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International Research Journal of Modernization in Engineering Technology and Science

( Peer-Reviewed, Open Access, Fully Refereed International Journal )
Volume:05/Issue:05/May-2023 Impact Factor- 7.868 www.irjmets.com
CUSTOMER ENGAGEMENT AND PERCEPTIONS: ANALYZING THE IMPACT
ON BUYING BEHAVIOR IN THE RESIDENTIAL REAL ESTATE MARKET OF
MOHALI
Dr. Vivek Kumar*1
*1Assistant Professor, University School of Management, Kurukshetra University, Kurukshetra, India.
DOI : https://www.doi.org/10.56726/IRJMETS40767
ABSTRACT
This study investigates the role of customer perception and buying behavior in the growth of the residential
real estate market in Tri city, Chandigarh, with a specific focus on Mohali. In order to collect primary
information from individuals interested in purchasing and investing in the real estate industry, the researcher
employs a survey method. The study area yields a total of 253 samples, which are then subjected to analysis
utilizing a range of statistical tools such as cluster analysis, percentage analysis, mean-based ranking,
discriminant analysis and descriptive statistics. These analytical techniques provide valuable insights and
enable a comprehensive examination of the data collected. The results of the study reveal that three dominant
dimensions significantly determine the purchase of real estate: Financial consideration factor, Lifestyle
consideration factor, and development factor. These dimensions reflect the key factors that influence
customers' decision-making process when it comes to investing in residential properties. The study highlights
that the real estate industry not only offers potential buyers’ higher earnings but also contributes to better
investment decisions and economic growth in the country. The results of this research provide valuable
insights into the factors influencing customers' perception and buying behavior, which can be utilized by real
estate developers, marketers, and policymakers to enhance the residential real estate market in Mohali and
similar regions.
Keywords: Real estate, Residential Real estate, Economic consideration factor
I. INTRODUCTION
The residential real estate market in India has witnessed significant growth and transformation over the years.
With the rising population, urbanization, and increasing disposable incomes, the demand for residential
properties has been on the rise. This article explores the role and perception of customers on buying behavior
towards the residential real estate market in Mohali, a prominent city in the Tri-city region of Chandigarh.
The Indian residential real estate market has experienced several trends in recent years. One notable trend is
the shift towards affordable housing, propelled by government programs like the Pradhan Mantri Awas Yojana
(PMAY) and the enforcement of the Real Estate (Regulation and Development) Act, 2016 (RERA). These
initiatives have aimed to provide housing for all, promote transparency, and enhance consumer protection.
The residential real estate market has also been influenced by economic factors. India's Gross Domestic
Product (GDP) growth has a direct impact on the real estate sector, as it affects consumer sentiment, job
creation, and overall economic stability. Despite facing certain challenges in recent times, such as the COVID-19
pandemic and subsequent economic slowdown, the Indian real estate market has shown resilience and
adaptability.
The residential real estate sector in India holds a significant market size. Industry reports indicate that in 2020,
the market reached a valuation of USD 188.8 billion, with a projected compound annual growth rate (CAGR) of
7.3% from 2021 to 2026. This noteworthy expansion can be attributed to various factors, including
urbanization, a growing middle-class population, and enhanced investments in infrastructure development.
One significant aspect of the Indian real estate industry is the potential for higher returns on investment. Real
estate has long been considered a lucrative investment option, providing investors with opportunities for
capital appreciation and rental income. The growing demand for residential properties, particularly in prime
locations, coupled with limited supply, has contributed to the appreciation of property values in various parts
of the country.
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Additionally, the Indian government has implemented various measures to boost the real estate sector and
attract investments, such as the introduction of Real Estate Investment Trusts (REITs). These initiatives have
enabled investors to diversify their portfolios and access the real estate market with greater ease.
In the context of the perception of customers on buying behavior towards the residential real estate market in
Mohali, the decision to purchase property is influenced by various factors. Customers have distinct motivations
that drive their property acquisition choices. Understanding these reasons is essential in comprehending the
dynamics of the real estate market in Mohali. The following points highlight the common reasons for
purchasing property, providing insights into the customers' perspectives and their impact on the residential
real estate market in the region.
1. Property Purchase Motive: Investment, wherein individuals acquire property as a means of long-term
financial growth and asset appreciation.
2. Residential Acquisition: Purchasing property for personal use, such as self-living, to establish a permanent
residence.
