SUMMER TRAINING PROJECT REPORT

ON
COMPARITIVE MARKETING STRATEGIES IN REAL
ESTATE
SUBMITTED TOWARDS PARTIAL
FULFILLMENT
OF
BACHELOR OF BUSINESS ADMINISTRATION
Academic Session
(2017-2020)

Submitted By:

Prerak Garg

BBA (G) 1st Shift

51014901717

DEPARTMENT OF BUSINESS ADMINISTRATION

MAHARAJA SURAJMAL INSTITUTE

(Affiliated by Guru Gobind Singh Indraprastha University)

(C-4, Janakpuri, New Delhi – 110058)

 DECLARATION

I, Prerak Garg student of BBA(G) session 2017-2020, declare that

the present work titled “Marketing Strategy of real estate with special
reference to Ajnara India Ltd” is an original work. I anywhere else for
the award of any degree/diploma/certificate or for any prize have not
submitted this project report. All the data given in the report are to the
best of my knowledge and all the references which of any person or
organization can be crosschecked.

Prerak Garg

51014901717

ACKNOWLEDGEMENT
I take this opportunity to express my sincere thanks and deep gratitude to all
those people who extended their whole hearted co-operation and helped me in
completing this project successfully.

Special thanks to Mrs.Pooja Rastogi, Chairperson BBA and Mrs.Shanky

Tyagi, project mentor for all the help and guidance extended to me by them.
Their inspiring suggestions and timely guidance enabled me to perceive the
various aspects of the project in a new light.

Prerak Garg

51014901717

PREFACE
The research report program is designed to give the impact to a candidate who would be a
manager in future. It gives experience of current happenings and market position. The real
life situation is entirely different from stimulated exercise enacted in an artificial classroom, it
is because of this reason the research program is designed so that the managers of tomorrow
doesn’t feel odd when the time comes to hold the responsibility.

The experience that I have gathered during my project work in the market has certainly
provided me a great experience, which I believe that will help me to hold any responsibility
which comes along my way in future.

By going through this report one can find my work is more informative and interesting. The
findings and result give clear information of perceptions of different customers. Of course,
every study has a limitation, so in this study there are some which is listed at the last.

TABLE OF CONTENTS
Chapter No. Topic Page No.

1. Objective of the study 06

2. Industry Profile
2.1) About real estate 07-08
2.2) Marketing Strategy of Real Estate 08-10
2.3) Future of real estate 10-11
2.4) Real estate still best despite global turmoil 11-13
2.5) Opportunities and challenges 13-16
2.6) Why invest in Indian Real Estate? 16-18
2.7) Impact of economic slowdown in real estate 18
2.8) Entrance of Indian Companies in foreign market 19-21

3. Company Profile
3.1) About the company- Ajnara India Ltd 22
3.2) Board of Directors 22-23
3.3) Product of Company 24-29
3.4) Anti Corruption & Bribery Policy 29-32
3.5) SWOT Analysis 32-33
3.6) CSR of Ajnara India Ltd 33-34
3.7) USP’s of Ajnara India Ltd 35-37
4. Research Methodology
4.1) Research Objective 38
4.2) Research Design 38
4.3) Data Sources 38
4.4) Sampling-Method, Size, Location 39
4.5) Data Collection 39
5. Data Analysis & Interpretation 40-54

6. Findings 55-56

7. Conclusion 57

8. Recommendations 58
9. Bibliography 59

10. Questionnaire 60-62

 ABSTRACT

In a generation led by millennials, technologies are becoming redundant each year. The
organisations are competing on a global scale and newer and innovative strategies are
introduced in the field of marketing to reach out to the potential buyers. Real Estate, being
one of the biggest business sectors, needs more efficiently targeted marketing campaigns as
this is a very niche and unexplored field in the Indian scenario.
Real Estate projects are highly priced products which cannot be sold efficiently without a
well strategized marketing campaign so as to reach out to the exact targeted market.
Through this study, efforts have been made to pin point the existing supply-demand problems
in the cities of Ahmedabad and NCR in the affordable and HIG housing sector specifically.
Also, suitable solutions for marketing campaigns have been proposed considering the current
market realities for both cities.
 OBJECTIVES OF STUDY

a) To identify the demand of real estate projects in Ghaziabad.

b) To identify the factors affecting this sector.

c) To measure the impact of economic slowdown on real estate in Ghaziabad.

 RESEARCH METHODOLOGY

2.1) Research objective

To identify the different factors affecting the real estate sector in Ghaziabad.

2.2) Research design

Exploratory research design

2.3) Data sources

Data was collected through two sources:

a) Primary Source: Primary data was collected directly from the customers
through a questionnaire.
b) Secondary Source: The secondary source was the company website and
publication.

2.4) Sampling

a) Sample Size

Sample Size refers to the number of respondents that researcher have selected for the survey.

I have selected 100 customer from different industries, malls and individual customers.

b) Sampling Technique

The sample design provides information on the target information and final sample sizes.
Sample design is sometimes used in a clearly defined sense, with reference to a given frame,
as the set of rules or specification for the drawing of a sample.

c) Sampling Location- Kavi Nagar, Raj Nagar, Nehru Nagar

 d) Method of sampling

Convenient sampling is used to conduct the research as all the customers in the malls, sites
and restaurants are surveyed.

2.5) Data Collection Tool

I have used Questionnaire, as the research instrument to conduct market survey. The
questionnaire consisted of a mixture of open and closed questions designed in such a way that
it should gather maximum information possible.

The questionnaire was a combination of 18 questions. If choices are given it is easier for the
respondent to respond from the choices rather they think and reply also it takes lesser time.
Because they keep on responding and one has to tick mark the right choice accordingly.
 Literature Review

Chua study the role of international real estate in mixed-asset while attempting to control
higher taxes, transaction costs and asset management fees incurred when investing in real
estate, as well as the appraisal smoothing in real estate return indices

According to experts tracking the reality sector sites such as magicbricks.com, 99acres.com,
makaan.com ,etc. are fast becoming the choice consumers looking for renting his property as
well as for developers. The online real estate market is yet to reach and inflection point as
seen in the travel for E-Commerce sector. However, while the penetration of internet, more
and more consumers in the urban areas have started using this medium as the first point of
search for all their real estate needs. Many newly launched real estate projects in good
locations are losing out on sales because of faulty marketing visions.in changing real estate
and construction market, the old thumb rule used by industry specialists sometimes stop
being valid. There is a fundamental shift involved in the industries are very high and these
investments are build on speculation. It is very valuable to collect data on the market
dynamics in a scientific manner to reduce risk.
1.4 LIMITATIONS OF THE STUDY

2. LIMITED TIME PERIOD because of which some problems remained unidentified.

3. LACK OF EXPERIENCE due to which some remedial actions were unacceptable.

4. LIMITED DATA as the data analysed was of only 2 months. So all problems
couldn’t be identified.

5. BIASED RESPONSES since the employees answered the questions as per their
suitability.
 INDUSTRY PROFILE

2.1) Indian real estate

Riding piggyback on a booming economy and healthy GDP growth, Indian real estate
industry has been expanding at an exponential rate. Favourable demographics, rising
purchasing power, availability of cheap finance, professionalism in real estate and reforms
initiated by the government are some of the major drivers of this spectacular growth.

