CONTENTS

CONTEN PAGE NO.

TS
ACKNOWLEDGEMENT
LIST OF TABLES
LIST OF FIGURES
CHAPTER I : Introduction
CHAPTER II: Profile of the Organization
CHAPTER III: Research Methodology
CHAPTER IV: Data Analysis and Interpretation
CHAPTER V: Findings and Suggestions
CHAPTER VI: Conclusions
BIBLIOGRAPHY

ANNEXURES

h)
 LIST OF
TABLES
Table No. Title of the Table Page No.
Table No. 1.1
Table No. 1.2
Table No. 2.1
Table No. 2.2
Table No. 3.1
Table No. 3.2
Table No. 4.1
Table No. 4.2

Note: Title of the table of the corresponding chapters to be written in the above mentioned
table format

LIST OF
FIGURES
Figure No. Title of the Figure Page No.
Figure No. 1.1
Figure No. 1.2
Figure No. 2.1
Figure No. 2.2
Figure No. 3.1
Figure No. 3.2
Figure No. 4.1
Figure No. 4.2

LIST OF ABBREVIATIONS:

All the abbreviations used in the research project should be listed alphabetically here.

EXECUTIVE SUMMARY OF THE PROJECT

This page should consist of the executive summary of research project carried out by the project
student/researcher.

The executive summary should contain the introduction of topic of project starting with
theoretical background followed by objectives, the methodology, statistical tools to be used and
findings and conclusion in brief.
CHAPTER-I
 INTRODUCTION

Basic Theoretical Concepts and Context of the Topic

Introduction The real estate sector is one of the most globally recognized sectors. In
India, real estate is the second largest employer after agriculture and is expected to
grow at 30 per cent over the next decade. The real estate sector comprises of four
sub sectors - housing, retail, hospitality, and commercial. The growth of this sector
is also affected positively by the growth of the corporate sector and the demand for
office space as well as urban and semi-urban accommodations. The construction
industry ranks third among the 14 major sectors in terms of direct, indirect and
induced effects in all sectors of the economy. It is also expected that this sector will
incur more non-resident Indian (NRI) investments in both the short term and the
long term. Real estate is "property consisting of land and the buildings on it, along
with its natural resources such as crops, minerals, or water; immovable property of
this nature; an interest vested in this (also) an item of real property; (more generally)
buildings or housing in general. Also: the business of real estate; the profession of
buying, selling, or renting land, buildings or housing." The fact that major real estate
companies in India are going public proves the potential of the Indian property
market. Starting from infrastructure development to residential complex,
commercial real estate to retail space development, the property market in India is
booming with all kinds of activities. Due to the Government approval of 100% FDI
in India, real estate development and steady capital market, some major investments
are being made in the real estate sector. Buyers from all across the world are
showing interest in Indian property and it now features at the top of the list of the
international real estate investors. Most real estate study is based
on neoclassical economics. Consumers are expected to make real estate decisions
that maximize their utility and wealth given price and income constraints. Tastes
and preferences are taken as given. The outcomes of consumer actions are used to
infer these preferences. The study of real estate would benefit from an expansion to
include consumer behavior concepts from sociology and psychology as synthesized
through marketing. Inclusion of these concepts in real estate education will help real
estate analysts better explain and predict the behavior of decision-makers in real
estate markets. This paper will present a review of the consumer behavior literature
relevant to real estate and suggest how these concepts could expand real estate
study.
Literature Review of the Research on Real
Estate Financial Risk
Abstract

After a brief conceptual explanation and background introduction of real estate finance and its risks, this
paper mainly focuses on the relationship between real estate price fluctuation and financial risk, real
estate bubble, the formation and transmission of real estate financial risk, and the control of real estate
financial risk. Several research categories were classified and related research was reviewed. In the end, it
summarizes and puts forward that China’s research on real estate financial risk also has the following
problems and development direction: the research on the connotation of real estate financial risk needs to
be improved; the research on real estate bubble needs to be quantified; the research on risk formation
needs to be deepened from the mechanism; the research on risk transmission needs to be combined with
the reality of China; and the empirical research on real estate financial risk needs to be improved.

Need for the study:

 To understand the real estate Industry.

 To study the real estate market of Pune.

 To learn about the PAXMORE REALITY Private Limited company.

 To study customer behavior towards purchase of flats in Pune.

 To understand the customer preferences while purchasing property.

 To understand the buying process for property.

Statement of the Problem:

THE STUDY OF CONSUMER BEHAVIOR
Consumer behavior is the study of individuals, groups, or organizations in the selecting, purchasing,
using, and disposing of goods and services to satisfy needs and desires. Consumer behavior examines
not only what behaviors consumers’ exhibit but also the reasons for those behaviors. On a macro level,
marketers are interested in demographic shifts as well as society’s values, beliefs and practices that
affect how consumers interact with the marketplace. On a micro level, consumer behavior focuses on
human behavior and the reasons behind these behaviors. Thus, concepts drawn from psychology and
sociology are prominently reflected in the consumer behavior literature. The following sections describe
these concepts as they are applicable to the development of an increased understanding of real estate
decisions
in a consumer behavior context.

