Professional Documents
Culture Documents
ON
19BSP1379
AT
“GRAB HOMEZ”
A REPORT
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ON
19BSP1379
AT
“GRAB HOMEZ”
SUBMITTED TO
Submission Date:
23 MAY 2020
AUTHORISATION
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I, KUMAR KISLAYA, the undersigned, a student of IBS, GURGAON declare that this project
report titled “Analysis of Residential/Commercial Products in Real Estate Industry of
Indian Market” at GRAB HOMEZ is submitted in partial fulfilment of the requirement for
the summer internship project during the PGPM Program of ICFAI University. IBS,
GURGAON
This is my original work and has not been previously submitted as a part of any other
degree or diploma of another Business school or University. The findings and conclusions
of this report are based on my personal study and experience, during the tenure of my
summer internship.
ACKNOWLEDGEMENT
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I would like to acknowledge and thank all the people involved for making the entire
experience of 14 Weeks of summer internship so enriching in the Pandemic situation
I would firstly like to thank to Grab Homez for giving me an opportunity to undergo
Summer Internship Program. The entire environment gave me a true picture of the
corporate world.
I would also like to thank Mr. Anish Khanna who left no stones unturned in helping me
out. I am fortunate that I got such an encouraging guide who continuously counsels me
and shows me the right path every time I got struck. He has been an ideal mentor and
without him guidance the journey wouldn’t have been smooth.
I am again immensely indebted to Miss Kiran Sachdeva & Mr. Anish Khanna for their
unlimited and enthusiastic encouragement for this project report and putting their trust
in me. They were extremely helpful and patient to solve all my doubts.
I also thank Prof. Hemant Kumar. He has guided me and encouraged me throughout this
project in epidemic situation of Lockdown periods. His inputs have helped me gain clarity
of thought and showed me the right direction. He has been a wonderful trainer, guide
and true professional, with whose help I was able to perform well in the project. I have
lost my hope during this internship period after the epidemic situation and lockdown
period but he has guided me and allotted us an Assignment on which I have worked upon
and build my Confidence Level again.
Last but not the least I would thank the entire team of Grab Homez Gurgaon, for their
cooperation. I am thankful to everybody who has helped me directly or indirectly by
contributing their valuable time, energy and knowledge to execute the project. Their
support can’t be overlooked.
This internship has enriched me both professionally and personally and helped me
become a better person.
TABLE OF CONTENTS
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S. No. Particulars Page No.
1 Authorization 3
2 Acknowledgement 4
7 Methodology 29-30
9 Findings 37
11 Special Achievement 39
12 Learnings 40-41
EXECUTIVE SUMMARY
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STUDENT INFORMATION:
Name: Kumar Kislaya Enrolment No:19BSP1379
ORGANISATION DESCRIPTION:
Industry Type: Real Estate
Name & Address: Grab Homez, Regus, C-block 10thfloor, Unitech Tower Sector 39, Gurugram,
Haryana.
Description: Grab Homes is a real estate consultancy-based company and based on customer
experience and research, we educate them on different types of real estate investments, give them a
market analysis, and then suggest different options for a secure location and prime.
INTRODUCTION:
Grab Homes is a real estate consultancy-based company and based on customer experience and
research, we educate them on different types of real estate investments, give them a market analysis,
and then suggest different options for a secure location and prime. Asset awareness, government
policies, comparative market rates, promoters / developers’ profiles, tenant profiles as well as their
expansion plans.
METHODOLOGY USED:
Discussion with the management served as the primary source of data whereas secondary sources
included external documents, links and third-party confirmations. (5th March2020 to 13 may2020).
WORK PERFORMED:
I performed Accuracy and Completeness on external data given by management and communicated
with competitors to better understand the competitive strategy for the product. Along with that I have
built an idea with an enthusiastic in work style and develop my own website and enter into the B2B
Segment of business line (20TH Feb 2020 to 22nd May 2020).
Also, worked on digital Media like LinkedIn, Facebook, Instagram for promotion of Products related to
company (23 March 2020 to 22nd May 2020).
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EXTRA INITIATIVE:
I helped in developing the promotional page and Publishing the post related to the project through
digital marketing tool, Digital media and generated potential customer’s database.
OBJECTIVE OF STUDY:
Study and knowledgeable about the Real Estate Industry.