In India the mood is upbeat after the IT boom; it is witnessing the real estate boom. The
rising income and the enterprising middle class, who want to own a home of their own, are
responsible for this boom. With the availability of home loans and liberalization policy of the
government the dream of owning a home is fast turning into a reality.

At present India ranks fifth in the 30 emerging retail markets in the world. In India the Real
Estate and Construction business is a US$12 billion (by revenue) industry. Surveys predict a
twenty percent growth in the organized retail sector by 2010 while a Merrill Lynch report
says that the number of malls in the Indian metros will reach the 250 mark as compared to 40
malls at present. In short real estate is all set for a gala time in the near future. Therefore, any
prudent businessman or an anxious homemaker should definitely invest in real estate, now.

Residential complexes, beautiful shopping malls, commercial buildings are springing up in

almost all major areas of the cities. Even the NCR region is witnessing extraordinary growth
and development. This growth has helped the real estate companies to serve national and
international clients. Most of the companies deal in renting, construction, buying and selling
real estate. The major players in the builders and promoters sector are Aggarwal estate,
Cheloor Property Development Projects Limited, Classic Group etc. The DLF Group, Airwil,
Ajnarahomes and the Sahara group are real estate companies that are building housing
complexes and townships in different parts of the country.

The Indian real estate market size is expected to touch US$ 180 billion by 2020. The housing
sector alone contributes 5-6 per cent to the country's gross domestic product (GDP). Also, in
the period FY08-20, the market size of this sector is expected to increase at a compound
annual growth rate (CAGR) of 11.2 per cent. Retail, hospitality and commercial real estate
are also growing significantly, providing the much-needed infrastructure for India's growing
needs.

Real estate has emerged as the second most active sector, raising US$ 1.2 billion from private
equity (PE) investors in the last 10 months.
Foreign investors have bought tenanted office space worth over US$ 2 billion in India in
2014, a four-fold rise compared to the previous year, in order to increase their rent-yielding
commercial assets in Asia's third largest economy.

The real estate sector in India presently worth USD15 billion and it is growing at a
phenomenal rate of 30% per year. This sector is the second largest employer in India, after
the agriculture sector. Having attained maturity, the real estate sector is attracting huge
investments especially FDI. Today, real estate in India addresses the demand for built up
space, from a variety of property segments such as offices, residential units, shopping malls,
hospitality industry, manufacturing sector and logistics parks, to name a few. The real estate
sector is also active in the establishment of SEZs and the building of townships. It is
spreading to the smaller cities and underpins their growth. The concept of “green” buildings
is being adopted by the sector, testifying to a significant emphasis on sustainability
considerations.

2.2) Marketing strategy

There are certain steps which play crucial role in realizing a potential customer and then
selling it. These steps are as follows:-

 Marketing Identification
 Market Segmentation
 Target Market
 Selling Procedure
 Closing of sale
Each is described as below:-

1) Market Identification
 Hot Market Identification- Relatives & Friends
 Warm Market Identification- Referrals
 Going to cold market
 For hot market, making P-40 sheet that consist name, contact details, occupation,
income level& age of those people who will be influenced by you at any cost.
2) Market Segmentation
On the basis of market identification, we can make different segments on which
customer have to focus.
3) Selling Procedure:-
 Prospecting-identifying the buyer
 Contact-preparing sales folder& knowledge about the company
 Sales Call-making sales call
 Handling Objections-satisfying queries of buyer
4) Target Market-Basically targeting the following:-
 Professionals like MBA’s, CA’s etc
 Middle Income Group Customer
5) Closing of sale- A satisfied person have a full confidence and trust on the sales person
and then he give the cheque of finalize the sale.

 Incentive schemes provided to its employees- for motivating its employees, and
inspite of all those, these things are also provided other than salary:-
 Commission/Incentives
 Team Bonus
 Internal Campaign/Speedup Bonus
 Appraisal
 Increment
 Promotion
 Reward Recognition
 Dream United
2.3) Future of real estate in India

According to the Investment Gurus and real estate experts 'there is a definite boom in the real
estate market in India and that's why many people are going for investment in the real estate
in India. According to market experts, Indian real estate market has got a tremendous
potential and it will surely be riding high in the coming years.' 

Favourable property market and real estate boom has made property investment in India look
safe. This is also proved by the fact that Indian Government has liberalized its foreign direct
policy to attract higher foreign investment.

It's not that the property prices in India have suddenly seen a rise. Prices of property whether
it be residential, commercial or industrial have been rising in India over the last few years.
Taking an example of some of the better developed cities like Noida and Gurgaon, property
prices have increased by up to 5 times within a few years. It's not that only these cities are
experiencing an appreciation in the real estate prices, property prices have been steadily
rising across all parts and sectors of India may be the appreciation in the prices of property in
other parts of India would not be that much.

A recent survey has revealed that, India stands on the fourth position among the top four
Asian destinations for foreign direct investment. India being the largest democracy with
excellent democratic governance and transparent property laws attracts more people for
making the investment in the property and real estate market than any other country in the
region. 

Looking at the above factors we can say that as far as property market in India is concerned it
is going only in one direction that's upward. And this current trend will see more and more
people investing in the property market in India.
2.4) Real estate still best despite industrial turmoil

Despite slowdown in the global economy, the demand for housing sector will remain strong
in the country. But the sector will not witness the kind of price appreciation it has seen in the
last couple of years.
The global slowdown of economy will have positive as well as negative impact on the Indian
real estate sector. Anshuman Magazine, the managing director of global realty consultant CB
Richard Ellis, says that on the whole, because of the domestic demand-driven market, the
recent developments in the international front will provide good opportunities to homebuyers
to fulfil their aspirations to own a house.
Despite marginal slowdown of Indian economy, it is expected to grow at healthy rate of
7.5%, which will not only reduce the impact of the global slowdown but also make it one of
the most attractive investment destinations in the world, along with China.

