₹100, one time
SkillArbitrage
Independent Director
REAL ESTATE PROFESSIONALS WITH 15+ YEARS
SA
SkillArbitrage
Independent Director Community

A real estate professional’s next moves, ranked on a matrix

A matrix ranking a real estate professional's next moves. A director's duties, clearing the IICA test, your property experience and reading a board pack sit in the top-right corner, marked 21 days, Rs 100.

The top-right corner shows four things that get your real estate experience ready for a board. The 21 days teach all four.

Your real estate years count on a board. Get board-ready in 21 days.

In 21 days you learn a director’s duties, prepare for the IICA test, write up your property experience for a board, and learn to read a board pack. ₹100, refund anytime.

We show you how board seats are actually filled, and get you ready for the IICA exam, in 21 days.

₹100, one time. 21 days, live sessions on Zoom.

Refund anytime, no questions asked.

IICA exam prep included · Refund anytime, no questions asked

What you get for the 21 days

Everything below is included. Nothing else to buy from us. The IICA databank has its own fee of ₹5,900 a year.

SEBI rules and a director's duties
The duties, the liabilities and the committee work.
The IICA exam, demystified
What is on it, how it is set, and how to prepare without treating it like a law degree.
How board seats are actually filled
Most seats are filled through people the board knows, or through search firms.
Live sessions on Zoom
Built for people who are still working.
Refund anytime, no questions asked
Ask for your money back at any time. We won't ask why.

What the 21 days cover

Every session is live on Zoom with practitioner faculty. Here is what the 21 days cover.

Part 1
Foundations: the role and the law
  • The independent director's role, and why boards need you
  • Companies Act 2013: duties, liabilities and protections
  • SEBI LODR essentials every board expects
Part 2
The IICA exam: clear the qualification
  • The IICA self assessment syllabus, decoded
  • Mock test and a walkthrough of the tricky areas
  • Exam strategy and a final readiness check
Part 3
Databank and profile: get found by committees
  • Getting on the IICA databank
  • Building a board-ready profile from your experience
  • Positioning your domain expertise and your independence
Part 4
Boardroom practice: walk in like a director
  • Live board pack review, read it like a director
  • How nomination committees actually shortlist
  • Mock board interview, and your plan for what comes next

What you walk out with

IICA exam readiness, with a mock test behind you.
A board-ready profile built from the experience you already have.
Your plan for the IICA databank.
A mock board interview, done.

The top-right corner: what the 21 days teach

The four skills from the matrix, and the part of the course that teaches each one.

A director's dutiesPart 1
What the law asks of an independent director, and the protections it gives you when you do the job with care.
Clearing the IICA testPart 2
Learn what the test covers and take mock tests until you are ready. You need 50% to pass.
Your property experiencePart 3
Write up your years in land, leasing, projects or property finance so a board can see what you bring.
Reading a board packPart 4
Read the agenda and notes the way a director does, in a live board pack review.

Four numbers to know

Real estate companies and trusts need independent directors too.

Half
of every REIT manager’s board, at least, must be independent. The board needs at least 6 directors.
Source: SEBI REIT Regulations, as amended to 18 Apr 2026
6
REITs are listed in India. They paid ₹3,136 crore to over 4.85 lakh unitholders in one quarter of 2026.
Source: Free Press Journal, 17 Aug 2026
10
listed real estate companies are in the Nifty Realty index. At least one-third of each board must be independent.
Source: Nifty Realty factsheet, Companies Act s.149 and Rule 5
1.5 lakh+
real estate projects were registered under RERA by September 2025. Their money rules come up in a developer’s board papers.
Source: PIB, 4 Sep 2025

From real estate to the boardroom, step by step

Here is the route, and where Parts 1 to 4 of the course fit in.

Part 1
Know a director's duties
Every director must act in good faith, with care, skill and independent judgment. An independent director also attends meetings, asks for clarification, and raises concerns.
Source: Companies Act s.166, Companies Act Schedule IV
Part 2
Clear the IICA test
You join the databank first. Then you have 2 years to pass the test, unless you are exempt. You need 50% to pass, and there is no limit on attempts.
Source: IICA databank, 29 Oct 2026
Part 3
Write up your property experience
The law accepts experience in many fields, “or other disciplines related to the company’s business”. For a developer or a REIT, real estate is the business. Listed companies also publish the skills their board needs for their sector.
Source: Companies Act s.149 and Rule 5, SEBI LODR Schedule V
Part 4
Read a board pack
Directors get the agenda and notes at least 7 days before a meeting. A REIT manager’s board reviews budgets, quarterly results, legal notices, joint venture deals and big asset sales.
Source: ICSI Secretarial Standard 1, SEBI REIT Regulations, as amended to 18 Apr 2026
Later
Where your experience fits
REIT managers must keep at least half their boards independent. Infrastructure trusts (InvITs) follow the same rule, which matters if you come from construction. Listed developers must keep at least one-third. Most seats are filled through people the board knows, or through search firms.
Source: SEBI REIT Regulations, as amended to 18 Apr 2026, SEBI InvIT Regulations, as amended Jul 2026, Companies Act s.149 and Rule 5, Egon Zehnder, 2023

These are general steps, not advice on any one appointment.

