Nitesh Bhardwaj

DISSERTATION
On
“Buying behavior and consumer preferences in the Residential Real Estate
industry in Delhi NCR region”.
By
Gaurav Bhardwaj
A0101911222
MBA Class of 2013
Under the Supervision of
Mrs. Vandana Gupta
Assistant Professor
Department of Marketing
In Partial Fulfillment of Award of Master of Business Administration
AMITY BUSINESSS SCHOOL
AMITY UNIVERSITY UTTAR PRADESH
DECLARATION
I, Gaurav Bhardwaj , student of Masters of Business Administration from Amity Business
School, Amity University Uttar Pradesh hereby declare that I have completed Dissertation on
„Buying behaviour and consumer preferences in the Residential Real Estate industry in
Delhi NCR region‟.
.
I further declare that the information presented in this project is true and original to the best
of my knowledge.
Date: Gaurav Bhardwaj
Enroll. No: A0101911222
Place: Noida MBA Class of 2013
ii
AMITY UNIVERSITY UTTAR PRADESH

AMITYBUSINESSSCHOOL
CERTIFICATE
I, Vandana Gupta, hereby certify that Gaurav bhardwaj student of Masters of Business
Administration at Amity Business School, Amity University Uttar Pradesh has completed
dissertation on „Buying behaviour and consumer preferences in the Residential Real
Estate industry in Delhi NCR region‟.
Vandana Gupta
(Assistant Professor)
Department of Marketing
iii
ACKNOWLEDGEMENT
The completion of any task depends upon the co-operation, coordination and consolidated efforts of
several resources of knowledge, energy, time and above all the proper guidance of an experienced
person. Therefore I approached this matter of acknowledgement through these lines trying my best to
give full credit where it deserves.
I wish to express my gratitude to those who helped me to complete this report with their knowledge
and expertise. I would like to take this opportunity to express my deep gratitude Ms. Vandana Gupta
(Department of Marketing and Sales) for giving me the opportunity to choose this topic and the
guide me regarding the report.
With great esteem and reverence, I would like to thank all those who have helped me with this report.
I hope that the report will help to assimilate and learn from best practices shared by others in the
industry.
Gaurav Bhardwaj
MBA-General
2011-13
iv
Table of Contents
Chapter 1: Introduction .......................................................................................................................... 1
1.1 Housing growth trajectory ...................................................................................................... 2
1.2 Recent industry trends ............................................................................................................ 3
Chapter 2: Literature Review ..................................................................................................................
8
CHAPTER 3 : Research Methodology ....................................................................................................
15
3.1.1 Research title ........................................................................................................................... 15
3.1.2 Objectives of Study .................................................................................................................. 15
3.1.3 Hypothesis................................................................................................................................ 15
3.4 Research Design .......................................................................................................................... 15
3.5 Questionnaire Design .................................................................................................................. 16
3.6 Data Collection ............................................................................................................................ 16
3.7 Sampling Design .......................................................................................................................... 16
3.8 Instruments Used for analysis ..................................................................................................... 17
CHAPTER 4: DATA ANALYSIS AND INTERPRETATION
............................................................................ 18
4.1: Number of People who are permanent residents of Delhi Ncr. ................................................ 18
4.2: Number of people who have bought a property in Delhi NCR .................................................. 19
4.3 : Number of years respondents have been living in Delhi Ncr. .................................................. 20
4.4 : Ranking of localities in order of preference. ............................................................................. 21
4.5: Number of Respondents who have bought properties in Delhi Ncr for the purpose of Investment.
....................................................................................................................................... 23
4.6 Type of Residential Property Preferred. ..................................................................................... 24
4.7 Preferred Payment Plan. ............................................................................................................. 28
4.8 : Respondent’s awareness of Big real estate developers. .......................................................... 29
4.10 : Real Estate Company Preference ............................................................................................ 31
4.12: Ratings of key factors while making buying decision .............................................................. 33
v
4.13 Factors Ratings .......................................................................................................................... 41
4.14: Important sources of Information ........................................................................................... 42
4.15: Income Level of the Respondent. ............................................................................................ 47
Crosstabs: ..............................................................................................................................................
48
Figure 4.16a) : Relationship between the income level of the respondent and payment plan preferred .
......................................................................................................................................... 48
4.17a) : For buying a property , what payment plan do you prefer ? * Would you like to buy a
property from a renowned real estate company (DLF, unitech etc) at an additional cost , if a similar
property is available at a lesser price? .................................................................................. 50
4.18 Please mark the options from which you take help while making a buying decision? a)Television
* What is your annual Income? .................................................................................... 52
4.19 What type of residential property do you prefer? * What is your annual Income? Cross tabulation
.......................................................................................................................................... 56
4.20 Correlations: .............................................................................................................................. 58
CHAPTER 5 : FINDINGS
.......................................................................................................................... 61
CHAPTER 6: CONCLUSION AND RECOMMENDATIONS
......................................................................... 63
6.1Conclusions .................................................................................................................................. 63
6.2 Recommendations ...................................................................................................................... 66
Bibliography ..........................................................................................................................................
68
Annexure ...............................................................................................................................................
70
vi
List of Figures
Figure 4.1 : Are you a permanent resident of Delhi NCR region? .......................................................
18
Figure 4.2 : Have you ever bought any property in Delhi NCR? ..........................................................
19
Figure 4.3: For how many years have you been living here? ................................................................
20
Figure 4.4a) : Compiled ranking of localities(NCR) in order of preference. ........................................
21
Figure 4.4 b) : Is there any specific reason for giving that locality the highest ranking? ......................
22
Figure 4.5 : Have you ever bought a residential property in the Delhi NCR region for the purpose of
Investment? ...........................................................................................................................................
23
Figure 4.6 a): What type of residential property do you prefer? ...........................................................
24
Figure 4.6 b): Will your preference in the last question change if the property is being bought for
investment purpose? ..............................................................................................................................
25
Figure 4.6 c): If yes, what will be your preference in that case? ...........................................................
26
Figure 4.6d) : Data Comparison ............................................................................................................
27
Figure 4.7 : For buying a property , what payment plan do you prefer ? ..............................................
28
Figure 4.8 : Have you ever heard of Big real estate Developers such as DLF, Unitech, Amrapali etc.?
.............................................................................................................................................................. 29
Figure 4.9 : Would you like to buy a property from a renowned real estate company (DLF, unitech
etc) at an additional cost , if a similar property is available at a lesser price?
............................................. 30
Figure 4.10 : Please tick the Real estate company‟s name you would prefer buying a Property from.
31
Figure 4.11 : Please tick the options that you take into consideration while choosing a real estate
company to buy a property from. ..........................................................................................................
32
Figure 4.12a): Please rate the following key factors on a scale of 1 to 5 that you take into
consideration while making a buying decision for a residential property:- a)Price ..............................
33
Figure 4.12 b)Privacy ............................................................................................................................
34
Figure 4.12 c)Location ..........................................................................................................................
35
Figure 4.12 d) Neighborhood ................................................................................................................
36
Figure 4.12 e) Area/size of the property ...............................................................................................
37
Figure 4.12 f): Parking facility ...............................................................................................................
38
vii
Figure 4.12 g): Proximity to workplace .................................................................................................
39
Figure 4.12 h): Interiors ........................................................................................................................
40
Figure 4.13 : Factors Ratings ................................................................................................................
41
Figure 4.14 : Source of Information. .....................................................................................................
46
Figure 4.15 : Income level .....................................................................................................................
47
Figure 4.16 : Relationship between the income level of the respondent and payment plan preferred .
.............................................................................................................................................................. 48
viii
List of Tables
Table 4.1 : Are you a permanent resident of Delhi NCR region? .........................................................
18
Table 4.2 : Have you ever bought any property in Delhi NCR? .......................................................... 19
Table 4.3: For how many years have you been living here? ................................................................ 20
Table 4.4a) : Compiled ranking of localities(NCR) in order of preference. .........................................
21
Table 4.4 b) : Is there any specific reason for giving that locality the highest ranking? ......................
22
Table 4.5 : Have you ever bought a residential property in the Delhi NCR region for the purpose of
Investment? ...........................................................................................................................................
23
Table 4.6 a): What type of residential property do you prefer? ............................................................
24
Table 4.6 b): Will your preference in the last question change if the property is being bought for
investment purpose? ..............................................................................................................................
25
Table 4.6 c): If yes, what will be your preference in that case? ............................................................
26
Table .6d) : Data Comparison ...............................................................................................................
27
Table 4.7 : For buying a property , what payment plan do you prefer ? ...............................................
28
Table 4.8 : Have you ever heard of Big real estate Developers such as DLF, Unitech, Amrapali etc.?
29
Table 4.9 : Would you like to buy a property from a renowned real estate company (DLF, unitech etc)
at an additional cost , if a similar property is available at a lesser price? .............................................
30
Table 4.10 : Please tick the Real estate company‟s name you would prefer buying a Property from...
31
Table 4.11 : Please tick the options that you take into consideration while choosing a real estate
company to buy a property from. ..........................................................................................................
32
Table 4.12a): Please rate the following key factors on a scale of 1 to 5 that you take into consideration
while making a buying decision for a residential property:- a)Price ....................................................
33
Table 4.12 b)Privacy .............................................................................................................................
34
Table 4.12 c)Location ...........................................................................................................................
35
Table 4.12 d) Neighborhood ................................................................................................................ 36
Table 4.12 e) Area/size of the property ............................................................................................... 37
Table 4.12 f): Parking facility ................................................................................................................
38
Table 4.12 g): Proximity to workplace .................................................................................................
39
ix