Anuj Puri, chairman and country head of Jones Lang LaSalle India, says that middle income
residential real estate makes a lot of investment sense. Thus, for long-term investors,
residential real estate is quite a lucrative proposition. However, Puri advises investors to
avoid plugging money into projects that are in the early stages of completion, since these may
be plagued by delays now. The safest bets are projects that are ready or almost ready, he says.

Anurag Mathur, the managing director of Cushman and Wakefield, India, also says that
Indian real estate market may be affected, but to a lesser extent. The economy, though closely
linked to the global developments, is resilient. Recently, Standard and Poor's downgraded the
sovereign credit rating of the US by one notch to AA+. There is apprehension that the
development will affect the Indian economy adversely.

However, the downgrade of US economy to AA+ does not indicate any impending default by
the country in meeting its obligations in the near future, but it certainly hints at a slowdown
of its economy. Besides the US, other developed countries in the Euro zone are also facing a
slowdown in the economy. This will affect the export of IT services from India, which
contributes to the demand for residential and office real estate in the country.
Anuj Puri says that the recent developments in the US and Europe could impact Indian IT
companies, and therefore, the overall demand for IT-specific office space. IT office space
may therefore not be very lucrative for short-to-mid-term investors. However, other office-
space segments would continue to look good in the long term.

But, at the same time, there is a section of banker and industry experts which feels that the
outsourcing activities will increase as the profitability of companies in developed world will
be under stress because of the slowdown in their economies.

Slowdown in the economy coupled with relatively unavailability of funds may force many
cash-starved indebted developers to sell their projects to reduce their debt. Many of these
developers have borrowed at a huge cost of upwards of 18% to meet their immediate
requirements. This, said Puri, may lead to a dip in residential prices in cities like NCR.

At the same time, many experts feel that the fund flow into India during the global slowdown
may not be impacted this time as it did in 2008 and 2009, due to the banking crisis. Mathur
argues that the dilemma for the capital providers is to either preserve the capital in wake of
lingering economic uncertainty or to deploy it into markets that are still showing potential for
growth.

The global economic stress will put more pressure on the developing economies to provide
the buffer, he says. As a result, the global capital can seek refuge in these economies,
provided quality investment avenues are available and political and economic hurdles are not
too discouraging.

The global slowdown may also bring in some positives for India. With the slowdown, the
demand for commodities like crude oil and metals will drop resulting in a fall of their prices.
This will help in containing inflation and could provide some solace to the economic
slowdown in India. This may also prompt RBI not to increase interest rates, which are
affecting real estate sector adversely.

The increased risk weightage on real estate coupled with RBI increasing lending rates to curb
inflation has already made availability of capital scarce. This potentially leads to raising
finance from PE, NBFC and HNI sources. At the same time, increasing input costs and
diminished purchasing power are eroding margins, and consequently, the investment returns.
2.5) Indian real estate- opportunities & challenges

As India Inc. continues on its high-growth trajectory in many sectors there is one industry
that clearly epitomizes the growth in the economy and provides a solution to the changing
demography of the country and that’s none other than the Real Estate.
While a decade earlier this sector was market by shady builders and unhappy customers,
there has been a real turnaround in the real estate business. It is estimated that in the next
three to four years this sector would contribute around 5 to 6percent to India’s GDP.

Indian real estate boom has been partly backed by the revolution brought about by private
banks in the Home Loans business as it has proved to be the most lucrative segment for the
Indian banking industry as well. The factors that have pushed this sector to the present iconic
status are as follows:

Firstly, it is the sustained high growth rate of GDP and increasing GDP per capita in the
country providing an impetus to the real estate demand across segments. According to the
recent FICCI report: the last three years have seen real GDP rise a cumulative 26 per cent,
with impressive increases of 8.5per cent in 2003/04, 7.5per cent in 2004/05 and 8.4per cent in
2005/06 on the back of the robust growth across industries. Thus, setting into motion the
demand for commercial / industrial as well as residential real estate. 
 
Secondly, the huge demographic shift being witnessed in the country in the last decade is
cited as one more reason behind the sector’s exponential growth. The increasing rate of life
expectancy, declining infant mortality and a high but falling birth rate in the country have
created an additional demand for housing and infrastructure for the ever-increasing
burgeoning population
 
An estimate shows that the present 1.1 billion India’s population would touch 1.5 billion by
2030, thus edging out China as the most populous country in the world. Coupled with the
significant rise in the working population and dependency ratio below 50per cent, it is
expected it would generate higher personal savings and stronger investments, resultantly
boosting the growth of real estate further. 
 
Urbanization is seen as another underlying macroeconomic factor that is fostering the growth
in India. According to the estimates of United Nations Population Division, the urban
population of India will grow at a rate of 2.5per cent per annum for the next two and a half
decades, doubling it to 600 million people by 2030. And according to Census of India
estimates, 41per cent of the total population will be living in the urban areas by 2011, thus
triggering an increase in demand for space in these areas. 
 
Besides these, favourable reforms ensuring easy project financing, increased fiscal incentives
to developers and simplification of Government procedures are the few of the bottom factors
that have catapulted the growth in this sector. 
 
In pursuance of the expected growth that this sector will take, the future is full of challenges.
In the commercial office segment, in spite of the huge demand, the developers may have to
face heat from the ups and down of other sectors since this segment, in particular, is highly
dependent on the performance of the Indian IT/ITES. Any unforeseen downturn in the
business prospect of IT/ITES industry would have a significant impact on the vacancy levels
of the upcoming commercial office space stock in the country. 
 
Secondly, with the introduction of the SEZ policy, it is believed that a significant amount of
the office space demand will be targeted in SEZs. Though, the current SEZ policy does not
allow the migration of existing units to SEZs, in case such migration becomes possible, the
market will witness supply of a huge stock of un-used office space, which will lead to
substantial crash in rental and capital values in the segment. The real challenge for the reality
players, therefore, lies in estimating the market demand and validating supply of any
additional commercial space. 
 
