A PROJECT REPORT ON

“A Study of Consumer Behaviour in Buying

Property In Pune”
Submitted By-
Vinit Kota
Roll no-
Under guidance
Dr. Pushpraj Wagh
Submitted to

SAVITRIBAIPHULE UNIVERSITY
IN PARTIAL FULFILLMENT OF MASTER OF
BUSINESS ADMINISTRATION (MBA)
Batch 2022 to 2024
Submitted through

International Institute Of Management Science,

Chinchwad, Pune, Maharashtra, 411033.

1
Declaration
I, Vinit Kota, student of International Institute of Management Science,
Chinchwad, Pune, hereby declare that this project report entitled “A Study of
Consumer Behaviour in Buying Property In Pune” is a bonafide record of work
done by me for the partial fulfilment of the requirement for the degree of Master of
Business Administration (M.B.A) through Savitribai Phule Pune University.
I, hereby, declare that I have adequately cited and referenced the original sources. I
also declare that I have adhered to all principles of academic honesty and integrity
and have not misrepresented or fabricated or falsified any idea/data/fact/source in
my submission. I understand that any violation of the above will be cause for
disciplinary action by the Institute and can also evoke penal action from the
sources which have thus not been properly cited or from whom proper permission
has not been taken when needed.

(Signature)
Name of student
IIMS, Chinchwad, Pune

2
Acknowledgement

I am deeply indebted towards my project guide Mr. Pushpraj Wagh who

gave me the opportunity and was instrumental in providing me all the
knowledge and insight to do the research. It is their inspiration that has kept
me motivated all along my project and the discipline and integrity they had
expected from a summer trainee that made me to learn the real lessons of
life.

I would like to express my earnest gratitude and thanks to Dr. Shivaji

Mundhe (Director of IIMS) and my project guide Mr. Pushpraj Wagh for
providing me all the knowledge and skills set as required to achieve this
Endeavour.

I thank my all faculty members and friends for their support and blessings.
The report is the result of contribution of numerous people to mention
individually.

I also thank all respondent who have given their value time, views and
authentic information for this project. I thank each and everybody who has
contributed directly or indirectly to the successful completion of this project.

(Signature)

Name of student

IIMS, Chinchwad, Pune.

3
TITLE INDEX

SR. TITLE PAGE

NO NO
1 Executive summary 5

3 Introduction 9

4 Organization profile 17

5 Literature review 22

6 Objectives and scope of the project 26

7 Research methodology 28

8 Data analysis 32

9 Findings & Suggestions 42

10 Conclusion 45

12 References 47

4
 Chapter: - 1

Executive summary

Executive summary

Introduction to Project

5
The project work is pursued as a part of MBA Curriculum at “International
Institute of Management Science.

It is undertaken as an internship at EstateMint Pune. The project is done under

expert supervision and guidance of Dr. Pushparaj Wagh.

The Project is about “A Study of Consumer Behaviour In Buying Property In

Pune”

Project Title

The title of project is ““A Study of Consumer Behaviour In Buying Property In

Pune”

Why have I chosen this company and this project?

I have chosen the above-mentioned topic as I worked as an intern in EstateMint as

a Sales Excutive. Moreover, EstateMint is a Real Estate company which works as a

sole selling firm in India. As a sales executive, Conducting market research to

identify selling possibilities and evaluate customer needs. It has given me

opportunity to learn about consumer behaviour, future trend, etc.

Location

Baner, Pune.

Duration of the project :The duration of the project is 60 days (2 months).

6
Chapter: - 2

Introduction

7
Introduction

Real estate is referred to as the land as well as any permanent, whether natural or

man-made, structures or improvements related to the property, such as a house.

One type of real property is real estate. It contrasts from personal property, such as

cars, yachts, jewels, furniture, and farm equipment, which is not permanently

affixed to the land. Any property used for residential purposes is considered

residential real estate. Single-family homes, condominiums, cooperatives,

duplexes, townhouses, and multifamily buildings are a few examples.

The study of how people choose, buy, use, and dispose of goods and services to

satisfy their needs and preferences is known as consumer behaviour.