CONSUMER CHOICE AND DECISION MAKING

Much of the study of consumer behavior focuses on consumer choice. Utility theory in economics and
attitude theory in social psychology have strong similarities and constitute a basis for consumer decision
and choice processes. Consumers purchase goods and services for the benefits derived from their use.
While the study of economics focuses on outcomes, consumer behavior emphasizes the process. Rather
than assuming perfect conditions, consumer behavior researchers explicitly recognize the impact of
situational elements on behavior and the variance among individuals.
Most real estate purchases and leases would be considered high involvement goods that would require
complex decision-making. The three major comprehensive models of this type of consumer decision
making (Engel, Kollat and Blackwell, 1968; Howard and Sheth, 1969; Nicosa 1966) trace the
psychological state and behavior of individual purchasers from the point at which they perceive a need
through the search for information, evaluation of alternatives, purchase, and final evaluation of the
consequences. The assumption is that a purchase act is preceded by a sequence of mental information
processing. This involves a cognitive function in forming beliefs, an emotional component in developing
positive or negative attitudes, and a reaction through being motivated to select and buy.

DECISION RULES

When evaluating alternatives, such as choosing which property to purchase or rent, consumers choose
from a list of acceptable alternatives (evoked or consideration set) based on the criteria they have
selected as being important. For a product to be considered by a consumer, he must know that it exists
and perceive that it can satisfy his needs. The criteria a consumer uses to choose between alternative
products are the product attributes the consumer considers important. Consumers may make the
purchase decision using compensatory or no compensatory decision rules. With a compensatory decision
rule, the consumer identifies the important attributes, rates the alternative products on each attribute, and
selects the product with the highest score. With a simple additive rule, the consumer selects the product
that is judged to have the largest number of positive attributes. This is a relatively simple rule used most
often when motivation or ability is limited (Alba and Hammerstein, 1987). Thus, a
consumer might choose the apartment that offers a pool, exercise room, built-in washer and dryer, but
inconvenient location over an apartment with a pool and a convenient location. The weighted additive is
a more complex compensatory rule in which the relative importance of each product attribute is also
factored into the decision. Therefore, the consumer completes the more complicated task of computing a
summated weighted score for each product on the salient attributes and selects the product with the
highest overall score. In contrast, no compensatory decision rules do not balance all attributes and
determine whether the positives outweigh the negatives. Rather, if the product does not meet a minimum
standard on an important attribute, then it will not be considered. Using a conjunctive decision rule, the
consumer sets minimum acceptable levels on all important attributes and eliminates any alternative that
does not meet all the minimums. This helps consumers to narrow down the choices for further
evaluation. If none of the products meets all the cutoff requirements, either the consumer must change
the minimums acceptable or change his or her decision rule (Grether and Wilde, 1984). In the above
example, if the tenant requires a pool, exercise room, built-in appliances, and convenient location, then
neither of the apartments would be acceptable. The consumer will either continue to search for the
appropriate property or compromise on her standards. With the lexicographic rule, the consumer first
ranks the attributes in terms of perceived importance. Then the alternatives are compared on this one
most important attribute. If one scores sufficiently high on this most important attribute, then it is
selected. If two or more are perceived as equally good, they are then compared on the second most
important attribute. This process continues until the tie is broken. Therefore, if a tenant says she selected
an apartment because the balcony has French doors instead of sliding doors, it is important to remember
that this difference may reflect the tie breaker after other, more important, attributes were deemed to be
equal across apartment options. Consumers may use a combination of decision rules in choosing a
property. First, they may use a rule to narrow down the choice set with some simple cutoff, and then they
may apply a more complex compensatory rule to make the final choice. Some criteria are more salient
than others and those attributes will have a greater impact or importance in determining consumer
selections. Whether a characteristic is salient depends on the alternatives and consumers’ evaluation of
them. If, for example, the consumer with small children believes all neighborhoods in the city offer
equally good schools, then school quality is not a deciding factor in which house to buy. Salient
attributes that actually influence the evaluation of alternatives are known as determinant attributes
(Alpert, 1971). The particular criteria consumers use in their decision making depend on situational
influences, similarity among choices, motivation, involvement, and knowledge.
Decisions involving widely disparate alternatives (a single family detached house, a mobile home in a
trailer park, and a houseboat moored at a dock) may require the consumer to use more abstract
evaluative criteria to evaluate the alternatives (Bettman and Sujan, 1987; Corfman, 1991; Johnson, 1984;
Johnson, 1989). The more similar the options, the more the consumer can rely on concrete criteria and
price to make comparisons. The consumer’s motivation for purchasing a property will directly affect the
criteria used to evaluate alternatives. Experienced consumers are more likely to know which dimensions
are useful for comparing alternatives. First-time buyers are more susceptible to external influences
determining what criteria they use during decision-making (Bettman and Sujan, 1987). The average
consumer’s lack of information about all available real estate options may result in the consumer not
purchasing the property that would best serve his needs because he is unaware that the property exists.
Others may make less than optimal decisions because comparing all the properties on all the salient
attributes may be too complex. They may resort to a no compensatory decision-making process to make
the procedure manageable. If consumers are using no compensatory rules to make decisions, then the
real estate appraiser needs to identify which property characteristics are being used to screen properties
and remove the eliminated properties from the list of comparable. Otherwise, the analyst may
overestimate the contribution of certain attributes to value. Property developers and managers need to
recognize whether consumers are making decisions based on cutoffs. If a consumer sets an acceptable
minimum as two bathrooms, then any house with only one and one-half bath would not be considered
and a house with three bathrooms may not be valued any higher than a similar house with only two
baths. Similarly, if consumers are using lexicographic rules, then the property must be perceived to
possess a noticeably higher level of the most important attribute(s) to ensure being selected.

