CHAPTER : THREE

SECONDARY DATA

Marketing Mix Of Real Estate Developers

Product Mix — Secondary Data

Price Mix — Secondary Data

Place Mix — Secondary Data

Promotion Mix - — Secondary Data

3.2 Summary From Study Of Consumer Complaints

Profile Of Select Real Estate Developers

CREDAI — PUNE (Builders Association of Pune)

96
CHAPTER THREE: - (SECONDARY DATA, PROFILES OF THE
REAL ESTATE DEVELOPERS, OBSERVATIONS ABOUT THE
MARKETING STRATEGIES OF REAL ESTATE DEVELOPERS)

The researcher has collected qualitative and quantitative data to study the Real
Estate Industry in Pune and have an insight into marketing strategies of Real
Estate Developers and level of customer satisfaction. The secondary data was
collected with the help of newspaper articles, real estate magazines, real estate
reports, brochures, real estate portals, Exhibifion reports and websites.

3.1 MARKETING MIX OF REAL ESTATE DEVELOPERS:

To understand the Product mix of Real Estate developers of Pune, the
researcher studied various Real Estate Reports, brochures and consumer blogs.

3.1.1 PRODUCT MIX — SECONDARY DATA

Real Estate reports published by Research Companies, CREDAI and Real
Estate Consultancy Firms were studied to understand the product mix of the
Real Estate Developers and Consumer preference. The summary of the
findings is as follows:

SUMMARY FROM REAL ESTATE REPORTS:

As per the report on “Pune residential Real estate overview” published by
ICICI Property Services, Major IT companies delivered increases in net profits
during the March 2007-2009 period in the range of 38-66%.

97
Increased profits converted into increased bonuses to the IT professionals and
this lead to a sudden increase in their purchasing power, thereby translating into
increased demand for real estate.

Few large developers with a pan-India presence dominate the market.

Operating model has shifted from sales to lease and maintenance. By 2023,
commercial space is expected to reach at 50 msf mainly driven by sectors - IT-
BPO, pharma, engineering and manufacturing. Rapid growth in service
sectors: IT/BPM, BFSI and Telecom. Rising demand from MNCs. Demand
for office space in tier II cities. In 2019, the demand for office sector with
commercial leasing activity reached 69.4 msf.  Business activity is shifting
from CBDs to SBDs and tier I to tier II cities.  Co-working space across top
seven cities reached 12 msf by end of 2019. In H12020, Mumbai experienced
a substantial growth 36% in demand from consulting firms over total office
space leasing.  Improved infrastructure, new airport terminal and upcoming
airport in Navi Mumbai is expected to drive hotel industry’s growth.(IBEF,
2020)

As per the report of night frank india The suburban business districts (SBD) -
SBD West and SBD Central combined garnered 60% share of the transactions
in H2 2018 and their shares were 32% and 28%, respectively.(Knigh Frank,
2018)

As per report of Knight Frank India, real estate is a consumer product

requiring high involvement and resulting in pride in the purchase. When
developers provide luxurious amenities, partnering with international
architects to design their projects, it certainly has an impact on the product.
Consumers also benefit as they are assured about quality and exclusivity. These
high-end products are differentiated since they are for a select audience.2

The Pune's boundaries are growing in all directions. Adding another totally
new dimension to the city is the rush of integrated townships into Pune. The
city is ready to reap a rich harvest for those having the capacity to invest and
98
 develop large tracts of land and put in the physical and social infrastructure.3

Amit ramani the founder and CEO of Awfis in an interview on sep 2021 with times of india puts light on
the Automated Future of commercial real estate : Digitalization of CRE

As building owners work to understand and respond to emerging behavioral patterns of customers and create
safe spaces, prop tech has taken a front seat in their business decisions. Developers & coworking operators are
now realigning their space designs to accommodate touchless access, automated attendance, voice-controlled
features to avoid maximum surface contact and ensure maximum safety of employees.

Furthermore, AI is set to become a major tool in commercial real estate as companies can evaluate property
valuation, type, carpet area, location and other parameters. With AI & Cloud-based technologies, it is easier for
workspace operators to keep a tab on various tenant profiles, tenant application, inspection requests, etc. to
streamline the leasing & other processes.

According to the Retail Report 2018 by the India Brand Equity Foundation (IBEF), the Indian retail industry
is one of the fastest growing ones in the world. The report, produced by a trust established by the Ministry of
Commerce and Industry states, “retail industry in India is expected to grow from US$ 672 billion in 2017 to
US$ 1,200 billion by 2021.” That is nearly double in four years. The retail boom is bringing premium brands
and spaces to smaller cities. “Healthy economic growth, changing demographic profile, increasing
disposable income, urbanisation, changing consumer tastes and preferences are the factors driving growth in
the organised retail market in India,” says the IBEF report. Add to this the ample space available in smaller
cities. The fact that many of them are seeing an influx of migrants coming to work in IT parks and other new
businesses, and the internet bringing big-city ideas to small-town screens, and the change seems inevitable.
(IBEF, 2018)

Investors and real-estate developers are tapping smaller towns for low rentals and better spaces.
As per data by the real-estate consultancy Anarock, nearly 17 million sqft of new mall space is
expected to come up in tier 2 and 3 cities by 2021. 

OBSERVATIONS:
1. Increase in Purchasing power has increased demand for real estate.
2. The trend has changed towards digitalized and well-structured offices.
3. There has been emergence of the tier II and tier III cities concept having
99
better product mix and infrastructure.

100
 SUMMARY FROM BROCHURES
The researcher collected brochures of big and small real estate developers. The
study of brochures of 100 Real Estate commecial Projects, rejected that on the
brochures, the amenities specified were as follows-

Basic Amenities: Water Supply, Over Head Water Tank, Power Supply, Sewage
Treatment Plant, Asphalted & Wide Roads with trees, 24 hours Security, etc.
All small developers give these basic amenities with their products. Amenties:
Multipurpose Hall, Power Back-up, Lifts, Wi-fi connectivity, Car Parking,
Cafeteria, Water Storage, Maintenance Staff, Security Personnel, CCTV
 Special Amenities: Fire fighting Underground and overhead tank for fire fighting purposes according
to CFO norms. Provision for sprinklers at all the floors as per CFO normsLift with generator back up,
TV and telephone points in all rooms, split A/C, vitrified flooring, hot and cold mixers in all fresh
rooms, powder coated aluminum sliding windows with mosquito-mesh, wet garbage treatment
plants, good quality lift, rain water harvesting, garbage chute, , garden, Video door phone for each flat,
Magnetic door sensor for Main door, fire safety, smoke detectors and a full-fledged DG power
backup. Diesel Generator (DG) Sets are must-have sources of energy in case of an emergency. LPG
leakage detector, Intercom facility for security cabin to all flats, Smoke Detector and a Digital Video
Recorder system for main gate & building entrance, etc. The special amenities are given only by
select big developers.

OBSERVATIONS FROM BROCHURES

1. Small developers provide basic amenities.
2. Big developers provide special amenities and wide range of
facilities.

101
SUMMARY FROM BLOGS AND REAL ESTATE PORTALS:
The researcher studied various blogs such as www.mouthshut com,
http://www.dskd1.com/site/blogs, etc. The objective was to study the
perception of customers towards marketing strategies of the Real Estate
Developers and the level of satisfaction. The extracts from the blog have not
been edited for grammar to retain its originality and therefore may contain
grammatical errors. The extracts of the blogs are as follows:
Pune developers: Ushering in the new generation
The infusion of youthful talent into the real estate business has lead the older
generations of builders learn to change with the times when it comes to the
designing of homes, to market their products to the right customer segment
and to bring better efficiency to overall business operations. Pune City now
has sleeker, more efficient designs, better consmiction techniques and the
introduction of green and smart homes.
These homes are designed and built for a younger, more aware

generation of Customers. 4

InvestlnNest
I.ux try i n a i a n i-lorries

Pune real es la te rziarke t Is now• gro•v1ng rap ldty as

per growing ct'ie derziands for rea( esta ie proper
ties. Pune Is noteworthy place for buying or seUing
properties wtth grea I peak t¥s. hence Pune Is coming
ahead In €he rea(ty sector. Wt€h the gros•fng presence
of I T s.e<tor In Pune. a targe segment of dweM Icsg
buyers have en tere¢f a h)g he r Seve( of
af fordab tlttv and hence tastes i+s houses. Accord Ing
to thee real es tate exper €s, Pune Is
growv)ng rapidly' M the cur re m I trends In pre tzy and
emerald €so rries . •vh tch can gty e a chance to en)ay
102
ftse re at charrzi o I modern tile. now. gro•^•+rug O+e
culMre or ttvlng In a bsxury apartzrsent can give a
life full of exe tternent and enjoyment. Thus, Pune
has been selected a preferred pLace by the res tdence
&uyers nov•acfays .

103
MIVAN TECHNOLOGY
Use of advanced technology has enabled the Indian construction and infrastructure industries to
not only take up previously unthinkable projects but also have allowed it to complete projects
faster and with lesser costs as well as better quality. Most of the innovative technologies that
the Indian industry is adopting are new in the sense that they have come to India only recently.

