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« Indian Real Estate Market Requires Rate Cut | Home | RBI Announces Rate Cut in Short-Term Interest Rates »

RICS to Improve Professional Standards of Real Estate India

A prestigious estate agent’s group has announced a move into the Indian real estate market to improve professional standards.The Royal Institution of Chartered Surveyors (RICS) said it was launching in the country and had already appointed a regional boss for the project. The organisation said it hoped to help to “restore the largely and fairly fragmented real estate sector” in India.Founded in the UK in 1868 by royal charter, RICS provides globally-recognised qualifications for property professionals.

Louis Armstrong, RICS chief executive officer, said: “We look forward to welcoming Indian real estate professionals to the RICS network and assisting them in adopting international best practices.”The group added existing members of the Indian real estate sector have been appointed by RICS to form a review panel to oversee membership awards.Sachin Sandhir, managing director and country head, RICS India, said:“We will look to establish the RICS qualification as a benchmark for professionals working inthe land, construction and property related areas in India.”Links with Indian universities are also being developed in order to create education standards relevant to the property industry.RICS already has over 100,000 members in 146 countries, supported by a network of regional offices in every continent.

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