While in the residential segment, if one goes by the Planning Commission report there is a
shortage of approximately 9 million units; and this deficit, as per the Asian Development
Bank, would escalate to around 22 million units by 2007/08, and up to 10 million units by
2030. The most deterring challenge that would come on the way would be the product
differentiation and correct understanding of the consumer needs. These challenges would be
applicable to both the national or international players as the consumer preferences in India
vary from one location to other and brand value in a highly competitive market would be stiff
without substantial product differentiating factors. 
 
Another segment that would gain momentum is the hospitality sector. According to the
Ministry of Tourism, Government of India, there are an estimated 1.2 million hotel rooms in
the country, of which star hotels account for a mere 7per cent (approximately 80,000 rooms).
The Ministry forecasts that there will be a total 2.9 million hotel rooms in India in 2010 and
2020 respectively. From the real estate perspective, the biggest deterrent in the growth in this
segment could be the delay in further relaxation for FDI in the sector. Although the expected
continuance of consumerism will drive the retail demand, which will be substantially be
catered by domestic retailers, the market will still be limited till the entry of global realtors. 
 
So far, one point that has come out from the reality boom is that with the entry of global
realtors in conjunction with the national players, the industry is poised to experience a
landscape change. These players should watch for these trends and suitably define their
strategies to succeed in this rapidly emerging market.

2.6) Why invest in Indian real estate?

Real estate in whatever form it be whether land or developed property is certainly one of the
best modes of investment that promises to give good profits to the investor. There’s a popular
saying by Mark Twain “Buy land they aren't making it any more”. Yes this saying applies
right to the property buyers of the present day. In present scenario where the availability of
land resources for construction is depleting day by day, it is for sure that buying land and
waiting for the right opportunity to sell it in the market is certainly going to earn large profits
to the real estate investor. Not only land even the developed properties can offer excellent
opportunities for earning by opting for investment in the property at the right place. When it
comes to property investment, Indian real estate market offers bright opportunities for profit
earning to the investors. 

Real estate India has come a long way in the recent years with entry of several innovative
and internationally acclaimed real estate developers. Pacifica is one of these. Pacifica is a US
based real estate company which has offered world-class constructions to the country. The
real estate developer has its mark in several famous cities of the country including metros like
Ahmadabad, Chennai and Delhi. The Pacifica developers have renovated the Indian real
estate infrastructure with their international standard developments which include both
commercial as well as residential properties. It is because of the presence of such real estate
developers in country that today Indian real estate is shining high among the world’s best
real estate investment destinations.

Today there are number of housing options available for investment in India. Both budget
properties as well as luxurious housing options are available for investment. For those
looking for budget property investments there are apartments and flats in 1 and 2 BHK
formats while luxurious bungalows, villas, high end 3 BHK and 4 BHK apartments and
independent homes found in metros are suitable investment options for the comparatively
higher income sections of the society to make promising returns.

In the current scenario private equity players are considering big investments, banks are
giving loans to builders, and financial institutions are floating real estate funds and therefore
real estate investment scenario in India has become much flexible and easier. With 100 per
cent FDI in real estate now being allowed, even the overseas developers are also closely
looking at the market to make an investment to add on to their money. India is among the
world’s largest republic or democratic countries of the world. There is good governing
system with equally supportive, strong and transparent legal system. The country is providing
legal protection for intellectual property rights of the investors or property buyers. Therefore
demand for Indian properties is continuously rising on a global basis. Investing in India real
estate in current scenario is definitely very profitable and therefore those who are looking to
make property investment should rightly select a right property in a good location or city for
the investment because it is after all the location of the property that really defines the terms
and value of profits you get from your investment.

2.7) Impact of economic slowdown

A home is the ultimate security that every person wants. Just a year earlier ago, prices of
houses went an all-time high but soon economic slowdown forced the price to come down.
So has real estate finally become affordable and are people buying houses? An own house is
what many people dream and plan for, from the moment they enter their first job, earn their
first pay cheque or find a life partner. The last eight months though have put breaks to many
such dreams. The real estate sector in India has undergone a massive change following the
crash in the stock market and financial slowdown.

It all started in June 2008 when the real estate market crashed. The BSE Realty Index became
the year’s worst performer, shedding half of the peak it hit in January. India’s largest property
firm DLF lost 54% of its stock value. Unitech shed 64%, Parsvanath and Omaxe lost 68%
each. The biggest loser in all this was the consumer and the people who had invested their
hard earned money in the realty sector. Situation become worse following pay cuts and job
losses which stopped prospective buyers from investing in new homes.

Developers, desperate to reignite the sales, cut prices by as much as 40%. There were
discounts too like free ac’s and even cars. With successfully stimulus packages, the
government has been working to spur realty sector- from loan incentives to the tune of Rs
20lakh to duty cuts in the iron, steel and cement sectors. But despite all the fire fighting
measures taken up by the industry and the government, the demand in real estate sector has
not yet picked up.

In fact one of the big developers said that, while they had clocked sales of Rs 90crore last
year, this year that figure is 60 crore. Many people are shying away from putting money real
estate projects. It remains to be seen what more the industry and the government can offer
buyers to re-ignite the Indian housing market.