Incidentally, many of these technologies have been tried and tested by other industries in many parts
of the world. For example, the Megapolis project near Pune by Pegasus Properties Pvt Ltd has used
the Mivan System. Mivan System is a patented technology from Malaysia and has been or is being
used for various projects in the UK, USA, Germany, Thailand and of course in India.5

Langston a class apart project by Kolte Patil

By: ajaynath689
Hi people I read a lot of queries regarding kolte patil as a builder and regarding their projects. so I
thought of writing a small review on them. I have recently brought a 2 bhk apartment in one of their
projects called langston in khardi. I really liked this project because it is very close to my work place
and this project has many amenities which makes my life much easier as i remain very busy
throughout the week. langston is a good residential project because it is not too highly priced
neither is it in a very crowded residential area. One gets the much needed peace of mind that one
needs and with the comforts provided by them makes an already hectic life little less hectic. I did
not face any problems from the

104
builders and got the possession on time. I am pretty happy with my
decision of picking a home with this particular builder.6

Amanora park Town impressive mini world within

By: pranazm
Hey guys, yesterday I happened to be in Amanora park town visiting a friend. I was totally impressed
by the architecture and by the whole township looked like a mini world in itself. The whole
township is so well planned. Houses are well separated in such a way that each house has its own
privacy yet is well connected to the whole township. Well paved roads, planned junctions and a
number of high end retail shops all make you feel like staying just in the campus. Common areas
were another feature that attracted me. The areas are well planned and are a great place for the
residents to bond. There is a little something for everyone in this township. Though I felt the
prices were a bit high as compared to other projects, but with quality and security of life
provided here, it is worth living here.7

Properties in Pune Match the Lifestyle Quotient of Residents

As the city’s skyline got dotted with commercial complexes, malls, multiplexes, high end
luxury dats in Pune found berth in up market localities like Koregaon Park, Kalyani Nagar,
Viman Nagar, Aundh, Baner and so on. Malls are typically located around IT parks and so are large
residential complexes with apartments offering ultra-modern amenities. Thus Nourished the real
estate sector, be it commercial or residential properties in Pune. Moreover, Indian Realty sector
has survived the recession and is said to be likely to grow @ 8.5 % in the

105
current fiscal cycle. This in turn motivates real estate developers to
further increase their activities particularly in tier II cities like Pune. The most
popular configurations of flats in Pune are 2 and 3 BHK variants with state-of-
the-art internal features and amenities that include conveniences and comforts
tending to luxury like gymnasium, swimming pool, sports facilities, club house for
recreation and family get-togethers.'

Mr. Anil Pharande, in his article on “Why don't developers of large-

format residential property schemes cash in on the demand for more ordinary dats in Pune?”
published on moneycontrol.com highlighted the arguments in favor of smaller projects
launched by Small developers. 9 The arguments in favor of small projects are as follows:
• The developer's construction costs for smaller residential
property developments are much lower.
• They require a lot less land, and can be consmicted in central areas where demand is
high.
• They can benefit from whatever infrastructure akeady exists in the locality, so there's
no need to put in much more.
• They can be constructed much faster and also sell much faster to a ready clientele who
are looking for dats for sale in Pune.

OBSERVATIONS FROM BLOGS AND PORTALS

1. The Customers share their views about Real Estate Developers on
blogs.
2. The Product mix of real estate developers is changing.

106
 3. Special amenities are provided by big developers whereas small
developers provide basic amenities.
4. The Customers expectations from real estate Projects are
increasing.
5. The product is becoming more innovative and the amenities
provided by developers are increasing.
6. The youthful new developers are using latest designs and latest
marketing strategies.
7. The supply for green and smart homes is increasing.
8. The small developers make smaller projects with simple
standardized products taking benefit of local infrastructure.

CONCLUSIONS FOR PRODUCT MIX:

1. Big developers construct high-end products and differentiate the
products since they are for a select market and this also helps in brand
building.
2. Big developers are building townships.
3. The small developers make simple projects with simple standardized
products making use of local infrastnicture.
4. The amenities provided by big developers are different from the
amenities provided by small developers. Small developers provide
basic amenities. Big developers provide special amenities.
5. The product designs, consmiction techniques and marketing strategies
are improving.
6. Customers’ aspirations are increasing.

107
 7. Increased household incomes have made investments in real estate
an attractive proposition.
8. Developers are constructing Smart and environment- friendly
homes.
9. The product mix is less distinctive within the small developers.
Whereas the big developers differentiated their products.
10. The product is becoming more and more sophisticated due to use of
latest construction techniques.
11. The Customers have become more vocal and express their views
about Real Estate Developers through various blogs.

3.1.2 PRICE MIX — SECONDARY DATA

The researcher tried to understand the Price Mix of the Real Estate Developers
through an in-depth study of Real Estate reports and Real Estate Portals. The
summary of the fmdings is as follows:

SUMMARY FROM REAL ESTATE REPORTS:

The researcher tried to understand the Price Mix of the Real Estate Developers
through in-depth study of Real Estate reports published by Research
Companies like JLLM, Knightfrank, CBRE, Cushman & Weikfield and Real
Estate Consultancy Firms such as EY-FICCI, Government agencies such as
National Housing Bank. The summary of the fmdings is as follows:

a. The Indian economy went through a recessionary phase in 2008 and

later on in an inflationary phase.

10S
b. The Inflationary environment led to increase in input costs (e.g., for steel and cement) for
developers, which put pressure on the cost of projects and piofit margins. The rising home
loan rates and the steep price rise of properties dampened demand for residential units
during this period and developers were forced to do some price correction during this
period. But the revival in 2009 showed that the long-term view for the Indian real estale
industry is positive because its fundamental demand drivers are increasing urbanization,
favorable demographics, growth of the services sector and rising incomes remaining intact.'
0

C. Big Developers derive numerous advantages from the big brand

name. In the Competition, the small developers build an image that stands for good
quality at competitive rates to survive. Initially such developers offer lower rates on
their first projects rather than losing customers. Some small developers agree to payment
terms that are more oriented to the customer’s convenience unlike big builders. I '
d. A developing nation like India has to focus more on housing
sector to cater to the housing needs of burgeoning population and to accelerate the
economic growth. The housing sector has been globally used as an engine to propel the
economic growth as it is generates employment and demand in the market. The decade of
2000- 2010 has seen the authorities according significant focus on the housing sector in
India. The government of India has been trying to nurture and strengthen the housing sector
through various fiscal and legislative measures.

106
 e. The incentives given through fiscal and monetary policies in tandem
with conducive economic environment in India are providing boost to
housing sector. South bound interest rates reduced CRR, low NPAs in
housing finance sector and slowdown in growth of other sectors of
economy have made the housing sector more attractive. In order to
attract the customers further, the financial institutions have liberalized
the lending norms, reduced the rates of interest, increased the period of
loan, eased the collateral requirement etc.12

OBSERVATIONS FROM REAL ESTATE REPORTS:

1. Price mix of big developers is different from small
developers.
2. The big developers get advantage of their brand image.
The economic conditions influence the demand and the pricing strategy of the
real estate developers.
4.
Inflation leads to decrease in demand for real estate.The Government of India is
nurturing and strengthening the housing sector through various fiscal and
legislative measures.
5.
The financial institutions have liberalized the lending norms, reduced the rates of
interest, increased the period of loan and eased the collateral requirement etc to boast
Real Estate Sector.

107
f. Residential Property Rates in Prime Residential Market of Pune
during the period 2005-2009

Table (3-1) Residential Property Rates in Prime Residential Markets of

Pune during 2005-2009
Location Capital Vahie ANALYSIS
(Rs./Sq. Ft.)

% Increase in
Price of 2009
over 2005

Year 2A5 2007 20D9

NORTH PUNE
Kalyani Nagar 3500 5000 6500 85.71
Kharadi 2000 2800 3800
Vishrantwadi 2000 2700 3700 85.00

SOUTH PUNE
Sinhagad Road 2900 3500 4000 37.93
Prabhat Road 6500 8000 9800 50.77
Kothrud 5000 5500 5800 i6.oo
Bavdhan 2500 3200 3800 52.00
Dhayari 1500 2700 3200 113.33

EAST PUNE
Kondhwa NIBM 2700 3300 3700
37.04
Road

NIBM Road 2600 3200 3600 38.46

108
 Hadapsar 2500 3000 3800 52.00
Katraj 2200 2700 3000 36.36
Wanowrie 2700 3200 3750 38.89

WEST PUNE
Pashan 2500 3200 4200 68.00
Baner 3500 4000 4800 37.14
Balewadi 2500 3200 3700 .
Aundh 3800 4500 5250 38.16
Pimple Saudagar 2000 2900 3400 70.00
Wakad 2200 3000 3700 68.18
Chinchwad 1800 2800 3400 88.89

13

• Rates mentioned above are based on built up area & are subject to
amenities, upkeep & vary from apartment to apartment within the
same building.

