SUMMER TRAINING PROJECT REPORT ON

CUSTOMER AND POTENTIAL CUSTOMER PERCEPTION & MARKET SURVEY OF REAL ESTATE BUYERS
Prepared and Presented to

Under the guidance of

Mr. Ashish Kumar Mishra Assistant General Manager Shri Group

Submitted in partial fulfillment for the award of degree of Master of Business Administration from Uttar Pradesh Technical University, Lucknow BY

Amit Kumar 1212470013

INSTITUTE OF CO-OPERATIVE & CORPORATE MANAGEMENT, RESEARCH AND TRAINING

21/467, RING ROAD, INDIRA NAGAR, LUCKNOW-226016

ACKNOWLEDGEMENT
I owe a great many thanks to a great many psseople who helped and supported me during the writing of this project. My deepest thanks to Mr.RAJESH KUMAR SINGH the Guide of the project for guiding and correcting various documents of mine with

attention and care. He has taken pain to go through the project and make necessary correction as and when needed. I express my thanks to the Principal of, INSTITUTE OF CO-OPERATIVE & CORPORATE MANAGEMENT, RESEARCH AND TRAINING, LUCKNOW, for extending his support. My deep sense of gratitude to Mr. ASHISH KUMAR MISHRA (AGM-MARKETING & SALES), SHRI GROUP, MATHURA support and guidance. Thanks and appreciation to the helpful people at SHRI GROUP, MATHURA, for their support. I would also thank my Institution and my faculty members without whom this project would have been a distant reality. I also extend my heartfelt thanks to my family and well wishers.

Date:

AMIT KUMAR

(Signature)

DECLARATION

I hereby declare that the project work entitled CUSTOMER & POTENTIAL CUSTOMER PERCEPTION & MARKET SURVEY OF REAL ESTATE BUYERS submitted to the INSTITUTE OF CO-OPERATIVE & CORPORATE MANAGEMENT, RESEARCH AND TRAINING is a record of an original work done by me under the guidance of Mr. RAJESH KUMAR SINGH and Mr. ASHISH KUMAR MISHRA and this project work has not performed the basis for the award of any Degree or diploma and similar project if any.

AMIT KUMAR 1212470013

PREFACE
The Summer Internship Program forms an important component of education at ICCMRT, Lucknow. It is an attempt to bridge the gap between the academic institution and the corporate world. It provides us an opportunity to apply the concepts learnt in real life situations. The summer internship helps us in exploring our skills and capabilities. This internship program makes a mark of hard work, sincerity, knowledge and ethics on the host organization. It would also be a great learning experience since it enables us to apply theory to practice and observe and learn the current trends in the market. It provides an opportunity for us to satisfy our inquisitiveness about corporate, provides exposure to technical skills, and helps us to acquire social skills by being in constant interaction with the professionals of other organizations. It helps us in developing a network, which will be useful in enhancing in career prospects. This will help to gain a deeper understanding of the work, culture, deadlines, pressures etc. of an organization. Thus, it helps to develop the qualities of a Manager by involving teamwork, goal orientation and managing interpersonal relationships and by creating awareness about strengths and weaknesses in the work environment.

TABLE OF CONTENT S.No.

1 2 3 4 5 6 7 8 9 10 11 12

Particulars
Company profile Objective of study Introduction of topic Review of literature Research methodology Data Analysis and interpretation Results and Findings Suggestion/Recommendation Conclusions Limitation of study Appendix/ Annexure (Questionnaire) Bibliography

PAGE NO
7 - 36 37 - 39 40 - 47 48 - 68 69 - 79 80 - 104 105 -107 108 - 110 111 - 112 113 - 114 115 - 116 117 - 119

CHAPTER 1
COMPANY PROFILE

Company

Tracing back to the sands of time, in 1931, the founders of SHRI Group - Lt. SHRI Shri Nath Prasad & SHRI Jamuna Prasad started with commodity trading- eventually expanding by setting up petrol-pumps and manufacturing packaged drinking water (Taza Pani).

SHRI Group is a prominent name in the real estate arena since 1998. With its headquarter in Mathura, the realty firm has a total of 12, accomplished and on-going, residential projects. While 4 commercial undertakings are on the verge of completion/have been completed, many other projects are still taking form as their blueprints are being chalked out. As of now, an extensive land cover is under SHRI Group's possession with farfetched developments in Tier-II cities such as Kanpur, Lucknow, Nasik, Noida and others.

With numerous residential societies and an awe-inspiring shopping arcade, the realty firm is well-established within Mathura. SHRI Group has come up with mammoth size hotels and colonies in the Braj region, namely- Vrindavan and Goverdhan. SHRI Group has taken a big leap by coming up with a self-sufficient township in Greater Noida which in

turn has fetched positive limelight to the enterprise. We bring about uniformity in all our ventures through means of landscaping and innovation makes them unique.

SHRI Group was launched with the desire to create 'Prosperity for all'. Ever since, all our endeavours aim at fulfilling our goal by means of affordable housing yet lavish environs. SHRI Group is the most ancient real estate company in Mathura and has emerged as the brand name for contemporary Mathura ('New Mathura') over the past decade

Vision and Mission Mission

We follow a tradition of personal and professional integrity to provide people with the best of facilities, luxurious amenities and salubrious environments. Flawless designing, quality construction and superior specifications are the major thrusts for this real estate investment company.

Vision
Our vision is to gain the loyalty of our customers by delivering more cost effective projects. Our vision is to gain complete customer satisfaction. We followed this thumb rule from the beginning and for this reason, our virtues have traveled through generations and we have established a gigantic corporate image.

Goal
At SHRI Group, we follow a tradition of personal and professional integrity. We have set high standards for ourselves and are determined to reach our goals without compromising our values and beliefs.

The main objective of SHRI Group is to provide more and more innovative as well as eye-catching projects with magnificent and modern lifestyle amenities.

Philosophy
"Our philosophy is to serve prosperity for all". At SHRI Group, we are guided by the philosophy of collective growth. As a corporate entity, all our actions and thoughts are directed towards our customers, our associates, our employees and the community at large; ensure prosperity for all of those who are touched by our endeavors.

We work to build a better tomorrow for all. We work to bring prosperity for all.

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MANAGEMENT Management team

Mr. Pradeep Kumar Agrawal, Managing Director

He is a visionary in the true sense of the word- with a vision that transcends all boundaries and all conventional business principles. He is carrying forward the legacy of his ancestors by truly upholding the core values of the family business. Under his astute leadership, this 80 years old Group has emerged as a diversified conglomerate with the interests in housing, infrastructure development, petroleum trading, packaged drinking water etc. He built his business model on the principles of ethics, spirituality and transparency. He is a leading light to the industrialists in and around Agra-Mathura region to whom others look up to. He is also associated with number of social, educational and religious bodies and continues to serve the society in his inimitable style.

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Mr. Sudeep Kumar Agrawal, Director

He is associated with the Group for the last 25 years and currently Looks after conceptualization and planning of Projects. He brings in a complete dynamism to the table and inspires the team members to achieve even impossible things. His proactive, intense and personalized approach to business along with his entrepreneurial skills and innovative ways to do the business are the main catalysts to the growth of the group.

Mr. Suresh Chand Kaushik, Director- Administration

He Holds a Bachelor's Degree in Commerce and has over 30 years of successful experience in trade and Real Estate Business. His areas of interest are Public Relations and Marketing Management. Developing relationships with customers and senior stake

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holders with equal ease with his own affable style, is his main strength. He is well known person in the real estate circles in North India.

Mr. Ram Agrawal, Director - Sales & Marketing

He Holds a bachelor's degree in commerce and Law has over 15 years of experience in Real Estate Industry. He involves himself in the areas of identification of land, land acquisition, Government approval and Marketing. He is having excellent public relation skills and is a leading personality in the real estate business.

Mr. Shekhar Agrawal, Director

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Holds Master's degree in Business Administration and looks after Sales and Marketing activities of group. He brings in his innovative ideas and exuberance to the Group.

Mr. Harish Arora, Director - Project & Administration

Harish, 45, is a coveted Engineer with several years of experience having held various positions in different industries among which is one of the most distinguished Public Sector Undertaking, HPCL. He has more than 2 decades of experience in the areas of Operations, Marketing, Branding and Business Development. He brings in his unique qualities of 'eye for the details' and 'razor sharp observations' to the table and is a very valuable team member of the Group. He is an alumnus of IIT, Roorkee where he completed his Civil Engineering in 1988.

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Mr. Amit Handa, Executive Director

He is a young and Energetic Marketing expert and a well-known name in the real estate sector. His 12 years of experience includes stints as VP (Sales & Marketing) with one of

the leading names in Real Estate Sector and had a significant contribution in increasing market share there. He has excellent communication skills and he brings in innovative ideas in marketing and takes full responsibility of sales function.

Amit has a MBA degree and is also a recipient of Prestigious Gallantry Award (Jeevan Rakshak Padak ), which was awarded by President of India for saving lives of 30 students.

Mr. D.K. Mahle, VP - Admin. & HR

He is having more than 40 years of experience. He worked at Senior level in Uttar Pradesh Finance Corporation (UPFC) looking after Finance, New Projects, Legal and overall Human Resources & Administration issues. He retired as one of the Top Management team member of UPFC in 2004 and since then he had very active corporate

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life in senior positions in various institutions such S G T Dental College, Gurgaon, South Asian Enterprises Ltd New Mathura(as a Resident Director) for five years looking after their major projects and product promotion.

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RESIDENTIAL Shri Jamuna dham. mathura

A residential complex sprawling over 4.83 acres & 86 Houses Situated at the main Goverdhan Crossing, 68 independent single and double storeyed villas Mathura's first Gated Complex with 100% power back-up Mathura's first abode of organised living data.

