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  • Roll. No. - 8002
  • DECLARATION
  • ACKNOWLEDGEMENT
  • ABHISHEK KUMAR RAI
  • EXECUTIVE SUMMARY
  • 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
  • NEED OF REGULATORY BODY IN REAL ESTATE
  • 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. INTRODUCTION TO THE COMPANY :
  • 2.1 Company Profile (Apeksha Group) :
  • OBJECTIVE:
  • BOARD OF ADVISOR¶S ±
  • Mr. Rajeev Rai
  • Mr. Sami Khan
  • Mr. Satsimar Singh
  • Mr. Praveen Singh
  • 2.2 SERVICES OF APEKSHA GROUP :
  • 2.3 APEKSHA GROUP¶S CONCEPT---³ TRUSTED PROPERTY´
  • 2.4 What is the requirement of TRUSTED PROPERTY for Real Estate
  • Developers?
  • 2.5 WHY SHOULD PEOPLE LOOK FOR TRUSTED PROPERTY?
  • 2.6 OBJECTIVE OF TRUSTED PROPERTY ±
  • 2.7 FUTURE PROSPECT OF APEKSHA GROUP :
  • 3. RESEARCH METHODOLOGY:
  • What is research?
  • 3.1 OBJECTIVES OF THE STUDY
  • 3.2 SCOPE OF THE STUDY :
  • RESEARCH DESIGN :-
  • 3.3 DATA COLLECTTION METHODS :-
  • 3.4 SAMPLE DESIGN:-
  • 3.5 DATA PROCESSING:-
  • 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:
  • 6.SUGGESTIONS:
  • LIMITATIONS:-
  • 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

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

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

0) I NTRODUCTION OF THE SUBJECT 1.ABHISHEK KUMAR RAI TABLE OF CONTENTS CHAPTER 1: 1. 1 7 .5) DATA PROCESSING 28 28 28 29 30 30 23 23 25 25 26 26 27 27 PAGE NO.3) DATA COLLECTION METHOD 3.4) SAMPLE DESIGN 3.0) INTRODUCTION TO THE COMPANY 2.7) FUTURE PROSPECTS OF APEKSHA GROUP CHAPTR 3: 3.3) APEKSHA GROUP¶S CONCEPT TRUSTED PROPERTY 2.6) OBJECTIVE OF TRUSTED PROPERTY 2.5) WHY SHOULD PEOPLE LOOK FOR TRUSTED PROPERTY 2.1) COMPANY PROFILE 2.0) RESEARCH METHODLOGY 3.4) REQUIREMENT & NEED OF TRUSTED PROPERTY 2.1) REVIEW OF LITERATUR CHAPTER 2: 2.1) OBJECTIVE OF THE STUDY 3.2) SERVICES OF APEKSA GROUP 2.2) SCOPE OF THE STUDY 3.

0) LIMITATIONS BIBLOGRAPHY 8.0) DATA ANALYSIS AND INTERPRETATION CHAPTER 5: FINDING AND CONCLUSION 5.0) QUESTIONNAIRE 52 53 54 51 49 50 31 .CHAPTER 4: 4.1) FINDINGS 5.2) CONCLUSIONS CHAPTER 6: 6.0) RECOMMENDATION CHAPTER 7: 7.

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

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

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

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

In the intervening period the builder / developer can obtain the environmental clearance certificate. HFIs are reluctant to take risk and continue to land primarily on salaried urban borrowers. Environmental Impact Assessment Notification: The notification specifies that no construction activity to be taken up. The implementation process needs to be expedited to bring in the required changes. inspite of the approval of plans by the Competent Authority. 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. transport and electricity. 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. In cases where approval has already been granted it is suggested that construction activities should be allowed.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. in the case of future proposed projects the . sewerage. Amendment of (National Housing Board) NHB Act has already been initiated. 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. otherwise the completion certificate will not be given Furthermore. which must be repealed in all the States. till the environmental clearance has been sought. sanitation.

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

etc. Then at this junction the understanding of perception and knowing the expectations become very much important. that builder. he is very confused. So after finding the reason of all these we can provide maximum satisfaction to customer. .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. 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. At that time he doesn¶t have a clear cut vision of. whether to go for this builder. which place. 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. So at that time what is there in the mind of the consumer and what all things he is expecting from the builders.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Price Movement. increasing awareness of people regarding property documents. government support regarding transparency in real estate.6 OBJECTIVE OF TRUSTED PROPERTY ± y Create a system where a Developer can be differentiated with unknown developer. y Platform to share problems and find solutions. reduction in bank loan rate. y Continuous watch on the project. . hardworking employee shows very bright future of Apeksha Group. 2. y Where Customer cannot be cheated. y A unique concept to understand and perform the right of customers. availability of disposable incomes. y Authenticity of Property of a developer from the 3rd party. growth in consumer base of rural sector. y One stop Awareness site for Real Estate. Special Facilities. y Customer Forum for each project. y Where investment risk is minimal. Home Loan availability. smart management decision. y Get help in case of problem with the developer. y Where information available for all. growth of media. y Developer can demand right price for their product.y One Stop Source to judge the available opportunity for purchase of house/flat/land. y Construction stage. improvements in technology. emergence of double-income families. fall in prices due to increased competition. Security and Surety of Investment. Fresh availability & Etc. y Safety. 2.7 FUTURE PROSPECT OF APEKSHA GROUP : With easy availability of finance. y Where update of project available regularly.