Consumer behaviour studies both the actions that customers take and the

motivations behind those actions. Macro-level demographic changes, as well as

societal attitudes, beliefs, and practises that influence how customers engage with

the marketplace, are of interest to marketers. Consumer behaviour concentrates on

human behaviour and the causes of these behaviours on a micro level. As a result,

ideas from psychology and sociology are frequently found in the literature on

consumer behaviour. The principles are explained in the sections that follow as

they relate to the growth of a better knowledge of real estate decisions in a

framework of consumer behaviour.

The purchase of a residential property is a high-involvement purchase, and the

buyer goes through a complex buying decision-making process. In a complex

buying decision making, the buyer goes for extensive information search from

various sources and almost all family members participate in buying decision and

8
 the time taken for final decision-making is also high. Humans require their own

home. It is a fundamental requirement and is seen as part of the level of living. The

residence provides independence, privacy, and protection. Homeownership gives

families stability, and it also serves as an investment.

Economists characterized housing as a bundle of attributes. Some of these

attributes are internal characteristics of the housing unit itself, such as, whereas

external are access to utilities, services and facilities and location. Very little

research had been carried out in the UK to understand consumer needs and wants

in regard to housing preferences and interest. Due to this, there is a significant gap

between developers’ perceptions and consumers’ expectations, which resulted in

customer dissatisfaction. So, tried to bridge this gap by calling researchers to study

this issue. It is now very important to study the factors affecting buyer behaviour

regarding residential property. It will help residential property developers in

fulfilling the needs of customers of residential real estate products.

Residential property market studies have found increasing recognition and the

importance of buyers’ behaviour, among researchers and the property industry.

There is a high acceptance of need of studying the consumer behaviour in real-

estate products. Most studies in this area have investigated the behavioural

concepts that affect the price-setting processes and market’s search. It is important

to understand the buying decision-making process as the value of the residential

property is determined by the demand.

Consumer Choice and Decision Making

Consumer choice is a major topic of research on consumer behaviour. Both utility

theory in economics and attitude theory in social psychology serve as the

foundation for how consumers make decisions and choices. Customers buy

9
 products and services because they will gain from using them. Consumer

behaviour places more emphasis on the process than economics, which emphasises

outcomes. Consumer behaviour researchers openly acknowledge the influence of

situational factors on behaviour and the variability across individuals rather than

assuming ideal circumstances. The majority of real estate leases and acquisitions

would be regarded as high involvement products requiring sophisticated decision-

making. The three most important comprehensive models of this type of consumer

decisionmaking trace the psychological state and behaviour of consumers starting

from the point at which they perceive a need through the search for information,

assessment of alternatives, purchase, and final assessment of the consequences.

The idea is that a series of mental information processing occurs before a buying

act. This involves a cognitive process for creating beliefs, an emotional process for

creating favourable or unfavourable attitudes, and a response by being motivated to

choose and purchase.

Decision rules

Consumers select from a list of acceptable options (evoked or consideration set)

while evaluating alternatives, such as deciding which home to buy or rent,

according on the factors they have prioritised. Consumers must be aware of a

product's existence and believe it will meet their needs before they will consider

buying it.

The product features that a buyer finds significant serve as the criterion for

selecting one product over alternatives. Using compensatory or non-compensatory

choice criteria, consumers can choose what to buy. With the aid of a compensating

decision rule, the buyer recognises the crucial characteristics and evaluates the

alternatives for each quality and chooses the item with the best rating. The

10
consumer chooses the product they believe has the greatest number of positive

qualities using a straightforward additive rule.

This is a rather straightforward guideline that is typically applied when motivation

or ability are low (Alba and Marmorstein, 1987). As a result, a customer might

pick an apartment with an inconvenient location over one with a pool and a

convenient location if it also has an exercise room, built-in washing, and dryer.

The weighted additive is a more intricate compensating rule that takes into account

the relative significance of each product attribute. In order to choose the product

with the greatest overall score, the consumer must accomplish the more

challenging process of computing a summated weighted score for each product on

the salient features.

Non compensatory decision rules, in contrast, do not assess all characteristics and

decide whether the positives exceed the downsides. Instead, if a product falls short

of a minimal requirement for a critical characteristic, it will not be taken into

consideration. The customer establishes minimum acceptable levels for all

significant features using a conjunctive choice rule and rejects any alternative that

does not satisfy all the minimums. This aids customers in reducing their options

for later consideration. If none of the products satisfy all of the cut-off criteria, the

consumer must either adjust the minimums acceptable or change the criteria by

which they make decisions. In the aforementioned illustration, neither of the

apartments would be suitable if the tenant required a pool, gym room, built-in

appliances, and a handy location. Either the buyer will keep looking for the ideal

property or she will lower her criteria.

