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  • Roll. No. - 8002
  • 1.1 Real Estate Industry in India:
  • Environmental Impact Assessment Notification: The notification specifies that
  • Q) What is the meaning of customer¶s perception & expectations while buying
  • a house?
  • Q) Why study of consumer perception and expectations?
  • Q) Why did I choose Apeksha Group?
  • The work culture at APEKSHA GROUP is based on the fundamental belief
  • that employees are its most important asset. Respect and genuine concern for
  • each employee in the organization is the basic principle on which the
  • dedicated and committed to their jobs. APEKSHA GROUP offers to their
  • includes monetary rewards in recognition of excellent work
  • Fallout of real estate boom:
  • Complete information of how to buy a home or property:
  • 1. How do I buy a house?
  • 2. Do I need a real estate agent or an attorney?
  • 3. What information must the seller provide us?
  • 4. Should the house be inspected?
  • 5. How do I make an offer on a house?
  • 6. What is a Residential Purchase Agreement and Receipt for Deposit?
  • 7. Can I change my mind?
  • 9. What types of home loans are available?
  • 10. What occurs when I "close" on a home?
  • 11. How should the title to the home be held?
  • 12. Do I need title insurance?
  • 13. Congratulations!
  • 2.1 Company Profile (Apeksha Group) :
  • Mr. Rajeev Rai
  • Mr. Sami Khan
  • Mr. Satsimar Singh
  • Mr. Praveen Singh
  • 2.4 What is the requirement of TRUSTED PROPERTY for Real Estate
  • Developers?
  • What is research?
  • Q: How much are you satisfied from real estate marketing information
  • provided by real estate companies?
  • Q: What source of information do you prefer while buying/ searching for a
  • QUS.3 Choose your preferable location and types of house you want to
  • Q: Consumers preference of information related to property document from
  • QUS.4: Do the Real Estate developers give possession timely?
  • Q: Do you think govt. takes necessary steps to provide house to the common
  • man?
  • Q. Cross Tabulation of the Place of preference & the Type of House which a
  • Q. Cross tabulation of the place of preference and the amount which a person
  • is willing to pay
  • Q. Cross Tabulation between the type of house a person is willing to buy and
  • Analysis of the three cross-tabulations:
  • Q.10: What all documents you should look before buying house?
  • Q: What are your expectations from the web portal?
  • Q: What Problems have you faced while Dealing with the REAL ESTATE
  • DEALERS«««..?
  • Strengths ±
  • Weakness ±
  • Opportunities-
  • Threats ±
  • 5.1 Findings:
  • Referred Books:
  • Referred Websites:

³Analysis of the consumer¶s perception and Expectations while buying a house´ SUMMER PROJECT 2009 Submitted for the

partial fulfillment of the requirement for the award Of POST GRADUATE DIPLOMA IN MANAGEMENT

Roll. No. - 8002

UNDER THE GUIDANCE OF Internal Guide: Dr. Siddharth Varma External Guide: Mr. Ajay Raj Singh



I hereby declare that the project report titled ³Understanding the Customer¶s perception and Expectations while buying a house´ submitted for the Post Graduate Diploma in Management is my original work and the project report has not formed the basis for award of any degree, diploma, associate ship or other similar titles.

Date: 9/7/09 Place: Sahibabad.

Submitted by: Abhishek Kumar Rai



This is to certify that Abhishek Kumar Rai has worked on the project entitled ³Analysis of the consumer¶s perception and expectations while buying a house´ for the partial fulfillment of the requirements of PGDM (batch 2008-10) for period of 45 days from 19th May 2009 to 3rd July 2009. This bonafied work has been done by him under our supervision.

Signature of the guide

Mr. I would also like to thank Mr. SAMI KHAN (C. AJAY RAJ SINGH (External Guide. Subham Rastogi (Deputy Manager). The successful task would be incomplete without the mention of the people whose constant guidance and encouragement crown all efforts with success. Ms Sudeep Khurana (Deputy Manager) . I would also like to extend my heartiest thanks to Ms Anjali Chauhan (Deputy Manager). First of all I would like to convey my thanks to Dr. Ms Pallvi Datta (Deputy Manager). .O.O.without their support I could not complete this project.) for giving me the opportunity to work and learn with APEKSHA GROUP. Deputy Manager) who extended to me all the support and cooperation I required during working in the field in various areas from time to time. The individual and personal efforts of everyone concerned were memorable and I am once again sincerely thankful to the whole team of APEKSHA GROUP and IME for their cooperation and providing me the required information and resources and helping me throughout for the successful completion of this project. UDYAN GIRI (Manager) and Mr.ACKNOWLEDGEMENT I take this opportunity to express my sense of gratitude to all those who helped me in completing this project. SIDDHARTH VARMA (Internal Guide. Faculty IME) for his constant suggestions which have resulted in successful completion of project I would like to express my sincere gratitude to Mr.



People are not aware of the legal and technical documents which they shouldcheck while buying or searching house/property. People are not aware about the process of buying a house /property. Finding all the solution to their perceptions and expectations.EXECUTIVE SUMMARY I started my project on 20th may 2009 in Apeksha Group (A Real Estate Consultancy Company) and was asked to study µThe consumer¶s perception and Expectations while he goes to buy a house¶. For that I targeted to meet people who were doing jobs at top levels in various organizations. Few of them are as follows People do not have a well defined expectation from the Developers. Builders not selling their project directly to END User. I started my survey from PRAGATI MAIDAN New Delhi. I was asked to collect the information 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. The objectives of my questionnaire are as follows ± Finding the consumer¶s perception while he goes to buy a house. Whatever information builder provide to customer in there broachers are condition based and customer does not understand it in same way. A secondary objective was to gather information about what customers want from real estate developer and Regulatory body working in Real estate sector. People do not know much about the Real Estate sector. First of all I prepared the questionnaire according to the job given to me. . I collected data from Delhi and NCR region. Finding the expectations of a consumer when he goes to buy a house. I collected the data of 300 people which has helped me to find out their perception and expectations.

housing. The future of the real estate sector in India is going to be guided by two important factors. to be around US$ 12 billion. Real estate companies would also do well to maximize their own performance and operational efficiency. shopping malls. This is the ideal time to invest in the country as policy makers have begun to emphasize on developing adequate infrastructure for the country. OVERVIEW OF REALESTATE INDUSTRY IN INDIA.1 Real Estate Industry in India: The size of the real estate industry in India is estimated by FICCI. is estimated to have accounted for more than 10 million square feet of real estate development. namely suitable amendments in the Foreign Direct Investment (FDI) guidelines in townships. is residential space and the rest comprise office. 1. including high-end technology consulting. This figure is growing at a pace of 30% for the last few years. hotels and hospitals. call centres and software programming houses which in 2003-04.1. This double-digit growth is mainly attributed to the off shoring business. built-up infrastructure and construction ± development projects as well as abolition of Service Tax on the construction . Almost 80 % of real estate developed in India.