Table 4.12 h): Interiors ......................................................................................................................... 40
Table 4.13 : Factors Ratings ................................................................................................................ 41
Table 4.14 a) : Sources of Information : Newspapers. ......................................................................... 42
Table 4.14 b) : Sources of Information : Television. ............................................................................
42
Table 4.14 c) : Sources of Information : Radio. ....................................................................................
43
Table 4.14 d) : Sources of Information : Property Sites. ......................................................................
43
Table 4.14 e) : Sources of Information : Developer’s Site. ...................................................................
43
Table 4.14 f) : Sources of Information : People’s References. .............................................................
44
Table 4.14 g) : Sources of Information : others. .................................................................................. 45
Table 4.14 h) : Sources of Information : Complied Frequency of Responses. ................................ 46
Table 4.15 : Income level ..................................................................................................................... 47
Table 4.16a) : Relationship between the income level of the respondent and payment plan preferred .
............................................................................................................................................................. 48
Table 4.16b) : Relationship between the income level of the respondent and payment plan preferred:
Chi Square Test . .................................................................................................................. 48
Table 4.17a) : Relationship between the payment plan and * Would you like to buy a property
from a renowned real estate company (DLF, unitech etc) at an additional cost , if a similar property is
available at a lesser price?
. ............................................................................................................................................................. 54
Table 4.17b) : Relationship between the payment plan and * Would you like to buy a property
from a renowned real estate company (DLF, unitech etc) at an additional cost , if a similar property is
available at a lesser price? (Chi Square test)
. ............................................................................................................................................................. 54
Table 4.18a) Please mark the options from which you take help while making a buying
decision? b)Television * What is your annual Income?..........................................................52
decision? b)Property Sites * What is your annual Income?....................................................53
decision? b)Developer’s Sites* What is your annual Income?................................................54
x
decision? b)People’s Reference * What is your annual Income?............................................55
Table 4.19a) What type of residential property do you prefer? * What is your annual Income? Cross
tabulation............................................................................................................................................56
Table 4.19v) What type of residential property do you prefer? * What is your annual Income? Cross
tabulation: Chi Square Test..................................................................................................................57
Table 4.20 : Please rate the following key factors on a scale of 1 to 5 that you take into
consideration while making a buying decision for a residential
property.................................58
xi
Executive Summary
The real estate sector in India assumed greater prominence with the liberalization of the
economy, as the consequent increase in business opportunities and labour migration led to
rising demand for commercial and housing space. At present, the real estate and construction
sectors are playing a crucial role in the overall development of India‟s core infrastructure.
The real estate industry‟s growth is linked to developments in the retail, hospitality and
entertainment (hotels, resorts, cinema theatres) industries, economic services (hospitals,
schools) and information technology (IT)-enabled services (like call centers) etc and vice
versa.The Project is titled „Buying behavior and consumer preferences in the
Residential
Real Estate industry in Delhi NCR region‟. The Study is mainly focuses upon identifying
the buying behavior of the customers and their preferences. The main objective of the study
was to know:
➢ To study the set of factors that a consumer takes into consideration while making a
decision of buying a home in Delhi NCR Region.
➢ To find out the effect of brand preference on the buying behaviour of the consumer.
➢ Buying preferences of the consumers for the type of property.
➢ Preferences of consumers for the type of payment plan.
The study covered most of the areas in Delhi NCR including places like Gurgaon, Noida ,
Ghaziabad , Greater noida and Faridabad and most of the leading realtors .The sampling
technique used for this study was convenient sampling and the sample size was 120. A
descriptive study was conducted via questionnaire involving MCQ‟s, Open ended and close
ended questions. The analysis is done with the help of SPSS, and shown with the help of
Graphs, bars, charts and tables.
As a result of this survey, It was fairly concluded Price is the most important factor in
making the buying decision by customers, people prefer Gurgaon the most for buying a
property in NCR also Market Reliability of a Company is the most preferred factor that the
customers look for before buying a property from it. There is also a significant relationship
between the payment plan preferred and the income level of the customer.
xii
Chapter 1: Introduction
The real estate sector in India assumed greater prominence with the liberalization of the
economy, as the consequent increase in business opportunities and labour migration led to
rising demand for commercial and housing space. At present, the real estate and construction
sectors are playing a crucial role in the overall development of India‟s core infrastructure.
The real estate industry‟s growth is linked to developments in the retail, hospitality and
entertainment (hotels, resorts, cinema theatres) industries, economic services (hospitals,
schools) and information technology (IT)-enabled services (like call centers) etc and vice
versa.
The Indian real estate sector has traditionally been dominated by a number of small regional
players with relatively low levels of expertise and/or financial resources. Historically, the
sector has not benefited from institutional capital; instead, it has traditionally tapped high net-
worth individuals and other informal sources of financing, which has led to low levels of
transparency. This scenario underwent a change with in line with the sector‟s growth, and as
of today, the real estate industry‟s dynamics reflect consumers‟ expectations of higher
quality
with India‟s increasing integration with the global economy.
Residential real estate industry has witnessed stupendous growth in the past few years owing
to the following reasons:
• Continuous growth in population
• Migration towards urban areas
• Ample job opportunities in service sectors
• Growing income levels
• Rise in nuclear families
• Easy availability of finance
1
Demand for houses increased considerably whilst supply of houses could not keep pace with
demand thereby leading to a steep rise in residential capital values especially in urban areas.
Broadly, residential real estate industry can be divided into four growth phases, as can be
seen in the chart below:
1.1 Housing growth trajectory
Phase I (2001-2005) was an initial growth phase with stabilizing residential real estate prices
following the global recovery post the “dot com” bust and 9/11 terrorist attacks in New York.
At the same time, there was steady growth in Indian economic activity, noteworthy recovery
in IT/ITES industry, growing urbanization and a rising trend towards nuclear families.
Phase II (2006-2008) was a high growth phase where high demand for residential real estate
led to doubling of housing prices. Demand rapidly increased due to India‟s growing
population, accentuated urbanization, rising disposable incomes, rapidly growing middle
class and youth population, low interest rates, fiscal incentives on interest and principal
payments for housing loans and heightened customer expectations.
Phase III (2009-2010) witnessed substantial slowdown and part recovery in demand because
of the global economic downturn, which led to a decline in affordability and tight liquidity.
The retreat of various real estate investors, accompanied by slowdown in the capital markets,
has resulted in oversupply and falling prices.
Phase IV (2011-2014) is expected to remain a consolidation phase after slowdown. Demand
is expected to remain strong with capital values witnessing modest rise. This period is
expected to witness substantial supply of housing especially in urban areas.
In spite of the stupendous growth witnessed in the past 10 years, substantial housing shortage
is still prevalent in India. Housing shortage in India is estimated at 78.7 million units at the
end of Phase II. The overall housing shortage in India is likely to decline to 75.5 million units
by the end of Phase IV.
2
However, housing shortage in urban areas will continue to rise owing to migration towards
urban areas and iNCReasing trend of nuclear families. Housing shortage in urban areas is
estimated at 19.3 million units at the end of 2008, up from 15.1 million units at the start of
2005. Housing shortage in urban areas is likely to touch a walloping 21.7 million units by the
end of 2014.
Rural areas, on the other hand, will witness a reduction in housing shortage due to migration
and conversion of kutcha houses into pucca houses. The government‟s continuous focus on
improving the housing situation, especially for population below poverty line, under schemes
like Indira Awaas Yojna, Rajeev Gandhi Aawaas Yojna, Two Million Housing Programme,
is expected to reduce housing shortage in rural areas. Rural housing shortage is expected to
decline to 53.8 million units by 2013-14 from 59.4 million units at the end of 2008.
1.2 Recent industry trends
Despite strong fundamentals backing the residential real estate, the segment is highly
influenced by economic cycles.
Owing to global meltdown, the residential real estate market in India too witnessed an
astounding fall in demand and capital values, between first half of 2008 and first half of 2009.
However, the sector experienced a pickup in demand during the second half of 2009 across
major cities mainly attributed to improvement in economy. Residential projects across cities
saw several new mid-income housing projects being launched by developers to attract
potential buyers.
Demand for houses mounted as the global economy improved bringing back financial
confidence to the home buyers along with low interest rates. End-users, who had put their
purchasing plans on hold due to the fall in affordability levels and job-related uncertainties,
started booking houses.
1.2.1 Delhi
An approximate 75% end-user presence makes this a largely end-user driven market.
However, there is a heavy financier presence in this micro market. Across Delhi it has been
observed that the transactions are at rates much higher than the designated circle rates.Circle
rates are the minimum rates for the valuation of land and immovable properties in Delhi.
These rates are taken into consideration for registration of instruments related to land and
3
immovable properties in Delhi by all the registering authorities. Land transactions are
estimated at rates over 10 times of the circle rates in most parts of the capital city.
According to the Delhi Master Plan 2021, 'greater efficiency and benefits through a unified
metro transport authority' are being targeted. Acknowledging the increased vehicle density,
the government is trying to rope in theprivate sector to develop parking facilities through
multi-level and underground parking spaces. It is also planning an integrated multi-modal
public transport system to reduce the pressure of private transport on the road. Cycle tracks,
pedestrian- and disabled-friendly features in the arterial and sub–arterial roads are also being
planned.
1.2.2 Gurgaon:
Gurgaon markets have reached a high level of appreciation. This year launches have been
slow and the transaction volumes have been low. However, over a 4-5 year period the
Gurgaon market will see good appreciation. This will be because of employment
opportunities, heavy investor appetite and a strong broker community presence in this
micromarket. While Golf Course Road (GCR) and Golf Course Road Extension areas are
seeing the launch of a few high end properties and builders are looking at higher margins,
areas like Dwarka Expressway are seeing interest on account of affordability and the bet on
the future infrastructure in that area.
Price Trends in Gurgaon
4
1.2.3 Noida,
Infrastructure issues
The market has ample supply and the demand has moderated. While the fall of Greater Noida
and Noida Extension markets has benefited Noida (rates have moved up marginally in certain
projects), the situation is one of wait and watch. Over a long term horizon, the Noida markets
will see a 10-15% YoY appreciation on the basis of the healthy infrastructure story in Noida
and its heavy end-user base.
Farmer protests over land acquisition in Greater Noida and Noida Extension have slowed
down the market. We see a downside risk in capital value over the one-year horizon due to
land issues and an oversupply situation. However, over the long term this sector will recover
on account of good infrastructure and continued demand from the sub INR 3,000/sq.ft.
category home buyer.
The Gurgaon real estate market falls under the jurisdiction of the Haryana government
whereas the Noida market comes under the purview of Uttar Pradesh. Buyers tend to invest
their money based on the comfort level with the respective governments.
5
Greater Noida and Noida Extension:
The real estate markets in Gurgaon and Noida are driven by very different dynamics;
they are in fact at contrasting ends of the real estate spectrum in certain aspects.
The Haryana government in Gurgaon allows developers to directly acquire land from
farmers. Later, the builder applies to the government for infrastructure support for his project.
So here, acquisition is followed by the completion of the project and subsequently,
infrastructure support from the government.
However, the Uttar Pradesh government in Noida follows a different model. Here, the
government directly acquires land from the farmers, after which it draws a plan in terms of
infrastructure support for the area, and earmarks plots. The last stage involves auctioning the
plots to builders. So, infrastructure support comes before the residential project.
6
Gurgaon's infrastructure issues in terms of water, power and roads are a cause of concern.
The city lacks proper amenities to support the rising new supply. In comparison to Noida, the
degree of planning and road connectivity in Gurgaon appears to be flat. As discussed earlier,
this comes from the model of land acquisition followed by the government. In Noida many of
the erstwhile infrastructure issues have been resolved with better road connectivity, better
water supply in most pockets, well laid out drainage systems, and reduction of load shedding
from 8-10 hours to just 1-2 hours. The Metro has penetrated till sector 50, with the end
station being 'Noida City Centre'.
7
Chapter 2: Literature Review

