RESEARCH PROJECT REPORT

ON
“A Study On Clients Awareness With Regards To Property Pistol Ltd. In

Gurgaon”

In partial Fulfillment of the requirement

Masters of Business Administration
Of
Dr.APJ ABDUL KALAM TECHNICAL UNIVERSITY, LUCKNOW

Under the Guidance of Submitted By

Dr. Atul Narang JAGAN VERMA
(Research Guide ) Roll No. 1900010700037
MBA Department MBA IV Sem
BATCH-2021-2023

ANAND ENGINEERING COLLEGE

(Affiliated to Dr. A.P.J. Abdul Kalam Technical University Lucknow )

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 DECLARATION

I hereby declare that the project report entitled “A Study On Clients Awareness With
Regards To Property Pistol Ltd. In Gurgaon ”
is an original and authentic work done by me and is based upon the study conducted by
me.
This project report was undertaken as a part of the M.B.A. Programmer of Dr. A.P.J. Abdul
Kalam Technical University Lucknow.

JAGAN VERMA
MBA IVth Sem

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 ACKNOWLEDGEMENT

The project of this magnitude would not have been completed singly. Firstly I want to give
my hearty thanks to all mighty who made the world and me also.

There are many other people without whom the completion of the project would not have
been possible.

It gives me immense pleasure to thank and I would like to express my gratitude to Dr. Atul
Narang , of Faculty Guide whose direction, assistance, and guidance have been invaluable
for the project. I wish to thank Atul Company Staff staff for their constant support. my
H.O.D.. Sir my project guide, who provided his recommendations and suggestions to
complete my project successfully.

I particularly like to extend my thanks to my seniors and my friends who supported me

during the project.

JAGAN VERMA
MBA IVth Sem

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 INDEX

Chapter Sr. No Particulars Pg. No

I TABLE OF CONTENT 6
II ANNEXURE 7

1 Introduction of Industry & Company 8

1.1 About 9
1.2 Overview of Real Estate Industry 12
1.3 Michael Porter Analysis 28
1.4 Introduction of Company 31
1.5 Detail About Company 33
1.6 Overview of different Business Segment of 36
Company/Industry
1.7 SWOT 45

2 Literature review 59

Research Methodology 69
3.1 Research objective 70
3 3.2 Hypotheses 70
3.3 Research Design 70
3.4 Data collection plan/Sample plan 71
3.5 Statistical tools used for data analysis 71

4 Data Analysis 72
Findings/Learning 93
Conclusion 94
Suggestion/Recommendation/Future Plans 95
5 Bibliography/References 96
6 Questionnaire 100
Plagiarism Report 106

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ANNEXURE

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 CHAPTER – 1
INTRODUCTION

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1.1 About

Real property is defined as land and any permanent structures, such as a house, or
improvements attached to the land, whether natural or man-made. It differs from personal
property that is not permanently attached to land, such as vehicles, boats, jewelry, furniture, and
farm equipment. Real estate is real property that consists of land and improvements that include
buildings, fixtures, roads, structures and utilities. Property rights give title to land,
improvements, and natural resources such as minerals, plants, animals, water, etc.

The real estate sector is one of the most recognized sectors worldwide. It consists of four sub-
sectors – housing, retail, hospitality and trade. The growth of this sector is well complemented
by the growth of the business environment and demand for office space as well as urban and
semi-urban accommodation. The construction industry ranks third among the 14 main industries
in terms of direct, indirect and induced effects in all sectors of the economy.

In India, the real estate sector is the second largest source of employment after the agricultural
sector. The sector is also expected to bring in more Non-Resident Indian (NRI) investment, both
in the short and long term. Bengaluru is expected to be the most popular real estate investment
destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi and Dehradun.

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What is real estate?

Real property is the land together with all permanent improvements attached to the land,
whether natural or artificial - including water, trees, minerals, buildings, houses, fences
and bridges. Real estate is a form of real estate. It differs from personal property, which
are things not permanently attached to the property, such as vehicles, boats, jewelry,
furniture, and farm equipment.

Real estate should not be confused with personal property, which includes all property
that does not meet the definition of real estate. The primary characteristic of personal
property is that it is movable.

Keywords:
• Real estate is a class of "property" that includes land and anything permanently
attached to it, whether natural or man-made.

• There are five main categories of real estate: residential, commercial, industrial, raw
land and special use.

• You can invest in real estate directly by buying a home, rental property, or other real
estate, or indirectly through a real estate investment trust (REIT).

Understanding Real Estate:

People often use the terms land, real estate and real estate interchangeably, but there are
also some other things-

• Earth refers to the Earth's surface down to the center of the Earth and up into the air
space above, including trees, minerals and water.

• Real estate is land plus any permanent man-made additions such as houses and other
buildings.

• Real estate—one of the two main classifications of property—is the interests, benefits,
and rights associated with the ownership of real property.

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Types of Real Estate
There are several types of real estate, each with a unique purpose and utility. For anyone wanting
to understand how the industry works and what each of the main categories represents, the
explanations below will be a useful guide. The main categories are

1 Land

The land is the basis for all types of real estate. Land usually means undeveloped property and
vacant land. Developers acquire land and combine it with other properties (called montage) and
rezone it to increase density and increase property value. Includes undeveloped property, vacant
land, and agricultural land (farms, orchards, ranches, and forest land).

2 Residential

Residential real estate is housing for individuals, families or groups of people. This is the most
common type of property and is the asset class that most people are familiar with. Residential
buildings include family houses, apartments, condominiums, terraced houses and other types of
housing. Any property used for housing. Examples include single-family homes, apartments,
cooperatives, duplexes, townhouses, and multifamily residences with fewer than five
independent units.

3 Commercial

Commercial property refers to land and buildings that businesses use to carry out their
activities. Examples include shopping centers, individual stores, office buildings, parking lots,
medical centers, and hotels. Any property used exclusively for business purposes, such as
apartment complexes, gas stations, grocery stores, hospitals, hotels, offices, parking lots,
restaurants, shopping centers, shops and theaters

4 Industrial

Industrial real estate is land and buildings that are used by industrial enterprises for activities
such as factories, engineering, research and development, construction, transportation, logistics
and storage. Any property used for manufacturing, production, distribution, storage and
research and development. Examples include factories, power plants, and warehouses.

5 Special Purpose

Property used by the public, such as cemeteries, government buildings, libraries, parks, places
of worship, and schools.

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Real estate is a critical engine of economic growth in the US, and housing starts, the number of
new residential construction projects in any given month, published by the US Census Bureau, is
a key economic indicator. The report includes data on building permits, housing starts, and
housing completions for single-family homes, 2–4-unit homes, and multi-family homes with five
or more units, such as apartment complexes. Investors and analysts watch housing starts closely
because the numbers can provide a general sense of economic direction. Additionally, the types
of new housing starts can provide clues as to how the economy is developing.

Examples of real estate

Now that we've outlined the four main categories, let's explore some specific examples of
different property types.

• Single-family house - any house designed for one family only

• Multigenerational Dwelling - Any group of homes designed for more than one family

• Attached – Any unit that is attached to another (not standalone)

• Apartment – A detached unit in a multi-unit building. The boundaries of the apartment are
generally defined by the perimeter of locked or lockable doors. Often seen in multi-story
apartment buildings.

• Multi-family house - Often found in multi-story detached buildings where each floor represents
a separate apartment or unit.

• Condominium (Condo) – a building with individual units owned by individual people.

• Detached house - a detached building not attached to anything else (stereotypical "home")

• Portable Home – Homes that can be moved on a flatbed

• Mobile Home – A vehicle on wheels to which a permanent residence is attached

• Villa – A building with only one room and typically a steep, pointed roof

• Hut – A dwelling usually made of raw materials such as bamboo, mud and clay

1.2 Overview of the Real Estate Industry

Let‘s explore how the industry works and what the major jobs and careers are. The real estate
industry can be divided into several different areas:

1. Development
2. Sales and marketing
3. Brokerage

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 4. Property management
5. Lending
6. Professional services (law, accounting, etc.)

Let‘s look at each of these six areas of the industry in more detail.

1 Development

Real estate development is a process that involves purchasing raw land, rezoning, constructing
and renovating buildings, and selling or leasing the finished product to end users. Developers
make a profit by adding value to the land (creating buildings or improvements, rezoning, etc.)
and taking the risk of financing the project. Development firms create a new product, which can
be considered a "primary market" or the generation of new inventory.

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2 Sales and Marketing

Sales and marketing firms work with developers to sell the buildings and units they create. These
firms earn a commission for creating all marketing material and using their sales representatives
to sell inventory of completed units. These firms usually focus on new units.

3 Brokerage

A real estate brokerage is a business that employs a team of real estate agents (real estate
brokers) who help facilitate transactions between buyers and sellers of real estate. Their job is to
represent either party and help them achieve a purchase or sale on the best possible terms.

4 Property management

Property management companies help property owners rent out units in their buildings. Their
jobs include collecting rent, showing units, fixing defects, making repairs and managing tenants.
They charge property owners a fee, usually a percentage of the rent.

5 Real estate loans

Lenders play a major role in this industry as virtually all properties and projects use leverage
(debt) to finance their business. Lenders can include banks, credit unions, private lenders, and
government institutions.

6 Professional Services

There are a number of real estate professionals who work in the industry and help it run. The
most common examples (in addition to those listed above) are accountants, lawyers, interior
designers, set designers, general contractors, construction workers, and tradespeople.

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Real estate includes land, the natural resources on or under it and any buildings attached to it. It
can be homes, commercial buildings or undeveloped land.

Real estate is considered immovable from its location and called real property as opposed to
personal property — such as cars, jewelry or art — which can be easily moved.
Qualities of Real Estate

There is a finite amount of it

Can be improved or unimproved
Can be bought and sold
Can be owned by individuals, companies or governments

Why is Real Estate so important?

The real estate sector plays a very critical role in the economy; it contributes 6-7% to the GDP,
apart from being a large employment generator. The health of the real estate sector, in fact,
has a strong bearing on consumer sentiments, and housing—as we all know—also has socio-
economic implications.

What is the future of Real Estate?

The real estate group now forecasts 11.6% home value growth over the next 12 months (May
2022-April 2023). Through April 2023, they predict a gradual deceleration in annual home value
growth from the current rate of 20,9 percent to 11.6 percent.

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What are the characteristics of Real Estate?
Economic Characteristics:

1) Scarcity: While most of the land on earth remains unused or uninhabited, the supply of
land in a given location or a given quality is generally limited.

2) Improvements: Building an improvement on one parcel of land can affect that land‘s
value and use. It can also affect the property of neighbors and the community

Social Characteristics

Immobility: Even though one can move dirt and land, they can never change the location
of a parcel.
Indestructibility: Land is also indestructible, permanent, and the location will never
change.
Uniqueness: Although land can be similar and homes may even have the same design
or layout, no two pieces of land are ever the same.

How does Real Estate work?

The real estate market uses properties as an investment medium to profit through their purchase,
sales, renovation, lease, construction, etc. There are many ways a person can invest in a piece of
land and the attachments included in it. Real estate works by improving the property‘s value so
that it can bring higher returns through various techniques.

Is Real Estate a good investment?

The real estate business is considered by many a highly profitable and easy investment option. An
investor can enjoy multiple benefits like appreciation, leveraging the investment, tax benefits, and
regular cash flow. This form of investment is particularly beneficial for those looking for a means
of passive income.

Real estate examples or real property would refer to land, attachments, and any rights or interests
that a property owner may have in the property. For example, artificial attachments would include
any houses, buildings, roads, and fences. In a business context, it refers to purchasing and
managing physical properties for profits.

