A

PROJECT REPORT

ON

“A STUDY ON CUSTOMER EXPECTATIONS TOWARDS BUYING RESIDENTIAL

PROPERTIES AT V.J. DEVELOPERS, PUNE”

SUBMITTED TO
SAVITRIBAI PHULE PUNE UNIVERSITY
IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR AWARD OF THE DEGREE
OF

MASTER OF BUSINESS ADMINISTRATION

SUBMITTED BY

CHETAN BALKRISHAN GANGURDE

MBA (Marketing)

UNDER THE GUIDANCE OF

PROF. ABHISHEK KOTTAPALLE

SINGHGAD INSTITUTE OF MANAGEMENT

(Academic Year 2021-2023)
 DECLARATION

I, Chetan Balkrishan Gangurde, hereby declare that the project report entitled “A study on
customer expectations towards buying residential properties at VJ developers, Pune” written and
submitted by me to the Savitribai Phule Pune University, Pune in partial fulfillment of the
requirement for the award of degree of MBA under the guidance of Prof. Abhishek Kottapalle ,
is my original work except the topics on organizational profile and the conclusion drawn therein
are based on the material collected by myself.

Place: Sinhgad Institute Of Management

Date: Chetan Gangurde

 ACKNOWLEDGEMENT

I take this opportunity and privilege to express my deep sense of gratitude to Professor M. N.
Navale, Honorable Founder President, Dr. (Mrs.) Sunanda M. Navale, Founder Secretary, The
Sinhgad Technical Education Society, Pune and Dr. Daniel Penkar, Director SIOM. They have
been a source of inspiration to me and I am indebted to them for initiating me in the field of
research.

I am deeply indebted to Faculty Member, SIOM Abhishek Kottapalle, my research guide at

Sinhgad Institute of Management, Pune, without whose help completion of the project was
highly impossible.

I take this opportunity and privilege to articulate my deep sense of gratefulness to the Managing
Director and the staff of the Vilas Javdekar Developers, Pune for their timely help and positive
encouragement.

I wish to express a special thanks to all teaching and non-teaching staff members of Sinhgad
Institute of Management, Pune for their continuous support. I would like to acknowledge all my
family members, relatives and friends for their help and encouragement.

Place: Sinhgad Institute of Management

Date: Chetan Gangurde

 INDEX

CHAPTER NO. PARTICULARS PAGE NO.

EXECUTIVE SUMMARY

I Introduction To Study 1-15

II Profile of The Organisation 16-26

III Research Methodology 27-32

IV Data Analysis and Interpretations 33-51

V Findings and Suggestions 52-53

VI Conclusions 54

BIBLIOGRAPHY

ANNEXURES
 LIST OF TABLES AND GRAPH

Table No. Graph No. Particulars Page No.

Table No. 4.1 Graph No. 4.1 Properties owned by customers 33

Table No. 4.2 Graph No. 4.2 Ownership of the property of the respondents. 34

Table No. 4.3 Graph No. 4.3 Types of apartment people reside in 35

Table No. 4.4 Graph No. 4.4 Expectation of carpet area provided 36

Table No. 4.5 Graph No. 4.5 Construction quality of the house 37

Table No. 4.6 Graph No. 4.6 Expectations of carpet area and quality 38

Table No. 4.7 Graph No. 4.7 Rating experience with VJ 39

Table No. 4.8 Graph No. 4.8 Timely possession of the property 40

Table No. 4.9 Graph No. 4.9 Trustworthiness of VJ as a brand 41

Table No. 4.10 Graph No. 4.10 Factors influencing buying decision 42

Table No. 4.11 Graph No. 4.11 Parameters considered for purchasing property 43

Table No. 4.12 Graph No. 4.12 Amenities considered while selecting property 44

Table No. 4.13 Graph No. 4.13 Satisfaction level of customers 45

Table No. 4.14 Graph No. 4.14 Parking spaces provided 46

Table No. 4.15 Graph No. 4.15 Services provided by VJ 47

Table No. 4.16 Graph No. 4.16 Expected service provided by VJ 48

Table No. 4.17 Graph No. 4.17 E-registration services provided by VJ 49

Table No. 4.18 Graph No. 4.18 Participation in Activities 50

Table No. 4.19 Graph No. 4.19 Recommending VJ to property buyers 51

 LIST OF FIGURES

Figure No. Title of the Figure Page No.

Figure No.2.1 VJ Developers logo 16

Figure No.2.2 Images of ongoing project by VJ Developers. 22

Figure No.2.3 SWOT Analysis 25

Figure No.3.1 Data collection methods 30

 EXECUTIVE SUMMARY

Customer have the basic necessities like Food, clothing and Shelter. Food and Clothing are
necessities that are fast moving in nature, but shelter is one necessity that is a major investment
in an individual's lifetime. When a customer makes such an investment with VJ Developers it’s
their responsibility to understand customer’s satisfaction and opinion about the product.

Customer expectations analysis plays an important role in strategic planning. It is helpful for the
management to understand their competitive advantages/disadvantages with respect to their
competitors and to generate understanding of past, present and future strategies.

It will help the company to understand the basis of the competition and counter it with improving
their services and products to satisfy their customer needs.

This project is done during the work of two months as a management trainee, in "Vilas Javdekar
Developers" on the topic "A study on consumer expectations and perceptions towards buying
residential properties ".

The study introduces to the ever expanding sector of real estate which is a major player in the
development of the country. It also analysis if the company is working toward betterment of their
customers and their visions.

The research study was conducted by studying previous research papers based on related topics.
A suitable type of research methodology was used and overall analysis of the expectations were
analysed.

The survey was conducted using an online questionnaire consisted of questions related to the title
of project to collect the data to understand their expectations and preferences; which was sent out
to a sample of customers. The questionnaire also includes questions regarding the development
initiatives, their satisfaction level with the lifestyle offered, and their preferences in terms of
amenities and services.

By analyzing the collected data findings were drawn and suggestions were given on the basis of
findings. The research findings indicate that customers have favourable expectations of the
company's development initiatives. At the end conclusion was drawn.
 Chapter I

INTRODUCTION TO STUDY
 Chapter I

INTRODUCTION TO STUDY

1.1 Introduction

Whenever a person goes to buy a residential property, he is very confused. At that time he
doesn’t have a clear-cut vision of, which builder or place to choose, genuine price and various
other factors. So at that time what is there in the mind of the consumer and what all things he is
expecting from the builder etc .Will his expectations for his own house would be met or not.

The expectations and perceptions of consumers when purchasing residential properties can vary
depending on the individual’s needs and wants. Generally, consumers expect a home to be
functional and comfortable. They also expect it to be in a good condition and up to current
safety standards.

Consumers also have certain aesthetic expectations for residential properties. They want a home
that is aesthetically pleasing and well-decorated. This may include modern amenities such as
smart home technology as well as well-maintained parks and landscaping.

For some consumers, location is a major factor in their purchasing decisions. They want a
property that is close to their offices, shopping centers, schools, and other amenities. They may
also want a property that is close to parks, and public transportation.