OBSERVATIONS:
1. The increase in price is not uniform throughout the various areas of
Pune.
2. The rates have increased less for central Pune contrary to popular
belief.

SUMMARY FROM REAL ESTATE PORTALS:

The researcher surfed various real estate portals such as Groffr.com, SnapGhar.com to
study buyer behavior.

109
OBSERVATIONS:
1. Modelled on successful group-buying websites such as Groupon.com, some
websites like GrOffr.com and SnapGhar.com are offering a platform for buyers to
come together and get better deals through collective bargaining. Property deals are
listed on these websites where buyers can express their interest in the offer. If the deal
manages to attract the minimum number of buyers, the properties are offered at the
discounted rates.
2. The property rates in North Pune have appreciated highest, followed by West Pune, South
Pune and East Pune.
3. Home buyers are realizing the power of collective bargaining. They are coming
together on common platforms to have better leverage, whether it is in buying properties or
putting pressure on developers.

CONCLUSIONS FOR PRICE MIX:

1. Small Developers pricing strategies are different from big
developers.
2. Big developers follow skimming strategy while the small
developers follow penetration strategy for selling their products.
3. The price mix of real estate developers’ change with changes in
economic environment.
4. The property rates show an increasing trend from the year 2005.
5. Customers are using new trend of group buying and use web- portals
to select properties.

110
 6. Government of India has provided fiscal, monetary and other
stimulants, including legislative measures.
7. Liberalized lending norms, reduced rate of interest, increased loan
maturity period and softer collateral requirements by financial
institutions have been introduced to attract investment.

3.1.3 PLACE MIX — SECONDARY DATA

The place mix of Real Estate developers of Pune was studied though various
Real Estate Reports and Real Estate Portals.

SUMMARY FROM REAL ESTATE REPORTS:

The researcher tried to understand the Place Mix of the Real Estate Developers
through the study of Real Estate reports pubhshed by Research Companies,
CREDAI and Real Estate Consultancy Firms such as ICICI Property Services.
The summary of the findings is as follows:
a. Supply of Residential Units in Dec’ 2005 and in Dec’ 21111 Data" Table
(3-2): Supply of Residential Units in 2005 and 2011
Aver No. of Total Aver No. Total
age Units area age of area
area in ready area Units ready
of an 2005 by of an in by
Appt Dec Appt 2011 Dec
(Sq. ’05 (Sq. 11
Ft) (Mn. Ft) (Mn.
Sq.ft) Sq.ft)

11 l
North 1 / 1.5 641 235 0.15 641 713 0.46
BHK

2 / 2.5 1027 2100 2.16 1027 3312 3.4

BHK

3 BHK 1481 450 0.67 1481 1585 2.35

4 BHK / 2642 40 0.11 2642 145 0.38
RH/Bg1w

Total 2825 3.08 5755 6.59

South 1 / 1.5 600 480 0.29 600 1587 0.95
BHK

2 / 2.5 1034 890 0.92 1034 3155 3.26

BHK

3 BHK 1573 500 0.79 1573 1572 2.47

4 BHK 2652 70 0.19 2652 344 0.91
RH/Bglw 3004 50 0.15 3004 189 0.57

Total 1990 2.33 6847 8.17

East 1 / 1.5 647 225 0.15 647 703 0.45
BHK

2 / 2.5 1170 845 0.99 1170 2613 3.06

BHK

3 BHK 1678 470 0.79 1678 1752 2.94

4 BHK 3165 165 0.52 3165 612 1.94
RH/Bglw 3029 65 0.20 3029 254 0.77
Total 1770 2.64 5934 9.16
West 1/1.5 655 760 0.50 655 1255 0.82
BHK

112
 2 /2.5 1126 3200 3.60 1126 5049 5.69
BHK
3BHK 1527 980 1.50 1527 2021 3.09
4BHK 2494 185 0.46 2494 310 0.77
RH/Bg1w 4677 275 1.29 4677 744 3.48

Total 5400 7.35 9379 13.85

Centr 2 BHK 1036 3 0.00 1036 11 0.01
al

3BHK 1430 20 0.03 1430 60 0.09

4BHK/ 6161 20 0.12 6161 70 0.43
RH/Bglw

Total 43 0.15 141 0.53

Total Supply in Pune 12028 15.55 28056 38.30
(BHK = Bedroom, Hall, Kitchen) and bglow = Bungalow.
Source: ICICI Property Services, Pune Residential Real Estate Reviews.

Zone wise distribution of Supply in 2N5 & 2011

14
12
10
8 n
6
2f¥/5
4
D
2
0 2011
N‹rth South West East
Central

(Fig. 3.1): DISTRIBUTION OF SUPPLY in 2005 & 2011 (in ATea

Million Square Feet)
113
Analysis —
The supply of units in West Pune was highest with (5400 units) in 2005 and (9379
units) in 2011 respectively, followed by South Pune (1990 units) and (6847
units) respectively, East Pune (1770 units) and (5934 units), North Pune (2825
units) and (5755 units) respectively and least in Central Pune (43 units) and
(141 units).

SUMMARY FROM REAL ESTATE PORTALS:

The researcher tried to study the Place Mix of the Real Estate Developers by
visiting online Real Estate Portals such as magicbricks.com,
moneycontrol.com, bharatestates.com,
askfinancials.com, etc. The summary of the findings is as follows:
a. Property development in Pune was fast due to the increasing presence
of IT/ITES business. This evolution also brought with it an evolution in
the demographics of property buyers in Pune. The Information
Technology industry attracts and grooms ambitious, technologically-
inclined young adults who invariably end up drawing sizeable salaries.
More and more NextGen people could afford better housing options,
leading to increased demand for upscale residences in Pune.'°
b. Pune had a total of 635 STPI registered units (2006-07) with Cognizmt,
Convergys, KPIT, EXL, Msource as the major IT/ ITeS players, which
ranked Pune as 6th in India as the major established IT/ITeS hub. The
number has increased to 710 in 2009-2010. Pune city being privileged
in having better infrastructure facilities attracts investors from all over
the world. Although in the recent past all the manufacturing industries
have

114
 been shifted out of the PMC boundary, yet the number of IT/ITeS units is increasing.' 6
a. Small Real Estate Developers build projects at places where
Land is cheap i.e. in the outskirts of City. Such Projects are mainiy preferred by
lower and middle class buyers due to the affordable prices.'7
b Pune has been spreading steadily outward, embracing most of the rural areas around it and
bestowing the benefits of urbanization on them. Areas like Amdh, Hadapsar and Bauer
once considered to be on the outskirts of city have merged to be among the developed
locations of Pune due to expansion of the city limits and now considered among the most
sought after destinations in Pune. Each of these areas has their own decisive selling
propositions.
C. The Developers sighting the growing demand of properties among the Customers have
shifted their focus on new avenues around Pune i.e. outskirts or the next closest destinations
around Pune City. Due to abundance of land available in the outskirts of Pune, the
Developers have come up with Mega projects and townships with state of the art
amenities and facilities at an attractive price thereby attracting new Customers and investors
to invest in the destination next of Pune."
d. The Real estate sector in Pune has witnessed rapid growth since 2005. During the period
2005-2008, maximum development continued in peripheral regions due to lack of large
land parcels in central locations. In 2010, most of the peripheral regions got
consolidated with the City. Of this, the majority development

115
 happened in eastern and western part of the city. The residential market continued to
remain strong during this period, aided by strong demand from the IT/ITES sector.
Developers too geared up to keep pace with the rise in quality demand leading to
a significant change in project profiles, housing patterns and facilities offered. The
rise in demand spread throughout all size
categories, but was most prevalent at the high-end segment of the
19
market.

OBSERVATIONS FROM REAL ESTATE PORTALS:

1. The west of Pune has highest supply of real estate due to its proximity to the major
IT/ITeS Sector i.e. Hinjewadi due to high demand from NextGen People.
2. Small developers build Projects in the outskirts of the City.
3. Pune city is growing outwards thereby converting peripheral locations into sub-
urban area.
4. Mega Projects and townships are built by big developers in the outskirts of the
city.
5. The real estate development has happened mostly in the eastern and
western part of the City.

CONCLUSION FOR PLACE MIX:

1. The supply of Real Estate Units is different in different zones of
Pune.
2. The Place Mix Strategies of small Real Estate Developers are
different from Big Developers.

116
 3. Mega projects and townships are getting consmicted in the outskirts of
the city due to abundance of land with state of art amenities and
facilities at an attractive price there by attracting new Customers and
investors to invest
4. More and more NextGen people can afford better housing options,
leading to increased demand for upscale residences in Pune.
5. The place mix of Real Estate developers changes with changes in
economic environment.
6. Only Big developers build Mega Projects and townships.
7. Pune city’s real estate Market is growing outwards thereby converting
peripheral locations into sub-urban area.