Chennai. If the economy grows at the rate of 10% the housing sector has the capacity to grow at 14% and generate 3. and I. One Rupee invested in this sector results in 78 paise being added to the GDP of the State. The importance of the Real Estate sector. of space will be required every year till 2008. Estimates worked out show that 42 million sq.enabled services especially in the cities like Bangalore. A fast growing area is the I. which is also now gradually shifting to North India.2 million new jobs over a decade.industry especially the housing sector. In the next three or four or five years this contribution to the GDP is expected to rise to 6%. This Sector is already overburdened with taxes.T. Furthermore. and I. Conversely.T. To achieve the much desired growth and development in the Real Estate Segment. A unit increase in expenditure in this sector has a multiplier effect and the capacity to generate income as high as five times. as an engine of the nation¶s growth. Hyderabad and Pune.enabled services along with the BPO boom.T. if the abolition per se is not possible then drastic modifications in the existing Service Tax norms is the need of the hour. this sector has witnessed a spurt in demand not just in residential property but also in commercial property.T. The Real Estate Industry has significant linkages with several other sectors of the economy and over 250 associated industries. Five per cent of the country¶s GDP is contributed by the housing sector. can be gauged from the fact that it is the second largest employer next only to agriculture and its size is close to US $ 12 billion and grows at about 30% per annum. FICCI would like to submit the following 10 points for consideration: . only in I. ft. any further imposition of taxes in any form would adversely affect the growth of this sector of the economy.

Singapore. The concept of credit for taxes paid on subsequent transactions already exists in other statutes such as CENVAT. etc. be it the initial transfer purchase of land or on further sale of the same land after development or any other succeeding transaction. thereby reducing the cost of a property. this should ideally be further brought down to 2-3 % and made uniformly applicable across all states. but also the levy of Stamp Duty is applicable in every subsequent transaction.Infrastructure Status to Housing: Infrastructure status should be provided to housing sector. This will enable easier access to low cost institutional funds as also allow the sector to tap long term funds. Stamp Duty: In some States the Stamp Duty is as high as 14. Opportunely some states have brought the Stamp Duty down to between 6-8 %. VAT. USA. if the above suggestion is not acceptable then if stamp duty has already been paid on one transaction. whereby there is a provision for concession or a system of credit for any subsequent transactions. . Minimum Alternate Tax (MAT). This would avoid the resultant cascading effect of Stamp Duty.15 % of the value of the transaction. etc. Astonishingly in the Indian context. Hong Kong. However. Real Estate Mutual Funds/ Investment Trusts would be an efficient mode for providing equity financing as against debt. not only are the rates high. which is currently the norm for financing real estate developments in India. Real Estate Mutual Funds: The Government should consider setting up of Real Estate Mutual Funds/ Investment Trusts to provide the much needed support to the cash starved housing sector. similar to the structures adopted for Estate Mutual Funds/ Investment Trusts in developed real estate markets such as. there should be a mechanism in the law.

otherwise the completion certificate will not be given Furthermore. sanitation. Environmental Impact Assessment Notification: The notification specifies that no construction activity to be taken up. A necessary legal and policy framework has to be put in place to restrict growth of slums and at the same time to re-develop the slums into hygienic and livable. inspite of the approval of plans by the Competent Authority. in the case of future proposed projects the . till the environmental clearance has been sought. Archaic Laws: Availability of land for housing projects has been constrained by a variety of laws like the Rent Control Act and Urban Land Ceiling and Regulation Act. In the case of the environmental clearance certificate being denied then appropriate action if necessary and warranted can be taken against the developer / builder and builder be given time to get clearance before he applies for completion certificate. sewerage. Foreclosure Laws: The existing foreclosure laws are cumbersome as well as time consuming and make it practically impossible for Housing Finance Institutions (HFIs) to repossess a dwelling unit financed. HFIs are reluctant to take risk and continue to land primarily on salaried urban borrowers.Public Private Partnership: There is a need to evolve a regulatory framework that encourages participation of the private sector in bringing technical and managerial expertise in formulating and delivery of basic amenities like water. Amendment of (National Housing Board) NHB Act has already been initiated. which must be repealed in all the States. In cases where approval has already been granted it is suggested that construction activities should be allowed. transport and electricity. In the intervening period the builder / developer can obtain the environmental clearance certificate. The implementation process needs to be expedited to bring in the required changes.

However. governs the procurement of raw land. in order to ensure that private developers and colonizers procure the land directly from farmers and land owners without putting undue financial burden on State/ Central Governments on land acquisition for public purposes. to a large extent. a builder is governed by ³Agriculture Land Ceiling Act´ even after the land have been urbanized in the zonal plans / master plans. This makes builders to create several companies in order to circumvent the archaic laws. This aspect has been discussed in detail in Section II of this paper. particularly in repatriation of funds. . which may not form part of µresidential complexes¶.environmental clearances should be taken by the States themselves or by the planning bodies and not b individual builders. With the changing investment scenario it has become necessary to review the existing law. still. for the development of townships. Land Acquisition: The Land Acquisition Act of 1894. It is submitted that once the land has been urbanized and incorporated in the master plan. no rationale has been provided for exclusion of services in relation to construction of residential bungalows. then Agriculture Land Ceiling Act should not apply and builders should be permitted to acquire lands as per their requirements. Foreign Direct Investment (FDI): Suitable modifications in the FDI guidelines are required. streamlining of Clearance procedures as well as the opening up of the Retail Segment to FDI. clarification on the basic definition of ³built-up area´. Today. Service Tax: Service tax in relation to construction of residential complexes having more than 12 houses have been proposed to be introduced as a new service.

that builder. Then at this junction the understanding of perception and knowing the expectations become very much important. 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. whether to go for this builder. genuine price and various other factors. Q) Why study of consumer perception and expectations? Real estate sector is a vital section of Indian market structure. . At that time he doesn¶t have a clear cut vision of. he is very confused. So at that time what is there in the mind of the consumer and what all things he is expecting from the builders. So after finding the reason of all these we can provide maximum satisfaction to customer. which place.SUBJECT MATTER OF THE PROJECT : Q) What is the meaning of customer¶s perception & expectations while buying a house? Whenever a person goes to buy a house. etc.

and since builder are big gun so very few people get justices against builder. Nobody cares/dares it. NO!! We already have unlawful Activities (Prevention) Act 1967 and TADA in 1987. employees will perform to their fullest potential and will be sincere. `Similarly we have laws but.. open communication.Roti. Similarly in today's real estate may be 50% of Indians get affected directly but 90% indirectly.so . It Raises a question .the same story. How many people (individuals) participate in investing or reaping money from shares/bonds/MF.. It¶s again the same realestate sector in The US and of course some mortgage problem. trust. A question arises that. dedicated and committed to their jobs. APEKSHA GROUP offers to their employees a wide range of benefits to make work and life more enjoyable.. 1.Do we need RBI or SEBI... Three basic needs ± Food. Actually we need to understand where a regulator is needed and where not.Q) Why did I choose Apeksha Group? The work culture at APEKSHA GROUP is based on the fundamental belief that employees are its most important asset.. It¶s a different issue that 70% of the people get affected due to share market result. Now everybody knows Regulatory body in Food and Beverage is really important (not in India . They believe that by giving mutual respect. transparency and opportunities for growth. this includes monetary rewards in recognition of excellent work.2 REVIEW OF LITERATURE: NEED OF REGULATORY BODY IN REAL ESTATE Now a days many people are cheated by builder. You know the real cause of recession. may be 40% maximum.. recognition. etc. Kapda and Maakan. Respect and genuine concern for each employee in the organization is the basic principle on which the organization functions. Clothing & shelter .Does our constitution really needs the law.