Finally, many consumers expect residential properties to be affordable. This means that they
want a home that is within their budget and offers a good value for the money. This can include
factors such as the size of the home, the number of bedrooms and bathrooms, and the quality of
materials used in the construction.

Overall, consumer expectations and perceptions when purchasing residential properties can
vary greatly depending on individual needs and wants. However, all consumers expect a home
to be functional, comfortable, and aesthetic which gives them a feeling of comfort.

1
Consumers' expectations from the builder and developers he chooses to purchase the properties
with are crucial for a builder to understand. Facilities and features to provide in the projects so
as to meet their consumer's needs.

Keeping this situation in mind this project report and data collection were conducted so as to
provide critical analysis for conclusions to increase consumer retention in Vilas Javdekar
Developers, Pune.

Real estate sector is a vital section of the Indian market structure. Since a lot of opportunities
are available in the real estate sector so there are a lot of companies and Project developers
operating in the Indian real estate sector. Then at this junction, the understanding of perception
and knowing the expectations become very much important. So after finding the reason for all
these we can provide maximum satisfaction to the customer.

1.2 Marketing

Marketing includes activities undertaken by a business establishment or an individual to

promote their services and products. Marketing includes promotion, advertisement and selling
products and services to the consumers.

Marketing is the key component of any venture and includes aspects like writing product
descriptions, designing website pages, improving customer services, establishing business &
market segments and conducting market research. Marketing involves strategies that aid in the
growth of a business venture. It also involves activities that help establish a strong customer
base and increase customer loyalty. Additionally, marketing helps a business to understand its
target audience and create effective strategies to reach out to them.

Marketing is a process used to identify, anticipate and satisfy customer requirements profitably.
It involves the identification of customer needs, the development of a product or service to meet
those needs, the pricing of that product or service, the promotion of it, and finally the
distribution of it to the customer. In other words, marketing involves understanding the
customer, creating value for the customer, communicating that value, and delivering that value
to the customer.

2
 1.2.1 Definition
“The science and art of exploring, creating, and delivering value to satisfy the needs
of a target market at a profit. Marketing identifies unfulfilled needs and desires. It
defines, measures and quantifies the size of the identified market and the profit
potential”
- Dr. Philip Kotler (2012)

1.3 Consumer Expectations

1.3.1 Expectations

When investing in commercial real estate, buyers often have high expectations of the
property they are purchasing. Buyers may expect the property to be in good condition,
provide a return on their investment, and be a sound investment for the long term. They may
also expect the property to be up-to-code with all applicable zoning and building
regulations, as well as provide amenities that make it attractive to potential tenants. Lastly,
buyers may expect the property to be competitively priced in the market to maximize their
return on investment.

1.3.2 Process of expectations

Sensing: The sensing stage involves customers' physical senses, meaning what they see,
touch, taste, hear and feel related to your product or services, such as the music playing in
the background at a retail store or restaurant.

Organizing: After customers have a sensory experience, their minds organize this
information based on their own personal values and beliefs. For example, a customer may
consider where to eat for dinner by comparing menu prices, distance from their house and
the sustainability practices of different restaurants.

Reacting: The reacting stage is when customers decide to act. This might mean they make
a purchase from your company, purchase from another business or don't buy the product.

3
1.3.3 Types of expectations

1. Quality: Consumers expect good quality construction and materials in the projects that
they are investing in.

2. Transparency: Consumers expect complete transparency in the legal and financial

transactions related to the property.

3. Professionalism: Consumers expect the builder and developer to adhere to the highest
standards of professionalism and ethical practices.

4. Timely Delivery: Consumers expect the projects to be delivered on time without any
delays.

5. After-sales Service: Consumers expect the builder and developer to provide them with
after-sales services like repairs and maintenance.

6. Affordable Pricing: Consumers expect the project to be priced in a reasonable and

affordable range.

7. Security: Consumers expect the projects to be safe and secure with all necessary safety
precautionary measures in place.

8. Amenities: Consumers expect the projects to be equipped with all necessary amenities
and facilities.

9. Responsive: Consumers expect the builder and developer to be responsive to their

queries and concerns.

10. Flexibility: Consumers expect the builder and developer to be flexible and
accommodating to their needs and preferences.

4
1.4 Real Estate

Real estate is a broad term that covers a wide variety of property types, including
residential, commercial, industrial, agricultural, and other types of land and buildings. It
encompasses the buying, selling, leasing, and managing of these properties, as well as any
associated legal aspects. Real estate can also include the financing of these properties, as
well as any associated tax implications.

1.4.1 Real Estate sector in India

The real estate sector in India is one of the most important sectors of the Indian economy. It
contributes significantly to the country's GDP and provides employment to a large number
of people. The sector is also an important source of revenue for the government.

The sector is highly regulated by the government and is subject to various taxes and
regulations. In recent years, the sector has seen a lot of changes owing to the introduction of
the Real Estate Regulation and Development Act (RERA) in 2016. The act aims to bring
transparency and accountability in the sector and protect the interests of buyers and
investors.

The sector is expected to grow significantly in the coming years due to the increasing
population and urbanization. The government has also taken various steps to boost the
sector, such as allowing foreign direct investments, providing tax incentives, and
developing smart cities.

The sector is likely to benefit from various reforms and initiatives taken by the government.
This will provide immense opportunities for investors and developers to capitalize on the
growth in the sector.

5
1.4.2 Residential Properties

Residential properties are any type of real estate that is used for residential purposes.
Residential properties generally have a low rental rate and are typically used as primary
residences for an individual or family. They are usually sold for a higher price than other
types of properties. Residential properties often include amenities such as pools,
playgrounds, and tennis courts, and may also include additional living space such as a
basement or garage.

1.4.3 Commercial Properties

Commercial properties are real estate properties used for business activities, including
offices, warehouses, retail spaces, and industrial sites. They are not residential properties,
such as single-family homes, townhomes, or apartments.

Types of commercial properties:

1. Office Buildings

2. Retail Spaces

3. Industrial Buildings

4. Multi-Family Housing

5. Hotels

6. Mixed-Use Developments

7. Special-Purpose Properties

8. Self-Storage Facilities

9. Land

10. Warehouses

6
1.5 Objectives

 To Study and understand meaning and concept of customer expectations at V.J.

Developers, Pune.

 To understand the expectations of buyers while buying residential properties at V.J.

Developers, Pune.

 To analyze the customer response and observations towards the services and

amenities in residential properties at V.J. Developers, Pune.

 To identify the buyer preference towards buying residential properties at V.J.

Developers.

 To find weather V. J. Developers meet the expectations of their customers.

1.6 Scope

The project undertaken studies about customer expectations while buying residential
properties. It analyzes the basic needs of a home buyer while purchasing a property.
Also the study has geographical scope of Pune city region where a survey has been
conducted amongst customers of the real estate market.

7
1.7 Limitations

 This study focuses on the perceptions and expectations of the customers and not on

any other marketing aspect.