INFORMATION SEARCH

Consumers seek and use information as part of a rational problem solving and decision-making process.
Consumers first search internally for historically gathered information (Bettman, 1979; Punj, 1987).
Experience, length of time since last purchase, and satisfaction with previous purchase will affect the
consumer’s reliance on internal information. As most consumers purchase real estate infrequently, they
rarely rely solely on their past knowledge when selecting a new property to purchase. Consumers may
also conduct an external search of personal and impersonal sources of information. Situational
determinants that can constrain information
search include the quantity and availability of information in the marketplace and time pressure (Beatty
and Smith, 1987). Other factors that influence search behavior are product determinants and consumer
determinants. Product determinants include a variety and type of product features. For example, if
consumers perceive great differences between products, they are likely to make more comparisons. Also,
products characterized by innovations may require consumers to update their knowledge since last
purchase through an information search process. The relatively high price of real estate will create
concerns about the financial risks involved in the purchase and lead to greater search (Kiel and Layton,
1981). Some of the consumer determinants that affect individual search behavior include knowledge,
involvement, beliefs and attitudes, and demographic characteristics. Research has found that product
knowledge may be positively or negatively related to the amount of search (Beatty and Smith, 1987; Kiel
and Layton, 1981; Newman and Staelin, 1972; Punj and Staelin, 1983; Urbany, Dickson, and Wilkie,
1989). Knowledge can allow the consumer to rely more heavily on internal information, but it can also
enhance search by enabling more effective use of newly acquired information. When consumers feel
more confident about their ability to judge products, the will typically acquire more information (Duncan
and Olshavsky, 1982). This implies that there may be an inverted-U relationship between knowledge and
external search (Bettman and Park, 1980). Consumers with extremely limited knowledge (such as first
time homebuyers) may feel incompetent to undertake an extensive search and analysis on their own.
Instead, they may rely heavily on others such as friends, relatives, or salespersons. Moderately informed
consumers possess sufficient knowledge to explore and understand more information, but their
knowledge is not so great that they feel comfortable relying on memory and experience, so they will
undertake more extensive external search on their own.
Consumers differ in their attitudes toward shopping. In general, consumers engage in more
search as their attitudes toward shopping become more favorable (Beatty and Smith, 1987; Punj and
Staelin, 1983). Individual beliefs about the cost versus benefits of search will also guide search (Urbany,
1986). Research indicates that search may be related to several demographic characteristics (Beatty and
Smith, 1987). Age is often negatively related to search (Cole and Balasubramanian, 1993). Older
consumers have greater experience with many products so they can rely on internal information. Higher
income consumers often search less than lower income consumers because of the value of their time
(Urbany, 1986).

 More educated consumers usually search more, perhaps because of their greater confidence in
their ability to undertake the search and use the information gathered effectively (Duncan and
Olshavsky, 1982). Because the modes of information search and, ultimately, decision-making are
a function of both internal and external influences on
behavior, the remaining sections focus on the consumer behavior implications of each.
CHAPTER-II
 PROFILE OF THE ORGANIZATION

PAXMORE REALTY ,
SR NO 159/1A/1,WING-A301,
DATTATRAYA NIWAHAVELI,
FURSUNGI,PUNE,
MAHARASHTRA( 412308)