Conversion of lead into sales to maximize revenue by building the Sales pipeline.
To gain maximum knowledge about the working of the organization from every perspective.
Handling day to day responsibilities within the given time.
Achieving the company goal and set target within the given time.
Keep prospective client database updated.
Keeping the track of records on given data in excel & any other tool.
LIMITATIONS:
This research is geographically restricted to Delhi NCR only. Hence the result cannot be
extrapolated to other places as the sample area is taken from Delhi but mostly the
customer base is from Delhi/NCR region.
The information executed from primary data may or may not be serious Customer.
However, all possible outcome has been made to collect information as authentically as
possible.
LEARNING:
I learned to professionally Deal with the clients and adapt to different work cultures. Enhanced
time and stress management skills due to tight timelines was also a part of personal learnings.
Working on startup business helped a lot to understand the business segment and practically I
applied on my new startup. I have learned data mining, Advanced excel, Discipline, Digital
Marketing tools. Along with that I have done certification course like stakeholder management,
Digital Marketing, Operation management, etc.
RECOMMENDATIONS:
Grab Homez should invest more on digital platform to promote and make their customer’s base as
it’s a startup company with less customer’s base. They should tie-up with some big market players
in order to build their customer base.
Industry Overview
Real Estate Industry is rapidly growing at a fast pace in India, the drastic change in population is
demanding for more residential apartments, multistoried buildings thus more and more construction is
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taking place which in return benefits the Real estate industry, it also plays a critical role in the
development of India’s economy. It is the second largest employer after agriculture.
High Growth in services as well as manufacturing sector has also resulted in high demand for
commercial and industrial real estate.
Real estate industry is divided into four sub-sectors: Housing, Retail, Hospitality and Commercial. The
housing sub-sector contributes five-six per cent to the country's gross domestic product (GDP).
Meanwhile retail, hospitality and commercial real estate are also growing significantly.
Growth in the Indian economy has stimulated demand for land and developed real estate across
industries. Demand for residential, commercial and retail real estate is rising throughout India,
accompanied by increased demand for hotel accommodation and improved infrastructure.
To conclude Indian real estate sector promises to be a lucrative destination for foreign investors
into the country. The Indian realty sector, if channelized properly, can be help the growth of
several other sectors in India through its backward and forward linkages.
“When People have fear I should be greed, when I am greed people have fear”
- Warren Buffet
Company Overview
Grab Homes is a real estate consultancy-based company and based on customer experience and
research, we educate them on different types of real estate investments, give them a market analysis,
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and then suggest different options for a secure location and prime. Asset awareness, government
policies, comparative market rates, promoters / developers’ profiles, tenant profiles as well as their
expansion plans.
No. Of Employee 07
Products:
Residential Flat / Plot (65%).
Commercial plots / offices / flats (33%).
Industrial properties / factory (varies by 1-2%).
Price:
• Pricing strategy varies according to the Size, Location area of property.
• Commission of 7-8% on every project/Client is fixed to broker from supplier & sometimes it
varies with 2-3%.
Place:
Distribution channels can mean selling of products directly or selling through wholesalers, retailers
etc.
Major Channels of Distribution:
Manufacturer → Consumer
Manufacturer → Retailer → Customer
Manufacturer → Wholesaler → Customer
Manufacturer → Agent → Retailer → Customer
Manufacturer → Agent → Wholesaler → Customer
Manufacturer → Agent → Wholesaler → Retailer → Customer
The Mode of Distribution Channel Used In This Project Is The Highlighted One.
DLF-> Manufacturer-> Grab Homez-> Wholesaler-> Customer
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People:
• References.
• Most importantly on telephone sales.
Get customer from event/Stall/Exhibition.
Middle class and Higher-class people target.
Promotion:
• Personal Selling.
• Online Media Like Instagram, Facebook and social Media Platform.
Process:
• Approved property by Gov under RERA Act, state gov act.
• 5%Booking amount pay for confirmation.
• Draw scheme.
Physical Evidence:
• Layout plan.
• Site visit.
• semi-furnished property.
How Do We Work
“Owning a home is a keystone of wealth, both financial affluence and emotional security.”
-Suze Orman
OBJECTIVE OF STUDY
Application of theoretical knowledge in practical world: Conversion on sales into maximum
revenue by building the good customer relationship.