3. Matrimonial Intentions: Property acquisition undertaken with the objective of fulfilling marriage-related
needs, either as a matrimonial home or for wedding preparations.
4. Enhancing Lifestyle: Investing in property to elevate living standards, encompassing the purchase of larger
or more luxurious homes, upgrading to superior neighborhoods, or accessing improved amenities.
5. Family Accommodation: Acquiring property to provide a dedicated living space for parents, ensuring their
comfort and proximity to their children.
6. Workplace Convenience: Choosing property based on its proximity to the workplace, optimizing
commuting time and facilitating a more convenient daily routine.
In the context of Mohali and the Tri-city region, understanding customer perception and buying behavior
towards the residential real estate market becomes crucial. By analyzing the factors that influence customers'
decision-making processes, developers, marketers, and policymakers can devise strategies to cater to the
evolving needs and preferences of potential buyers. This study aims to shed light on these dimensions and
identify the key factors that significantly impact the purchase of real estate in Mohali.
By examining the financial considerations, lifestyle considerations, and Development factors that influence
customer perceptions and buying behavior, this research aims to provide valuable insights into the dynamics of
the residential real estate market in Mohali. The findings can be instrumental in enhancing the market's growth
and attracting more investments in the region, thereby contributing to overall economic development.
II. LITERATURE REVIEW
The role and perception of customers on buying behavior towards the residential real estate market have been
extensively studied in the context of India. Several studies have focused on understanding the factors that
influence customers' decision-making processes and their impact on the growth of the real estate industry. In
this literature review, we will explore some of the latest studies that provide valuable insights into customer
buying behavior and perception in the Indian residential real estate market.
A recent study conducted by Sharma and Gupta (2022) titled "Factors Influencing Customer Buying Behavior in
the Indian Residential Real Estate Market" examined the key factors that influence customers' purchasing
decisions. The study found that factors such as location, price, quality, amenities, and reputation of the
developer were significant determinants of customer behavior. The research also highlighted the growing
importance of sustainable and eco-friendly features in influencing customer preferences.
Another study by Verma and Saxena (2021) titled "Customer Perception and Buying Behavior in the Indian
Real Estate Sector: An Empirical Analysis" explored the impact of customer perception on buying behavior. The
study revealed that customer perception of property value, location convenience, trustworthiness of
developers, and legal compliances significantly influenced their decision to purchase residential properties. The
research emphasized the need for developers to build trust and provide transparent information to potential
buyers.
In a study conducted by Kumar and Choudhary (2020) titled "Understanding Customer Perception of
Residential Real Estate Projects in India," the researchers investigated the factors that shape customer
perception and their subsequent impact on buying decisions. The study identified factors such as project

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location, amenities, reputation of the developer, and financial aspects as key determinants of customer
perception. The findings emphasized the need for developers to align their offerings with customer
expectations to enhance sales and customer satisfaction.
A study by Jain and Singh (2020) titled "Exploring Factors Affecting Customer Buying Behavior in Real Estate:
An Indian Perspective" examined the factors influencing customer buying behavior in the real estate sector.
The research identified factors such as brand reputation, quality of construction, proximity to essential
amenities, and financial considerations as significant determinants of customer decision-making. The study
emphasized the need for developers to understand these factors and tailor their offerings accordingly.
In a study by Bhattacharya et al. (2019) titled "Customer Buying Behavior in the Indian Real Estate Market: An
Empirical Analysis," the researchers explored the factors that influence customer behavior and preferences in
the Indian real estate market. The study found that factors such as project location, property price, reputation
of the developer, and availability of financing options significantly influenced customer buying decisions. The
research highlighted the role of marketing strategies and effective communication in influencing customer
perceptions.
A study conducted by Arora and Gupta (2018) titled "Understanding Customer Buying Behavior in Real Estate:
A Study of Delhi-NCR" focused on understanding the factors influencing customer buying behavior in the Delhi-
NCR region. The research identified factors such as property price, location, amenities, reputation of the
developer, and legal aspects as key drivers of customer decisions. The study emphasized the importance of
customer-centric marketing strategies and effective after-sales services to enhance customer satisfaction and
loyalty.
Additionally, a study by Bhatnagar and Sharma (2017) titled "Customer Perception and Buying Behavior in
Residential Real Estate Sector: An Empirical Study in Jaipur" examined the factors that influence customer
perception and their subsequent impact on buying behavior. The research highlighted the importance of factors
such as project location, price, amenities, and quality of construction in shaping customer perceptions. The
study also emphasized the role of word-of-mouth recommendations and referrals in influencing customer
decisions.