8 wrong beliefs about real estate and boards

Real estate professionals often believe these. Here is what the rules say.

Myth 01
"Real estate people don't sit on boards."
The truth: Every REIT manager must keep at least half its board independent. Listed real estate companies must keep at least one-third.
Source: SEBI REIT Regulations, as amended to 18 Apr 2026, Companies Act s.149 and Rule 5
Myth 02
"A REIT is just a fund. It has no board."
The truth: A REIT is run by a manager company. Its board has at least 6 directors, half of them independent, and at least one woman independent director.
Source: SEBI REIT Regulations, as amended to 18 Apr 2026
Myth 03
"My experience is too narrow for a board."
The truth: The law accepts “other disciplines related to the company’s business”. For a realty company or a REIT, real estate is the business.
Source: Companies Act s.149 and Rule 5, SEBI LODR Schedule V
Myth 04
"You need to be a CA to sit on a realty board."
The truth: No. The rules ask for relevant expertise and experience, not a degree. Being a CA helps in one way only: a CA with 10 years in practice skips the IICA test.
Source: Companies Act s.149 and Rule 5, SEBI REIT Regulations, as amended to 18 Apr 2026
Myth 05
"Board seats are advertised like jobs."
The truth: “It is often known networks that are tapped into for Board roles.” The nomination committee writes down the skills it needs first.
Source: Egon Zehnder, 2023, SEBI LODR reg 19, Schedule II
Myth 06
"I must quit my job first."
The truth: No. The Companies Act asks that you have not worked for that company or its group in the last 3 years. You can keep a job at an unrelated company. Check your own contract.
Source: Companies Act s.149 and Rule 5, Mint, 18 Sep 2025
Myth 07
"Once I join the databank, a company will call me."
The truth: The databank is a list that companies search. You still need to show a board why you fit.
Source: IICA databank, 29 Oct 2026
Myth 08
"The IICA test is too hard after 20 years away from exams."
The truth: You need 50% to pass, there is no limit on attempts, and the mock test is open as many times as you like.
Source: IICA databank, 29 Oct 2026

What the seat is worth

Up to ₹1 lakh
the most a company can pay you as a sitting fee for one board meeting.
One-third
is the least share of a listed company’s board that must be independent.
A few meetings a year
the law asks for at least 4. Committee meetings and the reading come on top.

The sitting fee is capped at ₹1 lakh a meeting. “Most other independent directors are underpaid, especially first-timers,” a former SEBI official told the Economic Times.Source: Economic Times, 22 Sep 2024

What happens once you pay

No waiting and no guesswork.

Right after payment
Your joining confirmation arrives on the email and phone number you used at checkout, with your invite to the member group.
Before day 1
You join the member group. The class schedule and the joining links are posted there, so you always know where to be.
Across the 21 days
Live sessions on Zoom, built for people who are still working. You can ask questions in the group between classes.
At the end
You finish with: IICA exam readiness, a board-ready profile, and your databank plan.

This is built for you if

You have 15 or more years in real estate: land, leasing, projects, construction, valuation or property finance.
You have never sat on a board.
You want your experience to count on a board.
You want to know how REIT and developer boards pick directors.

The practical details

Price: ₹100, one time. 21 days, live sessions on Zoom.
Format: Independent Director Community · ₹100
Included: IICA exam prep included · Refund anytime, no questions asked
Refund: Refund anytime, no questions asked.
Run by SkillArbitrage, a Recognised NSDC Training Partner.

Questions people ask first

Does my real estate experience count?
The law accepts experience in many fields, “or other disciplines related to the company’s business”. For a developer or a REIT, that business is real estate. You still pass the IICA test, unless you are exempt, and meet the independence rules.
Do I have to sit the IICA exam?
To stay on the databank, yes, unless you are exempt. You have 2 years after joining to pass, and can pay for one more year. The 21 days prepare you for it and the prep is included.
I have never been on a board. Is that a problem?
No. The 21 days are built for people who have never sat on a board, and they start from the role itself.
How much time does a board seat take?
A board must meet at least 4 times a year, and you can join by video. Committee meetings and the reading come on top.
Can I get a refund?
Yes, anytime, no questions asked.
Will you try to sell me something bigger?
Yes, and here is the honest version. We invest in giving you a great deal of value in these few weeks precisely because we want you to see what we can deliver in a short time. If you finish and you are excited about our larger programmes, that is the whole point, and we would rather earn that than surprise you with it. So we go all in on what is in front of you now. Nothing here is held back until you buy something else, buying anything else is never required, and the refund stands either way.
Who runs it?
Run by SkillArbitrage, a Recognised NSDC Training Partner. Sessions are run live on Zoom by practitioner faculty.

Your real estate years count on a board. Get board-ready in 21 days.

In 21 days you learn a director’s duties, prepare for the IICA test, write up your property experience for a board, and learn to read a board pack. ₹100, refund anytime.

₹100, one time. 21 days, live sessions on Zoom.

Refund anytime, no questions asked.

₹100, one time. 21 days, live on Zoom.