3.1.4 PROMOTION MIX - — SECONDARY DATA

The researcher tried to get an insight into the Promotion Mix of the Real Estate
developers of Pune by studying various brochures, Real Estate Portals,
Newspapers, Annual Reports of Big Companies and Reports on Exhibitions.

SUMMARY FROM BROCHURES

The researcher studied almost 60 brochures pertaining to different Real Estate
Residential Projects in Pune and noted the following:
1. The big real estate developers promote their products through high
quality brochures mch as booklets, e-brochures, walk- through videos,
CD-ROMs, etc.
2. The brochures of big developers are colorful and highlight lavish
interiors and amenities.

117
 3. The small real estate developers promote their products by simple
brochures in the form of photocopies of the layout plans and price list or
small booklets.

OBSERVATIONS FROM BROCHURES:

a. Big developers promote their products through high quality brochures
such as booklets, e-brochures, walk- through videos, CD-ROMs, etc.
b. Small developers promote their products by simple brochures in the form of
photocopies of the layout plans and price list or small booklet.

SUMMARY FROM REAL ESTATE PORTALS:

The researcher visited property portals such as propertybytes.com, bharatrealty.org,
etc and the findings were as follows:
a. Brand ambassadors are popular tool for advertisement for real estate sector.
Many celebrities from Bollywood, sports and glamour have entered the
realty sector as brand ambassadors of prominent developers.20 The brand
name, no doubt, matters; but the developers are now associating celebrities
(some of whom have national and international presence) with
advertisement campaigns. 2' Whereas small developers use local actors as their
brand ambassador. For eg, Vilas Javadekar Eco Homes, are using Marathi
actor Atul kulkami as their brand ambassador.
b. Web Portals used by big developers have links to the developer’s own
websites.

118
 c. The Big developers have chat facility to answer the queries instantly when
someone visits their website.
d. Web Portals are widely used by small developers and brokers.
e. Web Portals give basic information about the Product.

OBSERVATIONS FROM REAL ESTATE PORTALS:

1. Big developers use celebrities for promotion of their products.
2. Web Portals are used by both small and big developers but small developer’s websites are
simple with basic information.
3. For products targeted at lower middle class, small developers use celebrities from local
area like Marathi Cinemas.

SUMMARY FROM NEWSPAPERS:

The researcher studied the classifieds sections of the Newspapers which covered real estate
advertisements of most of the small developers as well as special realty supplements of the widely
circulated newspapers such as Timesproperty, Express Estates, Sakaal Vastu, Vastu Rang, etc. The
summary of the findings was as follows:-
a. All Newspapers have around 30% to 50% space occupied by real estate advertisements in
their affordable classifieds sections which are mostly used by small and medium real
estate developers. All Renowned Newspapers which are read by people having high
budget have separate special supplements for Real Estate Advertising as shown in the
table.

119
Table (3-3): Newspapers having special Realty Supplements

Name of Newspaper Natne of Realty

Supplement
Economic Times ET Realty
Times of India Times Property
Indian Express Express Estate
Sakal Sakal Vastu
Loksatta Vasturang

120
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• dñ:ut1 hmnNr*0l#1!’w#'l hnitk\n6#

“tcâf?lacion

121
 CLASSFIE DS

OBSERVATIONS FROM NE WSPAPE RS:

1. Big developers give advertisemen ts in Supplements

special Real Estate
published by renowned Newspapers to make their presence feel to the
high budget audience.

122
2. The advertisements given by big developers are big in size and more
colorful. The advertisements are creative and attractive.
3. Small and Medium developers prefer giving advertisements in the
classified sections of Local Newspaper because it is more
affordable and is also being read by the masses.

SUMMARY FROM STUDY OF ANNUAL REPORTS:

The annual reports of Big Real Estate Developers like Kolte Patil Developers
Limited, D. S. Kulkami Developers Limited, and City Corporation Limited
were studied and the following information was gathered.
Table (3-4) Turnover and Marketing Expenses statistics of Top
Real Estate Developers of Pune. (Amount in Lacs)

31.03.11 31.03.11 31.03.10 31.03.10 31.03.09 31.03.09

NAME OF
THE Turn- Mktg Turn- Mktg Turzi- Mktg

COMPANY over Exps over Exps over Exps

Kolte Patil
Developers
Ltd 11260.85 482.60 6006.27 238.14 14140.36 335.99
D. S.
Kulkami
Developers
Ltd 18269.80 771.77 15208.68 714.30 28563.38 822.26

City
Corporation
Ltd 23036.78 658.48 18615.69 424.15 4711.80 3.31

123
Table (3-5) Percentage Analysis of Marketing Expenses to Turnover of
Top Real Estate Developers of Pune.
31.03.11 31.03.10 31.03.09
% of Mktg % of Mktg % of Mktg
NAME OF THE
Exps to Exps to Exps to
COMPANY
Turnover Turnover Turnover

Kolte Patil
4.29 3.96 2.38
Developers Ltd

D. S. Kulkami
3.97 3.34 2.88
Developers Ltd

City Corporation Ltd 2.86 2.28 007

OBSERVATIONS FROM STUDY OF ANNUAL REPORTS:

1. The turnover and the expenditure on the marketing/ advertisement/
promotional budget of big developers are huge.
2. The advertising expenditure of big developers shows an increasing trend.

SUMMARY FROM PROPERTY EXHIBITION REPORTS:

The researcher obtained details of all the property Exhibitions held in Pune
during the period 2005 to 2011 and obtained the following information from
the exhibition reports.

124
Table (3-6): Details of Property Exhibifions in Pune from 2005 to 2011
No. of
Participa
Name of the ting
Exhibition Date Venue

Times Property Expo 28/10/05 Le Meridien, Pune 15

Pune Property Hotel Pride,
13/10/07 20
Exhibition Shivajinagar

PBAP Mega Property SSPMS Ground,

3/10/08
Exhibition Pune

Pune Property Show 15/03/08 Turf Club, Pune 20

Times property
11/5/08 Le Meridien, Pune 24
exhibition
CREDAI-Property
5/6/09 Wakefield IT Park 33
Show 2009

CREDAI-Property
Pushpak Mangal
Show 2009 Best of
7/8/09 Karyalay 40
North and South Pune

Times Property
15/11/09 Le Meridien, Pune 60
Showcase 2009 Pune

CREDAI Property SSPMS Ground,

15/01/10 79
Exhibition 2010 Pune
Engineering
Sakal Property
College Ground, Pune
Exhibition 2010 1/5/10 70

125
Times Property
Showcase 2010 Pune-
Winter Session 5/12/10 Le Meridien, Pune 60

CREDAI Pune
Property Exhibition
2010 12/9/10 Le Meridien, Pune 75

Engineering
Sakal Vastu 4/12/10 70
College Ground

DNA pune property

1/11/10 Pune 25
exhibition 2010

CREDAI-Mega
28/1/11 SSPMS Grounds 81
Property Exhibition

Hotel Pride
Times "Homes for all" 19/02/11 40
Executive

Magicbricks' Pune
Western Suburb 2011
Property Show 3/4/2011 Hotel Vits, Pune 21

Times Property
28.05.11 Le Meridian 60
Showcase 2011

East of Pune Times

16/7/11 Hotel Ista, Pune 30
Property Showcase

Times premium The Westin, KP,

20/8/11 50
property showcase Pune

Sakal Property Engineering Colg

29/4/11 50
Showcase 2011 Ground,Pune

126
The projects which were displayed in exhibitions had clear titles, government
approvals and sanctions. Major Banks like HDFC, Axis, ICICI and other
commercial ones were also part of the property expo to provide spontaneous and
easy loans to the buyers.22

The researcher also studied exhibition report published by ICICI Property

services. This report gave the following information with respect to the
CREDAI Pune Mega Property Exhibition, 2010 held at SSPMS Ground, Pune
froml5.01.2010 to 17.01.2010.
a. The exhibition received a good response with over 10,000
registrations.
b. The developers had offered a free registration for all bookings done
at the exhibition.
c. All leading HFCs had offered a flat administrative fee of Rs. 5000+
service tax for all loan proposals logged in at the exhibition.
d. CREDAI had also organized a lucky draw every hour, offering
surprise gifis to the winners23

Key Findings of the report:

1. Apartment type showcased: 37% 2BHK, 32% 3BHK, 12% I
BHK, 12% Bungalows, 2% 1.5BHK & 1% Open Plots were showcased.
2. 23% of the respondents were willing to go for a house property
admeasuring 400-700 sq. ft. 48% of the customers were willing to go
for house property admeasuring 701-1000 sq. ft. The median preferred
apartment size in Pune market is 1000 sq. fl.

127
 3 The data gathered suggested that there is a considerable dormant demand for
1 BHK units in Pune (approximately 23%). The supply of 3 BHK and
above units is about 44% with a corresponding demand of just around
16%. Thereby, the data seems to be suggesting a demand supply
mismatch of 1 BHK and 3 BHK units. The Pune market would require
more of 1 BHK units to satisfy this dormant demand.