 This project was only restricted to the residential properties of Vilas Javdekar

Developers & not commercials or others properties.

 The data was analysed on the basis of responses given by the respondents on basis of

their knowledge and willingness to respond thus there may be inaccuracy in data of

report

 The survey was restricted to selected areas in Pune city only.

 Only 60 days were given for the research which is a very short time for research in real

estate.

 The total strength of the sector is too large to cover within stipulated time.

8
1.8 Literature Review

Author: Subham Mohanty in Subham Mohanty, Business, TOI

Title: Changing customer expectations in real estate

Date: 20th March 2021

Review:

The real estate industry has recently become customer-centric, with big players focusing on
both quality of construction and customer experience, and small and medium players adopting
similar strategies. Consumers now expect an online presence, a seamless customer journey,
digitally visualised properties, remotely monitored property insights, frequent engagement and
an element in the property that can be shown off. To remain competitive, companies must focus
on customer expectations and meet them to be rewarded.

1. Online presence:

Nothing less can be expected from a country with the cheapest internet access and more than
500 million internet users. Now the buyers surf each bit of the information regarding the
property over the internet. Builders with a solid online presence, transparent information
regarding the property and frequent interaction with potential customers, tend to get higher lead
conversion rates as compared to orthodox players.

2. Seamless customer journey:

Consumers are pretty vocal about their experiences and they feel free to write a review about it
on various channels. Even if the builder has a gifted reputation manager and doesn’t care about
its reputation, a simple complaint by the customer in the regulatory authority can get a stay
order on the project. Therefore, builders now understand the new trends and design customer
journey mapping. They make sure the customer gets regular updates regarding the property,
financial transactions are transparent and they get all the amenities that were initially promised.

9
3. Digitally visualizing the property:

Properties which are staged (a real estate jargon meaning a property graphically designed or
animated for better visualization) were sold 6-25% more than un-staged properties. Customers
expect to visualize the property in 3D with better graphics, get some walkthrough videos and if
possible, take a virtual tour. This not only attracts the customers but also increases their
understanding regarding the property. As more and more customers are coming from a
technical background, including these into the marketing kit will definitely increase the
conversion rate.

4. Remotely monitoring property insights:

Post-Covid, many things have become virtual. Even in real estate, consumers want to access
their preferred properties remotely from their place. For this builders now frequently update the
property status over their website and social media channels. Due to high competition, local
markets have become saturated. Therefore, builders now target people staying in other big
cities. To showcase their well-decorated project, methods like walkthrough videos, virtual tours
etc. come in handy.

5. Frequent engagement:

Consumers like to get informed about their dream property. And they appreciate it a lot if the
builder of their dream home interacts frequently with him/her. If their birthdays/anniversaries
are remembered, property status is being shared, personalized interior preferences are asked,
simply, the customers expect frequent care and concern is shown to them.

6. An element in the property that can be shown off

The builder is able to focus on elements such as amenities, interiors, exteriors, security,
location, and common facilities in order to make their project stand out from others. For
example, a Zen Garden, a Japanese style of rock garden, can be the highlight of the project and
can provide the property owners with something to show off to their guests. With such a
feature, the builder's project can be something that people are proud of and can take pride in
showing off.

10
Author: Dr. S. Thirunavukarasu

Assistant professor, department of business administration government arts and

science college, Valparai, India.

Title: Effectiveness of consumer perception on flat purchase intention in Chennai.

Date: 30th Sept 2021

Review:

This study aims to explore the effect of the perception of consumers on the apartment purchase
in Chennai. Literature review indicates that the internal and external factors are considered by
the consumers for the purchase of the apartments. The external factors include the loan
availability, payment details, builder’s brand name, discounts offered etc. The Theory of Buyer
Behaviour Model was used to study the effect of housing features on the intentions of house
purchase. The outcomes showed that features of housing, finance, housing environment,
distance and the superstitious beliefs had a positive relation with the intention of housing
purchase.

The study found that consumer perception had a positive relation with their purchase intention.
The findings of the analysis of the data showed that there was a positive relationship of
consumer perception on their purchase intention of residential property. The outcomes of the
study showed five main elements of the satisfaction of the consumers in the context of real
estate for the purpose of the study. The study concluded that the purchase intention was highly
influenced by the consumer perception. The knowledge and the information regarding the
consumer perception are important for the development of successful strategies of marketing as
such information helps to create and withhold valuable customers and also to build relationship
with the customers. This study will be useful for the scholars to make further studies in this
regard and also for the housing developers to understand the perception of the customers
regarding housing and frame service strategies in housing accordingly. Findings show that the
purchase intention was highly influenced by the consumer perception.

11
Author: HT Estates

Title: Builders must build consumer confidence

Date: 29th Jan 2016

Review:

With increasing awareness among consumers, rise in customer activism and rapid changes in
the level of homebuyers’ expectations, the real estate sector is facing many challenges. Unless
developers get their act together, they may find it increasingly difficult to sell the high levels of
inventory piling up across the country.

In the interviews customers in Mumbai and Bengaluru listed on-time delivery, luxury interiors,
financial strength, track record, premium location and trust, among other factors, as the
attributes that drive their purchase decisions. But when customers rated their perceptions of 17
major real estate developers, fewer than half received a positive Net Promoter Score, a well-
established measure of customer loyalty, says a report by Bain and Company titled Residential
Real Estate in India .

Buying real estate is often the largest, most significant purchase people make in their lifetimes.
Customers have high levels of involvement and investment in their decisions. There is greater
emphasis than ever on word-of-mouth information, including online reviews. Currently, Indian
residential real estate developers do not have a customer mindset. This has resulted in poor
advocacy, with a few customers saying they would recommend a developer’s projects to a
friend or colleague. Customers’ expectations of residential apartments have also changed
rapidly. What was considered top of the line in 2010 is a base expectation in 2015, says the
report.

This trend of fast-changing demands to accelerate over the coming years. Given that many
residential projects take more than five years from conceptualisation to handover, developers
must anticipate what customers will want three to five years in the future and then begin
building that today. There is a major opportunity for developers to tailor their brands to key
purchase criteria, both current and projected. Creating strong product and brand strategies to
match target customer preferences is more important than ever. Delivering key attributes, from

12
pricing and payment to clear communication, requires managing key touchpoints with
customers before, during and after purchase. Developers should also consider segmenting their
customers and building their brands to position themselves for various customer types. Each of
these changes requires developers to transition from a transaction-based approach to a
relationship-based one.

Beyond the short-term demand factors, there is immense potential in residential real estate in
India. Organised Indian real estate demand is estimated at roughly 880 million sq ft. It is
forecast to reach approximately 1.35 billion sq ft by 2020, a 9% annual growth rate. Residential
real estate is responsible for 85% of the demand. This growth is supported by robust underlying
market drivers such as favorable macroeconomic conditions, increasing affordability and
urbanisation, improved access to credit and the gradual shift from unorganised real estate
construction to organised development.

