SUMMER INTERNSHIP REPORT

“A STUDY OF CONSUMER’S EXPECTATION & PERCEPTIONS

BUYING A PROPERTY ” AT MVG BUILDERS AND
DEVELOPERS

SUBMITTED IN PARTIAL FULFILLMENT FOR THE AWARD OF

POST GRADUATE DIPLOMA IN MANAGEMENT (PGDM)
(Approved by AICTE, Ministry of HRD, Govt. of India)

BATCH-2021-23

Faculty Guide: Submitted by:

Prof. Sitanshu Sekhar Mishra Updeshi Chauhan
INDIRAPURAM INSTITUTE OF HIGHER STUDIES (IIHS)
VISHISHTHA SHIKSHA BHOOKHAND, NYAY KHAND-1
INDIRAPURAM, GHAZIABAD (U.P.)-201014
(DELHI, NCR)
 STUDENT’S UNDERTAKING

To whom so ever it may concern

This is to certify that a project report “A STUDY OF CONSUMER’S EXPECTATION &

PERCEPTIONS BUYING A HOUSE ” AT MVG BUILDERS AND DEVELOPERS ”. has been
prepared by Updeshi Chauhan in partial requirement of the fulfilment of the PGDM program at
Indirapuram institute of higher studies, Ghaziabad.

I hereby declare that all the information collected and data implemented in my report, are solely based on
my findings and research, which is executed in a timeline of two months. All the contents explained in the
report are the detail expression of the same.
 Acknowledgement

I am thankful to all people who have helped me during the course of my internship. And most deeply, I
am thankful to my mentor Mr. Mohan Chauhan who guided me throughout my project and his
valuable inputs and suggestions helped me to a great extent. I am also thankful to MVG Builders &
Developers pvt ltd. for providing me the opportunity to work in their organization as an intern and
prepare a project in their organization.

I am thankful to our hounarable Director Dr.(Prof.) Sharad Kumar Goel and Prof. Sitanshu
Shekhar Mishra for mentoring, guiding and for their supervision throughout the internship period.
Last but not the least, I am thankful to people at my ecosystem who gave their valuable time and
responded to my queries and surveys.

Thanking you

Updeshi chauhan
Executive summary
CONTENT

SN Contents Pg No

1 Introduction 7

2 Industry / Company overview 28

3 Objectives 29

4 Research Methodology 32

5 Data Analysis , Results and Interpretation 35

6 Conclusions 58

7 Recommendations 59

8 Limitations of the project 60

 EXECUTIVE SUMMARY

With the increased growth in Indian economy, it is witnessed Real Estate sector of
India has contributed larger percentage in National Income of the country. Real
Estate continues to be a favoured destination globally for Investors. Driven largely
by investor friendly government policies and increasing globalisation. Hence project
is throwing light on Real Estate sector of India started on 15 th may 2013 in Ullas
Infratech Pvt. Ltd (A Real Estate Consultancy Company) and was asked to study
‘The consumer’s perception and Expectations buying a house’.

Information was collected related to real estate and the information needed to buy
or search property from the educated people who can really have experience of
purchasing property or want to buy house or property. For that those people were
targeted who were doing jobs at top levels in various organizations.Data was
collected from Odisha Bhubaneswar and Cuttack region.

First of all questionnaire was prepared according to the job given . The objectives of
questionnaire are as follows –

Finding the consumer’s perception while he goes to buy a house.

Finding the expectations of a consumer when he goes to buy a house.

Finding all the solution to their perceptions and expectations.

A secondary objective was to gather information about what customers want from
real estate developer and Regulatory body working in Real estate sector.

Survey was started from Bhubaneswar Odisha. Data of 300 people were collected
which has helped to find out their perception and expectations. Few of them are as
follows -
People do not have a well defined expectation from the Developers.

People are not aware about the process of buying a house

/property.

People are not aware of the legal and technical documents which they should check
while buying or searching house/property.

Whatever information builder provide to customer in there brochures are condition

based and customer does not understand it in same way. Builders not selling their
project directly to END User. People do not know much about the Real Estate sector.
 1. INTRODUCTION TO THE PROJECT :

Whenever a person goes to buy a house, he is very confused. At that time he doesn’t
have a clear cut vision of, whether to go for this builder, that builder, which place,
genuine price and various other factors. So at that time what is there in the mind of
the consumer and what all things he is expecting from the builders, etc

Real estate sector is a vital section of Indian market structure. Since a lot of
opportunities are available in the real estate sector so there are a lot of companies
and Project developer are operating in Indian real estate sector. Then at this
junction the understanding of perception and knowing the expectations become
very much important.

So after finding the reason of all these we can provide maximum satisfaction to
customer.
1.1 OVERVIEW OF REALESTATE INDUSTRY IN INDIA.

INTRODUCTION
The real estate sector is one of the most globally recognized sectors. It comprises of four sub-sectors -
housing, retail, hospitality, and commercial. The growth of this sector is well complemented by the growth
in the corporate environment and the demand for office space as well as urban and semi-urban
accommodation. The construction industry ranks third among the 14 major sectors in terms of direct,
indirect and induced effects in all sectors of the economy.

In India, the real estate sector is the second-highest employment generator, after the agriculture sector. It is
also expected that this sector will incur more non-resident Indian (NRI) investment, both in the short term
and the long term. Bengaluru is expected to be the most favoured property investment destination for NRIs,
followed by Ahmedabad, Pune, Chennai, Goa, Delhi and Dehradun.

MARKET SIZE
By 2040, real estate market will grow to Rs. 65,000 crore (US$ 9.30 billion) from Rs. 12,000 crore (US$
1.72 billion) in 2019. Real estate sector in India is expected to reach US$ 1 trillion in market size by 2030,
up from US$ 200 billion in 2021 and contribute 13% to the country’s GDP by 2025. Retail, hospitality, and
commercial real estate are also growing significantly, providing the much-needed infrastructure for India's
growing needs.