OBSERVATIONS FROM PROPERTY EXHIBITIONS

REPORTS:
a. The number of participating builders in Exhibitions shows an
increasing trend.
b. The number of exhibitions conducted every year is also increasing.
c. Properties in exhibitions have got clear titles, government approvals and
sanctions and therefore banks provide spontaneous and easy loans to
buyers.
d. The demand for 1 BHK is more but the supply for 1 BHK is less
whereas the demand for 3 BHK is less but the supply for 3BHK is more
in the Pune Real Estate Market.

SUMMARY FROM STUDY OF PROPERTY PORTALS:

To study the Promotion Mix of the Real Estate Developer, the researcher
studied many real estate Portals such as magicbricks.com, realtyplusmag.com,
www.99acres.com
a. Technology driven portals have over 2, 00,000 listings of properties
from across the country. The listed properties are

128
 classified city wise according to their type, size and price, which
simplifies the selection process. Moreover portals offers SMS enabled
services and the content section provides latest information on the
markets in the country apart from video presentations of some properties.
In order to help the users, some portals also offer easy tools viz. EMI
calculator, affordability calculalor, area conversion etc.
b. Some portals also tie up with leading banks & fmancial institutions
(HDFC, ICICI & Citibank) to facilitate financial solutions to their
audience. The Portals also offer builders and agents more options in
terms of advertising on the net and educate them on how to get
better response through this

Some of the widely accessed real estate portals are listed below:-
1. http://www.99acres.com/
2. http://www.makaan.com/
3. http://www.proptiger.com/
4. http://www.magicbricks.com/
5. http://www.realestateindia.com/
6. http://www.propertymart.co.in/
7. http://www.indiaproperties.com/
8. http://www.indiahousing.com/
9. http://www.puneproperties.com/
10.http://www.indiaproperty.com/
11.http://pune.iproperty.com/
12.http://www.bharatestates.com/pune/

129
 13.http://www.propertywala.com/
14.http://www.jairealtor.com/ 15.http://www.onlineghar.com/
16.http://www.propmart.com/
17.http://www.propertytalaash.com/
18.http://classifieds.sulekha.com/search/pune/real-estate-
portal.htm
19.http://www.al1puneproperty.com/about.html
20.http://www.zameen-zaidad.com/
21.http://www.kothi.com/
22.http://www.anytimeproperty.com/
23.http://www.realestatetimes.in/
24.http://www.allcheckdeals.com/
25.http://www.realestatekhoj.com/
26.http://www.abodesindia.com/
27.http://www.indialandmart.com/

CONCLUSIONS FOR PROMOTION MIX:

1. Big developers promote their products through high quality brochures such as
booklets, e-brochures, walk- through videos, CD-ROMs, etc. Whereas small developers
use simple brochires in the form of photocopies of the layout plans and price list or small
booklet.
2. Big developers use bollywood/ sports celebrities as brand
ambassadors. Small developers use local actors as brand ambassadors.

130
 o. Big developers give advertisements in special Real Estate Supplements whereas Small
and Medium developers prefer giving advertisements in the classified sections of
the Newspaper.
4. The big developers make huge expenditure on their advertisement/ promotional
budget.
5. The number of exhibitions being held by Pune Property Builders is increasing.
6. There is demand —supply mismatch in Pune Real Estate Market.
7. Exhibitions have become popular with both big and small
builders.
8. The availability of banks loan is important promotional tool used by the developers
participating in the exhibition.
9. Real estate portals have become popular because they give all necessary information on
the click of the mouse.
10. The Big developers have chat facility available to answer the queries instantly when
someone visits their website.
11. Real Estate developers are keeping in tune with the younger generation which is net-
savvy.
12. Due to use of internet, the consumer benefits from experiencing a range of products from
within the comforts of his home or office, while the seller or developer gains by getting
access to an unlimited reach at a significantly low cost.

3.2 SUMMARY FROM STUDY OF CONSUMER COMPLAINTS: The

researcher visited the district consumer court and obtained the data about
consumer complaints and the nature of complaints. This data was

131
collected to get insight into customer dissatisfaction and reasons for the same.
The summary of the findings were as follows:

Table (3-7): Number of Complaints registered in Consumer Forum

against Real Estate Developers from 2005 to 2010

Year No. of No. of No. of Total

Complain ts Complaints Complaints Complai nts
allowed Dismissed Withdrawn

2005 57 5 3 65
2006 58 7 4 69
2007 62 9 5 76
2008 62 12 7 81
2009 117 23 12 152
2010 124 27 16 167
Total 480 83 47 610

Analysis:
1. The customer complaints have increased by 156% during the period
2005 to 2010.
2. The total numbers of complaints with respect to real estate
developers during the period 2005 till December 2010 were 610.
3. Number of Complaints decided in favor of the Customers was 480
4. The number of complaints decided in favor of the Real Estate
Developers was 83
5. The Number of complaints solved amicably directly between the
customers and the Real Estate Developers were 47.

132
Table (3-8): Subject Matter of complaints registered in the Consumers Forum
during the period from 2005-2010
Sr. Subject Matter of Consumer Number of
No. Complaints Complaints

1 Deficiency in Service 486

2 Possession problem 32
3 Documents problem 32
4 Conveyance Deed Problem 17
5 Refund Problem 19
6 Land Problem 9
7 Lift Problem 6
8 Electricity Meter Problem 3
9 Contracts Problem 3
10 Building Name Problem 3
Total 610

Table (3-9): Percentage Analysis of complaints registered in the Consumers

Forum during the period from 2005-2010
Sr. Subject Matter of Consumer Percentage
No. Complaints

1 Deficiency in Service 79.67

2 Possession problem 5.25
3 Documents problem 5.25
4 Conveyance Deed Problem 2.79
5 Refund Problem 3.II
6 Land Problem 1.48

133
 7 Lift Problem 0.98
8 Electricity Meter Problem 0.49
9 Contracts Problem 0.49
10 Building Name Problem 0.49
Total loo.00

OBSERVATIONS:
1. The number of consumer complaints has increased over the years.
2. The Number of complaints solved amicably directly between the
customers and the Real Estate Developers are increasing.
3. Most of the cases are decided in favor of the Customers.
4. Majority of die Consumer Complaints during the period 1993 till
December 2010 are with respect to deficiency in service.

SUMMARY FROM CONSUMER BLOGS:

The researcher studied various consumer blogs such as Ravi Karandeekar’s
Pune Real Estate Market News Blog, www.complaints- india.com,
www.moneycontrol.com,www.indianrealestateforum.com, www.mouthshut.com,
www.commonfloor.com, etc. Few snapshots of the blogs are as follows:
Vinay, Bangalore
This is day light robbery. I spoke to Propmart sales executive and he quoted 500
rupees less than what was quoted by Puravankara sales executive and both of
them were the same! They are cheating people. Not only that, the apartment is bad.
There is water problem too. People haven’t got occupation certificate as they say
the project needs no occupation certificate. Never buy this property.

25

134
Ex-Moderator

Well, I am not at surprised seeing Kumar builders &

Mont Vert here along with couple of scorpio chaps
like one in Nigdi & other, Dharmavat for hfs project
Join Date: Jun Sunder Shrushti.
2009 Posts:
7,610 I have met Riaz for Kumar Kruti & at first instance
Likes itself, he looked a crook to me . After finding the
Received: 874
Likes Given: details of Kumar Kruti like the project was stopped
291 twice & the fact that it is of Kumar builders, decided
to kick it (later- also found that not a single flat is
good according to Vastu principles).
MV MOO€I: Kuamr Kruti is 5 year old project, yet going on ,
really pity to see people paying EMIs + rent for 5 yrs
& yet

see no light for poss date .

Hence, better avoid such builders & go for ready poss

only even if it means less choice. Cost' may turn out to
be the same as the delays mean additional EMIs+
rents.

26

13S
• 03-30-200B1ue Ridge by Paranjape schemes - Hinjewadi - Part
II
Instead of 'hoping', Paranjape Blue Ridge owners should organize like
the DLF owners. In this economy they can easily ask for a 20%
reduction. I fail to see how this project is going to be more valuable
then any of the other assets closer to the Pune. People should take
out their rose tinted glasses and look at reality. 300 owners staged a
protest in DLF to ask for refunds. That is the kind of consumer
activism we need to see to get the builders working as per their
27
contractual
obligations.

13S
OBSERVATIONS FROM COMPLIANTS LODGED ON
CONSUMER BLOGS
a. The blogs reflected the Customer complaints that though at the
time of booking, the builder had committed many amenities and also
possession date, the Builders delay the possession and also reduce
amenities.’8
b. Customers discussed aboul review of properties amongst themselves
before taking buying decision.

CONCLUSION FROM STUDY OF CONSUMER

COMPLAINTS:
1. The customer complaints have increased by 156% during the period 2005 to 2010.
2. Customers are not fuliy satisfied with the Real Estate Developers
3. Failure on part of developers to fulfill their obligations is a major cause of dissatisfaction.
4. Deficiency in service is major cause of dispute.
5. Customers are aware about their rights and approach to consumer
courts.
6. Both customers and developers prefer settling the dispute amicably.
7. The Customers share their views about Real Estate Developers
frankly.

