Report on Data, Models, and Estimation of Market Shareof Builders Operating in the Luxury (High-End)Residential Segment of Gurgaon
by
QuBREX - QuBit Real Estate eXchange
(A Unit of QuBit Technologies Pvt. Ltd)Registered Office: 1/926, Naiwala, Karol Bagh, New Delhi – 110005Branch Office: 3311, Sector 23, Gurgaon, Haryana – 122017www.QuBREX.com 9811987371, 9871219911
May 08, 2011
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Table of Contents
1.
Objective of the Report ..................................................................................................................... 3
2.
Context of the Report ........................................................................................................................ 3
3.
Concept (and Mis-Concept) of Market Share of an Enterprise ......................................................... 4
a.
Definition of Market Share............................................................................................................. 4
b.
Mis-Concept of Active Stock to Measure Market Share in JLL & Genesis Models ..................... 4
c.
Misrepresentation of Accuracy of Data In JLL’s “Active Stock” (Market Share) Calculations .... 8
d.
Misrepresentation of Continuous Reality by Discrete Temporal Snapshots in Jones Lang LaSalle(JLL) & Genesis Models ....................................................................................................................... 9
e.
Limitations of the JLL and Genesis Data & Models ...................................................................... 9
4.
Relevant Geographic Market ........................................................................................................... 11
5.
Relevant Product Market ................................................................................................................. 16
f.
Data Collection & Creative Commons License ........................................................................... 17
g.
Accuracy of Data & Information Collected ................................................................................. 18
h.
Definition of Luxury Product in Relevant Geographic market .................................................... 19
i.
Luxury Market Share (i.e., above Rs 7000 psf) of Various Builders Over The Years ................. 22
i.
Market Share By Completed Properties ................................................................................... 24
ii.
Market Share By Launched (Incl. new launches, under construction property, andcompleted) Properties ...................................................................................................................... 35
j.
Real Estate, Luxury, & Location .................................................................................................. 46
6.
DLF's Pioneering “Walk to Work” Integrated Township of Gurgaon ............................................. 48
7.
DLF & Consumer Preferences ........................................................................................................ 53
8.
DLF & Sales Organizers Preferences .............................................................................................. 54
9.
Conclusion of the Report ................................................................................................................. 55
10.
About QuBREX ........................................................................................................................... 56
11.
Appendices ................................................................................................................................... 57
k.
Appendix A – List of Group Housing By Private Builders In Gurgaon ....................................... 58
l.
Appendix B – DLF Takes Steps To Keep Speculators At Bay ..................................................... 74
m.
Appendix C – Check Out These Super Luxury Flats ............................................................... 75
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1. Objective of the Report
The report was made at the request of DLF Park Place Residents Welfare Association and BelaireOwners Association, with reference to Cases 18 & 19 of 2010 in the Competition Commission of India.The objectives of the report were to:1.
Collect specific data for residential projects in Gurgaon including launch dates, possessiondates, number of apartments, current prices (March 2011) of accommodation, and their locations. The list of residential projects has been enumerated in Reports of Jones Lang LaSalle(JLL) (Mar 04, 2011) and Genesis (Mar 15, 2011).2.
Collect additional relevant data and information about the builders, their customers, and marketforces that help describe the property eco-system in Gurgaon.3.
Study the models put forth by JLL and Genesis and provide expert comments on whether themodels are in agreement with the property eco-system of Gurgaon.
2. Context of the Report
Cases 18 & 19 of 2010 have been filed in the Competition Commission of India, alleging that DLF is adominant player in the relevant geographic and product market, and relief is sought from the augustCommission. The Competition Act (2002) and the Competition (Amendment) Act (2007) lay down inSection 19 of the said Act the Duties, Powers And Functions of Commission, and this report is a study
of the property market in light of Clauses 19 (4) (6) & (7).
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DLF vs Belaire & Park Place Owners - Report by Qubrex Submitted to CCI (Competition Commission of India)Final Report May 08 2010 - Completed Projects - Part Appendix
Qubrex, a Real Estate Brokerage & Consultancy Service, has submitted a report "Data, Models, And Estimation of Market Share of Luxury (High End) Properties in Gurgaon" to the Competition Commission of India in a Case of…
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