Mwfeq Haddad (2011) According to the researcher objective of this study is to investigate
the main factors that influencing the customers' buying behavior toward apartment, and tried
to identify the most influencing factors that affect buying. A convenience sample consists of
120 persons who already bought an apartment in different areas in Amman. One sample ttest,
independent sample t-test, and one-way ANOVA were used in testing the hypotheses. This
study found that respondents would significantly adopt the main constructs when buying
residential apartments, including aesthetic, economic, marketing, geographic, and social
constructs. And the study concluded that there were significant differences in decision
making regarding buying residential apartments according to the sample gender and Age.
And there were significant differences in the respondents answer due to age and there were
no significant differences according to the marital status or educational level. Buying an
apartment is one of the most significant economic decisions that people make, and it requires
gathering a lot of information regarding its features (Hua Kiefer, 2007).
The role of marketing is one of the keys in the success of any businesses. This study
concentrates on the factors that affect purchasing of the real estate; this kind of studies has
not much been investigated in the Jordanian market, particularly in the real estate. It is one of
the businesses that depend on many factors for purchasing. From investigations and field
survey,researchers classified the important factors affecting the decision to buy a definite
apartment and they are: Form,Views, Decoration, Entrance, Design, Finishing, Price,
Advertising, Credibility, Reputation, Income, Interest, Apartment Area, Conversion and
Taxes.
Susan L. Nelson (1998) Most real estate study is base on neoclassical economics.
Consumers are expected to make real estate decisions that maximize their utility and wealth
given price and income constraints. Tastes and preferences are taken as given. The outcomes
of consumer actions are used to infer these preferences. The study of real estate would benefit
from an expansion to include consumer behavior concepts from sociology and psychology as
synthesized through marketing. Inclusion of these concepts in real estate education will help
real estate analysts better explain and predict the behavior of decision-makers in real estate
markets. This paper will present a review of the consumer behaviour literature relevant to real
8
estate and suggest how these concepts could expand real estate study. Much of the study of
consumer behavior focuses on consumer choice. Utility theory in economics and attitude
theory in social psychology have strong similarities and constitute a basis for consumer
decision and choice processes. Consumers purchase goods and services for the benefits
derived from their use. While the study of economics focuses on outcomes, consumer
behavior emphasizes the process. Rather than assuming perfect conditions, consumer
behavior researchers explicitly recognize the impact of situational elements on behavior and
the variance among individuals. Most real estate purchases and leases would be considered
high involvement goods that would require complex decision-making. The three major
comprehensive models of this type of consumer decision making (Engel, Kollat and
Blackwell, 1968; Howard and Sheth, 1969; Nicosa 1966) trace the psychological state
and
behavior of individual purchasers from the point at which they perceive a need through the
search for information, evaluation of alternatives, purchase, and final evaluation of the
consequences. The assumption is that a purchase act is preceded by a sequence of mental
information processing. This involves a cognitive function in forming beliefs, an emotional
component in developing positive or negative attitudes, and a reaction through being
motivated to select and buy.
Maria Carolina (2011) Her research work addresses determinants of housing consumer
behavior. This Brazilian work presents the development of a methodology which combines
the examination of housing attributes and behavioral attitudes about residential mobility,
choice and satisfaction. A theoretical revision is made initially considering these three
processes of architecture and socio-demographic literature. The research method is the
multiple case studies. The data had been collected since 2004. About 80 studies had been
carried. A general vision of the study is presented, with description of the sources of the data.
Presenting one of the cases, the work shows how the progression of households through the
stock is influenced by the circumstances that prompt moves, economic resources and family
life cycle stage. For analysis of this concept, a representative project was developed,
considering the notion of parallelism between professional and housing careers, life cycle
events and family financial aspects. The end results might be used by developers authorities
assessing the impacts of environmental characteristics as dissatisfaction causes of residential
mobility. The knowledge of determinants of housing behavior allows information about the
significance of relationships between the environment and human actions, which might be
9
used by planning authorities in the definition of better subsequent built environments. Two
aspects are essential in the present work: conceptual and methodological. The first concerns
to the work‟s goal in uniting the concepts searched in the several literatures that discuss the
consumer behavior theme, adapting them to an unique and enclosing notion and involving the
theme. The second concerns to the goal of proposing a methodology able to investigate the
consumer behavior from this enclosing conceptual notion. The discussion around the
behavior of the habitation demand frequently is restricted to the works that evaluate the
residential satisfaction, generally backed in the Post-Occupational Evaluation methodology,
already broadly spread in the national scenery. However the demand behavior also involves
other aspects, besides the residential satisfaction. It becomes necessary to consider the
behavior in a systemic manner, relating needs, preferences, motivations that generate the
search for a new house and the characteristics that define the family‟s social economic
profile.
Ebrahim Variawa (2010) Marketers increasingly face challenges in trying to understand the
decision-making processes and behaviors of those consumers located at the Bottom of the
Pyramid (BOP). It has been proven that 73% of fast-moving consumer goods (FMCG)
purchases are made at the point-of sale, and product packaging has been found to play a
strategic role in seven of the ten in-store purchase decision criteria. Packaging is, therefore,
an important basis through which companies can differentiate products from the plethora of
competing brands. On average, big retailers carry 50 000 items and the typical shopper passes
300 items per minute. The packaging must, therefore, perform many of the sales tasks,
making an overall favourable brand impression and experience. The research has attempted
to understand the constructs of packaging and brand experience as purchasing decision
criteria for FMCG products. The researcher administered 250 surveys with low-income
consumers in the Star Hyper supermarket in the mining town of Carlton ville. The findings
demonstrated how low-income consumers have an appreciation of all product packaging as
they often re-use it once the product is consumed. Furthermore, lower income consumers
enjoy a greater brand experience with 'premium' product brands when compared to their
brand experience levels with what they perceive to be 'cheaper' brand products. Even though
a statistical weak relationship between product packaging and brand experience was found,
the qualitative findings support the notion of a strong relationship as lower income consumers
10
gain more value/greater brand experience not just out of consuming 'premium' brand
products, but also from the use of the packaging for other needs afterwards.
Feng Xu (2010) In New Zealand, the housing market is composed of distinct communities
with different roles. These are the buyers, the sellers, and intermediaries between buyers and
sellers of real estate. Real estate agents and brokers, as a third party of housing deals, are a
very important intermediary in the New Zealand real estate industry. On the one hand, they
help people to sell the property professionally and efficiently; on the other hand, they help
people find the optimal home for living or property investment and consolidate loans.
According to Gilbert (2002), less than 0.5% of all property sales are made privately, and
around 80% of properties placed on private sale are transferred to real estate agents within
three months. The real estate industry in New Zealand is now a multi-cultural enterprise
composed of diverse ethnicities, due to New Zealand‟s immigration policy. In the last ten
years, the inflow from „non-traditional countries of origin‟ has particularly increased the
number of new settlers from Asian countries (Bascand, 2009, Aug 14). Increasing diversity
means that all parties must come to grips with the challenge of understanding the housing
needs of people from different cultures. The Chinese are the largest Asian ethnic group in
New Zealand and have been so since the nineteenth century (Bell, 2001). As a result, as
confirmed by local media, there is a large intra-Chinese housing trade market within the
Auckland Chinese community. As the housing demand of the Chinese community is a
valuable resource to support the New Zealand real estate industry, it is significant to have a
timely research on the marketing strategies used in that specified housing market. Ultimately,
the stimulus of Chinese buyers in the housing market can enhance a prosperous New Zealand
economy. This thesis examines two groups of real estate intermediaries - Chinese and non-
Chinese – and investigates the role of these people in New Zealand, particularly as it
concerns the principles, behaviours, relationships and practices of Chinese and non-Chinese
real estate personnel vis-à-vis their clients and the mortgage market. In this study, the
research domain 5 of the housing market we are focusing on is the Auckland region, which
includes Auckland City, Manukau City, North Shore City, Waitakere City, Franklin District,
Papakura District, Rodney District, Waiheke and Hauraki Gulf Islands (Housing New
Zealand Corporation, 2005). However, the four main cities, as the metropolitan area, are the
main research regions of this study.
11
Melika Husić-Mehmedović (2010) Real estate property is defined as a financial asset that
brings interest, benefits and encumbrances inherent in the ownership of the land and all
improvements that are permanently related to it. Real estate market is recognized as a market
of the constant rising value, independent of the particular country development. During last
20 years Bosnia and Herzegovina (further B&H) went through the large transitional changes.
Challenges facing today's real estate market in B&H have never been so difficult. Real estate
ownership is an unobtainable goal for most of the employed young people. Main topic of this
paper is decision making process of the new emerging segment called young professionals in
relations to real estate market and understanding their buying behavior. Combining
quantitative and qualitative methods, it analysis the real estate market in Bosnia and
Herzegovina in the period directly influenced by the recent economic crisis. This research is
testing the influence of the specific reference groups (family, friends and experts) of the
young professionals (up to 35), during their real estate purchase. This kind of decision
making is a complex process, but still the most important part of the real estate purchase.
Research has shoved that family and friends have the main influence in the process, however
their importance varies upon their education/age level, family life cycle stage, level of self
esteem and their life style. Findings of the research have great managerial implications in
order to help sellers to develop segment oriented offerings and selling strategy.
Brian A. Glanville (2006) The rapid changes of the last decade, in both real estate markets
and the global economy, have created an interconnected world where barriers of time and
geography have fallen away. Real estate‟s growing place in investment portfolios demands
that any professional dealing with real property be prepared to play on this new field.
International activities offer the Appraisal Institute a strong potential for growth. Such
activities also offer Appraisal Institute members the opportunity to learn firsthand how to do
business abroad and reap the financial benefit of providing services for multinational
clients. Building on its history of leadership in developing and disseminating real estate
valuation theory, the Appraisal Institute is in a position to see that this theory is transferred in
practical ways around the world. The organization‟s core competencies are in high demand
by the international community. By taking the lead to ensure the systematic development of
markets around the world, the organization can realize growth in both membership and
business opportunities for all members.
12
Jonathan Kohn (2007) The US economy experienced excessive demand for housing for
over a decade, causing a housing boom. Consumers went on a spending spree driven by
higher and higher, real and perceived home equity values, as well as equity market increases.
In the US market, “bigger is better” or “as much as one can afford” became the mentality of
home buyers. In addition, consumers were driven to buy houses now to avoid future higher
prices. Interest rates were generally held to historic lows from 1990 to about 2007. For a long
time, the Federal Reserve was praised for helping the financial markets sustain their roles in
the housing markets. Since the housing market crash, beginning about 2006, the Federal
Reserve has been blamed for the housing crisis. This research examined the housing market
boom to determine what factors led to this economic situation.
(KEMENY, 1998) Comparative housing research has become a major ® eld of investigation
in the last two decades, and it is now possible to discern distinct approaches. In this paper we
present an overview of the literature, distinguishing between three dominant perspectives. At
one extreme are particularistic approaches which are conceptually unexplicated and highly
empirical and in which each country is seen as unique. At the other extreme are universalistic
approaches in which all countries are seen as being subjected to the same overriding
imperatives, whether this is „the logic of industrialism‟, capitalist market failures, the
structural drive to increasingly comprehensive welfare states or its opposite, the privatisation
and recommodi® cation of welfare. In between these two extremes are studies which attempt
to develop what might be called „theories of the middle range‟ and to discern typologies of
housing systems.
(PUGH, 2001) In terms of welfare, development, and overall distributional impact, the study
of whole sector housing development is more signiŽ cant than attention to parts of a housing
system. Housing policy development is increasingly taking the more comprehensive
approach. The Ž rst phases of international housing policy, 1972–83, represented in sites and
services (and related in situ slum upgrading) projects, could never become completely
effective. These approaches had only fragmentary relationships to general land policies, to
the development of housing Žnance systems, and to the broader economic, social and
institutional conditions for enhancing the qualities and supplies of housing. In due time the
theoretical and practical limitations became apparent and various international aid agencies,
13
including the World Bank, adopted broader, more sophisticated thinking in housing, leading
to a quest for whole sector housing development. But in the late 1990s, within managerial
reforms in the World Bank, the specialist housing section was disbanded and the staff
dispersed to other sections. This paper provides an historical explanation for the change,
along with critical commentaries on the potential dilemmas with the modern, more
comprehensive approaches. It is argued that policy and research agendas should be more
evidently based upon understanding of the developmental dialectic between the economic,
the social and the political. The developmental welfare of such a dialectic has authority and
legitimacy from several Nobel prize winners in the 1990s. This paper re•ects upon the
relevance of their theoretical contributions.
(Clapham, 1996) The intention of this review is to examine the nature and dynamics of
housing systems by reviewing research on the relationship between housing markets and the
market economy of which they are part. The example taken here is Britain, which, although
usually categorised as somewhere between a market and a welfare system, has under
continuous right-wing governments since 1979, moved far closer to the ideal type market
housing system in the last decade. However, this move has been problematic in many
respects and an analysis of the impact of the changes shows many problems associated with a
market approach. Many of these problems relate to the speci® c situation in Britain, but
others may reject the more general problems which are inherent in market systems.
14
CHAPTER 3 : Research Methodology

