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

SUBMITTED BY ABHISHEK KUMAR RAI
Roll. No. - 8002

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

Department of Management INSTITUTE OF MANAGEMENT EDUCATION, SHAHIBABAD

DECLARATION

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

INSTITUTE OF MANAGEMENT EDUCATION G.T.ROAD,SAHIBABAD,GHAZIABAD(U.P)

DEPARTMENT OF MANAGEMENT

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

The successful task would be incomplete without the mention of the people whose constant guidance and encouragement crown all efforts with success. SAMI KHAN (C. Subham Rastogi (Deputy Manager).O. Ms Sudeep Khurana (Deputy Manager) . .without their support I could not complete this project. Ms Pallvi Datta (Deputy Manager). AJAY RAJ SINGH (External Guide. 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. UDYAN GIRI (Manager) and Mr. I would also like to thank Mr. SIDDHARTH VARMA (Internal Guide. First of all I would like to convey my thanks to Dr.O. Mr.) for giving me the opportunity to work and learn with APEKSHA GROUP. Faculty IME) for his constant suggestions which have resulted in successful completion of project I would like to express my sincere gratitude to Mr.ACKNOWLEDGEMENT I take this opportunity to express my sense of gratitude to all those who helped me in completing this project. 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. I would also like to extend my heartiest thanks to Ms Anjali Chauhan (Deputy Manager).

4) SAMPLE DESIGN 3.7) FUTURE PROSPECTS OF APEKSHA GROUP CHAPTR 3: 3.2) SERVICES OF APEKSA GROUP 2.1) REVIEW OF LITERATUR CHAPTER 2: 2.ABHISHEK KUMAR RAI TABLE OF CONTENTS CHAPTER 1: 1.0) INTRODUCTION TO THE COMPANY 2.0) RESEARCH METHODLOGY 3.2) SCOPE OF THE STUDY 3.1) COMPANY PROFILE 2.3) APEKSHA GROUP¶S CONCEPT TRUSTED PROPERTY 2.5) DATA PROCESSING 28 28 28 29 30 30 23 23 25 25 26 26 27 27 PAGE NO.3) DATA COLLECTION METHOD 3.5) WHY SHOULD PEOPLE LOOK FOR TRUSTED PROPERTY 2.0) I NTRODUCTION OF THE SUBJECT 1.4) REQUIREMENT & NEED OF TRUSTED PROPERTY 2.6) OBJECTIVE OF TRUSTED PROPERTY 2. 1 7 .1) OBJECTIVE OF THE STUDY 3.

0) QUESTIONNAIRE 52 53 54 51 49 50 31 .0) LIMITATIONS BIBLOGRAPHY 8.2) CONCLUSIONS CHAPTER 6: 6.0) RECOMMENDATION CHAPTER 7: 7.1) FINDINGS 5.CHAPTER 4: 4.0) DATA ANALYSIS AND INTERPRETATION CHAPTER 5: FINDING AND CONCLUSION 5.

People are not aware about the process of buying a house /property. Finding the expectations of a consumer when he goes to buy a house. I collected data from Delhi and NCR region. Finding all the solution to their perceptions and expectations. The objectives of my questionnaire are as follows ± Finding the consumer¶s perception while he goes to buy a house. People are not aware of the legal and technical documents which they shouldcheck while buying or searching house/property. 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. Few of them are as follows People do not have a well defined expectation from the Developers. 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. Builders not selling their project directly to END User.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¶. I started my survey from PRAGATI MAIDAN New Delhi. People do not know much about the Real Estate sector. For that I targeted to meet people who were doing jobs at top levels in various organizations. . First of all I prepared the questionnaire according to the job given to me. I collected the data of 300 people which has helped me to find out their perception and expectations.