INTRODUCTION INDIA’S REAL ESTATE SECTOR

Overview
While India continues to be one of the fastest growing economies, this pace of growth is unlikely
to sustain unless it is supported by equally robust development of its infrastructure. Key

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requirements in order to achieve a GDP growth rate exceeding 8-9% include roads, power, ports
as well as urban infrastructure. The last couple of budgets have taken steps in the right direction
for growth of the sector. An allocation of Rs. 200 billion towards infrastructure projects under
the 2011 budget is an attempt to achieve the Government target for growth of Infrastructure
under the Eleventh Plan. India will have around 27 to 30 million shortages of housing units by
2013 and for this; huge amount is required to carry on the development. Slowdown in the global
economy along with consistent increase in policy rates by the Reserve Bank of India (RBI)
finally seems to be impacting the domestic economy with the GDP growth cooling down since
past few quarters. The GDP growth recorded during first quarter of financial year 2012 has
slowed down to 7.7percent as against 9.3 per cent during first quarter of financial year
2011.Even the projected GDP growth for financial year 2012 has been revised downward to 7.9
per cent from 8.2 percent by the RBI. The real estate sector in India is being recognized as an
infrastructure service that is driving the economic growth engine of the country. In fact, Foreign
Direct Investment (FDI) in the sector is expected to increase to US$ 25 billion in the next 10
years, from present US$ 4 billion. The country's urban population will soar to 590 million by
2030,
India's cities could generate 70 percent of the net new jobs created by 2030, produce more
than70 percent of the country's Gross Domestic Product (GDP), and stimulate a near four-fold
increase in per capita income. It also says that India needs to invest US$ 1.2 trillion over next
20years to modernize urban infrastructure and keep pace with the growing urbanization. Non-
resident Indians and foreign citizens who are Persons of Indian Origin (PIO) are allowed to
purchase immoveable property in India. Residential property prices have stabilized now and are
deemed attractive for the NRI home buyer. Industry experts feel that with attractive pricing and
innovation in construction technology and variety of designs, NRIs are taking a fresh look at
India as a unique market in which they can invest. Introduction Real Estate business was one of
the key drivers of growth before we witnessed the present economic slowdown. Now, with
companies trying to consolidate their positions and finding effective means of sustaining growth,
the management of real estate has emerged as one of the key challenges for the corporate sector.
The largest occupier of office space in the country has been the Information Technology/
Information Technology enabled Services (IT/ ITeS) segment, which primarily serves the US
and European markets. The economic slowdown in these markets have resulted in increasing
pressures on the margins of companies operating out of India, which in turn has led to the
companies looking to cut costs through reducing expenditure on the real estate segment. The real
estate sector in India assumed greater prominence with the liberalization of the economy, as the
consequent increase in business opportunities and labour migration led to rising demand for
commercial and housing space.

At present, the real estate and construction sectors are playing a crucial role in the overall
development of India‟s core infrastructure. The real estate industry‟s growth is linked to
developments in the retail, hospitality and entertainment (hotels, resorts, cinema theatres)
industries, economic services (hospitals, schools) and information technology (IT)-enabled
services (like call centers) etc and vice versa. The Indian real estate sector has traditionally been
dominated by a number of small regional players with relatively low levels of expertise and/or
financial resources. Historically, the sector has not benefited from institutional capital; instead, it
has traditionally tapped high net-worth individuals and other informal sources of financing, which
has led to low levels of transparency. This scenario underwent a change with in line with the

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sector‟s growth, and as of today, the real estate industry‟s dynamics reflect consumers‟
expectations of higher quality with India‟s increasing integration with the global economy. Present
Scenario of Real Estate Currently, about 5 per cent of India‟s GDP is contributed by the housing
sector. The GDP share of the real estate sector (including ownership of dwellings) along with
business services was 10.6per cent in 2010-11. After growing at 10.4 per cent in 2008-09, the rate
of growth of this sector has decelerated to 7.8 per cent in 2009-10 and further to 6.9 per cent in
2010-11. Estimates show that for every rupee that is invested in housing and construction, 0.78
paisa gets added to GDP.
Housing ranks fourth in terms of the multiplier effect on the economy and third amongst 14
major industries in terms of total linkage effect according to Economic Survey 2011- 12.Demand
for real estate is expected to grow at a compound annual growth rate (CAGR) of 19percent
between 2010 and 2014 Tier 1 metropolitan cities are projected to account for about 40percent of
this. Growing requirements of space from sectors such as education, healthcare and tourism
provide opportunities in the real estate sector. With institutional credit for housing investment
growing at a CAGR of about 18 to 20 per cent per annum in the next three-five years, the
housing sector‟s contribution to GDP is likely to increase to 6 per cent. While India is among the
top countries in terms of housing and work space needs, it ranks 181st in construction permission
processes according to the World Bank‟s Doing Business 2012 report.

REAL ESTATE MARKET

Real Estate Market Size Activities in the real estate sector may broadly be classified into
residential, commercial and the retail segment and hotels. The size in terms of total economic
value of real estate development activity of the Indian real estate market is currently US$40-45bn
(5-6% of GDP) of which residential forms the major chunk with 90-95% of the market,
commercial segment is distant second with 4-5% of the market and organized retail with 1% of
the market. Over next 5 years, Indian real estate market is expected to grow at a CAGR of 20%,
driven by 18-19% growth in residential real estate, 55-60% in retail real estate, and 20-22% in
commercial real estate. Market Segment In recent years, the Industry has evolved from a highly
fragmented and unorganized Market into a Semi-organized Market. The sector can be divided
into residential, commercial, retail and hospitality asset classes.

1. Commercial Sector The commercial office space in India has evolved significantly in the
past 10 years due to change in business environment. The growth of commercial real
estate has been driven largely by service sectors, especially IT-ITeS. However, with the
emergence of IT-ITeS, which had huge office space requirement, commercial
development started moving towards city suburbs. It resulted in multifold development of
city outskirts and suburbs like Gurgaon near New Delhi, Bandra and Malad in Mumbai,
and the Electronic city in Bangaluru. In addition, over the last 10years, locations such as
Bengaluru, Gurgaon,Hyderabad, Chennai, Kolkata and Pune have established themselves
as emerging destinations for commercial development, which are competing with
traditional business destinations such as Mumbai and Delhi. Tax sops on the profits of
IT-ITeS companies also led to stupendous development of IT Parks and SEZs. However,
the demand for office space is directly linked to addition in number of employees, which
in turn is dependent on economic growth. When economy slows down, companies hold

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 their expansion plans leading to lower demand for office space. Downturn in the
commercial real estate market in India, which had commenced during the second half of
2008, continued during the second half of 2009. The sustained decline was largely the
result of postponement of expansion plans by corporate, which adversely impacted
demand for office space. IT/ITeS, which had been a major demand driver for the sector in
the last 2 years, increased utilization rates of existing commercial space by increasing the
number of shifts.

2. Residential Sector in Real Estate Residential demand is the mainstay of the Indian real
estate sector. The major demand drivers for the residential market include increasing
disposable income levels, increase in the number of nuclear families / households, tax
savings on home mortgage products as well as real estate being considered a ―necessary‖
investment. Demand for houses increased considerably whilst supply of houses could not
keep pace with demand thereby leading to a steep rise in residential capital values
especially in urban areas. Broadly, residential real estate industry can be divided into four
growth phases. Demand is expected to remain strong with capital values witnessing
modest rise. This period is expected to witness a substantial supply of housing especially
in urban areas. In spite of the stupendous growth witnessed in the past 10 years,
substantial housing shortage is still prevalent in India. The housing shortage in India is
estimated at 78.7million units at the end of Phase II. The overall housing shortage in
India is likely to decline to 75.5 million units by the end of Phase IV. However, housing
shortage in urban areas will continue to rise owing to migration towards urban areas and
increasing trend of nuclear families. Housing shortage in urban areas is estimated at 19.3
million units at the end of 2008, up from 15.1 million units at
Housing shortage in urban areas is likely to touch a walloping 21.7 million units by the
end of 2014. Rural areas, on the other hand, will witness a reduction in housing shortage
due to migration and conversion of kutcha houses into pucca houses. The government‟s
continuous focus on improving the housing situation, especially for population below
poverty line, under schemes like Indira Awaas Yojna, Rajeev Gandhi Aawaas Yojna,
Two Million Housing Programmers, is expected to reduce housing shortage in rural
areas. Rural housing shortage is expected to decline to 53.8 million units by 2013-14
from 59.4 million units at the end of 2008. 3. Retail Real Estate In 2010, India witnessed
the addition of more than 5 million sq.ft. of organized retail mall space across various
primary and secondary locations. This was concentrated largely in NCR, Mumbai,
Bangalore and Chennai and was a consequence of the positive sentiments amongst
retailers on spatial expansion and enhancing their footprints across the country. The
growth of malls in India has increased to about 59 which comprises of the retail stock.
The retail stock share will increase to 36 percent in the coming years. Results found out
through a survey state that the retail market is expected to grow in the coming years.
There is an increased development of retail malls which are primarily dominated by local
developers. All the 59malls in the southern & Northern states are either in the stages of
construction or are already established. A few of the active project developers in the
Southern & Northern region are the Mantri Developers, The Prestige Group, DLF, RMZ
Corp and so on. Indian retailers are seeking to implement their expansion plans in
the prime cities as well as select Tier II and Tier III cities. FDI in multi brand real estate,
when finally permitted, is expected to catalyze a lot of demand from international

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retailers. That said, international luxury brands will restrict their growth plans to Mumbai,
Delhi and Bangalore.

Hospitality Real Estate India‟s hospitality industry has enjoyed robust growth over the
past few years buoyed by a benign economic and political environment. Increase in
domestic, business and leisure travel has benefited hotels in India. Rising incomes, higher
weekend trips and increased access to travel-related information over the Internet have
propelled growth in hospitality. Premium segment hotels are more prominent in major
business destinations in India and are dominant in popular tourist destinations like Goa,
which attracts a lot of foreign clientele. In 2010, the industry saw only five private equity
deals with a cumulative value of $ 1 56 million. By 2011, the amount grew to $299
million and during the first five months of 2012, hospitality industry has raised $121
million from private equity. A few years back the industry was polarized between large
five star hotels and small lodges. Now, both domestic hotel chains and international
brands are queuing up with several categories of hotels to cater to different travelers in the
value chain and that is why the demand for real estate properties in India are increasing.
Private equity players are also keen on budget, mid-sized hotels that work on an asset light
model than the asset heavy models that take longer time to become profitable. The entry
of several global brands to fill the demand-supply gap has triggered private equity interest
in the industry.

Special Economic Zone (SEZ) The Government of India introduced the SEZ Act, 2005, to
generate additional economic activity, promote exports and create employment
opportunities in the country. Developing an SEZ is approximately 15 to 20percent cheaper
than developing non-SEZ commercial space; given the various fiscal benefits available to
SEZ developers several real estate developers have been attracted to these projects. Under
the new SEZ Policy, formal approvals have been granted to 574 SEZ proposals as of
March, 2010.As of March 2010, there were 350 notified SEZs and 146 have received in-
principle approval. The SEZ Policy allows usage of as high as 50 percent of the SEZ area
as non-processing zone, offering significant potential for residential and support
infrastructure.

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By 2040, real estate market will grow to Rs. 65,000 crore (US$ 9.30 billion) from Rs. 12,000
crore (US$ 1.72 billion) in 2019. Real estate sector in India is expected to reach US$ 1 trillion in
market size by 2030, up from US$ 200 billion in 2021 and contribute 13% to the country‘s GDP
by 2025. Retail, hospitality, and commercial real estate are also growing significantly, providing
the much-needed infrastructure for India's growing needs.

India‘s real estate sector saw over 1,700 acres of land deals in the top 7 cities in 1 year. Foreign
investments in the commercial real estate sector were at US$ 10.3 billion from 2017-21. As of
February 2022, Developers expect demand for office spaces in SEZs to shoot up after the
replacement of the existing SEZs act.

As per ICRA estimates, Indian firms are expected to raise >Rs. 3.5 trillion (US$ 48 billion)
through infrastructure and real estate investment trusts in 2022, as compared with raised funds
worth US$ 29 billion to date.

The office market in the top eight cities recorded transactions of 22.2 msf from July 2020 to
December 2020, whereas new completions were recorded at 17.2 msf in the same period. In
terms of share of sectoral occupiers, Information Technology (IT/ITeS) sector dominated with a
41% share in the second half of 2020, followed by BSFI and Manufacturing sectors with 16%
each, while Other Services and Co-working sectors recorded 17% and 10%, respectively.

Around 40 million square feet were delivered in India in 2021. It is expected that the country will
have a 40% market share in the next 2-3 years. India is expected to deliver 46 million square feet
in 2022.