The lexicographic rule places the attributes in the order of the consumer's

perceived priority. Then, the alternatives are contrasted based on this one crucial

11
feature. One is chosen if it has a high enough rating for this crucial factor. If two or

more candidates are judged to be equally good, they are then contrasted using the

second-most crucial factor.

Until the tie is broken, this procedure is repeated. Because of this, it's crucial to

keep in mind if a tenant claims she chose an apartment because the balcony has

French doors rather than sliding doors after other, more crucial factors were shown

to be equal among apartment possibilities. When buying a house, buyers may

combine many decision-making criteria. They might first apply a rule to reduce the

choice set using a straightforward cut-off, and then they might utilise a more

complicated compensatory rule to make the final decision.

Some criteria are more important than others, and those characteristics will

influence or be more significant in influencing consumer choices. Depending on

the alternatives and how the customer rates them, a characteristic may or may not

be conspicuous. If, for instance, a buyer with young children assumes that all city

neighbourhoods offer similarly outstanding schools, then school quality won't be a

decisive factor in which home to purchase. Determinant features are salient

characteristics that genuinely affect how alternatives are evaluated. The particular

criteria consumers use in their decision making depend on situational influences,

similarity among choices, motivation, involvement, and knowledge.

Decisions involving widely disparate alternatives (a single family detached house,

a mobile home in a trailer park, and a houseboat moored at a dock) may require the

consumer to use more abstract evaluative criteria to evaluate the alternatives. The

more similar the options, the more the consumer can rely on concrete criteria and

price to make comparisons. The consumer’s motivation for purchasing a property

will directly affect the criteria used to evaluate alternatives. Experienced

12
consumers are more likely to know which dimensions are useful for comparing

alternatives. First-time buyers are more susceptible to external influences

determining what criteria they use during decision-making.

The typical consumer may not buy the property that would best suit his needs

because he is uninformed that it exists as a result of the consumer's lack of

knowledge about all available real estate possibilities. Others might not make the

best choices because it might be too complicated to compare all the properties with

all the important attributes. To keep the process manageable, they can use a non-

compensatory decision-making approach.

The real estate appraiser must determine which property attributes are being

utilised to filter properties if consumers are utilising non-compensatory guidelines

to make decisions in order to remove the eliminated properties from the list of

comparable. Otherwise, the analyst might exaggerate how much specific traits

contribute to value. Property developers and managers need to recognize whether

consumers are making decisions based on cut-offs. If a consumer sets an

acceptable minimum as two bathrooms, then any house with only one and one-half

bath would not be considered and a house with three bathrooms may not be valued

any higher than a similar house with only two baths. Similarly, if consumers are

using lexicographic rules, then the property must be perceived to possess a

noticeably higher level of the most important attribute(s) to ensure being selected.

13
 Chapter: - 3

Organization Profile

14
Introduction to the company –

Company profile (ESTATEMINT)

One of the top real estate consulting firms, EstateMint has offices in Mumbai and

Pune. Mudra wedhikar is co-founder, CEO at Estatement and It was founded with

the intention of making the homebuying process simpler for its clients. Our goal at

EstateMint is to help you find happiness since we think that happiness belongs in a

house. In order to provide you with the most comprehensive real estate knowledge

possible and provide you with the skills you need to make wise decisions, we have

created cutting edge technological platforms and research tools. Our research

teams collaborate flawlessly to collect enormous amounts of data and extract

valuable insights from it. We assist clients in properly realising their needs and

comprehending the complicated and dynamic nature of real estate.

Our expert advisory approach has aided numerous clients in making better and
faster decision.

15
We are unique because of our people. We are committed to giving our customers

the finest service possible. We value effort, and we make an effort to provide

thoughtful considerations for your decision-making. In order to be the finest in our

industry, we go through rigorous learning sessions. Instead of acting as your

agents, we collaborate with you to make decisions and are always at your disposal.