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Knowledge of the sector: To get to know how Real Sector works and how Supplier and
consultancy co-ordinate with each other when it comes to price and location.
Marketing strategies: Application of 4Ps of Marketing as Grab Homez have just entered into the
real Estate sector.
To gain maximum knowledge about the working of the organization from every perspective.
Handling day to day responsibilities within the given time.
Achieving the company goal and set target within the given time.
Keep prospective client database updated.
Keeping the track of records on given data in excel & any other tool.
To find out which mode of advertisement agents and builders prefer.
To find out which mode of advertisement used by them is effective.
To Find out how many builders and small agents promote their business with the
help of Internet through a questionnaire.
“Buyers decide in the first eight seconds of seeing a home if they’re interested in buying it. Get out
of your car, walk in their shoes and see what they see within the first eight seconds.”
-Barbara Corcoran
SWOT ANALYSIS
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STRENGTH WEAKNESS
I. Approved and Tested I. Client Priorities does not meet.
Property (RERA).
II. Time issues.
II. Effective use of resources.
III. Global operations are limited.
III. Diverse client base across IV. It has workforce with few people so
various customer segment. it needs to increase its operations.
IV. Meet best practice guideline.
OPPORTUNITY THREATS
I. Acceptable to investors and Supplier. I. Increase cost of raw material.
II. Risk Task.
II. Global expansion through tie-up
with international Builder can give III. PESTLE Change.
it a new market base. IV. Unfavorable market conditions due
III. Insurance/Risk Transfer. to recession can affect business.
“Don’t wait to buy real estate. Buy real estate and wait.”
-Will Rogers
Bargaining Power of Suppliers: The three biggest costs in Real Estate are Land, Material/Raw
Material and Capital. Bargaining power of suppliers is quite high due to the following reasons:
Worker Employee in supplier side are high due development of temporary worker.
Firm hasn’t invested much in the technology/Resources whereas supplier have more
invested in their resource like land & Technology.
Bargaining Power of Customers: Owing to high switching cost bargaining power of clients still remain at
a lower front. Switching costs includes the time and cost required to search for another firm offering the
same Product at a better price.
Risk of Substitutes: Risk of substitutes in areas such as Resource and land are negligible on account
of the private offices/retain/mechanical is most being recognized.
Competitive Rivalry: Competition level is high and intense as the number of Consultancy/Brokers
firms in India is quite high. The top 5 Consultancy firms of real estate in India have high quality
deliverables and have the capability to attract big clients because of the reputation they have in the
Indian market. Some of the firms in India is listed below:
Investor Clinic
Magic bricks
99Acres
Housing.com
Prop Tiger
TV: Small Real estate agents generally don’t promote their business though this medium but
Builders prefer this medium, as it reaches the mass builders like DLF, Godrej, merlin group do put
their advertisement in T.V.
Pamphlets: Small agents promote their Business through Pamphlets they give pamphlets which
consists of their name, phone number, address etc. so that the buyers who want to reside in a
particular place can contact them. sometimes it can also be in the form of a visiting card.
Newspaper: Newspaper is the most common medium through which both builders and Agents
promote their business this kind of widely used and widely accepted as it is user friendly for those
people who don’t use internet. Therefore, the response is also quite good through this medium.
Almost all newspapers publish a separate page in which the agents and builders promote their
business. for ex- Telegraph, India Times news etc. publish a page called:” REAL ESTATE”
“Real estate is an imperishable asset, ever increasing in value. It is the most solid security that
human ingenuity has devised. It is the basis of all security and about the only indestructible
security.”
-Russell Sage
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Industrial Analysis
Comparison of residential and commercial Agents
Magic
Categories bricks 99 acres.com JLL Housing.com
E-commerce, Real
Industry Real Estate Real Estate Real estate Estate, Classifieds
Headquarter
s Noida Noida Chicago Mumbai
Christian
Key people Sudhir Pai Hitesh Oberoi Ulbrich Dhruv Agarwal
Times Sanjeev
Owner Group Bikhchandan Aon Center Rahul Yadav
$17.98
Revenue $30.9M ₹316.6 crore billion $2.5M
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Real Estate Brokerage
Real estate brokers bring together buyers and sellers of property, assist in price
negotiations, and facilitate the work involved in deals from initial interest
expressed through money being exchanged at closing. Examples of services
provided include property appraisals and inspections. Generally, the seller of a
piece of property pays a commission based on a percentage of the sale price
(usually 5 or 6 percent). This commission is split between the buyer’s broker
and the seller’s broker.