In the future, businesses in the real estate sector will have to do things very differently to be
successful. Builders will have to keep three things in mind. Firstly, they will have to decide on
the markets they want to play in, both geographically as well as market segment-wise.
Secondly, the builder needs to choose his business model and then get the right processes in
place to deliver on that choice and the third most important factor is to keep the customer in
mind.

13
Author: Anuj Puri ANAROCK

Title: Indian Residential Real Estate Consumer Sentiment Survey

Date: Jan 2019

Review:

In the last five years of Narendra Modi government has seen a paradigm shift in Indian real
estate, with policy overhauls, infrastructure development, 100 Smart Cities and Housing for All
by 2022 initiatives. Although new supply and housing sales declined, the demand for affordable
housing remained strong. A survey by ANAROCK's Real Estate Consumer Outlook revealed
that 48% of buyers would not buy a property from the same developer, while long-term
investors saw potential in the sector. Attractive prices lured 50% buyers to purchase properties
in 2018, with 70% preferring properties priced within INR 80 lakh. Tier 2 and 3 cities have
emerged as new hotspots for majority investors.

For Indians, Tier 2 and 3 cities such as Bangalore, Pune, Mumbai-MMR, Hyderabad, Delhi-
NCR, Chennai, and Kolkata have emerged as the new hotspots for majority investors. For
NRIs, the top cities preferred for investments are Bangalore, Pune, Mumbai-MMR, Hyderabad,
Delhi-NCR, Chennai and Kolkata.

Following increased buyer demand, builders have consciously launched projects in categories
that buyers prefer, particularly in the affordable and mid segments (within INR 80 lakh) where
77% of the new supply was found. Moreover, with the government's push for affordable
housing, there has been a significant increase in activity in this segment. Respondents in Tier 2
and 3 cities, Kolkata, and Chennai continued to prefer homes within the affordable budget
range. However, those in Bangalore, Delhi-NCR, and Pune showed more interest in mid-
segment properties. In Mumbai-MMR, 64% of respondents prefer to invest in properties above
INR 80 lakh budget range, and 13% targeted the ultra-luxury segment.

14
Author: Sandeep Das, MBA from IIM Bangalore

Title: The lure of residential real estate through the lens of consumer psychology and societal
behavior.

Date: 31st Aug 2020

Review:

The residential real estate asset class has been one of the most reliable and resilient asset classes
during the Covid-19 pandemic and was recently voted as the most preferred asset class. This is
despite the fact that it has faced numerous headwinds over the past decade. However, there are
indications that the residential real estate class is set to enter a golden period of growth over the
next five years.

This is due to a changing consumer psyche which is now moving towards safety, risk-aversion
and conservatism. This is expected to lead to a rise in demand for residential real estate in both
metro and tier 2 cities, across both affordable and luxury housing segments. In order to ensure
the success of the asset class, the ecosystem needs to ensure timely delivery, regulatory
compliance, affordability and easy financing.

15
 Chapter II

PROFILE OF THE ORGANISATION

 Chapter II

PROFILE OF THE ORGANIZATION

Fig. 2.1 Company Logo

2.1 Company Profile

2.1.1 Name of company - Vilas Javdekar Developers.

2.1.2 Founder and Chairman – Mr. Vilas Javdekar

2.1.3 Technical Director- Mr. Sarvesh Javdekar

2.1.4 CEO - Mr. Aditya Javdekar

2.1.5 Total Employees – 833

2.1.6 Current Status - Active

2.1.7 Headquarters and Other offices

Head Office –

306, Siddharth Towers, Sangam Press Road, Kothrud, Pune 411 038

Branch office –

Centro Mall, 5th Floor, Next to Palash Plus Apartments, Opposite Euro School,

2.1.8 Email: enquiry@javdekars.com

2.1.9 Website - https://javdekars.com/vj-parivaar.html.

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2.2 Company History

Vilas Javdekar Developers, established in 1981, is an esteemed builders and developers

company in Pune. It has won 25 national awards and has been awarded an IGBC platinum
rating. With a labor force of 2200, they have 34 projects under construction and 833 employees.
They are committed to providing quality housing and commercial spaces that are both
aesthetically pleasing and designed to last. Their projects have been well received due to their
attention to detail, quality construction, and timely delivery. They continue to expand and make
a name for themselves in the industry.

The company has also been recognized by many industry organizations for its exemplary work.
Some of the awards won by Vilas Javdekar Developers include:

1. Architectural Design of the Year Residential by Realty Plus in 2019 for YASHWIN Encore
Wakad.

2. Affordable Housing Project of the Year by Realty Plus in 2018 for YASHONE Pirangut.

3. Mid-Segment Project (West) of the Year by Realty Plus in 2017 for YASHWIN Hinjawadi.

4. Scrolls of Honour Lifetime Achievement Award in 2016 for PORTIA Baner and Vilas
Javdekar.

5. Most Promising Project Award in 2015 for YASHWIN Baner .

6. Young Achiever of the Year Award in 2015 for Aditya Javdekar

7. Emerging Developer of the Year 2015 for VILAS Javdekar Developers

8. Smart Home Award in 2015 for PORTIA Baner.

17
2.3 Vision & Mission

Vision:

"To meet up the market gap in Pune & increase Market share"

Mission:

"To provide homes to everyone in the area within Pune by means on innovating ways and
means for better performance of men & machinery. Creating projects based on latest market
trends with respect to the targeted segments. Ensuring timely delivery of projects. Achieving
scalability in order to provide more Dream homes."

2.4 Company Objective

Vilas Javdekar Developers is guided by a philosophy of loving what they do, and this passion is
visible in the work they undertake and the respect they earn. Trust and design are the company's
core values, and they have won several prestigious awards due to the efforts and passion of the
entire team.

Their vision for the future is to build more goodwill and create even more happy communities.
Planning is the most important stage of any project, and the team takes effort to plan everything
from design to materials and even the possession date. They have maintained a track record of
always delivering projects on time, and they give their customers a 'Possession Guarantee,'
sticking to their word.

They strive to think of innovative and futuristic methods in architecture, interior space
utilization, and materials used. Their passion for work has earned them many awards for their
projects and the company, and their biggest achievement is seeing the smiles of their customers
when they handover possession of their home on time. Through their undying love for what
they do, they have maintained the highest design standards while staying true to their promises.

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2.5 Products and services

1. Design and Construction: Builders and developers provide design and construction services
for residential, commercial, and industrial projects. This includes planning and designing the
project, obtaining necessary permits and licenses, and overseeing the entire construction
process from start to finish.

2. Financing: Builders and developers are often involved in securing financing for projects,
such as through loans or investments. They can also provide advice on the best financing
options for a particular project.

3. Property Management: Builders and developers may also provide property management
services, such as handling tenant relations, collecting rent, and resolving any disputes that may
arise.

4. Marketing: Builders and developers are also responsible for marketing their projects to
potential buyers and investors. This includes creating promotional materials, networking with
potential buyers and investors, and assisting in the negotiation process.

5. Maintenance and Repair: Once a project is completed, builders and developers may
provide ongoing maintenance and repair services to ensure the project remains in good
condition. This includes fixing any issues that may arise and responding to any tenant requests
or complaints.

