the economy. It is estimated that for every rupee invested in housing and construction, Re. 0.78 gets added to the GDP. Given this, it becomes imperative that focused data-driven research and policy is shaped in this sector.

The RE sector has transformed itself into an agile and prime mover of the Indian economy with both the policy level push from the governmental side as well as pull from the customer side demand and sectoral response. Having been active participants as well as catalysts of this vibrant transformation of the sector, we believe we are at the cusp of IIMB-RERI 2.0. Over the past decade of our existence, we have set up a strong platform and launchpad for ourselves to take off from. Given our 360° engagement with all stakeholders of the sector, we strongly believe we are well positioned to drive academic as well as professional level research. In order to achieve this, it becomes imperative to draw up a vision based on our core principles, mission and key focus areas. Here, we elucidate what we envision for the future based on five distinct mission and four focus areas.