Since commission is based on property value, brokers make more money for
higher-priced deals. The value of a real estate investment is determined by
many things - but location is key (“location, location, location” as they say!).
Factors controlling the value of a location include public transportation access,
the quality of the roads and schools, income levels and the strength and
stability of the local economy.
Real estate brokers must be licensed in the state in which they work, and while
it is estimated that there are over 1 million licensed brokers, most are either
inactive or consider brokerage activity as a secondary line of work.
Some popular real estate franchises are Century 21 Real Estate and Coldwell
Banker Real Estate.
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Current report on Indian Real estate Industrial Analysis
Real estate sector in India is expected to reach US$ 1 trillion by 2030. By 2025,
it will contribute 13 per cent of the country’s GDP. Real Estate stock in India is
expected to reach 3.7 million square feet in 2019, with addition of 200 million
square feet during the year. Emergence of nuclear families, rapid urbanisation
and rising household income are likely to remain the key drivers for growth in
all spheres of real estate, including residential, commercial and retail. Rapid
urbanisation in the country is pushing the growth of real estate. More than 70
per cent of India’s GDP will be contributed by the urban areas by 2020. Indian
real estate increased by 19.5 per cent CAGR from 2017 to 2028.
Real estate attracted around Rs 43,780 crore (US$ 6.26 billion) of investments
in 2019. The retail segment in Indian realty attracted private equity
investments of around US$ 1 billion in 2019. Real estate attracted around US$
14 billion of foreign private equity (PE) between 2015 and Q3 2019. First REIT
raised Rs 4,750 crore (US$ 679.64 million) and was launched earlier in 2019 by
the global investment firm Blackstone and realty firm Embassy group.
Office space has been driven mostly by growth in ITeS/IT, BFSI, consulting and
manufacturing. Warehousing space is expected to reach 247 million square
feet in 2020 and see investments of Rs 50,000 crore (US$ 7.76 billion) during
2018-20. Grade-A office space absorption is expected to cross 700 million
square feet by 2022, with Delhi-NCR contributing the most to this demand.
Housing sales are expected to increase by 4 per cent year-on-year by 2018 end
to reach 2.58 lakh units across seven major cities.
The Government of India has been supportive to the real estate sector. In
August 2015, the Union Cabinet approved 100 Smart City Projects in India. The
Government has also raised FDI limits for townships and settlements
development projects to 100 per cent. Real estate projects within the Special
Economic Zone (SEZ) are also permitted 100 per cent FDI. Exports from SEZs
reached Rs 7.01 lakh crore (US$ 100.30 billion) in FY19.The total number of
houses built under the Pradhan Mantri Awash Yojana (PMAY) reached 69
million up to May 27,2019. Government of India’s Housing for All initiative is
expected to bring US$ 1.3 trillion investments in the housing sector by 2025. As
of December 2019, under Pradhan Mantri Awash Yojana (Urban) [PMAY (U)],
1.12 crore houses have been sanctioned in urban areas creating 1.20 crore
jobs.
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Competitor’s Analysis with 4 P’s: (Residential Property)
99 Acres Magic bricks
Product: Affordable Housing Product: Affordable Housing
Builder Name: Pyramids Pvt
Builder Name: Zara Rossa.
Ltd.
Size of the Floor Plan: (3BHK)
Size of the Floor Plan:
Carpet Area:645.57 SFT.
(3BHK)
Balcony Area:124.60 SFT.
Carpet Area:643.65 SFT.
Types of Construction: Under-
Balcony Area:98.00 SFT.
Construction.
Types of Construction:
Possession Date: Dec 2021.
Under- Construction.
LayoutPlan:
Possession Date: May
2023.
Layout Plan:
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“The four most dangerous words in investing are: ‘this time is
different.”
– Sir John Templeton
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Marketing.