3. Also it helps in creating . It increases my confidence on professional ground by dealing with high profile corporate that are very hard to convince.1 OBJECTIVES OF THE STUDY Project has mainly three following objective- 1.3. It helps me in getting an idea of Real Estate industry and its importance in our life. 3. collection. To determine the customer¶s perception. As for as company¶s benefit is concerned. this project helps company to know its market condition and level of competition. 2. We define research as the systematic design. 3. To determine the customer¶s expectations.2 SCOPE OF THE STUDY : The project undertaken makes me able to improve my professional skills and expertise. To determine the problems faced by the customers while buying a house. analysis and reporting of data and findings relevant to a specific situation facing the company. RESEARCH METHODOLOGY: What is research? Research can be defined as a scientific and systematic search for pertaining information on a specific topic. The main aim of research is to find out the truth which has not been discovering yet.

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

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

0 ow ner govt.3 99. business private .0 10.3 .7 . profession type Valid Percent 86..3 100.0 10.3 89.3 .3 .3 100.0 Cumulativ e Percent 86.0 Vali d private business govt.0 3.4.3 100.3 .0 3.DATA ANANLYSIS AND INTERPRETATION :Q) The professions of the people I met««. owner Total Total Frequency 258 9 31 1 1 300 300 Percent 86.0 100.

But generally I choose to met people having age more than 30 years .Because they have bought house or they are in process of buying any house. I met with total 300 people out of which 10.3% (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. 86 %(258) people are doing Private services and 3 % (9) people are doing business. 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%.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.During the survey I visited many Government and Private Offices to meet with people who can give me proper response of my questionnaire.

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

The reason of this strange result in simple languages is as followsy Builders do not give complete marketing information in their broacher.3 2.7 £ 100.7 15.7 56. y The paper work is a bit different from that of the actual work. 21.3 48. 5.7 15.3 100. We can make most of the customers satisfied by ± 1. £ Total £ 7 2.3 41. 100. 2. By making the people aware of all the legal and technical documents which are needed while going to buy a house.3 % people are strongly dissatisfied from the marketing details provided by the real estate companies. By asking the developers to provide each (negative and positive) marketing detail without any terms and conditions in their broacher.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 £ £ £ £ ¦ § ¦ ¦ ¥ ¤ ¦ alid rint media t & radi internet utdoor add personal referen e br ker tal 124 21 16 41. Q: What source of information do you prefer while buying/ searching for a property? 86 46 300 300 28. 5.3 § § § requen y § Per ent  alid Per ent umulati e Per ent 41. 3. y In the marketing information broacher. 28.3 7. Creating awareness about all the marketing details. 84. ¥ ©  ¨ © .3 7. 31 % people are satisfied and 4.3 53.3% people are neutral.3 100. developers do not share the negative side of project.who are satisfied with the marketing information provided by developer . y Marketing information provided by real estate developers is condition based.

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

7 3.0 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 .3 99.3 .7 3.3% respectfully.7 96.3 73. Gurgaon stands fourth .3 6.3 27.3 100.area of preference Valid Percent 46.0 160 140 120 100 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 (46.3 99.0 .3 27.3 .3 6.3 89.0 100.0 Cumulative Percent 46. of Ghaziabad and Noida with 27% and 16. then comes the no.0 16.3%).0 16.3 100.7 100.

0 100.7 100.with 6.3 5.0 Total .  The demand for 2 BHK is bit less and varies from 15-20 lakhs.0 3. Q: Consumers preference of information related to property document from Real Estate web portal.7 100. and marketing details- prioriority mongst the three Valid Pe ent 91. past record of builders.  People want 4 BHK in the range of 55 to 60 lakhs.  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 91.7%.3 100.  The demand for 1BHK is not much. The choice of area depends on the monitory condition and the facilities available to people at a particular area.0 3.3 5.3 96.0 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.  There is not great demand of Penthouses and villas in Delhi and NCR region.  Most of the people want 3 BHK in NewDelhi area with price ranging from 35 to 55 lakhs.

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. Q: Is there any need for any regulating body in the real estate? can't say no 11 yes . then the marketing details and the past records come.