136
 3.3 PROFILE OF SELECT REAL ESTATE DEVELOPERS: To study
the marketing strategies of the big developers, the
researcher studied the profiles of some big developers in detail. Below is
the summary about the profile of select builders based on information
collected from web-site, pTOIROtional material,
newspapers, etc. The observations and conclusions are presented at the end.
Table (3-10): Profile of Kolte-Patil Developers Limited

Name of the Developer KOLTE-PATIL DEVELOPERS LTD

Type of Organization: Public Limited Listed Company
Directors Details Rajesh Patil and Milind Kolte
Objective of the ‘Creation, not Construction’
Company/Firm

Year of Commencement: 1991

Number of Employees 600
Whether ISO 9001:2008 YES
Certified for Customer
Satisfaction?

Awards Received 2006 Recipient of Govt. of

Maharashtra's Award for Best IT Park
Infrastructure Award for Gigaspace IT Park.

Product Mix —Types of 1. Residential

Product 2. Commercial
3. IT
4. Hospitality
Price Mix type Mid Segment to High End Flats

137
Place Mix — Location of Wakad, Hinjewadi, Mohammedwadi,
Project Bavdhan and Kharadi

Promotion Mix l. Diversify the portfolio of

Advertising strategies/ public projects that they undertake and their
relations/ personal selling/ business activities.
Newspaper/ Hoardings/ 2. Continue to maintain high
Exhibitions/ Other Promotional standards of quality.
Practices 3. Continue to recruit and retain
highly qualified professionals.
4. Continue to cultivate long-term
relationships with major financial
institutions and others.
5. Catchy Hoardings
6. Presence in all Exhibitions
7. Up-to-date and user friendly
website

138
Table (3-11): Profile of D. S. Kulkarni Developers Limited

Name of the Developer D. S. KULKARNI DEVELOPERS

LIMITED

Type of Organization: Public Limited Listed Company

Directors Details Mr. D. S. Kulkarni, Mr. V. C. Joshi,
Dr. M.K.P. Setty, Mr. K.K. Taparia

Objective of the GHARALA GHARPAN DENARI

Company/Firm MANSA i.e. GIVING PEOPLE
HOMELY ENVIRONMENT.

Year of Commencement: 1991

Number of Employees 400
Whether ISO 9001:2008 YES
Certified for Customer
Satisfaction?

Awards Received National Institute of Construction

Management and Research
(NICMAR) Certificate of merit for 'the
Fastest Growing Construction Company -
2nd Rank' dated 26.10.2004
Builders Association of India, Pune Centre
has presented a citation to DSKDL for
DSK Toyota's 3'S Facility, Pune, and
Industrial Building for their achievement in
quality, speed and economy in
construction on 19.11.2000.

139
 Best Project award to DSK Ranwara
project at Pune by Architects, Engineers
and Surveyors Association of Pune.

Product Mix —Types of 1. Residential

Product 2. Commercial
3. IT
4. Hospitality
Price Mix type Affordable, Mid Segment to High End
Flats
Place Mix — Location of Sinhagad Road, Bavdhan and Mumbai
Project -Bangalore Expressway

Promotion Mix - The Company has set apart a portion

Advertising strategies/ public of its revenue for corporate image building by
relations/ personal selling/ means of Advertisements in Television, News
Newspaper/ Paper and other local media. The Marketing
Hoardings/ Exhibitions/ Other Department organizes exhibition, newspaper
Promotional Practices advertisements, telemedia, radio, e-mail particularly
giving the details of the new project, early bird
incentive, etc.
The Company has direct sales association with
ICICI Bank for Loan Tie-Up. DSK has the unique
method of calling all the owners for the
"Bhoomi Pooja" as well as arranging

140
 for atleast 4 trips during the consmiction
period. During these visits the marketing
team and the project execution team
answers all the questions raised by the
owners.

Table (3-12): Profile of Vascon Engineers Limited

Name of the Developer VASCON ENGINEERS LIMITED

Type of Organization: Public Limited Listed Company
Directors Details R. Vasudevan, V Mohan, K.G.
Krishnamurthy, R Kannan, Ameet Hariani

141
Objective of the Company/Firm "We don't just construct; we
engineer success"
"We don't just build the future; we
perfect it"

142
Year of Commencement: 1986
Number of Employees 700
Whether ISO 9001:2008 YES
Certified for Customer
Satisfaction?

Awards Received AESA Award-Vascon received

Architects, Engineers and Surveyor's
Association (AESA) Award for One Earth,
Suzlon Corporate Campus, Pune in Non
Residential Category, 2011
BAl Award — Ruby Mill Tower, Mumbai
recognize Well Equipped & Mechanised Site
Award from Builders Association of India,
Pune centre, 2010
Vascon in Top 14 —Vascon has been picked
to be among India's Top 14 Builders
India Award 06 -Builders Association of
India Award (2006) for excellence in the
field of
Commercial Building

Product Mix —Types of Product Residential, Commercial

Price Mix type Mid Segment to High End Flats
Place Mix — Location of Project Baner, Kalyani Nagar, Koregaon
Park, Hinjewadi, and Kharadi

143
Promotion Mix - Advertising They utilize the experience and
strategies/ public relations/ skills of their engineering,
personal selling/ Newspaper/ architecture, management and

Hoardings/ Exhibitions/ Other project execution teams to plan and

Promotional Practices carry out innovative developments
that maximise the use of land and
minimise the use of power and
other natural resources, including
raw materials and water.
They have introduced concepts
such as dual feeder electricity

supply and automated temperature

control systems in their projects to
reduce the consumption of
electricity.
They intend to continue to build
their real estate development
business and are committed to
developing a diverse range of
projects such as residential and
office complexes, shopping malls,
multiplexes, hospitality properties,
IT parks, community centres and
other buildings.

144
Table (3-13): Profile of Kumar Urban Development Limited

Name of the Developer Kumar Urban Development

Limited

Type of Organization: Public Limited Listed Company

Directors Details Mr. Lalitkumar Jain, Kruti Jain,
Pranav Jain, Mr. Shailesh Hingarh,
Mr.Kishor Biyani, Mr. Gaurav
Dalmia, Mr. Nachiket
Joshi

Objective of the Company/Firm Only thing permanent in this

world is change
"Kumar Builders establishes KUL"
An abbreviation for Kumar Urban
Development Ltd.
KUL Definition: Hard work Trust,
Knowledge and performance is
sustained over generations a KUL
is created. KUL stands for
knowledge, usefulness to society
and
legacy.

Year of Commencement: 1993

Number of Employees 550
Whether ISO 9001:2008 Certified YES
for Customer Satisfaction?
Awards Received The Company was selected as

145
 one of India‘s Top Ten Builders by
Construction World in 2009. The brand
Kumar Builders‘ under which their
Promoter has historically carried on
business received the following awards:
1. Amacus Real Estate Excellence
Award for the best real estate company
in 2008.
2. The Pune Real Estate
Excellence Award for the best
environment friendly project for
Kumar Sublime in 2008.
3. The Pune Real Estate Excellence
Award for the best real estate company in
2008.
4. The Pune Real Estate Excellence
Awards for the best retail project
awarded to Pune
Central in 2008.

Product Mix —Types of Product 1. Residential

2. Commercial
3. IT
4. Hospitality

Price Mix type High End Flats

Place Mix — Location of Project Baner, Kalyani Nagar,
Koregaon Park, Hadapsar,

14S
 Kondhwa and Kharadi
Promotion Mix - Advertising Diversified offering in the real
strategies/ public relations/ estate space. Their offerings are
personal selling/ Newspaper/ tailored for various price
Hoardings/ Exhibitions/ Other categories; and include middle income
Promotional Practices and high end
customers.
Some of their key managerial
personnel in the areas of
operations, design and
development, finance, marketing,
engineering, legal,
human resource, and business
development, are qualified
professionals, who are
specialists in their respective

business functions. They believe that

this experience gives them the ability
to anticipate the trends and
requirements of the real estate

market, identify and acquire

lands in locations where they believe
there is demand, and design their
properties in
accordance with demanding

customer trends.

146
 Good Website with chat facility
for instant reply to customer
queries

Table (3-14): Profile of Paranjape Schemes (Construction) Limited

Name of the Developer PARANJAPE SCHEMES

(CONSTRUCTION) LIMITED

Type of Organization: Public Limited Company

Directors Details Mr. Shrikant Paranjape, Mr.
Shashank Paranjape, Mr. Arun Phansalkar, Mr.
Shrikant Gadre, Mr. Tyagrajan Rnaganathan, mr.
Nilkanth Shrikhande, Mr. Naresh Nadkami

Objective of the A renewed focus on creating

Company/Firm entertainment, commercial, and work spaces of
the Knowledge Age. A commitment to
continue the Athashri movement and to take it
across the country, and indeed, across the world

Year of Commencement: 1987

Number of Employees 300
Whether ISO 9001:2008 YES
Certified?
Awards Received BR SEZ gets LEED India
Precertified Platinum Rating... P2

147
 Product Mix —Types of 1BHK, 2BHK, 3 BHK Residential ,
Product Township, SEZ, Commerical
Projects

Price Mix type Affordable, Mid Segment to High

End Flats

Place Mix — Location of Sinhagad Road, Bauer, Hinjewadi,

Project Paud Road, Kothrud

Promotion Mix - Advertising Participation in Exhibitions.

strategies/ public relations/ Good Website with chat facility for
personal selling/ Newspaper/ instant reply to customer queries.
Hoardings/ Exhibitions/ Other All their residents get privilege to
Promotional Practices become member of the Happiness
Network.
Paranjape Schmes have built a unique
concept “Athashri”. Athashri is not just
another residential project but a stress-
free world dedicated to meeting the
needs and aspirations of senior citizens.