According to Savills India, real estate demand for data centres is expected to increase by 15-18
million sq. ft. by 2025.

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In 2020, the manufacturing sector accounted for 24% of office space leasing at 5.7 million
square feet. SMEs and electronic component manufacturers leased the most between Pune,
Chennai and Delhi NCR, followed by auto sector leasing in Chennai, Ahmedabad and Pune. The
3PL, e-commerce and retail segments accounted for 34%, 26% and 9% of office space leases,
respectively. Of the total PE investments in real estate in Q4 FY21, the office segment attracted
71% share, followed by retail at 15% and residential and warehousing with 7% each.

India‘s gross leasing volume in the top 8 cities stood at 16.2 this was 12.4% quarter to quarter
growth in 2021. India‘s net absorption of the office market stood at 11.56 million square feet in
quarter four of 2021. This was an 86% rise QoQ.

Between July 2021 and September 2021, a total of 55,907 new housing units were sold in the
eight micro markets in India (59% YoY growth).

In the third quarter of 2021 (between July 2021 and September 2021), new housing supply stood
at ~65,211 units, increased by 228% YoY across the top eight cities compared with ~19,865
units launched in the third quarter of 2020.

In 2021-22, the commercial space is expected to record increasing investments. For instance, in
October 2021, Chintels Group announced to invest Rs. 400 crore (US$ 53.47 million) to build a
new commercial project in Gurugram, covering a 9.28 lakh square feet area.

According to the Economic Times Housing Finance Summit, about 3 houses are built per 1,000
people per year compared with the required construction rate of five houses per 1,000
population. The current shortage of housing in urban areas is estimated to be ~10 million units.
An additional 25 million units of affordable housing are required by 2030 to meet the growth in
the country‘s urban population.

INVESTMENTS/DEVELOPMENTS:

Indian real estate sector has witnessed high growth in the recent times with rise in demand for
office as well as residential spaces. According to Colliers India, a property consultant,
institutional investments in the Indian real estate sector are expected to increase by 4% to reach
Rs. 36,500 crore (US$ 5 billion) in 2021, driven by rising interest of investors towards capturing
attractive valuations amid the pandemic.

According to a recent report by Colliers India, private equity investments in Indian real estate
reached US$ 2.9 billion in the first half of 2021, which was a >2x increase from the first half in
2020.

Exports from SEZs reached Rs. 7.96 lakh crore (US$ 113.0 billion) in FY20 and grew ~13.6%
from Rs. 7.1 lakh crore (US$ 100.3 billion) in FY19.

In July 2021, the Securities and Exchange Board of India lowered the minimum application
value for Real Estate Investment Trusts from Rs. 50,000 (US$ 685.28) to Rs. 10,000-15,000
(US$ 137.06 - US$ 205.59) to make the market more accessible to small and retail investors.

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According to the data released by Department for Promotion of Industry and Internal Trade
Policy (DPIIT), construction is the third-largest sector in terms of FDI inflow. Construction is the
third-largest sector in terms of FDI inflow. FDI in the sector (including construction
development & activities) stood at US$ 52.48 billion between April 2000 to December 2021.

Some of the major investments and developments in this sector are as follows:

Between January 2021 and September 2021, private equity investment inflows into the
real estate sector in India stood at US$ 3.3 billion.

Home sales volume across seven major cities in India surged 113% YoY to reach
~62,800 units in the third quarter 2021, from 29,520 units in the same period last year,
signifying healthy recovery post the strict lockdown imposed in the second quarter due to
the spread of COVID-19 in the country.

In the third quarter of 2021, the Institutional real estate investment in India increased by
7% YoY. Investment registered in the first nine months of 2021 stood at US$ 2,977
million, as against US$ 1,534 million in the same period last year.

In November 2021, Ascendas India bought Aurum Ventures‘ 16-storey commercial

tower in Navi Mumbai for Rs. 353 crore (US$ 47 million), making it the largest deal of a
standalone commercial tower by a global institutional investor during the past few years.

REA India-owned online real estate company Housing.com tied up with online legal
assistance start-ups LegalKart, Lawrato, Vidhikarya and Vakil in 2021 to offer legal
advice and assistance to homebuyers.

Top three cities—Mumbai (~39%), NCR-Delhi (~19%) and Bengaluru (~19%)—

attracted ~77% of the total investments recorded in the third quarter of 2021.

India's flexible space stock is likely to expand by 10-15% YoY, from the current 36
million sq. ft., in the next three years, according to a report by CBRE.

To establish an investment platform for the Indian retail-led mixed-use assets, in June
2021, GIC announced to acquire a minority stake in Phoenix Mills‘ portfolio (worth US$
733 million).

In May 2021, Blackstone Real Estate acquired Embassy Industrial Parks for Rs. 5,250
crore (US$ 716.49 million) to expand its presence in the country.

To expand into the Indian real estate market, SRAM & MRAM Group collaborated with
Area CAS Developers and Infrastructure Private Limited (Area Group), and Gupta
Builders and Promoters Private Limited (GBP Group) of India. It plans to invest US$ 100
million in the real estate sector.

According to Anarock, housing sales in seven cities increased by 29% and new launches
by 51% in Q4 FY21 over Q4 FY20.

23
 Private market investor, Blackstone, which has significantly invested in the Indian real
estate sector (worth Rs. 3.8 lakh crore (US$ 50 billion) is seeking to invest an additional
Rs. 1.7 lakh crore (US$ 22 billion) by 2030.

In 2021, working remotely is being adopted at a fast pace and demand for affordable
houses with ticket size below Rs. 40-50 lakh is expected to rise in Tier 2 and 3 cities,
leading to an increase in prices in those geographies.

In April 2021, HDFC Capital Advisors (HDFC Capital) partnered with Cerberus Capital
Management (Cerberus) to create a platform that will focus on high-yield opportunities in
the residential real estate sector in India. The platform seeks to purchase inventory and
provide last-mile funding for under construction residential projects across the country.

In March 2021, Property pistol announced it would launch 10 new real estate projects in
Q4.

In March 2021, Property pistol increased its equity stake in Property pistolRealty from
51% to 100% by acquiring equity shares from HDFC Venture Trustee Company.

In January 2021, SOBHA Limited‘s wholly owned subsidiary, Sabha Highrise Ventures
Pvt. Ltd. acquired 100% share in Annalakshmi Land Developers Pvt. Ltd.

GOVERNMENT INITIATIVES:

Government of India along with the governments of respective States has taken several
initiatives to encourage development in the sector. The Smart City Project, with a plan to build
100 smart cities, is a prime opportunity for real estate companies. Below are some of the other
major Government initiatives:

In October 2021, the RBI announced to keep benchmark interest rate unchanged at 4%,
giving a major boost to the real estate sector in the country. The low home loan interest
rates regime is expected to drive the housing demand and increase sales by 35-40% in the
festive season in 2021.

Under Union Budget 2021-22, tax deduction up to Rs. 1.5 lakh (US$ 2069.89) on interest
on housing loan, and tax holiday for affordable housing projects have been extended until
the end of fiscal 2021-22.

The Atmanirbhar Bharat 3.0 package announced by Finance Minister Mrs. Nirmala
Sitharaman in November 2020 included income tax relief measures for real estate
developers and homebuyers for primary purchase/sale of residential units of value (up to
Rs. 2 crore (US$ 271,450.60) from November 12, 2020 to June 30, 2021).

In order to revive around 1,600 stalled housing projects across top cities in the country,
the Union Cabinet has approved the setting up of Rs. 25,000 crore (US$ 3.58 billion)
alternative investment fund (AIF).

24
 Government has created an Affordable Housing Fund (AHF) in the National Housing
Bank (NHB) with an initial corpus of Rs. 10,000 crore (US$ 1.43 billion) using priority
sector lending short fall of banks/financial institutions for micro financing of the HFCs.

As of January 31, 2021, India formally approved 425 SEZs, of which 265 were already
operational. Most special economic zones (SEZs) are in the IT/ BPM sector.

ROAD AHEAD:
Securities and Exchange Board of India (SEBI) has given its approval for the Real Estate
Investment Trust (REIT) platform, which will allow all kind of investors to invest in the
Indian real estate market. It would create an opportunity worth Rs. 1.25 trillion (US$ 19.65
billion) in the Indian market in the coming years.
Responding to an increasingly well-informed consumer base and bearing in mind the aspect
of globalisation, Indian real estate developers have shifted gears and accepted fresh
challenges. The most marked change has been the shift from family-owned businesses to
that of professionally managed ones.
Real estate developers, in meeting the growing need for managing multiple projects across
cities, are also investing in centralised processes to source material and organise manpower
and hiring qualified professionals in areas like project management, architecture and
engineering.
The residential sector is expected to grow significantly, with the central government aiming
to build 20 million affordable houses in urban areas across the country by 2022, under the
ambitious Pradhan Mantri Awas Yojana (PMAY) scheme of the Union Ministry of Housing
and Urban Affairs. Expected growth in the number of housing units in urban areas will
increase the demand for commercial and retail office space.

The Economics of Real Estate

Real estate is a critical driver of economic growth in the U.S., and housing starts, the number of
new residential construction projects in any given month, released by the U.S. Census Bureau,
is a key economic indicator. The report includes building permits, housing starts, and housing
completions data, for single-family homes, homes with 2-4 units, and multifamily buildings
with five or more units, such as apartment complexes1

Investors and analysts keep a close eye on housing starts because the numbers can provide a
general sense of economic direction. Moreover, the types of new housing starts can give clues
about how the economy is developing.

If housing starts indicate fewer single-family and more multifamily starts, it could signal an
impending supply shortage for single-family homes, driving up home prices. The following
chart shows 20 years of housing starts, from Jan. 1, 2000, to Feb. 1, 2020.

25
 Real estate laws
Laws in India are governed by both State-specific laws and Federal laws. This is because,
according to the Constitution of India, ‗Land‘ falls under the State List while ‗Transfer of
property and registration of deeds and documents‘ falls under the Concurrent List. Due to this,
the process of buying and registering a property can seem complicated. First, let us understand
the basics of real estate law in India.
The purchase of property in India falls under RERA.
The Real Estate (Regulation and Development) Act, 2016, and the body under it, the Real
Estate Regulatory Authority or RERA governs the development, marketing, and sale of
real estate projects. It was established with the aim to protect the interests of the consumers in
the real estate sector. It established a mechanism for speedy dispute redressal through the Real
Estate Regulatory Authority and the Appellate Tribunal. It also mandates the compulsory
registration of projects and key players in the real estate sector.
Indian real estate law does not envisage a system of land registration. Rather, the concept of
registration is related to the documents under which the title is transferred from buyer to seller.
Any instruments and documents relating to land are required to be registered in accordance with
the Registration Act, 1908. The system of registration of documents is well defined in India with
robust government machinery that registers and maintains these documents.
The Indian Stamp Act, 1899 governs the payment of stamp duty relating to land. It forms a
major component of costs involved in property registration and is to be paid to the state
governments by the buyer. Since it is collected by the state government, the rates vary from state
to state. In most states, stamp duty is paid in terms of a percentage of the total transaction value.
The other act that comes into play in buying and selling of property is the Transfer of
Property Act, 1882. As per the Transfer of Property Act, a ‗sale‘ is the transfer of ownership in
exchange for a price paid or promised or a price part-paid and part-promised. In the case of
tangible immovable property, the transfer can only be made by registered documents, as
enumerated in the Registration Act, 1908 which is mentioned above. Under Section 55 of the
Act, the seller has a duty to disclose to the buyer any material defect in the property or in the
seller‘s title of which the seller is, and the buyer is not aware and which the buyer could not, with
reasonable care, discover. Misrepresentation gives the buyer the right to compensation or
indemnity from the seller.

26
Though the seller discloses all information about the property as well as his title, the buyer
should exercise due diligence and check the title of the seller. That was a brief introduction to the
Real Estate Laws in India. Now let us talk about the documents that a buyer should check before
purchasing the property.
List of required documents for buying property. It is advisable to keep these documents handy
by all involved parties, that is , purchaser, seller, and witnesses. Each party will need their
Aadhar Card, PAN Card, or any other proof of identity issued by a government authority like a
Voter ID Card or passport, along with two passport-size photographs.
Other documents required are:
An original copy of the sale deed and two photocopies of the same
Certified copies of the Certificate of Incorporation of buyer and seller, in case of
company buyer and not an individual buyer.
Copy of latest property register card to indicate that the property does not belong to the
government obtained from the City Survey Department.
Copy of a municipal tax bill to indicate the year in which the property was constructed.
If the signatories are representing someone else, they have to furnish the power of
authority.