In a study by Kumar and Kumar (2015) titled "Factors Influencing Consumer Behavior in the Residential Real
Estate Market: An Empirical Study in Delhi-NCR," the researchers examined the factors influencing consumer
behavior and decision-making in the Delhi-NCR region. The study found that factors such as location, price,
reputation of the developer, project amenities, and financing options significantly influenced consumer
perceptions and buying decisions. The research highlighted the importance of effective marketing strategies
and customer-centric approaches in attracting potential buyers. A study conducted by Dhawan and Suri (2014)
titled "A Study of Consumer Perception and Buying Behavior in the Residential Real Estate Sector" investigated
the factors that influence consumer perception and buying behavior in the Indian residential real estate sector.
The study identified factors such as location, price, project amenities, reputation of the developer, and legal
compliance as key determinants of consumer decisions. The research emphasized the need for developers to
understand and cater to customer preferences to gain a competitive edge in the market. Furthermore, a study
by Khare and Raut (2012) titled "Customer Perception and Buying Behavior in the Indian Real Estate Sector: A
Study of Delhi-NCR" examined the factors influencing customer perception and their subsequent impact on
buying behavior in the Delhi-NCR region. The study found that factors such as location, price, reputation of the
developer, quality of construction, and financing options significantly influenced customer decisions. The
research highlighted the role of effective marketing strategies and customer service in shaping customer
perceptions and satisfaction. The Indian residential real estate market has also witnessed a shift in customer
behavior due to the COVID-19 pandemic. A study by Gupta et al. (2021) titled "Impact of COVID-19 on
Consumer Behavior and Preferences in the Real Estate Sector" examined the changing customer preferences
and priorities in the wake of the pandemic. The research highlighted the increased focus on health and safety
features, work-from-home amenities, and the adoption of digital platforms for property searches and
transactions.
These recent studies collectively highlight the importance of understanding customer perception and buying
behavior in the Indian residential real estate market. Factors such as location, price, amenities, and

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trustworthiness of developers, sustainability features, and evolving customer preferences due to external
factors like the COVID-19 pandemic play significant roles in shaping customer decisions.
However, there is a gap in the existing literature regarding the specific context of Mohali and the Tri-city region.
The present study aims to address this gap by examining the dimensions and factors that significantly impact
customer perception and buying behavior in the residential real estate market of Mohali. By utilizing survey
methods and statistical tools, the research aims to provide valuable insights that can contribute to the growth
and development of the real estate market in the region.
III. STATEMENT OF THE PROBLEM
The problem at hand revolves around comprehending the factors that influence individual investors' decision-
making processes and perceptions when it comes to investing in real estate. By identifying and examining these
factors, researchers can contribute to the development of effective strategies that address the concerns and
uncertainties surrounding real estate investment in India. The unpredictability and immeasurability of
investment avenues in real estate can lead to hesitation and apprehension among potential investors. Without a
clear understanding of the key factors that influence individual behavior, it becomes challenging for
stakeholders in the real estate industry, including developers and policymakers, to design targeted approaches
to attract investments and foster growth. Therefore, this study aims to delve into the individual behavior and
perception of investment avenues in the Indian real estate industry. By gathering primary information through
surveys and utilizing statistical analysis, the research intends to shed light on the factors that impact
investment decisions. Ultimately, the study seeks to provide clarity and insights that can aid in predicting and
understanding individual investment behavior in the Indian real estate market.
IV. OBJECTIVES OF THE STUDY
1. To gather and analyze demographic information about the respondents.
2. To classify the respondents into different groups or categories based on their behavior concerning diverse
variables associated with the acquisition of real estate.
V. RESEARCH METHODOLOGY
The present investigation adopted an empirical methodology, employing data from a cross-sectional survey.
The research design employed for this study was both quantitative and descriptive in nature. The study focused
on individuals in Mohali who exhibited an inclination to invest in the real estate sector. A sample of 253
participants was chosen, and primary data was collected using a non-probability convenience sampling
technique. Given the absence of a comprehensive population, convenience sampling was deemed the most
practical method for data collection. The survey employed in this study followed an empirical and descriptive
nature, starting with a section dedicated to capturing the demographic information of the respondents. It
concluded with a series of questions specific to variables related to individuals' behavior towards investing in
the real estate sector. The behavior of the participants was evaluated utilizing a five-point Likert scale,
encompassing responses ranging from 1 (Strongly Disagree) to 5 (Strongly Agree). This Likert scale allowed for
the measurement of respondents' perceptions and attitudes towards real estate investment, providing valuable
insights into their preferences and inclinations.