2.8) Entrance of Indian companies in foreign markets

The scene today - The real estate sector is a critical sector of our economy. It has a huge
multiplier effect on the economy and therefore, is a big driver of economic growth. It is the
second-largest employment-generating sector after agriculture. Growing at a rate of about
20% per annum and this sector has been contributing about 5-6% to India’s GDP. Not only
does it generate a high level of direct employment, but it also stimulates the demand in over
250 ancillary industries such as cement, steel, paint, brick, building materials, consumer
durables and so on. The Indian real estate industry has been on a roller coaster ride since
2005. Consequent to the government’s policy to allow Foreign Direct Investment (FDI) in
this sector, there was a boom in investment and developmental activities. The sector not only
witnessed the entry of many new domestic realty players but also the arrival of many foreign
real estate investment companies including private equity funds, pension funds and
development companies entered the sector lured by the high returns on investments. The real
estate sector has been riding through many highs and lows since then. The industry achieved
new heights during 2007 and early 2008, characterised by a growth in demand, substantial
development and increased foreign investments. However, by mid 2008, the effects of the
global economic slowdown were evident here too, and the industry took a ‘U’ turn. FDI
inflow into real estate dropped significantly and what had emerged as one of the most
promising markets for foreign investments experienced a downturn. Financial support to the
sector in the financial Years 2007-08, 2008-09 and 2009-10, the housing and real estate
sector attracted FDIs of 8.9%, 10.3% and 11% respectively, of the total FDI in India.
However, the financial year 2010-11 saw a mere 6% FDI in this sector. The year 2010 saw
the Indian real estate sector spring back into action after the gloom and recessionary pressures
experienced in the aftermath of the global downturn. The focus on ‘affordable housing’
helped the sector tide over the financial crunch it had witnessed. There is no doubt that the
sector holds huge potential to attract FDI in its various segments. However, progress is
possible only with the joint efforts of both the industry and the Government. On the one hand,
the industry should work towards increased transparency, clear land titles, improved delivery
and project execution while on the other hand the Government must provide fiscal incentives
to developers to build low cost and affordable housing for the masses and also review the
existing FDI guidelines for investment and development in Indian real estate in order to
increase the flow of foreign capital into the sector. Boosting R&D in Real estate, the
Government must provide incentives to the public and private sectors to take up R&D
activities for new building materials and technologies so that the industry can deliver low
cost, affordable, and sustainable and environment friendly housing and building structures.
Government regulations and changes required The Government of India vide Press Note No.
2 of 2005, permitted FDI up to 100%, under the ‘automatic route’ in townships, housing,
built-up infrastructure and construction development projects. The main reason for opening
up the real estate sector to 100% FDI was to bridge the huge shortage of housing in the
country and to attract new technologies in the housing sector. The original FDI guidelines
issued vide the above press note attracted large amounts of foreign funds to the Indian real
estate sector however, subsequent amendments to the FDI policy relating to real estate; have
created unwanted apprehensions and confusion in the minds of global investors thereby
affecting FDI inflows adversely. Further, lack of consistency in rules relating to development
of SEZs, increased monitoring of the sector by regulatory agencies, tightening of rules for
lending to the real estate sector and increase of key rates by the RBI several times during the
last one year, have arrested the growth of the sector. There is a need to streamline
government policies and introduce reforms to boost the real estate sector.

The Challenges- The key challenges that the Indian real estate industry is facing today are:
lack of clear land titles, absence of title insurance, absence of industry status, lack of
adequate sources of finance, shortage of labour, rising manpower and material costs,
approvals and procedural difficulties. The Indian real estate sector has traditionally been an
unorganised sector but it is slowly evolving into a more organised one. The sector is
embracing professional standards and transparency with open arms.

The major established domestic players in the sector are DLF, Unitech, Hiranandani
Constructions, Tata Housing, Godrej Properties, Omaxe, Parsvanath, Raheja Developers,
Ansal Properties and Infrastructure and Mahindra Lifespace Developers Ltd to name a few.
International players who have made a name for themselves in India include Hines, Tishman
Speyer, Emaar Properties, Ascendas, Capitaland, Portman Holdings and Homex. The road
ahead India has huge potential to attract large foreign investments into real estate. With real
estate reaching a point of saturation in developed countries and the demand and prices falling,
global real estate players are looking at emerging economies such as India for tapping
opportunities in real estate. Indian real estate will stay attractive due to its strong economic
fundamentals and demographic factors. Moreover, there is a high level of global uncertainty
looming over the developed and developing nations of the world. While developed
economies are still struggling to regain their growth momentum, developing countries
including India and China are expected to grow at a reasonably high rate. Investments in
Indian real estate will fetch higher returns for investors as compared to other global markets.
In the coming years, the opportunities in the real estate sector will attract more global players
to India and hence will help the industry to mature, become more transparent, improve
management and adopt advanced construction techniques.
 1.) COMPANY PROFILE

3.1) About the company

AJNARA INDIA LTD is a brand that caters to the aspiring middle income group by offering
them quality, community housing at strategically identified locations across the country.

It caters to the aspirations of the middle-income group by offering quality community-

housing at strategically identified locations across India.

The company has invested in 7 integrated projects in India, namely Gurgaon, Ghaziabad,
Amritsar, Chennai, Indore and Panvel which represent approximately 33.3 million sq. ft. of
saleable area.

Ajnara India Ltd is in high growth mode and aims to double its area under development in the
next 3 years.

AJNARA INDIA LTD has focused to formulate a very keen and simple strategy of targeting
the middle income group customers which is very well executed for a country like India
because in India a very high percentage of people living in the country are from middle
income group. And also being overpopulated country a need for desired quality and well
maintained homes are too much necessitated. Ajnara India Ltd has targeted its customers who
are professionals in their lives like doctors, ca’s mba etc and also from the income group
between 25-35lakhs per annum.

These are the first infrastructural society that has implemented the facility of sky longue in a
very beautiful and attractive way.
3.2) Board of directors

Mr. G.P. Gupta

Founder

Established the company with a vision of making it a leader in the

real estate industry. Today, Ajnara is one of the most prestigious

real estate companies in North India. It was his farsightedness and

determination that enabled the company scale great heights.

Mr. Ashok Gupta

Managing Director

Is a visionary entrepreneur, known for his aggressive and focused

approach towards real estate; he has headed the company since its

inception.

Mr. Pramod Gupta

Joint Managing Director

A civil engineer from Sumaya College of Engineering, is very well

versed in the dynamics of engineering. At the time of transition

from a start up player to a leading developer of Delhi NCR, he

steered the company to the present glory.

Mr. Vinod Gupta

Director

Heads the finance department, has enabled the company to create

adequate financial resources. His efforts helped Ajnara expand their

project procurement planning, which in turn resulted in huge capital

resources for the growth of the company.

Mr. Vineet Gupta

Director (Purchase & Operations)

Is one of the youngest members of the management team. His sharp

focus and decisive skills are invaluable for the company. He

undertakes planning and co-ordination for procuring raw materials,

machinery and other equipment.

3.3) Products of the company

Springview Heights: a surprising indulgence

Discover the joy of abundance with ample personalised space and privacy, thoughtful conveniences of an
integrated township and healthy expanses of landscaped greens.

Enjoy living in well-spaced apartments amid wide expanses of

nature
2 BHK (Optima), 2 BHK (Maxima) and 3 BHK (Maxima)
Well-designed apartments, with optimal sizes.
Elevated greens with play area.
Efficient space utilisation.
Green building certification by IGBC*.