27
1.3 MICHAEL PORTER ANALYSIS

Porter's Five Forces is a holistic strategic framework that has reduced strategic decisions from
simply analyzing current competition. Porter Five Forces focuses on how Real Estate Investors Plc
can build a sustainable competitive advantage in the real estate industry. Managers at Real Estate
Investors Plc can not only use the Porter Five Forces to develop a strategic position in the real
estate industry, but also explore profitable opportunities throughout the financial sector.

Real Estate Investors Plc Porter Five (5) Forces Analysis:

 The threat of new entrants

 Bargaining power of suppliers
 Bargaining power of buyers
 Threat of substitute products
 Rivalry between existing players.

28
 Threats of new entrants
New entrants in real estate are bringing innovation, new ways of doing things and putting pressure
on Real Estate Investors Plc through a lower price strategy, cost reduction and delivering new
value propositions to customers. Real Estate Investors Plc has to deal with all these challenges and
build effective barriers to secure its competitive edge.

How Real Estate Investors Plc can counter the threats of new entrants

Innovation of new products and services. New products not only bring in new customers but also
give old customers a reason to buy Real Estate Investors Plc products.By building economies of
scale to reduce fixed costs per unit.

Building capacity and spending money on research and development. New entrants are less likely
to enter a dynamic industry where established players such as Real Estate Investors Plc regularly
define the standards. It significantly reduces the window of extraordinary profits for new firms,
thereby discouraging new players in the industry.

Bargaining power of suppliers

Almost all companies in the real estate industry purchase their raw materials from many suppliers.
Dominant suppliers may reduce the margins that Real Estate Investors Plc can obtain in the market.
Strong suppliers in the financial sector use their bargaining power to extract higher prices from
real estate firms. The overall impact of the supplier's higher bargaining power is that it reduces the
overall profitability of real estate.

How Real Estate Investors Plc can deal with the bargaining power of suppliers

By building an efficient multi-supplier supply chain.

By experimenting with product designs using different materials so that if the price of one raw
material rises, the company can switch to another.

Development of specialized suppliers whose business depends on the company. One lesson that
Real Estate Investors Plc can learn from Wal-Mart and Nike is how these companies have
developed third-party manufacturers whose business depends solely on them, creating a scenario
where these third-party manufacturers have significantly less bargaining power than Wal-Mart and
Nike.

Threats of substitute products or services

When a new product or service satisfies similar customer needs in different ways, industry
profitability suffers. For example, services like Dropbox and Google Drive replace hardware

29
storage drives. The threat of a substitute product or service is high if it offers a value proposition
that is uniquely different from the industry's current offering.

How Real Estate Investors Plc can deal with the treatment of substitute products/services

By being service oriented rather than just product oriented.

By understanding the basic needs of the customer rather than what the customer is buying.

By increasing switching costs for customers.

Rivalry between existing competitors

If the rivalry between the existing players in the industry is intense, it will lead to lower prices and
lower overall profitability of the industry. Real Estate Investors Plc operates in a very competitive
real estate industry. This competition takes a toll on an organization's overall long-term
profitability.

How Real Estate Investors Plc can deal with the intense rivalry among existing competitors
in the real estate industry

By building sustainable differentiation

By building scale to better compete

Working with competitors to increase market size rather than just competing for a small market

30
 INTRODUCTION

1. The Company Profile

Property Pistol is silently heralding a revolution in Indian Real estate. Our aim is to
aggregate the supply of Real estate by aggregating brokers, through syndicate platform, and
all RERA registered projects, under radiate platform, to create a one stop shop for buyers of
real estate in India. Property Pistol will, through our smart business oriented integration of
stake holders, ensure that the ultimate buyer experience is beyond expectations and buyer
transacts in real estate with total peace of mind and under an overarching umbrella of trust.

Property Pistol is a pioneering idea, an evolution in the domain of Indian realty. It envisages
a smooth integration of Cutting edge technology with Optima! Ground presence to serve
the Buyer. Property Pistol, a brick & Click hybrid, is envisioned to be a one stop destination
where buyers can have access to broad-ranging, real- time and relevant information about
different properties in a systematized manner with high-quality content & facilities like
uploading photos and videos of properties to take "Buying Decision on-Line at the comfort
of their homes/offices: Expert professional on-the-ground support, through Property Pistol
Syndicate Partners, ensures smooth transaction once a buyer has shortlisted the property
online through Virtual-site visits and helped by apartment complex profiling and rich
content regarding locality etc. Currently Property Pistol Syndicate network is being formed
aggressively on the ground, the web front client interface is in the making and will go live
once the network is extensive across length and width in Mumbai MMR region. Property
Pistol is a backed by experienced business professionals from premier institutes like IIT

31
Kanpur, IIT Mumbai This vision was extensively brainstormed, designed, planned and
implemented by smoothly integrating cutting- edge technology with optimal ground
presence to help customers (Property Developers, Retail & Institutional Brokers and end-
Buyers) achieve their desired objectives. The resultant product of these efforts went way
beyond a "Brick and

32
 Click" portal to becoming a pioneering idea and an evolution in the Indian real estate
industry. Property Pistol's service offerings not only provide online Brokerage services but
also extensive financial solutions and Technology based industry specific solutions which
have been a huge success with customers across India. Undoubtedly, Property Pistol has its
skin in the game and we assure our customers that "No One Targets Your Need Better"!
Their Core Values over the last 5 years, the company has seen an exponential growth with
an exceptional track record and an average y-o-y revenue growth of 100%. While the
company has expanded and grown in size and numbers to become a trusted real estate
advisor to its stakeholders, we have ensured seamless & transparent communication with
all our stakeholders with a zero tolerance for unethical dealings. This has been made
possible because of strong fundamentals on which the company was founded • Honesty ▪
Professionalism ▪ Benevolence

Logo Philosophy
Pistol is associated with targeting – at Property Pistol our endeavor is to get a buyer quickly
to his/her dream home. The strength in our platform is on the buyer side.Vibrant orange
defines best practices taken towards establishing strong conduct. Orange appeals to youth,
further creating a diverse industry that converges both technology and traditional values of
real estate all in one singular platform.The whole amalgamation of colors echoes our brand
motto- No one targets your need better.

33
Vision:
The vision of Property pistol Real Estate Pvt Ltd, Company is to see our business
stakeholders – brokers & builders, to prosper with complete and unwavering commitment
to protection of buyer‘s interests in all situations. We want to create an online platform
where buyer can shortlist his dream property at the comfort of his home. to achieve the
highest possible standards of the real estate market while establishing our agency as the
premier and preferred real estate company in India

Mission:
The mission of Property pistol Real Estate Pvt ltd, Company is to give buyer a seamlessly
integrated platform where he can search, shortlist and finally transact his choice of real
estate asset in shortest possible time and maximum convenience under an umbrella of trust
and security with complete peace of mind. The Property pistol Real Estate Pvt ltd, Company
is dedicated to the highest standards, systems and performance necessary to fulfil all of your
real estatedreams.

Corporate Philosophy:
At Property Pistol things revolve around Trust. This is at the core of company‘s existence.
This is the very value that is completely missing in Indian real estate and our effort is to
revive Trust in real estate. We wish to treat all stakeholders in just and fair manner.

34
A. Mission Evaluation

Component Present
Customers
✓
Products and services
✓
Markets
✓
Concern for survival, growth, profitability
✓
Philosophy
✓
Technology
✓
Self Concept
Concern for public Image
✓
Concern for employees
✓

35
 1.1 The customers

Not only should a business set a budget for marketing and sales, it also needs to keep track
of the metrics of success. This means tracking which marketing efforts generate leads, what
are total number of leads and what percentage of leads close. Compare marketing campaigns
against each other to see the more profitable strategies. Segmenting means using keywords
(or fields within your CRM) to separate your contacts into groups based on similar needs,
wants, or interests. One common method of segmenting is to categorize people by type of
contact. Those segments might include Buyer, Seller, Title Company, Lender, Agent, Land,
Residential, Commercial, and SOI (Sphere of Influence). When you segment your contacts
into these smaller, more niche target audiences, you have the opportunity to create
personalized marketing messages that will really spark their interest. Product here is
positioned in such a way that it reflects the brand for eg. Property pistol24, which directly
attracts the minds of customers in buying a branded property that too in minimal possible
rate. • Property pistol being a channel partner does marketing for various builders, it markets
and gives sales to builders in exchange of decided ladder of prices.

The customers can be classified in three departments:

1. Syndicate Platform (Network for Brokers)

A technology solution, based on the ―Together-We-Grow‖ philosophy, custom built to

help the Real Estate Broker Community professionally run their business with enhanced
business opportunities & revenue streams. Get access to new Project Launches at the
comfort of your personal space. Use the tools and technology to perfect your business
strategy and improve your customers‘ experience. Promote your property listings and
select the ones that may be relevant to you. Connect with other users over the platform
and gain access to more suited leads for the secondary market.

The customers can be classified in three departments:

36
2. Syndicate Platform (Network for Brokers)

2. Property Pistol Radiate

The vision behind Radiate is to create a network and cooperation of builders and brokers
irrespective of their size and geography/coverage in order to achieve mutual business
transformation and gain tremendous value for their products and services. Its goal is to foster
deep-rooted relationships and goodwill with key stakeholders, such as local and national
builders and brokers, to reach out to masses and fulfil their dream of possessing their own home
in simplest and easiest manner.

37
2.1 Loan Services

Over the last 5 years, PropertyPistol has found a significant gap while handling of financial
needs of stakeholders in this industry, the property dealings fall through the crack for want of
funds - either by the developer or the buyer. PropertyPistol has setup a dedicated vertical that
has been successfully handling loan requirements for various stakeholders in the industry.
PropertyPistol aims to provide you with Hassle-free financing options with rapid approvals,
flexible options and timelyclosings!

38
2.2 The Competition:
Major competitors of property pistol –
360 Realtors

Established in 2014, 360 Realtors, as the name suggests, specializes in providing all-around
solutions to meet the various facets of residential & commercial property purchase &
investment. In this short period of existence, we have established ourselves as the largest
real estate advisory in India through our commitment towards building new benchmarks of
excellence in the industry. Driven by our motto of Commitment, Honesty & Reliability, we
continuously pursue the goal of identifying the best possible opportunities for our clients
and assisting them in making smart & prudent decisions.

Square Yards

Square Yards is India‘s largest integrated platform for Real Estate & Mortgages and one of
the fastest growing Proptech platform in UAE, Rest of Middle East, Australia &

39
Canada. Square Yards platform offers an integrated consumer experience & covers the full real-
estate journey from search & discovery, transactions, home loans, rentals, property management
and post-sales service – fully integrating buyers to an extensive network of 500+ partner real
estate developers, 150,000+ Agents and 100+ banks & NBFCs. Square Yards‘ integrated online
to offline (O2O) transactional model and positioning as one stop shop for entire home services
model (new homes, resale, rentals, property management) brings exhaustive supply, demand
and distribution together to tap the highly fragmented brokerage market.

 - One of the Largest Tech-led Brokerage of Primary Real EstateGlobally

 - Largest Real Estate Brokerage & Mortgage Marketplace in India
 - Fastest Growing Proptech Platform in GCC, Australia &Canada
 - Virtual monopoly amongst Non -Resident Indians investing in Indian Real
Estate

1.3 The Environment

Property is a rather simple commodity whose value depends largely on the supply and
demand. There are a lot of micro and macro factors that swing the supply and demand
balance one way or another. To make the right decision when buying property, you need to
have a basic understanding of the macro and micro factors that affect the real estate market.
By understanding what makes the property tick, you will be able to establish the best
property investment strategy for you. There is one thing you need to be clear from the
beginning.