why is it important.. and share-holders) if moderated by a central agency like RBI (I name it RERBI .... they have). ... You invest once and that¶s huge.. Govt.e.... It doesn't mean that earlier two is less important.. what is mutation. This is really BIG. it takes whole life to get a home. and credit cards and. What to do if you are at problem with your builder.. buyers.. probably everyman directly or indirectly is associated with real-estate sector (see the investments in Infrastructure bonds only). Comparing with a shirt or a burger.. Why not a industry.. real-estate sector comes next in terms of people employed. The involvement of more than 50% of the population (public representatives) makes a govt.. Fallout of real estate boom: The boom in the real estate saw emergence of many builders.. Money market is needed to be regulated because it is the backbone of our economic system.. then life for everybody in INDIA might be safer.. The amount of business real-estate industry is generating can't be no-longer ignored..poor us. what I mean to say is that MAKAAN is no lesser important.. After IT and ITES industry.Pepsi and Coke are doing business . how can a common man get it.. electrical equipments.. 65% of Indians have their own home at age of 62. The value of stake holders in this sector is no lesser than 90%.. About home. After 2001.. commercial space .. People within (i..sort of problems. advertises about checking food quality. employees) and outside (investors.Real Estate Regulatory Body of India).. and problems with auto.. what is map approval.. a dream of every man whether rich/poor black/fair.. We don't have as such a proper regulatory authority for Clothing (as it is cheaper here look at any 1st world country. But I haven't seen this effort to educate people about real-estate aggressively...really more important to any man than running after some credit card inflated bill or some inflated charges taken by Big Bazaar .. 1st world countries do have). prices of a commodity. who played upon the emotional side of human nature to own one's own dream house..

The purchaser/consumers have paid the entire sale price/major consideration and they are under debt of bank/financial institutions. some of them also promised assured returns by way of rent.etc. The interest of the consumer in the real estate lead to heavy bookings of the buildings. What do poor and harassed consumers do in such circumstances. The builders promised refund of money immediately on cancellation. the law of land supports him in this regard. After the bubble has burst. Instead the consumers were led by alluring advertisements issued by the builders. hand over the possession of the flat booked/alternative flat in the same locality and will ask to builder to bear the cost of escalation. promising delivery of possession of constructed building/flat within the stipulated time. will come to the rescue of such erring builders and will force the builders to pay compensation to the consumer. delivery of possession is unheeded. The promising builder has vanished or has started avoiding calls. The Consumer Protection Act. A consumer court is divided into three forums namely. Besides the ever rising prices of the houses/flats etc attracted many to invest in the real estate with a hope that their money will give the best returns if invested in the real estate sector. The purchaser/buyer is a consumer within the meaning of the above mentioned Act and failure of the builder to hold on to the promise made at the time of booking in delivering possession etc would constitute deficiency of service. A cheated customer can lodge a complaint with the consumer forums pointing out the deficiency of services by the builder. Where the value of the property is less than twenty lakhs. The consumer never bothered to check the credentials of the builder. Instead some builders have the audacity to demand more money on account of alleged escalation cost with a remote possibility of possession being handed over to them. savings have evaporated and there is no sight of completed building. the flats/commercial space were sold while at the drawing board stage. I need to emphasize consumer is not helpless and should not allow the builder to run over him. He should fight for his right. Where the value of the property is more than twenty lakhs but less than One Crore the complaint will be filed before the State Commission and where . needless to say. the complaint will be filed in the District Forum. district forum. the promises of the builders have gone for six. request for refunds. on account of rise in price of constructing a building. innovation of the concept of pre-launch bookings. 1986. sanctions by the competent offices etc. state commission and National Commission. if any.

the National Commission set aside an order of the State Commission. It was further held that it is the duty of the builder to obtain the requisite permissions or sanctions for construction etc in the first instance. It was noted that because of the delay in construction and delay in deciding the matter it is practically impossible for a consumer to purchase a flat at the market price. In another matter titled as Veena Khanna Vs Ansal Properties and Industries limited. The builder taking advantage of the order refunded the money. In the alternative. thus the delay in construction should not be a ground for grant of compensation to the consumer. Or in any circumstances. It was held that it was the duty of the state commission to direct the builder to deliver the possession of the same flat or flat of similar size to the consumer with compensation for delay in delivering the possession. the National Commission. layout plan etc. In the matter of DLF Universal Ltd Vs Brig (Retd)Kamal Sood. layout plan and schematic building plan were not given. The Honorable National Commission observed that it is unfair trade practice on the part of the builder to collect money from the prospective buyers without obtaining the required permissions such as zoning plan. The National Commission observed that refund of money with interest at bank rate does not mean that the complainant is adequately compensated for delay in construction of flat by the builder and not delivering the possession of the flat. The National Commission further observed that if there is any express promise that the premises would be delivered within the stipulated time and if it is not done so. adequate compensation ought to have been given so that the complaint could . it was directed that if the builder chooses to hand over the possession of the flat. the order of refund with interest will not come in operation. because of the rise in the prices of the immovable properties. escalation cost is required to be borne by the builder. the builder contended that government permissions. One Crore the complaint will have to be filed in the National Commission. such as approval of zoning plan. wherein the builder was directed to refund the money to the consumer along with the interest @ 13%. and thereafter recover the consideration money from the purchaser of the flat/buildings. wherein the consumer was led by the advertisement of the builder of delivery within stipulated time and consequently on the failure to deliver. The consumer was further burdened with the escalation cost due to such delay. reported as III (2007) CPJ 185(NC). reported as MANU/CF/0069/2007 was faced with a situation.the value of the property is in excess of Rs.

know exactly what you are buying and what the costs will be after you own it. you will need to budget for utility bills. Make sure that you ask the seller for copies of the past years" bills for these services. location. It's one of the biggest factors in setting the price of the home. . you will also have to pay association fees. Look at and compare many houses in different areas. property taxes. location. For example. How far will you have to commute? What is the traffic like? How does the neighborhood look? What services are available? How good are the local schools? Will you be able to get your children into them? What is the crime rate in the area. you get what you pay for. Complete information of how to buy a home or property: 1. buying a house is one of the most complicated and expensive purchases you will ever make. Some homes have special assessments in addition to the regular property taxes. As with most other things. Once you have seen something you like. Before you make a written offer. and insurance and maintenance costs. assess its location. How do I buy a house? Be an informed consumer. If you buy a home that has a homeowner's association. Remember: location. and that you inquire as to whether there are any assessments scheduled to be placed on the property in the future. and what types of crimes have occurred in the past couple of years? Visit the home on multiple occasions and at different times of the day.purchase a new flat of the same size at the prevailing market rate. Mere payment of interest is not an adequate compensation. in addition to the monthly principal and interest payments that you will have to finance the purchase of your home.

