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

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

Roll. No. - 8002

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



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

Date: 9/7/09 Place: Sahibabad.

Submitted by: Abhishek Kumar Rai



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

Signature of the guide

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



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

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

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

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

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

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

etc. genuine price and various other factors.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. . So after finding the reason of all these we can provide maximum satisfaction to customer. At that time he doesn¶t have a clear cut vision of. he is very confused. that builder. 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. Q) Why study of consumer perception and expectations? Real estate sector is a vital section of Indian market structure. which place. Then at this junction the understanding of perception and knowing the expectations become very much important. 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.

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

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

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

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

It's one of the biggest factors in setting the price of the home. location. Look at and compare many houses in different areas. you will need to budget for utility bills. buying a house is one of the most complicated and expensive purchases you will ever make. Before you make a written offer. If you buy a home that has a homeowner's association. Complete information of how to buy a home or property: 1. you get what you pay for. property taxes. location. 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. For example. Remember: 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. in addition to the monthly principal and interest payments that you will have to finance the purchase of your home. Once you have seen something you like. As with most other things. Make sure that you ask the seller for copies of the past years" bills for these services. assess its location. you will also have to pay association fees. know exactly what you are buying and what the costs will be after you own it.purchase a new flat of the same size at the prevailing market rate. 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. and insurance and maintenance costs. Some homes have special assessments in addition to the regular property taxes. How do I buy a house? Be an informed consumer. .

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

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

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

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

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

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

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

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

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

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

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

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

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. Surya Roshni etc.Chief Operating Officer¶s Profile ± Regarded as one of the foremost corporate leaders of contemporary India. 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.breaking financial innovations in the Indian capital markets. Prakash.org) Trusted Property. 2. Moserbaer.trustedproperty. He worked as a financial consultant for many reputed companies like LML. He is credited with having pioneered a number of path. Shri Sami Khan is the chief operating officer of Apeksha Group.3 APEKSHA GROUP¶S CONCEPT-----³ TRUSTED PROPERTY´ (www. Usha Group. 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. a concept designed by APEKSHA Group.

y y y y y y A Property with Clear Title. A Property easily saleable. A Property where Customer can take fast action without wasting time in due diligence. Venture Capitalist & Others. corporate investors. y VALUE for MONEY. Technical & other information of the Project of the Developers. 2. A Property Developed by a Certified Developer. Clear Status & Surety of finance / Home Loan. . Bankers. Approved Maps & Finance-able.5 WHY SHOULD PEOPLE LOOK FOR TRUSTED PROPERTY? y For the following reason there is need of trusted property for peopley One Stop Source for Legal. y An Opportunity to Show-case all your projects on internet. y To Encourage Healthy Competition.4 What is the requirement of TRUSTED PROPERTY for Real Estate Developers? y For the following reason need of trusted property for real estate developery STAND OUT in CROWD as real Developer of Real Estate. A Property with better future Appreciation. Financial institution. y No Need to give papers to HFC ( Home Finance companies). y A system to Create Image of your Company. 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 Extend Help to Customers to take Right Decision y Project Information & Documents available on 3rd Party site. 2.

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

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

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

Noida. Secondary data is collected through internet sources. Gurgaon. 3. research papers. Faridabad were undertaken. Generally I met with the employees related to the top management of the companies.4 SAMPLE DESIGN:Study of the geographical area comprising of Delhi. . and published reports by various institutions.5 DATA PROCESSING:Daily data was entered into MS-Excel sheets. After the exhaustion of the specified geographical area this data was analyzed using SPSS () graphical and tabulation techniques. Ghaziabad. The data sheets mentioned here are attached in the annexure of the report. It has tried to cover corporate offices of different industries in these regions. The sample size consisting of 300 employee of these region. 3.2.

0 Vali d private business govt..7 .3 . business private . owner Total Total Frequency 258 9 31 1 1 300 300 Percent 86.0 Cumulativ e Percent 86.3 99.0 ow ner govt.3 100.0 100.0 10.3 .0 10.0 3.3 100.3 .3 89.3 .4.3 100. profession type Valid Percent 86.0 3.DATA ANANLYSIS AND INTERPRETATION :Q) The professions of the people I met««.

7%. 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) 5.3% (31) people are doing Government services . 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. . My target was to meet service class people because they are educated and they are having capability of buying house or any experience of buying house or any property. 300 200 100 Count 0 20-25 25-30 30-40 41-50 age f a erson I met with people having different age.People are in age group 41-50 years and more than 40 years are having 22%. 86 %(258) people are doing Private services and 3 % (9) people are doing business. I met with total 300 people out of which 10.During the survey I visited many Government and Private Offices to meet with people who can give me proper response of my questionnaire.

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 . Many people ¡ ¢  ¡   ¢  ¡   ¢  ¡     a i ied ¢  ¡     .a i ied highly di .a i ied neu ral With the help of above pie chat and table it is clear that majority (42%) of people are dissatisfied and very less proportion (1%) of people are highly-satisfied with the marketing information provided by the real estate companies .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 .