3.1.1 Research title
„Buying behavior and consumer preferences in the Residential Real Estate industry in
Delhi NCR region‟.
3.1.2 Objectives of Study
➢ To study the set of factors that a consumer takes into consideration while making a
decision of buying a home in Delhi NCR Region.
➢ To find out the effect of brand preference on the buying behaviour of the consumer.
➢ Buying preferences of the consumers for the type of property.
➢ Preferences of consumers for the type of payment plan.
3.1.3 Hypothesis
H0: There is not a significant relationship between the type of property preferred and Income
level of the person .
HA: There is a significant relationship between the type of property preferred and Income
level of the person.
H1: There is not a significant relationship between type of payment plan preferred and
income level of the customer.
H2: There is a significant relationship between type of payment plan preferred and income
level of the customer.
3.4 Research Design
The methodological approach to this study is descriptive, because the researcher has
attempted to identify and explain variables that exist in a given situation and to describe the
relationship that exists between these variables.
15
To study the impact of consumer perception, the researcher first carried out a Descriptive
analysis with the help of Questionnaire over 120 respondents. Then to understand the
different perception of people of different areas the researcher has conducted personal
interviews of people from different demographic profiles in order to distinguish among their
thoughts, view towards the Real estate Industry in Delhi/NCR region.
3.5 Questionnaire Design
A structured questionnaire was prepared to get the most efficient and accurate results from
the survey. The research question specifies the information the decision making needs.
3.6 Data Collection
Both Primary and Secondary data was collected during the project.
Primary data was collected through questionnaire filling and interviews. The questionnaire
is designed in structured form and most of the questions were multiple choice questions. And
some open ended questions were also included in the questionnaire. Respondents were asked
to complete 5 point Likert scale in some questions.
Secondary data: The major source of secondary data is:
• Internet
• Product‟s websites
• Articles from marketing magazines
• Research papers
• Journals
3.7 Sampling Design
There are four steps involve in the sampling design process. These steps are closely
interrelated and relevant to all aspects of the marketing research project. These steps are as
follows:
16
3.7.1 Define the target population
The target population is the collection of elements or objects that possess the
information sought by the researchers and about which the inferences are to be made. The
target population represents the Delhi/NCR regions. The people were from different
professional backgrounds.
3.7.2 Select a sampling technique
The sampling technique used in this project is Convenient Sampling Technique. It is
because equal opportunity should be provided to every kind of people in order to obtain
better result to understand the consumer perception. The selection of sampling units is left
primarily to the interviewer. Often, respondents are selected because they happen to be on
right place at the right time.
3.7.3 Determine of the sample size
Sample size refers to the number of units or respondents to be included in the study.
One of the important considerations in the sample size determination is the sample size used
in the similar studies and the resource constraints. In the study, sample size is influenced by
the target population. So, sample size of 120 customers, to obtain better results for analyzing
the perception of consumers.
3.8 Instruments Used for analysis
The basic instrument used in the research is the structured questionnaire with both open and
close ended questions. Most of the questions are Multiple choice and options are provided. It
is kept so in order to maximize the response of the Respondents.
17
CHAPTER 4: DATA ANALYSIS AND INTERPRETATION

4.1: Number of People who are permanent residents of Delhi Ncr.
Table 4.1
:
Are you a permanent resident of Delhi NCR

region?
Frequency Percent Valid Percent
Cumulative
Percent
Valid Yes 103 85.8 85.8 85.8
No 17 14.2 14.2 100.0
Total 120 100.0 100.0
Figure 4.1: Are you a permanent resident of Delhi NCR region?
Interpretation: The above Figure 4.1 suggests that almost 5/6th of the respondents are permanent
residents of Delhi NCR. That will help the results to be more efficient and accurate.
18
4.2: Number of people who have bought a property in Delhi NCR
Table 4.2: Have you ever bought any property in Delhi NCR?
Cumulative
Percent
Valid Yes 109 90.8 90.8 90.8
No 11 9.2 9.2 100.0
Total 120 100.0 100.0
Figure4. 1 : Have you ever bought any property in Delhi NCR?
Interpretation: In the above pie chart it can be seen that 90.83% of the total respondents
have actually bought a property in Delhi and NCR region.
19
4.3 : Number of years respondents have been living in Delhi Ncr.
Table 4.3 : For how many years have you been living here?
Cumulative
Percent
Valid <5 years 18 15.0 15.0 15.0
5-10 years 18 15.0 15.0 30.0
10-25 years 62 51.7 51.7 81.7
>25 years 22 18.3 18.3 100.0
Total 120 100.0 100.0
Figure 4. 2: For how many years have you been living here?
As seen in the above pie chart, almost half of the Respondents have been staying in Delhi Ncr
for last 10-25 years, on the second place are the ones living in Delhi for more than 25 years in
Delhi Ncr.
20
4.4 : Ranking of localities in order of preference.
Table : 4.4a). : Compiled ranking of localities(NCR) in order of preference.
Rank
1
Rank
2
Rank
3
Rank
4
Rank
5
Faridabad 11 6 33 33 37
Noida 36 37 19 11 17
Gurgaon 41 28 17 20 14
Greater Noida 5 34 28 31 22
Ghaziabad 33 15 17 25 30
Figure 3.4 a): Compiled ranking of localities(NCR) in order of preference.
As seen above, Gurgaon has received maximum number 1st Rank by the respondents. With a
high growth rate and more and more companies are opening their offices in gurgaon. People
tend to prefer gurgaon as its close to their workplace and there is a good availability of
nearby markets, malls, cinema halls , 5 star Hotels which make gurgaon a perfect choice for
property buyers. Noida has got maximum number of Rank 2 as its growing very rapidly and
most of the big realtors are eyeing Noida as a profitable area to invest in.
Faridabad has been given maximum of 3
rd
,4
th
and 5th Ranking, closely followed by Greater