India’s real estate sector saw over 1,700 acres of land deals in the top 7 cities in 1 year. Foreign investments
in the commercial real estate sector were at US$ 10.3 billion from 2017-21. As of February 2022,
Developers expect demand for office spaces in SEZs to shoot up after the replacement of the existing SEZs
act.
As per ICRA estimates, Indian firms are expected to raise >Rs. 3.5 trillion (US$ 48 billion) through
infrastructure and real estate investment trusts in 2022, as compared with raised funds worth US$ 29 billion
to date.

The office market in the top eight cities recorded transactions of 22.2 msf from July 2020 to December
2020, whereas new completions were recorded at 17.2 msf in the same period. In terms of share of sectoral
occupiers, Information Technology (IT/ITeS) sector dominated with a 41% share in the second half of 2020,
followed by BSFI and Manufacturing sectors with 16% each, while Other Services and Co-working sectors
recorded 17% and 10%, respectively.

Around 40 million square feet were delivered in India in 2021. It is expected that the country will have a
40% market share in the next 2-3 years. India is expected to deliver 46 million square feet in 2022.

According to Savills India, real estate demand for data centres is expected to increase by 15-18 million sq.
ft. by 2025.

In 2020, the manufacturing sector accounted for 24% of office space leasing at 5.7 million square feet.
SMEs and electronic component manufacturers leased the most between Pune, Chennai and Delhi NCR,
followed by auto sector leasing in Chennai, Ahmedabad and Pune. The 3PL, e-commerce and retail
segments accounted for 34%, 26% and 9% of office space leases, respectively. Of the total PE investments
in real estate in Q4 FY21, the office segment attracted 71% share, followed by retail at 15% and residential
and warehousing with 7% each.

In the first quarter of 2022, the gross leasing volume of India’s top seven office markets was at 11.55
million sq. ft. Between July 2021-September 2021, a total of 55,907 new housing units were sold in the
eight micro markets in India (59% YoY growth).

In the third quarter of 2021 (between July 2021-September 2021), new housing supply stood at ~65,211
units, increased by 228% YoY across the top eight cities compared with ~19,865 units launched in the third
quarter of 2020.

In 2021-22, the commercial space is expected to record increasing investments. For instance, in October
2021, Chintels Group announced to invest Rs. 400 crore (US$ 53.47 million) to build a new commercial
project in Gurugram, covering a 9.28 lakh square feet area.
According to the Economic Times Housing Finance Summit, about 3 houses are built per 1,000 people per
year compared with the required construction rate of five houses per 1,000 population. The current shortage
of housing in urban areas is estimated to be ~10 million units. An additional 25 million units of affordable
housing are required by 2030 to meet the growth in the country’s urban population.

INVESTMENTS/DEVELOPMENTS
Indian real estate sector has witnessed high growth in the recent times with rise in demand for office as well
as residential spaces. According to Colliers India, a property consultant, institutional investments in the
Indian real estate sector are expected to increase by 4% to reach Rs. 36,500 crore (US$ 5 billion) in 2021,
driven by rising interest of investors towards capturing attractive valuations amid the pandemic. According
to a recent report by Colliers India, private equity investments in Indian real estate reached US$ 2.9 billion
in the first half of 2021, which was a >2x increase from the first half in 2020.

Exports from SEZs reached Rs. 7.96 lakh crore (US$ 113.0 billion) in FY20 and grew ~13.6% from Rs. 7.1
lakh crore (US$ 100.3 billion) in FY19.

In July 2021, the Securities and Exchange Board of India lowered the minimum application value for Real
Estate Investment Trusts from Rs. 50,000 (US$ 685.28) to Rs. 10,000-15,000 (US$ 137.06 - US$ 205.59) to
make the market more accessible to small and retail investors.

Construction is the third-largest sector in terms of FDI inflow. FDI in the sector (including construction
development & activities) stood at US$ 54.17 billion from April 2000 to March 2022.

Some of the major investments and developments in this sector are as follows:

 Between January 2021-September 2021, private equity investment inflows into the real estate sector
in India stood at US$ 3.3 billion.
 Home sales volume across seven major cities in India surged 113% YoY to reach ~62,800 units in
the third quarter 2021, from 29,520 units in the same period last year, signifying healthy recovery
post the strict lockdown imposed in the second quarter due to the spread of COVID-19 in the
country.
 In the third quarter of 2021, the Institutional real estate investment in India increased by 7% YoY.
Investment registered in the first nine months of 2021 stood at US$ 2,977 million, as against US$
1,534 million in the same period last year.
 In November 2021, Ascendas India bought Aurum Ventures’ 16-storey commercial tower in Navi
Mumbai for Rs. 353 crore (US$ 47 million), making it the largest deal of a standalone commercial
tower by a global institutional investor during the past few years.
 REA India-owned online real estate company Housing.com tied up with online legal assistance start-
ups LegalKart, Lawrato, Vidhikarya and Vakil in 2021 to offer legal advice and assistance to
homebuyers.