We link our objectives with their needs and share their aspirations. We always

want to make sure that our customers know that we will be there for them before,

during, and after the purchase of the ideal home. We cherish our connections.

We are tempted to mention our successful track record of assisting clients in

finding their ideal houses when people inquire about what we do. It is real. We put

a lot of effort into delivering enduring outcomes to support your decision-making

through our analytical and professional approach. These intangibles that set us

apart include our passion, values, people, and processes. We come with a

technology background, and we are driven by analytical approach. We hold

research and data in high regard. Research helps us in ensuring that you get all the

relevant facts to make an informed decision.

As a result, our research team collaborates fluidly to identify patterns, draw

relevant insights, and produce findings that make sense. We store all of the

conclusions, patterns, etc. in our knowledge centre. The entire EstateMint staff has

access to this knowledge base. To keep everyone at EstateMint informed about the

market, we generate internal reports from the knowledge centre. We make sure to

provide you with all the necessary information and insightful analysis so you can

make the best choice.

Company’s objective:

16
We aim to become the favourite real estate portal globally by achieving the highest

possible levels of customer satisfaction. Doorstep service is our way of conveying

our commitment towards making your home buying a hassle free and a highly

satisfactory experience. Doorstep service is not only a mark of our service but also

an important ingredient of our methods.

Our systems and people need more inputs from your side in order to make you

understand the complex nature of your requirements. We help you judge different

properties based on multiple parameters considering various aspects of your life.

Every smile we bring on our customers' faces makes us better and better in

delivering these smiles to you. That's what we are here for; to find your happiness.

Specialities of (ESTATEMINT):

• Real estate

• Real estate consulting

• Digital marketing

• Residential apartments and homes in pune.

• Project consultancy

Why Estatemint?

We are experts in real estate to guide you throughout the property buying process.

We are on your side and choose the best for you keeping in mind your

requirements, budget and future scope of investments.

Why should people look for trusted property?

• For the following reason there is need of trusted property for people.

• One step source for legal, technical and other information of the project of
the developers.

• One step source to judge the available opportunity for purchase of

house/flat/land.

17
 • Authenticity of property of a developer from the 3rd party.

• Safety, security and surety of investment.

• Continues watch on the project.

• Construction stage, home loan availability, special facilities, price

movement, fresh availability etc.

• A unique concept to understand and perform the right of customers.

• Platform to share problem and final solutions.

• Customer forum for each project.

• One step awareness site for Real Estate.

Objective of trusted property

• Create a system where a developer can be differentiated with unknown

developer.

• Where a customer cannot be cheated.

• Where information available for all.

• Developer can demand right price for their products.

• Where investment risk is minimal.

• Were update of project available regularly.

Delivering happiness

We are a passionate group of individuals united by our strong values and our belief

that a home is where happiness is. We at EstateMint are committed to find

happiness for you. Our systematic structures, our data & mathematical models

operate in background in sync with our highly trained and professional consultants

to deliver the delight to our customers.

18
 Chapter: - 4

Literature Review

19
Literature Review
 Inderpreet Singh, (October 2018) in their research paper, entitled “A Study of

Consumer Behavior in Real Estate Sector "they reported that, The Major problem

which the developers are facing now a days is the economic slowdown. Due to

economic slowdown there are lack of customers in the market and this leads to the

reduction in price of the property. Because of this reason it even becomes very

difficult for the small developers to even complete their projects and consequently

buyers feel doubtful about the possesion of the property they had purchase or

willing to purchase. That’s why they wants to deal with major brand developers

instead of smaller brand developers to safeguard their capital.

 Akshay Khurana, (October 2018) in their research paper, entitled “Study of

Consumer Behavior
Towards Real Estate Sector Post Demonetization” they reported that, The

emergence of RERA (administrative body of real estate) and subsidy program for

middle income group customers is a sigh of relief from customers point of view

but government failed to come up with major sector specific reforms in terms of

lowering down of interest rate and relief to builders and real estate developers in

areas of availability of finance for builders and easier terms and conditions.

Demonetization promoted digitization and fairness in working culture of this

sector but cash crunch reduced customer side sales and developer specific

working capital.

 K. Saratbhai, (2015) Future Directions in Real Estate Research, in their research

paper, entitled
“Journal of Property Valuation and Investment”, they addresses that, how real

estate has performed as an investment, the efficiency of real estate markets,

valuation issues, the pricing of contract contingencies, prices and price setting and

20
 the agency business. Concludes that the list of research questions is growing and

there is a high level of both public and private sector interest in the answers that

can be provided.