3 100. 21. 2.3 7. 5. The reason of this strange result in simple languages is as followsy Builders do not give complete marketing information in their broacher.3 % people are strongly dissatisfied from the marketing details provided by the real estate companies. y The paper work is a bit different from that of the actual work.3 7. y Marketing information provided by real estate developers is condition based.3% people are neutral. By making the people aware of all the legal and technical documents which are needed while going to buy a house. 84. 28. 100.3 £ £ £ £ ¦ § ¦ ¦ ¥ ¤ ¦ alid rint media t & radi internet utdoor add personal referen e br ker tal 124 21 16 41. Creating awareness about all the marketing details. Q: What source of information do you prefer while buying/ searching for a property? 86 46 300 300 28.3 § § § requen y § Per ent  alid Per ent umulati e Per ent 41. 5.3 53.who are satisfied with the marketing information provided by developer .7 15. £ Total £ 7 2.7 56. 31 % people are satisfied and 4. y In the marketing information broacher.3 2.7 £ 100.3 48. We can make most of the customers satisfied by ± 1.7 15. ¥ ©  ¨ © .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. 3.3 41. By asking the developers to provide each (negative and positive) marketing detail without any terms and conditions in their broacher. developers do not share the negative side of project.3 100.

Because in a single click they can reach to a number of builders and their projects. Many people say that search of property through internet is very comfortable. Outdoor advertisement are having 5. 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. 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.3 %) and personal reference (28. Broker. TV & Radio.3 %. And other sources like Internet.Generally they are making hype of the developers¶ project and hide negative side of the project.3% respectively.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. and 2. QUS. 15. 7%.7 %) for searching house or property.3%. Many people were saying that buying or searching house or property through broker is not safe because of their dual nature .3 Choose your preferable location and types of house you want to purchase?      ! " #  ! print media internet ersnal reference rker  ert .

then comes the no.3 27.3 73.3 99.7 100.0 Cumulative Percent 46.area of preference Valid Percent 46.3 27.7 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 46.0 160 140 120 100 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 (46.3 100.0 .0 .0 100.3% respectfully.0 16.3 6.3%).3 100. of Ghaziabad and Noida with 27% and 16.0 16.3 6.3 .3 89.3 99.7 96.3 . Gurgaon stands fourth .7 3.

7 100.0 3.7%.  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.  People want 4 BHK in the range of 55 to 60 lakhs.7 100. and marketing details- prioriority mongst the three Valid Pe ent 91.0 100.3 5.3 5.0 u ulati e Pe ent 91. The choice of area depends on the monitory condition and the facilities available to people at a particular area.  Most of the people want 3 BHK in NewDelhi area with price ranging from 35 to 55 lakhs.0 3.3 96.with 6. past record of builders.  There is not great demand of Penthouses and villas in Delhi and NCR region.3 100.  The demand for 1BHK is not much.0 Total . Q: Consumers preference of information related to property document from Real Estate web portal.  Most of the people who are doing job or having business who want to purchase 3 BHK or 4 BHK prefer luxury house.

then the marketing details and the past records come.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.

0 100.In this question. Out of 300 people. and least no of people have µNo reply¶. 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.4: Do the Real Estate developers give possession timely? Vali Percent 35.7 87. QUS.0 Cumulative Percent 35.3 100.7 52. Very less people say the answer as µNo¶.0 12. .0 12. Whereas 106 said µYes¶ and Rest were in two minds.7 52.156 said µno¶ to this comprising of 52% of the whole population.0 can't say yes no The answer of majority was not in favor.7 100.3 100.0 Vali yes no can't say Total Total Frequency 107 156 37 300 300 Percent 35.

0 100.0 100.3 18.0 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 32.0 can't say yes no Majority said µNo¶ when asked this question and comprised of 49.0 100.7 49. Q.3% of the total answers.7 49. .Q: Do you think govt. 32% said yes and 18% didn¶t knew where to go.7 82.3 18. Cross Tabulation of the Place of preference & the Type of House which a person likes to have.0 100.0 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


faridabad ot ers above





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

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

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

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

. y The demand for Penthouses is very less. y Also the majority of people want to live in Delhi. and 26-35.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.

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

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

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

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

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

And for that they can open daily polling on their web portal. . Recommendation to Project Developer (Builder) ± y Builders should show their legal and technical documents to the customers. ± y First and foremost. 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. before buying or searching house. y Customer should be aware of the government¶s policy related to µReal Estate¶. 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. y Company should provide information according to people¶s need and necessity. but should also take feedbacks from existing once. A follow-up should be made on the industry potential as a whole as well. y Company should make more contact with contractors and Architects to tap more builders.6. 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. and try to remove their problems and learn from their experience.SUGGESTIONS: On the basis of my findings. y Company should not always try to attract the new customers only.

y This project is completed in six weeks. Some of them ignored the questions which were supposed to be filled by them. 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. Thus affecting the scientific accuracy. Ghaziabad and Gurgaon. 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. . 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 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.LIMITATIONS:y Un-availability of the desired personnel was the biggest constraint to this study.

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

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

Ghaziabad(U. 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. 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.201011.V. 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.org 710-711. b) T.P).3) For the above chosen option how much are you willing to pay? «««««««««««««««««««««««««««««««««««««««««. Devika Towers. Chander Nagar. 0120-4166001 . Phone No.

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