Payment Plan for Customers:
PESTLE ANALYSIS
Top Real Estate Consultancy/Broker Company in India:
I. Investor Clinic
II. CBRE
III. 99 Acres
IV. Magic bricks
V. JLL
Political Factor:
Tax Credits, Subsidies, deductions are ways to boost up the demand in real sector
like Under Pradhan Mantri Awash Yojana, Citizen can get Subsidies of Rs2.67 Lakh if
he/she owns its First house.
Political Involvement in supply of real estate properties are important to remove
fraud and illegal practices done by supplier and broker like after the RERA Act may
2016, Fraud and illegal practices has been reduced to 97%.
Economical Factor:
Factors depend on income growth (8.9%), Unemployment Rate (7.8%), and GDP
of country (4.7%).
Low Interest Rate (8.05%).
Social Factor
Increase in Consumption.
Urbanization
Increase in per capita income
Rise in demand for high quality of project
Technological Factor
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Internet Revolution
Media Platform
Development mainly happening in urban areas to cater the same modern
technology.
Environment Factor
Air quality and water Problems in urban areas with respect to rural areas.
Location are more prioritize area for people for market demand like clients want to
purchase properties which is nearer to urban cities like Gurgaon.
Availability of Natural resource like (oil/Gas etc.).
Legal Factor
Land Acquisition, Rehabilitation and resettlement act2013 & RERA Act 2016.
Product
Price Process
Physical
Evidence
Place People
Promotion
PRODUCT:
From a wide range of categories, the Product that we have to focus on is
I. 1 Residential Flat / Plot (65%)
II. 2 commercial plots / offices / flats (33%)
III. 3 Industrial properties / factory (varies by 1-2%)
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• Semi-Furnished/Vitrified.
• Nearest to Prime Location.
• All Amenities are provided like Car Parking etc.
• Doors/Tap are fitted.
• RERA Approved Properties.
Price:
The PTW i.e. Price to Wholesaler is the price on which the product is sold to Wholesalers
like Grab Homez.
Commercial Properties with an area and Construction Type from Supplier’s to
Consultancy/Brokers:
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• Commission of 6%-8% on every project/Client is fixed to broker from supplier &
sometimes it varies with 2
Place:
• Target to Urban area cities like Delhi / NCR and Gurgaon region.
• Shifting from urban areas to Rural areas like Sohna Road/Bhondsi
The Mode of Distribution Channel Used In This Project Is The Highlighted One.
DLF-> Manufacturer-> Grab Homez-> Wholesaler-> Customer
Promotion:
• Personal Selling
• Online Media Like Instagram, Facebook and social Media Platform
People:
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• References.
• Most importantly on telephone sales.
Get customer from event/Stall/Exhibition.
Middle class and Higher-class people target.
Process:
• Approved property by Gov under RERA Act, state gov act.
• 5%Booking amount pay for confirmation.
• Draw scheme.
Physical Evidence:
• Layout plan.
• Site visit.
• semi-furnished property.
“Buying real estate is not only the best way, the quickest way, the safest way, but the
only way to become wealthy.”
-Marshall Field
INTRODUCTION TO RERA ACT
The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India
which seeks to protect home-buyers as well as help boost investments in the real estate
industry. The Act establishes a Real Estate Regulatory Authority (RERA) in each state for
regulation of the real estate sector and also acts as an adjudicating body for speedy dispute
resolution. The bill was passed by the Rajya Sabha on 10 March 2016 and by the Lok Sabha
on 15 March 2016. The Act came into force on 1 May 2016 with 59 of 92 sections notified.
Remaining provisions came into force on 1 May 2017. The Central and state governments
are liable to notify the Rules under the Act within a statutory period of six months.
PARLIAMENT OF INDIA
LONG TITLE:
Citation: No. 16 of 2016
Enacted by: Parliament of India
Passed 15 March 2016
Passed 10 March 2016
Assented to 25 March 2016
Commenced 1 May 2016
1 May 2017
Legislative history
Bill: Real Estate (Regulation and Development) Bill, 2016
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Bill citation: XLVI-C of 2013
Bill published on 14 August 2013
Introduced by: Dr. Girija Vyas, (Minister of Housing and Urban Poverty Alleviation).