INDIAN REAL ESTATE SECTOR

The Indian real estate sector is one of the most globally recognized sectors. In the country, it is the
second largest employer after agriculture and is slated to grow at 30 per cent over the next decade. It
comprises four sub sectors - housing, retail, hospitality, and commercial. The growth of this sector is
well complemented by the growth of the corporate environment and the demand for office space as well
as urban and semi-urban accommodations.
According to a study by ICRA, the construction industry ranks third among the 14 major sectors in terms
of direct, indirect and induced effects in all sectors of the economy. It is also expected that this sector
will incur more non-resident Indian (NRI) investments in the near future, as a survey by an industry
body has revealed a 35 per cent surge in the number of enquiries with property dealers. Bengaluru is
expected to be the most favored property investment destination for NRIs, followed by Ahmedabad,
Pune, Chennai, Goa, Delhi and Dehradun. India’s real estate market is expected to increase seven times
by 2028 to reach US$ 853 billion by 2028 from US$ 121 billion in 2013. It is currently the fourth-largest
sector in the country in terms of foreign direct investment (FDI) inflows. FDI in the sector is estimated
to grow to US$ 25 billion in 10 years. Real estate contribution to India’s gross domestic product (GDP)
is estimated to increase to about 13 per cent by 2028, on the back of increasing industrial activity,
improving income level and urbanization. Private equity (PE) investments in real estate in 2013 stood at
US$ 1.1 billion, a 13 per cent increase in INR terms from US$ 1.2 billion in 2012. Total number of deals
increased from 34 in 2012 to 40 in 2013, with an average deal size of US$ 28.0 million. The
Government of India has allocated US$ 1.3 billion for Rural Housing Fund in the Union Budget 2014-
15. It has also allocated US$ 0.7 billion for National Housing Bank (NHB) to increase the flow of
cheaper credit for affordable housing for urban poor. The entry of major private players in the education
sector has created vast opportunities for the real estate sector.
Emergence of nuclear families and growing urbanization have given rise to several townships that are
developed to take care of the elderly. Growth in the number of tourists has resulted in demand for service
apartments. This demand is likely to be on the uptrend and presents opportunities for the unorganized
sector.

MARKET SIZE

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. According to a study by Knight Frank, Mumbai is the best city in India for commercial
real estate investment, with returns of 12-19 per cent likely in the next five years, followed by Bengaluru
and Delhi-National Capital Region (NCR). Also, Delhi-NCR was the biggest office market in India with
110 million sq ft, out of which 88 million sq ft were occupied. Sectors such as IT and ITeS, retail,
consulting and e-commerce have registered high demand for office space in recent times.

INVESTMENTS

The Indian real estate sector has witnessed high growth in recent times with the rise in demand for office
as well as residential spaces.
Blackstone Group Lp is all set to become the largest owner of commercial office real estate in India after
a three-year acquisition drive in which it spent US$ 900 million to buy prime assets. According to data
released by Department of Industrial Policy and Promotion (DIPP), the construction development
sector in India has received foreign direct investment (FDI) equity inflows to the tune of US$ 24,012.87
million in the period April 2000-December 2014.
Some of the major investments in this sector are as follows:
 Google Capital has invested in Bengaluru-based online property search platform,
 CommonFloor.com.
 Omkar Realtors and Developers Pvt Ltd is in talks to raise Rs 400 crore (US$ 66.68 million)
from KKR India Asset Finance Pvt Ltd, the local arm of global investor Kohlberg Kravis Roberts
and Co LP (KKR).
 Goldman Sachs Group bought shares worth Rs 255 crore (US$ 41.23 million) in Vatika Hotels
Pvt Ltd, a company owned by real estate and hospitality firm Vatika Group.
 SoftBank Internet and Media Inc will invest, along with Falcon Edge Capital and others, US$ 90
million in Locon Solutions Pvt Ltd, which runs Housing.com - a realty website.
 The Qatar Prince, Hamad bin Khalifa Al Thani, plans to invest Rs 1,000 billion (US$
16.17 billion) over the next five years in at least 10 smart cities of India. He has already tied up
with a Delhi-based businessman for taking the investment forward through projects in real estate,
sea ports and airports, besides smart cities.
 Real estate firm Supertech has planned to invest about Rs 2,000 crore (US$ 323.49 million) in
Gurgaon over the next few years by launching several luxury and affordable projects.

GOVERNMENT INITIATIVES

Under the Sardar Patel Urban Housing Mission, 30 million houses will be built by 2022, mostly for the
economically weaker sections and low-income groups, through public-private- partnership (PPP),
interest subsidy and increased flow of resources to housing sector', according to Mr M Venkaiah Naidu,
Union Minister of Urban Development, Housing and Urban Poverty Alleviation and Parliamentary
Affairs, Government of India.
The Government of India along with the governments of the respective states have taken several
initiatives to encourage the development in the sector. Some of them are as follows:
 The Government of Maharashtra has announced a series of measures to bring transparency and
increase the ease of doing business in the real estate sector.
 The Government of India has relaxed the norms to allow foreign direct investment (FDI) in the
construction development sector. This move should boost affordable housing projects and smart
cities across the country.
 The Securities and Exchange Board of India (SEBI) has notified final regulations that will govern
real estate investment trusts (REITs) and infrastructure investment trusts (InvITs). This move
will enable easier access to funds for cash-strapped developers and
 create a new investment avenue for institutions and high net worth individuals, and eventually
ordinary investors.
 The Telangana Real Estate Developers' Association (Treda) plans to host the Fifth Treda
Property Show 2014 at Hitex Centre, Hyderabad. The show will be open to a mix of the
populace, including prospective property purchasers, investors, architects and others.

ROAD AHEAD

Responding to an increasingly well-informed consumer and keeping in mind the globalization of the
Indian business outlook, real estate developers have also shifted gears and accepted fresh challenges.
The most marked change has been the shift from family-owned businesses to professionally managed
ones. Real estate developers, in meeting the growing need for managing multiple projects across cities,
are investing in centralized processes to source material and organize manpower and hiring qualified
professionals in areas like project management, architecture and engineering.
The growing flow of FDI into Indian real estate is encouraging increased transparency. Developers, in
order to attract funding, have revamped their accounting and management systems to meet due diligence
standards.