This double-digit growth is mainly attributed to the off shoring business. namely suitable amendments in the Foreign Direct Investment (FDI) guidelines in townships. built-up infrastructure and construction ± development projects as well as abolition of Service Tax on the construction . The future of the real estate sector in India is going to be guided by two important factors. including high-end technology consulting.1. is residential space and the rest comprise office. housing.1 Real Estate Industry in India: The size of the real estate industry in India is estimated by FICCI. hotels and hospitals. OVERVIEW OF REALESTATE INDUSTRY IN INDIA. This figure is growing at a pace of 30% for the last few years. Almost 80 % of real estate developed in India. 1. to be around US$ 12 billion. This is the ideal time to invest in the country as policy makers have begun to emphasize on developing adequate infrastructure for the country. is estimated to have accounted for more than 10 million square feet of real estate development. shopping malls. call centres and software programming houses which in 2003-04. Real estate companies would also do well to maximize their own performance and operational efficiency.

A unit increase in expenditure in this sector has a multiplier effect and the capacity to generate income as high as five times. Estimates worked out show that 42 million sq. FICCI would like to submit the following 10 points for consideration: . Five per cent of the country¶s GDP is contributed by the housing sector. any further imposition of taxes in any form would adversely affect the growth of this sector of the economy.T. of space will be required every year till 2008.industry especially the housing sector. To achieve the much desired growth and development in the Real Estate Segment. Hyderabad and Pune. ft. Chennai. A fast growing area is the I.enabled services especially in the cities like Bangalore.T.T. Conversely. Furthermore. 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.enabled services along with the BPO boom. This Sector is already overburdened with taxes. and I. as an engine of the nation¶s growth. The importance of the Real Estate sector.T. If the economy grows at the rate of 10% the housing sector has the capacity to grow at 14% and generate 3.2 million new jobs over a decade. if the abolition per se is not possible then drastic modifications in the existing Service Tax norms is the need of the hour. and I. only in I. The Real Estate Industry has significant linkages with several other sectors of the economy and over 250 associated industries. One Rupee invested in this sector results in 78 paise being added to the GDP of the State. In the next three or four or five years this contribution to the GDP is expected to rise to 6%. this sector has witnessed a spurt in demand not just in residential property but also in commercial property. which is also now gradually shifting to North India.

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

in the case of future proposed projects the . The implementation process needs to be expedited to bring in the required changes. In cases where approval has already been granted it is suggested that construction activities should be allowed. 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. transport and electricity. HFIs are reluctant to take risk and continue to land primarily on salaried urban borrowers. till the environmental clearance has been sought. sewerage. 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. inspite of the approval of plans by the Competent Authority. Amendment of (National Housing Board) NHB Act has already been initiated. sanitation. otherwise the completion certificate will not be given Furthermore. 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. 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. In the intervening period the builder / developer can obtain the environmental clearance certificate.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. which must be repealed in all the States.

particularly in repatriation of funds. 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. streamlining of Clearance procedures as well as the opening up of the Retail Segment to FDI. governs the procurement of raw land. for the development of townships. Foreign Direct Investment (FDI): Suitable modifications in the FDI guidelines are required. However. clarification on the basic definition of ³built-up area´. no rationale has been provided for exclusion of services in relation to construction of residential bungalows. With the changing investment scenario it has become necessary to review the existing law. to a large extent. 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. This makes builders to create several companies in order to circumvent the archaic laws. a builder is governed by ³Agriculture Land Ceiling Act´ even after the land have been urbanized in the zonal plans / master plans.environmental clearances should be taken by the States themselves or by the planning bodies and not b individual builders. It is submitted that once the land has been urbanized and incorporated in the master plan. which may not form part of µresidential complexes¶. Today. Land Acquisition: The Land Acquisition Act of 1894. still. . then Agriculture Land Ceiling Act should not apply and builders should be permitted to acquire lands as per their requirements. This aspect has been discussed in detail in Section II of this paper.

etc. that builder. he is very confused. whether to go for this builder. So at that time what is there in the mind of the consumer and what all things he is expecting from the builders.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. genuine price and various other factors. 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. which place. So after finding the reason of all these we can provide maximum satisfaction to customer. 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. Then at this junction the understanding of perception and knowing the expectations become very much important. .