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SHRI Radha Puram, NH-2 Mathura

SHRI Radha Puram, completed in 2003, is an integrated township of independent flats with all necessary modern amenities. It is strategically located on NH-2.

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SHRI Radha Orchid, Mathura

The magnificent residential township sprawling over 26 acres of greens where life blossoms Situated in the heart of Mathura 311 no. of plotted development Gated complex with all modern facilities catering individual preferences

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SHRI Radha Puram Estate, Mathura

SHRI Radha Puram Estate has opened the gates of never before opulence in Mathura. The citizens of this holy city will soon be able to experience the best of facilities and amenities set in the most luxurious and salubrious environment. Limited edition designer villas with modern and rich looks will change the Mathura skyline forever. Landscaped surroundings, concrete and completely lit roads, tree lined avenues and all lifestyle essentials will become a permanent feature of Mathura.

SHRI Radha Puram Estate is also be a benchmark when it comes to architectural excellence and designer essence. Each 2 bedroom Estate home is handcrafted to provide and offer the best of all worlds under one roof. Spacious rooms, comfortable balconies, and ample breathing area all add up to deliver only the upper crest. Apart from luxurious homes; Club, landscaping and other details are a product of total professionalism.

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COMMERCIAL SHRI Group's Highway Plaza

Delhi-Agra main NH-2, Near Goverdhan crossing, Mathura.

SHRI Group's Highway Plaza, a world-class shopping mall, located on the main DelhiAgra National Highway in Mathura, is an outstanding story of success. It is the first operational real estate destination on NH-2 and within a very short span of time, has become a landmark in itself. In fact Highway Plaza is not just any other mall. It is the innovative concept of an integrated shopping, eating and entertainment hub built on an inter-state highway a concept that has been introduced in India by SHRI Group. Propelled by the grand success of its model project, SHRI Group now plans to develop approximately many more highway plazas on different National Highways all over the country.

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SHRI Radha Brij Vasundhara, Goverdhan

It's not just about 'Darshan' or 'Parikrama', it's about the divine experience of spending moments with the Lord. SHRI Radha Brij Vasundhara, spread at the feet of "Goverdhan Parvat" is furnished with all these experiences and more.

Devout environs, luxurious cottages, high end recreational & de-stressing facilities, lush green set ups, yoga and meditation services for physical as well as spiritual enlightenment, a golf course, club, refreshing swimming pool, well equipped gym, multi cuisine restaurant, etc. fill your senses with pleasure and grant incredible contentment, absolute ecstasy & endless serenity.

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SHRI RADHA FLORENCE IS READY TO BE OCCUPIED

October 19, 2013Affordable Housing, Goverdhan, Italian Architecture, Real Estate, Shri Group,SHRI Radha Florence Vrindavan, known as the land of Lord Krishna, bears massive worth for the tourists as well as for the inhabitants in terms of belief and spirituality. There are various places in and nearby Vrindavan where the divine resonance of Lord Krishna can be felt. But the absence of superior recreational spots or residential projects has always been an eyesore. To surmount this, Mathura Vrindavan Development Authority as well as private developers are eagerly interested in the infrastructural facelift of the region. Their major goal is to infuse fervor in the visitors and encourage them to make investments in the budding projects around the region. SHRI Group, one of the most trusted names in real estate scenario, is back with another remarkable project by the name of SHRI Radha Florence in Vrindavan. SHRI Radha Florence offers spacious simplex and duplex villas and plots for those who desire a little more freedom and little more space to themselves. People who acquire properties here are sure to experience the world of independent living, that too at down to earth prices. Also, developers are taking care of the ecodevelopment that consists of water harvesting, greener and cleaner surroundings, prohibition of automobiles within the complex and making use of battery operated carts. With these developments taking place at a quick rate, prospective residents are able to

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benefit from the quality of life life that is extremely contented. Chief highlights of this outstanding project by SHRI group are: Round the clock security Reliable Power Backup Swimming Pool Club House Gymnasium

Leave a comment SHRI Radha NRI Greens: Holiday in the lapse of Nature! October 17, 20133-Bedroom, Affordable Housing, Italian Lifestyle, Property

Investment, Real Estate, SHRI Radha NRI Greens After the glorious launch of SHRI Radha Puram, SHRI Jamuna Dham, SHRI Radha Orchids, SHRI Radha Puram Estate and SHRI Radha Town, we are now launching our new project: SHRI Radha NRI Greens at Vrindavan. SHRI Radha NRI Greens is the idyllic choice providing an exceptional combination of opulence, leisure and divinity along with an elaborate array of services and amenities to please the travelers with exotic taste.

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SHRI Group has a vast experience in the real estate industry and very skillfully utilizes this storehouse of knowledge to endow the populace with an ultra modern lifestyle through a project like SHRI Radha NRI Greens. This residential project is very advantageously located at a walking distance from both Banke Bihari and Iskon Temple. SHRI Radha NRI Greens is a unique project in its concept and aesthetic sense since it lays foundation on the pious land of Vrindavan. The unique project is a dream come true for those who desire a harmonious life filled with the peace and purity, which is somewhere lost in the hustle-bustle of the metro cities. Its a masterpiece which speaks of divine involvement in compliance with contemporary architecture. SHRI Group welcomes you to experience the serene surroundings of SHRI Radha NRI Greens and let our genial hospitality, luxurious style and values make your visit really memorable, one which is sure to exceed all your expectations.

SPECIAL FEATURES
1. Entrance lobby with water bodies and scenic areas 2. 24X7 Power backup and security 3. Infinity swimming pool 4. Pool with tough and supple landscaping 5. Health Club with Sauna room, Steam Room, Jacuzzi, and gymnasium.

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6. Gathering area: 5,000 square feet. 7. Card room, Billiards or Snooker room. 8. TV Lounge with home theatre 9. School, primary health care centre, beauty salon, renowned departmental stores, internet cafe, coffee shop etc. Leave a comment SHRI Radha Golf: Yours Dream, Your Home! October 13, 2013Affordable Housing, holiday destination, holiday home, Italian

Lifestyle,Krishna Radha, Property Investment, Real Estate, SHRI Radha Golf If your heart is wrenching to go back home, its time to return to a place of solace - not to a swarming, polluted metropolis, where all facilities come at a premium or are sadly nonexistent, but to a calming, inspiring place. The twin cities of Mathura and Vrindavan not only attract devotees in large number but are now drawing home seekers who want to possess a dwelling in serene surroundings without compromising on the need for modern facilities.

Because of the saturation in Mathura and NCR, people now wish to set foot on Mathura and Vrindavan in the search of harmony and gratification. The existence of numerous ghats along the Yamuna with striking temples makes it a good holiday destination. And

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to satisfy the desires of the home seekers, SHRI Group is coming up with various residential projects. Situated strategically, just a few kilometers away from Vrindavan town and outfitted with inconceivable amenities for modern living, SHRI Radha Golf is the ideal spot for a spiritual retreat, or a second home, where coming back seems to be an appealing idea. The most noticing feature of this project initiated by SHRI Group is that it is the first ever residential theme complex in the Brij region with a golf course within the compound. Though material gain may not be on your mind, it may be motivating for you to know the fact that that the value of your home is appreciating and is expected to rise at rates, significantly higher than metro cities. SHRI Radha Golf is like a mini township incorporating all the modern amenities and accessories like exotic flooring, generously designed interiors, world-class attachments and fittings, security camera scans etc. The proposed township will be a merge of modern and spiritual living where people can experience proximity to the Lord. Leave a comment SHRI Group: The trusted name in Real Estate Business October 9, 2013Affordable Housing, Goverdhan, Highway Plaza, Italian

Architecture, Property Investment, Shopping mall The legendary name famous for its top-notch real estate development, SHRI Group was a brain-child of the visionary businessmen Late Shri Nath Prasad and Late Shri Jamuna

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Prasad and initiated its journey way back in 1931. Speedily budding, SHRI Group has grown to become a leading provider of premier lifestyles. Steered by the belief of communal growth, SHRI Group has been shaping landscapes and lives in the Mathura region since its inauguration. SHRI group has successfully accomplished five residential and one commercial project covering over 112 acres of land in Mathura, Noida, Delhi, Gurgaon, Pune and Baroda etc and has several residential ongoing projects covering roughly 171 acres of land. SHRI group believes in crafting ultimate residential complexes through novelty, professional construction techniques, and finest materials without compromising on quality. The companys ground-breaking ideas with adaptability to shifting market trends deliver supreme residential complex. SHRI Group be lives in offering living conditions which are outstanding in nature and yet reasonably priced. The group employs the most sophisticated technologies to present all the modern day facilities and finest construction qualities. SHRI Group is shaping lives through its pioneering, state-of-the-art architecture and latest technology in the real estate Industry.