Specifications

Living/Dining

Flooring : Vitrified Tiles

Main Door : Polished Hard wood Frame with Moulded Skin Door Panel

Master Bed Room

Flooring : Laminated Wooden Flooring

Bedrooms

Flooring : Vitrified Tiles

Wall finish : Oil Bound Distemper in pleasing shade

Ceiling : Oil Bound Distemper

 Window : Powder Coated / Anodised Aluminium Frame Windows

Internal Door : Painted Hard Wood Frame with Flush Door Panel

Balconies

Flooring : Anti-skid Ceramic Tiles

Kitchen

Flooring : Ceramic Tiles

Platform : Granite Counter

Wall Finish : Ceramic Tiles 2 Ft above the Counter & Oil Bound Distemper in pleasing shade

Others : Stainless Steel Sink with Drain Board

Toilet

Wall Finish : Ceramic Tiles up to 7'-0" ht. and Oil Bound Distemper above

Flooring : Anti-skid Ceramic Tiles

C.P. Fittings : Parry ware or equivalent with Health faucet

China Ware : Parry ware or equivalent

Electrical : Copper wiring with Modular Switches Circuits with MCB's of standard make

Power backup

2 BHK - 2 KVA
3 BHK - 3 KVA

Security
Gated Complex

Features & Amenities

Welcome to a healthy 88-acre integrated township

GDA approved with an abundance of thoughtful conveniences... Discover community living at its best.
Enjoy an international lifestyle at this FDI-funded, GDA-approved integrated township with well-planned
amenities:

 Proposed schools
 Shopping arcade
 Healthcare centre
 Police choky
 Sub Post office
 Extensive manicured greens
 24-hour Power back-up
 Adequate Water supply
 Round-the-clock Security
 Multiple Parking options
 Rain-water harvesting
 Sewage treatment plant
 Facility management by
 Jones Lang LaSalle
 Wide metalled roads

A choice of 7 indulgent Clubs

6 Terrace Clubs; 1 common Club; 50,000 sq ft... Welcome to a total club space of about 50,000 sq ft (4645
sq. mitre.) with a host of irresistible opportunities.

At the Common Clubhouse:

 A splash pool
 A modern gymnasium
 An indoor games room featuring:
o Pool, Table tennis

o Chess, Carom, Dart

 Multipurpose hall
 Open party lawns
 An Internet station

At the Terrace Clubs:

 A gymnasium
 Lounge with large-screen theatre
 An indoor games room featuring:

o Pool, Table tennis

 Space for steam and sauna bath
 Kid’s play area
 Internet station
 Dry Pantry

Indulge at the central parks on an elevated podium

 10 ft above the driveway; Safe and vehicle-free; Packed with sports and recreation facilities... Discover
healthy living with:

 A skating rink
 Lawn Tennis court
 Cricket nets
 Splash Pool and changing rooms
 Open amphitheatre
 Badminton courts
 Jogging tracks
 Cycling tracks
 Senior citizen zone
 Kid’s play area
 Theme parks

Sky Lounge: a sheer indulgence at 150 fits

Enjoy at the Sky Lounge at the Terrace Club:
 Kid’s splash pool
 Putting greens
 Cosy sit-outs
 Viewing deck
 Party zone

Spacious rooms designed by CP Kukreja

3-sides-open apartments with balconies

Ample ventilation, maximum sunlight, reassuring privacy and space efficiency designed by leading
architect C P Kukreja

Green Building
 Energy saving: 20 -3 0%
 Water saving: 30 -5 0%
 Good ventilation
 Rain-water harvesting
 Waste water treatment

Earthquake-resistant construction
Sturdy build quality conforming to Zone specifications
Delhi NCR lies in Seismic Zone 4; however the construction has been designed conforming to Zone 5
specifications, thus making it sturdier.
KEY PLAN

FLOOR PLAN OF SPRINGVIEW HEIGHTS

PROJECTS
  2 BHK OPTIMA

• Size- 926 sq feet

• Price-Rs 30,55,300

 2 BHK MAXIMA
 Size-1090 sq feet
 Price-Rs 35,91,500

SWOT analysis of Ajnara India Ltd

STRENGTH

 Strong and significant National Leadership Position in Indian Real Estate Industry.
 Focus on luxury and premium segment and low average cost of land.
 Expand core business verticals nationally
 Diversify into hotel development
 Way ahead of its competitors
 One of Leading Brand Name in Industry\

WEAKNESS

 Not very significant in East

 Can effect cash flows in long run

OPPORTUNITY

 Took over hotel industry which is having significant growth in near future.
 Growing retail industry

THREATS
 Huge investments made
 Dealing in a very volatile real estate industry
 Increasing labour costs

3.6) CSR of Ajnara India Ltd

Ajnara India Ltd is committed to contributing to society. One small way we do this is by
contributing to ‘Habitat for Humanity India’.

Shelter is a basic human need. Yet, in contemporary India, there are millions of people who,
due to poverty and disadvantage, do not have the opportunity to have a decent roof over their
heads and adequate protection from external factors inclusive of environmental disturbances.
This affects all the members more so, the women and the children whose vulnerabilities are
exacerbated with least privacy in the absence of a home. According to the National Housing
Bank Report (2010), India needs more than 72 million houses to provide decent shelter to its
poverty ridden population.

The right to adequate housing is a universal right, recognized at the international level and in
more than one hundred national constitutions throughout the world. It is a right recognized as
valid for every individual person. In spite of this right, the homeless, the inadequately housed,
and the evicted are growing with time in the cities and the countryside across the planet.

Habitat for Humanity India works in partnership with corporate, foundations and individuals
to build and renovate houses so that people in need can benefit from the stability and security
of decent homes and can work to fully realize their potential. The company has been
operating in India since 1983, and uses a ‘hand-hold’ (as opposed to ‘hand-out’) model
whereby the labour of volunteers and partner families, efficient building methods, modest
house sizes and no-profit loans make it affordable for low-income families to own a Habitat
houses. Till date, the company has helped more than 43,000 low income families across the
country gain access to a safe and decent shelter. 

Ajnara India Ltd is proud to support afar, the American foundation for AIDS research. Mr.
Anuj Gupta is t he Event Chair of afar India and has been instrumental in bringing afar to
India by supporting this noble cause for the last three years.

Afar, The Foundation for AIDS Research is one of the world’s leading non-profit
organizations dedicated to the support of AIDS research, HIV prevention, treatment,
education, and the advocacy of sound AIDS-related public policy. Since 1985, afar has
invested more than $366 million in its programs and has awarded grants to more than 2,000
research teams worldwide.