Noida for the 3rd and 4th Rank . This may be a result of steady developmental growth in
Faridabad and Greater noida these days. Companies are also moving their offices to these
localities as property is comparably cheap as compared to Gurgaon and Noida.
21
Tabel 4.4b) Is there any specific reason for giving that locality the highest ranking?
Frequency Percent Valid Percent Cumulative Percent
Valid Yes 35 29.2 29.2 29.2
No 85 70.8 70.8 100.0
Total 120 100.0 100.0
Figure 4.4b) : Is there any specific reason for giving that locality the highest ranking?
Almost one third of the Respondents have a specific reason for giving the locality the highest
rating in the last part. The main reasons were mainly composed of responses such as good
locality, close to the workplace, scope of high capital appreciation, good development rate,
availability of markets, malls etc affordable price of properties etc.
22
4.5: Number of Respondents who have bought properties in Delhi Ncr for
the purpose of Investment.
Table 4.5:
Have you ever bought a residential property in the Delhi NCR region for the
purpose of Investment?
Valid Yes 79 65.8 65.8 65.8
No 41 34.2 34.2 100.0
Total 120 100.0 100.0
Figure 4.5 : Have you ever bought a residential property in the Delhi NCR region for the purpose of Investment?
The above pie chart shows that almost 66% of the Respondents have bought properties for
the purpose of Investment as Real estate is considered a good option to invest in and it gives
good returns in terms of capital appreciation and can also serve the purpose of a regular
Income by Renting and leasing.
23
4.6 Type of Residential Property Preferred.
Table No. 4.6a) : What type of residential property do you prefer?
Valid Residential Plot 12 10.0 10.0 10.0
Independent House 21 17.5 17.5 27.5
Multi-storey apartment 33 27.5 27.5 55.0
Builder floor 27 22.5 22.5 77.5
villa 12 10.0 10.0 87.5
Other 15 12.5 12.5 100.0
Total 120 100.0 100.0
Figure 4.6a) : What type of residential property do you prefer?
In the above figure, its easily seen that with 27.5% multi-storey apartments score the
maximum in terms of preference for the type of property closely followed by Builder floor
with 22.5%. Families these days have a desire to buy a floor so that the whole family could
live together on the same floor as it‟s hard to move up and down in case of properties with
multiple floors. Also, Independent houses and villas are comparably pricier as compared to
multi-storey apartments and builder floors.
24
Table 4.6b) Will your preference in the last question change if the property is being
bought for investment purpose?
Cumulative
Percent
Valid Yes 71 59.2 59.2 59.2
No 49 40.8 40.8 100.0
Total 120 100.0 100.0
Figure 4: Will your preference in the last question change if the property is being bought for investment purpose?
Surprisingly, it‟s seen in the above data that almost 60% of the total respondents would
change their Preference for type of property if the property is being bought for investment
purpose.
25
4.6c) If yes , What will be your preference in that case?
Residential
Plot
Independent
house Multi storey Builder floor Villa others
For Investment 28.14 22.5 25.53 14.08 4.2 5.6
Figure 4.6c ) : If yes, what will be your preference in that case?
In case of buying a property for Investment, a drastic change can be seen in the above data
where Residential plot gets the maximum score with 28.14%, closely followed by multi-
storey apartments with 25.5% and Independent house with 22.5%.
26
Residential
Plot
Independent
house
Multi
storey Builder floor Villa others
For living 10 17.5 27.5 22.5 10 12.5
For Investment 28.14 22.5 25.53 14.08 4.2 5.6
Figure 4.6 d) : Data Comparison
In the above Bar graph, it can be seen that the preference for buying a residential plot has
jumped from 10%(Living) to 27.5%(Investment) . Preference for buying and Independent
house have also moved higher from 17.5% to 22.5 %, whereas multi-storey apartments have
gone down a little from 27% to 25.2% .
Data Comparison
Table 4.6d
27
4.7 Preferred Payment Plan.
Table 4.8: For buying a property , what payment plan do you prefer ?
Cumulative
Percent
Valid Down payment Plan 23 19.2 19.2 19.2
Flexi Plan 40 33.3 33.3 52.5
Construction linked plan 57 47.5 47.5 100.0
Total 120 100.0 100.0
Figure 4.7): For buying a property , what payment plan do you prefer ?
Its clearly seen above that almost half of the Respondents prefer to buy a property with the
construction linked plan where the payment is made in instalments according to the progress
in construction of the property. 33.3% People prefer the flexi plan which is a mix of
construction linked and down payment plan. Down payment plan gets the lowest preference
with 19.1%.
28
4.8 : Respondent‟s awareness of Big real estate developers.
Table 4.8 Have you ever heard of Big real estate Developers such as DLF, Unitech,
Amrapali etc. ?
Cumulative
Percent
Valid Yes 104 86.7 86.7 86.7
No 16 13.3 13.3 100.0
Total 120 100.0 100.0
Figure4.8: Have you ever heard of Big real estate Developers such as DLF, Unitech, Amrapali etc.?
It‟s seen above that a very high percentage (86.67%) of Respondents have heard about the
renowned real estate developers such as DLF, Unitech ,Amrapali etc.
29
Table 4.9 : Would you like to buy a property from a renowned real estate
company (DLF, unitech etc) at an additional cost , if a similar property is available
at a lesser price?
Cumulative
Percent
Valid Yes 69 57.5 57.5 57.5
No 51 42.5 42.5 100.0
Total 120 100.0 100.0
Figure4.9 : Would you like to buy a property from a renowned real estate company (DLF, unitech etc) at an additional cost ,
if a similar property is available at a lesser price?
From the above data it can be interpreted that people do have a brand preference in the real
estate Industry as more than half i.e. 57.5% Respondents are ready to pay an additional cost
to buy a property from a renowned real estate company such as DLF, Unitech etc.
30
4.10 : Real Estate Company Preference
Table 4.10 : Please tick the Real estate company‟s name you would prefer buying a
Property from.
Cumulative
Percent
Valid DLF 42 35.0 35.0 35.0
Unitech 23 19.2 19.2 54.2
Supertech 18 15.0 15.0 69.2
Amrapali 5 4.2 4.2 73.3
BPTP 11 9.2 9.2 82.5
Emaar MGF 11 9.2 9.2 91.7
Ansal API 10 8.3 8.3 100.0
Total 120 100.0 100.0
Figure 4.10 : Please tick the Real estate company‟s name you would prefer buying a Property from.
Dlf has got the maximum preference for buying a property from with 35% i.e more than
1/3rd
of the sample,followed by unitech with 19.17% and Supertech with 15% preference.
31
Table 4.11 Please tick the options that you take into consideration while choosing a real estate company to buy a
property from :-
Valid Market Reliability 48 40.0 40.0 40.0
Financial Stability 23 19.2 19.2 59.2
Word of Mouth 6 5.0 5.0 64.2
Customer Service 17 14.2 14.2 78.3
Earlier completed Projects 15 12.5 12.5 90.8
Any other 11 9.2 9.2 100.0
Total 120 100.0 100.0
Figure 4.11: Please tick the options that you take into consideration while choosing a real estate company to buy a property
from.
Most people choose market reliability(40%) as the main consideration before buying a
property from a real estate company followed by , financial stability with 19.17% , customer
service with 14.17% and success of earlier completed projects with 12.5% .
32
4.12: Ratings of key factors while making buying decision
Table 4.12a) : Please rate the following key factors on a scale of 1 to 5 that you take into consideration while making
a buying decision for a residential property:- a)Price
Valid Least Important 17 14.2 14.2 14.2
Somewhat Important 22 18.3 18.3 32.5
Neutral 11 9.2 9.2 41.7
Important 28 23.3 23.3 65.0
Most Important 42 35.0 35.0 100.0
Total 120 100.0 100.0
Figure 4.12a): Please rate the following key factors on a scale of 1 to 5 that you take into consideration while making a
buying decision for a residential property:- a)Price
Almost 35% respondents have given Price the most Important rating, that means price is the
most crucial variable which highly affects the buying decision of the buyer.
33
4.13b Table
:
Please rate the following key factors on a scale of 1 to 5 that you take into
consideration while making a buying decision for a residential property:- b)Privacy
Cumulative
Percent
Neutral 23 19.2 19.2 57.5
Important 33 27.5 27.5 85.0
Most Important 18 15.0 15.0 100.0
Total 120 100.0 100.0
Figure 4.12 b) Privacy
Privacy gets the maximum rating as Important with 27.5%.
34
Table 4.12 c) : Please rate the following key factors on a scale of 1 to 5 that
you take into consideration while making a buying decision for a
residential property:- c)Location
Cumulative
Percent
Neutral 11 9.2 9.2 46.7
Important 40 33.3 33.3 80.0
Most Important 24 20.0 20.0 100.0
Total 120 100.0 100.0
Figure 5 : c) Location
Location also gets the maximum rating as Important with 33.33% , followed by most
Important with 20% .
35
Table 4.12 d :Please rate the following key factors on a scale of 1 to 5 that
residential property:- d)Neighbourhood
Cumulative
Percent
Neutral 35 29.2 29.2 66.7
Important 23 19.2 19.2 85.8
Most Important 17 14.2 14.2 100.0
Total 120 100.0 100.0
Figure 4.12 d) : Neighborhood
36
Table 4.12e :Please rate the following key factors on a scale of 1 to 5
that you take into consideration while making a buying decision for a
residential property:- e)Area/size of the property
Cumulative
Percent
Neutral 10 8.3 8.3 55.0
Important 36 30.0 30.0 85.0
Most Important 18 15.0 15.0 100.0
Total 120 100.0 100.0
Figure 4.12e) : Area/size of the property
Area/size of a property gets maximum rating as least important with 33.33%.
37
Table 4.13 f) : Please rate the following key factors on a scale of 1 to 5 that
residential property:- f) Parking facility
Cumulative
Percent
Neutral 22 18.3 18.3 61.7
Important 29 24.2 24.2 85.8
Most Important 17 14.2 14.2 100.0
Total 120 100.0 100.0
Figure 4.12 f) : Parking facility
Parking facility gets equal ratings of Somewhat important and important with 24.17%.
38
Figure 4.13 g) : Please rate the following key factors on a scale of 1 to 5
that you take into consideration while making a buying decision for a
residential property:- g) Proximity to workplace
Cumulative
Percent
Neutral 24 20.0 20.0 52.5
Important 22 18.3 18.3 70.8
Most Important 35 29.2 29.2 100.0
Total 120 100.0 100.0
Figure 4.12 g) : Proximity to workplace
Proximity to workplace also gets the maximum rating of most important with 29.17%.
39
Table 4.13 h) :Please rate the following key factors on a scale of 1 to 5 that
residential property:- h) Interiors
Cumulative
Percent
Neutral 23 19.2 19.2 67.5
Important 28 23.3 23.3 90.8
Most Important 11 9.2 9.2 100.0
Total 120 100.0 100.0
Figure 4.12 h): Interiors
Interiors get maximum rating as somewhat important with 28.5%.
40
proximity Table
to
No.4.13 Price privacy location neighbourhood
workplace interiors
Least
Important
17 16 22 28 40 23 17 17
Somewhat
Important
22 30 23 17 16 29 22 41
Neutral 11 23 11 35 10 22 24 23
Important 28 33 40 23 36 29 22 28
Most
Important
42 18 24 17 18 17 35 11
4.13 Factors Ratings