1.4 The Technology

Property Pistol‘s CRM solution is a one-stop shop for realty builders and brokers for their
end-to-end pre-sales cycle. This tool has been designed and developed based on real-life
experience to ensure complete lead management, planning, follow-up and complete
bottoms-up reporting. A technology solution custom built to help Real Estate Companies
professionally manage leads and convert them to customers with reduced cycle time.

40
41
PROCESS OF CRM

Step 1. Firstly, calling should be done on CRM Data. We explain the product to the
customers over the call.

Step 2. Secondly a meeting is scheduled with the interested Buyers. We give them a
presentation and explain them everything about the product.

Steps 3. We Update customer feedback in the CRM Business Features of our solution
• Lead management & tracking for sales

• Work assignments & reassignments based on executive availability alongwith

recycling and bulk update of leads

• Effective Management Reports for Real-time team performancemonitoring

• Productivity tracking to enable course correction

• Project-wise view for the leadership team Technology Features of oursolution

• Rapidly access 360-degree history of leads and associated requests, notesetc

• Setup reminders for next call date at a lead level for necessary follow-up and ac tion items

• Build, automate and optimize an end-to-end pre-salesprocess

• Report on your sales pipeline, teams andtrends

• Customizable to integrate with external sources such as 99acres and other property portals

• Real-time updates to track customer needs and requirements

• Segment customers to create highly targeted bulk email and SMS blastcampaigns

42
1.5 Business Performance

Over the past years, the company has seen an exponential growth with an exceptional track
record and an average y-o-y revenue growth of 100%. While the company has expanded
and grown in size and numbers to become a trusted real estate advisor to its stakeholders,
we have ensured seamless & transparent communication with all our stakeholders with a
zero tolerance for unethical dealings. This has been made possible because of strong
fundamentals on which the company was founded

• Honesty

• Professionalism

• Benevolence

43
44
 SWOT ANALYSIS

1.8 What is SWOT Analysis?

SWOT Analysis of Property pistol by EMBA PRO includes the four key elements - Strengths,
Weaknesses, Opportunities, & Threats. The strengths and weaknesses address the internal
factors of the company, opportunities, and threats are the macro challenges that Property pistol
is facing in India and other international markets where it operates.

45
2.1 SWOT ANALYSIS

Strength Weaknesses

• Well trained and professional Sales Team (all • Lack of infrastructure is another deterrent for
MBA‘s are hired only) the Indian Real Estate Sector.
• Availability of recent Technology for Working • Syndicate cannot work without their brokers
Effectively they are highly dependent on their
• 250+ active Real Estate In house Channel performance.
Partner • The company do not focus on retention of
• Association with all the A-Graded Builders employees. Employees leaves their job within 2-
3 months of joining.

Opportunity Threats

• Growing potential for commercial real estate • The Indian Real Estate Sector is still highly
market growth. unorganized with lots of middle men.Online
• RERA (The Real Estate (Regulation and Portals such as 99 Acers, Magic Bricks would
Development) Act, GST (Goods and Services Tax) be influencing towards consumer decision
and REITs (Real Estate Investment Trusts) have been making. • Indian economy is growing in an
implemented which is encouraging investor uneven unpredictable.
sentiment for real estate especially the commercial • Demonetization has resulted in shortage of
real estate segment. cash and low transactions in property market
• The growing young population of India and leasing activity due to large involvement
supports strong demand for both residential and of cash component.
commercial properties in India. • entry of new players and performance of their
developers and partners affect them a lot.

46
 PESTEL ANALYSIS AND PORTER’S FIVE FORCES MODEL

3.1 PESTEL Analysis

Political Analysis:

• Political influences and sanctioned projects such as: The Smart CityProject
Influence and affect the real estate market

• The Securities and Exchange Board of India (SEBI) has proposed easier
regulations for real estate investment trusts (REITS)

• The Rajya Sabha or the Government of India has brought into force the Real Estate
(Regulation and Development) Act, 2019.

Environmental Analysis:

• No new commercial activity are allowed under eco sensitive zone accordingto Okhla
bird sanctuary

Sociological Environment:

• Demographic: India represents 17.5% of the globalpopulation.

• Education: The adult literacy rate in 2006 was 62.8%

• Health: In India, 29.8% population lives below the national poverty line in2010.

• Jobs in India: The employment rate in 2011 for the population aged 15 and above is
53.6% and the unemployment rate of labor force is of 3.6%.

47
Technological Environment:

• Usage of internet for booking, renting and buying property online. Some of thetop players
of web based real estate companies are 99acres, Housing.com and commonfloor.com.

• Change in construction pattern over the years which resulted in high raised
earthquake resistant buildings.

Legal Environment:

• Introduction of Real Estate regulatory bill

• Loans and investments by company

• SEBI regulations for real estate investment trusts (REITS)

Economical Environment:

• Investment friendly tax reforms can act as an economical tool to revive almostdead India
economy.

• Ease of availability of financiers will aid the government in achieving its 'home to all by
2022' program.

• FDI norms have been modified to attract foreign players in Real Estate sector. The smart
city project and the make in India campaign has created a positive image of India at
international level.

48
 3.2 Porters five forces:

1. Threat of New Entrants

• There will be decrease in profitability due to increase in the number of entrants. It has
been difficult for the new entrants to get a hold because of strong rivalry between
existing firms.

• To set the belief of customers on new entrant is difficult.

• Result: Relatively weak threat of new entrants

2. Bargaining Power of Buyers

• Powerful customers are able to exert pressure to drive down prices, or increase the
required quality for the same price, and therefore reduce profits in an industry.

• Customers significantly influence the business operations in realestate.

Consequently, the bargaining power of the buyers is strong.

3. Bargaining Power of Suppliers

• An important category of suppliers is the bank. They have the power todecide
whether to fund a venture or not and at what rate.

• Banks have now become highly conservative especially after the economic
downturn.

• Supplier can decide with whom they wabt to make tie-ups so ICP need to be active.

• Consequently, the bargaining power of suppliers is verystrong.

49
 4. Threat of substitute products and services

• In real estate business, substitute might be some type of totally new retail space,
some new location for office space or rehabilitation instead of new construction.

• The threat of substitute in real estate business and its impact on profitability of the
industry is quite ambiguous and difficult to establish given the economic downturns and
the recovery mode of the real estate businesscycle.

5. Rivalry among Existing Competitors

• Rivalry is strong due to the large no. of real estate firms operating in India (65 in total)
and the difficulty to differentiate

• The services offered by real estate companies cannot be differentiated because these
firms don‘t offer a product, other than the facilities they lease and this itself is very difficult
to quantify. In the current economic crisis, there is minimal profitability and only
companies with large cash reserves are likely tosurvive.

Summary of analysis:

Force Strength
(High/Medium/Low)
Threat of new Entrants High

Customers Bargaining Power High

Suppliers Bargaining Power High

Threat of Substitute Medium

Rivalry among existing Firms High

50
 PROJECT HANDLED

Projects handled in a tenure of 3 months:

1. Property pistol Upavan Thane Extension

2. Property pistol Green Vistas Mahalunge

3. Property pistolUrban Park Chandivali

4. Shapoorji Pallonji Bavdhan

5. Mahindra Tathawade

6. Risland The Icon

51
52
4.1. Major project handled:

1. Property pistolGreen Vistas Mahalunge

Property pistolGreen Vistas, in the heart of Mahalunge, Pune where home-seekers willget a
marvelous locality for their abode. Avail all the comfortable facilities offered by Property pistol
in this new undertaking.

This Project is yet another extraordinary highlight for offering a luxury inhabited residence for
all segments of Homebuyers for the last numerous decades and have won plentiful accolades
for their quality work in this sector. Property pistolGreen Vistas Mahalunge is nestled in the
foothills of Deccan Plateau which is quite lush green with a pleasing and spectacular view.

53
54
Amenities:

Master Plan:

55
Floor Plan:

PRICING DETAILS:

56
 EXCECUTIVE WORK

A. Target set for Assistant Sales Manager

B. Syndicate Platform CRM Tool:

Step 1. Firstly, calling is done to the old CRM Data. We explain them the concept in short in
the calling process.
Step 2. Secondly a meeting is scheduled with the interested Brokers. We present them with a
demo and presentation.
Step 3. We provide some benefits to the clients such as: Web page, CRM tool.
Step 4. Calculation of bandwidth: According to the flow of leads per day, senior sales manager
will make an analysis about the bandwidth of his team.
Then according to the conclusion drawn from the analysis, leads will be distributed amongst
the team members.
Step 5. Sales Pitch: At first only the senior sales manager pitches the client and shows a
demonstration of the pitch that must be followed throughout theproject.
We can directly push customers for cheque and for booking of the units. But, the scenario is
totally opposite when it comes to premium projects like Godrej, L&T we cannot push clients
for cheque. As these properties are quite exclusive as their ticket sizes are high.
Step 6. Filtration of leads on the CRM: Once the sales pitch is set by senior sales manager now
the assistant sales manager and his team are given the leads in their individual CRMs.

57
Remaining team will follow a similar pitch given by the senior sales manager.
Then they will filter out the clients according to the conversation they had into the following
filters:
Hot: When the client is quite genuine and will buy the property.
Very Hot: When the client is very genuine and will immediately book or buy the property in a
tenure of 2-3 days.
Warm: When the client is interested in the property but needs time to think over it. Following:
When the client is just inquiring and later giving reasons and not showing any clear intentions.
Cheque picked: When the client has given the cheque, that may be in terms of showing interest
towards property (PDC) or may be in terms of the booking property. Booking Done: When the
client has no doubt and has booked theproperty.
Dead: When the client is not interested or has various reasons like out of budget or not
interested in the location etc.
Step 7: Site Visit Planned: Now the site visit planned cases of the entire team will be compiled
and tracked the next day by our executives who are present at the site to attend the clients. Then
on the developers site the following procedure is followed: The client is called from the site and
his timing for arrival is confirmed again in the morning. When the client arrives, they are given
a tour of the show/sample flats and then made to sit on the decision table. On the table at the
site, only the following conclusions can take place: Booked, Hot, Warm, Dead.
Step 8: Follow up: • The clients who have visited but not booked their feedback is received
from site and then the follow up takes place again till the client either books or comes under
the filter dead. Developer Table Client Channel Partner.

58
 Chapter 2
Literature Review

59
Susan Hudson-Wilson, Frank J. Fabozzi, and Jacques N. Gordon

Initially, real estate was viewed as diversification, which was supported by the Employee
Retirement Act of 1974. However, given the nature of real estate as a hybrid of debt and equity
and the emergence of new ways of investing in real estate markets, it is clear that there may be
other motivations for the decision to include real estate in a portfolio of mixed assets. This article
explores 5 possible uses of real estate: to reduce overall portfolio risk, to achieve high absolute
returns, to hedge against unexpected inflation or deflation, to mirror the overall investment
universe, and/or to provide strong cash flows to the investor. But first w,e need to redefine real
estate to include the new public debt and equity markets that have joined the traditional real
estate private debt and equity markets. A new index of total real estate performance is
introduced. The article concludes by considering the types of investors who might see a role in
real estate; several classes of investors would likely benefit from including real estate in their
investment portfolio.

Susan Hudson-Wilson, Jacques N. Gordon, Frank J. Fabozzi, Mark J.P. Anson, and S.
Michael Giliberto

Real estate for institutional investors is most broadly defined to include private commercial real
estate equity, private commercial real estate debt, public real estate assets structured as real estate
investment trusts or real estate companies, and public commercial real estate debt structured as
commercial mortgage loans. secured securities. Arguments presented in a 2003 special issue of
this magazine for adding real estate to a well-managed institutional investment portfolio include
portfolio diversification and risk reduction, absolute return enhancement, inflation protection,
investment universe reflection, and strong cash flows. . A review of these portfolio issues and
updated empirical analysis continue to support the case for real estate. Institutional investors who
invest in real estate face special challenges; the articles in this 2005 special issue address them.

Sita C. Amba‐Rao American Journal of Business

To understand the service component of the real estate business, an exploratory study was
conducted. A sample of clients of a real estate agency in a midwestern city was surveyed by mail
questionnaire. Clients' opinions on the experienced service and their satisfaction with the service
were investigated. Five service factors were found to be related to client satisfaction:
expectation, communication, relationship, effectiveness, and knowledge. Of these, expectations
had the greatest influence. Expectations relate to the business partner role and the sale/purchase
transaction. The analysis included implications for research and practice.

