Indian Institute of Management-Bangalore (IIM-B) and property developer Century Real Estate have signed a memorandum of understanding (MoU) for setting up the IIMB-Century Real Estate Research Initiative.
The research initiative is expected to focus on collecting data and conducting scientific, cross-disciplinary research on the Indian real estate sector that would be published in academic and practitioner journals.
In addition, the research initiative would also provide guidance and policy prescriptions to government and industry stakeholders on major issues relating to the real estate sector.
Prof Pankaj Chandra, Director, IIM-B, said, “For more than three decades, IIMB has exemplified excellence in management education. From an emphasis on the public sector, to information technology to a focus on emerging economies, IIMB has traversed many boundaries to develop its own expertise in management education and research. The setting up of this research initiative is another step in this direction.”
Dr P. Dayananda Pai, founder, Century Real Estate, said, “There is a tearing need for such an initiative that will focus on research, act as an interface between the industry and the policy makers and eventually produce quality human resource for this sector.”
“The initial charter for the research initiative will be to create taxonomy of relevant data that will be required to do meaningful research, initiate research projects that fill key knowledge gaps and engage with key stakeholders within the industry,” said Prof Venky Panchapagesan, who has been leading the effort to set up this initiative at IIM-B.