REAL ESTATE POTENTIAL IN PUNE

Pune real estate has clocked sales of around 53,000 housing units in the period between January and July
2021 as compared to about 49,000 housing units between January and July 2019 indicating an almost 8%
growth. Pune real estate clocked sales worth approximately Rs27,500 crore from January to July 2021 as
compared to around Rs21,500 crore from January to July 2019 indicating an about 27% growth in the
sales of higher ticket size housing units in 2021, revealed the report released during CREDAI-Pune
Metro’s 38th annual general meeting (AGM) on Monday. Pune has clocked sales of around 53,000
housing units in the period between January and July 2021 as compared to about 49,000 housing units
between January and July 2019 indicating an almost 8% growth, according to a real estate market
analysis report by CREDAI-Pune Metro and CRE Matrix.

In value terms, Pune has clocked housing sales worth approximately Rs 27,500 crore from January to July
2021 as compared to around Rs 21,500 crore from January to July 2019 indicating an about 27% growth
in the sales of higher ticket size housing units in 2021, revealed the report released during CREDAI-
Pune Metro’s 38th annual general meeting (AGM) on Monday. Region-wise in the period between
January and July 2021, 26% of housing sales came from the northwest (Baner, Balewadi up to
Mahalunge) at Rs7,160 crore; 23.5% came from Pimpri-Chinchwad; while 19%, 15%, 14% and 3% of
housing sales came from the northeast, southwest, southeast and central Pune, respectively. Housing
units priced above Rs2 crore per unit witnessed cumulative sales worth Rs2,350 crore from January to July
2021 with an 88% growth as compared to cumulative sales worth Rs1,250 crore from January to July
2019. Whereas housing units priced below Rs70 lakh per unit witnessed 63% cumulative sales from
January to July 2021 as compared to 69% from January to July 2019, indicating a rise in the sales of
higher ticket size housing units in 2021. Pune witnessed launches of large-sized projects from January to
July 2021, indicating rising buyer preference for community living vis- à-vis individual housing and
small societies.

Anil Pharande, president, CREDAI-Pune Metro, said, “An informed market research based on real-
time survey is the right way to tackle the turbulent times faced by the real estate market today. The
report has real sales data derived from IGR Maharashtra and what makes it interesting is that it
compares sales for the same period in the two preceding years, 2019 and 2020, with optimistic results.
This collaboration with CRE Matrix will enable our member developers to analyse markets
scientifically and plan projects successfully.” Meanwhile, CRE Matrix said that it collected the data
through two platforms including Indextap and Floortap that provide authentic information on real
estate.
PUNE'S REAL ESTATE MARKET IN THE NEXT 10 YEARS

Pune is among the few cities in India that have accelerated steadily, and has made it among the 100 top
cities in the country for its Real Estate sector.

Over the past five years, Pune’s real estate sector has evolved a lot and has been influenced by numerous
factors. Among them, demonetization and GST implementation are the two major aspects that created a
slight stir within the real estate sector across India. However, since
Pune’s real estate has always been known to be steady, it balanced it out and stood as a clear winner
even under this critical situation. For such reasons, it is deemed that next 10 years from now will be
wonderful and lucrative for the real estate market of Pune.

Progressive Business Model in Pune’s Real Estate Sector

The main reason for this is the progressive business model adopted by the developers
and builders in Pune. After implementation of strict guidelines and regulations from the Indian government
and introduction of the RERA Act in 2017, the developers have now altered their business model. The new
model focuses on timely completion of projects, equipping amenities that are promised, and ensuring
high-quality of construction.

Increased Transparency between Developers and Buyers

Just like other regions, even Pune experiences an increased number of developers and builders joining
hands with reputed national and international brands for raising funds and mitigating the risks. So, it is
expected to deliver good transparency and will ultimately lead to restoring the confidence of buyers in
the sector.

An Assortment of Projects in All Categories

The builders in Pune are focusing more on completing their existing projects, rather than introducing new
ones. As a result, this serves as a golden opportunity for the fence-sitting home seekers and investors to
take the plunge in the real estate market of Pune. Also, there are multiple options available from
affordable housing to mid and luxury housing. Therefore, buyers can grab their dream house within their
budget limit.

Unmatched Infrastructure
Since Pune holds proximity to Mumbai, it already boasts of a well-developed and well-planned
infrastructure. But, besides an existing impressive infrastructure, there are few other projects in
the pipeline, which are only going to add positives and gains to the real estate sector. Few of the top-
notch projects are:
· Metro Rail
· An International Airport
· Bus Rapid Transit System

Sound Returns on Investment

The real estate segment of Pune is not only beneficial for end-user investment, but also for profitable
investments. According to the Indian Real Estate Report, January – June 2017, Pune is held as one of the
sound real estate markets with less unsold inventory and more number of completed projects.

In a nutshell, the real estate market of Pune is expected to boom in the next ten years as it houses all the
elements required for healthy and sustainable growth of the realty sector.