This must be disclosed to you before you make an offer. Your real estate agent will also assist you in negotiating the price. Do I need a real estate agent or an attorney? An experienced local real estate agent can assist you in finding a home that meets your particular needs. An attorney can help you with legal and tax questions that come up during the purchase of the home. learning about the community. and some roof repairs. In some instances. It is advised that you proceed carefully in this situation. pools and pool equipment. Usually you will not have to pay your agent a fee for the time and energy he or she spends in finding the home and assisting you in closing the sale. inspecting the home. and in closing the escrow. The agent who helps you find the home is called the buyer's agent. The seller's agent represents the seller. air conditioning. He or she will also have information about the home and area that an outsider would never find just by looking at the particular home. This is referred to as a dual agency. since your agent will be working for both the seller and you at the same time. dryers. the home warranty company will insure that the house and the appliances are in working condition. check the condition of the house and any appliances. For a minimum fee. Consider purchasing a home warranty. 2. Many companies will provide coverage for washers. Your agent or escrow holder can provide you with information on these policies.Also. a real estate agent can represent both the buyer and the seller. Most homes are listed for sale by a real estate broker who is referred to as the seller's agent. and can assist you in . The buyer's agent's fee will be paid by the seller when you complete the purchase of the home. If you are not sure that you understand all of your rights and responsibilities. it is advisable to see an attorney who is experienced in the purchase of residential real estate. obtaining a loan. window coverings and other items that you want included in the sale.

environmental problems. the seller must provide you with a Real Estate Transfer Disclosure Statement. the land. The seller must list on this form any possible problems he or she is aware of that might affect your willingness to purchase the home. rights of others to control how you use the property. Depending upon your purchase agreement. Or visit the State Bar's web site(www. call 415-5382280. nonfunctioning equipment.gov) where you'll find the bar's consumer education pamphlets. as well as information on ordering them. In most instances. This includes. Other sellers will consider your silence as acceptance of all of the conditions contained in the Disclosure Statement. when you are preparing to buy a home.ca. zoning and building violations. The pamphlets also can be ordered in bulk. What information must the seller provide us? In most cases. You should review the Disclosure Statement immediately and carefully. you will have a limited period of time to decide whether you wish to proceed with the purchase despite the stated disclosures. If you want information that is not covered in the Real Estate Disclosure Statement or additional information that is disclosed. easements. The seller's agent must visually inspect the home and report all facts that he or she feels might affect your decision to buy this property. and special assessments. .calbar. For more information on how to locate a qualified attorney.reviewing all of the documents and reports that will be provided to you in the process of purchasing the home. put your questions in writing and ask the seller to respond in writing. order a free copy of the State Bar pamphlet How Can I Find and Hire the Right Lawyer? To find out how to order a free copy of this pamphlet and other State Bar consumer education pamphlets. some sellers will require a written acceptance of the conditions contained in the statement. 3. This is a pre-printed form that lists many features or conditions about the home. and the area where the home is located. for example.

All of which would affect the value of what you are buying. Should the house be inspected? Before buying any property. he is not insuring the quality of the house. and a natural hazards inspection to see if the home is located in an area subject to fire. Once you have found the home of your choice and have determined how much you are willing to pay. you need to make a deposit (called earnest money) to show . At a minimum. you should have the home inspected to determine if it is structurally sound. If you are buying a home built before 1978. You can also get information on home sales in your area by visiting a host of Internet sites provided by professionals in the industry.If you buy a condominium. 4. The real estate agent can advise you about additional inspections that might be warranted under the circumstances. 5. the seller must give you copies of the homeowners association's rules and bylaws. in a hillside area. you should seriously consider an inspection for lead-based paint. and must inform you if there are any unpaid assessments. How do I make an offer on a house? Most homes are sold through real estate agents who have expertise in valuing homes. or by reading the real estate section of your local newspaper. The kinds of inspections you need depend on the location and condition of the property. For example. and an inspection is a good idea. for this reason. You should also ask to see the past minutes of the association board meetings. you might want a soil stability inspection. earthquakes or flooding. and financial statements. Keep in mind that while the seller has to tell you about anything he is aware of that is wrong with the house. You might find that there are pending or future lawsuits or defects in the construction of the complex being discussed in these meetings. it is advisable to have it inspected by trained specialists. a pest control inspection to see if the house has been infected by termites or dry rot.

it should include a complete description of the property and of any personal property that will be sold with the house. The price you offer on a home will. These include. local taxes. The deposit is considered a down payment on the price of the home. This will give you an idea of some of the additional costs you will incur in purchasing your home. The deposit is usually deposited in escrow upon the acceptance of your offer. This form sets out the terms upon which you are willing to purchase the property. It should state the exact purchase price. title reports. Ask your agent or escrow officer to provide you with an estimated closing statement. be less than the amount you will need to purchase the home. for example. It should cover all of the important terms of the sale. such as window coverings. 6. especially if there are multiple offers on the home. What is a Residential Purchase Agreement and Receipt for Deposit? This agreement is an offer which. There will be expenses incurred in purchasing the home that will have to be paid by either the buyer or the seller. washers and dryers. any increases in that deposit. kitchen appliances. You do not want any surprises. and the amount you will need to finance to complete the purchase price. including the amount of your initial deposit. in most cases. document preparation. check or wire transfer.the seller that you are serious about buying the house. results in a binding contract. You may also need a condition that allows you to cancel the sale if you cannot sell your current . recording fees. In some instances you may have to increase your deposit or increase your offer. You will want a condition that allows you to cancel the contract if you cannot obtain a loan on favorable terms or if the inspections reveal substantial defects or problems with the home. homeowner's insurance. fees for inspections. upon acceptance by the seller. For example. This agreement should also list any conditions that may allow you to back out of the contract. You submit a written offer on a form known as the Residential Purchase Agreement and Receipt for Deposit. escrow fees. and notary fees. the amount you will pay in cash.

you may be able to terminate or revise your offer if you are unhappy with what your inspections reveal or if other conditions of the offer are not met. what will happen if you and the seller have a disagreement over the terms of the sale. Can I change my mind? You should not make an offer to purchase a house unless you are serious about buying it. the more conditions you have. How can I get a loan? .home. You do not have to agree to this provision. however. and how the brokers will be paid. Carefully discuss the pros and cons of initialing this provision with your agent or attorney. The Residential Purchase Agreement and Receipt for Deposit contains several provisions that discuss what will happen in the event the sale does not go through. however. You can. The agreement should also indicate whether you are purchasing the property in "as is condition" or the seller is warranting the condition of the property. This agreement should also set forth what will happen to your deposit if you cancel the sale. the less likely the seller is to accept your offer. 7. The liquidated damages provision can result in you losing most if not all of your deposit (up to 3 percent of the contract price) in the event you elect not to complete the purchase price. If your offer has already been accepted by the seller. There is no provision in the standard contract for liquidated damages in favor of the buyer in the event the seller wrongfully refuses to go through with the sale. 8. revoke your offer before it is accepted by the seller. Take the time to go over each and every term of the agreement with your agent before you sign the agreement. This revocation should be in writing. and your election is without good cause. There is a mediation provision. Please understand. an arbitration provision and a liquidated damages provision.

mortgage bankers. The terms of these loans should be discussed with your agent or attorney. savings and loan associations.Most home loans are made by financial institutions such as banks. Sometimes a seller will offer a seller-financed or carry back deed of trust. the lender will check your credit rating and review your past employment. assessments and zoning regulations that affect the property. pension funds and investment trusts. and credit and debt obligations. the property you purchase will be security for repayment of the loan. You should be careful in assuming any loan. mortgage loan brokers. This will include an appraisal or estimate of the fair market value of the home. easements and other conditions will be superior to its loan. When you apply for a home loan. document preparation fee. a review of the preliminary report prepared by the title insurance company to determine what liens. Most loans . Your agent will be able to recommend lenders in your area. In most instances. Lenders charge different fees and offer different interest rates so it pays to shop around. Other sources of loans are insurance companies. You should discuss these fees with your lender before you submit your application. you can "assume ³a loan or take over a loan that the seller has been paying off. What types of home loans are available? In exchange for cash from the lender. and a review of any taxes. you agree to pay interest and to make payments over a period of time. 9. finance lenders. This financing method is often used when a seller wants to receive income over a period of time or when lenders are stringent in their loan requirements. Some lenders will charge you a loan application fee. appraisal fee and other fees to consider or close the sale. and credit unions. Occasionally. It will also obtain information about the property that will be security for the loan. income history. He or she is best qualified to determine if the loan documents and agreement meet all legal requirements.