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SHRI Group has productively completed a variety of commercial and residential projects with a view to set a special trend in providing integrated real estate projects. Moreover, its current projects visibly speak of style, class and comfort. Thus, the basic notion of SHRI Group is mainly about creating a difference to the living styles of the populace./8 The group boasts of a team of extremely experienced engineers, well-known architects, and competent management professionals. The group has been around for almost eight decades and believes in superior quality services and timely possession to customers. The company has built an unsurpassed reputation of delivering inimitable infrastructure facilities at reasonable prices, thereby sticking to its philosophy of building a better tomorrow and prosperity for all. Leave a comment SHOP TILL YOU DROP: HIGHWAY PLAZA MATHURA October 5, 2013bachoomal, buying, Cafe joints, gold Coffee Day, dominos, ecoactivities in

friendly, environment, food Mathura, restaurant, sale

cinema, recreational

SHRI Groups Highway Plaza located on Delhi-Agra Highway, on NH-2 in Mathura is a first-rate shopping mall and is and is a symbol of the astounding success story of SHRI group. This first mall project in the city a concept that has been initiated in India by SHRI Group, has become a landmark in itself. Highway Plaza is in close vicinity to

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Goverdhan, Mathura, and Vrindavan and draws the devotees and travelers either visiting the city or passing through NH-2. Opened in 2005, this is the only mall on NH-2 that is operational as of now. Highway Plaza is not just any other mall but is the pioneering idea of an integrated shopping, eating and entertainment center erected on an inter-state highway. Driven by the imposing success of its model project, SHRI Group now plans to expand its horizon and build many more highway plazas on other National Highways throughout the country. Highway Plaza is a shopping centre concept from one of the leading real estate developers SHRI group, where malls of substantial size are being built adjoining the national and state highways for the expediency of the highway shoppers and those in the neighborhood. Covering an incredible area of 6,384 square feet, the mall boasts of legendary real estate brands including Caf Coffee Day, Pizza Hut, Provogue, Archies and many more. These premium real estate brands draw considerable number of the travelers who mainly stop at eating joints and thus prove to be the major crowd-puller for the mall. This Highway Plaza at Mathura unlocks another success story of the celebrated SHRI group and adds to its glory. Leave a comment September 26, 2013eco-friendly, environment, holiday destination, holiday home, Shri Group,SHRI radha brij vasundhra, Villas, Vrindavan More about SHRI Radha Brij Vasundhra

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Situated amidst the unexplored wilderness, we invite you to come and explore SHRI Radha Brij Vasundhra. The resort is in close proximity to Parikrama Marg, Goverdhan. The approach to SHRI Brij Vasundhra involves a drive along the countryside. Ones personal vehicle are not permitted beyond the entrance gate. After a mandatory security

check is performed by the guards, pollution-free polo cars are used to take the visitors around the campus. Once you enter the premises, the green colour predominates. Right away, the landscaping will lure you into the temptation to explore more. The contemporary style and planning of this resort will for sure leave you in awe.The very sight of the exotic cottages will sweep you off your feet. The golf course is enthralling. The indoor swimming pool with temperature regulation instills a sense of delight. The in-campus multi-cuisine restaurant is definitely a treat to the taste buds. The main door of the villa opens into the spacious living room. Bullet-proof glass sheets serve as the fourth wall of common rooms in each cottage. You can enjoy being in the lap of nature by simply stretching and relaxing your body underneath the sun. You need not worry about the sun tan because its the in thing. High temperature is also not a concern because the place is about four- five degrees less hot than the city. Even then if you do not wish to expose your skin, you can always sit back in the air conditioned living room and embrace natural beauty.

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If youre not much of an environment enthusiast, you can always enjoy the luxury around. Free HDTV service, clean linens, stylish furnishings, laundry services and the generous staff each of them make you feel at home.

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THE PERFECT DESTINATION TO GET AWAY FROM THE MONTONY OF LIFE

Accredited with 7 star status by the CRISIL Real Estate Star Ratings agency, the foundation of this project was laid in April, 2004. In recent years, the project sought popularity not only amongst the elite business class but also served as a holiday home to many non-residents of India and nature lovers. To complement the location, SHRI Radha Brij Vasundhra has a green cover of more than eighty percent. The villas include a land cover as little as thirteen percent of the total area. The resort has good connectivity by well-laid out roads, the railway station and the airport are not too far. Utmost care has been taken to avoid any inconvenience to the visitors. Leave a comment

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September

17,

2013cottage, eco-friendly, Goverdhan, holiday

destination, holiday

home,resort, Shri Group, SHRI radha brij vasundhra, Villas

SHRI Radha Brij Vasundhra

Highway plaza *A Paradise for Shopaholics and Foodies* (Accredited 7 star status by CRISIL)

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Only if one didnt plan to walk through the winter chills while he shopped, he needed to step out in the summer heat and buy stuff under the scorching sun that is how tedious a task shopping was, in Mathura. If it was not for Highway Plaza, the affluent class must have continued to flock to the Mathura MATHURA region and others had no option but to slip bucks away from their sweaty/numb hands under the aforesaid harsh climatic conditions. SHRI Group conceived Highway Plaza in the year 2003. It is indeed a matter of pride that the iconic film actress, Mrs. Hema Malini, inaugurated the two storey air-conditioned mall. While the beauteous exteriors are awe-inspiring, the magnificent ambience and the most talked about feature-the sunroof- is one that you can gawk at for hours at a stretch. Are you running late for a meeting and have no time to sit back and have breakfast? Well, just station your car at the drive-in parking, grab a crusher for take-away and get going. Do you find it hard to go on a shopping spree with your toddler? Come to Highway Plaza and buy as many garments as you wish to while your kid enjoys himself at the gaming zone. Budget is not a consideration- from high-end showrooms to the cheapest fabric stores, youve got them all at your disposal; that too under one roof. Haunted house is one place you can never get bored of. Treat your friends with tempting starters at Pizza Hut, order the main course at Dominos and please your taste buds with a brownie with icecream from Caf Coffee Day or if youre too full, simply sip down a cup of coffee while you comfort yourself on a couch the secret why you find all the foodies buzzing the place. We invite you to Highway Plaza to discover more for yourself.

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CHAPTER 2
OBJECTIVE OF THE STUDY

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OBJECTIVES OF THE STUDY

Project has mainly three following objective1. To determine the customers perception about having residential units. 2. To determine the customers expectations from real estate companies. 3. To determine the problems faced by the customers while buying a house.

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SCOPE OF THE STUDY

The project undertaken makes me able to improve my professional skills and expertise. It helps me in getting an idea of Real Estate industry and its importance in our life. It increases my confidence on professional ground by dealing with high profile corporate that are very hard to convince. As a companys benefit is concerned, this project helps company to know its market condition and level of competition. Also it helps in creating awareness to consumers regarding property documents and in promotion of their services.

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CHAPTER 3
INTRODUCTION OF TOPIC

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OVER VIEW OF REAL ESTATE INDUSTRY IN INDIA

Real Estate Industry in India: The size of the real estate industry in India is estimated by FICCI, to be around US$ 12 billion. This figure is growing at a pace of 30% for the last few years. Almost 80 % of real estate developed in India, is residential space and the rest comprise office, shopping malls, hotels and hospitals. This double-digit growth is mainly attributed to the off shoring business, including high-end technology consulting, call centers and software programming houses which in 2003-04, is estimated to have accounted for more than 10 million square feet of real estate development. This is the ideal time to invest in the country as policy makers have begun to emphasize on developing adequate infrastructure for the country. Real estate companies would also do well to maximize their own performance and operational efficiency. The future of the real estate sector in India is going to be guided by two important factors, namely suitable amendments in the Foreign Direct Investment (FDI) guidelines in townships, housing, built-up infrastructure and construction development projects as well as abolition of Service Tax on the construction industry especially the housing sector. Conversely, if the abolition per se is not possible then drastic modifications in the existing Service Tax norms is the need of the hour. This Sector is already overburdened

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with taxes; any further imposition of taxes in any form would adversely affect the growth of this sector of the economy. The importance of the Real Estate sector, as an engine of the nations growth, can be gauged from the fact that it is the second largest employer next only to agriculture and its size is close to US $ 12 billion and grows at about 30% per annum. Five per cent of the countrys GDP is contributed by the housing sector. In the next three or four or five years this contribution to the GDP is expected to rise to 6%. The Real Estate Industry has significant linkages with several other sectors of the economy and over 250 associated industries. One Rupee invested in this sector results in 78 paisa being added to the GDP of the State. A unit increase in expenditure in this sector has a multiplier effect and the capacity to generate income as high as five times. If the economy grows at the rate of 10% the housing sector has the capacity to grow at 14% and generate 3.2 million new jobs over a decade. Furthermore, this sector has witnessed a spurt in demand not just in residential property but also in commercial property. A fast growing area is the I.T. and I.T.-enabled services along with the BPO boom. Estimates worked out show that 42 million sq. ft. of space will be required every year till 2008, only in I.T. and I.T.-enabled services especially in the cities like Bangalore, Chennai, Hyderabad and Pune, which is also now gradually shifting to North India. To achieve the much desired growth and development in the Real Estate Segment, FICCI would like to submit the following 10 points for consideration:

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Infrastructure Status to Housing: Infrastructure status should be provided to housing sector. This will enable easier access to low cost institutional funds as also allow the sector to tap long term funds. Real Estate Mutual Funds: The Government should consider setting up of Real Estate Mutual Funds/ Investment Trusts to provide the much needed support to the cash starved housing sector, similar to the structures adopted for Estate Mutual Funds/ Investment Trusts in developed real estate markets such as, USA, Singapore. Hong Kong etc. Real Estate Mutual Funds/ Investment Trusts would be an efficient mode for providing equity financing as against debt, which is currently the norm for financing real estate developments in India. Stamp Duty: In some States the Stamp Duty is as high as 14- 15 % of the value of the transaction. Astonishingly in the Indian context, not only are the rates high, but also the levy of Stamp Duty is applicable in every subsequent transaction, be it the initial transfer purchase of land or on further sale of the same land after development or any other succeeding transaction. Opportunely some states have brought the Stamp Duty down to between 6-8 %, this should ideally be further brought down to 2-3 % and made uniformly applicable across all states. However, if the above suggestion is not acceptable then if stamp duty has already been paid on one transaction, there should be a mechanism in the law, whereby there is a provision for concession or a system of credit for any subsequent

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transactions. This would avoid the resultant cascading effect of Stamp Duty, thereby reducing the cost of a property. The concept of credit for taxes paid on subsequent transactions already exists in other statutes such as CENVAT, VAT, Minimum Alternate Tax (MAT), etc. Public Private Partnership: There is a need to evolve a regulatory framework that encourages participation of the private sector in bringing technical and managerial expertise in formulating and delivery of basic amenities like water, sanitation, sewerage, transport and electricity. Archaic Laws: Availability of land for housing projects has been constrained by a variety of laws like the Rent Control Act and Urban Land Ceiling and Regulation Act, which must be repealed in all the States. A necessary legal and policy framework has to be put in place to restrict growth of slums and at the same time to re-develop the slums into hygienic and livable. Foreclosure Laws: The existing foreclosure laws are cumbersome as well as time consuming and make it practically impossible for Housing Finance Institutions (HFIs) to repossess a dwelling unit financed. HFIs are reluctant to take risk and continue to land primarily on salaried urban borrowers. Amendment of (National Housing Board) NHB Act has already been initiated. The implementation process needs to be expedited to bring in the required changes.