 Top three cities—Mumbai (~39%), NCR-Delhi (~19%) and Bengaluru (~19%)—attracted ~77% of
the total investments recorded in the third quarter of 2021.
 India's flexible space stock is likely to expand by 10-15% YoY, from the current 36 million sq. ft., in
the next three years, according to a report by CBRE.
 To establish an investment platform for the Indian retail-led mixed-use assets, in June 2021, GIC
announced to acquire a minority stake in Phoenix Mills’ portfolio (worth US$ 733 million).
 In May 2021, Blackstone Real Estate acquired Embassy Industrial Parks for Rs. 5,250 crore (US$
716.49 million) to expand its presence in the country.
 To expand into the Indian real estate market, SRAM & MRAM Group collaborated with Area CAS
Developers and Infrastructure Private Limited (Area Group), and Gupta Builders and Promoters
Private Limited (GBP Group) of India. It plans to invest US$ 100 million in the real estate sector.
 According to Anarock, housing sales in seven cities increased by 29% and new launches by 51% in
Q4 FY21 over Q4 FY20.
 Private market investor, Blackstone, which has significantly invested in the Indian real estate sector
(worth Rs. 3.8 lakh crore (US$ 50 billion) is seeking to invest an additional Rs. 1.7 lakh crore (US$
22 billion) by 2030.
 In 2021, working remotely is being adopted at a fast pace and demand for affordable houses with
ticket size below Rs. 40-50 lakh is expected to rise in Tier 2 and 3 cities, leading to an increase in
prices in those geographies.
 In April 2021, HDFC Capital Advisors (HDFC Capital) partnered with Cerberus Capital
Management (Cerberus) to create a platform that will focus on high-yield opportunities in the
 residential real estate sector in India. The platform seeks to purchase inventory and provide last-mile
funding for under construction residential projects across the country.
 In March 2021, Godrej Properties announced it would launch 10 new real estate projects in Q4.
 In March 2021, Godrej Properties increased its equity stake in Godrej Realty from 51% to 100% by
acquiring equity shares from HDFC Venture Trustee Company.
 In January 2021, SOBHA Limited’s wholly owned subsidiary, Sabha Highrise Ventures Pvt. Ltd.
acquired 100% share in Annalakshmi Land Developers Pvt. Ltd.

GOVERNMENT INITIATIVES

Government of India along with the governments of respective States has taken several initiatives to
encourage development in the sector. The Smart City Project, with a plan to build 100 smart cities, is a
prime opportunity for real estate companies. Below are some of the other major Government initiatives:

 In October 2021, the RBI announced to keep benchmark interest rate unchanged at 4%, giving a
major boost to the real estate sector in the country. The low home loan interest rates regime is
expected to drive the housing demand and increase sales by 35-40% in the festive season in 2021.
 Under Union Budget 2021-22, tax deduction up to Rs. 1.5 lakh (US$ 2069.89) on interest on housing
loan, and tax holiday for affordable housing projects have been extended until the end of fiscal 2021-
22.
 The Atmanirbhar Bharat 3.0 package announced by Finance Minister Mrs. Nirmala Sitharaman in
November 2020 included income tax relief measures for real estate developers and homebuyers for
primary purchase/sale of residential units of value (up to Rs. 2 crore (US$ 271,450.60) from
November 12, 2020 to June 30, 2021).
 In order to revive around 1,600 stalled housing projects across top cities in the country, the Union
Cabinet has approved the setting up of Rs. 25,000 crore (US$ 3.58 billion) alternative investment
fund (AIF).
 Government has created an Affordable Housing Fund (AHF) in the National Housing Bank (NHB)
with an initial corpus of Rs. 10,000 crore (US$ 1.43 billion) using priority sector lending short fall of
banks/financial institutions for micro financing of the HFCs.
 As of January 31, 2021, India formally approved 425 SEZs, of which 265 were already operational.
Most special economic zones (SEZs) are in the IT/ BPM sector.
 ROAD AHEAD
The Securities and Exchange Board of India (SEBI) has given its approval for the Real Estate Investment
Trust (REIT) platform, which will allow all kind of investors to invest in the Indian real estate market. It
would create an opportunity worth Rs. 1.25 trillion (US$ 19.65 billion) in the Indian market in the coming
years. Responding to an increasingly well-informed consumer base and bearing in mind the aspect of
globalisation, Indian real estate developers have shifted gears and accepted fresh challenges. The most
marked change has been the shift from family-owned businesses to that of professionally managed ones.
Real estate developers, in meeting the growing need for managing multiple projects across cities, are also
investing in centralised processes to source material and organise manpower and hiring qualified
professionals in areas like project management, architecture and engineering.

The residential sector is expected to grow significantly, with the central government aiming to build 20
million affordable houses in urban areas across the country by 2022, under the ambitious Pradhan Mantri
Awas Yojana (PMAY) scheme of the Union Ministry of Housing and Urban Affairs. Expected growth in
the number of housing units in urban areas will increase the demand for commercial and retail office space.
The current shortage of housing in urban areas is estimated to be ~10 million units. An additional 25 million
units of affordable housing are required by 2030 to meet the growth in the country’s urban population.

The growing flow of FDI in Indian real estate is encouraging increased transparency. Developers, in order to
attract funding, have revamped their accounting and management systems to meet due diligence standards.
Indian real estate is expected to attract a substantial amount of FDI in the next two years with US$ 8 billion
capital infusion by FY22.

References: : Media Reports, Press releases, Knight Frank India, VCEdge, JLL Research, CREDAI-JL,
Union Budget 2021-22
Note: Conversion rate used in July 2022, Rs. 1 = US$ 0.01
INTRODUCTION TO THE COMPANY :

Company Profile :-

MVG Builders & Developers (P) Ltd.

MVG builders and developers Pvt Ltd., Which Started it's operations in the year 2015, is now becoming a
leading real estate company in its region. MVG is consistently growing at a phenomenal rate every year.

There are so many people around the world who are willing to have their own property but they have fear in
their mind regarding the property and legalities . In that way, MVG is working to remove all their fears and
helping them to own a genuine property with all the legalities.

Whether you are looking for a property, selling your property or searching for a new carrier
opportunity, selecting MVG means you pick success. We understand property buying and
selling procedures are a little challenging given the property price inflation that exists today.
But we all deserve to own the home of our dreams. Property rates may have traversed the
bounds but we are here to aid you at such times of necessity. The dream of possessing that
lovely home. We provide specialized properties expertise through our companies. Our
absolute integrity is reflected in our industry leading transparency and value proposition for
all our customers. We have a presence in 4 cities across one country. MVG has the best
selection of property in the region, selling properties then any other agencies..