SOME REAL ESTATE DEVELOPERS OF PUNE –

 Godrej Properties

 Kolte Patil Developers

 Kumar Properties

 ABIL Group

 Puravankara Limited

 Lodha Group

 Shobha Limited

 Kalpataru Group

 Majestique Landmarks

 Rohan Builders and Developers

 Paranjape Schemes Construction

 Panchshil Realty
  VTP Realty

PAXMORE RELITY PVT.LTD.

OVERVIEW

PAXMORE Realty is a company with rich experience in real estate advisory that believes each real

estate experience should be a simple and successful execution from a Dream to Reality. Our team of Real

Estate advisors is driven by the fundamental values of customer satisfaction, credibility, and

professionalism PAXMORE Realty has some of the best professionals in the real estate industry who

specialize in finding property just as per your requirement.

Website
https://paxmorerealty.business.site/

Industries :Real Estate Company

size :2-10 employees
Headquarters: Chinchwad, Maharashtra
Type :Self-Owned
Founded :2019
DIRECTORS

PAXMORE REALITY Private Limited has three directors - , Mr.Abhay Kumar Singh and
Mr.Satish Dange

The longest serving directors currently on board are Mr.Abhay Kumar Singh and Mr.Satish
Dange

who were appointed JAN 2019. They have been on the board for 4 years.

CHAPTER III: RESEARCH METHODOLOGY

A good research design ensures against wasteful expenditure of time, money and energy. Thus,
this chapter should contain information on the following points:
Sampling Design
 Source and methods of Data Collection
Methods of data Analysis and statistical Techniques (Types of Tests if any) Key
concepts and Definitions
Limitations of the Study
The detail descriptions of these points are as under:

Sampling Design:
This point should cover the following:
 Define population with reference to project
 Sampling unit should be specified

BUSINESS OBJECTIVES

Our main objective is transparent deals of properties by providing latest, extensive and reliable
information of real estate sector on our portals and providing advisory services in Loans, Mortgages, Tax
Planning etc. Visits on our portals are in large numbers. Prospective property- buyers throughout India are
making numerous queries on our portals because of our latest and true information on both real estate
sector and Financial advisory services.

OUR VALUES

Customers first
Catering to our clients’ needs, preferences, and expectations effectively and speedily is part of our DNA.
We believe in providing personal and individual service which we assess against core values such as
integrity, ethics and diligence.

Innovation
We know we can achieve our goal of spear heading the regional real estate business only by embracing
innovative ideas and technology in a constantly changing environment.
Quality
Adherence to high quality standards is the key to delivering value for money to our customers and
creating client delight. Quality is the driving force behind our work and our products. We believe in
"doing it right the first time."

Integrity
At PAXMORE REALITY Pvt. Ltd., we believe in scrupulous professional integrity. We deliver what
we promise!

Responsible Corporate Citizenship

As responsible corporate citizens, we provide an enhanced living experience to our customers through
sustainable development. We are actively involved in exemplary environmental practices as caring
corporate citizens. Embracing and promoting sustainable development is at the heart of our core
strategy.
CHAPTER-III
 RESEARCH METHODOLOGY

SAMPLING DESIGN

QUANTITATIVE RESEARCH
Quantitative research design is aimed at discovering how many people think, act or feel in a
specific way. Quantitative projects involve large sample sizes, concentrating on the quantity of
responses, as opposed to gaining the more focused or emotional insight that is the aim of qualitative
research.

DESCRIPTIVE RESEARCH
Descriptive research is a type of research that is used to describe the characteristics of a
population. It collects data that are used to answer a wide range of what, when, and how questions
pertaining to a particular population or group.

SOURCE AND METHOD DATA COLLECTION

Research data is collected though Primary data and Secondary data.

PRIMARY DATA is collected through questionnaire, search and research from customers and
developers.
SECONDARY DATA is collected through websites like Magic bricks, 99acres, housing.com, journals
and books.

RESEARCH PROBLEM
Real Estate Corporate facing financial crunch due to Covid 19. Some
builders fail to give possession on time.

SAMPLE SIZE
Sample size for the research is 100.

SAMPLE AREA
Pune (East Pune)
 LIMITATIONS OF THE STUDY

 There was a time constraint, as study continues for a limited period.

 A single person has conducted the study and as a result only limited numbers of people were

being contacted.

 The data provided by the investors may be biased, which may affect the purpose of study.

 Some people found it unsafe to disclose actual information about their investments, which

affected study.

 Study is limited to customers of PAXMORE REALITY Private Limited.