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Environmental Impact Assessment Notification: The notification specifies that no construction activity to be taken up, inspite of the approval of plans by the Competent Authority, till the environmental clearance has been sought. In cases where approval has already been granted it is suggested that construction activities should be allowed. In the intervening period the builder / developer can obtain the environmental clearance certificate. In the case of the environmental clearance certificate being denied then appropriate action if necessary and warranted can be taken against the developer / builder and builder be given time to get clearance before he applies for completion certificate, otherwise the completion certificate will not be given Furthermore, in the case of future proposed projects the environmental clearances should be taken by the States themselves or by the planning bodies and not b individual builders. Land Acquisition: The Land Acquisition Act of 1894, still, to a large extent, governs the procurement of raw land. With the changing investment scenario it has become necessary to review the existing law, in order to ensure that private developers and colonizers procure the land directly from farmers and land owners without putting undue financial burden on State/ Central Governments on land acquisition for public purposes. Today, a builder is governed by Agriculture Land Ceiling Act even after the land have been urbanized in the zonal plans / master plans. This makes builders to create several companies in order to circumvent the archaic laws. It is submitted that once the land has been urbanized and incorporated in the master plan, then Agriculture Land Ceiling Act should not apply and builders should be permitted to acquire lands as per their requirements, for the development of townships.

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Foreign Direct Investment (FDI): Suitable modifications in the FDI guidelines are required, particularly in repatriation of funds, clarification on the basic definition of built-up area, streamlining of Clearance procedures as well as the opening up of the Real estate Segment to FDI. This aspect has been discussed in detail in Section II of this paper. Service Tax: Service tax in relation to construction of residential complexes having more than 12 houses have been proposed to be introduced as a new service. However, no rationale has been provided for exclusion of services in relation to construction of residential bungalows, which may not form part of residential complexes.

SUBJECT MATTER OF THE PROJECT

Q) What is the meaning of customers perception & expectations while buying a house? Whenever a person goes to buy a house, he is very confused. At that time he doesnt have a clear cut vision of, whether to go for this builder, that builder, which place, genuine price and various other factors. So at that time what is there in the mind of the consumer and what all things he is expecting from the builders, etc. Q) Why study of consumer perception and expectations? Real estate sector is a vital section of Indian market structure. Since a lot of opportunities are available in the real estate sector so there are a lot of companies and Project developer are operating in Indian real estate sector. Then at this junction the understanding of

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perception and knowing the expectations become very much important. So after finding the reason of all these we can provide maximum satisfaction Q) Why did I choose SHRI GROUP? The work culture at SHRI GROUP is based on the fundamental belief that employees are its most important asset. Respect and genuine concern for each employee in the organization is the basic principle on which the organization functions. They believe that by giving mutual respect, recognition, trust, open communication, transparency and opportunities for growth, employees will perform to their fullest potential and will be sincere, dedicated and committed to their jobs. SHRI GROUP offers to their employees a wide range of benefits to make work and life more enjoyable, this includes monetary rewards in recognition of excellent work. to customer.

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CHAPTER 4
RIVEW OF LITERATURE

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REVIEW OF LITERATURE:

NEED OF REGULATORY BODY IN REAL ESTATE Now a day many people are cheated by builder, and since builder are big gun so very few people get justices against builder. It Raises a question - Does our constitution really needs the law. NO!! We already have unlawful Activities (Prevention) Act 1967 and TADA in 1987. `Similarly we have laws but........the same story. Nobody cares/dares it. A question arises that- Do we need RBI or SEBI. How many people (individuals) participate in investing or reaping money from shares/bonds/MF, etc. may be 40% maximum. Its a different issue that 70% of the people get affected due to share market result. Similarly in today's real estate may be 50% of Indians get affected directly but 90% indirectly. You know the real cause of recession. Its again the same real-estate sector in The US and of course some mortgage problem. Actually we need to understand where a regulator is needed and where not. Three basic needs Food, Clothing & shelter - Roti, Kapda and Makan. Now everybody knows Regulatory body in Food and Beverage is really important (not in India - so Pepsi and Coke are doing business - poor us, 1st world countries do have). We don't have as such a proper regulatory authority for Clothing (as it is cheaper here - look at any 1st world

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country, they have). About home....... a dream of every man - whether rich/poor black/fair.... it takes whole life to get a home. 65% of Indians have their own home at age of 62. Comparing with a shirt or a burger........... This is really BIG. It doesn't mean that earlier two is less important....... what I mean to say is that MAKAAN is no lesser important. You invest once and thats huge. Govt. advertises about checking food quality, prices of a commodity, and problems with auto, electrical equipments, and credit cards and........... But I haven't seen this effort to educate people about real-estate aggressively. What to do if you are at problem with your builder, what is map approval, how can a common man get it, what is mutation, why is it important, - really more important to any man than running after some credit card inflated bill or some inflated charges taken by Big Bazaar - sort of problems. Money market is needed to be regulated because it is the backbone of our economic system. The amount of business real-estate industry is generating can't be no-longer ignored. After 2001, probably everyman directly or indirectly is associated with real-estate sector (see the investments in Infrastructure bonds only). After IT and ITES industry, real-estate

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sector comes next in terms of people employed. The value of stake holders in this sector is no lesser than 90%. The involvement of more than 50% of the population (public representatives) makes a govt. Why not a industry. People within (i.e. employees) and outside (investors, buyers, and share-holders) if moderated by a central agency like RBI (I name it RERBI - Real Estate Regulatory Body of India), then life for everybody in INDIA might be safer. Fallout of real estate boom: The boom in the real estate saw emergence of many builders, who played upon the emotional side of human nature to own one's own dream house, commercial space etc. Besides the ever rising prices of the houses/flats etc attracted many to invest in the real estate with a hope that their money will give the best returns if invested in the real estate sector. The interest of the consumer in the real estate lead to heavy bookings of the buildings, innovation of the concept of pre-launch bookings, the flats/commercial space were sold while at the drawing board stage. The consumer never bothered to check the credentials of the builder, sanctions by the competent offices etc. Instead the consumers were led by alluring advertisements issued by the builders, promising delivery of possession of constructed building/flat within the stipulated time. The builders promised refund of money immediately on cancellation, some of them also promised assured returns by way of rent.

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After the bubble has burst, needless to say, the promises of the builders have gone for six. The purchaser/consumers have paid the entire sale price/major consideration and they are under debt of bank/financial institutions, savings have evaporated and there is no sight of completed building. The promising builder has vanished or has started avoiding calls; request for refunds, delivery of possession is unheeded. Instead some builders have the audacity to demand more money on account of alleged escalation cost with a remote possibility of possession being handed over to them. What do poor and harassed consumers do in such circumstances. I need to emphasize consumer is not helpless and should not allow the builder to run over him. He should fight for his right, the law of land supports him in this regard. The Consumer Protection Act, 1986, will come to the rescue of such erring builders and will force the builders to pay compensation to the consumer, hand over the possession of the flat booked/alternative flat in the same locality and will ask to builder to bear the cost of escalation, if any, on account of rise in price of constructing a building. The purchaser/buyer is a consumer within the meaning of the above mentioned Act and failure of the builder to hold on to the promise made at the time of booking in delivering possession etc would constitute deficiency of service.

A cheated customer can lodge a complaint with the consumer forums pointing out the deficiency of services by the builder. A consumer court is divided into three forums

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namely, district forum, state commission and National Commission. Where the value of the property is less than twenty lakhs, the complaint will be filed in the District Forum. Where the value of the property is more than twenty lakhs but less than One Crore the complaint will be filed before the State Commission and where the value of the property is in excess of Rs. One Crore the complaint will have to be filed in the National Commission. In the matter of DLF Universal Ltd Vs Brig (Retd)Kamal Sood, the National Commission, reported as MANU/CF/0069/2007 was faced with a situation, wherein the consumer was led by the advertisement of the builder of delivery within stipulated time and consequently on the failure to deliver, the builder contended that government permissions, such as approval of zoning plan, layout plan and schematic building plan were not given, thus the delay in construction should not be a ground for grant of compensation to the consumer. The consumer was further burdened with the escalation cost due to such delay. The Honorable National Commission observed that it is unfair trade practice on the part of the builder to collect money from the prospective buyers without obtaining the required permissions such as zoning plan, layout plan etc. It was further held that it is the duty of the builder to obtain the requisite permissions or sanctions for construction etc in the first instance, and thereafter recover the consideration money from the purchaser of the flat/buildings. The National Commission further observed that if there is any express promise that the premises would be delivered

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within the stipulated time and if it is not done so, escalation cost is required to be borne by the builder. (Sources ; http://www.real-analytics.com/literature_review.pdf) In another matter titled as Veena Khanna Vs Ansal Properties and Industries limited, reported as III (2007) CPJ 185(NC), the National Commission set aside an order of the State Commission, wherein the builder was directed to refund the money to the consumer along with the interest @ 13%. In the alternative, it was directed that if the builder chooses to hand over the possession of the flat, the order of refund with interest will not come in operation. The builder taking advantage of the order refunded the money, because of the rise in the prices of the immovable properties. The National Commission observed that refund of money with interest at bank rate does not mean that the complainant is adequately compensated for delay in construction of flat by the builder and not delivering the possession of the flat. It was noted that because of the delay in construction and delay in deciding the matter it is practically impossible for a consumer to purchase a flat at the market price. It was held that it was the duty of the state commission to direct the builder to deliver the possession of the same flat or flat of similar size to the consumer with compensation for delay in delivering the possession. Or in any circumstances, adequate compensation ought to have been given so that the complaint could purchase a new flat of the same size

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at the prevailing market rate. Mere payment of interest is not an adequate compensation. (Source : http://business.fiu.edu/realestate/journals-JREL.cfm)

Complete information of how to buy a home or property: 1. How do I buy a house? Be an informed consumer; buying a house is one of the most complicated and expensive purchases you will ever make. As with most other things, you get what you pay for. Look at and compare many houses in different areas. Once you have seen something you like, assess its location. How far will you have to commute? What is the traffic like? How does the neighborhood look? What services are available? How good are the local schools? Will you be able to get your children into them? What is the crime rate in the area, and what types of crimes have occurred in the past couple of years? Visit the home on multiple occasions and at different times of the day. Remember: location, location, location. It's one of the biggest factors in setting the price of the home.