MVG Builders & Developers Private Limited's Corporate Identification Number is

(CIN) U45209DL2019PTC348403 and its Registration Number is 348403.Its Email address
is mvgbuildersanddevelopers@gmail.com and its registered address is 258 1st FLOOR HARI
NAGAR ASHRAM NEW DELHI South Delhi DL 110014
This company makes innovation in real estate sector and brings out desired changes
according to their investors needs and desires. Before starting any of the projects the
company did lots of market research, The company studied the market well and
evaluates all the pros and cons of that project. As a result the company gathered a
great deal of data upon which the further investment and development strategies of
the company were determined.

KEY MANAGEMENT PERSONNAL

Director:- Mr. Mohan Chauhan & Hera Devi

Managing Director:-Mr. Anil Kumar Bharti

Marketing Head:- Ms. Madhu Kumari

Mission

Our mission is to help people to own a genuine property .

Vision

Our vision is to become a benchmark in real estate industry in our region

COMPANY’S OBJECTIVE:

Provide cost effectiveness to customers with innovation in marketing, finance, media

management and engineering.

COMPANY LOCATION

Company is primarly dealing in MATHURA, Uttar Pradesh

 Head Office:

258, First Floor, Hari Nagar Ashram,

Near (Bhumia Mata Mandir),

New Delhi -110014, India

Branch Office:

Mukkadam Muni Ram Complex, First Floor Main Road, Aichher , Pi 1 Greater Noida

UP

Branch Office:

Tyagi market, bala ji chowk, Mohan garden ,Uttam Nagar , new Delhi 110059

NEARBY LOCATIONS

K.D Medical Hospital &

Pepsi Prem Mandir NH-2
Research Centre
Brham Lok (17 km ) Brham Lok (2 km ) Brham Lok (5 km ) Brham Lok (0 km )
Shree Vrindavan Dham (17 km ) Shree Vrindavan Dham (5 km ) Shree Vrindavan Dham (15 km ) Shree Vrindavan Dham (0 km )
Shree Krishna Dham (10 km) Shree Krishna Dham (12 km) Shree Krishna Dham (15 km Shree Krishna Dham (10 km)
 World Biggest G.L.A
Ajhai Railway Station Chhata Railway Station Mathura Refinary
University
Brham Lok (2.5 km ) Brham Lok (7 km ) Brham Lok (2 km ) Brham Lok (20 km )
Shree Vrindavan Dham (7 km ) Shree Vrindavan Dham (1 km ) Shree Vrindavan Dham (10 km ) Shree Vrindavan Dham (30 km )
Shree Krishna Dham (7 km) Shree Krishna Dham (10 km) Shree Krishna Dham (10 km) Shree Krishna Dham (30 km)

JBM Auto Limidet

Vaishno Devi Mandir Sanskriti University Shani Mandir
Company
Brham Lok (4 km ) Brham Lok (10 km ) Brham Lok (7 km ) Brham Lok (15 km )
Shree Vrindavan Dham (15 km ) Shree Vrindavan Dham (12 km ) Shree Vrindavan Dham (0 km ) Shree Vrindavan Dham (15 km )
Shree Krishna Dham (15 km) Shree Krishna Dham (12 km) Shree Krishna Dham (7 km) Shree Krishna Dham (15 km)
PROJECTS:

Shri Krishna Dham is a colony of 100 bighas, in which

there are plots of 50, 100, 150, 200 square yards. There is also a market according to the convenience of the
people. In Shri Krishna Dham, 25 feet and 20 feet wide and big roads and roads, there will be proper
arrangement of electric poles and water. Land has been reserved for the temple.

Shri Vrindavan Dham is a colony of 100 bighas. In which there are plots and farm houses up to 100, 200,
250, 500 and 1000 yards.There are 40 feet and 30 feet and 20 feet wide paved and big roads in Vridavan
Dham. Electric poles and water on the roads.There is proper arrangement. Land has been reserved for the
temple.

Shri Radha Bihar is a colony of 100 bighas, in which there are plots of 50, 100, 150, 200 square yards.
There is also a market according to the convenience of the people. In Shri Krishna Dham, 25 feet and 20
feet wide and big roads and roads, there will be proper arrangement of electric poles and water, land has
been reserved for the temple. Shri Radha Bihar comes in the middle of the fourteenth Kos Parikrama of
Lord Shri Krishna. Before this, famous temples like Banke Bihari temple etc. and Shanidham, Nadgaon,
Barsana etc. in the west and 108 acres of land from the north will be built at a cost of Rs 5 lakh crore.

Shri Rishi Ban is a colony of 100 bighas, which has plots of 50, 100, 150, 200 square yards. There is also a
market according to the convenience of the people. In Shri Krishna Dham, 25 feet and 20 feet wide and big
roads and roads, there will be proper arrangement of electric poles and water, land has been reserved for the
temple. Shri Rishi becomes Lord Shri Krishna and comes in the middle of the fourteen kos parikrama.
Before this, famous temples like Banke Bihari temple etc. and Shanidham, Nadgaon, Barsana etc. in the
west and 108 acres of land from the north will be built at a cost of Rs 5 lakh crore.
What is a Trusted Property?

 A Property with Clear Title, Approved Maps & Finance-able.

 A Property Developed by a Certified Developer.
 A Property easily saleable.
 Clear Status & Surety of finance / Home Loan.
 A Property with better future Appreciation.
 A Property where Customer can take fast action without wasting time in
due diligence.

2.4 What is the requirement of TRUSTED PROPERTY for Real

Estate Developers?