Make sure that you understand all of the terms of these loans before you agree to accept one. These include loans for first-time homebuyers. the U. a person or company that has . Some fixed rate loans are federally insured or guaranteed. The ARM's interest rate is tied to an index that reflects changes in the market rates of interest. new mortgage plans become available that are intended to meet specific needs of a community. 10. For more information on these loans. Veterans Administration or the U. These loans usually have a lower interest rate and require smaller down payments. Occasionally. Check with your local consumer affairs office and housing departments for up-to-date information on these types of loans.have an acceleration or due on sale clause. A fixed rate loan offers a set interest rate. This means that the lender can demand that the seller's loan be paid in full when the property is sold. Department of Housing and Urban Development (HUD). and the Federal Reserve Discount Rate. such as a Veteran's loan or an FHA loan. If you wish to assume a loan.S. you should have your agent or attorney review all of the seller's loan documents and make approval by the lender a condition to your offer. so that your monthly payment never changes. Some indexes used are the Cost-of-Funds Index published by the Office of Thrift Supervision. An ARM is a mortgage loan which provides for adjustment of its interest rate as market rate interest rates change. Most home loans that are available to Californians offer one of two interest rate structures. ARMs can be complicated. These loans usually have interest rates that are lower than the fixed rate loan interest. What occurs when I "close" on a home? For the protection of the seller and the buyer. sometimes called an ARM. and loans for teachers. get in touch with a local office of the California Department of Veterans Affairs.S. Another type of loan that is available is an adjustable rate mortgage loan.

These instructions should be clear and certain as to the intentions of the parties and the duties of the escrow holder. the lender and the title insurance company. If they do conflict. the escrow holder will provide you with a Settlement Statement. The escrow holder's job is to make sure that all of the terms and conditions of the agreement are met. Make sure your Purchase Agreement does not conflict with your escrow instructions. The escrow holder is required by law to remain neutral. If you have any questions or concerns about the charges you incurred. He or she will also coordinate all of the activities of the broker. Escrow services can be provided by title companies. a lawyer or an advisor. savings and loan associations. They are modified throughout the course of the escrow as the agreement between the buyer and seller change. discuss them with your agent. realtors or lawyers. escrow instructions are signed when the escrow is opened. How should the title to the home be held? . 11. If you are uncertain as to what the instructions say. Many of these costs may be deductible from either your state or federal taxes. The escrow holder will deliver the deed to the county for recording when it can pay the seller the money. After the close of escrow. contact the escrow holder immediately and ask for an explanation. independent escrow companies. escrow instructions are executed just prior to the close of escrow. This procedure is called escrow. all of the costs incurred by you in purchasing the property. and the escrow holder. In Northern California. This document will show you. You should review this document carefully and save this statement for later. The escrow holder does not act as a mediator. your lawyer. as the buyer. banks. In Southern California. Its only job is to carry out the terms of the escrow instructions.no connection with you or the seller holds the money and papers involved in the purchase. the escrow instructions may be considered your final agreement as to the terms of the purchase.

You should discuss your options with a tax specialist and your agent before you make your selection. as separate property. You can also hold title to the property in a family trust. as joint tenants or tenants in common. You can hold title to the home by yourself. Once you have chosen a company. In many instances. For more information on the different forms of ownership. the escrow holder will ask you how you wish to hold title to your new home. "Clear title" means that when the sale to you is completed. the title to the property will be free from liens. The State Bar of California. you. judgments and other claims that you have not agreed to accept. 94105-1639. It is. It also will affect whether certain taxes will be incurred or whether a probate of the estate will be necessary. 180 Howard Street. You should discuss these issues with your agent. mail a self-addressed envelope (with 55 cents in postage) to the Estate Planning. as community property.Prior to the close of escrow. with your spouse. San Francisco. especially . Do I need title insurance? Title insurance is necessary for your protection when you buy a home. you should make one of the conditions of the close of escrow clear title to the property. see the State Bar pamphlet Do I Need Estate Planning? To obtain a complimentary copy of this pamphlet. You should also discuss with your agent the need for a survey of the property and title insurance coverage for boundary line disputes. When you make an offer to buy a home. as the buyer. 12. however. For information on ordering multiple copies. or with your spouse or a third party. Trust and Probate Law Section. This decision should be based on the local office's expertise. not a guarantee that problems will not arise after the close of escrow. and the company's record for fairly handling claims under its policies. How someone holds title will affect what will happen to the property in the event of the death of one of the owners. have the right to choose the title company. call 1-888-4607364. California.

Request copies of any documents you do not understand. in most instances. the escrow holder and/or your attorney. Congratulations! Whether you are purchasing a home for the first time or for the fourth time. The title company will provide you with a report. and post policy forgeries. Often the difference in cost for the better policies is nominal. zoning violations. It will also search the public records for claims against the property. Be aware that different companies charge different rates. A survey and survey coverage can help eliminate future disputes with your new neighbors. you can obtain protection for losses resulting from illegal construction. called preliminary report.in rural areas. not the best policy available. And since a portion of your purchase price is paying for the agents and the escrow holder's expertise. Discuss with your agent and the escrow holder what policies are available in your area and the differences in prices on each of the policies. ask for an explanation of any item you do not understand. boundary lines are not where they should be. You should also review this report and determine what items you are willing to accept when you purchase the property and what items you wish removed or taken care of as a condition of the close of escrow. prescriptive easement claims. the day of closing should be a cause for celebration. you should discuss the matter with your agent. 13. For an additional one-time cost or no charge at all. keep . unrecorded liens. There are different kinds of title insurance available. If you are uncertain as to what the report says. You should carefully review this report to determine if it describes all of the property you are interested in buying. "Basic" or "Standard" coverage is. Before a title company issues an insurance policy. Ask questions. it will make an investigation to find out if anyone besides the seller claims to own the property. utilize their services throughout the process leading up to the day of closing.

org . It is founded by Mr. 3. And. if necessary.trustedproperty. INTRODUCTION TO THE COMPANY : 2.1 Company Profile (Apeksha Group) : APEKSHA GROUP has early established their corporate office in Chandra Nagar Ghaziabad and it deals in Real Estate sector. Sami Khan. past experience in the field of Marketing. seek advice from a qualified real estate attorney or tax advisor. Ltd. Finance. Apeksha Build Home Pvt. Trusted Property aims to create a system where a Developer can be differentiated with unknown developer. 2. Apeksha Property Serve Pvt. Generally APEKSHA GROUP runs three kinds of business ± 1. Has a concept Trusted Property to show case certified Residential Projects or residential Properties on a portal named www. Ltd. APEKSHA GROUP is a team of professionals having technical expertise. Project Audit and Media for Real Estate Sector. 2. Ltd. Asking questions during the purchase of your home will help insure that you and your family will enjoy your new home for many years to come. Apeksha build home Pvt. Apeksha Media Network. Where information .copies of all documents relating to the purchase of your home.

available for all people.IIT Roorkee M. Rajeev Rai B. ±Management & Marketing From London .) . for retrofitting of buildings against earthquake Indian Building Congress Mr. aims to create transparency in real estate sector. IIT Delhi Member. Satsimar Singh M. OBJECTIVE: Provide cost effectiveness to customers with innovation in marketing. expert comm. UK Mr. where investment risk is minimal.Tech (Civil Engg.) . BOARD OF ADVISOR¶S ± Mr. Sami Khan COO & Consultant MBA ± Marketing & Finance On penal of different banks as a Financial Consultant Mr. Praveen Singh HR in International Business . Ltd.sc. where update of developers project available regularly. In a simple language I can say that Apeksha build home Pvt. where a developer can demand right price for their product. finance.(Structural Engg. media management and engineering.Tech..

