The Indian School of Business (ISB) has signed a memorandum of understanding (MoU) with Indu Projects Limited, a Hyderabad-based infrastructure development company, to establish a research chair for real estate and urban studies. | |
| The Rs 370-crore Indu Projects is making a grant of $5,50,000 (approximately Rs 2.5 crore) for a period of five years in this regard. |
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| Apart from initiating research activities in the areas of real estate and urban studies, this development at the ISB will also see new electives being offered to the students in the aforesaid areas so that they get placed in companies that are active in this industry. |
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| The B-school also plans to organise workshops and conferences on topics dealing with real estate and urban studies. Consulting work will also be done on a case-to-case basis. |
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| Addressing the media, M Rammohan Rao, dean of the ISB, said, "This is the first research chair being established at ISB. Initially, it will function under the Wadhwani Centre for Entrepreneurial Development and may evolve into a centre of excellence in the future." |
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| According to V Chandrasekar, executive director, Wadhwani Centre for Entrepreneurial Development, there is very little data available on the real estate industry today and there is a whole lot of people keen on transacting in this area. |
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| "In future, therefore, we are looking at arriving at some indices on factors like cost of construction, local by-laws, real estate prices etc," he added. |
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| Syam Prasad Reddy, chief executive officer of Indu Projects, said that the motive behind them sponsoring a research chair was to ensure that there is availability of authentic information on real estate and urban studies in the market. Reddy gave the first tranche of Rs 49.5 lakh to ISB today. |
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