SBM-NMIMS: COURSE TEACHING PLAN

With Assurance of Learning components

TBA
Course Code
Real Estate Industry and Dynamics
Course Title

Course Dr. Alaknanda Menon Alaknanda.Menon@sbm.nmims.edu # 9926

Instructor/s
3 credits - 100 marks paper
Credit Value
Programme MBA REM Term 1 Year 1
& Trimester
-
Pre-requisite

CLOs –
1) To understand the nuances of Real Estate Sector (PLO 2b)
2) To analyze and integrate various functional activities pertaining to real estate
Learning
business (PLO 3a)
Objectives
3) To be able to appreciate the necessity of multiple functional areas and their
contribution in the real estate development process (PLO 3b)

1. Get an understanding of the Real Estate Sector.

2. Appreciation of multi-functional dependencies in a Real Estate Project
Learning 3. Appreciation on how organizations evaluate a real estate project and embark on the
Outcomes process of development
4. Understanding of the role of third parties, intermediaries and regulatory authorities
in the process
This is an introductory course on Real Estate Sector and shall help students understand the
Course
sector, the stakeholders and their roles and responsibilities that have shaped and continue
Description
shaping the sector trajectory. Students become aware of the real estate development process
and the nuances of each process and learn to appreciate the complexity of the sector.

Specific assessment % AOL

methods / tasks Weightag Instruments Intended CLOs to be assessed
e
CLO 1 CLO 2 CLO 3
Class Activities 10 Embedded
Questions
Evaluation
Pattern Pre Read Discussion 10

Group Project 40 Rubric 

Final Examination, in 40 Embedded

written form using questions
application oriented (10) (20) (10)
questions

Sessions Topics Chapter /article reference Cases / remarks

Pre-reads/ Articles/ Chapters
1 Real Estate Definition Essential Reading:
& Scope The Real Estate Business
Stephen R. Mettling, & Cusic,
D. Principles of real estate practice.
Class discussion on
 Real Estate Development
 Classification of Real
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Sessions Topics Chapter /article reference Cases / remarks
Pre-reads/ Articles/ Chapters
Performance Programs Company, Estate with focus on
2015 Residential, Commercial
and Mixed use
developments
 Components of
immovable property, land
and buildings, records
pertaining to both ;
Factors affecting real
estate development; Role
of Government in real
estate market

Essential Reading: Class Discussion on:

Concerned, Yet Positive Real  Effect of COVID 19 on
Estate Consumer Sentiment various asset classes in
Survey (April – May 2020)
Housing Research & KPMG the sector.
 Perception vs realty
Asynch Component:
NAREDCO’s Webinar Recording:
COVID 19 - Impact and Way
COVID 19 and the Forward Real Estate & Housing
Sector18th April 2020
2 Impact on Real Estate
Speakers: Shri Hardeep Singh Puri,
& Housing Minister, Housing & Urban Affairs,
GoI
Shri Durga Shanker Mishra,
Secretary, Housing and Urban
Affairs, GoI
Shri Shivdas Meena, Addl
Secretary, Housing & Urban Affairs,
GoI
https://www.youtube.com/watch?
v=DFn5uiYpuvg

Essential Reading: Class Activity:

Introduction to Real Estate The students discuss and
Real Estate Development Process; Miles, M. E., identify what are the
3 & Laurence, M. Netherton, and
Development Process Adrienne Schmitz. Real Estate
processes in a real estate
Development: Principles and development
Process, 2015

Essential Reading: Class Discussion on:

Introduction to Real Estate Critical elements of a real
Real Estate Development Process; Miles, M. E., estate development process
4 & Laurence, M. Netherton, and
Development Process Adrienne Schmitz. Real Estate
Development: Principles and
Process, 2015

5 Site Evaluation and Async Component: Class Discussion on:

Land Procurement Students search details Technical, Market and

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Sessions Topics Chapter /article reference
Pre-reads/ Articles/ Chapters
available for the of the
following two projects
Case 1: Kalpataru Immensa,
Thane Mumbai;
Case 2: BKC Land acquisition
by Sumitomo
Essential Reading:
Real Estate Finance: Back ground;
Real Estate Finance: The basic
6 Financing Basics tools; Miles, M. E., & Laurence, M.
Netherton, and Adrienne
Schmitz. Real Estate Development:
Principles and Process, 2015
Essential Reading:
Transactions in the Real
Regulatory norms for Estate Sector, CII PWC Report
7
Financing 2017
Asynch Component:
NAREDCO’s Webinar Recording:
Capital Availability Challenges for
Real Estate Developers to survive in
8 Financial Feasibility COVID 19 pandemic By Mr. S
Sriniwasan Managing Director,
Kotak Investment Advisors Ltd
https://www.youtube.com/watch
?v=qSHbDkNRYoI
Project Planning and
Scheduling,
9
Construction and
Management
Marketing and Sales in Essential Reference:
Real Estate Marketing Material for
Luxury Project, affordable
Luxury Project and Affordable
Housing Project, Commercial
Project, Co-living Space
10 & 11 Project
12 Functions of real estate Essential Reading:
projects, risk Wofford, L., Troilo, M., &
Cases / remarks
Commercial Feasibility
Class Discussion on:
Methods of raising land and
construction finance
Class Discussion on:
Evergreening of Real Estate
Finance in India
Class Activity:
Hands on Exercise of
developing a Static Cash
Model for checking Financial
Feasibility
Class Discussion on
 Project Planning, Phasing
 Development
management models
Class Discussion on
 Project Positioning
 Pricing Decisions
 Collection Schedules
 Marketing Sales and
Leasing
Class Activity:
Each group simulates a basic
pitch of one of the
categories properties.
And then the class discusses
on the differences
Class Discussion on
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Sessions Topics Chapter /article reference Cases / remarks
Pre-reads/ Articles/ Chapters
management, facilities Dorchester, A. (2010). Managing  Stakeholder Management
management, cognitive risk in real estate. Journal of different functional
of Property Research, 27(3), 269–
Environmental issues 287. areas in a RE Project
related to Real Estate