Prakash. Usha Group.Chief Operating Officer¶s Profile ± Regarded as one of the foremost corporate leaders of contemporary India.breaking financial innovations in the Indian capital markets. Shri Sami Khan is the chief operating officer of Apeksha Group. What is a Trusted Property? . to show case Certified Residential Projects or Residential Properties on the internet Site. 2. He worked as a financial consultant for many reputed companies like LML. a concept designed by APEKSHA Group.org) Trusted Property. Moserbaer. Surya Roshni etc.2 SERVICES OF APEKSHA GROUP : Apeksha group provide following services to customer ±       Marketing consultancy Project management Finance advisor and Project financing Engineering and Design consultant Media advisor services Selling/ under writing of new projects 2.trustedproperty. He is credited with having pioneered a number of path. He has used number of tools and techniques in real estate sector. He worked as a finance and marketing consultant for than 18 years and involved into real estate companies as a General Manager for the last six years.3 APEKSHA GROUP¶S CONCEPT-----³ TRUSTED PROPERTY´ (www.

y y y y y y A Property with Clear Title. 2. Bankers. y An Opportunity to Show-case all your projects on internet. Venture Capitalist & Others. y To Encourage Healthy Competition. Clear Status & Surety of finance / Home Loan. Financial institution. . A Property easily saleable. y Another additional advantage for real estate developer ± y Easy Information Available not only to Customers but to Bankers. 2. corporate investors.5 WHY SHOULD PEOPLE LOOK FOR TRUSTED PROPERTY? y For the following reason there is need of trusted property for peopley One Stop Source for Legal. y No Need to give papers to HFC ( Home Finance companies). y Extend Help to Customers to take Right Decision y Project Information & Documents available on 3rd Party site. y VALUE for MONEY. A Property Developed by a Certified Developer. Investors and also from GOVT. y A system to Create Image of your Company.4 What is the requirement of TRUSTED PROPERTY for Real Estate Developers? y For the following reason need of trusted property for real estate developery STAND OUT in CROWD as real Developer of Real Estate. A Property where Customer can take fast action without wasting time in due diligence. A Property with better future Appreciation. Approved Maps & Finance-able. y Get Recognition / Appreciations from Customers. Technical & other information of the Project of the Developers.

availability of disposable incomes. fall in prices due to increased competition. y Developer can demand right price for their product. Home Loan availability. hardworking employee shows very bright future of Apeksha Group. increasing awareness of people regarding property documents. 2. y Where investment risk is minimal. government support regarding transparency in real estate.y One Stop Source to judge the available opportunity for purchase of house/flat/land. Security and Surety of Investment. y Safety. y Construction stage. growth of media. improvements in technology. Fresh availability & Etc.6 OBJECTIVE OF TRUSTED PROPERTY ± y Create a system where a Developer can be differentiated with unknown developer. reduction in bank loan rate. y Customer Forum for each project. y A unique concept to understand and perform the right of customers. Price Movement. growth in consumer base of rural sector. smart management decision. y Where Customer cannot be cheated. . y One stop Awareness site for Real Estate. y Platform to share problems and find solutions. y Authenticity of Property of a developer from the 3rd party. Special Facilities. y Get help in case of problem with the developer. y Where update of project available regularly. 2. y Continuous watch on the project. emergence of double-income families.7 FUTURE PROSPECT OF APEKSHA GROUP : With easy availability of finance. y Where information available for all.

1 OBJECTIVES OF THE STUDY Project has mainly three following objective- 1. 2. To determine the customer¶s perception. It increases my confidence on professional ground by dealing with high profile corporate that are very hard to convince. To determine the problems faced by the customers while buying a house. 3. RESEARCH METHODOLOGY: What is research? Research can be defined as a scientific and systematic search for pertaining information on a specific topic. As for as company¶s benefit is concerned. It helps me in getting an idea of Real Estate industry and its importance in our life.3. analysis and reporting of data and findings relevant to a specific situation facing the company. this project helps company to know its market condition and level of competition. Also it helps in creating . The main aim of research is to find out the truth which has not been discovering yet. collection. To determine the customer¶s expectations. We define research as the systematic design. 3. 3.2 SCOPE OF THE STUDY : The project undertaken makes me able to improve my professional skills and expertise.

Its seeks to find out how people get along in the setting under question. Exploratory research helps in determine the best research design. exploratory research often concludes that a perceived problem does not actually exist. 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.3 DATA COLLECTTION METHODS :1. . what type of documents they check while buying or searching property. RESEARCH DESIGN :A survey research method was the basic research design. data collection method and selection of subjects. Given its fundamental nature. technical and financial transparency between project developer and customer. Exploratory research is a type of research conducted because a problem has not been clearly defined. The survey is based on questionnaire filling method and limited to some parts of Delhi and NCR region. what type of information they want from real estate project developer and Government.Exploratory and Descriptive. In order to accomplish the objectives of the project a survey has been conducted amongst customers of the real estate market. 3.awareness to consumers regarding property documents and in promotion of their services. Questionnaire is having questions regarding the respondent¶s basic information such as contact details. TYPE OF RESEARCH: . I interact with personally to people through questionnaire filling method. and what issues concern them. The survey is restricted to the information needed to show legal. designation. Primary data are collected through questionnaire method which is design to keep in view the objective of the study. what meaning they give to their actions.

5 DATA PROCESSING:Daily data was entered into MS-Excel sheets. The sample size consisting of 300 employee of these region. Gurgaon.4 SAMPLE DESIGN:Study of the geographical area comprising of Delhi. The data sheets mentioned here are attached in the annexure of the report. 3. and published reports by various institutions. 3. Generally I met with the employees related to the top management of the companies.2. Secondary data is collected through internet sources. . Ghaziabad. Noida. Faridabad were undertaken. After the exhaustion of the specified geographical area this data was analyzed using SPSS () graphical and tabulation techniques. research papers. It has tried to cover corporate offices of different industries in these regions.

0 ow ner govt.0 100.3 .3 99.4.0 Cumulativ e Percent 86.0 10.3 . business private .3 .3 100..0 3.0 10.0 3.3 89. owner Total Total Frequency 258 9 31 1 1 300 300 Percent 86. profession type Valid Percent 86.3 100.3 100.DATA ANANLYSIS AND INTERPRETATION :Q) The professions of the people I met««.3 .0 Vali d private business govt.7 .

I met with total 300 people out of which 10.Because they have bought house or they are in process of buying any house.During the survey I visited many Government and Private Offices to meet with people who can give me proper response of my questionnaire. 86 %(258) people are doing Private services and 3 % (9) people are doing business. But generally I choose to met people having age more than 30 years .People are in age group 41-50 years and more than 40 years are having 22%.7%. . 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 Count 0 20-25 25-30 30-40 41-50 age f a erson I met with people having different age.3% (31) people are doing Government services . 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.