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2.5.1 Product Type

2.5.1.1 Residential Properties

Residential property includes single-family homes, multi-family homes, condominiums, and

townhouses. Residential properties are typically used as a primary residence by the owner,
although they may also be used as a vacation home or rental income property.

 Yashone (1 and 2 BHK first home)

 Yashwin (2 and 3 BHK)
 Palladio (3,4 BHK)
 Portia (Pent houses, Luxury and Ultra luxury houses)

2.5.1.2Commercial Properties

Commercial properties, on the other hand, are typically used for business purposes. These
properties include office buildings, industrial sites, retail stores, and other commercial
structures. Commercial real estate is usually owned by businesses or investors, and is
intended to generate income.

2.5.2 Previous Projects

 YASHWIN ENCORE WAKAD

 YASHONE PIRANGUT
 YASHWIN HINJAWADI
 PORTIA BANER

20
2.5.3 Ongoing Projects

Yashwin Enchante (Upper Kharadi) YashOne Eternitee (Maan Hinjawadi)

Yashwin NuovoCentro (Wakad) VJ Indilife (Pashaan)

Yashwin Supernova (Wakad) YashOne Infinitee (Tathwade- Punawale)

21
Yashwin Orizzonte (Kharadi) Yashwin Sukhniwas (Maan Hinjawadi)

YashOne Wakad Central (Wakad) YashOne Hinjawadi (Hinjawadi Phase 1)

Yashwin Encore (Wakad) Palladio (Tathawade)

Fig. - 2.2 Ongoing project by VJ Developers images

22
2.5.3 Services

 VJ First

VJ first members can avail exclusive discounts, offers and benefits from their partner
brands and retailers. They can also get gift vouchers and receive special invitations to
events like product launches and exhibitions. They also get the opportunity to book
priority appointments and get access to special promotions. Members can also enjoy
various loyalty benefits such as loyalty points, rewards and cash backs for every
purchase.

 RSVP (Rent and sell verified properties)

RSVP helps the owners to find tenants for their commercial and residential properties.
The service provides a comprehensive list of potential tenants and helps the owners to
match their requirements. Through the service, the owners can also track the rental
payments and review the rental agreement. In addition, the owners can also list their
properties on the RSVP platform and get access to insights to help them in making
informed decisions.

 H2H (House to Home)

H2H is a service that allows home buyers to customize their new home during the
construction period. The service provides a voucher worth Rs. 50000 to the buyers,
which they can use to make changes or additions to their homes, like changing the
flooring, adding cabinets, or painting the walls. The voucher can be used for any kind of
customization and the changes can be done through Vilas Javdekar Developers. The
buyers also get access to a dedicated customer service team, who will help them in the
customization process.

23
2.6 Unique Selling Points

 Timely Possessions
 Post Possession Services
 Community Building Events
 Society Formation
 E-registrations
 Third Party Services.

2.7 Industry Insight

Real estate in India is a booming sector and is one of the biggest forms of investments in
the country. The Indian real estate market is driven by factors such as the growing
population, increasing urbanization, economic growth, and improved infrastructure.

The market is divided into two main segments: residential and commercial. Residential
properties include apartments, villas, and houses, while commercial properties include
office spaces, retail outlets, and hotels.

The Indian real estate market is largely driven by residential investments. The demand for
residential properties is driven by factors such as the increasing population, rising incomes,
and improved infrastructure.

The commercial real estate market in India is also growing, driven by the growth of the IT
and manufacturing industries. Businesses are increasingly looking for office spaces, retail
outlets, and hotels in major cities such as Mumbai, Delhi, and Bangalore.

Overall, the Indian real estate market is poised for significant growth in the coming years.
The government has taken steps such as introducing the Real Estate Investment Trusts
(REITs) to boost investments in the sector. This is likely to further fuel the growth of the
real estate sector in India.

24
2.8 SWOT Analysis

Fig. 2.3 SWOT Analysis

Strength:

 The organization is very old, establish in the year 1981 and the name is a brand in itself.
 Vilas Javdekar Developers is one of the leading construction firms in Pune.
 Highly profiled marketing team, technical staff and engineers.
 Huge client base Serves both as well as effluent class of customer.
 Looks after both Residential as well as commercial projects.
 Provides 100% customization to its customer.
 Maintaining proper data base of customers follow-ups through CRM technique.
 A positive image in the existing customers.

Weakness:

 Training of the team needs to be more efficient.

 Product offers to customers are priced high, due to which every one cannot afford it.
 Company it limited to Pune city only it should target market to other big cities.
 After sales service should be properly made aware to the customers.
 Few regulations for the resale market its absence would mean lack of trust within
investor.
 Lack of government incentives to the buyers who are paying all the amount through
banking channels.

25
Opportunities:

 Rapid growth in Pune

 Diversification in the project like Residential and commercial project like shopping
malls, flats, row houses, Independent bungalows.
 Tie up with the international property consultants.
 Government agencies such as the authority, environment ministry and various other
approving agencies can come together to bring uniformity, transparency and feasibility.
 Bringing efficient technologies and mechanisms to speed up the building process. This
can reduce the delay in construction of various projects.

Threats:

 Increasing competition in the market and arrival of the new competitors in the region.
 Skills shortage: As now, the industry faces the biggest challenge is shortage of skilled
professionals
 Top level competitors like Kolte-patil Developers Ltd. Goel Ganga Developers. ABIL
Group, Kumar Builders and many more. Unavailability of the barren for development
purpose, as there are many players in this market.
 Government policies may pose challenges for growth of real estate market .

26
 Chapter III

RESEARCH METHODOLOGY
 Chapter III

RESEARCH METHODOLOGY

3.1 What is Research?

Research is an art of scientific investigation. It is defined as "A careful investigation or enquiry

especially through search for new facts in any branch of knowledge."

Research methodology is considered as the nerve of the field work or any project. Without
proper well organized research plan, it is impossible to complete the project and reach to any
conclusion. The project was based on the survey plan. The main objective of survey was to
collect appropriate data, which work as a box for drawing conclusion and getting result.

Therefore, research methodology is the way to systematically solve the research problem.
Research methodology not only talks of the methods but also logic behind the methods used in
the context of a research study and it explains why a particular method has been used in the
preference of the other methods.

3.1.1 Definition of Research

"Marketing research is a systematic problem analysis, model building and fact-finding for the
purpose of important decision making and control in the marketing of goods and services."

- Dr. Phillip Kotler.

Eight characteristics of research:

1. Research originates with a question or a problem.

2. Research requires a clear articulation of a goal.
3. Research follows a specific plan of procedure.
4. Research usually divides the principle problem into more manageable sub problems.
5. Research is guided by the specific research problem, question or hypothesis.

27
 6. Research accepts certain critical assumption. These assumptions are underlying theories
or ideas about how the world works.
7. Research requires the collection and interpretation of data in attempting to resolve the
problem that initiated the research.
8. Research is, by its nature, cyclical: or more exactly, spiral or helical.