Table (3-15): Profile of Rohan Builders (India) Private Limited

Name of the Developer ROHAN BUILDERS (INDIA)

PRIVATE LIMITED

Type of Organization: Private Limited Company

Directors Details Mr. Suhas Lunkad, Mr. Sanjay
Lunkad, Mr. Milind Lunkad, Mr.
Bharat Desarda, Mr. Deepak

148
 Bhatewara, Mr. Vijay Shirishrimal
Objective of the To set benchmarks in Quality,
Company/Firm Economy and Speed of Delivery. To set
high standards in Safety
To be the preferred employer in the
industry

Year of Commencement: 1993

Number of Employees 800
Whether ISO 9001:2008 YES
Certified for Customer

Satisfaction?
Awards Received 2009: The awards were received for
"Best Practices in consumer protection" and
"Best Project Execution".
2008: "Best Practices in Consumer Protection"
From the prestigious CNBC Awaaz - CRISIL: Real
Estate Awards 2008

Product Mix —Types of 2BHK, 3 BHK Residential

Product Commercial Projects

Price Mix type Mid Segment to High End Flats

Place Mix Location of Baner, Viman Nagar, Koregaon Park
Project

Promotion Mix - Unique advertisements on Hoardings.

Advertising strategies/ For high end Customers. Participation in
public relations/ personal Exhibitions.

149
 Newspaper Various Competitions to attract
selling/
/ Buyers
Hoardings
Exhibitions
/ Other /
Practices
Promotion
al

Description: These ads were done for Rohan Builders to promote their‘ new
residential complex ‘Mithila’. Unlike the usual norm, no trees were razed to make
space for this property. On the contrary, many more trees were planted in spaces
that were planned for consmiction earlier. The Print Ad titled Apartment was
done by Ogilvy & Mather Bangalore advertising agency for brand: Rohan
Builders & Developers in India. It was released in the Mar 2009.35

150
Table (3-16): Profile of Darode- Jog Builders Private Limited

Name of the Developer DARODE-JOG BUILDERS PVT. LTD.

Type of Organization: Private Limited Company

Directors Details Mr. Sudhir Darode, Mr. Anand Jog
Objective of the Company/Firm “Building Relations through
Construction” is the company’s

Year of Commencement: 1989

Number of Employees 250
Whether ISO 9001:2008 YES
Certified for Customer
Satisfaction?

Awards Received DSK Artists in Concrete Awards

2011 powered by NITCO,
conceptualized and instituted by
REIFY and CNBC TVl8 proved to be
a milestone for Darode Jog Properties.
The progress was inevitable hence
success was bound to be endowed
upon its housing Developments and
townships. With vivacious
accomplishment in six categories,
Darode Jog Properties vows to offer
the best. 1: Category: Best Hospitality
for Darode Jog

151
 Properties
2: Category: Aesthetic Excellence,
Residential construction Agencies BIG for the
LIVIANO Township 3: Category:
Affordable houses Residential Big
Construction Agencies for the
GREENLAND COUNTY residenfial
development.
4: Category: Overall Excellence Customer
Delight and Marketing Strategy.
5: Category: Marketing Strategy and
Customer Delight — Consmiction
Agencies Overall Excellence.
6: Category: Best Official for
Parag Borawake

Product Mix —Types of Product Residential, Commercial

Price Mix type Affordable to Mid Segment Flats
Place Mix — Location of Project Kharadi, Aundh Annexe, Navi
Peth, Karve Road, Pashan, Dhayari

Promofion Mix - Advertising Darode-Jog Properties is a

strategies/ public relations/ personal responsible corporate citizen. They believe that
selling/ Newspaper/ Hoardings/ apart from generating a great customer
Exhibitions/ Other patronage, giving
Promotional Practices back through social initiatives is

1S2
 essential to being a good corporate
citizen. Their Social Initiative
practices are strongly integrated into
their culture and business and fall into
four key areas: environment and
ecology, art and culture, educational
enrichment and society welfare. Good
Website.

Table (3-17): Profile of Goel Ganga Group

Name of the Developer GOEL GANGA GROUP

Type of Organization: Partnership Firm
Directors Details Mr. Jaiprakash Goe1, Mr. Atu1 Goel,
Mr. Amit Goel

153
Objective of the While Mankind Is Busy Exploring The
Company/Firm Universe To Discover New Living
Environments... We At Goel Ganga
Have Devoted Ourselves In Making
The Earth A Better Place To Live On.
Year of Commencement: 1982
Number of Employees 450
Whether ISO 9001:2008 YES
Certified for Customer
Satisfaction?
Awards Received Ganga Skies gets National Real Estate
Award for excellence in real Estate for
the year 2011 by Accommodation
Times.
Amicus Real Estate Excellence
Awards 2008 Most diversified Real
Estate Developer.
Amicus Real Estate Excellence
Awards 2008 Best Mentor Award
received by the Chairman of the
Company.
Amicus Real Estate Excellence
Awards 2008 Best Corporate Social
Responsibility Award.
CIDC Vishwakarma Award 2012
Best Project Award
Product Mix —Types of 1BHK, 2BHK, 3 BHK Residential

154
Product Projects
Price Mix type Affordable ,Mid Segment to High End
Flats
Place Mix — Location of NIBM, Aundh, Sinhagad Road,
Project Kharadi, Market Yard,
Promotion Mix - Advertising Enquiry management, organizing site
strategies/ public relations/ visits, making arrangements for site
personal selling/ Newspaper/ visits, recording enquires, handling
Hoardings/ Exhibitions/ inbound calls; recording enquires into
Other Promotional Practices ERP software system, follow up with
client, etc
Event Management: handling
exhibitions & events, pre exhibition
set up, enquiry analysis, book sale, etc.
Web marketing: Email & sms
campaigning, extracting enquires from
various portals like makaan.com, India
property.com, pune properties, 99
acres.com, etc.

Table (3-18): Profile of Magarpatta Township Development and

Construction Company Limited
Name of the Developer MAGARPATTA TOWNSHIP
DEVELOPMENT AND
CONSTRUCTION COMPANY
LIMITED
Type of Organization: Public Limited Company Township

ISS
 Company
Directors Details Mr. Satish Magar, Mr. Umesh Magar,
Mr. Chetan Tupe, Mr. Mangesh Tupe, Mr. Maruti
Magar, Mr. Nilesh Magar

Objective of the Their Objective is to create a new way

Company/Firm of life for the networked society of the new
millennium. With emphasis on proper
environment control, good living standards,
modern educational system and state-of-the-art
working
conditions with total security.

Year of Commencement: 2000

Number of Employees 250
Whether ISO 9001:2008 YES
Certified?

Awards Received It won accolades in the 2008 Sidney

World Congress of Metropolis. Maharashtra
Economic Development Council lists
Magarpatta City amongst the 'Top 10
success stories of the state'. Magarpatta City
has also been Identified as a prestigious
project along with 'Konkan Railways,
Mumbai-Pune Expressway' at the
infrastructure summit 2002. Cybercity has
received first prize for in the IT
infrastructure
category at the Maharashtra IT Awards.

156
 The City has also been mentioned in the
Limca Book of Records for having largest
solar water heating system.

Product Mix —Types of 1BHK, 2BHK, 3 BHK Residential

Product Projects, Commercial, Hospitality &
SEZ

Price Mix type Affordable to Mid Segment Flats

Place Mix — Location of Hadapsar and Dhayari
Project

Promotion Mix - Advertising Good Hoardings, Participation in

strategies/ public relations/ Exhibitions, Many Competitions, Website,
personal selling/ Newspaper/ Good customer service to get word of
Hoardings/ Exhibitions/ mouth publicity.
Other Promotional Practices

Table (3-19): Profile of City Corporation Limited

Name of the Developer CITY CORPORATION LIMITED

Type of Organization: Public Limited Company — Township
Company

Directors Details Mr. Aniruddha Deshpande, Mr.

Arunkumar Mehta, Mr. Lalit Adani,
Mr. Jayant Shah, Mr. Bimal Parekh

Objective Future India Easy India

Year of Commencement: 2003
Number of Employees 400
Whether ISO 9001:2008 YES
Certified?

