According to sources from the real estate industry, the boom is giving way to a concern, lack for professionals with the relevant skill sets. Posts of senior level executives and those for project execution, management and analysis are lying vacant due to shortage of manpower with requisite skills.

To develop manpower with industry specific skills, Promoters and Builders Association of Pune (PBAP) has set up the Real Estate Academy for Developers (READ). The academy is in operation since 2007 and has entrants from other sectors like auto sector, manufacturing and retail. IIT and IIM professionals have also shown keen interest in this.

Since its inception, the institute, READ has trained 1,020 professionals and is expected to train another 1,500 students by the end of 2008. The institute also has collaborations in UAE and East Africa for conducting training programs.