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

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

sanctions by the competent offices etc. 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. the promises of the builders have gone for six. will come to the rescue of such erring builders and will force the builders to pay compensation to the consumer. I need to emphasize consumer is not helpless and should not allow the builder to run over him. What do poor and harassed consumers do in such circumstances. district forum. A cheated customer can lodge a complaint with the consumer forums pointing out the deficiency of services by the builder. The interest of the consumer in the real estate lead to heavy bookings of the buildings. 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 . The promising builder has vanished or has started avoiding calls. state commission and National Commission. the law of land supports him in this regard. The builders promised refund of money immediately on cancellation. 1986. some of them also promised assured returns by way of rent. request for refunds. Instead the consumers were led by alluring advertisements issued by the builders. delivery of possession is unheeded. innovation of the concept of pre-launch bookings. 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. The purchaser/consumers have paid the entire sale price/major consideration and they are under debt of bank/financial institutions. A consumer court is divided into three forums namely. the complaint will be filed in the District Forum. if any. The Consumer Protection Act. 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.etc. After the bubble has burst. the flats/commercial space were sold while at the drawing board stage. on account of rise in price of constructing a building. savings have evaporated and there is no sight of completed building. 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. needless to say. promising delivery of possession of constructed building/flat within the stipulated time. Where the value of the property is less than twenty lakhs. He should fight for his right. The consumer never bothered to check the credentials of the builder.

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. One Crore the complaint will have to be filed in the National Commission. layout plan and schematic building plan were not given. such as approval of zoning plan. reported as III (2007) CPJ 185(NC). and thereafter recover the consideration money from the purchaser of the flat/buildings. 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. escalation cost is required to be borne by the builder. wherein the consumer was led by the advertisement of the builder of delivery within stipulated time and consequently on the failure to deliver. it was directed that if the builder chooses to hand over the possession of the flat.the value of the property is in excess of Rs. In another matter titled as Veena Khanna Vs Ansal Properties and Industries limited. layout plan etc. Or in any circumstances. the National Commission. 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 the alternative. adequate compensation ought to have been given so that the complaint could . the order of refund with interest will not come in operation. the National Commission set aside an order of the State Commission. 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. reported as MANU/CF/0069/2007 was faced with a situation. 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 consumer was further burdened with the escalation cost due to such delay. the builder contended that government permissions. thus the delay in construction should not be a ground for grant of compensation to the consumer. wherein the builder was directed to refund the money to the consumer along with the interest @ 13%. because of the rise in the prices of the immovable properties. The builder taking advantage of the order refunded the money. In the matter of DLF Universal Ltd Vs Brig (Retd)Kamal Sood. 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.

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

and in closing the escrow. inspecting the home. dryers. since your agent will be working for both the seller and you at the same time. The agent who helps you find the home is called the buyer's agent. obtaining a loan. The buyer's agent's fee will be paid by the seller when you complete the purchase of the home. check the condition of the house and any appliances. Your agent or escrow holder can provide you with information on these policies. it is advisable to see an attorney who is experienced in the purchase of residential real estate. An attorney can help you with legal and tax questions that come up during the purchase of the home. the home warranty company will insure that the house and the appliances are in working condition. 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. and some roof repairs. For a minimum fee. This is referred to as a dual agency. a real estate agent can represent both the buyer and the seller. Many companies will provide coverage for washers. Most homes are listed for sale by a real estate broker who is referred to as the seller's agent. If you are not sure that you understand all of your rights and responsibilities. window coverings and other items that you want included in the sale. pools and pool equipment.Also. Your real estate agent will also assist you in negotiating the price. In some instances. It is advised that you proceed carefully in this situation. and can assist you in . learning about the community. This must be disclosed to you before you make an offer. 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. The seller's agent represents the seller. Consider purchasing a home warranty. 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. air conditioning. 2.