 For the following reason need of trusted property for real estate developer-
 STAND OUT in CROWD as real Developer of Real Estate.
 To Encourage Healthy Competition.
 VALUE for MONEY.
 Extend Help to Customers to take Right Decision
 Project Information & Documents available on 3rd Party site.
 Another additional advantage for real estate developer –
 Easy Information Available not only to Customers but to Bankers, Financial
institution, corporate investors, Venture Capitalist & Others.
 A system to Create Image of your Company.
 An Opportunity to Show-case all your projects on internet.
 No Need to give papers to HFC ( Home Finance companies).
 Get Recognition / Appreciations from Customers, Bankers, Investors and
also from GOVT.
2.5 WHY SHOULD PEOPLE LOOK FOR TRUSTED PROPERTY?

 For the following reason there is need of trusted property for people-
 One Stop Source for Legal, Technical & other information of the Project of
the Developers.
 One Stop Source to judge the available opportunity for purchase of
house/flat/land.
 Authenticity of Property of a developer from the 3rd party.
 Safety, Security and Surety of Investment.
 Continuous watch on the project.
 Construction stage, Home Loan availability, Special Facilities, Price
Movement, Fresh availability & Etc.
 A unique concept to understand and perform the right of customers.
 Platform to share problems and find solutions.
 Customer Forum for each project.
 Get help in case of problem with the developer.
 One stop Awareness site for Real Estate.

2.6 OBJECTIVE OF TRUSTED PROPERTY –

 Create a system where a Developer can be differentiated with

unknown developer.
 Where Customer cannot be cheated.
 Where information available for all.
 Developer can demand right price for their product.
 Where investment risk is minimal.
 Where update of project available regularly.
 2. RESEARCH METHODOLOGY:

What is research?

Research can be defined as a scientific and systematic search for pertaining

information on a specific topic. We define research as the systematic design,
collection, analysis and reporting of data and findings relevant to a specific
situation facing the company. The main aim of research is to find out the truth
which has not been discovering yet.

OBJECTIVES OF THE STUDY

Project has mainly three following objective-

 To determine the customer’s perception.

 To determine the customer’s expectations.

 To determine the problems faced by the customers while buying a house.

2.1 SCOPE OF THE STUDY :

The project undertaken makes me able to improve my professional skills and

expertise. It helps me in getting an idea of Real Estate industry and its importance
in our life. It increases my confidence on professional ground by dealing with high
profile corporate that are very hard to convince. As for as company’s benefit is
concerned, this project helps company to know its market condition and level of
competition. Also it helps in creating awareness to consumers regarding property
documents and in promotion of their services.

In order to accomplish the objectives of the project a survey has been conducted
amongst customers of the real estate market. The survey is based on questionnaire
filling method and limited to some parts of Bhubaneswar and local region. The
survey is restricted to the information needed to show legal, technical and
financial transparency between project developer and customer.

TYPE OF RESEARCH: - Exploratory and Descriptive.

Exploratory research is a type of research conducted because a problem has not

been clearly defined. Exploratory research helps in determine the best research
design, data collection method and selection of subjects. Given its fundamental
nature, exploratory research often concludes that a perceived problem does not
actually exist.

Its seeks to find out how people get along in the setting under question, what
meaning they give to their actions, and what issues concern them. The goal is to
learn what is going on here?

On the other hand Descriptive research is aimed to find the complete description
about an existing problem or phenomenon.

RESEARCH DESIGN :-

A survey research method was the basic research design. I interact with personally
to people through questionnaire filling method. Questionnaire is having questions
regarding the respondent’s basic information such as contact details, designation,
what type of information they want from real estate project developer and
Government, what type of documents they check while buying or searching
property.
 2.2 DATA COLLECTTION METHODS :-

1. Primary data are collected through questionnaire method which is design to

keep in view the objective of the study.
2. Secondary data is collected through internet sources, research papers,
and published reports by various institutions.

2.3 SAMPLE DESIGN:-

Study of the geographical area comprising of Delhi NCR and Noida. It has tried to
cover corporate offices of different industries in these regions. Generally I met
with the employees related to the top management of the companies. The sample
size consisting of 300 respondent of these region.
4. DATA ANANLYSIS AND INTERPRETATION :-

Q) The professions of the people I met……..

profe s sion type

Valid Cumulativ e
Frequency Percent Percent Percent
Vali private 258 86.0 86.0 86.3
d business 9 3.0 3.0 89.3
govt. 31 10.3 10.3 99.7
1 .3 .3 .3
ow ner 1 .3 .3 100.0
Total 300 100.0 100.0
Total 300 100.0

ow ner

govt.

business

private
During the survey I visited many Government and Private Offices to meet with
people who can give me proper response of my questionnaire. I met with total 300
people out of which 10.3% (31) people are doing Government services , 86 %(258)
people are doing Private services and 3 % (9) people are doing business.
My target was to meet service class people because they are educated and they are
having capability of buying house or any experience of buying house or any
property.

300

200

100

0
20-25
25-30 30-40 41-50

age of a person

I met with people having different age. But generally I choose to met people having
age more than 30 years .Because they have bought house or they are in process of
buying any house. The people I have met most people belong to age group of 30 to
40 years and having 71% and people belonging to age group 25 to 30 years having
(least) 5.7%.People are in age group 41-50 years and more than 40 years are having
22%.

Q: How much are you satisfied from real estate marketing information
provided by real estate companies?

Valid Cumulative
Frequency Percent Percent Percent
Valid highly
3 1.0 1.0 1.3
satisfied
satisfied 93 31.0 31.0 32.3
neutral 64 21.3 21.3 53.7
dis-satisfied 126 42.0 42.0 95.7
highly
13 4.3 4.3 100.0
dis-satisfied
1 .3 .3 .3
Total 300 100.0 100.0
Total 300 100.0
 highly dis-satisfied highly satisfied

satisfied

dis-satisfied

neutral

With the help of above pie chat and table it is clear that majority (42%) of people
are dissatisfied and very less proportion (1%) of people are highly-satisfied with
the marketing information provided by the real estate companies . Many people
who are satisfied with the marketing information provided by developer ,they were
saying that Real estate companies does not want to share each marketing detail but
also some real estate companies does not want to hide any marketing detail if
customers asking about them. 21.3% people are neutral, 31 % people are satisfied
and 4.3 % people are strongly dissatisfied from the marketing details provided by
the real estate companies. The reason of this strange result in simple languages is as
follows-

 Builders do not give complete marketing information in their broacher.