Before you make a written offer, know exactly what you are buying and what the costs will be after you own it. For example, in addition to the monthly principal and interest payments that you will have to finance the purchase of your home, you will need to budget for utility bills, property taxes, and insurance and maintenance costs. If you buy a home that has a homeowner's association, you will also have to pay association fees. Some homes have special assessments in addition to the regular property taxes. Make sure that you ask the

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seller for copies of the past years" bills for these services, and that you inquire as to whether there are any assessments scheduled to be placed on the property in the future.

Also, check the condition of the house and any appliances, window coverings and other items that you want included in the sale. Consider purchasing a home warranty. For a minimum fee, the home warranty company will insure that the house and the appliances are in working condition. Many companies will provide coverage for washers, dryers, pools and pool equipment, air conditioning, and some roof repairs. Your agent or escrow holder can provide you with information on these policies. 2. Do I need a real estate agent or an attorney? An experienced local real estate agent can assist you in finding a home that meets your particular needs. He or she will also have information about the home and area that an outsider would never find just by looking at the particular home. Most homes are listed for sale by a real estate broker who is referred to as the seller's agent. The seller's agent represents the seller. The agent who helps you find the home is called the buyer's agent. Usually you will not have to pay your agent a fee for the time and energy he or she spends in finding the home and assisting you in closing the sale. The buyer's agent's fee will be paid by the seller when you complete the purchase of the home. Your real estate agent will also assist you in negotiating the price, learning about the community, obtaining a loan, inspecting the home, and in closing the escrow. In some

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instances, a real estate agent can represent both the buyer and the seller. This is referred

to as a dual agency. This must be disclosed to you before you make an offer. It is advised that you proceed carefully in this situation, since your agent will be working for both the seller and you at the same time. If you are not sure that you understand all of your rights and responsibilities, it is advisable to see an attorney who is experienced in the purchase of residential real estate. An attorney can help you with legal and tax questions that come up during the purchase of the home, and can assist you in reviewing all of the documents and reports that will be provided to you in the process of purchasing the home. For more information on how to locate a qualified attorney, order a free copy of the State Bar pamphlet How Can I Find and Hire the Right Lawyer? To find out how to order a free copy of this pamphlet and other State Bar consumer education pamphlets, call 415-538-2280. Or visit the State Bar's web site(www.calbar.ca.gov) where you'll find the bar's consumer education pamphlets, as well as information on ordering them. The pamphlets also can be ordered in bulk. 3. What information must the seller provide us? In most cases, when you are preparing to buy a home, the seller must provide you with a Real Estate Transfer Disclosure Statement. This is a pre-printed form that lists many features or conditions about the home, the land, and the area where the home is located.

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The seller must list on this form any possible problems he or she is aware of that might affect your willingness to purchase the home. This includes, for example, easements, rights of others to control how you use the property, environmental problems, nonfunctioning equipment, zoning and building violations, and special assessments. The seller's agent must visually inspect the home and report all facts that he or she feels might affect your decision to buy this property. If you want information that is not covered in the Real Estate Disclosure Statement or additional information that is disclosed, put your questions in writing and ask the seller to respond in writing. You should review the Disclosure Statement immediately and carefully. In most instances, you will have a limited period of time to decide whether you wish to proceed with the purchase despite the stated disclosures. Depending upon your purchase agreement, some sellers will require a written acceptance of the conditions contained in the statement. Other sellers will consider your silence as acceptance of all of the conditions contained in the Disclosure Statement. If you buy a condominium, the seller must give you copies of the homeowners association's rules and bylaws, and financial statements, and must inform you if there are any unpaid assessments. You should also ask to see the past minutes of the association board meetings. You might find that there are pending or future lawsuits or defects in the construction of the complex being discussed in these meetings. All of which would affect the value of what you are buying. 4. Should the house be inspected?

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Before buying any property, it is advisable to have it inspected by trained specialists. The kinds of inspections you need depend on the location and condition of the property. For

example, in a hillside area, you might want a soil stability inspection. If you are buying a home built before 1978, you should seriously consider an inspection for lead-based paint. At a minimum, you should have the home inspected to determine if it is structurally sound, a pest control inspection to see if the house has been infected by termites or dry rot, and a natural hazards inspection to see if the home is located in an area subject to fire, earthquakes or flooding. The real estate agent can advise you about additional inspections that might be warranted under the circumstances. Keep in mind that while the seller has to tell you about anything he is aware of that is wrong with the house, he is not insuring the quality of the house; for this reason, and an inspection is a good idea. 5. How do I make an offer on a house? Most homes are sold through real estate agents who have expertise in valuing homes. You can also get information on home sales in your area by visiting a host of Internet sites provided by professionals in the industry, or by reading the real estate section of your local newspaper. Once you have found the home of your choice and have determined how much you are willing to pay, you need to make a deposit (called earnest money) to show the seller that you are serious about buying the house. The deposit is

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considered a down payment on the price of the home. In some instances you may have to increase your deposit or increase your offer, especially if there are multiple offers on the home. The deposit is usually deposited in escrow upon the acceptance of your offer. You submit a written offer on a form known as the Residential Purchase Agreement and Receipt for Deposit. This form sets out the terms upon which you are willing to purchase the property. The price you offer on a home will, in most cases, be less than the amount you will need to purchase the home. There will be expenses incurred in purchasing the home that will have to be paid by either the buyer or the seller. These include, for example, title reports, document preparation, recording fees, local taxes, fees for inspections, escrow fees, homeowner's insurance, and notary fees. Ask your agent or escrow officer to provide you with an estimated closing statement. This will give you an idea of some of the additional costs you will incur in purchasing your home. You do not want any surprises. 6. What is a Residential Purchase Agreement and Receipt for Deposit? This agreement is an offer which, upon acceptance by the seller, results in a binding contract. It should cover all of the important terms of the sale. For example, it should include a complete description of the property and of any personal property that will be sold with the house, such as window coverings, kitchen appliances, washers and dryers. It should state the exact purchase price, including the amount of your initial deposit, any increases in that deposit, the amount you will pay in cash, check or wire transfer, and the

60

amount you will need to finance to complete the purchase price. This agreement should also list any conditions that may allow you to back out of the contract. You will want a condition that allows you to cancel the contract if you cannot obtain a loan on favorable terms or if the inspections reveal substantial defects or problems with the home. You may also need a condition that allows you to cancel the sale if you cannot sell your current home. Please understand, however, the more conditions you have, the less likely the seller is to accept your offer. This agreement should also set forth what will happen to your deposit if you cancel the sale, what will happen if you and the seller have a disagreement over the terms of the sale, and how the brokers will be paid. The agreement should also indicate whether you are purchasing the property in "as is condition" or the seller is warranting the condition of the property. Take the time to go over each and every term of the agreement with your agent before you sign the agreement. 7. Can I change my mind? You should not make an offer to purchase a house unless you are serious about buying it. You can, however, revoke your offer before it is accepted by the seller. This revocation should be in writing. If your offer has already been accepted by the seller, you may be able to terminate or revise your offer if you are unhappy with what your inspections reveal or if other conditions of the offer are not met. The Residential Purchase Agreement and Receipt for Deposit contains several provisions that discuss what will happen in the event the sale does not go through. There is a

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mediation provision, an arbitration provision and a liquidated damages provision. The liquidated damages provision can result in you losing most if not all of your deposit (up to 3 percent of the contract price) in the event you elect not to complete the purchase price, and your election is without good cause. There is no provision in the standard contract for liquidated damages in favor of the buyer in the event the seller wrongfully refuses to go through with the sale. You do not have to agree to this provision. Carefully discuss the pros and cons of initialing this provision with your agent or attorney. 8. How can I get a loan? Most home loans are made by financial institutions such as banks, savings and loan associations, and credit unions. Other sources of loans are insurance companies, mortgage bankers, finance lenders, mortgage loan brokers, pension funds and investment trusts. Lenders charge different fees and offer different interest rates so it pays to shop around. Your agent will be able to recommend lenders in your area. When you apply for a home loan, the lender will check your credit rating and review your past employment, income history, and credit and debt obligations. It will also obtain information about the property that will be security for the loan. This will include an appraisal or estimate of the fair market value of the home, a review of the preliminary report prepared by the title insurance company to determine what liens, easements and other conditions will be superior to its loan, and a review of any taxes, assessments and zoning regulations that affect the property. Some lenders will charge you a loan application fee, document preparation fee, appraisal fee and other fees to consider or