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

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

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

the less likely the seller is to accept your offer. Carefully discuss the pros and cons of initialing this provision with your agent or attorney. and your election is without good cause. 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. Take the time to go over each and every term of the agreement with your agent before you sign the agreement.home. however. an arbitration provision and a liquidated damages provision. 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. 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. 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. 8. You can. 7. revoke your offer before it is 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. however. and how the brokers will be paid. Please understand. Can I change my mind? You should not make an offer to purchase a house unless you are serious about buying it. How can I get a loan? . There is a mediation provision. the more conditions you have. what will happen if you and the seller have a disagreement over the terms of the sale. This agreement should also set forth what will happen to your deposit if you cancel the sale. This revocation should be in writing. If your offer has already been accepted by the seller. You do not have to agree to this provision.

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

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

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

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

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

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

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

trustedproperty. 2. Usha Group.org) Trusted Property. a concept designed by APEKSHA Group.3 APEKSHA GROUP¶S CONCEPT-----³ TRUSTED PROPERTY´ (www. Shri Sami Khan is the chief operating officer of Apeksha Group. He worked as a financial consultant for many reputed companies like LML.Chief Operating Officer¶s Profile ± Regarded as one of the foremost corporate leaders of contemporary India.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. What is a Trusted Property? . He has used number of tools and techniques in real estate sector. to show case Certified Residential Projects or Residential Properties on the internet Site. He is credited with having pioneered a number of path. Prakash.breaking financial innovations in the Indian capital markets. 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. Moserbaer. Surya Roshni etc.

Technical & other information of the Project of the Developers. corporate investors. Financial institution. A Property with better future Appreciation. Approved Maps & Finance-able. y Extend Help to Customers to take Right Decision y Project Information & Documents available on 3rd Party site. y No Need to give papers to HFC ( Home Finance companies). 2. Clear Status & Surety of finance / Home Loan. Venture Capitalist & Others. .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. 2. y Get Recognition / Appreciations from Customers. y Another additional advantage for real estate developer ± y Easy Information Available not only to Customers but to Bankers. Investors and also from GOVT.y y y y y y A Property with Clear Title. y To Encourage Healthy Competition. A Property easily saleable. Bankers. y An Opportunity to Show-case all your projects on internet. y VALUE for MONEY. A Property Developed by a Certified Developer. A Property where Customer can take fast action without wasting time in due diligence. y A system to Create Image of your Company.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.

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

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

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

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

business private .0 10.0 10.3 100. profession type Valid Percent 86.3 .3 .7 .4. owner Total Total Frequency 258 9 31 1 1 300 300 Percent 86..DATA ANANLYSIS AND INTERPRETATION :Q) The professions of the people I met««.0 3.3 99.0 Vali d private business govt.3 .3 100.3 .0 3.0 Cumulativ e Percent 86.3 89.0 ow ner govt.0 100.3 100.

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. 86 %(258) people are doing Private services and 3 % (9) people are doing business. 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. . I met with total 300 people out of which 10.7%.3% (31) people are doing Government services . But generally I choose to met people having age more than 30 years . 300 200 100 Count 0 20-25 25-30 30-40 41-50 age f a erson I met with people having different age.People are in age group 41-50 years and more than 40 years are having 22%.During the survey I visited many Government and Private Offices to meet with people who can give me proper response of my questionnaire.Because they have bought house or they are in process of buying any house.