3.1.2 Types of Research

 Descriptive research -
Descriptive research is used to describe the characteristics of a population or
phenomenon. It is often used to understand the characteristics of a population or to
compare different groups.
 Analytical research -
Analytical research focuses on analyzing data to answer questions or to test hypotheses.
Applied research is used to solve practical problems. It involves the application of
scientific knowledge to solve a specific problem.
 Fundamental research –
Fundamental research is more theoretical and aims to expand knowledge about a
phenomenon or population.
 Quantitative research –
Quantitative research uses numerical data to understand the population of interest. It
involves collecting data through surveys, experiments, and other structured methods.
 Qualitative research –
Qualitative research focuses on understanding people's attitudes, behaviors, and beliefs.
It involves collecting data through interviews, focus groups, and other unstructured
methods.
 Conceptual research –
Conceptual research involves developing theories or concepts to explain phenomena. It
focuses on understanding the underlying principles of a phenomenon or population.

28
  Empirical research –
Empirical research involves gathering data to test theories or hypotheses. It is used to
test the validity of a concept or to measure the effects of an intervention.

3.1.3 Types of Research Methods

 Observational research: This type of research involves observing people or objects in

their natural environment. It can be observational experiments or simply watching
people or animals in their natural environment.
 Survey research: This type of research uses surveys to collect data from a large sample
of people. The data can be used to understand the population of interest.
 Experimental research: This type of research involves manipulating variables and
measuring the results. It is used to test hypotheses and understands cause-and-effect
relationships.
 Secondary research: This type of research involves gathering data that already exists.
It can be used to understand a population or to compare different groups.

3.1.4 Type of research method used in the report:

Descriptive research is used in this project. Descriptive research describes the characteristics of
a population or phenomenon. It is often used to understand the characteristics of a population or
to compare different groups.

29
3.2 Data Collection Method

Secondary Data
DATA
Primary Data

Fig. 3.1 Data Collection Methods

Primary Data:

Primary data is the which is collected first hand specially for the purpose of study. It is
collected for addressing the problem at hand. Thus, primary data is original data collected by
research first hand.

Secondary Data:

Secondary data is the data that have been already collected by and readily from other sources.
Such data are cheaper and more quickly obtainable than the primary data and also may be
available when primary data cannot be obtained at all.

Method of data collection used in the report:

This project study is conducted collecting the primary data through survey research method.

3.3 Sample

The sample is a subset of individuals selected from a larger population to represent the entire
group. It is used in research to obtain data and make inferences about the larger population. The
selection of the sample must be made carefully to ensure that it is representative of the
population and that the results are valid.

30
3.3.1 Sampling

Sampling is an important component of any research study as it helps researchers to accurately

analyze and interpret the data they collect. The selection of a sample is based on the researcher's
objectives and the research question. The sample size should be large enough to ensure
accuracy and reliability of the results.

3.3.2 Types of Sampling

• Simple Random Sampling: A simple random sample is one in which each member of the
population has an equal chance of being selected.

• Stratified Sampling: Stratified sampling is a method of sampling in which the population is

divided into subgroups and a sample is taken from each stratum.

• Systematic Sampling: Systematic sampling is a method of sampling in which a sample is

taken at regular intervals from the population.

• Cluster Sampling: Cluster sampling is a method of sampling in which the population is

divided into clusters and a sample is taken from each cluster.

3.3.3 Sampling Plan

Sampling Plan is a process of obtaining. The information is about the entire population
examining a part of it. The effectiveness of the research depends on the sample size selected for
the survey purpose.

31
3.3.3.1 Population: -
The survey was conducted in Pune city exclusively in VJ projects.

3.3.3.2 Sampling Unit:-

It means who is to be surveyed. Here target population is decided and it is who have
purchased residential property. Sampling frame is developed so that everyone
in the target population has known chance of being sampled. So the survey is conducted in
VJ projects in Pune city, Maharashtra.

3.3.3.3 Sample Size:

The sample size is 112 respondents

1. Sample Element: - The sample element of research is customer of VJ.

2. Sample Extent: - The sample extent is limited to Pune city.
3. Sampling Duration: - The sample duration is 60 days.
4. Sampling Method: - Simple Random sampling

Sampling helps in making judgment about the entire population just by examining the part
of the population. A part of the population which is studied for making judgment about the
entire population is called sampling.

32
 Chapter IV

DATA ANALYSIS AND INTERPRETATIONS

 Chapter IV

DATA ANALYSIS AND INTERPRETATIONS

4.1 How many properties do you own in Pune?

Properties owned Number of people

0 12
1 60
2 37
3 2

Table – 4.1 Properties owned by customers

Graph – 4.1 Properties owned by customers

Interpretation:-

People are interested in buying a residential property and invest money in this city. Most of the
respondents own 1 property in Pune, are willing to buy other residential property. This may be
due to their requirement or due to the availability of job and educational opportunities.

33
4.2 Do you own the property you reside in?

Properties owned Number of people

Owner 88
Rent 24

Table- 4.2 Ownership of the property of the respondents.

Graph- 4.2 Ownership of the property of the respondents.

Interpretation:-

Most of the respondents are actual owners of the property and a few were staying on rent 21%
they might be living in rental properties due to accessibility of the project. The majority of the
respondents are not looking to move away from the city.

34
4.3 What type of apartment do you live in?

Type of property Number of people

1 16
2 48
3 33
Other 15

Table - 4.3 Types of apartment people reside in

Graph- 4.3 Types of apartment people reside in

Interpretation:-

2BHK owners are in abundance as it is one of the most affordable as well as comfortable spaces
for accommodation, while very few are residing in spaces other than 1 BHK or others as there
is very few people of the society live in micro apartments or SURE properties. Such as the
Indilife of VJ. But in Future, these types of accommodations may be more sought by bachelors.

35
4.4 What were your carpet area expectations for your house?

Area in Sq. ft. Number of People

500 Sq.ft. 20
600-800 Sq.ft. 52
800-1000 Sq.ft. 30
More than 1000 Sq.ft. 10

Table - 4.4 Expectation of carpet area provided

Graph - 4.4 Expectation of carpet area provided

Interpretation:-

The abundance of properties in the range of 600 to 1000 sq ft shows that these are the most
affordable properties in the city and people are willing to accommodate themselves in small
spaces on more prime areas of the city to meet their location needs as it is more accessible from
all perspectives.

36
4.5 How is the construction quality of your house?

Satisfaction level Number of people

Best 0
Good 61
Satisfactory 48
Bad 3

Table - 4.5 Construction quality of the house

Best

Graph - 4.5 Construction quality of the house

Interpretation:-

Most of the respondents are satisfied with the quality of construction by VJ developers and
around 43% think that construction quality is good. None of the respondents think that
construction quality is the best, suggesting it can be improved upon.

37
4.6 Is the carpet area and quality of construction according to your expectations aboutVJ?