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close the sale. You should discuss these fees with your lender before you submit your application. 9. What types of home loans are available? In exchange for cash from the lender, you agree to pay interest and to make payments over a period of time. In most instances, the property you purchase will be security for repayment of the loan. Sometimes a seller will offer a seller-financed or carry back deed of trust. This financing method is often used when a seller wants to receive income over a period of time or when lenders are stringent in their loan requirements. The terms of these loans should be discussed with your agent or attorney. He or she is best qualified to determine if the loan documents and agreement meet all legal requirements. Occasionally, you can "assume a loan or take over a loan that the seller has been paying off. You should be careful in assuming any loan. Most loans have an acceleration or due on sale clause. This means that the lender can demand that the seller's loan be paid in full when the property is sold. If you wish to assume a loan, you should have your agent or attorney review all of the seller's loan documents and make approval by the lender a condition to your offer. Most home loans that are available to Californians offer one of two interest rate structures. A fixed rate loan offers a set interest rate, so that your monthly payment never

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changes. Some fixed rate loans are federally insured or guaranteed, such as a Veteran's loan or an FHA loan. These loans usually have a lower interest rate and require smaller down payments. For more information on these loans, get in touch with a local office of the California Department of Veterans Affairs, the U.S. Veterans Administration or the U.S. Department of Housing and Urban Development (HUD). Another type of loan that is available is an adjustable rate mortgage loan, sometimes called an ARM. An ARM is a mortgage loan which provides for adjustment of its interest rate as market rate interest rates change. The ARM's interest rate is tied to an index that reflects changes in the market rates of interest. Some indexes used are the Cost-of-Funds Index published by the Office of Thrift Supervision, and the Federal Reserve Discount Rate. These loans usually have interest rates that are lower than the fixed rate loan interest. ARMs can be complicated. Make sure that you understand all of the terms of these loans before you agree to accept one. Occasionally, new mortgage plans become available that are intended to meet specific needs of a community. These include loans for first-time homebuyers, and loans for teachers. Check with your local consumer affairs office and housing departments for upto-date information on these types of loans. 10. What occurs when I "close" on a home? For the protection of the seller and the buyer, a person or company that has no connection with you or the seller holds the money and papers involved in the purchase. This

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procedure is called escrow. The escrow holder's job is to make sure that all of the terms and conditions of the agreement are met. He or she will also coordinate all of the activities of the broker, the lender and the title insurance company. The escrow holder will deliver the deed to the county for recording when it can pay the seller the money. Escrow services can be provided by title companies, banks, savings and loan associations, independent escrow companies, realtors or lawyers. The escrow holder does not act as a mediator, a lawyer or an advisor. The escrow holder is required by law to remain neutral. Its only job is to carry out the terms of the escrow instructions. In Southern California, escrow instructions are signed when the escrow is opened. They are modified throughout the course of the escrow as the agreement between the buyer and seller change. In Northern California, escrow instructions are executed just prior to the close of escrow. These instructions should be clear and certain as to the intentions of the parties and the duties of the escrow holder. Make sure your Purchase Agreement does not conflict with your escrow instructions. If they do conflict, the escrow instructions may be considered your final agreement as to the terms of the purchase. If you are uncertain as to what the instructions say, discuss them with your agent, your lawyer, and the escrow holder. After the close of escrow, the escrow holder will provide you with a Settlement Statement. This document will show you, as the buyer, all of the costs incurred by you in

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purchasing the property. You should review this document carefully and save this statement for later. Many of these costs may be deductible from either your state or federal taxes. If you have any questions or concerns about the charges you incurred, contact the escrow holder immediately and ask for an explanation. 11. How should the title to the home be held? Prior to the close of escrow, the escrow holder will ask you how you wish to hold title to your new home. How someone holds title will affect what will happen to the property in the event of the death of one of the owners. It also will affect whether certain taxes will be incurred or whether a probate of the estate will be necessary. You should discuss your options with a tax specialist and your agent before you make your selection. You can hold title to the home by yourself, as separate property, with your spouse, as community property, or with your spouse or a third party, as joint tenants or tenants in common. You can also hold title to the property in a family trust. For more information on the different forms of ownership, see the State Bar pamphlet Do I Need Estate Planning? To obtain a complimentary copy of this pamphlet, mail a self-addressed envelope (with 55 cents in postage) to the Estate Planning, Trust and Probate Law Section, The State Bar of California, 180 Howard Street, San Francisco, California, 94105-1639. For information on ordering multiple copies, call 1-888-460-7364. 12. Do I need title insurance? Title insurance is necessary for your protection when you buy a home. It is, however, not a guarantee that problems will not arise after the close of escrow. When you make an

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offer to buy a home, you, as the buyer, have the right to choose the title company. This decision should be based on the local office's expertise, and the company's record for fairly handling claims under its policies. You should discuss these issues with your agent. Once you have chosen a company, you should make one of the conditions of the close of escrow clear title to the property. "Clear title" means that when the sale to you is completed, the title to the property will be free from liens, judgments and other claims that you have not agreed to accept. You should also discuss with your agent the need for a survey of the property and title insurance coverage for boundary line disputes. In many instances, especially in rural areas, boundary lines are not where they should be. A survey and survey coverage can help eliminate future disputes with your new neighbors. Before a title company issues an insurance policy, it will make an investigation to find out if anyone besides the seller claims to own the property. It will also search the public records for claims against the property. The title company will provide you with a report, called preliminary report. You should carefully review this report to determine if it describes all of the property you are interested in buying. You should also review this report and determine what items you are willing to accept when you purchase the property and what items you wish removed or taken care of as a condition of the close of escrow. If you are uncertain as to what the report says, you should discuss the matter with your agent, the escrow holder and/or your attorney. There are different kinds of title insurance available. Often the difference in cost for the

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better policies is nominal. "Basic" or "Standard" coverage is, in most instances, not the best policy available. For an additional one-time cost or no charge at all, you can obtain protection for losses resulting from illegal construction, zoning violations, unrecorded liens, prescriptive easement claims, and post policy forgeries. Be aware that different companies charge different rates. Discuss with your agent and the escrow holder what policies are available in your area and the differences in prices on each of the policies. 13. Congratulations! Whether you are purchasing a home for the first time or for the fourth time, the day of closing should be a cause for celebration. And since a portion of your purchase price is paying for the agents and the escrow holder's expertise, utilize their services throughout the process leading up to the day of closing. Ask questions; ask for an explanation of any item you do not understand. Request copies of any documents you do not understand; keep copies of all documents relating to the purchase of your home. And, if necessary, seek advice from a qualified real estate attorney or tax advisor. Asking questions during the purchase of your home will help insure that you and your family will enjoy your new home for many years to come.

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CHAPTER 5
RESEARCH METHODOLOGY

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RESEARCH METHODOLOGY
Shri Group basically means business and in business collection of raw data allows the managers to see the real scenario and then take a decision as per the data obtained. There are several implications in this statement: They can examine the available information in the form of data to make a decision They can even get a clear picture of the scenario or potential of Shri Group as compared to other real estate company in the city. The information can only be gathered by data collection and then analyzing the available data. Therefore, it can be said that the data collection is an important part of the project.

Data Raw numbers

Information

The projected objectives were considered and as per the requirement a market survey was done. Procedure: The procedure that followed can be enlisted as below:

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 Reading about the product Deciding on the objective to proceed. Developing Survey instruments Conducting personal interviews of different age-groups, sex, monthly income and occupation through a Questionnaire.

Process adopted:
1. Gaining knowledge about the product at Shri Group: Reading about the products was the first step undertaken. This gave not only in depth knowledge about what is been offered by other players but also proved useful while developing the questionnaire. 2. Steps in the Development of the Survey Instruments The main instruments required for survey was a well-developed questionnaire. The questionnaire development took place in a series of steps as described below:

Research objectives are being transformed

into information objectives.

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The Appropriate data collection methods have been determined

The information required by each objective is being determined.

Specific Questions/Scale Measurement format is developed.

Question/Scale Measurements is being evaluated.

Research objectives are being transformed into information objectives.

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The number of information needed is being determined.

The questionnaire and layout is being evaluated.

Revise the questionnaire layout if needed.

The Questionnaire format is being finalized.

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3. Customer Survey: The people play an important part as a clear perception of people about the product can be estimated and known. Studying the need levels of the people regarding the products can be observed. It was very useful in knowing about the requirements of the people.

Research Design:
A two stage Research was conducted: 1. Primary Research: A Primary Research was conducted: The questionnaire was prepared for the companies and following areas covered: competing real estate company Features offered by different company Consumer profile Satisfaction level Reasons for their purchase.

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Desirable features of the product and service.

2. Secondary Research: Data was collected from websites and catalogues to understand the product of the different players Sampling Plan Elements: The target population of the study included the general population of every age who enters to the Shri Group

Sample size: 300 People (Private employee, Govt. employee, Business owner )

Sampling Technique
Sampling methods are classified as either probability or nonprobability. In probability samples, each member of the population has a known non-zero probability of being selected. Probability methods include random sampling, systematic sampling, and stratified sampling. In nonprobability sampling, members are selected from the population in some nonrandom manner. These include convenience sampling, judgment sampling, quota sampling, and snowball sampling. The advantage of probability sampling is that sampling error can be calculated. Sampling error is the degree to which a sample might differ from the population. When inferring to the population, results are reported plus or minus the sampling error. In nonprobability sampling, the degree to which the sample differs from the population remains unknown.

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Random sampling is the purest form of probability sampling. Each member of the population has an equal and known chance of being selected. When there are very large populations, it is often difficult or impossible to identify every member of the population, so the pool of available subjects becomes biased.