 Marketing information provided by real estate developers is condition based.
  In the marketing information broacher, developers do not share the
negative side of project.
 The paper work is a bit different from that of the actual work.

We can make most of the customers satisfied by –

1. Creating awareness about all the marketing details.
2. By asking the developers to provide each (negative and positive) marketing
detail without any terms and conditions in their broacher.
3. By making the people aware of all the legal and technical documents which
are needed while going to buy a house.

Q: What source of information do you prefer while buying/ searching for a

property?

V alid Cumulativ e
Frequenc y Percent Percent Percent
V alid print
124 41.3 41.3 41.3
media
tv & radio 21 7.0 7.0 48.3
internet 16 5.3 5.3 53.7
outdoor
7 2.3 2.3 56.0
add
personal
86 28.7 28.7 84.7
ref erenc e
broker 46 15.3 15.3 100.0
Total 300 100.0 100.0
Total 300 100.0
 140

120

100

80

60

40

20

0
print
internet personal reference
media
tv & radio
outdoor broker
add

what source of information do you prefer while searchin for a pro

The above Table and chart shows that most of the people prefer Print media (41.3
%) and personal reference (28.7 %) for searching house or property. And other
sources like Internet, Broker, TV & Radio, Outdoor advertisement are having 5.3 %,
15.3%, 7%, and 2.3% respectively.

Many people say that search of property through internet is very comfortable.
Because in a single click they can reach to a number of builders and their projects.
They were saying that mostly internet property web portal shows only marketing
detail of projects but if they will show legal and technical document of project so
searching property through internet become more beneficial.

Some people say that print media is better way of searching property because it is
easily available at every where any time and also gives information about current
status of project with marketing details.
Many people were saying that buying or searching house or property through
broker is not safe because of their dual nature .Generally they are making hype of
the developers’ project and hide negative side of the project.

Q.3 Choose your preferable location and types of house you want to purchase?

Area of preference
cumalitive
Valid frequency percent valid percent percent
Bhubneswar 139 46.3 46.3 46.3
Cuttack 89 27 27 73.3
Khurda 49 16.3 16.3 89.7
Puri 20 6.7 6.7 96.3
Rourkela 9 3 3 99.3
Jagatpur 1 0.3 0.3 99.7
Nayagarh 1 0.3 0.3 100
Total 300 100 100 604.6
 Area of preference
frequency
bhubneswar
cuttack
khurda
puri
rourkela
jagatpur
nayagarh
total

Majority of the people prefer Bhubaneswar as the location (46.3%), then comes the
no. of Cuttack and Khurda with 27% and 16.3% respectfully, Puri stands fourth with
6.7%. The choice of area depends on the monitory condition and the facilities
available to people at a particular area.

 Most of the people want 3 BHK in Bhubaneswar area with price ranging from
35 to 55 lakhs.
 The demand for 2 BHK is bit less and varies from 15-20 lakhs.
 The demand for 1BHK is not much.
 People want 4 BHK in the range of 55 to 60 lakhs.
 There is not great demand of Penthouses and villas in Bhubaneswar and local
region.
 Most of the people who are doing job or having business who want to
purchase 3 BHK or 4 BHK prefer luxury house.
Q: Consumers preference of information related to property document from
Real Estate web portal, past record of builders, and marketing details-

priorior ity amongst the thr ee

Valid Cumulative
Frequency Percent Percen Percent
t
Valid property
documents 274 91.3 91.3 91.3
marketind
details 15 5.0 5.0 96.3
past
records 11 3.7 3.7 100.0
Total
300 100.0 100.0
Total
300 100.0

300

200

100

0
property
marketind past records
documents
details
prioriority amongst the three
From the above we can conclude that before going to buy a house people generally
look for the property documents which comes up to 91.3% of the total responses,
then the marketing details and the past records come.

Q: Is there any need for any regulating body in the real estate?

can't say

no

11

yes

In this question, majority of the people have a view that there is a need for some
regulatory body which can have a continuous eye on the real estate sector.
Very less people say the answer as ‘No’, and least no of people have ‘No reply’.
QUS.4: Do the Real Estate developers give possession timely?

Valid Cumulative
Frequency Percent Percen Percent
t
Valid yes 107 35.7 35.7 35.7
no 156 52.0 52.0 87.7
can't say 37 12.3 12.3 100.0
Total 300 100.0 100.0
Total 300 100.0

can't say

yes

no

The answer of majority was not in favor. Out of 300 people,156 said ‘no’ to this
comprising of 52% of the whole population. Whereas 106 said ‘Yes’ and Rest were
in two minds.
Q: Do you think govt. takes necessary steps to provide house to the common
man?

Valid Cumulative
Frequency Percent Percen Percent
t
Valid yes 98 32.7 32.7 32.7
no 148 49.3 49.3 82.0
can't say 54 18.0 18.0 100.0
Total 300 100.0 100.0
Total 300 100.0

can't say

yes

no

Majority said ‘No’ when asked this question and comprised of 49.3% of the total
answers, 32% said yes and 18% didn’t knew where to go.
 Q. Cross Tabulation of the Place of preference & the Type of House which a
person likes to have.