 W. Bhatt, (2013), in their research paper, entitled "A different look on risks by

property investments", they reported that, aims to focus on three points of the

theory about property investment risks: the management risk is not taken into

account; the assumed regularity of the damping of the specific risks with an

increase in the number of investments; and the assumption that the market risk is

constant. There are three risk component within the risk profile instead of the

named two, namely: specific risk, depends on special individual factors of the

investments; management risk, reflects the span of control problem of the

organization of the investor; and systematic risk, depends on distinguishing local

levels. The calculations do show the effect of diversification, but not in all cases.

It depends on the order in which assets associated with different risks are added.

Moreover, management and systematic risk work cumulative and opposed to the

diversifying power of the specific risk because both increase with increasing

portfolio size.

 James A. Graaskamp, (2014) in their research paper, entitled "Fundamentals of

Real Estate Development”, “Journal of Property Valuation and Investment”, they

observed that, the real estate development process involves three major groups – a

consumer group, a production group and a public infrastructure group. Comments

that a major limitation shared by all groups is that each has a cash cycle enterprise

which must remain solvent to survive. Concludes that the best risk management

device for the producer group is through research so that the development product

21
 fits as closely as possible the needs of the tenant or purchaser, the values of the

politically active collective consumers and the land use or the ethic of the society.

 Inderpreet Singh, (October 2018) in their research paper, entitled “A Study of

Consumer Behavior in Real Estate Sector "they reported that, The Major problem

which the developers are facing now a days is the economic slowdown. Due to

economic slowdown there are lack of customers in the market and this leads to the

reduction in price of the property. Because of this reason it even becomes very

difficult for the small developers to even complete their projects and consequently

buyers feel doubtful about the possesion of the property they had purchase or

willing to purchase. That’s why they wants to deal with major brand developers

instead of smaller brand developers to safeguard their capital.

 Levy, D., Murphy, L., & Lee, C. K. (2008) have discussed the customers purchase

decision of buying a house is embedded within a set of economic and social

cultural processes towards operationalised within specific local property market.

The author made an attention to focused the customers purchase consideration to

buying a housing property with different parameter and that are house prices,

lifecourse and demographic influences on the decision to buy, but less attention

has been directed to understanding the internal family decision-making process

also plays a significant role.

 C. P. Senthil Kumar, M. Karthiga Priya (December 2019) in their research paper,

entitled “The Role and Perception of Customer on Buying Behaviour towards

Real Estate Industry” they observed that, Those real estate places which yield

more economic considerations within the stipulated time should be given

22
preference among the individual investors and return seekers to have better source

of investment. The real estate industry provides higher earnings to the buyers

across the country to have better investment decisions and economic growth.

Thus, leads to higher industrial growth, enhancement in socio economic

conditions, strengthening the financial system, increase in financial leverages and

lending among the individuals through different types of financial institutions in

India.

23
 Chapter: - 5
Objectives and Scope of the Project

24
1. Title of the project-

Study on Factors Affecting Consumer Buying Behaviour while

purchasing Residential Property.

2. Different objectives behind conducting this project.

1. To Study the demographic profile of respondents.

2. To promote the property to the customers.
3. To understand the market of different areas.
4. To present the future constraints of real estate investment in India.

25
 Chapter: - 6

Research Methodology

26
Market research

Market research is systematic problem analysis model building and fact finding for
the purpose of important decision making and control in the marketing of good and
service.

The research process can be said to be circular over a period of time. exploratory
research may be define hypothesis that are their tested verified by conclusive
research but in the latter process the conclusive research may develop new ideas
opportunities of new difficulties.

With the ever increasing complexity of marketing and business activity, market
research has also increase complexity. Today carrying out research relating to
customers products and market require specialized skills and sophisticated
techniques market research has emerged as highly specified function of marketing
management.

1)Research Plan

While developing the research plan following points where taken into
consideration data sources, research approach, research instrument, sampling plan
and contact method. So that information can be gathered in most effective way.