Ajnara India Ltd is all about building joy in a home called India. With this objective in mind,
AJNARA has partnered with SMILE Foundation, under its "Art for Good" Initiative, to
support the education of under-privileged children in India especially girls. Education is the
key to addressing systemic issues like poverty, child labour, and high mortality rate. Our
objective of partnering with SMILE Foundation is to place as many out-of-school children as
possible under the ambit of education, through a country-wide network of remedial education
centres, and to bring joy and smiles to many. Smile Foundation is a national level
development organization working in 25 states of India reaching out to 3, 00, 000

beneficiaries. 

3.7) USP’s of Ajnara India Ltd

International association

Ajnara India Ltd is an India-focussed developer of residential property, promoted by the Duet
Group. The Duet Group is a global asset-and-real-estate management firm based in London,
with offices in New York, Boston, New Delhi & Dubai.

Home called India

Ajnara India Ltd has a strategy to invest and develop townships on a pan-India basis. Ajnara
India Ltd currently has residential projects at Ghaziabad, Gurgaon, Amritsar, Chennai, and
Indore. With proposed projects at Ahmadabad, Navi NCR, Bangalore, NCR and Kolkata, we
are actively seeking to expand our portfolio across India.
 Our biggest hallmark

At Ajnara India Ltd we assign top priority to fulfilling committed schedules and delivering
possession on time. Our FDI funding, strong management team and streamlined processes
ensure uninterrupted construction progress. Our on-time delivery across all projects stands
testimony to this commitment.

CREDAI approval

Ajnara India Ltd takes pride in working to uncompromising quality standards and
maintaining transparency in all dealings. All Ajnara India Ltd carry approvals and sanctions
from the relevant authorities. It is also a member of the Confederation of Real Estate
Developers' Associations of India that ensures observance of code of conduct.

IGBC Certification

Ajnara India Ltd believes in green living. Our townships are designed with infrastructural
necessities and indulgences like landscaped greens, for healthy, self-sufficient community
living. We have also received Indian Green Building Council (IGBC) certifications.
 Accolades

Ajnara India Ltd has gained industry recognition in a number of different categories and
locations. This recognition has been given by an eminent jury panel.

Thoughtful conveniences

Our townships offer conveniences that enable joyful and comfortable living. They include
professional management services (managed by JLL), round-the-clock security, 24 hour
power back-up, adequate water supply, rainwater harvesting, schools, shopping, organised
parking, kids' play areas, community bus-shuttle services, IGBC certifications and various
modern club facilities.
 2.) DATA ANALYSIS AND INTERPRETATION

Q.1- Are you aware about real estate?

 Yes
 No

Yes No
76% 24%

YES
NO

Interpretation- From this question, it seems that many people are aware about real estate but
still there are few people who are not aware about real estate.

Q.2- Are you interested in real estate?

  Yes
 No

Yes No
83% 17%

Yes No

Interpretation- This question shows that those people who are aware about real estate, for that
segment more than 60% people are interested in real estate but few other people are not
interested to invest in real estate. Let’s see what is the reason behind their less interest in
realty sector.

Q.3- What is the reason that you are not interested in real estate?

 Risk
 Bad Experience
  Other Reason

Risk Bad Experience Other Reason

70% 20% 10%

Yes
No
Other

Interpretation- People who are not interested in real estate, states the reason that there are a
lot of risk in this sector, few other states that they have bad experience in this sector i.e.
previously they face loss in their investment so they are not interested.

Q.4- Which type of real asset you want to purchase?

 Flat/House
 Plots
  Farm House

Flat/House Plots Farm House

50% 41% 9%

Flat/House
Plots
Farm House

Interpretation-Out of 100 respondents, 50% are interested in flats and houses, 41% are
interested in plotting and rest 9% are interested in farm houses.

FOR THOSE RESPONDENTS WHO ARE INTERESTED IN FLATS/HOUSES

Q.5-Do you have your own flat/house?

 Yes
 No
 Yes No
30% 70%

Yes
No

Interpretation-Within 100 people who are interested in flats and houses, 30% of them have
their own houses and 70% of them don’t have their own houses and they are living on rent.
This shows that there are a lot of scopes of real estate sector.

Q.6- Are you interested in buying new flat/house?

 Yes
 No

Yes No
97% 3%
 Yes
No

Interpretation-Those people who are interested in real estate, want to purchase more houses
because they are very well aware of this fact that there are much growth in this sector. Few of
them don’t want to purchase because of family and monetary problem.

Q.7- If yes, why you want to purchase?

 For Satisfaction
 For Return & Wealth

For Satisfaction For Return & Wealth

65% 35%
 For Satisfaction
For Wealth

Interpretation- Because of much appreciation in real estate property, about 65% want to
purchase for their inner satisfaction and rest 35% want to purchase for the purpose of making
money and for increasing the rate of return in nearby future, thus for the purpose of
investment.

Q.8- Have you seen any flat /house, you really like?

 Yes
 No

Yes No
97% 3%
 Yes
No

Interpretation-People who are interested in real estate have a plan for their investment in near
future and they have seen flats/houses for further purchase. Very few of them have no idea
and they are not much interested in planning for future.

Q.9- If yes, why didn’t you purchase it?

 Out of budget
 No trust on seller/dealer
 Not properly developed
 Due to location reason
 Other

Out of Budget 20%

No trust on 15%
Seller/Dealer
Not properly 36%
developed
Due to 12%
location
reason
Other reason 17%

Out of budget
No Trust on Seller
Not properly developed
Due to location reason
Other

Interpretation- People states the reason of not purchasing houses because few of them have
not enough money, few of them have no trust on builder, and few of them think that location
of property is not up to the mark

Q.10- You want to purchase flat/house for?

 Nuclear Family
 Joint Family

Nuclear Family Joint Family

77% 23%
 Nuclear Family
Joint Family

Interpretation- Most of the people who are interested to purchase flats, want to live
separately, like in nuclear family, Very few people want to live in joint family in recent time.

Q.11- What is your budget in purchasing flat/house?

 2-15lakh
 15-30lakh
 30-45lakh
 Above 45lakh

2-15lakh 12%
15-30lakh 50%
30-45lakh 32%
Above 45lakh 6%
 2-15lakh
15-30lakh
30-45lakh
Above 45lakh

Interpretation- This shows that many people are interested in purchasing flats mostly belongs
to upper middle level. They have enough money to invest/purchase flats/houses.

Q.12- Which mode of payment you want to adopt?

 Finance from bank or institutes

 Cash Payment

Finance from bank or institutes Cash payment

90% 10%
 Finance from bank
Cash Payment

Interpretation- Most of the people prefer bank loan to purchase real estate property because it
is convenient for them who have not much cash for single time payment.