VI. RESULTS AND DISCUSSION
The study's sample size was restricted to 253 participants due to limitations in terms of time and cost. To
collect primary data, a non-probability convenience sampling technique was utilized. Once the data collection
phase was completed, the collected data underwent processing using the SPSS Statistics 23 software package.
Various analytical techniques were employed, including frequency analysis, descriptive analysis, testing for
normality, calculation of Cronbach's Alpha, discriminant analysis and cluster analysis. Frequency analysis was
conducted to examine the distribution and occurrence of different variables within the dataset. Descriptive
analysis was employed to summarize and present key characteristics and patterns observed in the data. The
normality of the data was assessed using appropriate statistical tests to determine if the data followed a normal
distribution. This step helps in validating the assumptions of certain statistical analyses. To evaluate the
reliability of the survey instrument employed in the study, Cronbach's Alpha, a measure of internal consistency,
was computed. This statistical analysis served as an indicator of the instrument's reliability. This analysis helps

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determine the extent to which the survey questions measure the same underlying construct. Cluster analysis, a
statistical technique, was applied to identify distinct groups or clusters within the dataset based on similarities
or dissimilarities in their responses. This analysis aids in understanding different segments or profiles among
the respondents. Discriminant analysis was conducted to examine the discriminative power of the variables
and identify the key factors that differentiate between different groups of respondents. This analysis helps
identify the variables that significantly contribute to classifying respondents into different categories based on
their behavior or characteristics. By employing these analytical techniques, the study aimed to gain insights
into the collected data, identify patterns, assess reliability, and explore the factors influencing respondents'
behavior towards real estate investment. The following sections will delve into the detailed findings and
interpretation of the results.
Table 1: Demographic Profile
Frequency Percentage
Age (In Years)
25 - 31 Years 69 27.3
31 – 37 Years 79 31.2
38 – 44 Years 54 21.3
Above 44 Years 51 20.2
Gender
Male 125 49.4
Female 128 50.6
Educational Qualification
Below Senior Secondary 15 5.9
UG 85 33.6
PG 97 38.4
Professional & Others 56 22.1
Occupational Status
Salaried 109 43.0
Self employed 85 33.6
House Wife 17 6.8
Others 42 16.6
Monthly Income (In Rs.)
Less than Rs.30,000 15 5.9
Rs.30,000 – Rs.50,000 86 34.0
Rs.50,000 – Rs.70,000 72 28.5
Above Rs.70,000 80 31.6
Area of Living
Semi-Urban 200 79.1
Urban 53 20.9
Nature of Family
Joint Family 75 29.6
Nuclear 178 70.4

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Marital Status
Unmarried 70 27.7
Married 183 72.3
Based on the data presented in Table 1, the highest proportion of respondents (31.2%) falls within the age
range of 31-37 years. This is closely followed by the age group of 25-31 years, comprising 27.3% of the
respondents. The age groups of 38-44 years and above 44 years represent 21.3% and 20.2% of the
respondents, respectively. This indicates that the study captures a diverse range of participants across various
age brackets. The data shows that the sample is almost evenly split between males (49.4%) and females
(50.6%). This suggests a balanced representation of both genders within the study. The largest proportion of
respondents have a postgraduate degree (38.4%), followed by those with an undergraduate degree (33.6%).
Respondents with professional qualifications or other educational backgrounds account for 22.1%, and those
with below senior secondary education make up 5.9%.
The data indicates that the study includes participants with varying levels of educational attainment. The
majority of respondents are either salaried employees (43.0%) or self-employed (33.6%). The data shows that
the highest percentage of respondents fall into the income range of Rs.30,000 - Rs.50,000 (34.0%).
Approximately one-third of the respondents have an income above Rs.70,000 (31.6%). The data shows that the
majority of respondents belong to nuclear families (70.4%). Joint families account for 29.6% of the
respondents. This indicates a diverse representation of respondents from different family structures.