Q: How much are you satisfied from real estate marketing information provided by real estate companies? Frequen y Valid highly a i ied a i ied neu ral di . Many people ¡ ¢  ¡   ¢  ¡   ¢  ¡     a i ied ¢  ¡     .a i ied o al o al 3 93 64 126 13 1 300 300 Percen 10 31 0 21 3 42 0 43 3 100 0 100 0 Valid Percen 10 31 0 21 3 42 0 43 3 100 0 Cu ula ive Percen 13 32 3 53 7 95 7 100 0 3 highly di .a i ied highly di .a i ied neu ral 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 .a i ied highly a i ied di .

We can make most of the customers satisfied by ± 1. 100.7 56.3 % people are strongly dissatisfied from the marketing details provided by the real estate companies. 84. £ Total £ 7 2. y Marketing information provided by real estate developers is condition based.7 15.3 £ £ £ £ ¦ § ¦ ¦ ¥ ¤ ¦ alid rint media t & radi internet utdoor add personal referen e br ker tal 124 21 16 41. 3.3 41.7 15. ¥ ©  ¨ © .7 £ 100.3 7. developers do not share the negative side of project.3 2.3 53.3% people are neutral. By asking the developers to provide each (negative and positive) marketing detail without any terms and conditions in their broacher. 28. Q: What source of information do you prefer while buying/ searching for a property? 86 46 300 300 28. 5.3 48.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.3 7. y The paper work is a bit different from that of the actual work. 2.3 100.3 § § § requen y § Per ent  alid Per ent umulati e Per ent 41. 21. y In the marketing information broacher.who are satisfied with the marketing information provided by developer . 31 % people are satisfied and 4. The reason of this strange result in simple languages is as followsy Builders do not give complete marketing information in their broacher. By making the people aware of all the legal and technical documents which are needed while going to buy a house. Creating awareness about all the marketing details. 5.3 100.

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. Outdoor advertisement are having 5. and 2. 15.3 %) and personal reference (28. Because in a single click they can reach to a number of builders and their projects. Broker.3 Choose your preferable location and types of house you want to purchase?      ! " #  ! print media internet ersnal reference rker  ert . And other sources like Internet.Count t radio out oor add what s r f f rmat r f r while sear hin f r a r The above Table and chart shows that most of the people prefer Print media (41. 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 say that search of property through internet is very comfortable. Many people were saying that buying or searching house or property through broker is not safe because of their dual nature . QUS. 7%.3% respectively. TV & Radio.3 %.Generally they are making hype of the developers¶ project and hide negative side of the project.3%.7 %) for searching house or property.

7 3.0 16.0 100. of Ghaziabad and Noida with 27% and 16.3 27.3 89.3 99.7 3.3 100.3 73.0 Cumulative Percent 46.0 16.7 100.3 27.3% respectfully.0 Valid Total Frequency new delhi 139 ghaziabad 81 noida 49 gurgaon 20 others 9 faridaba 1 new delh 1 Total 300 300 Percent 46.3 100.3 99.7 96.area of preference Valid Percent 46.3%).0 160 140 120 100 80 60 40 Count 20 0 new delhi ghaziabad noida gurgaon others faridaba new delh area of preference Majority of the people prefer Delhi as the location (46. then comes the no.3 6.3 6.3 .3 .0 .0 . Gurgaon stands fourth .

3 5.0 3.0 3.0 u ulati e Pe ent 91. The choice of area depends on the monitory condition and the facilities available to people at a particular area.0 100.3 5.7 100. and marketing details- prioriority mongst the three Valid Pe ent 91.0 equen y alid p ope ty do u ents a ketind details past e o ds Total 274 15 11 300 300 Pe ent 91. past record of builders.0 Total .  The demand for 2 BHK is bit less and varies from 15-20 lakhs.  There is not great demand of Penthouses and villas in Delhi and NCR region.  The demand for 1BHK is not much.  People want 4 BHK in the range of 55 to 60 lakhs. Q: Consumers preference of information related to property document from Real Estate web portal.7 100.  Most of the people want 3 BHK in NewDelhi area with price ranging from 35 to 55 lakhs.7%.  Most of the people who are doing job or having business who want to purchase 3 BHK or 4 BHK prefer luxury house.3 96.with 6.3 100.

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 .300 200 100 Count 0 property documents marketind details past records prioriority amongst t e t ree 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.

Out of 300 people.0 100.156 said µno¶ to this comprising of 52% of the whole population. QUS. Very less people say the answer as µNo¶.7 52.7 52.In this question.0 Vali yes no can't say Total Total Frequency 107 156 37 300 300 Percent 35.3 100. 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.0 Cumulative Percent 35. .4: Do the Real Estate developers give possession timely? Vali Percent 35.0 12.7 87. and least no of people have µNo reply¶.0 can't say yes no The answer of majority was not in favor.7 100. Whereas 106 said µYes¶ and Rest were in two minds.3 100.0 12.

3% of the total answers.3 18.7 49. 32% said yes and 18% didn¶t knew where to go. Q.0 a d yes no can't say ota Tota requency 98 148 54 300 300 ercent 32.Q: Do you think govt.3 18.0 100.7 82.7 49. . Cross Tabulation of the Place of preference & the Type of House which a person likes to have. takes necessary steps to provide house to the common man? a d Percent 32.0 100.0 Cumu at ve Percent 32.0 100.0 100.0 can't say yes no Majority said µNo¶ when asked this question and comprised of 49.

Count place of preference of a person new del i ghaziabad noida gurgaon faridabad 4 2 5 1 24 25 15 7 3 84 42 27 12 1 15 9 3 5 2 2 129 78 1 51 25 6 11 others 3 6 2 Total 12 77 172 36 3 300 type of 1BHK ouse a 2BHK customer 3BHK prefers 4BHK PENT HOUSE Total 100 80 place of preference 60 new delhi ghaziabad 40 noida gurgaon faridabad 0 1BHK 2BHK 3BHK 4BHK PENT HOUSE others 20 Count 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: .

y Majority of the public want 3BHK houses (i.e. 172) and that too the demand is the most in Delhi (82). y The least is the demand of the Pent Houses (total-3), which were in Delhi and Noida region. y There is very less demand of 1BHk houses in the NCR region which is evenly distributed throughout. y The demand for 2BHK houses comes second in the list with 77 out of 300 going for it. This is mainly concentrated in Delhi and Ghaziabad area. y 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 10 15 place of new delhi 5 preference ghaziabad 4 of a noida 5 person gurgaon 1 faridabad others Total 15 AMOUNT WILLING TO PAY in LAKHS 16 25 26 35 36 45 46 55 above 55 18 60 36 8 2 17 32 17 7 1 13 20 10 1 2 6 10 7 1 2 1 1 1 1 4 6 1 56 127 77 19 6 Total 129 78 51 25 6 11 300

The graph below is self-explanatory:

lace of reference
new el i aziabad noida gurgaon


faridabad ot ers above





According to the cross tabulation of the amount a person is willing to pay at a particular place the results came out to be: y Maximum people wanted to pay the amount ranging from 26-35 lakhs. y The situation is same at all the places. y Then comes the range between 36-45 lakhs. This trend is mainly at the places like New Delhi, Ghaziabad, Gurgaon and other places. At Noida and Faridabad areas people prefer 16-25 lakhs range. Q. Cross Tabulation between the type of house a person is willing to buy and the amount he is willing to pay.