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 highly a i ied di . Many people ¡ ¢  ¡   ¢  ¡   ¢  ¡     a i ied ¢  ¡     .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 .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 .

who are satisfied with the marketing information provided by developer .3 % people are strongly dissatisfied from the marketing details provided by the real estate companies. By making the people aware of all the legal and technical documents which are needed while going to buy a house. 28.3 2. 100. Q: What source of information do you prefer while buying/ searching for a property? 86 46 300 300 28.3 7. 31 % people are satisfied and 4.3 7. The reason of this strange result in simple languages is as followsy Builders do not give complete marketing information in their broacher. y In the marketing information broacher.3 53.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. By asking the developers to provide each (negative and positive) marketing detail without any terms and conditions in their broacher.3 41.7 15. y Marketing information provided by real estate developers is condition based.7 £ 100.3 100.3 48. ¥ ©  ¨ © . 2.3 § § § requen y § Per ent  alid Per ent umulati e Per ent 41.7 56.3 100. developers do not share the negative side of project.7 15.3 £ £ £ £ ¦ § ¦ ¦ ¥ ¤ ¦ alid rint media t & radi internet utdoor add personal referen e br ker tal 124 21 16 41.3% people are neutral. £ Total £ 7 2. We can make most of the customers satisfied by ± 1. 3. Creating awareness about all the marketing details. 84. y The paper work is a bit different from that of the actual work. 21. 5. 5.

3%. and 2.3 Choose your preferable location and types of house you want to purchase?      ! " #  ! print media internet ersnal reference rker  ert .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. Broker.7 %) for searching house or property. 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. Because in a single click they can reach to a number of builders and their projects. QUS. Many people were saying that buying or searching house or property through broker is not safe because of their dual nature . 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.Generally they are making hype of the developers¶ project and hide negative side of the project. 15. 7%. And other sources like Internet.3% respectively. Many people say that search of property through internet is very comfortable.3 %. Outdoor advertisement are having 5.3 %) and personal reference (28. TV & Radio.

3 27.0 Cumulative Percent 46.0 Valid Total Frequency new delhi 139 ghaziabad 81 noida 49 gurgaon 20 others 9 faridaba 1 new delh 1 Total 300 300 Percent 46.0 100. then comes the no.7 100.3 73.7 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. Gurgaon stands fourth .7 96.3% respectfully.3 .area of preference Valid Percent 46.3 100.3 89.3 99.7 3.3%).3 100.3 27.3 6.0 16.0 16.0 .0 .3 . of Ghaziabad and Noida with 27% and 16.3 6.3 99.

3 5.  There is not great demand of Penthouses and villas in Delhi and NCR region. The choice of area depends on the monitory condition and the facilities available to people at a particular area.3 100.3 5.0 100.7 100.3 96.  Most of the people who are doing job or having business who want to purchase 3 BHK or 4 BHK prefer luxury house.0 u ulati e Pe ent 91.with 6.  The demand for 2 BHK is bit less and varies from 15-20 lakhs.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.  The demand for 1BHK is not much. past record of builders. and marketing details- prioriority mongst the three Valid Pe ent 91.  Most of the people want 3 BHK in NewDelhi area with price ranging from 35 to 55 lakhs.0 3.0 3.0 Total .7%.  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.

3% of the total responses. 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. then the marketing details and the past records come.

QUS.0 Cumulative Percent 35.3 100.7 87.0 100.In this question.0 Vali yes no can't say Total Total Frequency 107 156 37 300 300 Percent 35. 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 12.3 100. Out of 300 people.4: Do the Real Estate developers give possession timely? Vali Percent 35.0 can't say yes no The answer of majority was not in favor. and least no of people have µNo reply¶.0 12.7 52.7 52.156 said µno¶ to this comprising of 52% of the whole population. .7 100. Whereas 106 said µYes¶ and Rest were in two minds. Very less people say the answer as µNo¶.

Q.0 100. .7 49.3 18.Q: Do you think govt.0 100.0 a d yes no can't say ota Tota requency 98 148 54 300 300 ercent 32. takes necessary steps to provide house to the common man? a d Percent 32.7 82. 32% said yes and 18% didn¶t knew where to go.0 100.0 100.0 can't say yes no Majority said µNo¶ when asked this question and comprised of 49.3% of the total answers.3 18. Cross Tabulation of the Place of preference & the Type of House which a person likes to have.7 49.0 Cumu at ve Percent 32.