2)Data sources

After identifying and defining the research problem and determining specific
information required solving the problem, the researcher task is to look for the type
of source of data, which may yield the desired results. There are two types of data
available to researcher, these are:-

 Primary Data

 Secondary Data

Primary Data are generated when particular problem in hand is investigated by

researcher employing a mail questionnaire, telephone surveys, Personal interview
etc.

27
Secondary Data on the other hand includes that data which is collected from some
earlier research work and is applicable or usable in the study the researcher has
presently undertaken

3) Research Approach
There is various research approaches for collecting Primary data. But according to
the need of project, survey was selected as research approach.

4) Research Instrument

The research instrument used in the study was structured questionnaire. While
designing the questionnaire care has been taken in formulating & sequencing the
question so that it allows logical thinking process for the respondent. Use of both
close ended & open ended question was made so that Analysis become easy &
responded can freely answer to question

Sampling Plan

1) Sample Unit
Individual distributors and retailers were selected as a sample Unit. That also
included the existing current a/c holders.

2) Sample size
The targeted sample size was 100 respondents i.e. Customers in Pune area

3) Sample Technique Method

Sample was selected at a random basis for as regarding to current account was
approached by visiting the various individual distributors and retailers and also
some companies. Regarding to other samples was approached in the bank.

4) Contacted Method
The contacted Method used in the study was personal Interview of the respondent
i.e. Distributors and retailers.

5) Analytical Tools
Simple statistical tools have been used in the present study to analyze and interpret
the data collected from the field. The study used percentiles method and the data
are presented in the form of table and diagrams

28
Steps of Research Methodology:
1) Objectives Of The Project

2) Reserch Design

3) Determining The Sources Of Data

4) Sample Design And Sample Size

5) Data Collection Forms

6) Research Limitation

29
Chapter: - 8

Data Analysis

30
1. Do you think real estate developers give possession timely?

a) Yes ( ) b) No () c) Can’t Say ()

Table :8.1

Particulars Percentage

Yes 60

No 30

Can’t say 10

Figure 8.1

10

30

60

Yes No Can’t say

Interpretation

Real estate developers have planned their work properly. Their calculation is most
probably always correct because they are directly in contact with the

31
 2. How much are you satisfied from real estate marketing information
provided by real estate companies?

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

e) highly dissatisfied ()

Table 8.2

Highly Satisfied Neutral Dissatisfied Highly

Satisfied dissatisfied

35 22 10 15 18

40

35

30

25

20

15

10

0
1
highly satisfied satisfied nutral dis satisfied highly dis satisfied

Figure 8.2

Interpretation

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

32
3.Which area do you prefer?

Table 8.3
Aundh Baner Hinjewadi Wakad

10% 25% 20% 45%

Figure 8.3

50
45
40
35
30
Aundh
25 Baner
20 Hinjewadi
15 Wakad
10
5
0
Aundh Baner Hinjewadi Wakad

Interpretation

In the above analysis it is interpreted that people prefer maximum Wakad area as
compare to Aundh, Baner and Hinjewadi.

33
 4 .What source of information do you prefer while buying/ searching for a
property?

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

d. Personal Reference () e. Broker ()
Table 8.4
Particulars Percentage
Print and media 12

TV &Radio 5

Internet 20

Broker 55

Personal Reference 8

Figure 8.4

8% 12%
5% Print &Media
TV& Radio
Internet
20%
Broker
55% personal refernce

Interpretation

Here we get to know that people prefer Brokers/Consultant for purchasing a

property. They also prefer searching through Internet and Print media for better
options. Very few people would search and go through TV & Radio and other
sources.

34
 5) May I know your estimated budget?

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

Table 8.5

Particulars (in lakhs) Percentage

<50 25

50-70 40

70-1 cr 20

>1 cr 15

Figure 8.5

45%
40%
40%

35%
<50lacs
30%
25% between 50 to 70 lacs
25%
20%
20%
between 70 lacs to 1 cr
15%
15%
>1cr
10%

5%

0%
<50lacs between 50 to 70
between 70 lacs to >1cr
lacs 1 cr

Interpretation

The budget is something which matters a lot for customer. A proper estimated
budget can make things easy for short listing the properties from a huge market.
Budget plays a key role while purchasing a property.