Figure 4.13: Factors Ratings
Least important is the area of the property
Somewhat important are the interiors of the property
Respondents are neutral to the neighbourhood
Important is the location
Most important is the price of the property.
area/size of
property parking
41
4.14: Important sources of Information
Table 4.14 a) : Please mark the options from which you take help while making a buying
decision? a)Newspapers
Cumulative
Percent
Valid check 74 61.2 61.7 61.7
unchek 46 38.0 38.3 100.0
Total 120 99.2 100.0
Missing System 1 .8
Total 121 100.0
b)Television
Table 4.14 b) Please mark the options from which you take help while making a buying
decision? b)Television
Cumulative
Percent
Valid check 68 56.2 56.7 56.7
unchek 52 43.0 43.3 100.0
Total 120 99.2 100.0
Missing System 1 .8
Total 121 100.0
42
c)Radio
Table 4.14 c Please mark the options from which you take help while making a buying
decision? c)Radio
Cumulative
Percent
Valid check 69 57.0 57.5 57.5
unchek 51 42.1 42.5 100.0
Total 120 99.2 100.0
Missing System 1 .8
Total 121 100.0
d) Property sites
Table 4.14 d : Please mark the options from which you take help
while making a buying decision? d)Property sites(Makaan.com,99
acres.com)
Cumulative
Percent
Valid Check 79 65.3 65.8 65.8
Unchek 41 33.9 34.2 100.0
Total 120 99.2 100.0
Missing System 1 .8
Total 121 100.0
43
e) Developers sites
Table 4.14 e: Please mark the options from which you take help
while making a buying decision? e) Developer's Site
Cumulative
Percent
Valid check 78 64.5 65.0 65.0
unchek 42 34.7 35.0 100.0
Total 120 99.2 100.0
Missing System 1 .8
Total 121 100.0
f) Perople‟s references
Table 4.14 f : Please mark the options from which you take help
while making a buying decision? f) People's References
Cumulative
Percent
Valid check 62 51.2 51.7 51.7
unchek 58 47.9 48.3 100.0
Total 120 99.2 100.0
Missing System 1 .8
Total 121 100.0
44
g) Others
Table 4.14 g : Please mark the options from which you take help
while making a buying decision? g) Others
Cumulative
Percent
Valid check 20 16.5 16.7 16.7
unchek 100 82.6 83.3 100.0
Total 120 99.2 100.0
Missing System 1 .8
Total 121 100.0
45
Other
s
Source of
Information 74 68 69 79 78 62 20
Table 4.14 h): Complied Frequency of Responses
Property
sites
Developer'
s site
People's
references
Newspapers Television Radio
Figure 4.14 h): Source of Information.
From the compiled data for the sources of information , it can be seen that Property sites(79)
are the most preferred source of information , very closely followed by developer‟s site(78)
and newspaper (74) .
46
Cumulative
Percent
Valid <10 Lakhs 30 25.0 25.0 25.0
10-25 lakhs 35 29.2 29.2 54.2
25-50 lakhs 24 20.0 20.0 74.2
>50 lakhs 31 25.8 25.8 100.0
Total 120 100.0 100.0
Figure 4.15 : Income level
29.17% of the total respondents are from 10-25 lakhs annual income level group , closely
followed by 25-50 lakhs income group .
4.15
:
Income Level of the Respondent.

Table 4.15 : What is your annual Income?
47
Crosstabs:
Figure 4.16a)
Crosstab
Count 4.16: Relationship between the income level of the respondent and
payment
plan preferred.
Table No: 4.16a)
What is your annual Income?
<10 Lakhs 10-25 lakhs 25-50 lakhs >50 lakhs Total For
buying a property , what
payment plan do you prefer ?
Down payment Plan 5 1 2 15 23
Flexi Plan 9 15 12 4 40
Construction linked plan 16 19 10 12 57
Total 30 35 24 31 120
:
Relationship between the income level of the respondent and payment plan preferred .
Interpretation: In the above table 4.16 we can see that Respondents who are having an
annual income of less than 25 lakhs are likely to choose Construction linked payment plan,
whereas in case of Respondents in the 25-50 lakhs annual income level are likely to go for
Flexi payment plan and Respondents with more than 50 lakhs annual income preferred the
Down payment Plan.
48
Table 4.16b) Chi-Square Tests
Value df
Asymp. Sig. (2-
sided)
Pearson Chi-Square 12.795a 6 .046
Likelihood Ratio 15.254 6 .018
Linear-by-Linear Association 3.437 1 .064
N of Valid Cases 21
a. 12 cells (100.0%) have expected count less than 5. The minimum expected
count is .76.
Significance level is less than .05 that means there is a significant relationship between
the income level of the respondent and payment plan preferred. So, the null hypothesis
is rejected as P-value is less than .05
49
4.17a) : For buying a property , what payment plan do you prefer ? *
Would you like to buy a property from a renowned real estate company
(DLF, unitech etc) at an additional cost , if a similar property is available at
a lesser price?
Table 4.17a) Crosstab
Would you like to buy a property from
a renowned real estate company (DLF,
unitech etc) at an additional cost , if a
similar property is available at a lesser
price?
Yes No Total For buying a property , what
payment plan do you prefer ?
Down payment Plan 6 17 23
Flexi Plan 17 23 40
Construction linked plan 46 11 57
Total 69 51 120
The above data clearly suggests that people who prefer the Down payment plan are
likely not to pay additional cost to buy a property from a renowned real estate
company (DLF, Unitech etc) and same is the case with flexi plan but people preferring
the construction linked plan are likely to go for a brand and ready to pay any
additional cost for buying the property.
50
Chi-Square Tests
Table No 4.17b)
Value df
Asymp. Sig. (2-
sided)
N of Valid Cases 120
a. 0 cells (.0%) have expected count less than 5. The minimum expected count is
9.78.
the Brand preference of the respondent and payment plan preferred .
51
4.18 Please mark the options from which you take help while making a
buying decision? a)Television * What is your annual Income?
Crosstab
Count
Table No . 4.18a)
<10 Lakhs 10-25 lakhs 25-50 lakhs >50 lakhs Total Please mark the options
from
which you take help while
making a buying decision?
b)Television
check 24 20 14 10 68
unchek 6 15 10 21 52
Total 30 35 24 31 120
The above data can be interpreted as the people who use Television as the source of gaining
information regarding the real estate industry are from less than 10 lakhs annual income level
group.
Chi-Square Tests
Value df
Asymp. Sig. (2-
sided)
10.40.
the Television-Source of Information and Income level of the person .
52
4.18) Please mark the options from which you take help while making a buying
decision? b)Property sites(Makaan.com,99 acres.com) * What is your annual
Income?
Crosstab
Count
Table No 4.18b)
from
making a buying decision?
d)Property sites(Makaan.com,99
acres.com)
check 23 28 7 21 79
unchek 7 7 17 10 41
Total 30 35 24 31 120
The above data can be interpreted as the people who use Property sites as the source of
gaining information regarding the real estate industry are from 10-25 lakhs annual income
level group.
Chi-Square Tests
Value df
Asymp. Sig. (2-
sided)
8.20.
the Property sites-Source of Information and Income level of the person .
53
4.18c) Please mark the options from which you take help while making a buying
decision? c) Developer's Site * What is your annual Income?
Crosstab
Count
Table No. 4.18c)

from
making a buying decision? e)
Developer's Site
check 25 23 11 19 78
unchek 5 12 13 12 42
Total 30 35 24 31 120
The above data can be interpreted as the people who use Developer‟s sites as the source of
gaining information regarding the real estate industry are from less than 10 lakhs annual
income level group.
Chi-Square Tests
Value df
Asymp. Sig. (2-
sided)
8.40.
the Developer‟s sites-Source of Information and Income level of the person .
54
4.18d) Please mark the options from which you take help while making a buying
decision? d) People's References * What is your annual Income?
Crosstab
Count
Table No 4.18d)
<10 Lakhs 10-25 lakhs 25-50 lakhs >50 lakhs
Total
Please mark the options from
making a buying decision? f)
People's References
check 19 15 17 11 62
unchek 11 20 7 20 58
Total 30 35 24 31 120
The above data can be interpreted as the people who use People‟s references as the source of
gaining information regarding the real estate industry are from less than 10 lakhs annual
income level group.
Chi-Square Tests
Value df
Asymp. Sig. (2-
sided)
11.60.
55
4.19 What type of residential property do you prefer? * What is your
annual Income?
Cross tabulation
Table no 4.19a)
<10 Lakhs 10-25 lakhs 25-50 lakhs >50 lakhs Total
What type of residential
property do you prefer?
Residential Plot 5 5 0 2 12
Independent House 5 9 3 4 21
Multi-storey apartment 9 9 4 8 33
Builder floor 8 7 6 6 27
villa 3 0 1 11 12
other 0 5 10 0 15
Total 30 35 24 31 120
the People‟s References-Source of Information and Income level of the person .
In the above table, its clearly suggested that people who are in the income level of less than
10 lakhs are likely to prefer Multi-storey apartments , people who are in the income level
group of 10-25 lakhs are likely to go for either independent house or multi-storey apartment,
in case of people from 25-50 lakhs income level group are likely to go for other type of
properties such as serviced apartments or studio apartments , in case of people from more
than 50 lakhs income level group are likely to go for buying a villa.
56
Chi-Square Tests
Table No. 4.19b)