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

ount

faridabad ot ers above

AMOUNT

I

ING TO AY i

AKHS

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.

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. . and 26-35. y The demand for 2BHK houses comes next with price ranging from 16-25. 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. y The demand for Penthouses is very less.

Registry Map approval doc. They were saying that while buying or searching property they check property document. 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. y y y y y . They wanted Transparency. like people said they They didn¶t know. Some wanted the Web portal to highlight the full information of the Developer.) Acquisition letter Payment receipts Power of attorney of land.C. Kheshara.O. y Some even wanted all the legalities to be cleared by the Web-portals and then displayed on it.10: What all documents you should look before buying house? Peoples are now very conscious about property document. Some said they want the timely information. 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.Q.Khatauni Sale deed Intakhap paper Paper shows approval from government authority Paper of agreement between buyer and seller No objection certificate (N. 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 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. . y Some wanted to get rid of the false promises.Q: What Problems have you faced while Dealing with the REAL ESTATE DEALERS«««.? 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..

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

5. y There is great demand of 2. y Most of the people wanted the government to make policies in terms of legal. but very few people are strongly satisfied. . y 89% people are checking legal status of construction while buying/ searching a house. y People who have chosen internet. y Some of the people check delayed delivery penalty clause while buying a property. past record of builder and new policies of govt. FINDINGS AND CONCLUSION:- 5. technical and financial aspects which could create transparency in real estate sector. y Most of the people know only the names of few property documents and they check only these documents while searching a property. and personal reference as a source of information for searching house or property are more satisfied compare to the other sources of information. y Most of the people have chosen PRINT MEDIA & BROKERS as a source of information while buying or searching for a property. y A number of builders do not want to show the property documents to the customers. y 70. brokers. related to real estate sector. y Most of the people chose information related to the property documents as their first preference compared to the marketing details of the project.7% people want to check details of booking before buying or searching house. print media. 3 BHK house in near future in DELHI and NCR region.1 Findings: y Most of the people are dissatisfied from the real estate marketing information provided by the real estate companies.

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

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

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 . y This project is completed in six weeks. thus a few target persons were left uncovered. y Since the data is not evenly collected from the NCR region hence there is a chance of biasness. Ghaziabad and Gurgaon. 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.LIMITATIONS:y Un-availability of the desired personnel was the biggest constraint to this study. . 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. y Some dealers were hesitating to give supportive data. Thus affecting the scientific accuracy.

scribd. planning implementation and control.google.R. Prentice Hall of India ³6th edition y Singh Harpreet±³Research Methodology´-Kalyani Publishers.buisnessstanderd. 1-8. "Consumer Behavior".apekshagroup.indianrealestateforum.co.org y www.³Research Methodology´ New Delhi Tata McGraw Hill In (95-102) y Kotler Phillip ±³Marketing management ³analysis.(page no.& Kanuk Leslie Lazar.com .com y www.BIBLIOGRAPHY Referred Books: y Kothari C.propertywala.in y www..com y www.com y www. 68-102) Referred Websites: y www.indiatimes.com y www.trustedproperty.com y www.economicstimes. y Schiffman Leon G.com y www.

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 . 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. Contact No. Name««««««««««««««««««««««««««««««««««««« Govt. Service Business Profession- Designation««««««««««««Name of organization/Company««««««««««««. service Pvt. +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.

Phone No.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 Satisfied d) Dissatisfied b) Satisfied e) Highly dissatisfied c) Neutral 6) Do you think the govt.201011. Devika Towers. 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. b) T.org 710-711. 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. 0120-4166001 .V. Chander Nagar. Ghaziabad(U.P).

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