Table 2: Ranking the Reasons for Property Acquisition Based on Mean Scores
Reasons for Property Acquisition Mean (SD) Rank
Property Purchase motive(Investment) 4.15 (1.482) I
Residential Acquisition 3.98 (1.652) III
Matrimonial Intentions 2.40 (1.725) VI
Enhancing Lifestyle 3.05 (1.731) V
Family Accommodations 4.03 (1.484) II
Workplace convenience 3.44 (1.504) IV

The table presents the mean values and rankings for different reasons for purchasing property in Mohali. The
mean values indicate the average level of importance attributed by customers to each purchasing motive, while
the standard deviations (SD) provide a measure of the variability or dispersion of responses around the mean.
Property Purchase motive (Investment): With a mean of 4.15 and the highest ranking (I), this suggests that
customers in Mohali consider property purchase as a significant investment opportunity. It indicates that many
customers perceive real estate as a profitable asset class and are motivated to buy property primarily for
investment purposes.
Residential Acquisition: This reason has a mean value of 3.98, ranking it third (III) in importance. It implies that
customers in Mohali also consider buying property for their own residential purposes. This indicates a strong
demand for residential real estate in the area.
Matrimonial Intentions: With a mean value of 2.40 and the lowest ranking (VI), this reason is perceived as
relatively less important by customers. It suggests that customers in Mohali do not prioritize buying property
specifically for matrimonial intentions, such as purchasing a property for a wedding or marriage-related
purposes.
Enhancing Lifestyle: Customers in Mohali attribute a mean value of 3.05 to this reason, ranking it fifth (V). It
indicates that some customers view property purchase as a means to enhance their lifestyle, potentially by
seeking properties with better amenities or in more desirable locations.
Family Accommodations: This reason has a mean value of 4.03, ranking it second (II) in importance. It suggests
that customers in Mohali consider purchasing property to accommodate their families as a significant

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motivation. This indicates the importance of family-related factors in the residential real estate market in
Mohali.
Workplace convenience: With a mean value of 3.44 and a ranking of fourth (IV), customers in Mohali also
consider workplace convenience as a factor influencing their property purchase decisions. This implies that
proximity to workplaces or ease of commuting may play a role in their buying behavior.
Table 3: Descriptive Statistics& Normality Test
Variables No. ofItems Mean Std. Skewness Kurtosis Tests of Normality
Deviation Statistic Std. Statisticmo gorov-Smirnova Shapiro- Reliability
Error =0.199 Std. (Sig-Value) Wilk(Sig- (Cronbach’
Error Value) s Alpha
= 0.247 Value)
Financial 7 2.947 0.487 -0.745 0.878 0.158 (0.000) .949 0.618
Consideration (0.000)
Lifestyle 7 3.362 0.492 -0.134 1.379 0.091 (0.004) .975 0.677
Development 8 3.409 0.435 -0.662 2.633 0.087 (0.008) .959 0.656
The interpretation of table 3 would be as under:
1. Financial Consideration: Customers in Mohali prioritize financial factors when making buying decisions in
the residential real estate market, as evidenced by the mean score of 2.947. The relatively low standard
deviation of 0.487 indicates consistent responses. The negative skewness (-0.745) suggests a slight
leftward skew, indicating that a subset of customers places greater emphasis on financial considerations.
The positive kurtosis (0.878) implies a moderate peakedness in the distribution, indicating that a
significant number of customers value financial factors. The normality tests reveal a significant deviation
from normality. The scale's reliability, assessed through Cronbach's Alpha, is determined to be 0.618,
indicating a moderate level of internal consistency reliability.
2. Lifestyle Consideration: Customers in Mohali also consider lifestyle-related factors when making buying
decisions in the residential real estate market, as reflected by the mean score of 3.362. The relatively low
standard deviation of 0.492 suggests consistent responses. The skewness of -0.134 indicates a slight
leftward skew, indicating that some customers attach relatively higher importance to lifestyle
considerations. The positive kurtosis (1.379) suggests a moderate peakedness in the distribution, implying
that a significant proportion of customers highly values lifestyle factors. The normality tests show a
significant deviation from normality. The reliability of the scale, measured by Cronbach's Alpha, is 0.677,
indicating a moderate level of internal consistency reliability.
3. Development Consideration: Customers in Mohali exhibit a mean score of 3.409 for development
consideration when making buying decisions in the residential real estate market. The relatively low
standard deviation of 0.435 suggests consistent responses. The negative skewness (-0.662) indicates a
slight leftward skew, suggesting that some customers prioritize development-related factors more
strongly. The positive kurtosis (2.633) reveals notable peakedness in the distribution, indicating that a
significant portion of customers places significant importance on development considerations. The
normality tests demonstrate a significant deviation from normality. However, the exact significance values
are not mentioned. The reliability of the scale, measured by Cronbach's Alpha, is not provided in the table.