Count AMOUNT WILLING TO PAY in LAKHS 10-15 16- 5 26-35 36-45 46-55 above 55 10 1 1 2 43 20 11 1 3 12 107 45 5 21 11 4 1 15 56 127 77 19 2 6 Total 12 77 172 36 3 300

type of 1BHK house a 2BHK customer 3BHK prefers 4BHK PENT HOUSE Total

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

and 26-35. y The demand for 2BHK houses comes next with price ranging from 16-25. y The demand for Penthouses is very less. .t e of ouse a cust BHK 2BHK 3BHK ount 4BHK PENT HOUSE above AMOUNT I ING TO AY in AKHS Analysis of the three cross-tabulations: y Majority of the people wanted 3BHK houses with price ranging from 26-45 lakhs in New Delhi. y The demand for 2BHK houses is also there in range between 26-35 and 3645 lakhs and mainly in cities like New Delhi and Noida. y Also the majority of people want to live in Delhi.

Q. Some wanted the Web portal to highlight the full information of the Developer.) Acquisition letter Payment receipts Power of attorney of land. like people said they They didn¶t know. 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.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. Registry Map approval doc. Some said they want the timely information.C. They wanted Transparency.Khatauni Sale deed Intakhap paper Paper shows approval from government authority Paper of agreement between buyer and seller No objection certificate (N. y Some even wanted all the legalities to be cleared by the Web-portals and then displayed on it. Kheshara. y y y y y .O. While survey generally people gave name of fallowing property document ± y y y y y y y y y y y y Link chain ownership document. They Wanted the Web portal to provide the complete information. Q: What are your expectations from the web portal? The responses to this question were varied.

y There were people who wanted Hidden costs to be absent. y Some wanted to get rid of the false promises.? y There were varied Responses to this question y Majority said that they wanted to get rid of the brokers. y Some said they wanted the Developers to display their complete information on line and to the customers. y 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.Q: What Problems have you faced while Dealing with the REAL ESTATE DEALERS«««. ..

legal and technical document of the project make consumer more satisfied. Increasing trust of people on real estate web portal.SWOT Analysis of Apeksha Group ± y y y y Strengths ± Team of professional having technical expertise. past experience in the field of marketing. In recent years. Rapid urbanization. y Lack of project developer¶s support in providing the legal and technical documents. y Government policy. y Some illegal services provided by the Broker. By creating awareness regarding the Marketing details. Weakness ± y Failure to curve the activities of the un-organized sector. Project audit and Media for real estate sector. Finance. Opportunitiesy y y y The growing population of India. . A wide range of services on web portal compared to the other web portals. People are becoming more aware. organized sector has increased its share in the market unorganized sector. Threats ± y Tough competition among web portal segment of real estate.

y Most of the people chose information related to the property documents as their first preference compared to the marketing details of the project. .1 Findings: y Most of the people are dissatisfied from the real estate marketing information provided by the real estate companies. and personal reference as a source of information for searching house or property are more satisfied compare to the other sources of information. related to real estate sector. but very few people are strongly satisfied. y Most of the people wanted the government to make policies in terms of legal. y A number of builders do not want to show the property documents to the customers. y 70. y Some of the people check delayed delivery penalty clause while buying a property. 3 BHK house in near future in DELHI and NCR region. y People who have chosen internet. print media. past record of builder and new policies of govt. y There is great demand of 2.5. technical and financial aspects which could create transparency in real estate sector. FINDINGS AND CONCLUSION:- 5. y Most of the people have chosen PRINT MEDIA & BROKERS as a source of information while buying or searching for a property.7% people want to check details of booking before buying or searching house. y 89% people are checking legal status of construction while buying/ searching a house. y Most of the people know only the names of few property documents and they check only these documents while searching a property. brokers.

and are more concerned about the selection of the right type of house for them. Here I have collected the perception and analyzed the expectations of the general public as a whole.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. But majority of the people are still unaware of the documents which they should look for before going to buying a house.5. 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 µTRUSTED PROPERTY¶ to educate people is appreciated in this regard. and collect as much as information from the builders. the total legalities. The conclusion thus is that people need to be more aware of all the documents. . and then only they can do their investment with a free mind.

y Customers should go through all the terms and conditions of the project developed. Ltd. y Customer should be aware of the government¶s policy related to µReal Estate¶. y Company should make more contact with contractors and Architects to tap more builders. . y Company should not always try to attract the new customers only. the database generated through the project should be put to effective use through continuous follow-ups to the potential customers. I want to make certain recommendations as follows ± Recommendation to Apeksha build homes Pvt. y Company should provide information according to people¶s need and necessity. 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. and try to remove their problems and learn from their experience.6. Recommendation to Project Developer (Builder) ± y Builders should show their legal and technical documents to the customers. Recommendation to customer ± y Customers should check all the legal and technical documents and not only the marketing details of the builders/project. And for that they can open daily polling on their web portal. but should also take feedbacks from existing once. ± y First and foremost.SUGGESTIONS: On the basis of my findings. A follow-up should be made on the industry potential as a whole as well. before buying or searching house.

so due to time constraints it was not possible to cover all the area of Delhi and NCR region and mainly Delhi area was covered followed by Noida .LIMITATIONS:y Un-availability of the desired personnel was the biggest constraint to this study. Thus affecting the scientific accuracy. Some of them ignored the questions which were supposed to be filled by them. y No prior information regarding the addresses or other details of the offices to be visited was provided. 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. y This project is completed in six weeks. y Some dealers were hesitating to give supportive data. Ghaziabad and Gurgaon. y Since the data is not evenly collected from the NCR region hence there is a chance of biasness. . thus a few target persons were left uncovered.

Prentice Hall of India ³6th edition y Singh Harpreet±³Research Methodology´-Kalyani Publishers.com y www.in y www.apekshagroup.com .com y www. 68-102) Referred Websites: y www.com y www.trustedproperty.indianrealestateforum. planning implementation and control.google.org y www.scribd. y Schiffman Leon G.indiatimes.com y www. "Consumer Behavior".com y www.& Kanuk Leslie Lazar.economicstimes.com y www.buisnessstanderd.(page no.. 1-8.³Research Methodology´ New Delhi Tata McGraw Hill In (95-102) y Kotler Phillip ±³Marketing management ³analysis.propertywala.BIBLIOGRAPHY Referred Books: y Kothari C.co.R.

service Pvt. 3 to least) a) Property documents b) Marketing details of builder c) past record 2) Tick the options which match your preferable location and types accordingly? Type 1 BHK 2 BHK 3 BHK 4 BHK Penthouses Villas Location New Delhi Ghaziabad Noida Faridabad Gurgaon Others . Service Business Profession- Designation««««««««««««Name of organization/Company««««««««««««. Email«««««««««««««««««««««««. Name««««««««««««««««««««««««««««««««««««« Govt. Contact No. +91-«««««««««.(NOTE-All the information taken from you is only used for research purpose) TOPIC-Understanding the Consumer¶s Perception & Expectations while buying a House. 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.

b) T. Chander Nagar.201011. Ghaziabad(U.3) For the above chosen option how much are you willing to pay? «««««««««««««««««««««««««««««««««««««««««. Devika Towers.P). takes necessary steps to provide house to the common man? a) Yes b) No c) Can¶t say 7) What source of information do you prefer while buying /searching for a property? a) Print media d) Outdoor Add. and Radio e)Personal Reference c) Internet 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 µreal Estate¶ dealers? «««««««««««««««««««««««««««««««««««««««««« «««««««««««««««««««««««««««««««««««««««««« Thank you for sparing your precious time TrustedProperty.V. Phone No.org 710-711. 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 Satisfied d) Dissatisfied b) Satisfied e) Highly dissatisfied c) Neutral 6) Do you think the govt. 0120-4166001 .

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