 The study is conducted for a limited area i.e., Pune, other areas are not taken in

consideration.
CHAPTER-IV
 DATA ANALYSIS AND INTERPRETATION

1. Do you think real estate developers give possession timely?

a) Yes ( ) b) No () c) Can’t Say ()

Yes No Can’t say

60 30 10

10

30

60

Yes No Can’t say

Chart no. 4.1

Interpretation

In the above analysis it is interpreted that 60% people think that builders give possession on time. While
30% people think that builders don’t give possession on time and 10% people are not sure about
possession.
2. How much are you satisfied from real estate marketing information provided by
real estate companies?

a) Highly Satisfied () b) Satisfied () c) Neutral ()

d) Dissatisfied () e) highly dissatisfied ()

Highly Satisfied Neutral Dissatisfied Highly

Satisfied dissatisfied

35 22 10 15 18

40

35

30

25

20

15

10

highly satisfied satisfied nutral dis satisfied highly dis satisfied

Chart no. 4.2

Interpretation

In the above analysis it is interpreted that 35 people are highly satisfied and 22 people are satisfied which
comes to total of 57 people are happy with the information provided to them as compared to that of 33
people are not so satisfied with it.
3. Which Location do you prefer?

Undri Hadapsar Keshav Nagar Kharadi

10% 25% 20% 45%

Location
50

45

40

35

30

25

20

15

10
Undri Hadpsar Keshav nagar Kharadi
5
Location
0

Chart no. 4.3

Interpretation

In the above analysis it is interpreted that maximum people prefer Kharadi area as compare to Hadapsar,
Keshav nagar, Undri and other locations because of IT parks and other facilities.
4.What source of information do you prefer while buying/ searching for a property?

a. Print media () b. TV & Radio () c. Internet ()

d. Outdoor add () e. Personal Reference () f. Broker ()

10%

Print Media
7%
50% TV & Radio Internet Outdoor
Personal Reference

15% Broker

5%
13%

Chart no. 4.4

Interpretation

Here we get to know that people prefer Brokers/Consultant for purchasing a property. They also prefer
searching through Internet and Print media for better options. Very few people would search and go
through TV & Radio and other sources.
 5) What is your estimated budget?

a. <50 lacs b. between 50 to 70 lacs c. between 70 lacs to 1 cr d. >1 cr

45%
40%
40%

35%

<50 lacs
30%
25%
25% between 50 to 70 lacs

20%
20%
between 70 lacs to 1 cr
15%
15%
>1 cr
10%

5%

0%

<50 lacs between 50 to 70 between 70 lacs to >1 cr

lacs 1 cr

Interpretation

The budget is something which matters a lot for customer. A proper estimated budget can make things
easy for short listing the properties from a huge market. Budget plays a key role while purchasing a
property.
 6) Do you think real estate web portal bridges the information gap between the real
estate developers and customers?

a. yes ( ) b. no ( ) c. can’t say( )

Yes No Can’t say

75 20 5

80
75

70

60

50
Chart no. 4.6

40

30

20
20

10
5

0
YES NO CAN’T SAY

Interpretation

Real Estate developers firstly understand the demand and need of customer from which the information
gap is reduced between them. Real estate developer reduces customer work and makes work done easy
for customers. While on other side, customer is not aware of the builder and all other details.
7) Do you need home loan assistance by any bank?

a. Yes ( ) b. no ( )

Yes No
85 15

90
85

80

70

60

50 Yes
No
40
30 25
20

10

0
YesNo

Chart no. 4.7

Interpretation

Loan assistance is must. Builders provide loan assistance from few banks but the company makes it more
flexible for a customer by providing loan assistance from maximum banks.
 8) Are you satisfied with the services provided by the PAXMORE REALITY?

Highly Satisfied Neutral Highly Dissatisfied Total

Satisfied Dissatisfied

20 40 20 8 12 100

50

40
45

4020

35

30
Chart no. 4.8

Highly Satisfied
Satisfied Neutral
25
Highly Dissatisfied
Dissatisfied
20

15
12
20 8
10

0
Highly SatisfiedSatisfied Neutral HighlyDissatisfied
Dissatisfied

Interpretation

The analysis shows everything, maximum customers are satisfied with the services provided by us
because employees understand the customers need and puts all his efforts for fulfilling their need.
9) While purchasing the property what attracts you more?

1. Locality 2. Connectivity 3. Price 4. Brand image 5. Others

10%

15%

30% Locality
Connectivity Price
Brand Image
Others

25%

20%

Chart no. 4.9

Interpretation

As everything is equally important but the analysis pretends us that customer gets more attracted through
locality first and then price, connectivity, brand image and all comes into place.
10) What is your purpose to buy a property?

Self-Use Investment

75 25

Interpretation

The

research

show that

maximum

customers

buy property

for their

own

use while

some customers want to buy it f orChart no. 4.10

investment rpose as Investing in real estate is one of the

secure investments.
CHAPTER-V
 FINDINGS

1) During the time of survey, it was found that people want purchase property as they want to live in
their own home instead of staying on rent.