Systematic sampling is often used instead of random sampling. It is also called an Nth name selection technique. After the required sample size has been calculated, every Nth record is selected from a list of population members. As long as the list does not contain any hidden order, this sampling method is as good as the random sampling method. Its only advantage over the random sampling technique is simplicity. Systematic sampling is frequently used to select a specified number of records from a computer file.

Stratified sampling is commonly used probability method that is superior to random sampling because it reduces sampling error. A stratum is a subset of the population that share at least one common characteristic. Examples of stratums might be males and females, or managers and non-managers. The researcher first identifies the relevant stratums and their actual representation in the population. Random sampling is then used to select a sufficient number of subjects from each stratum. "Sufficient" refers to a sample size large enough for us to be reasonably confident that the stratum represents the population. Stratified sampling is often used when one or more of the stratums in the population have a low incidence relative to the other stratums.

Convenience sampling is used in exploratory research where the researcher is interested in getting an inexpensive approximation of the truth. As the name implies, the sample is

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selected because they are convenient. This nonprobability method is often used during preliminary research efforts to get a gross estimate of the results, without incurring the cost or time required to select a random sample.

Judgment sampling is a common nonprobability method. The researcher selects the sample based on judgment. This is usually and extension of convenience sampling. For example, a researcher may decide to draw the entire sample from one "representative" city, even though the population includes all cities. When using this method, the researcher must be confident that the chosen sample is truly representative of the entire population.

Quota sampling is the nonprobability equivalent of stratified sampling. Like stratified sampling, the researcher first identifies the stratums and their proportions as they are represented in the population. Then convenience or judgment sampling is used to select the required number of subjects from each stratum. This differs from stratified sampling, where the stratums are filled by random sampling.

Snowball sampling is a special nonprobability method used when the desired sample characteristic is rare. It may be extremely difficult or cost prohibitive to locate respondents in these situations. Snowball sampling relies on referrals from initial subjects to generate additional subjects. While this technique can dramatically lower search costs, it comes at the expense of introducing bias because the technique itself reduces the likelihood that the sample will represent a good cross section from the population.

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Data Collection
The final draft of the questionnaire (see Appendix) was prepared on the basis of the observations from the pilot study. These were then finally filled by 300 customers & potential customers, for the conclusive study.

Finally the data collected was fed into the data analysis software- SPSS, to be analyzed using statistical techniques.

Types of Primary Data collected:

Socioeconomic Characteristics: Socioeconomic characteristics are sometimes called states of being in that they represent the type of people. The factors on which we are working are occupation. Monthly transaction is also an important parameter but it is difficult to verify. Although the amount of money that business unit earns in a month is an absolute, not a relative quantity but it is a sensitive topic in our society and it is difficult to determine. Attitudes/Opinions: Through the questionnaire we have tried to get hold of customers preference, inclination and requirement. Attitude is an important notion in the marketing literature, since it is generally thought that the attitudes are related to the behavior of customer.

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Motivation: Through the questionnaire we have tried to find the hidden need or want of customer and have tried to find if these people can be tapped as the potential customer for Shri Group.

Behavior: Behavior concerns what subjects have done or are doing. Through the questionnaire we have tried to find out the behavior of the individuals regarding the product and their responses. If the responses are favorable then the person can be said to be our potential customer. The primary data serves as an important tool to measure the behavioral trend of the customer. It helps in answering some of the vital Questions.

Obtaining the Primary Data:

The data collection was primarily done through communication. Communication involves questioning respondents to secure the desired information, using a data collection instrument called questionnaire. The questions were in writing and so were the responses. Versatility: It is the ability of a technique to collect the information on the many types of primary data of interest to marketers. It has also been found that some of the people do not answer truthfully to all the questions especially in the case of the personal details

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CHAPTER 6
DATA ANANLYSIS AND INTERPRETATION

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DATA ANANLYSIS AND INTERPRETATION

Q.1) The professions of the people I met..

profession type Valid Percent 86.0 3.0 10.3 .3 .3 100.0 Cumulat iv e Percent 86.3 89.3 99.7 .3 100.0

Vali d

priv ate business gov t. owner Total

Total

Frequency 258 9 31 1 1 300 300

Percent 86.0 3.0 10.3 .3 .3 100.0 100.0

ow ner govt. business

private

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During the survey I visited many Government and Private Offices to meet with people who can give me proper response of my questionnaire. I met with total 300 people out of which 10.3% (31) people are doing Government services , 86 %(258) people are doing Private services and 3 % (9) people are doing business. My target was to meet service class people because they are educated and they are having capability of buying house or any experience of buying house or any property.

300

200

100

Count

0 20-25 25-30 30-40 41-50

age of a person

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I met with people having different age. But generally I choose to met people having age more than 30 years .Because they have bought house or they are in process of buying any house. The people I have met most people belong to age group of 30 to 40 years and having 71% and people belonging to age group 25 to 30 years having (least) 5.7%.People are in age group 41-50 years and more than 40 years are having 22%. Q2. How much are you satisfied from real estate marketing information provided by real estate companies?

Frequency Valid highly satisf ied satisf ied neutral dis-satisf ied highly dis-satisf ied Total Total 3 93 64 126 13 1 300 300

Percent 1.0 31.0 21.3 42.0 4.3 .3 100.0 100.0

Valid Percent 1.0 31.0 21.3 42.0 4.3 .3 100.0

Cumulat iv e Percent 1.3 32.3 53.7 95.7 100.0 .3

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highly dis-satisfied

highly satisfied

satisfied

dis-satisfied

neutral

With the help of above pie chat and table it is clear that majority (42%) of people are dissatisfied and very less proportion (1%) of people are highly-satisfied with the

marketing information provided by the real estate companies . Many people who are satisfied with the marketing information provided by developer ,they were saying that Real estate companies does not want to share each marketing detail but also some real estate companies does not want to hide any marketing detail if customers asking about them. 21.3% people are neutral, 31 % people are satisfied and 4.3 % people are strongly issatisfied from the marketing details provided by the real estate companies. We can make most of the customers satisfied by 1. Creating awareness about all the marketing details.

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2. By asking the developers to provide each (negative and positive) marketing detail without any terms and conditions in their broacher. 3. By making the people aware of all the legal and technical documents which are needed while going to buy a house. We can make most of the 46.3% customers dissatisfied by the reason of this strange result in simple languages is as follows Builders do not give complete marketing information in their broacher. Marketing information provided by real estate developers is condition based. In the marketing information broacher, developers do not share the negative side of project. The paper work is a bit different from that of the actual work.

Q.3. What source of information do you prefer while buying/ searching for a property?

Frequency Valid print media tv & radio internet outdoor add personal ref erence broker Total 124 21 16 7 86 46 300 300

Percent 41.3 7.0 5.3 2.3 28.7 15.3 100.0 100.0

Valid Percent 41.3 7.0 5.3 2.3 28.7 15.3 100.0

Cumulat iv e Percent 41.3 48.3 53.7 56.0 84.7 100.0

Total

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140

120

100

80

60

40

Count

20 0 print media tv & radio internet personal reference outdoor add broker

what source of information do you prefer while searchin for a property

The above Table and chart shows that most of the people prefer Print media (41.3 %) and personal reference (28.7 %) for searching house or property. And other sources like Internet, Broker, TV & Radio, Outdoor advertisement are having 5.3 %, 15.3%, 7%, and 2.3% respectively. Many people say that search of property through internet is very comfortable. Because in a single click they can reach to a number of builders and their projects. They were saying that mostly internet property web portal shows only marketing detail of projects but if they will show legal and technical document of project so searching property through internet become more beneficial.

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Some people say that print media is better way of searching property because it is easily available at every where any time and also gives information about current status of project with marketing details. Many people were saying that buying or searching house or property through broker is not safe because of their dual nature .Generally they are making hype of the developers project and hide negative side of the project.

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Q.4. Choose your preferable location and types of house you want to purchase?

160

140

120

100

80

60

40

20 Count 0 Mathura ghaziabad noida gurgaon others faridaba new delh

area of preference

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Majority of the people prefer Mathura as the location (46.3%), then comes the no. of Ghaziabad and Noida with 27% and 16.3% respectfully, Gurgaon stands fourth with 6.7%. The choice of area depends on the monitory condition and the facilities available to people at a particular area. Most of the people want 3 BHK in New Mathura area with price ranging from 35 to 55 lakhs. The demand for 2 BHK is bit less and varies from 15-20 lakhs. The demand for 1BHK is not much. People want 4 BHK in the range of 55 to 60 lakhs. There is not great demand of Penthouses and villas in Mathura region. Most of the people who are doing job or having business who want to purchase 3 BHK or 4 BHK prefer luxury house.

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Q5. Consumers preference of information related to property document from Real Estate web portal, past record of builders, and marketing details-

prioriority amongst the three Valid Percent 91.3 5.0 3.7 100.0 Cumulat iv e Percent 91.3 96.3 100.0

Frequency Valid property documents marketind details past records Total 274 15 11 300 300

Percent 91.3 5.0 3.7 100.0 100.0

Total

300

200

100

Count

0 property documents marketind details past records

prioriority amongst the three

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From the above we can conclude that before going to buy a house people generally look for the property documents which comes up to 91.3% of the total responses, then the marketing details and the past records come. Q.6. Is there any need for any regulating body in the real estate?

can't say no 11

yes

In this question, majority of the people have a view that there is a need for some regulatory body which can have a continuous eye on the real estate sector. Very less people say the answer as No, and least no of people have No reply.

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Q.7: Do the Real Estate developers give possession timely?

Valid

y es no can't say Total

Total

Frequency 107 156 37 300 300

Percent 35.7 52.0 12.3 100.0 100.0

Valid Percent 35.7 52.0 12.3 100.0

Cumulativ e Percent 35.7 87.7 100.0

can't say

yes

no

The answer of majority was not in favor. Out of 300 people,156 said no to this comprising of 52% of the whole population. Whereas 107 said Yes and Rest were in two minds.