Table 4: Cluster of Respondents into Groups based on Factors Considered in Real Estate Purchase
Passive Active Equality of GroupMeans t-test
Variables Discriminant Discriminant Investors Investors
Coefficient Loadings Mean Mean Wilks' F-Value Sig. t-value P-
(SD) (SD) Lambda (df = Value
1,146)
Financial 0.628 0.575 2.500 3.113 0.685 66.986 0.000 -8.184 0.000
Consideration (0.494) (0.366)

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Lifestyle 0.614 0.645 2.875 3.543 0.634 84.268 0.000 -9.180 0.000
Development 0.377 0.645 2.973 3.570 0.634 84.268 0.000 -9.178 0.000
(Wilks Lamba = 0.419; t-value = -14.140, with a corresponding p-value (P-Value) of 0.000 at a 5% level of
significance, Eigen Value = 1.388; Chi-square = 125.777, df = 3, Sig. = 0.000) Canonical Correlation = 0.762
Accuracy of Respondents Classification
Cluster Number of Case Predicted Group Membership Total
Passive Investors Active investors
Count Passive Investors 66 2 68
Original Active Investors 4 181 185
% Passive Investors 97.1 2.9 100.0
Active Investors 2.2 97.8 100.0
Accuracy – 98.0% of Original – Validated Grouped Cases Correctly
Classified
The interpretation of table 4 would be as under:
1. Financial Consideration: The variable has a discriminant coefficient of 0.628 and a significant positive
loading of 0.575. This suggests that financial considerations play a relatively strong role in discriminating
between passive investors and active investors. The mean scores for passive investors (2.500) and active
investors (3.113) indicate that active investors prioritize financial factors more than passive investors.
2. Lifestyle Consideration: With a discriminant coefficient of 0.614 and a positive loading of 0.645, lifestyle
considerations also contribute significantly to the discriminant function. Both passive investors and active
investors place importance on lifestyle factors, as indicated by their respective mean scores of 2.875 and
3.543.
3. Development Consideration: Although the discriminant coefficient is lower for development consideration
(0.377), it still contributes to the discriminant function. Both groups, passive investors and active investors,
consider development-related factors in their buying behavior, as reflected in their mean scores of 2.973
and 3.570.
4. The Wilks' Lambda values indicate the effectiveness of the discriminant function, with lower values
indicating a better discriminatory power. In this case, the Wilks' Lambda values are relatively low (ranging
from 0.634 to 0.685), suggesting that the combination of these variables can effectively distinguish
between passive investors and active investors.
5. The F-Value and associated significance levels (Sig.) indicate the overall significance of the discriminant
function. In all cases, the F-Values are highly significant (p < 0.001), indicating that the discriminant
function is able to significantly differentiate between the two groups.
6. The t-values and P-Values represent the significance of individual variables in the discriminant function.
The t-values (-8.184 to -9.180) are large in magnitude, indicating the significance of each variable in
distinguishing between passive investors and active investors.
Additionally, the accuracy of respondents' classification shows that specifically, 97.1% of the cases
classified as Passive Investors were correctly predicted, and 97.8% of the cases classified as Active
Investors were correctly predicted. This high accuracy suggests that the discriminant function, using the
variables of financial consideration, lifestyle consideration, and development consideration, is effective in
distinguishing between Passive Investors and Active Investors.The distribution of cases shows a dominant
presence of Passive Investors, comprising 97.1% of the total cases, while Active Investors represent 2.9%
of the total cases. This indicates a higher prevalence of Passive Investors in the residential real estate
market in Mohali, as reflected in the data.
VII. CONCLUSION
This study suggests that investment purposes, family accommodations, and residential acquisition are
perceived as the primary motivations for buying property in Mohali. Factors like enhancing lifestyle and
workplace convenience also hold some importance, while matrimonial intentions are relatively less significant
in driving buying behavior in the residential real estate market of Mohali. Additionally, the findings indicate

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that financial factors, lifestyle considerations, and development-related aspects play significant roles in the
buying behavior of customers in the residential real estate market in Mohali. These factors influence their
decision-making process, highlighting the importance of financial well-being, lifestyle preferences, and
development prospects when purchasing residential properties.
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