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The report “Concrete Change: A Study of the Economic Impact of Better Pay Parity & Inclusion of Women in Real Estate” was jointly published by Max Estates Limited (Max Estates) and In Tandem Global Consulting (ITGC). -
Women make up only 7 million out of 57 million people employed in Indian real estate. -
The research report calls out several actions that can be undertaken to drive inclusion by expanding pay parity beyond unskilled roles, creating pathways for upskilling and career advancement, ensuring safe and respectable work environments, supporting work life balance through policy and leadership commitment to gender equity.
Addressing gender disparities in real estate could unlock significant economic benefits, boosting productivity, innovation, and profitability, reveals a latest industry report, Concrete Change: A Study of the Economic Impact of Better Pay Parity & Inclusion of Women in Real Estate.
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Concrete Change
With only 7 million women among 57 million real estate employees in India, the industry has a long way to go in achieving inclusivity. As a pioneer in the Indian real estate sector, Max Estates is leading the conversation on gender inclusion, recognizing that a diverse workforce is critical to long-term industry growth and resilience. This report underscores the business case for inclusion, urging industry leaders to take tangible steps toward progress.
“A nation’s true potential is realized when its women are empowered to contribute fully. For India to achieve its ‘Viksit Bharat’ vision, women must play a pivotal role. With real estate set to contribute 5-6 trillion dollars to the economy by 2047, women’s inclusion is vital. They bring insights into consumer preferences, design sensibilities, empathy, resilience, and collaboration, shaping communities with care and creativity. At Max Estates, we are dedicated to fostering this change, building a future that is inclusive and transformative,” said Sahil Vachani, MD and Vice Chairman, Max Estates.
The study has received widespread support and recognition including Sh. Manohar Lal, Union Minister of MoHUA, Smt. D Thara, Add. Secretary, MoHUA and other industry leaders. Insights were gathered through in-depth interviews and a survey of over 100 participants, including construction workers, policymakers, corporate leaders, and industry bodies.
“The impact of including 50% of the population in the workforce extends beyond 100% on the economy. In real estate, this formula can be implemented with more work on enabling policies, greater inclusion, and maintaining respectful pay parity. Our research quantifies these economic gains in both the short and long term,” said Shormishtha Ghosh, Founder-MD, In Tandem Global Consulting.
The report not only highlights the challenges but also provides actionable steps that can drive change across the industry, policy, and beyond.
” At Max Estates, we believe that fostering inclusivity within the industry requires a collective effort,” said Rishi Raj, COO, Max Estates. “The industry at large can consider initiatives such as collaborating with academic institutions to integrate real estate modules into their curricula, leveraging technology to upskill women at the blue-collar level and support their transition into skilled roles, and conducting training programs to build workplace cultures that embrace diversity and equity. We are actively exploring these avenues to lead by example and contribute to shaping a more inclusive and dynamic future for the industry,” Rishi added.
The launch of this report marks the start of a broader movement toward gender inclusion in real estate. Max Estates and ITGC invite industry leaders to collaborate and turn insights into action-laying the foundation for Concrete Change.
To download the report, click on the link: Concrete Change
About Max Estates Limited
Established in 2016, Max Estates Limited is a leading Real Estate developer in the NCR region. With the purpose of ‘Enhancing Quality of Life through spaces it creates,’ it has chosen to create premium commercial and residential spaces in Delhi NCR. The company has developed a very well diversified portfolio of real estate across the two asset classes in Delhi NCR and in this pursuit has partnered with New York Life Insurance Company (NYL) particularly for commercial office platform.
Its marquee delivered projects include a one-of-its-kind commercial office space Max Towers, on the edge of South Delhi that opened its doors in 2019, Max House – a re-development of office campus, Max Square, located on a primary office vector – Noida Expressway and, 222 Rajpur, a luxury residential villa community on Rajpur Road, Dehradun.
It has two under construction commercial office projects – Max Square Two, adjacent to Max Square and a project located on main Golf Course Extension Road marking its entry in commercial office segment in Gurugram.
On the residential front, the company has successfully launched and sold its both phases of its first project in Delhi NCR, Estate 128 in Noida, which is currently under construction. It also has successfully launched and sold its second project, Estate 360 in Gurugram – Delhi NCR’s first intergenerational community at scale-in the second half of CY 2024 in Gurugram. Max Estates also has a real estate services & management company – Max Asset Services. Max Estates Limited is listed on NSE and BSE.
About In Tandem Global Consulting Limited
In Tandem Global Consulting is a dynamic, new-age consultancy headquartered in Gurugram, India, offering a comprehensive range of advisory services to clients across the globe. Our expertise spans Fundraising, International Business Development, Government Relations, Public-Private Partnership (PPP) structuring, Research, and more.
At the heart of our approach is a deep commitment to research and knowledge-driven strategies. We provide cutting-edge Business and Financial Modelling, Go-to-Market Strategies, Market Projections, Positioning, and Market Research, enabling our clients to make informed, strategic decisions. Our advisory services are rooted in data, analytics, and industry insights, ensuring that we deliver solutions that are both relevant and precise.
At In Tandem Global Consulting, we believe in the power of synergy. Through collaboration and working in tandem, we create value and unlock new opportunities for sustainable growth.
Safe Harbor Statement
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.