2) It was found that the price & location are major factors which consider by the customer at the
time of purchasing the property. (Please refer chart No. 4.9)

3) Here 30% respondents are considering the location, 25% respondents are considered price,
20% respondents are considering connectivity transportation & market facility. (Please refer
chart No. 4.9)

4) It was found that the ‘quality’ & ‘facilities’ are most considerable parameters at the time of
selecting residential property. Brand Name & schemes are also considering the consumer at the
time of purchasing the residential property. (Please refer chart No. 4.9)

5) It was found that the source of information for consumers the real estate consultant plays very vital
role. 50% respondents go through the consultants/brokers, 5% respondents prefer relatives &
friends, 15% get all details from internet and go directly, 10% go through newspapers & 20%
respondents prefer through hoarding & others sources. (Please refer chart No. 4.4)

6) It was found that most of 25% customers are searching property within 50 lacs, 40% customers
are having budget between 50 lacs to 70 lacs. While 35% customers have the budget of 70 lacs to
1 Cr and above 1 Cr. (Please refer chart No. 4.5)

7) In the mode of payments 85% respondents go through home loans of various banks & private
financial institutes, 15% respondents go self-payment mode. (Please refer chart No. 4.7)

8) It was found that the maximum customers are satisfied by services provided from PAXMORE
REALITY Pvt. Ltd. while some customers were neutral and few were not
 satisfied. (Please refer chart No. 4.8)

9) It was found that real estate portals like Magic Bricks, 99acres, Housing.com and etc. helps
customers and bridges gap between customer, broker & builder by providing project details.
(Please refer chart No. 4.6)

It was found that maximum customers are interested to buy property in kharadi, Hadapsar or nearby

because of IT Parks. While least people are interested to buy property in outer side like undri. (Please

refer chart No. 4.3)

SUGGESTIONS

Suggestions to PAXMORE TEALITY Pvt. Ltd. –

 First and foremost, the database generated through the project should be put to effective use
through continuous follow-ups to the potential customers. A follow-up should be made on the
industry potential as a whole as well.
 Company should provide information according to people’s need and necessity. And for that they
can open daily polling on their web portal.
 Company should not always try to attract the new customers only, but should also take feedbacks
from existing once, and try to remove their problems and learn from their experience.
 Company should update its customer’s database once in a month.

Suggestions to customer –
 Customers should check all the legal and technical documents and ask the details of the
builders/project, before buying or searching house.
 Customers should go through all the terms and conditions of the project developed.
 Customer should be aware of the government’s policy related to ‘Real Estate.

Suggestion to Project Developer (Builder) –

 Builders should show their legal and technical documents to the customers, 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.
CHAPTER-VI
 CONCLUSION

It has been concluded that every consumer is not same. Each consumer has their own preferences, tastes,
needs according to which he buys the property. For any developing economy the Real Estate sector is
the key contributor of the GDP. Buying a house is a dream of every person that everyone wants to fulfill.
It involves multiple parameters to consider before purchasing a house. Even these parameters are
different for each individual thus this study attempts to analyze the human behavior and consumer
behavior, in a way mindset of people while they plan to purchase a house. This study provided evidence
and information as to what really influences the intention to purchase property. The study can thus serve
as a future reference on the study of real estate.
BIBLIOGRAPHY
 Bibliography
 The ABC of Real Estate in India. (Author – Sachin Mittal)

 The real book of Real Estate (Author – Robert Kiyosaki)

 Consumer Behavior (Author – Vishwajeet Prasad)

 Magicbricks, (2012). Guide to buying a house.

 Indian Real Estate: Opening doors (2014). KPMG NAREDCO report, www.kpmg.com/in,
retrieved on 23 April 2015.

 What the budget means for you. (2014, July 11). Economic Times. Pune, pp. RealEstate’s
share in GDP estimated to 6.3 % , (2013, July 21) Economic Times.

 Deb, S. (2005). The layman’s Guide to Buying a House. New Delhi OutlookMoney
Books.
ANNEXURE

QUESTIONNAIRE
PERSONAL DETAILS

NAME :-

CONTACT NO :-

E-MAIL:-

OCCUPATION :- SERVICE / BUSINESS

REQUIREMENT : - 1BHK/2BHK/3BHK POSSESSION

:- READY / UNDER CONSTRUCTION BUDGET : - 30

LAC/50 LAC/80 LAC/ 1 CR LOCATION :-

HADPSAR/KHARADI/NIBM-UNDRI

PURPOSE OF PURCHASE : - SELF USE / INVESTMENT

1) What is your present type of property?

 Ownership  On rental

2) Which factor do you take in to consideration while purchasing residential

properties? (Choose any one)

 Location  Price

 Transportation facility  Accessibility to market

3) Kindly Indicate the source of information that you consider for property purchasing?

 Hoarding  Newspapers

 Agent  Relatives

4) Which area do you prefer?

a) Hadpsar
b) Kharadi
c) Undri
d) Wagholi
e) Others ………………………………….
5) What will be your mode of purchase of residential property?

 Home Loans  Lum sum

 Installments  Others

6) What Problems have you faced while dealing with the REAL ESTATE DEALERS?
_ _ _ _
_ _ ___ _

7) While purchasing the properties what attracts you more?

 Locality  Connectivity

 Price  Brand image

8) Are you aware about real estate schemes provided by Government?

 Yes  No

9) Do you want to purchase new property or resale property?

 New  Resale

10) How much Carpet area do you expect

for 2BHK flat?

 700 sq.ft  800 sq.ft

 900 sq.ft  1000 sq.ft