35
 6) Do you think real estate web portal bridges the information gap between
the real estate developers and customers?

a. yes ( ) b. no ( )
Table 8.6
Yes No

75 20

Figure 8.6

80
75

70

60

50

40

30

20
20

10

0
YES NO

Interpretation

Real Estate developers firstly understand the demand and need of customer from
which the information gap is reduced between them. Real estate developer reduces
customer work and makes work done easy for customers. While on other side,
customer is not aware of the builder and all other details.

36
 7) Does the company give the loan assistance by any bank?

a. Yes ( ) b. no ( )

Table 8.7
Yes No

85 27

Figure 8.7

90 85

80

70

60

50
Yes
40 No
30 27

20

10

0
Yes No

Interpretation

Loan assistance is must. Builders provide loan assistance from few banks but the
company makes it more flexible for a customer by providing loan assistance from
maximum banks

37
8) Are you satisfied with the services provided by the Estatement Properties
Pvt Ltd?

Highly Satisfied Neutral Dissatisfied Highly Total

Satisfied Dissatisfied

35 38 10 9 8 100

50

45
38
40 35

35

30
Highly Satisfied

25 Satisfied
Neutral
20 Highly Dissatisfied
Dissatisfied
15
10 9
10 8

0
Highly Satisfied Highly
Satisfied Neutral Dissatisfied
Dissatisfied

Interpretation

The analysis shows everything, maximum customers are satisfied with the services
provided by us because employees understand the customers need and puts all his
efforts for fulfilling their need.

38
9) While purchasing the property what attracts you more?

a)Locality b)Connectivity c)Price d)Brand image e)others

Table 8.9

Locality Connectivity Price Brand Image Others

30 20 25 15 10

Figure 8.9

10%

15%

30% Locality
Connectivity
Price
Brand Image
Others
25%

20%

Interpretation

As everything is equally important but the analysis pretends us that customer gets
more attracted through locality first and then price, connectivity, brand image and
all comes into place.

39
 Chapter: - 8

Findings & Suggestions

40
 FINDINGS

From the questionnaires:

• Majority said that they wanted to get rid of the brokers.

• Some said they wanted the Developers to display their complete
information online and to the customers.
• The main preference to buy the flat in the society was the infrastructure and
price of the flats.
It was observed that the services provided by the Estatement Properties Pvt Ltd

• most of the customers are neutral (neither satisfied nor dissatisfied).

• There were people who wanted Hidden costs to be absent.
• Some wanted to get rid of the false promises.
• Almost all of the people wanted that the Developers should show
transparency and provide them with each and every form of information
which they wanted.

41
SUGGESTIONS

Suggestions to Estatement Properties Pvt Ltd. –

• First and foremost, the database generated through the project should be put
to effective use through continuous follow-ups to the potential customers.
A follow-up should be made on the industry potential as a whole as well.

• Company should provide information according to people’s need and

necessity. And for that they can open daily polling on their web portal.
• Company should not always try to attract the new customers only, but
should also take feedbacks from existing once, and try to remove their
problems and learn from their experience.
• Company should make more contact with contractors and Architects to tap
more builders.
• Company should update its customer’s database once in a month.

Suggestions to customer –

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

Suggestion to Project Developer (Builder) –

• Builders should show their legal and technical documents to the customers,
to make them satisfied because most of the customers want to check it and
this also helps in creating a unique identity of the developers.

42
Chapter: - 9
Conclusion

43
Conclusion:

• There are vast applications of control valves in the process industries such
as textile, food and beverges, rice, pharmaceuticals. This market is growing
very rapidly and hence Forbes Marshall have a huge opportunity to expand
its business in this sector.

• In tyre industry, though the PID based temperature control valves are
generally not used but FM still can expand its business in that industry by
selling their other prducts such as piston actuated control valves(on/off).

• There are many competitiors local as well as international in this sector.

They provide number of products in the same range of applications. But
Forbes Marshall can take lead in this market with the help of their quality
products and better after sales service as the minimum payback period is
very low and the savings the customer can get by using FM’s product is
much better.

44
Chapter: - 10
References

45
Referred Books:

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

Referred Websites:

 www.magicsbrick.com
 www.99acres.com
 www.indianrealestateforu
m.com
 www.scribd.com
 www.estatementproperties.
com
 www.propertywala.com
 www.indiantimes.com
 www.businessstandard.co
m
 www.economicstimes.com

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