Response Number of people

Yes 101
No 11

Table - 4.6 Expectations of carpet area and quality

Graph - 4.6 Expectations of carpet area and quality

Interpretation:-

Most of the respondents are satisfied as the carpet area and construction quality of their house
meets their expectations. The average carpet area of apartments in projects is between 600 and
1000 square feet. This small area can be used to accommodate the basic necessities of a person.
Despite its small size, it can be used effectively to make the most of the available space. This is
sufficient space for most of the respondents.

38
4.7 Rate your experience with VJ with respect to your expectations?

Responses Number of people

1 Star 2
2 Star 9
3 Star 24
4 Star 35
5 Star 42

Table - 4.7 Rating experience with VJ

Graph - 4.7 Rating experience with VJ

Interpretation:-

The average rating for services provided by VJ is 4.04 stars. This is a great rating and shows
that the majority of people are satisfied with VJ services. Customers have likely found that the
services provided are of good quality and have provided them with the necessary solutions to
their needs.

39
4.8 Was your home delivered to you on time?

Response Number of people

Yes 98
No 14

Table - 4.8 Timely possession of the property

Graph - 4.8 Timely possession of the property

Interpretation:-

The results of this survey are encouraging, as it appears that 98 out of 112 people were given
possession of their homes on time. This is a very positive result as it demonstrates that the
majority of customers are satisfied with the delivery time of their homes. The delivery time of a
home is an important aspect in the decision-making process of buying a new house.

40
4.9 Do you find VJ as a trustworthy brand?

Response Number of people

Yes 100
No 12

Table - 4.9 Trustworthiness of VJ as a brand

Graph - 4.9 Trustworthiness of VJ as a brand

Interpretation:-

The results of this survey are also very positive, as it appears that most of the respondents of the
survey feel that VJ is a trustworthy brand. It is reassuring to know that the majority of
customers feel that VJ is a trustworthy brand, as this gives potential buyers a greater sense of
security when purchasing from them.

41
4.10 What factors influence your decision to buy a particular property?

Response Number of people

Location 31
Affordability 24
Accessibility 37
Amenity 20

Table - 4.10 Factors influencing buying decision

Graph - 4.10 Factors influencing buying decision

Interpretation:-

The leading factors that influence the decision of buying a residential property in this city are
accessibility (33.3%) followed by location (27.5%), price (21.6%), and amenities (17.6%).

The main reasons for buying a residential property in this city are for investment purposes,
followed by occupation, for living purpose. The other reasons are for rental income, for capital
appreciation, and for other purposes.

42
4.11 What parameters do you take into consideration while selecting any residential
property?

Response Number of people

Brand 24
Quality 18
Area 13
Facilities 26
Schemes 3
Services 22
Timely Possessions 5

Table-4.11 Parameters considered for purchasing property

Graph -4.11 Parameters considered for purchasing property

Interpretation:-

People have different opinions on the parameters considered for buying property, quality is an
important factor to consider when buying a residential property. People look for a property that
is well constructed and well maintained, with good quality materials and finishes. Amenities are
also taken into account some residential properties come with additional amenities such as a
swimming pool, gym, or clubhouse. Other considerations include the safety and security of the
area, access to public transportation, local schools, and other amenities, and the overall layout
of the property.

43
4.12 Which amenity is considered most expected while buying a house?

Amenities Offered People in Percentage

Clubhouse 29.4%
Devotional Places 13.7%
Swimming Pool 17.6%
Sports Court or Parks 15.7%
Gymnasium 13.7%
Decomposition Unit 9.8%

Table - 4.12 Amenities considered while selecting property

Graph - 4.12 Amenities considered while selecting property

Interpretation:-

Respondents also consider amenities very important while investing and buying house. Variety
of amenities such as clubhouse, swimming pool, gym, play area, jogging track, library,
devotional place, and a multipurpose hall. It may include a convenience store, daycare centre,
yoga studio, meditation centre, and pet park. These amenities provide convenience and
entertainment for the residents, making their stay more enjoyable.

44
4.13 Are you satisfied with the amenities provided by VJ?

Response Number of people

Satisfied 79
Not Satisfied 26
Neutral 7

Table - 4.13 Satisfaction level of customers

Graph - 4.13 Satisfaction level of customers

Interpretation:-

Most of the respondents are satisfied with the amenities provided. In a survey conducted by a
research, over 70% of the respondents said that they were satisfied with the amenities provided
by their developer. This indicates that some of the respondents would rather prefer different
amenities.

45
4.14 Is parking space provided according to your expectations and information provided by VJ
before buying the property?

Response Number of people

Yes 103
No 9

Table - 4.14 Parking spaces provided

Graph - 4.14 Parking spaces provided

Interpretation:-

Resident want reserved parking for residential society. Most of the customer’s expectations
were met for parking spaces. So as to avoid overcrowding in the parking area and ensure safety.
In residential societies, this is done to make sure that residents have a dedicated parking spot for
their vehicles

46
4.15 Are you aware of the services provided by VJ?

Response Number of people

Yes 110
No 2

Table- 4.15 Services provided by VJ

Graph- 4.15 Services provided by VJ

Interpretation:-

Almost all of the residents are aware of the services provided by the VJ developers. They also
use word of mouth and referrals to promote their services. VJ Developers also conduct events
and meetings to inform residents about their services. In addition they also have websites that
provide information about the services they offer.

47
4.16 Which is the most expected service provided by VJ?

Services Provided Number of people

RSVP 29
H2H 40
SURE 20
VJ First 21

Table - 4.16 Expected service provided by VJ

Graph - 4.16 Expected service provided by VJ

Interpretation:-

Services such as SURE, RSVP and VJ First were used by customers for their convenience more
such services should be provided by developers to make the customer experience more
convenient.

Other builders and developers should also try to make such services or after sales services to
their customers to increase retention.

Amenities’ and services play a major role in decision making to buy a home in a city where
there are many options available.

48
4.17 How would you rate the E-registration service provided by VJ?

E-registration service Number of people

Helpful 110
Not Helpful 0

Table - 4.17 E-registration services provided by VJ

Graph - 4.17 E-registration services provided by VJ

Interpretation:-

Almost all the people residing in VJ Developers projects are aware about the E-Registration
policy of VJ in which they help their customers in registration of their homes.

The E-registration service is a convenient way for people to register for houses. It is a fast,
secure, and easy way to register online. It eliminates the need to fill out paperwork and submit
it in person. It also eliminates the need to wait in line.

This shows that VJ is trying to provide convenience for their home buyers and they were able to
spread this services awareness very effectively.

49
4.18 Are the community building activities organized by VJ meet your expectations of
after sales services?

Community Building activities Number of people

Yes 105
No 7

Table - 4.18 Participation in activities

Graph - 4.18 Participation in activities

Interpretation:-

People participate in community building activities. It help create a better sense of

connectedness and to give back to the community. Examples of community building activities
include volunteering for a local charity, organizing neighborhood clean-up days, helping to
build or repair homes, organizing neighborhood watch programs, holding local games and
events, and taking part in mentoring programs. Participating in these activities can help people
to form closer relationships with their neighbors, build a stronger sense of community, and
make a positive impact in the lives of others.