60
(Worzala, E., & Sirmans, C. F. (2003). Investing in international real estate stocks: a
review of the literature. Urban Studies, 40(5-6), 1115-1149.)
This paper provides a critical review of research on international direct investment in real estate.
To date, no review article has examined the various findings of completed studies on the benefits
of international real estate diversification. Over the past 10 years, the amount and variety of work
have increased dramatically. The article is organized according to how investing in a real estate
asset is analyzed: in the context of a mixed asset portfolio or in the context of a real estate only
portfolio. The fourth section focuses on research that has examined currency risk, one of the
predominant risks associated with international investing. The final section provides research
conclusions and offers ideas for future research in this growing area of real estate investment.
(Salzman, D., & Zwinkels, R. C. (2017). Behavioral real estate. Journal of Real Estate
Literature, 25(1), 77-106.)

Deciding to buy a residential property can be one of the most important transactions people will
ever make, and the emotional attachment when houses become homes is inevitable. However,
this stylized fact seems to be underrepresented in the literature. While its importance is
undeniable, the consumption functions, as well as the social and emotional perspective of real
estate, are often neglected. We provide an overview of the current state of the main topics in
which the behavioral approach intersects with real estate to gain a deeper understanding of the
built environment. There seems to be general agreement that behavioral studies can help provide
insight into real estate markets, but that much of behavioral decision-making remains undefined.

(Haila, A. (2000). Real estate in global cities: Singapore and Hong Kong as property
states. Urban studies, 37(12), 2241-2256)
The importance of real estate, an immovable asset, is not only surprising in a global era defined
in part by the mobility of capital, but also because in Singapore and Hong Kong land is publicly
owned. The article attempts to explain the anomaly by analyzing land allocation mechanisms in
Singapore and Hong Kong. Despite the similarities, the real estate markets in Singapore and
Hong Kong show several differences, which in turn are associated with different policy options
for their management.
(Pagourtzi, E., Assimakopoulos, V., Hatzichristos, T., & French, N. (2003). Real estate
appraisal: a review of valuation methods. Journal of Property Investment & Finance).
Real estate valuation is a central principle for all businesses. Land and property are factors of
production, and as with any other asset, the value of land derives from the use to which it is put,
which in turn depends on the demand (and supply) for the product being produced. Appraisal in
its simplest form is the determination of the amount for which a property will trade on a certain
date. However, there are a wide variety of purposes for which awards are sought. These range
from valuation for purchase and sale, transfer, tax assessment, expropriation, settlement of
inheritance or property, investment and financing. The aim of the paper is to provide a brief
overview of the methods used in real estate valuation. Valuation methods can be grouped as
traditional and advanced. Traditional methods are regression models, comparable, cost, revenue,
profit and supplier method. Advanced methods are ANN, hedonic valuation method, spatial
analysis methods, fuzzy logic and ARIMA models.

61
(Jackson, T. (2001). The effects of environmental contamination on real estate: A literature
review. Journal of Real Estate Literature, 9(2), 91-116.).
The literature reviewed in this article reflects the extent to which practitioners and academics
struggle to reach consistent findings regarding the impact of environmental contamination on
real estate. The evaluation literature in this category deals with evaluation methods but does not
develop a consensus. The empirical literature on selling prices is also inconsistent, with
disagreement about the existence and magnitude of price effects, the persistence of these effects,
and other issues. The article concludes by summarizing the results of these studies with respect
to source of contamination, effect on sale price, persistence, and intervening factors such as
strong or weak market conditions.
(Born, W., & Pyhrr, S. (1994). Real estate valuation: the effect of market and property
cycles. Journal of Real Estate Research, 9(4), 455-485.)
This study uses a cycle pricing model to evaluate the links between real estate supply and
demand cycles, equilibrium price cycles, inflation cycles, rent catch-up cycles, and real estate
life cycles; translates their effects into cash flow variables; and demonstrates their significant
impact on asset value. The results of the cycle model are then compared to those produced by
traditional "trend-driven" borrower and lender valuation models. The study results suggest that
appraisers should develop cash flow models that explicitly include cycle effects to produce
realistic present value estimates and valuation conclusions. Furthermore, the market research
process must be redefined and reorganized to produce information and data for use in cycle
models.
(Jackson, T. (2001). The effects of environmental contamination on real estate: A literature
review. Journal of Real Estate Literature, 9(2), 91-116.)

The literature reviewed in this article reflects the extent to which practitioners and academics
struggle to reach consistent findings regarding the impact of environmental contamination on
real estate. The evaluation literature in this category deals with evaluation methods but does not
develop a consensus. The empirical literature on selling prices is also inconsistent, with
disagreement about the existence and magnitude of price effects, the persistence of these effects,
and other issues. The article concludes by summarizing the results of these studies with respect
to source of contamination, effect on sale price, persistence, and intervening factors such as
strong or weak market conditions.

Kärnä, S. (2004). Analysing customer satisfaction and quality in construction–the case of

public and private customers. Nordic journal of surveying and real estate research, 2.
In recent years, considerable attention has been paid to improving quality and customer
satisfaction. This study examines the construction industry in terms of customer satisfaction and
quality. A framework for evaluating the dynamics of customer satisfaction and quality is
developed. An empirical analysis is conducted to investigate customer satisfaction in the

62
construction industry as perceived by two customer groups: public and private customers. The
results indicate that the need for suppliers to improve performance mainly relates to quality
assurance, handover procedures and material. Public customers were found to be less satisfied
with supplier performance than private customers. For suppliers, the main advantage of high
customer satisfaction is the possibility to remain a potential partner of the customer in the future.

Zhang, Y. (2015). The impact of brand image on consumer behavior: A literature

review. Open journal of business and management, 3(01), 58.

The term "brand image" has attracted considerable attention from both academics and
practitioners as it has played an important role in marketing activities. Although image has been
recognized as a driver of brand assets and brand performance, few studies have elaborated on the
relationship between brand image and brand equity. Based on brand image theories, this study
reviewed existing studies on the impact of brand image on consumers from a customer equity
perspective. She also presented the shortcomings of current research and pointed out trends for
future study.

Gatzlaff, D., & Tirtiroğlu, D. (1995). Real estate market efficiency: issues and evidence. Journal of
Real Estate Literature, 3(2), 157-189.

This article provides an overview of studies that have examined the efficiency of the real estate
market. Existing evidence suggests that real estate market segments (i.e., housing, income and
real estate, and land markets) experience varying degrees of efficiency. Short-term housing
returns (and real house price changes) are generally found to be positively autocorrelated.
Moreover, initial evidence suggests that long-term returns to housing may be modest. Consistent
with the housing market, land price movements appear to be serially dependent. Income property
markets are said to be more efficient than the housing market, but less efficient than corporate
equity markets. However, most researchers report that when examining trading rules, transaction
costs typically prevent investors from taking advantage of predictable price movements in any of
the market segments. Finally, many studies reports that their findings are preliminary and
suggest the need for further work.

63
Worzala, E., & Sirmans, C. F. (2003). Investing in international real estate stocks: a review
of the literature. Urban Studies, 40(5-6), 1115-1149.

This article summarizes the various findings of completed studies on the benefits of international
diversification using real estate stocks. With the increased availability of data and analytical
tools, the amount and variety of work in this area has increased dramatically over the past
decade. The first two sections of the article chronologically summarize the studies and focus on
how the benefits of diversification are analyzed: in the context of a mixed-asset portfolio or in
the context of a real estate-only portfolio. The third section highlights work that uses alternative
analyzes to the traditional mean-variance framework to examine international real estate stocks
as an investment alternative. Almost all studies reach the same conclusion: diversification gains
are possible, but are often reduced when currency risk is included in the analysis.

Sirmans, C. F., & Worzala, E. (2003). International direct real estate investment: A review
of the literature. Urban Studies, 40(5-6), 1081-1114.

This paper provides a critical review of research on international real estate direct investment. To
date, no review article has examined the various findings of completed studies on the benefits of
international real estate diversification. Over the past 10 years, the amount and variety of work
has increased dramatically. The paper is organized according to how investing in a real estate
asset is analyzed: in the context of a mixed asset portfolio or in the context of a real estate only
portfolio. The fourth section focuses on research that has examined currency risk, one of the
predominant risks associated with international investing. The final section provides research
conclusions and offers ideas for future research in this growing area of real estate investment.

Koch, D., Despotovic, M., Leiber, S., Sakeena, M., Döller, M., & Zeppelzauer, M. (2019). Real estate
image analysis: a literature review. Journal of Real Estate Literature, 27(2), 269-300.

Image analysis and computer vision are powerful techniques that have been used successfully in
various fields, but have hardly found their way into the real estate sector. However, real estate
offers great potential because there is a large amount of image content related to buildings and
their surroundings, which implicitly provide rich information regarding buildings and context. In
the field of computer vision, increased attention has recently been paid to images of real estate.
In this article, we review current trends in real estate image analysis (REIA) and explore the
potential of image analysis for the real estate sector. We are laying the groundwork for more

64
comprehensive real estate image data analytics that should help inspire new approaches, methods
and services in the industry.

Renaud, B. (1997). The 1985 to 1994 global real estate cycle: an overview. Journal of Real
Estate Literature, 5(1), 13-44.

Globalization of financial markets affects real estate markets. During the period 1985 to 1994, a
large number of countries experienced a strong real estate boom that peaked around 1989,
followed by a sharp deflation in asset prices and a decline in output that usually lasted until 1994.
Global finance appears to be irreversible. Should we also expect a repeat of real estate cycles
with strong amplitude? Or does this first global cycle represent a one-off adjustment to global
integration taking place in many countries simultaneously? To facilitate further comparative
analyses, this article inventories the international and domestic factors in their macroeconomic
and internal real estate cycle dimensions that have contributed to this strong global cycle. This
review has three threads: What triggered this first global cycle? What was its impact? Are there
lessons for countries not yet fully integrated into global capital markets, such as semi-reformed
socialist economies, newly industrialized economies, and other developing countries?

Falkenbach, H., Lindholm, A. L., & Schleich, H. (2010). Review articles: environmental
sustainability: drivers for the real estate investor. Journal of Real Estate Literature, 18(2), 201-223.

The role of environmental sustainability has grown in the real estate sector. However, the lack of
evidence of financial benefits and the unequal distribution of costs and benefits between owners
(investors) and tenants have slowed the adoption of sustainable principles. This study identifies
the drivers and benefits of environmentally sustainable buildings from a real estate investor's
perspective. The research is based on a comprehensive literature review focusing on previous
research that shows scientific evidence of the benefits of investing in environmentally
sustainable buildings.

Brounen, D., & De Koning, S. (2012). 50 years of real estate investment trusts: An international
examination of the rise and performance of REITs. Journal of Real Estate Literature, 20(2), 197-223.

In 1960, the US Congress passed the Real Estate Investment Trust (REIT) Act to expand the
investment world beyond securities such as stocks and bonds. The REIT standard has been
adopted in 34 countries. In this paper, we examine the development and performance of this
65
international REIT market. As REIT markets mature, we find that standard asset pricing models
are becoming more appropriate for explaining REIT share price movements. Our results show
that over the last decade, REIT stock performance was the highest in Europe and was positively
related to firm size, level of property type specialization and geographic focus of the portfolio.
The REIT's systematic risk is the highest among Asian REITs and is primarily a reflection of
leverage, especially in recent years.

Pagourtzi, E., Assimakopoulos, V., Hatzichristos, T., & French, N. (2003). Real estate appraisal: a
review of valuation methods. Journal of Property Investment & Finance, 21(4), 383-401.

Real estate valuation is a central principle for all businesses. Land and property are factors of
production, and as with any other asset, the value of land derives from the use to which it is put,
which in turn depends on the demand (and supply) for the product being produced. Appraisal in
its simplest form is the determination of the amount for which a property will trade on a certain
date. However, there are a wide variety of purposes for which awards are sought. These include
valuations for purchase and sale, transfer, tax assessment, expropriation, inheritance or
settlement of property, investment and financing. The aim of the paper is to provide a brief
overview of the methods used in real estate valuation. Valuation methods can be grouped as
traditional and advanced. Traditional methods are regression models, comparable, cost, revenue,
profit and supplier method. Advanced methods are ANN, hedonic valuation method, spatial
analysis methods, fuzzy logic and ARIMA models.