Registration
The Real Estate Act makes it mandatory for all commercial and residential real estate
projects where the land is over 500 square meters, or eight apartments, to register with the
Real Estate Regulatory (RERA) for launching a project, in order to provide greater
transparency in project-marketing and execution. For ongoing projects which have not
received completion certificate on the date of commencement of the Act, will have to seek
registrations within 3 months. Application for registration must be either approved or
rejected within a period of 30 days from the date of application by the RERA. On successful
registration, the promoter of the project will be provided with a registration number, a login
id, and password for the applicants to fill up essential details on the website of the RERA.
For failure to register, a penalty of up to 10 percent of the project cost or three years'
imprisonment may be imposed. Real estate agents who facilitate selling or purchase of
properties must take prior registration. Such agents will be issued a single registration
number for each State or Union Territory, which must be quoted by the agent in every sale
facilitated by him.
RERA RULES
The Act under S.84 contemplates that within 6 months of the RERA Act being enforced,
State Governments shall make rules for carrying out the provisions of the Act. The said Rules
are to be notified by some of the State Government. As late as 31 October 2016, Central
Government, released the Real Estate (Regulation and Development) (General) Rules,2016,
vide Notification by the Ministry of Housing & Urban Poverty Alleviation(HUPA).The Rules so
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issued by the Central Government are applicable to the five Union Territories without
Legislature viz. Andaman & Nicobar Islands, Dadra & Nagar Haveli, Daman & Diu,
Lakshadweep, and Chandigarh. The Rules have been issued after the prior release of Draft
for comments.
As of 13 July 2019, Arunachal Pradesh, Meghalaya, Sikkim and Nagaland have not notified
the Rules. In the case of five north-eastern states, the RERA Act is facing certain
constitutional challenges as the land in those states are community owned. West Bengal
notified a similar law called the West Bengal Housing Industry Regulatory Act, 2017, which
came into effect from 1 June 2018.However, as of July 2019, many of the states have not
implemented the law in its true letter and spirit and failed to notify a Permanent Regulator,
Appellate Authority or a website.
Haryana Government Rules:
https://tcpharyana.gov.in/Policy/Rules%20on%2027_07_2017.pdf
Delhi Government Rules:
http://dda.org.in/rera/index.aspx
UP Government Rules:
http://www.up-rera.in/
Protection of buyers
The Act prohibits unaccounted money from being pumped into the sector and as of now 70
per cent of the money has to be deposited in bank accounts through cheques is now
compulsory. A major benefit for consumers included in the Act is that builders will have to
quote prices based on carpet area not super built-up area, while carpet area has been
clearly defined in the Act to include usable spaces like kitchen and toilets. Under RERA, its
mandatory for the builders to disclose the carpet area.
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Impact of covid-19 in SIP work
Not generated revenue for the company.
No any site visits with the customers.
Not recognized geographical area of Gurgaon practically.
Training with corporate builders was incomplete.
No meeting with new customers for discussing about the projects.
“Not only do you have to have content in your digital and inbound real estate marketing
strategies, but content that gets an LOL, gets read, noticed, shared, clicked, and
commented on is how you make a human connection in today’s noisy, multi-device
world.”
-Laura Monroe
https://www.linkedin.com/company/42814593/admin/
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4 Website Created on 2nd March 2020
http://www.2ndeye.in/
https://www.facebook.com/scholarskart/
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8 Gain Knowledge and learnt about:
Digital Marketing tool.
Built Promotional page
Promoted on social media platform
Created Business account on LinkedIn, Facebook. Instagram, Pin-interest.
METHODOLOGY
Research design
Sources of data:
Method:
Target audience: Agents and Customer
1 Sample size: 11
2 Sample size: 30
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Procedure: sample from areas such as:
I Delhi/NCR.
II Gurgaon.
Data collection:
Secondary data is collected through various sources like Real estate website,
Competitors site, past year’s data, etc.
Collected through access to competitor’s data. Some data can also be collected by
references.
Operations:
1. Interacting with Potential Buyer on phone to resolve all the possible queries and
guide them for the projects.
2. Maintaining Potential client records of the potential buyer students that are
interested in the real estate project.
3. Text messages to the client to inform them about the Projects.
Calling Process:
1. Cold calling.
2. Informative calling.
Maintained Customer data on Excel Sheet
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“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common
sense, paid for in full, and managed with reasonable care, it is about the safest
investment in the world.”