Count
Place of preference of a person
Bhubaneswar Cuttack Khurda Puri Rourkela others Total
type of 1BHK 4 2 5 1 12
house a 2BHK 24 25 15 7 3 3 77
customer
3BHK 84 42 27 12 1 6 172
prefers 15 9 3 5 2 2 36
4BHK
PENT
HOUSE 2 1 3
Total 129 78 51 25 6 11 300
 100

80

place of preference
60
Bhubaneswar
new delhi

Cuttack
ghaziabad
40
Khurda
noida

Puri
gurgaon
20
Rourkela
f aridabad

others
0 others
1BHK
3BHK PENT HOUSE
2BHK 4BHK

type of house a customer prefers

When the places of preference were cross tabulated with the types of houses the
consumers want then the result came out to be that:

 Majority of the public want 3BHK houses (i.e. 172) and that too the demand is
the most in Bhubaneswar (82).
 The least is the demand of the Pent Houses (total-3), which were in
Bhubaneswar and Cuttack region.
 There is very less demand of 1BHk houses in the Cuttack region which is
evenly distributed throughout.
 The demand for 2BHK houses comes second in the list with 77 out of 300
going for it. This is mainly concentrated in Bhubaneswar and Puri area.
 According to my survey, no one demanded Villas.
Q. Cross tabulation of the place of preference and the amount which a person
is willing to pay.

Count
AMOUNT WILLING TO PAY in LAKHS
10-15 16-25 26-35 36-45 46-55 above 55 Total
place of Bhubaneswar 5 18 60 36 8 2 129
preferenceCuttack 4 17 32 17 7 1 78
of a
Khurda 5 13 20 10 1 2 51
person 1 6 10 7 1 25
puri
Rourkela 2 1 1 1 1 6
others 4 6 1 11
Total 15 56 127 77 19 6 300
 70

60

50
place of preference
40 Bhubneswar
new delhi

30
Cuttack
ghaziabad

Khurda
noida
20
Puri
gurgaon

10 Rourkela
f aridabad

others
others
0
10-15 26-35 46-55
16-25 36-45 abov e 55

AMOUNT WILLING TO PAY in LA KHS

According to the cross tabulation of the amount a person is willing to pay at a

particular place the results came out to be:

 Maximum people wanted to pay the amount ranging from 26-35 lakhs.
 The situation is same at all the places.
 Then comes the range between 36-45 lakhs. This trend is mainly at the places
like Bhubaneswar, puri, Rourkela and other places. At Cuttack and Nayagarh
areas people prefer 16-25 lakhs range.
Q Tabulation between the type of house a person is willing to buy and the
amount he is willing to pay.. Cross

Count
AMOUNT WILLING TO PAY in LAKHS
10-15 16-25 26-35 36-45 46-55 above 55 Total
type of 1BHK 10 1 1 12
house a 2BHK 2 43 20 11 1 77
customer 3BHK
3 12 107 45 5 172
prefers
4BHK 21 11 4 36
PENT 1 2 3
HOUSE
Total 15 56 127 77 19 6 300

The Cross-Tabulation of the types of Houses and their range shows the following
things:
 The demand for 3BHK houses with price range in between 26-35 lakhs is the
most.
 3BHK is also in demand in the range in between 36-45 lakhs.
 The demand for 2BHK houses comes 2nd with the price range of 16-25 lakhs.
 120

100

80

type of house a cust

60
1BHK

40 2BHK

3BHK
20
4BHK

0
PENT HOUSE
10-15
26-35 46-55
16-25 36-45 abov e 55

AMOUNT WILLING TO PAY in LA KHS

Analysis of the three cross-tabulations:

 Majority of the people wanted 3BHK houses with price ranging from 26-45
lakhs in New Bhubaneswar.
 The demand for 2BHK houses comes next with price ranging from 16-25, and
26-35.
 The demand for 2BHK houses is also there in range between 26-35 and 36-45
lakhs and mainly in cities like Bhubaneswar and Cuttack.
 The demand for Penthouses is very less.
 Also the majority of people want to live in Bhubaneswar.
Q.10: What all documents you should look before buying house?

Peoples are now very conscious about property document. They were saying that
while buying or searching property they check property document, but since most
of them do not know the all property document required to check that’s why there is
need to create awareness about property document and builders should show the
entire property document to customers themselves.

While survey generally people gave name of following property document –

 Link chain ownership document.

 Registry
 Map approval doc.
 Kheshara- Khatauni
 Sale deed
 Intakhap paper
 Paper shows approval from government authority
 Paper of agreement between buyer and seller
 No objection certificate (N.O.C.)
 Acquisition letter
 Payment receipts
 Power of attorney of land.

Q: What are your expectations from the web portal?

The responses to this question were varied, like people said they

 They didn’t know.

 They wanted Transparency.
 They Wanted the Web portal to provide the complete information.
  Some said they want the timely information.
 Some wanted the Web portal to highlight the full information of the
Developer.
 Some even wanted all the legalities to be cleared by the Web-portals and then
displayed on it.

Q: What Problems have you faced while Dealing with the REAL
ESTATE DEALERS ?

 There were varied Responses to this question

 Majority said that they wanted to get rid of the brokers.
 Some said they wanted the Developers to display their complete information
on line and to the customers.
 There were people who wanted Hidden costs to be absent.
 Some wanted to get rid of the false promises.
 Almost all of the people wanted that the Developers should show
transparency and provide them with each and every form of information
which they wanted.

SWOT Analysis of Ullas Infratech –

Strengths –

 Team of professional having technical expertise, past experience in the field

of marketing, Finance, Project audit and Media for real estate sector.
 A wide range of services on web portal compared to the other web portals.
 By creating awareness regarding the Marketing details, legal and technical
document of the project make consumer more satisfied.
 In recent years, organized sector has increased its share in the market
unorganized sector.

Weakness –
 Failure to curve the activities of the un-organized sector.
 Lack of project developer’s support in providing the legal and technical
documents.

Opportunities-

 The growing population of India.

 People are becoming more aware.
 Rapid urbanization.
 Increasing trust of people on real estate web portal.

Threats –

 Tough competition among web portal segment of real estate.