3 100.3 100.156 said µno¶ to this comprising of 52% of the whole population.0 100.0 Vali yes no can't say Total Total Frequency 107 156 37 300 300 Percent 35.0 can't say yes no The answer of majority was not in favor.4: Do the Real Estate developers give possession timely? Vali 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. Very less people say the answer as µNo¶.7 100.0 12. Whereas 106 said µYes¶ and Rest were in two minds. . QUS.In this question.0 12.0 Cumulative Percent 35.7 87. Out of 300 people. and least no of people have µNo reply¶.7 52.7 52.

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 32.3 18.0 a d yes no can't say ota Tota requency 98 148 54 300 300 ercent 32.Q: Do you think govt. 32% said yes and 18% didn¶t knew where to go.0 Cumu at ve Percent 32.0 100.0 100. Q.0 can't say yes no Majority said µNo¶ when asked this question and comprised of 49.3% of the total answers. .3 18.7 49.7 49.7 82.0 100.0 100.

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.

. y Also the majority of people want to live in Delhi. and 26-35. 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 The demand for 2BHK houses comes next with price ranging from 16-25.

Kheshara. Q: What are your expectations from the web portal? The responses to this question were varied. y y y y y .) Acquisition letter Payment receipts Power of attorney of land. They Wanted the Web portal to provide the complete information.10: What all documents you should look before buying house? Peoples are now very conscious about property document. like people said they They didn¶t know.C. Registry Map approval doc. 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.O. Some said they want the timely information. Some wanted the Web portal to highlight the full information of the Developer.Khatauni Sale deed Intakhap paper Paper shows approval from government authority Paper of agreement between buyer and seller No objection certificate (N. 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.Q. y Some even wanted all the legalities to be cleared by the Web-portals and then displayed on it. They wanted Transparency.

. y Some wanted to get rid of the false promises. y Some said they wanted the Developers to display their complete information on line and to the customers.? y There were varied Responses to this question y Majority said that they wanted to get rid of the brokers. 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«««. y There were people who wanted Hidden costs to be absent..

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

technical and financial aspects which could create transparency in real estate sector. y People who have chosen internet. related to real estate sector. y There is great demand of 2. y 89% people are checking legal status of construction while buying/ searching a house. y Some of the people check delayed delivery penalty clause while buying a property. . past record of builder and new policies of govt. and personal reference as a source of information for searching house or property are more satisfied compare to the other sources of information. print media. but very few people are strongly satisfied. y Most of the people know only the names of few property documents and they check only these documents while searching a property. 3 BHK house in near future in DELHI and NCR region. brokers.7% people want to check details of booking before buying or searching house.1 Findings: y Most of the people are dissatisfied from the real estate marketing information provided by the real estate companies. FINDINGS AND CONCLUSION:- 5. y 70. y Most of the people wanted the government to make policies in terms of legal. 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.5. y Most of the people chose information related to the property documents as their first preference compared to the marketing details of the project.

But majority of the people are still unaware of the documents which they should look for before going to buying a house. 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.2 CONCLUSION:- Now a day¶s people who go for buying a house have become more aware about what they should look for and the information they should seek. and are more concerned about the selection of the right type of house for them. and then only they can do their investment with a free mind. and collect as much as information from the builders. the total legalities.5. The conclusion thus is that people need to be more aware of all the documents. .

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

y Since the data is not evenly collected from the NCR region hence there is a chance of biasness. 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 . Some of them ignored the questions which were supposed to be filled by them. . Thus affecting the scientific accuracy. Ghaziabad and Gurgaon. y Some dealers were hesitating to give supportive data. y This project is completed in six weeks.LIMITATIONS:y Un-availability of the desired personnel was the biggest constraint to this study. thus a few target persons were left uncovered. 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 Schiffman Leon G. 1-8. Prentice Hall of India ³6th edition y Singh Harpreet±³Research Methodology´-Kalyani Publishers.in y www.org y www.com y www. planning implementation and control.com .google.& Kanuk Leslie Lazar.indiatimes.buisnessstanderd.³Research Methodology´ New Delhi Tata McGraw Hill In (95-102) y Kotler Phillip ±³Marketing management ³analysis.propertywala.apekshagroup.com y www.trustedproperty.economicstimes.scribd.com y www.BIBLIOGRAPHY Referred Books: y Kothari C.co.R.com y www. 68-102) Referred Websites: y www. "Consumer Behavior".com y www.(page no.com y www..indianrealestateforum.

(NOTE-All the information taken from you is only used for research purpose) TOPIC-Understanding the Consumer¶s Perception & Expectations while buying a House. +91-«««««««««. Email«««««««««««««««««««««««. service Pvt. Contact No. Name««««««««««««««««««««««««««««««««««««« Govt. 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««««««««««««. 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.

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. 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. Phone No. Ghaziabad(U.V.201011. 0120-4166001 . Devika Towers. b) T.P).3) For the above chosen option how much are you willing to pay? «««««««««««««««««««««««««««««««««««««««««. Chander Nagar. 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.

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