The Indian School of Business (ISB) has signed a memorandum of understanding (MoU) with Hyderabad-based infrastructure development company Indu Projects. The MOU is to establish a research chair for real estate and urban studies wherein Indu Projects is making a five-year grant of about Rs 2.5 crore.The motive behind sponsoring a research chair was to ensure that there is availability of authentic information on real estate and urban studies in the market, Syam Prasad Reddy, CEO of Indu Projects, said after giving the first tranche of Rs 49.5 lakh to ISB today. 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." V Chandrasekar, executive director, Wadhwani Centre for Entrepreneurial Development said: "very little data is available on the real estate industry today and a lot of people are keen on transacting in this area. In future, therefore, we are looking at arriving at some indices on factors like cost of construction, local by-laws, real estate prices, etc."