Value df
Asymp. Sig. (2-
sided)
Pearson Chi-Square 45.338
a
15 .000
a. 13 cells (54.2%) have expected count less than 5. The minimum expected
count is 2.40. Significance level is less than .05 that means there is a significant
relationship between
the type of property preferred and Income level of the person. So, the null hypothesis is
rejected as P-value is less than .05
57
4.20 Correlations:
Table 4.20 : Please rate the following key factors on a scale of 1 to 5 that
you take into
consideration while making a buying decision for a residential property.
a)Price b)Privacy c)Location d)Neighbourhood
e)Area/
size of
the
propert
y
g)
Proximity
to
workplace
h)
Interiors
Please rate the following key
factors on a scale of 1 to 5
that you take into
consideration while making a
buying decision for a
residential property:- a)Price
f) Parking
facility
Pearson
1 -.234** .597** .313** -.107 .003 .193* -.104
Correlation Sig. (2-
.010 .000 .001 .245 .978 .035 .256
tailed)
N 120 120 120 120 120 120 120 120
that you take into
residential property:-
b)Privacy
Pearson
-.234** 1 -.042 -.452** -.113 -.006 -.138 .088
Correlation
Sig. (2-
tailed)
.010 .649 .000 .219 .946 .134 .339
N 120 120 120 120 120 120 120 120
that you take into
c)Location
Pearson
.597** -.042 1 .338** -.318** -.078 -.084 .055
Correlation
Sig. (2-
tailed)
.000 .649 .000 .000 .398 .363 .551
N 120 120 120 120 120 120 120 120
that you take into
d)Neighbourhood
Pearson
.313** -.452** .338** 1 -.175 -.546** -.092 -.155
Correlation
Sig. (2-
tailed)
.001 .000 .000 .056 .000 .315 .091
N 120 120 120 120 120 120 120 120
that you take into
Pearson
-.107 -.113 -.318** -.175 1 -.164 .228* -.090
Correlation
Sig. (2-
tailed)
.245 .219 .000 .056 .073 .012 .327
N 120 120 120 120 120 120 120 120
58
e)Area/size of the property
that you take into
residential property:- f)
Parking facility
.978 .946 .398 .000 .073 .798 .000
N 120 120 120 120 120 120 120 120
that you take into
residential property:- g)
Proximity to workplace
Pearson
.003 -.006 -.078 -.546** -.164 1 -.024 .356**
Correlation
Sig. (2-
tailed)
Pearson
.193* -.138 -.084 -.092 .228* -.024 1 -.148
Correlation
Sig. (2-
.035 .134 .363 .315 .012 .798 .106
tailed)
N 120 120 120 120 120 120 120 120
that you take into
residential property:- h)
Interiors
Pearson
-.104 .088 .055 -.155 -.090 .356** -.148 1
Correlation
Sig. (2-
tailed)
.256 .339 .551 .091 .327 .000 .106
N 120 120 120 120 120 120 120 120
**. Correlation is significant at the 0.01 level (2-tailed).
*.Correlation is significant at the 0.05 level (2-tailed).
In the above correlation table 4.20, it‟s showing the correlation between various factors
affecting the buying decision for a property by a customer. In the first row its clearly seen
that Price is having a negative correlation (.010) with privacy (-.234), that means a person
rating price as most important factor is likely to rate privacy as least important or somewhat
important. It also shows a positive correlation between price and location (.597) that means a
person rating price as most important factor would most probably rate location as most
important as well, price also has a positive correlation with neighborhood (.313) and a
negative correlation with the interiors (-.256).
Coming to the second row, the privacy factor has a negative correlation with price (-.234) as
discussed earlier. Privacy also shows a very strong negative correlation with neighborhood (-
.452) that means a person who considers privacy as the most important factor while making a
buying decision for a property would consider neighborhood as the least important factor.
In the third row, Location shows a very strong positive correlation with price (.597) as
already discussed above, it also shows a positive correlation with the neighborhood (.338) , a
negative correlation is found in relation with the area or size of the property (-.318) that
means that a person preferring a good location would be happy to forgo the big size of the
property.
59
In the fourth row, Neighborhood is having a very strong positive correlation with the price
(.597) as discussed earlier in the first paragraph, it also shows a negative correlation with the
privacy factor (-.452) , a positive correlation with location (.338). Neighborhood also has a
strong negative correlation with the parking facility (-.546) that means a person who prefers
neighborhood of a property is likely to forgo the parking facility.
In the fifth row, area/size of the property is having a strong negative correlation with the location
factor (-.318) as already discussed above. It also shows a positive correlation with the proximity to
workplace (.228).
In the sixth row, Parking facility shows a negative correlation with the neighborhood factor (-.546)
and also shows a positive correlation with the interiors. A person who considers parking facility as the
most important fact is likely to consider the interiors of the house as the most important factor as well.
In the seventh row, Proximity to workplace is in positive correlation with the price (as discussed
above), it also shows a positive correlation with the area/size of the property (.228)
In the last row, Interiors show a positive correlation with the parking facility factor (.356) as already
discussed in the paragraph 6.
60
CHAPTER 5 : FINDINGS
1. 85.83% of the respondents are permanent residents of Delhi NCR.
2. 90.83% of the respondents have bought properties in Delhi Ncr region.
3. 51.67% of the respondents have been living in delhi Ncr from 10-25 years, 15% from
5- 10 years and 15% from less than 5 years and 18.33% from more than 25 years.
4. Respondents have given no.1 rank to Gurgaon in terms of preference for buying
property, because of the recent developments and high growth rate. Noida have got
the second rank as its also reaching to the level of gurgaon , more and more offices
are now being operated in noida and big realtors are now eyeing Noida to invest in .
5. 65.83% of the respondents have bought a residential property in the Delhi NCR
region for the purpose of Investment.
6. 27.5% of the respondents prefer buying Multi-storey apartments, 22.5% prefer to buy
Builder floors, 17.5% of the respondents prefer buying Independent house and rest
32.5% composed of the others.
7. 59.17% of the respondents have said that they would change their preference made in
the last question if the property is being bought for Investment purpose.
8. In case of buying property for Investment purpose, 28.14% people would prefer
buying Residential plot, 22.5% would prefer Independent house ,25.3% would prefer
Multi-storey apartments and rest would go for other type of properties.
9. Residential plot jumped from 10% to 27.5% in case of investment purpose,
independent house moved from 17.5% to 22.5%, multi-storey fell from 27% to
25.2%.
10. 47.50% of respondents prefer the construction linked plan, 33.33% prefer flexi plan
and 19.17% prefer the Down payment plan.
11. 86.66% of the respondents have heard of Developers such as DLF,Unitech,Amrapali
etc.
12. 57.5% Respondents are ready to pay an additional cost to buy a property from a
renowned real estate company such as DLF, Unitech etc.
61
13. Dlf has got the maximum preference for buying a property from with 35% i.e more
than 1/3
rd
of the sample, followed by unitech with 19.17% and Supertech with 15%
preference.
14. 40% of the respondents choose market reliability while making a buying decision,
19.17% would choose financial stability, customer service 14.17% and earlier
completed projects 12.5%.
15. Price is the most important factor while making a buying decision, Interiors is also
somewhat important.
16. Property sites(79) are the most preferred source of information , very closely followed
by developer‟s site(78) and newspaper (74) .
17. 29.17% of the total respondents are from 10-25 lakhs annual income level group ,
closely followed by 25-50 lakhs income group.
18. Price is having a negative correlation (.010) with privacy (-.234), It also shows a
positive correlation between price and location (.597) also has a positive correlation
with neighborhood (.313) and a negative correlation with the interiors (-.256).
19. Privacy shows a very strong correlation with neighborhood (-.452), location shows a
positive correlation with the neighborhood (.338), a negative correlation is found in
relation with the area or size of the property (-.318).
20. Neighborhood also has a strong negative correlation with the parking facility (-.546).
Area/size of the property shows a positive correlation with the proximity to workplace
(.228) , Parking facility shows a positive correlation with the interiors
62
CHAPTER 6: CONCLUSION AND RECOMMENDATIONS