Feng, Z., Price, S. M., & Sirmans, C. (2011). An overview of equity real estate investment
trusts (REITs): 1993–2009. Journal of Real Estate Literature, 19(2), 307-343.

This study documents the universe of publicly traded equity real estate investment trusts (REITs)
during the modern REIT era (from the early 1990s to the present). Industry growth and
consolidation, changes in real estate type focus, growth in institutional ownership, and growth in
the use of operating partnerships are documented. In addition, trends in cash flows, fluctuations
in dividend payments, increases in leverage, differences in accounting performance measures
(ROA, ROE, Tobin's Q), increases in expense ratios, and differences in profit margins are driven
by property type. A list of all firms that meet the publicly traded REIT qualifications is also
provided.

66
Lecturers, Aristotle University of Thessaloniki, School of Urban-Regional Planning and
Development Engineering 2Post Graduate Student, Aristotle University of Thessaloniki,
School of Civil Engineering (GREECE)

This paper maps the main issues in the real estate market and environment literature. Real estate
business is one of the basic economic sectors in the world. However, it is recognized worldwide
that real estate the market is influenced and shaped not only by economic and production factors,
but also by various qualitative ones characteristics of the natural and human environment in
which every real estate activity is carried out. Legal a framework that provides specifications and
constraints that should be followed in cases of proximity to cities greenery, water sources,
unusual topography and possible, future or past manifestations of nature disasters ensure the
importance of the above in the real estate market. In addition, quantitative assessment and the
results further reinforce their importance. The main objective of this study is to evaluate the
effect of the above parameters in the field of real estate through a detailed review of the literature
in both European and American areas. This study and its results make a compelling case for the
need for collaboration between all scientific sectors to satisfy all needs and include all
preferences, in order to develop the real estate market in a sustainable manner with regard to the
environment - an idea supported by most scientists and researchers in all branches of human
activity over the past decades.

Benjamin, J., Sirmans, S., & Zietz, E. (2001). Returns and risk on real estate and other
investments: more evidence. Journal of Real Estate Portfolio Management, 7(3), 183-214.

This study reviews the latest knowledge on real estate returns and organizes the reviews into five
categories: (1) risk and returns; (2) the benefits of portfolio diversification and optimization; (3)
returns on real estate versus other investments; (4) REITs; and (5) inflation and real estate
returns. Each study is annotated and the current findings are compared with the results of
previous studies. Real estate research expands on topics such as market efficiency, REITs, and
the power of macroeconomic variables in explaining and predicting real estate returns. Insights
into whether real estate provides diversification benefits, real estate returns versus other
investments, REIT profitability, and real estate as an inflation hedge are discussed.

67
Zhang, X. (2015). Green real estate development in China: State of art and prospect
agenda—A review. Renewable and Sustainable Energy Reviews, 47, 1-13.

Green real estate development is one of the measures implemented to reduce the negative
impacts of the construction industry on the environment, society and the economy. However, a
systematic review of this large number of studies is lacking, which is critical for future efforts.
This article summarizes the existing body of knowledge related to green development. First,
common research themes related to green real estate development were identified, including
concept, measure, business, and outcome. Then the connotation and designation of green real
estate development was presented in four dimensions. Third, the stakeholders of green real estate
development and their benefits and costs were explained. Subsequently, how to realize the
development of green real estate and their current weaknesses were analyzed from various points
of view. It was found that existing studies mainly focus on the environmental aspect of green
building, other sustainability dimensions of green building, especially social sustainability, are
largely overlooked. Future research opportunities were identified, such as innovation in
evaluation systems, integration of planning and design frameworks, governance mechanisms and
funding modalities, and future validation.

Weiss, M. A. (1989). Real estate history: an overview and research agenda. Business History
Review, 63(2), 241-282.

As perhaps the first comprehensive historiographical and bibliographic essay on real estate
history to be published, this essay casts a wide net, offering a literature review and suggestions
for research opportunities in the many and varied streams of academic endeavor flowing into this
new specialty. real estate history. Moving away from anecdotal personal and corporate
biographies, the field is maturing and expanding towards more sophisticated and analytical
studies that cross disciplines. The exhaustive analysis of traditional and innovative work
presented in the text is complemented by a selected bibliography of the publications discussed in
the articl

68
 Chapter -3
Research Methodology

Research methodology is a way to systematically solve the research problems. It guides the
researcher to do the research scientifically. It contains of different steps that are generally adopted
by a researcher to study his research problem along with the logic behind them. Data become
information only when a proper methodology is adopted. The research methodology includes the
logic behind the methods we use in the content of our research study.

69
Topic: A Study on Clients awareness with regards to Property Pistol Ltd. in Pune
Sample Size: 130.
Sampling Technique: Convenience sampling.
Research Design: Descriptive Research.
Source of Data: Primary data.

3.1 Research Objectives:

• To understand what factor makes client satisfied with the Property pistol.

• To study the effect of client satisfaction towards Property pistol.

• To analyze the client preference towards Property pistol.

• To analyze the Brand value of Property pistol from client point of view

3.2 Hypothesis:

• Ho1: There is no significant relationship between gender and level of lead Safety in Property
pistol?
• Ho2: There is no significant relationship between age Level of lead Safety in Property pistol?
• Ho3: There is no significant relationship between income and Level of lead Safety in Property
pistol?
• Ho4: There is no significant relationship between occupation and Level of lead Safety in
Property pistol?

3.3 RESEARCH DESIGN:

Research Design is the arrangement, structure, and technique of examination in order to acquire
answers to investigate questions and control differences. Research Design is the determination of
strategies and techniques for procuring the data required. Exploration Design is a point-by-point
diagram of how an examination will occur Descriptive research is used to identify the sale
through social media platforms A research design is the arrangement of conditions for the
collection and analysis of data in a manner that may result in an economy in procedure. It stands
for advance planning he collection of the relevant data and the techniques to be used in the
analysis, keeping in view the objective of the research availability of time.

70
 3.4 SAMPLE SIZE:
Sample Size is a count of individual observations required for specific research. The sample
chosen for the purpose of research was 130 Respondents. The study was done on 160
customers of the company of which effective responses were gathered from customers.
Therefore the sample size which was drawn was 130 out of 160.

3.5 SAMPLE SPACE:

Sampling space is the portrayal or deliberate posting of all components of the target
population. It comprises of a run-down of population individuals or certain limitations
putting heading to recognize target population.

3.6 SOURCE OF DATA:

Primary data: The researcher has collected the data through a Questionnaire and with the
client.

3.7 DATA COLLECTION METHOD:

The personal survey method will be used Through a Structured Questionnaire.

3.8 SAMPLING TECHNIQUES:

The sampling technique is divided into two probability sampling and non-probability
sampling. In this study Non-Probability Convenience Techniques are used.

71
 CHAPTER - 4
DATA ANALYSIS

72
Frequency Table

Gender
Cumulative
Frequency Percent Valid Percent Percent
Valid Male 70 53.8 53.8 53.8
Female 60 46.2 46.2 100
Total 130 100 100

Gender

Male
Female

Data Interpretation: Around 53.8% of males responded to the survey conducted which is
higher as compared to 46.2% of females.

73
Frequency Table

Age
Cumulative
Frequency Percent Valid Percent Percent
Valid 0-20 3 2.3 2.3 2.3
21-40 99 76.2 76.2 78.5
41-60 27 20.8 20.8 99.2
61 & Above 1 0.8 0.8 100
Total 130 100 100

Age

0-20
21-40
41-60
61 & Above

Data Interpretation: The age between 21-40 have expressed more responses to the survey
conducted.

74
Frequency Table

Education
Cumulative
Frequency Percent Valid Percent Percent
Valid Undergraduate 17 13.1 13.1 13.1
Postgraduate/Master 86 66.2 66.2 79.2
Doctorate 9 6.9 6.9 86.2
Others 18 13.8 13.8 100
Total 130 100 100

Undergraduate
Postgraduate/Master
Doctorate
Others

Data Interpretation: In terms of education, a large number of populations have competed

for their post-graduation (66.2%) with only 6.9% of them with a doctorate and others
(13.8%)

75
Frequency Table

Profession
Cumulative
Frequency Percent Valid Percent Percent
Valid Student 22 16.9 16.9 16.9
Service 59 45.4 45.4 62.3
Business 21 16.2 16.2 78.5
Self-Employed 16 12.3 12.3 90.8
Homemaker 9 6.9 6.9 97.7
Others 3 2.3 2.3 100
Total 130 100 100

Profession

Student
Service
Business
Self-Employed
Homemaker
Others

Data Interpretation: The population involved was also classified in terms of profession,
where 45.4% are service people, 16.2% have their own business, 12.3% are self-employed
while the majority of them fall into student, homemaker & others category.

76
Frequency Table

Marital Status
Cumulative
Frequency Percent Valid Percent Percent
Valid Married 55 42.3 42.3 42.3
Unmarried 75 57.7 57.7 100
Total 130 100 100

Marital_Status

Married
Unmarried

Data Interpretation: As per the survey conducted 42.3% respondents are married and
57.7% are unmarried

77
Frequency Table

Family Income Per Annum

Cumulative
Frequency Percent Valid Percent Percent
Valid Upto 2.5 lacs 18 13.8 13.8 13.8
2.5 - 5 lacs 25 19.2 19.2 33.1
5 - 10 lacs 45 34.6 34.6 67.7
10 lacs & Above 42 32.3 32.3 100
Total 130 100 100

Family Income Per Annum

Upto 2.5 lacs

2.5 - 5 lacs
5 - 10 lacs
10 lacs & Above

Data Interpretation: As per the survey conducted 34.6% respondents have their income per
annum between 5-10 lacs and 32.3% with 10 lacs & above.

78
Frequency Table

To what extent you are satisfied with the Property pistol mandate Projects?
Cumulative
Frequency Percent Valid Percent Percent
Valid Highly Unsatisfied 1 0.8 0.8 0.8
Unsatisfied 4 3.1 3.1 3.8
Neutral 29 22.3 22.3 26.2
Satisfied 47 36.2 36.2 62.3
Highly Satisfied 49 37.7 37.7 100
Total 130 100 100

To what extent you are satisfied with the Property pistol

mandate Projects?

"Highly Unsatisfied"
"Unsatisfied"
"Neutral"
"Satisfied"
"Highly Satisfied"

Data Interpretation: As per the survey conducted 37.7 % respondents are highly satisfied
and only 3.1% respondents are highly unsatisfied with the mandate projects of Property
pistol.

79
 Frequency Table

How Satisfied are you with the fund(brokerage) payout process following your
customer's purchase of a property?
Cumulative
Frequency Percent Valid Percent Percent
Valid Highly Unsatisfied 2 1.5 1.5 1.5
Neutral 18 13.8 13.8 15.4
Satisfied 59 45.4 45.4 60.8
Highly Satisfied 51 39.2 39.2 100
Total 130 100 100

How Satisfied are you with the fund(brokerage) payout process following your customer's
purchase of a property?

"Highly Unsatisfied"
"Neutral"
"Satisfied"
"Highly Satisfied"

Data Interpretation: As per the survey conducted 45.4 % of respondents are highly
satisfied and only 1.5% of respondents are highly unsatisfied with the fund payout
process of Property pistol.

80
Frequency Table

How Satisfied are you with your lead qualification after empanelment with property pistol?
Cumulative
Frequency Percent Valid Percent Percent
Valid Highly Unsatisfied 2 1.5 1.5 1.5
Unsatisfied 2 1.5 1.5 3.1
Neutral 27 20.8 20.8 23.8
Satisfied 53 40.8 40.8 64.6
Highly Satisfied 46 35.4 35.4 100
Total 130 100 100

How Satisfied are you with your lead qualification after empanelment with property pistol?

"Highly Unsatisfied"
"Unsatisfied"
"Neutral"
"Satisfied"
"Highly Satisfied"

Data Interpretation: As per the survey conducted 40.8% of respondents are satisfied and
only 1.5% of respondents are highly unsatisfied with the Lead qualification after
empanelment with property pistol.