 Some illegal services provided by the Broker.
 Government policy.
5. FINDINGS AND CONCLUSION:-

5.1 Findings:

 Most of the people are dissatisfied from the real estate marketing information
provided by the real estate companies, but very few people are strongly
satisfied.
 89% people are checking legal status of construction while buying/ searching
a house.
 70.7% people want to check details of booking before buying or searching
house.
 Most of the people have chosen PRINT MEDIA & BROKERS as a source of
information while buying or searching for a property.
 There is great demand of 2, 3 BHK house in near future in Bhubaneswar and
local region.
 Most of the people chose information related to the property documents as
their first preference compared to the marketing details of the project, past
record of builder and new policies of govt. related to real estate sector.
 Most of the people wanted the government to make policies in terms of legal,
technical and financial aspects which could create transparency in real estate
sector.
 Most of the people know only the names of few property documents and they
check only these documents while searching a property.
 A number of builders do not want to show the property documents to the
customers.
5.2 CONCLUSION:-

Now a day’s people who go for buying a house have become more aware about what
they should look for and the information they should seek, and are more concerned
about the selection of the right type of house for them. But majority of the people
are still unaware of the documents which they should look for before going to
buying a house. Here I have collected the perception and analyzed the expectations
of the general public as a whole. The conclusion thus is that people need to be more
aware of all the documents, the total legalities, and collect as much as information
from the builders, and then only they can do their investment with a free mind.

Thus because of the above reasons there is a need to create awareness among the
customers as well as project developers to give the customers the complete
information and the role of ‘TRUSTED PROPERTY’ to educate people is appreciated
in this regard.
6. RECOMMENDATION:

On the basis of my findings, I want to make certain recommendations as follows –

Recommendation to ULLAS INFRATECH PVT. LTD. –

 Company should provide information according to people’s need and

necessity. And for that they can open daily polling on their web portal.
 Company should not always try to attract the new customers only, but should
also take feedbacks from existing once, and try to remove their problems and
learn from their experience.
 Company should make more contact with contractors and Architects to tap
more builders.

Recommendation to customer –

 Customers should check all the legal and technical documents and not only
the marketing details of the builders/project, before buying or searching
house.
 Customers should go through all the terms and conditions of the project
developed.
 Customer should be aware of the government’s policy related to ‘Real Estate’.
Recommendation to Project Developer (Builder) –

 Builders should show their legal and technical documents to the customers,
to make them satisfied because most of the customers want to check it and
this also helps in creating a unique identity of the developers.

LIMITATIONS:-

 Un-availability of the desired personnel was the biggest constraint to this

study. Although appointments were made and followed up where possible
but still there were instances where the desired people were either
unavailable or unwilling to meet.
 No prior information regarding the addresses or other details of the offices to
be visited was provided, thus a few target persons were left uncovered.
 This project is completed in six weeks, so due to time constraints it was not
possible to cover all the area of Bhubaneswar and local region and mainly
Bhubaneswar area was covered followed by Cuttack , Puri and Rourkela.
 Some dealers were hesitating to give supportive data. Some of them ignored
the questions which were supposed to be filled by them. Thus affecting the
scientific accuracy.
 Since the data is not evenly collected from the local region hence there is a
chance of business.
BIBLIOGRAPHY

Referred Books:

 Kothari C.R.- “Research Methodology” Tata McGraw Hill In (95-102)

 Kotler Phillip –“Marketing management “analysis, planning implementation
and control.
 Schiffman Leon G.& Kanuk Leslie Lazar, "Consumer Behavior", Prentice Hall
of India “6th edition
 Singh Harpreet–“Research Methodology”-Kalyani Publishers.(page no. 1-8,
68-102)
Referred Websites:

 www.ullasinfra.com
 www.trustedproperty.org
 www.indianrealestateforum.com
 www.google.com
 www.scribd.com
 www.propertywala.com
 www.indiatimes.com
 www.buisnessstanderd.com
 www.economicstimes.com
 QUESTIONNAIRE

(NOTE-All the information taken from you is only used for research purpose)

TOPIC-Understanding the Consumer’s Perception & Expectations while buying

a House.

Name- …………………………………………………………………………………………………

Profession- Govt. service Pvt. Service

Business

Designation………………………………Name of
organization/Company……………………………….

Contact No. +91-………………………. Email…………………………………………………………….

Age (in yrs) 25 to 30 30 to 35 35 to 40 More than 40

1) Rank the following detail according to their importance at the time of

purchasing a property? (Rank1 to the most important, 3 to least)

a) Property docum ents b) Marketing details of uilder c)

b
past record
2) Tick the options which match your preferable location and types accordingly?

Type

1 BHK 2 BHK 3 BHK 4 BHK Penthou Villas

Location ses
Bhubaneswar

Cuttack

Khurda

puri

Jagatpur

Others

3) For the above chosen option how much are you willing to pay?

…………………………………………………………………………………………………………….

4) Do you think real estate developers give possession timely?

a) Yes b) No c) Can’t Say

5) How much are you satisfied from real estate marketing information provided
by real estate companies?

a) Highly d b) Satisfied c)
Satisfie Neutral

d) Dissatisfied e) Highly dissatisfied

6) Do you think the govt. takes necessary steps to provide house to the
common man?

a) Yes b) No c) Can’t say

64
7) What source of information do you prefer while buying /searching for a property?

a) Print media b) T.V. and Radio c)

Internet

d) Outdoor Add. e)Personal Reference f)

Broker
8) Do you think real estate web portal bridges the information gap between
real estate developer and customer?

a) Yes b) No c) Can’t Say

9) What all documents you should look for before buying a house?

………………………………………………………………………………………………………………

10) What is your Expectation from the web portal?

………………………………………………………………………………………………………………

………………………………………………………………………………………………………………

11) What problems have you faced while dealing with the ‘real Estate’ dealers?

………………………………………………………………………………………………………………

………………………………………………………………………………………………………………

Thank you for sparing your precious time

65