6.1Conclusions
1. There is a significant increase in people coming from different states and buying
residential properties in Delhi and NCR region as these areas are now the hub of
Multinational corps.
2. Gurgaon is the most preferred locality in NCR region in terms of preference of the
customers mainly because of high growth rate and more and more companies are
opening their offices in gurgaon. People tend to prefer gurgaon as its close to their
workplace and there is a good availability of nearby markets, malls, cinema halls ,
5 star Hotels which make gurgaon a perfect choice for property buyers.
Noida being the second most preferred locality for the customers in terms of
buying a house is also climbing the ladder very quickly, the growth rate is rising
and most of the big realtors are eyeing Noida as a profitable area to invest in.
3. There is a significant increase in the people who buy properties for the purpose of
Investment as as Real estate is considered a good option to invest in and it gives
good returns in terms of capital appreciation and can also serve the purpose of a
Regular Income by Renting and leasing.
4. Multi-storey Apartments is the most preferred type of property, closely followed
by builder floors. Families these days have a desire to buy a floor so that the
whole family could live together on the same floor as it‟s hard to move up and
down in case of properties with multiple floors. Also, Independent houses and
villas are comparably pricier as compared to multi-storey apartments and builder
floors which are more affordable.
5. More than half of the people change their preference of property type when the
buying decision is for the purpose of Investment. For investment purpose, people
tend to prefer residential plots and Multi storey apartments.
6. Construction linked payment plan is the most favourite among the customers
because then the customer is having time to arrange funds in between the
instalment dates. Flexi plan is the second most preferred payment plan followed
by the down payment plan where the whole payment is usually made within 2-3
months.
63
7. Nowadays, People are more aware of Brands such as DLF, Unitech, Amrapali
group etc in the Real Estate Industry. Customers are also ready to pay an
additional cost to buy from such Renowned real estate developers.
8. DLF is the most preferred real estate company because of its trust and long
existence in the Industry. Unitech is second and is closely competing with the
DLF. Supertech is third in the list, followed by BPTP , Emaar MGF,Ansal API
and Amrapali.
9. Market Reliability of a Company is the most preferred factor that the customers
look for before buying a property from it . Financial stability is the second in the
list, followed by customer service and earlier completed projects.
10. Price is the most important factor in making the buying decision because in India,
customers are very price sensitive and a small variation in price can lead to great
changes in demand. Location is also an important factor.
11. As customers are now more educated and have access to the internet, the property
sites such as Makaan.com, 99acres.com or magicbricks.com are the most used
source to gather information regarding the real estate in Delhi Ncr. The second
source of information is the Developer‟s site, followed by newspapers, radio,
television etc.
12. There exists a significant relationship between the income level of the customer
and the payment plan preferred. Clearly, with the help of the survey we can
conclude that the customers having an annual income of more than 50 lacs prefer
the Down payment plan as they are having sufficient funds to purchase the
property in one go, whereas customers in the less than 10 lacs income level prefer
the construction linked plan as the payment is made in instalments.
13. People who prefer the Down payment plan are likely not to pay additional cost to
buy a property from a renowned real estate company (DLF, Unitech etc) and same
is the case with flexi plan but people preferring the construction linked plan are
likely to go for a brand and ready to pay any additional cost for buying the
property.
64
14. There is also a significant relationship between the Source of information
gathering and the annual Income on the customer. Customers who prefer to gather
information through television are from less than 10 lacs annual income group and
customers who take help of property sites are from the 10-25 lacs annual income
group.
15. People who are in less than 10 lacs annual income level prefer buying multi-storey
apartments, people in 25-50 lacs income group prefer buying other type of
properties such as serviced apartments and studio apartments and people with
more than 50 lacs annual income prefer buying villas and multi-storey apartments.
16. Price is having a negative correlation with privacy that means a person rating
price as most important factor is likely to rate privacy as least important or
somewhat important. It also shows a positive correlation between price and
location that means a person rating price as most important factor would most
probably rate location as most important as well, price also has a positive
correlation with neighbourhood and a negative correlation with the interiors .
17. The privacy factor has a negative correlation with neighbourhood that means a
person who considers privacy as the most important factor while making a buying
decision for a property would consider neighborhood as the least important factor.
18. Location shows a positive correlation with the neighbourhood, a negative
correlation is found in relation with the area or size of the property that means that
a person preferring a good location would be happy to forgo the big size of the
property.
19. Neighbourhood has a strong negative correlation with the parking facility that
means a person who prefers neighborhood of a property is likely to forgo the
parking facility.
20. Area/size of the property is having a positive correlation with the proximity to workplace.
Parking Facility shows a positive correlation with the interiors. A person who considers
parking facility as the most important fact is likely to consider the interiors of the house
as the most important factor as well.
65
6.2 Recommendations
1. As there is a significant increase in people coming from different states and buying
residential properties in Delhi and NCR region as these areas are now the hub of
Multinational corps. The real estate developers should look to focus on the residential
areas near the business parks and corporate offices as people do tend to prefer
locations which are in close proximity to their workplace.
2. Gurgaon is the most preferred locality in NCR region in terms of preference of the
customers mainly because of high growth rate and more and more companies are
opening their offices in Gurgaon. The realtors should mainly focus upon investing in
Gurgaon and Noida more as there is a scope for a high property demand.
3. There is a significant increase in the people who buy properties for the purpose of
Investment as as Real estate is considered a good option to invest in and it gives good
returns in terms of capital appreciation and can also serve the purpose of a
Regular Income by Renting and leasing.
4. Multi-storey Apartments is the most preferred type of property, closely followed by
builder floors. Families these days have a desire to buy a floor so that the whole
family could live together on the same floor as it‟s hard to move up and down in case
of properties with multiple floors. The real estate developers should mainly focus
upon offering multi-storey apartments and builder floors more than the other types of
properties as there is a rising demand for apartments and builder floors.
5. Nowadays, People are more aware of Brands such as DLF, Unitech, Amrapali group
etc in the Real Estate Industry. Customers are also ready to pay an additional cost to
buy from such Renowned real estate developers. So, the developers can take the
advantage of it , by charging an additional cost for their properties and giving better
services and security.
66
6. DLF is the most preferred real estate company because of its trust and long existence
in the Industry. Unitech is second and is closely competing with the DLF. Supertech
is third in the list, followed by BPTP , Emaar MGF,Ansal API and Amrapali. Dlf
should look to maintain its domination in the real estate industry and the other
developers should look to replace Dlf from the top spot.
7. Market Reliability of a Company is the most preferred factor that the customers look
for before buying a property from it. Financial stability is the second in the list,
followed by customer service and earlier completed projects. So, the real estate
companies should focus on creating a good brand image in the market and should try
to reflect as a reliable unit. Companies should also try to maintain their financial
stability.
8. Price is the most important factor in making the buying decision because in India,
customers are very price sensitive and a small variation in price can lead to great
changes in demand. Location is also an important factor.
9. As customers are now more educated and have access to the internet, the property
sites such as Makaan.com, 99acres.com or magicbricks.com are the most used source
to gather information regarding the real estate in Delhi Ncr. The second source of
information is the Developer‟s site, followed by newspapers, radio, television etc. The
companies in the real estate industry should maintain good deals with these property
sites by offering a good commission, and using different means of advertising on
those property sites.
10. Neighbourhood has a strong negative correlation with the parking facility that means
a person who prefers neighbourhood of a property is likely to forgo the parking
facility. So, the realtors should focus more on offering a good neighbourhood rather
than putting high costs for providing the parking facilities.
67
Bibliography
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Haddad, M. ( 2011). Factors Affecting Buying Behavior of an Apartment an Empirical Investigation
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Amman, Jordan . Research Journal of Applied Sciences, Engineering and Technology 3(3): 234-239,
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Maria.carolina. (2011). The Built & Human Environment Review, Volume 4, Special Issue 1, 2011 .
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BOSNIA-HERZEGOVINA . The Ninth International Conference:“Challenges of Europe: Growth and
Competitivness – Reversing the Trends” .
Variawa, E. (2010). Buying behaviour and decision-making criteria of Base of the Pyramid
consumers:
. Gordon Institute of Business Science.
Xu, F. (2001). Chinese and Non-Chinese Real Estate Marketing and Mortgage Strategies in the
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69
Annexure
Questionnaire
Q1 . Are you a permanent resident of Delhi NCR region?
a) Yes b) No
Q2 . Have you ever bought any property in Delhi NCR?
a) Yes b) No
Q3 . For how many years have you been living here?
a) <5 years b) 5-10 Years c) 10-25 years d) >25 years
Q4. Please rank these localities of NCR in order of preference for buying a property:-
a) Faridabad
b) Noida
c) Gurgaon
d) Greater Noida
e) Ghaziabad
Is there any specific reason for giving that locality the highest ranking?
a) Yes b) No
If yes, Please mention it here __________________________________________________.
Q5 . Have you ever bought a residential property in the Delhi NCR region for the purpose of Investment?
a) Yes b) No
Q6. What type of residential property do you prefer?
a) Residential Plot
b) Independent house
c) Multi-storey Apartment
d) Builder Floor
e) Villa
f) Other
70
Q7 . Will your preference in the last question change if the property is being bought for investment purpose?
a) Yes b) No
If yes, what will be your preference in that case __________________________________________________.
Q8 . For buying a property, what payment plan do you prefer ?
a) Down Payment
b) Flexi plan
c) Construction linked plan
Q9 . Have you ever heard of Big real estate Developers such as DLF, Unitech, Amrapali etc. ?
a) Yes b) No
Q10 . Would you like to buy a property from a renowned real estate company (DLF, unitech etc) at an
additional cost , if a similar property is available at a lesser price?
a) Yes b) No
Q11 . Please tick the Real estate company‟s name you would prefer buying a Property from.
a) DLF
b) Unitech
c) Supertech
d) Amrapali
e) BPTP
f) Emaar MGF
g) Ansal API
71
Q 12 . Please tick the options that you take into consideration while choosing a real estate company to buy a
property from :-
a) Market Reliability
b) Financial Stability
c) Word of mouth
d) Customer Service
e) Earlier completed projects
f) If any other,
Please specify____________________________________
Q13 . Please rate the following key factors on a scale of 1 to 5 that you take into consideration while making a
buying decision for a residential property. (1=Least Important , 5 = Most important)
a) Price _____
b) Privacy _____
c) Location _____
d) Neighbourhood _____
e) Area/size of the property _____
f) Parking facility _____
g) Proximity to workplace _____
h) Interiors _____
Q14 . Is there any special feature that hasn‟t been mentioned in the last question and is important to you?
----------------------------------------------------------------------------------
Q15 . Please mark the options from which you take help while making a buying decision?
a) Newspapers
b) Television
c) Radio
d) Property sites(Makaan.com,99 acres.com)
e) Developer‟s site
f) People‟s references
g) Any other
72
Q16 . What is your Annual Income?
a) <10 lacs b) 10-25 lacs c) 25-50 lacs d) >50 lacs
Personal Details :
Name __________________________________________________________________________
Age _______ Sex _________
Occupation_____________________________________
73

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DISSERTATION

AMITY UNIVERSITY UTTAR PRADESH

Chapter 2: Literature Review

CHAPTER 3 : Research Methodology

CHAPTER 4: DATA ANALYSIS AND INTERPRETATION

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and 5th Ranking, closely followed by Greater

4.13 Factors Ratings

Income Level of the Respondent.

Table No. 4.18c)

Table No. 4.19b)

CHAPTER 6: CONCLUSION AND RECOMMENDATIONS

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