1S7
Awards Received Reaity Plus Excellence Awards 2011
for West India, February 25, 2011 - Integrated
Township of the Year
The Union Bank of India Smart Living Awards, 2010
on l4th January 2011 for
• Residential Green Project.
• Responsible Corporate Award (Best CSR
Practice)
11th Greentech Environment Excellence Gold
award 2010 in Infrastructure sector on 12th December
2010 for the third consecutive year.
First prize in Empress Bunds N Blooms 2010
organized by Agri- Horticulture society of
Western India at Empress garden on 26.01.2010.
Global Awards for Brand Excellence 2009
by the World Brand Congress for Brand
Leadership - Construction to City Corporation
Limited.
Cityscape India Real Estate Awards on 20th
November 2007 for
• Best Real Estate Marketing
Campaign
• Best Corporate Social Responsibility

1S8
 • Best Developer — Mixed-use Award
(Future)

Product Mix —Types of Township Residential Projects,

Product Commercial, Hospitality and Schools

Price Mix type Affordable, Mid Segment to High End

Flats
Place Mix — Location of Hadapsar
Project

Promotion Mix - Advertising Good Hoardings, Participation in

strategies/ public relations/ Exhibitions, Many Competitions, Hosting
personal selling/ Newspaper/ International Events and shows for
Hoardings/ Exhibitions/ increasing awareness about the township
Other Promotional Practices project, Good Product Mix, Interactive
website. Newspaper advertisements,
Advertisements on
radio mirchi.

---"

159
Table (3-28a Comparative analysis of Marketing Mix of top Real Estate Developers

Name of Kolte D.S. Vascon Kumar

the Patil Kulkarni Engineers Urban
Developer Developer Developers Limited Developm
s Ltd. Ltd. ent Ltd
Type of Listed Listed Listed Listed
Organizati Public Ltd Public Ltd Public Ltd Public Ltd
on:
Objective Defined Defined Defined Defined
Number of 600 400 700 550
Employees
Wbetber YES YES YES YES
ISO
9001:2008
Certified?
Awards Yes Yes Yes Yes
Received
Product Residentia Residential, Residential Residential
Mix —Types l, Commercial Commerci Commerci
• of Product Commerci , al al,
al, Hospitality Hospitality
Townships
Price Mix Mid Affordable, Mid High End
type Segment Mid to High Segment to Flats
to High End Flats High End
End Flats Flats

160
Place Mix — West & West Pune West, West,
Location of East Pune North and North and
Project East Pune East Pune

Promotion Exhibition Radio, Word of Exhibition

Mix s, Exhibitions, Mouth, s, Website,
Hoardings, Hoardings, Website Hoardings,
Newspape r Newspaper, Newspaper
Website Website

Continued:

Name of Paranjape Rohan Darode Goel

the Schemes Builders Jog Ganga
Developer (Constructi (India) Builders Group
on) ltd. Private Private
Limited Ltd

Type of Public Ltd Private Private Partnershi

Organizati Ltd Ltd p
on:

Objective Defined Defined Defined Defined

Number of 300 800 250 450
Employees

Whether YES YES YES YES

iSO
9001:2008
Certified?

Awards Yes Yes Yes Yes

Received

161
Product Mix Residential, Residentia Residenti al, Residenti al,
— Types of Commercial, I, Commerc Commerc
Product Townships Commerci ial ial
al,

Price Mix Affordable, Mid Affordabl Affordabl

type Mid Segment Segment to e to Mid e ,Mid
to High End High End Segment Segment to
Flats Flats Flats High
End Flats

Place Mix — West & West and West and East and
Location of South Pune North Pune Central South Pune
Project Pune
Promotion Exhibitions, Hoardings Word of Exhibitio
Mix Hoardings, Newspape Mouth, ns,
Newspaper r, Website Website Website,
Website Hoarding

Newspap
er

Continued :

Name of the Magarpatta City Corporation

Developer Township Development Limited
and Construction
Company Ltd

162
Type of Public Ltd Public Ltd
Organization:

Objective Defined Defined

Number of 250 400
Employees
Whether ISO YES YES
9001:2008
Certified ?

Awards Received Yes Yes

Product Mix — Township Township
Types of Product Residential Projects, Residential
Commercial, Projects,
Hospitality & SEZ Commercial,
Hospitality and
Schools

Price Mia type Affordable to Mid Affordable, Mid

Segment Flats Segment to High
End Flats

Place Mix — West & East Pune East Pune

Location of Project

Promotion Mix Exhibitions, Hoardings,

Hoardings, Newspaper, Radio,
Newspaper Website Website

163
OBSERVATIONS:
1. The big developers construct Project with various amenities.
2. The big developers make projects for middle and higher income group.
3 The big developers wideiy use exhibitions, hoardings,
newspapers, and websites, chat facility for promoting their project.
4. The Big developers use latest technology to differentiate their
Project.
5. The big developers frame well defined objectives and vision
statement and are ISO Certified.

CONCLUSION FROM STUDY OF PROFILES OF VARIOUS REAL

ESTATE DEVELOPERS:
1. The Top Developers are corporate entities i.e. either Public or Private
Limited Company.
2. All big developers have defined Objectives and Vision Statement for
their Companies/ Firms.
3. The big developers develop projects with various amenities for middle
and higher income group.
4. All big developers construct high end Flats as a part of their
Product Mix.
5. Big developers make conscious efforts for customer satisfaction
through ISO 9001:2008 Certification.
6. All big developers have similar Promotional Practices for
Marketing of their Products.

164
 7. Promotion initiatives are more technology based and internet is
extensively used.
8. The big real estate developers have their own websites with
product details.
9. All developers who are corporate entities have chat facility available to
answer the queries instantly when someone visits their website.

3.4 CREDAI PUNE (BUILERS ASSOCIATION OF PUNE) About

CREDAI Pune (Formerly PBAP)
The CREDAI-Pune (formerly PBAP) established in 1982 and since
then is operating for the promotion of Real Estate Sector for the benefit of their
Members over more than 25 years. It has a strong membership of 272
members consisting of leading Promoters and Builders of Pune which
accounts for about 70% of the construction activities in Pune. The number of
members has gradually increased as follows:

Table (3-21): Number of Members of CREDAI from 2005 to 2010

Body/ Year Number of Members

Association
PBAP 2005 148
PBAP 2006 164
PBAP 2007 189
CREDAI Pune 2008 215
CREDAI Pune 2009 248
CREDAI Pune 2010 272

165
 Postal Address:
Nucleus Jeejeebhoy Tower, 3rd floor, Office
no. T- l,T-2,T-3, Church Road, Opp.
Commissioner Office, Camp Pune 411 001
It has seventeen Expert Committees in the area of Taxation, Finance,
Government Liasioning, City Greening, Labour Welfare, Environment and
Energy, Exhibition and Website, Training etc. The members of the CREDAI-
Pune have to observe Code of Conduct issued which will bring transparency.
CREDAI-Pune also has the grievance cell to redress the grievances against the
members.

Vice Presidents-
President 3 Nos

Management
N t on
Committee- 12 Hon. Treasurer
Members

(Fig. 3.2): Organization Structure of CREDA I - Pune

The Association is headed by the President, three Vice Presidents, Hon. Secretary,
Jt. Hon. Secretary, and Hon. Treasurer who are elected by the Members. In
order to support the Office Bearers there is a Managing committee consisting of
12 members who are also elected by the Members.

166
CREDAI -Pune closely works with Government and Semi-Government agencies and takes
initiative in policy formafion. CREDAI-Pune discharges various Corporate Social
Responsibilities directly and through its Members in City Greening and Beautification. It undertakes
health Checkup camps, creches, Immunization Programs, Doorstep schools for the children of the
labors working at consmiction sites. It also provides traffic wardens to the Police
Commissioner. CREDAI- Pune has issued Safety Manuals which is one of the important aspects
for the site personnel. It also publishes bimonthly Bulletin providing various information about the
construction sector to its Members. CREDAI-Pune, since its inception, has always been at the
forefront of understanding the needs of its buyers. CREDAI-Pune Property Exhibition is just
one of many such initiatives the Association has started in the recent past. The Property
Exhibition provides its members an ideal platform to showcase their developments and properties
in a congenial environment to their prospective buyers / investors.‘ 0

OBSERVATIONS AND CONCLUSIONS FROM STUDY OF REAL

ESTATE BUILDERS ASSOCIATION (CREDAI):
1. CREDAI helps its members in Marketing its property by arranging
Exhibitions and the number of participants in such exhibitions is
increasing
2. CREDAI Pune helps its members in understanding the needs of buyers
by providing information to the Members about the Construction
Sector.
3. The number of Real Estate Developers has increased by 83% during the
period 2005 to 2010 leading to competition.

167
 Bibliography
There are no sources in the current document.
IBEF. (2018). Retail Report. https://www.ibef.org/download/retail-nov-2018.pdf
IBEF. (2020). REAL ESTATE. www.ibef.org
Knigh Frank. (2018). India Real Estate Residential and Office.
 

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