-Franklin D. Roosevelt
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Interpretation:
Customer were asked to share their annual income through google form in which
41.7% which is around 5 respondents have responded that its annual income ranges
between Rs 2Lakh to Rs 10Lakh, whereas 58.3% have respondent that their annual
income is less than Rs.2 lakh which is quite very high and that’s reason customer are
not able to purchase property which of cost is too high.
Interpretation:
Through survey we get to know that the buyer or customer belong from different
occupation background. In this 41.7% are salaried person who are eligible for loan
and property purchase where as 33.7% are Self-employed and are also eligible for the
same as employee has and 16.7% are students who are interested but have their
future plan and are eligible only for loan after they have engaged in corporate area.
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Interpretation:
We have asked customer that whether they are income tax payee or not in which
75% have responded that they are not the tax payee which means that they are
having low income or not working yet but 25% have also responded that they are
paying tax and might be high salary or minimal to amount of tax payee.
Interpretation:
The respondent gave the response that around 41.7% have source of saving to buy the
property where as rest 33.3% and 25% have salary and bank loan source to buy the
property.
Interpretation:
Mostly the customers prefer ready to move property in which they have low chance of
fraud and easily customer can move into the property where as rest 33.3% are interested
in under construction property which means that they are planning for future as well as
have low investment plan and can easily pay the amount in different time slot. Mostly
the slot is having difference of 6 month from the date of booking.
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Interpretation:
From the above survey it can be clearly seen that there are new agents who are entering the
real estate business out of 30 respondent 9 are new players and have recently started this
business which shows how real estate market is booming at a fast pace and the majority of
the respondent are in this business for more than 5 years which also indicates that they
have got the return from that business which had made them stay longer.
Interpretati
on:
One of the reasons as to why there are more agents is their brokers and sub-
brokers who are categorized under agents, also in places like Kapashera road,
Dundhahera road, MG Road we find more agents then builders.
Around 50 % of the respondents were agents, 40 % were builders and 10% were
sub-brokers who are also called part time brokers.
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No of respondents
18
16
14
12
10
8
6
4
2
0
yes no can't say
Options
Interpretation:
This particular question was asked to find out their view as to see what is their view
regarding advertisement
Many respondents said yes because they use different modes of advertisement to
promote their business. Those agents who said no which were around 8 respondents
still believed in word of mouth and they didn’t promote their business as they got
business through their initial reputation which they had created in the market.
Interpretation:
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Almost everyone believed that advertisement is necessary without which their business
cannot run as they see lot of competition in the market.
The other reason which make them advertise is number of agents and builders in a
particular area. So, to get better contacts or a name in the market advertisement is
required, respondent who said nowhere those who believed in word of mouth.
11. Agents and builders surveyed to know how often they take the help of
advertisement.
2
no of
2
1
1
5
0
Very Alwa Not
optio
Interpretation:
This was a very interesting question for them and the answer which I got mostly was
yes, the reason was there has been lot new construction which enables Builders and
agents to advertise. Also, to find a place in the market to maintain the goodwill they
had to advertise to keep themselves updated.
“Land monopoly is not only monopoly, but it is by far the greatest of monopolies; it is a
perpetual monopoly, and it is the mother of all other forms of monopoly.”
-Winston Churchill
FINDINGS
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Many agents where were also found as sub-brokers who run their business through
a tea shop.
It has found that mostly the customers interested to buy ready to move property
Before buying any product, people look in the internet about its features and cost to
make a decision whether to buy that product or not.
Although Grab Homez is startup company and need to manage all these portfolios
to sustain into the market
Mostly the customers are having low income but want to purchase their dream
homes and that’s why bank give loan to those customers who can’t pay the large
amount at a time.
“Not following up with your prospects is the same as filling up your bathtub without
first putting the stopper in the drain.”
-Michelle Moore
CONCLUSION
There has been a significant change in the way small agents and builders and customers for
buying and selling properties. Advertisement has been their main source for agents and
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builders to promote their business. Most agents and builders are changing their mode and
switching to Internet advertisement which comprises of so many benefits by doing this
agents and builders are getting a good response, as nowadays people are spending more
time in the internet as it provides everything in just a click.