81
Frequency Table

Rate the Satisfaction level according to your expectation with Property Pistol?
Frequency Percent Valid Percent Cumulative Percent
Valid Highly Unsatisfied 1 0.8 0.8 0.8
Unsatisfied 1 0.8 0.8 1.5
Neutral 24 18.5 18.5 20
Satisfied 54 41.5 41.5 61.5
Highly Satisfied 50 38.5 38.5 100
Total 130 100 100

Rate the Satisfaction level according to your expectation with

Property Pistol?

"Highly Unsatisfied"
"Unsatisfied"
"Neutral"
"Satisfied"
"Highly Satisfied"

Data Interpretation: As per the survey conducted 41.5 % of respondents are satisfied and
only % 0.8 of respondents are highly unsatisfied.

82
Frequency Table

To what extent you are satisfied with the Quality of Service at Property pistol Provides?
Frequency Percent Valid Percent Cumulative Percent
Valid Highly Unsatisfied 1 0.8 0.8 0.8
Unsatisfied 3 2.3 2.3 3.1
Neutral 23 17.7 17.7 20.8
Satisfied 57 43.8 43.8 64.6
Highly Satisfied 46 35.4 35.4 100
Total 130 100 100

To what extent you are satisfied with the Quality of

Service Property pistol Provides?

"Highly Unsatisfied"
"Unsatisfied"
"Neutral"
"Satisfied"
"Highly Satisfied"

Data Interpretation: As per the survey conducted 43.8 % of respondents are satisfied and
only % & 2.3% of respondents are unsatisfied with the Quality of Service at Property pistol
Provides.

83
Frequency Table

Do you believe ads are more impactful in campaign?

Frequency Percent Valid Percent Cumulative Percent
Valid Very High 34 26.2 26.2 26.2
High 63 48.5 48.5 74.6
Neutral 26 20 20 94.6
Low 4 3.1 3.1 97.7
Very Low 3 2.3 2.3 100
Total 130 100 100

Do you believe ads are more impactful in campaign?

"Very High"
"High"
"Neutral"
"Low"
"Very Low"

Data Interpretation: As per the survey conducted 74.7 % of respondents are believed ads
are more impactful in campaign.

84
 Frequency Table

How satisfied are you with your relationship manager?

Valid Cumulative
Frequency Percent Percent Percent
Valid Very Dissatisfied 33 25.4 25.4 25.4
Dissatisfied 52 40 40 65.4
Neutral 40 30.8 30.8 96.2
Satisfied 4 3.1 3.1 99.2
Very Satisfied 1 0.8 0.8 100
Total 130 100 100

How satisfied are you with your relationship manager?

"Very Dissatisfied"
" Dissatisfied"
"Neutral

"Satisfied"
"Very satisfied"

Data Interpretation: As per the survey conducted 40 % of respondents are Dissatisfied and
only & 3.1% of respondents are very dissatisfied with the facilities provided by Property
pistol.

85
Frequency Table

What is your satisfaction level with the empanelment Price Charged by Property
pistol
Frequency Percent Valid Percent Cumulative Percent
Valid Very High 32 24.6 24.6 24.6
High 42 32.3 32.3 56.9
Neutral 46 35.4 35.4 92.3
Low 7 5.4 5.4 97.7
Very Low 3 2.3 2.3 100
Total 130 100 100

What is your satisfaction level with the empanelment Price

Charged by property pistol

"Very High"
"High"
"Neutral"
"Low"
"Very Low"

Data Interpretation: As per the survey conducted 32.3% of respondents are showing high
level of satisfaction & 2.3% of respondents are showing very low satisfaction with
empanelment Price Charged by Property pistol.

86
Frequency Table

To what extent do you evaluate the Level of lead Safety in Property

pistol?
Frequency Percent Valid Percent Cumulative Percent
Valid Very High 35 26.9 26.9 26.9
High 45 34.6 34.6 61.5
Neutral 44 33.8 33.8 95.4
Low 4 3.1 3.1 98.5
Very Low 2 1.5 1.5 100
Total 130 100 100

To what extent do you evaluate the Level of lead Safety in

property pistol

"Very High"
"High"
"Neutral"
"Low"
"Very Low"

Data Interpretation: As per the survey conducted 34.6% of respondents are showing high
level of lead safety & 1.5% of respondents are showing very low satisfaction with Level of
lead Safety in Property pistol.

87
Frequency Table

How user-friendly do you think the syndicate member app is?

Valid
Frequency Percent Percent Cumulative Percent
Valid Very inconvenient 47 36.2 36.2 36.2
inconvenient 55 42.3 42.3 78.5
Neutral 24 18.5 18.5 96.9
convenient 2 1.5 1.5 98.5
Very convenient 2 1.5 1.5 100
Total 130 100 100

How user-friendly do you think the syndicate member app is?

Very inconvenient

Inconvenient

Neutral

Convenient

Very convenient

Data Interpretation: As per the survey conducted 42.3 % of respondents are

inconvenient and only & 1.5% of respondents are convenient.

88
 Hypotheses Analysis (One Way Anova)

Ho1: There is no significant relationship between gender and Level of lead Safety in
Property pistol?

ANOVA
Gender
Sum of Squares df Mean Square F Sig.
Between Groups 0.49 3 0.163 0.647 0.586
Within Groups 31.818 126 0.253
Total 32.308 129

INTERPRETATION:

 In this case, the Gender and level of lead safety in property pistol were taken to
be our two variables whose interdependency is supposed to be tested. Hence
one-way ANOVA test for the same purpose was done. Where it was found out
that the ANOVA value was greater than the value of p. Since the value of p
that is 0.586 is greater than 0.05, there is a significant association between the
two variables.

 Therefore, the null hypothesis is failed to reject itself, which says that there is a
significant association between Profession and consumer satisfaction towards
Property pistol.

89
Ho2: There is no significant relationship between age Level of lead Safety in Property
pistol?

ANOVA
Age
Sum of Squares df Mean Square F Sig.
Between Groups 2.395 3 0.798 3.81 0.012
Within Groups 26.405 126 0.21
Total 28.8 129

INTERPRETATION:

 In this case, the age and level of lead safety in property pistol were taken to be
our two variables whose interdependency is supposed to be tested. Hence one-
way ANOVA test for the same purpose was done. Where it was found out that
the ANOVA value was lower than the value of p. Since the value of p that is
0.012 is lower than 0.05, there is no significant association between the two
variables.

 Therefore, the null hypothesis is failed to accept itself, which says that there is no
significant association between the age and consumer satisfaction towards
Property pistol

90
Ho3: There is no significant relationship between income and Level of lead Safety in
Property pistol?

ANOVA
Family Income Per Annum
Sum of Squares df Mean Square F Sig.
Between Groups 11.913 4 2.978 2.995 0.021
Within Groups 124.31 125 0.994
Total 136.223 129

INTERPRETATION:

 In this case, the Family Income Per Annum and level of lead safety in property
pistol were taken to be our two variables whose interdependency is supposed to
be tested. Hence one-way ANOVA test for the same purpose was done. Where it
was found out that the ANOVA value was lower than the value of
p. Since the value of p that is 0.021 is lower than 0.05, there is no significant
association between the two variables.

 Therefore, the null hypothesis is failed to accept itself, which says that there is no
significant association between the Family Income Per Annum and consumer
satisfaction towards Property pistol

91
Ho4: There is no significant relationship between occupation and Level of lead Safety in
Property pistol?

ANOVA
Profession
Sum of Squares df Mean Square F Sig.
Between Groups 7.124 4 1.781 1.164 0.33
Within Groups 191.184 125 1.529
Total 198.308 129

INTERPRETATION:

 In this case, the Profession and level of lead safety in property pistol were taken to
be our two variables whose interdependency is supposed to be tested. Hence one-
way ANOVA test for the same purpose was done. Where it was found out that the
ANOVA value was greater than the value of p. Since the value of p that is 0.33 is
greater than 0.05, there is a significant association between the two variables.

 Therefore, the null hypothesis is failed to reject itself, which says that there is a
significant association between Profession and consumer satisfaction towards
Property pistol.

92
 Findings

 Throughout this survey we can see that the male responded more i.e., 53.8% to the
survey as compared to females i.e., 46.2%.
 As per the survey conducted 32.3% of respondents are showing high level of
satisfaction & 2.3% of respondents are showing very low satisfaction with
empanelment Price Charged by Property pistol.
 From this survey, we can see that mostly Business and Service broker are more
satisfied and have empanelment with property pistol.
 The trust towards property pistol is impactful and the loyalty attracts the customers
to invest in property pistol.
 We can also see that most people belong to ages 21- 40 who have empanelment and
are satisfied with Property pistol which indicates they have more interest in
properties that will enable them to improve their wealth in keeping the future in their
mind.
 Property pistol as a brand in real estate satisfies clients and their satisfaction with
Property pistol increases.
 Almost 45% are very much into investing in properties which shows the growth in the
real estate sector in India.
 The company had presence out of pune also which was really attractive and it
has attracted a lot of channel partners.

93
 Conclusion

From the above research and findings, it can be concluded that:

 Communication: The possibility of miscommunication is very high on telephonic communication.

 Property pistol can explore more localities with respect to the price.

 Property pistol as a brand in real estate satisfies consumers to purchase it.

 Some Channel partners are not satisfied with the price charged by Property pistol.

 Channel partners are satisfied with the facilities provided by Property pistol

 Property pistol has more channel partners who have their own business and service in their
profession.

 Property pistol have its channel partners all over India and is satisfying the needs of channel
partners up to the mark.
 Property pistol has its policy of dealing in only white payments.

94
 Recommendations

• The company must expand their Resale Team and promotional activities for tapping
the market more efficiently.
• The company must also market and advertise about the portal service inorder to stand up
front with competition.
• The company should expand there lead management staff.

• The company can also focus into dealing in small sole selling projects in order
effectively utilize Sales Team.
• The company should focus in maintaining relationship with their Syndicate brokers
for smooth working

95
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99
Questionnaire

100
 Section -A

Q1 E-mail ID:

Q2 Gender

 Male
 Female

Q3Age

 0-20
 21-40
 41-60
 61 & Above

Q4 Education

 SSC
 Undergraduate
 Postgraduate
 Doctorate
 Others

Q5 Marital Status

 Married
 Unmarried

101
Q5 Profession

 Student
 Service
 Business
 Self-Employed
 Homemaker
 Others

Q6 Family Income (Per Annum)

 Upto 2.5 lacs

 2.5 - 5 lacs
 5 - 10 lacs
 10 lacs & Above

102
 Section -B

Q1 To what extent you are satisfied with the Property pistol mandate Projects?

 Highly Unsatisfied
 Unsatisfied
 Neutral
 Satisfied
 Highly Satisfied

Q.2 How Satisfied are you with the fund(brokerage) payout process following your
customer's purchase of a property?

 Highly Unsatisfied
 Unsatisfied
 Neutral
 Satisfied
 Highly Satisfied

Q.3 How Satisfied are you with your lead qualification after empanelment with property pistol?

 Highly Unsatisfied
 Unsatisfied
 Neutral
 Satisfied
 Highly Satisfied

Q4 Rate the Satisfaction level according to your expectation with Property Pistol?

 Highly Unsatisfied
 Unsatisfied
 Neutral
 Satisfied
 Highly Satisfied

103
Q5 To what extent you are satisfied with the Quality of Service at Property pistol Provides?

 Highly Unsatisfied
 Unsatisfied
 Neutral
 Satisfied
 Highly Satisfied

Q.6 Do you believe ads are more impactful in campaign?

 Very High
 High
 Neutral
 Low
 Very Low

Q7 How satisfied are you with your relationship manager?

 Very Dissatisfied
 Somewhat Dissatisfied
 Neutral
 Satisfied
 Very Satisfied

Q.8 What is your satisfaction level with the empanelment Price Charged by Property pistol

 Very High
 High
 Neutral
 Low
 Very Low

104
Q9 To what extent do you evaluate the Level of lead Safety in Property pistol

 Very High
 High
 Neutral
 Low
 Very Low

Q.10 How user-friendly do you think the syndicate member app is?
 Very Inconvenient
 Inconvenient
 Neutral
 Convenient
 Very Convenient

105
Plagiarism Scan Report

106
107
108