Role, scope, working

characteristics and
13 principal functions of Guest Session
real estate participants
and stakeholders

Class Discussions on
 Project Closure
Requirements from
Construction, Operations,
Project Closure and Marketing teams.
14
Ethics in Real Estate  Financial and Regulatory
requirements for project
closure.
 Ethical issues in Real
Estate

Pre Class Essential Activity: Class Activity:

Real Estate Consultants Students browse through the Groups work on
15
and Role of IPCs websites of atleast 4 IPCs and understanding the various
list down their verticals functions of IPCs
Essential Reading: Class Discussions on :
Stephen R.. Mettling, & Cusic,  Different types of
D. Principles of real estate practice. agreements in a RE
Agreements and Performance Programs Company,
16 Project
Contracts in Real Estate 2015
Pg: 50-92  Nuances of Termsheets
 Nuances of contracts
 Must haves of Contracts
17 &18 RERA Essential Reading: Class Discussions on:
Real Estate (Regulation and Nuances on RERA
Development) Act, 2016 Understanding norms and
declarations under MahaRERA:
Asynch Component: https://maharera.mahaonline.gov.
NAREDCO Video: Impact in
of COVID 19 RERA
Implications25th April 2020 Class Activity:
Speakers Students analyse a project’s
Shri Rajive Kumar, Chairman, situation basis declarations
Uttar Pradesh RERA made by a developer on
Shri Anthony De Sa,
Chairman, Madhya Pradesh
RERA
RERA
Dr. Amarjit Singh Chairman,
Gujarat RERA
Shri KK Khandelwal,
Chairman, Haryana RERA

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 Sessions Topics Chapter /article reference Cases / remarks
Pre-reads/ Articles/ Chapters
Justice B. Rajendran
Chairperson, Tamil Nadu Real
Estate Appellate Tribunal
https://www.youtube.com/watch?
v=IdaIA6WYE-Y

Essential Reading: Class Discussion on:

GST in Real Estate and  Impact of GST – Real  Nuances of taxation post
19 Other Regulatory Estate; PWC report, 2018 COVID
NORMS  Impact of GST on
Residential Markets, PWC
JLL Report 2018
Group Project Student group assignment Crisp and original report with
Presentation sharp presentation in the
20 Prepare an Information class
Memorandum for a
project of your choice.
Reading List Reference texts:
and  Stephen R.. Mettling, & Cusic, D. Principles of real estate practice. Performance
References Programs Company, 2015
 Miles, M. E., & Laurence, M. Netherton, and Adrienne Schmitz. Real Estate
Development: Principles and Process, 2015
 Gerald R Cortesi (2001), “Mastering Real Estate Principles”; Dearborn Trade
Publishing, New York, U.S.A.
 Fillmore W Galaty (2002), “Modern Real Estate Practice”; Dearborn Trade Publishing,
New York, U.S.A
 Tanya Davis (2007), “Real estate developer’s Handbook”, Atlantic
PublishingCompany, Ocala, USA.
 Richard B Peiser& Anne B. Frej, “Professional real estate development” ,The ULI
guide to the business – (2003), Urban Land Institute U.S..

Prepared by Faculty Team Recommended by Recommended by

Area Chairperson Program Chairperson

Approved by Faculty Approved by Approved by Dean SBM

Chair AOL Associate Deans

Rubrics for Group Project Evaluation:

Exemplary Satisfactory Unsatisfactory

(8-10) (5-7) (1-4)
Composition The IM was well The IM was organized The IM lacked overall
organized and and clearly written for organization. The reader
clearly written. The the most part. In some had to make
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 underlying logic was areas the logic and/or considerable effort to
clearly articulated flow of ideas were understand the
and easy to follow. difficult to follow. underlying logic
Content The IM analyzed The IM analyzed and The IM vaguely analyzed
and articulated the articulated the linkages and articulated the
linkages of all of all functional units linkages of all functional
functional units required for the units required for the
required for the development of a RE development of a RE
development of a Project satisfactorily Project
RE Project
exceptionally well
Student is able to Student is able to Student vaguely
Identification and identify, analyze identify, analyze and identifies, analyses and
Analysis of the and explain the explain the critical explain the critical
Critical nuances of critical nuances/USP of the nuances/USP of the
the project nuances/USP of the project satisfactorily project
project exceptionally
well
Student is able to Student is able to Student is unable to
accurately answer satisfactorily answer answer questions posed
Comprehension almost all questions questions posed by the by the instructor &
posed by the instructor & classmates classmates about the IM
instructor & about the IM
classmates about
the IM

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