Q.13- If you want to purchase, for which purpose you want to purchase?

 Residential
 Commercial
 Investment

Residential Commercial Investment

20% 33% 47%
 Residential
Commercial
Investment

Interpretation- People who are interested to purchase plots, most of them purchase for
investment purpose.

Q.14- In which area you want to purchase your flat/house?

 Near market
 Near transport facility
 Industrial area
 Near official area
 Other

Near Market 18%

Near Transport Facility 26%
Industrial Area 5%
Near Official Area 40%
Other 11%

Near Market
Near Transport Facility
Industrial Area
Near Official Area
Other

Interpretation- In case of flats/houses, people want to purchase mostly near official area.

Q.15- When you would like to invest in real estate?

 Within 1 year
 1-5 year
 After 5 year

Within 1 year 1-5 year After 5 year

55% 35% 10%
 Within 1 year
1-5 year
After 5 year

Interpretation- This shows that there is a lot of scopes of real estate market in near future.
 3.) FINDINGS

1.) Most of the people are aware about real estate but still there are few people who are
not aware about real estate.
2.) People who are aware about real estate, in that segment more than 60% of people are
interested in real estate and rest are not interested in it.
3.) People who are not interested in real estate, state the reason that there are lot of risk in
this sector, few other states that they have bad experience in this sector i.e. previously
they face loss in their investment so they are not interested.
4.) Out of 100 people who are interested in flats and houses, 36% have their own houses
but rest 64% people have not their own houses and they are living on rent. This shows
that there is a lot of scope in this sector.
5.) People who are interested in real estate, want to purchase more houses because there
will be more growth in this sector. Few people didn’t want to purchase further
because of family and monetary problem.
6.) Because of high appreciation in real estate, about 70% want to invest in real estate.
7.) People who are interested in real estate have a plan for their investment in near future
and they have seen flats/houses for other purchase. Very few of them have no idea
about it and they are not much interested in planning for future.
8.) The reason why people are not purchasing the houses because few of them have not
enough money, few of them have no trust on builder and few of them think that
location of property is not up to the mark.
9.) Most of the people who are interested to purchase flats, want to live separately, like in
nuclear family, very few people want to live in joint family in recent time.
10.) People who are interested in purchasing flats, mostly belongs to upper middle
class .They have enough money to invest in this sector.
11.) People who are interested to purchase plots, most of them purchase it for
investment purpose.
12.) There are more upper middle class who are interested in purchasing plots.
13.) In case of flats, people want to purchase near official area.
14.) At last it can be said that there are lot of scope of real estate market in near
future.
 4.) CONCLUSIONS

The booming Indian real estate has made property developers billionaires overnight, with
profit overflowing in this sector. Office and shopping mall rentals continued their upward
trend, the pace being very vigorous n Delhi NCR and NCR. At present NCR is at the second
place in list of most expensive office markets in the word with New Delhi at the eighth.

Due to favourable economic condition, boom in IT/ITES and retail, shortage of dwelling
units, rising disposable income level etc, the future of real estate seems to be very bright. It
may face turmoil for short time period but in long run real estate is going to be on cloud nine.

New Delhi NCR real estate is on boom and this is very well reflected while seeing the prices
of land, apartments, flats, houses etc. This trend is not going to stop as prices are expected to
grow up day by day rather coming down because it is one of the most sophisticated place in
India and thus there is no reduction in the growth and development of the city. It is capital of
the country so it gets funds from central and state government both in large amount.
 5.) RECOMMENDATIONS

1) Companies should focus on the unexplored market.

2) The percentage of people who are in lower middle class is more and so the real estate
companies should focus on this segment and try to come up with the houses and flats
which are affordable for those people.
3) In this time of slow down, companies should target to acquire the land because during
this phase property rates will come down drastically and companies can easily get the
land at a cheaper rate.
4) Companies should acquire the primary location places for commercial use because
when everything is all right in the market, the demand of those will be more and by
this companies can get or earn lot of revenues which will enable them to have lots of
profits.
5) In future, as supply increases developers will have to be more careful about factors
like location and target those segments for which they are developing their products.
6) In this supply-rich environment, accurate demand estimates will become very
important.
 6.) BIBLIOGRAPHY

 Kotler Philip, “ Marketing Management”, 13th edition, PHI

 Kazmi S.H.H., “Marketing Management”, 13th edition
 Saravanavel.P, “Research Methodology”, 9th edition
 Sahu N.K., “Research Methodology”, 13th edition
 Schiiffman G. Leon, “Consumer Behavior”, 10th edition
 Newspapers like Times of India, Business Line, Economic Times
 Magazines like Business today, India Today
 Ajnara India Ltd Brochure
 Websites like:-
 www.realstrat.com
 www.thehindubusinessline.com
 www.realitybiz.com
 www.livemint.com
 www.pacificacompanies.com
 www.wikipedia.com
 10.) ANNEXURE

Questionnaire

Q.1- Are you aware about real estate?

 Yes
 No

Q.2- Are you interested in real estate?

 Yes
 No

Q.3- What is the reason that you are not interested in real estate?

 Risk
 Bad Experience
 Other

(For those respondents who are interested in flats/houses)

Q.4- Which type of real estate you want to purchase?

 Flat/House
 Plots
 Farm House

Q.5-Do you have your own flat/house?

 Yes
 No

Q.6- Are you interested in buying new flat/house?

 Yes
 No

Q.7- If yes, why you want to purchase?

  For Satisfaction
 For Return & Wealth

Q.8- Have you seen any flat /house, you really like?

 Yes
 No

Q.9- If yes, why didn’t you purchase it?

 Out of budget
 No trust on seller/dealer
 Not properly developed
 Due to location reason
 Other

Q.10- You want to purchase flat/house for?

 Nuclear Family
 Joint Family

Q.11- What is your budget in purchasing flat/house?

 2-15lakh
 15-30lakh
 30-45lakh
 Above 45lakh

Q.12- Which mode of payment you want to adopt?

 Finance from bank or institutes

 Cash Payment

Q.13- If you want to purchase, for which purpose you want to purchase?

 Residential
 Commercial
  Investment

Q.14- In which area you want to purchase your flat/house?

 Near market
 Near transport facility
 Industrial area
 Near official area
 Other

Q.15- When you would like to invest in real estate?

 Within 1 year
 1-5 year
 After 5 year