50
4.19 Would you recommend VJ Developers to other property buyers?

Recommendation Number of people

Yes 99
No 13

Table - 4.19 Recommending VJ to property buyers

Graph - 4.19 Recommending VJ to property buyers

Interpretation:-

88.2% of people are happy with the overall services and facilities provided by VJ developers
and are willing to refer it to others.

51
 Chapter V

FINDINGS AND SUGGESTIONS

 Chapter V
FINDINGS AND SUGGESIONS

5.1 Findings:-

 People are interested in buying and investing in residential properties in Pune.

 People who are residing in rental properties at VJ projects are willing to purchase
properties with them due to accessibility of their projects.
 From this research it was found that 70% of the people reside mostly in 2 and 3bhk flats.
While expected carpet area is around 600 to 1000 sq ft. whereas most of the respondents
think construction quality must be improved.
 43% of respondents feel the build quality & construction quality is good and
satisfactory, while there are no respondents claiming VJ construction quality to be the
best which makes room for further improvements by VJ.
 The main reasons for buying a residential property in Pune city are for investment
purposes (35%), followed by location of the project (23%), and for living purpose
(22%). The other reasons are for rental income (15%), for capital appreciation (4%), and
for other purposes (1%).
 The leading factors that influence the decision of buying a residential property in this
city are location (35%), followed by price (20%), quality of construction (17%),
amenities (15%), and brand reputation (13%).
 80-90% of the clients are demanding premises for more amenities which are not
available by any other projects ongoing.
 Satisfaction of customers was high as 70% people are satisfied with overall quality and
carpet area as well as the parking spaces provided.
 VJ was able to effectively spread awareness about their services to existing customers.
All the residents of VJ felt their E-registration service useful.
 94% of respondents are happy with VJ after sales service and their involvement in
community building. 88% of customers would like to recommend VJ to property
buyers.

52
5.2 Suggestions:-

 VJ should try to approach people residing on rent in their projects to buy properties with
them.
 As per the survey, the builder should decrease the no. of flats of 4bhk and 1bhk because
3bhk and 2bhk are more in demand. VJ should also try to improve its build quality.
 VJ should try to increase amenities such as sports courts with a view to increase the
property values and there by attracting the middle class and upper middle class.
 VJ should also concentrate more on increasing interior space and space in kitchens to
compete with other competitors.
 They should enhance their services like VJ First and H2H, while trying to add more
such services to add value to their product.
 Services such as SURE, RSVP and VJ First have to be improved to reach most of VJ
residents.
 VJ should try to tap other market potentials, such as Kolhapur, Nagpur, Surat,
Ahmadabad and 2nd tier cities.
 They should actively participate and organize property exhibition, trade shows,
hoardings, etc. to create awareness in the market.
 Developers should organize annual customer meet to appreciate those customer who
have been with them. Amenities and specification to be finalized as per survey.
 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.

53
 Chapter VI

CONCLUSION
 Chapter VI

CONCLUSION

There is a high demand for residential properties in big cities like Pune that may be due to high
job opportunities and presence of IT hubs. People are willing to pay price and expect good
quality residence and allied facilities from the builder. Being it home owner or people residing
on rent planning to invest in residential properties in future. It has been observed that most of
the crowd is living in the area like Hinjewadi and Kharadi. Unfurnished and Semi-furnished
types of flats are being preferred with 600 to 1000 sq.fts area.

People expects more amenities and services when it comes to buying a place to live like halls,
parking, access to public transportation, and nearby shopping and dining options are crucial for
buying decisions. Customers expect customization services from their developers to make
changes according to their needs and that is one of the good options for the developers for to
fulfill such demand and increase their own market. Decomposing units that helps reduce the
number of greenhouse gases that are released into the atmosphere are appreciated. Developers
like VJ needs to work more on their space management to satisfy their customers and meet the
quality standards.

The study indicates that every customer has different needs and expectations while buying
residential property but their need converge as similar expectations which include better space
management & location etc. and developers must meet those expectations to survive in real
estate industry.

54
BIBLIOGRAPHY
 BIBLIOGRAPHY

A) Reference book:
1. Kothari C.R.- “Research Methodology” Tata McGraw Hill In (95-102)
2. Kotler Phillip –“Marketing management “analysis, planning implementation
and control.
3. Schiffman Leon G.& Kanuk Leslie Lazar, "Consumer Behavior", Prentice Hall
of India “6th edition
4. Singh Harpreet–“Research Methodology”-Kalyani Publishers.(page no. 1-8,
68-102)

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 ocu.com/in/document/sri-balaji-university-pune/introduction-
microeconomics/consumer-perception-towards/26312761
 https://www.granthaalayahpublication.org/journals/index.php/granthaalayah/articl
e/view/4151/4373
ANNEXURE
 ANNEXURE

Questionnaire
(NOTE-All the information taken from you is only used for research purpose)

TOPIC-Understanding the Consumer’s Expectations while buying a House

1. Name

____________________

2. Mobile No.

_____________________

3. E-Mail

_____________________

4. How many properties do you own in Pune?

A.0
B.1
C.2
D.3

5. Do you own the property you reside in?

A. Owner
B. Tenant
6. What type of apartment do you live in?

A. 1BHK
B. 2BHK
C. 3BHK
D. Others

7. What were your carpet area expectations for your house?

A. 500 sq ft
B. 600-800 sq ft
C. 800-1000 sq ft
D. More than 1000 sq ft

8. How is the construction quality of your house?

A. Best
B. Good

C. Satisfactory
D. Bad

9. Is the carpet area and quality of construction according to your expectation about VJ?

A. Yes
B. No
10. How was your experience with VJ?

A. 1
B. 2
C. 3
D.4
E. 5

11. Was your home delivered to you on time?

A. Yes
B. No

12. Do you find VJ as a trustworthy brand?

A. Yes
B. No

13. What factors influence your decision to buy a particular property?

A .Location
B. Affordability
C. Accessibility
D. Amenities
14. What parameters do you take into consideration while selecting any residential property?

A. Brand
B. Quality
C. Area
D. Facilities
E. Schemes

F. Services
G. Timely Possessions

15. Which amenity is considered most expected while buying a house?

A. Clubhouse

B. Devotional Place
C. Swimming Pool
D. Sports Court or Parks
E. Gymnasium
F. Decomposing unit

16. Are you satisfied with the amenities provided by VJ?

A. Satisfied
B. Not Satisfied
C. Neutral

17. Is parking space provided according to your expectations and information provided by VJ
before buying the property?

A. Yes
B. No
18. Are you aware of the services provided by VJ?

A. Yes
B. No

19. Which is the most expected service provided by VJ?

A. RSVP
B. H2H
C. SURE
D. VJ First

20. How would you rate the E-registration service provided by VJ?

A. Helpful
B. Not Helpful

21. Are the community building activities organised by VJ meet your expectations of after
sale service?

A. Yes
B. No

22. Would you recommend VJ Developers to other property buyers?

A. Yes
B. No