Though there has been a significant rise in ready to move property as there is less chance of
fraud from agents and builders and timely handover guarantee of the project to customer as
well. But the price for the project would be high as compare to under construction property
because there will be no any such management quota amount which have to be pay by
customer.
Thus, online media and digital media has its use as it is booming at a fast pace and is
becoming the choice for agents and builder as well as customer to promote their business
to customers still it comes second after newspaper in terms of popularity, trust, response
etc. Therefore, newspaper advertisement for advertising is the still the best medium to
promote business and it may take more approximately 4-5 years to become the most
preferred mode of advertisement.
RECOMMENDATIONS
• After doing the research it was found that Grab Homez have to work upon digital
marketing platform so that they can focus on providing more awareness related to their
project to their existing as well new client.
• Grab Homez should focus on small Customers as well (mainly who are new and financially
not strong) and should provide all the government facilities like Pradhan Mantri awash
yojana to their new clients
• Builders or promoters who are satisfied with the service of Grab Homez should take some
reference from them and convert them into their clients.
• Grab Homez should also introduce package of low amount which will bring in more
advertisement from agents who have recently started their business.
SPECIAL ACHIEVEMENT
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1 During these lockdown period I have collected data of potential customers
through:
Digital Media
Social Media like Instagram, WhatsApp, LinkedIn.
Cold Calling.
“It is not that we have too little time to do all the things we need to do; it is that we
feel the need to do too many things in the time we have.”
– Gary Keller
LEARNINGS
Professionalism
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Digital
Marketing Client Dealing
Personal & Professional Learning
Client Dealing- I worked with five clients from different Economical Sector like
Somewhere Self-Employee and others were Salaried Employee during my
internship tenure with Grab Homez. I learned to communicate and deal with the
respective Customer in a professional way.
Adapting to different work culture- All the clients had different work culture
and different Professional Background. Two Of them are from Self-Employee
person and rest three were from Government Employee.
Digital Marketing: I have learnt the use of hash tags, tagging, post timing to
promote the social media pages and some website creation tool like
WordPress which make me understanding about the digital marketing
concept.
Time and Stress Management- Meeting with clients and Showing and mapping
with location has tough task and there is lot of stress when it comes to their
budget and when I got a chance to convert that lead into their time limits.
Discipline- I learned to be on time and maintain discipline during my internship
at Grab Homez and submitted my all the assignment and weekly Reports to SIP
Guide on time.
Technical Learning
Improved Excel skills- Learned new excel shortcuts and functionalities which
improved my hard skills.
Data analysis & Interpretation- Filtration and rectifying data from secondary
source involved receiving different type of data and analysis of the same to find
Correct form of data.
Data Mining: While creating the database I have learnt the concept of
extracting the useful data from the available data from secondary source like
filtering the data of owner’s data from 99 Acres site. Gathered information
about Real Estate distributors/Suppliers.
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“Success is actually a short race a sprint fueled by discipline just long enough for habit to
kick in and take over.”
-Gary Kelle
SOURCES
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“All through time, people have basically acted and reacted the same way in the market as
a result of: greed, fear, ignorance, and hope. That is why the numerical formations and
patterns recur on a constant basis”
– Jessy live more
REFERENCES
Www.99acres.com
www.owler.com
www.google.com
www.magicbricks.com
www.investorsclinic.com
www.housing.com
www.makaan.com
www.wikipedia.com
https://en.wikipedia.org/wiki/Real_Estate_(Regulation_and_Development)_Act,_2016
https://www.google.com/forms/about/
https://www.linkedin.com/feed/
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“There have been few things in my life which have had a more genial effect on my mind
than the possession of a piece of land.”
-Harriet Martineau
QUESTIONNAIRE
Name:
Email ID:
Age:
1) Annual Income
2) Occupation
Self-Employee
Salaried Employee
Pensioner
Others
Yes
No
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4) May I know the source of Income to buy property.
Less than 1
1 year – 3 year
More than 3 years
Under Construction
Ready to move
Recently started
2-5 years
more than 5 years
Agent
Builder
Others
Yes
No
Can’t say
Yes
No
11) How often do you put your advertisement for sale of a property?
Very less
Always
Not required
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“To be successful in real estate, you must always and consistently put your clients' best
interests first. When you do, your personal needs will be realized beyond your greatest
expectations.”
-Anthony Hit
Thank You
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