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Q.8: Do you think govt. takes necessary steps to provide house to the common man?

Valid

y es no can't say Total

Total

Frequency 98 148 54 300 300

Percent 32.7 49.3 18.0 100.0 100.0

Valid Percent 32.7 49.3 18.0 100.0

Cumulativ e Percent 32.7 82.0 100.0

can't say

yes

no

Majority said No when asked this question and comprised of 49.3% of the total answers, 32% said yes and 18% didnt knew where to go.

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Q.9. Cross Tabulation of the Place of preference & the Type of House which a person likes to have.

100

80

place of preference
60 Mathura ghaziabad 40 noida 20 gurgaon faridabad 0 1BHK 2BHK 3BHK 4BHK PENT HOUSE others

Count

type of house a customer prefers

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When the places of preference were cross tabulated with the types of houses the consumers want then the result came out to be that: Majority of the public want 3BHK houses (i.e. 172) and that too the demand is the most in Mathura (82). The least is the demand of the Pent Houses (total-3), which were in Mathura and Noida region. There is very less demand of 1BHk houses in the MATHURA region which is evenly distributed throughout. The demand for 2BHK houses comes second in the list with 77 out of 300 going for it. This is mainly concentrated in Mathura and Ghaziabad area. According to my survey, no one demanded Villas.

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Q.10. Cross tabulation of the place of preference and the amount which a person is willing to pay.

The graph below is self-explanatory:

70

60

50

place of preference
40 Mathura ghaziabad noida 20 gurgaon 10 Count 0 10-15 16-25 26-35 36-45 46-55 above 55 faridabad others

30

AMOUNT WILLING TO PAY in LAKHS

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According to the cross tabulation of the amount a person is willing to pay at a particular place the results came out to be: Maximum people wanted to pay the amount ranging from 26-35 lakhs. The situation is same at all the places. Then comes the range between 36-45 lakhs. This trend is mainly at the places like New Delhi, Ghaziabad, Gurgaon and other places. At Noida and Faridabad areas people prefer 16-25 lakhs range.

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Q.11. Cross Tabulation between the type of house a person is willing to buy and the amount he is willing to pay.

Count 10-15 10 2 3 AMOUNT WILLING TO PAY in LAKHS 16-25 26-35 36-45 46-55 1 1 43 20 11 1 12 107 45 5 21 11 1 15 56 127 77 19 above 55 Total 12 77 172 36 3 300

type of house a customer pref ers

1BHK 2BHK 3BHK 4BHK PENT HOUSE

4 2 6

Total

The Cross-Tabulation of the types of Houses and their range shows the following things: The demand for 3BHK houses with price range in between 26-35 lakhs is the most. 3BHK is also in demand in the range in between 36-45 lakhs. The demand for 2BHK houses comes 2nd with the price range of 16-25 lakhs.

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120

100

80

type of house a cust

60 1BHK 40 2BHK 3BHK 20

Count

4BHK 0 10- 15 16- 25 26- 35 36- 45 46- 55 above 55 PEN T HOUSE

AM OUNT WILLING T O PAY in LAKHS

Analysis of the three cross-tabulations: Majority of the people wanted 3BHK houses with price ranging from 26-45 lakhs in New Delhi. The demand for 2BHK houses comes next with price ranging from 16-25, and 2635. The demand for 2BHK houses is also there in range between 26-35 and 36-45 lakhs and mainly in cities like Mathura and Noida. The demand for Penthouses is very less. Also the majority of people want to live in Delhi,

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Q.12: What all documents you should look before buying house? Peoples are now very conscious about property document. They were saying that while buying or searching property they check property document, but since most of them do not know the all property document required to check thats why there is need to create awareness about property document and builders should show the entire property document to customers themselves. While survey generally people gave name of fallowing property document Link chain ownership document. Registry Map approval doc. Kheshara- Khatauni Sale deed Intakhap paper Paper shows approval from government authority Paper of agreement between buyer and seller No objection certificate (N.O.C.) Acquisition letter Payment receipts Power of attorney of land.

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Q.13. What are your expectations from the web portal?

S.No. 1

Topic They didnt know.

Percentage (%) 28.9

They wanted Transparency.

37.1

They Wanted the Web portal to provide the complete information.

34

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Q.14. What Problems have you faced while Dealing with the REAL ESTATE DEALERS..?

S.No. 1

Topic Some wanted to get rid of the false promises. There were varied Responses to this question Majority said that they wanted to get rid of the brokers. Some said they wanted the Developers to display their complete information on line and to the customers.

Percentage (%) 39

15

28

18

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SWOT ANALYSIS OF SHRI GROUP Strengths Team of professional having technical expertise, past experience in the field of marketing, Finance, Project audit and Media for real estate sector. A wide range of services on web portal compared to the other web portals. By creating awareness regarding the Marketing details, legal and technical document of the project make consumer more satisfied. In recent years, organized sector has increased its share in the market unorganized sector. Weakness Failure to curve the activities of the un-organized sector. Lack of project developers support in providing the legal and technical documents. Opportunities The growing population of India. People are becoming more aware. Rapid urbanization. Increasing trust of people on real estate web portal.

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Threats Tough competition among web portal segment of real estate. Some illegal services provided by the Broker. Government policy.

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CHAPTER 7
FINDINGS

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FINDINGS
Most of the people are dissatisfied from the real estate marketing information provided by the real estate companies, but very few people are strongly satisfied. 89% people are checking legal status of construction while buying/ searching a house. Some of the people check delayed delivery penalty clause while buying a property. 70.7% people want to check details of booking before buying or searching house. Most of the people have chosen PRINT MEDIA & BROKERS as a source of information while buying or searching for a property. People who have chosen internet, print media, brokers, and personal reference as a source of information for searching house or property are more satisfied compare to the other sources of information. There is great demand of 2, 3 BHK house in near future in Mathura region. Most of the people chose information related to the property documents as their first preference compared to the marketing details of the project, past record of builder and new policies of govt. related to real estate sector. Most of the people wanted the government to make policies in terms of legal, technical and financial aspects which could create transparency in real estate sector.

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Most of the people know only the names of few property documents and they check only these documents while searching a property.

A number of builders do not want to show the property documents to the customers.

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CHAPTER 8
SUGGESTIONS

108

SUGGESTIONS
On the basis of my findings, I want to make certain recommendations as follows Recommendation to SHRI GROUP build homes 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 followup should be made on the industry potential as a whole as well. Company should provide information according to peoples 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.

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Recommendation to customer Customers should check all the legal and technical documents and not only 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 governments policy related to Real Estate.

Recommendation 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.

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CHAPTER 9
CONCLUSION

111

CONCLUSION

Now a days people who go for buying a house have become more aware about what they should look for and the information they should seek, and are more concerned about the selection of the right type of house for them. But majority of the people are still unaware of the documents which they should look for before going to buying a house. Here I have collected the perception and analyzed the expectations of the general public as a whole. The conclusion thus is that people need to be more aware of all the documents, the total legalities, and collect as much as information from the builders, and then only they can do their investment with a free mind. Thus because of the above reasons there is a need to create awareness among the customers as well as project developers to give the customers the complete information and the role of TRUSTED PROPERTY to educate people is appreciated in this regard.

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CHAPTER 10
LIMITATIONS OF THE STUDY

113

LIMITATIONS OF THE STUDY

Un-availability of the desired personnel was the biggest constraint to this study. Although appointments were made and followed up where possible but still there were instances where the desired people were either unavailable or unwilling to meet. No prior information regarding the addresses or other details of the offices to be visited was provided, thus a few target persons were left uncovered. This project is completed in six weeks, so due to time constraints it was not possible to cover all the area of Mathura region and mainly Mathura area was covered followed by Mathura. Some dealers were hesitating to give supportive data. Some of them ignored the questions which were supposed to be filled by them. Thus affecting the scientific accuracy. Since the data is not evenly collected from the MATHURA region hence there is a chance of biasness.

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CHAPTER 11
BIBLIOGRAPHY

115

BIBLIOGRAPHY
Referred Books: Kothari, C.R.- Research Methodology New Mathura Tata McGraw Hill In (95102) Kotler, Phillip Marketing management analysis, planning implementation and control. Schiffman, Leon G.& Kanuk Leslie Lazar, "Consumer Behavior", Prentice Hall of India 6th edition Singh, HarpreetResearch Methodology-Kalyani Publishers.(page no. 1-8, 68102) Referred Websites www.trustedproperty.org www.indianrealestateforum.com www.scribd.com www.propertywala.com www.indiatimes.com www.buisnessstandard.com www.economicstimes.com

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CHAPTER 12
ANNEXURES

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QUESITONNAIRE
Q.1) The professions of the people I met.. Private Business Govt. Owner

Q.2: How much are you satisfied from real estate marketing information provided by real estate companies? Highly Satisfied Satisfied Neutral Dis-satisfied high Dis-satisfied

Q.3: What source of information do you prefer while buying/ searching for a property? Print Media TV & Radio Internet Outdoor add Personal inference Broker

Q.4. Choose your preferable location and types of house you want to purchase? Mathura Ghaziabad Noida Gurgaon Others

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Q.5: Consumers preference of information related to property document from Real Estate web portal, past record of builders, and marketing details Property Documents Marketing details Past records

Q.6: Do the Real Estate developers give possession timely? Yes No Can't Say

Q.7. Do you think govt. takes necessary steps to provide house to the common man? Yes No Can't Say

Q.8. Cross Tabulation of the Place of preference & the Type of House which a person likes to have. 1 BHK 2 BHK 3 BHK 4 BHK PENT HOUSE

Q.9. Cross tabulation of the place of preference and the amount which a person is willing to pay. Mathura Ghaziabad Noida Gurgaon Others

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