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The project report is a part of Masters of Business Administration Studies, Landran. The MBA
program provides Summer Internship Projects under the guidance of industries. The projects are
assigned and completed as per the industry requirements.
The organization in which I have done Summer Internship is Rupee Makers & Nestkeys
Infratech Pvt. Ltd. The Project title is “Customer sentiments & attitude towards affordable
housing”. The basic purpose of this report is to know the market opinion for new housing
projects designed for middle class segments and to know about the potential competitors present
in the market. Customer expectations and queries has resolved about affordable housing projects.
My internship was started with a brief introduction of the company, their origin, vision, mission,
goals, and tie ups with other firm like Future Generali insurance company. After this I get the
brief introduction of the Real Estate, started with cold callings, after setting a bench mark in cold
calling I got the access to the leads and meeting with the clients takes place.
I have conducted the survey through questionnaire to know the customer sentiments towards
affordable housing and the target respondents were the customers who were in search of the
properties in Delhi-NCR region with a prime focus on Gurgaon region.
ACKNOWLEDGEMENT
This project learning has been a great learning experience for me and I would like to express my
sincere gratitude to all the people who guide me through the project and without the valuable
guidance and suggestions of these people this project would not have been completely
successful.
It is my radiant sentiment to place on record my best regards, deepest sense of gratitude to Mr.
Amit Arora (Director-Business Strategy), Mr. Abhinav Agarwal (Director-Franchisee
Development) Mr. Kshitij Mehta (Director-Direct sales Support team) for their careful and
precious guidance which were extremely valuable for my study both theoretical and practically.
I express my deepest thanks to Chhavi Mittal (GM-Sales and Marketing), Piyush Tandon (AGM-
Sales and Marketing), Saurabh Rawal (AGM-Sales and Marketing) for taking part in useful
decision and giving necessary advices, guidance and arranged all facilities to make life easier. I
choose this moment to acknowledge their contribution gratefully.
I would also like to thank my industry guide Mr. Anuj Chiller (VP- sales & Disribution) and Mr.
Lovedeep Singh (Prof. CBSA, Landran) for their continuous support and guidance.
I would like to thank all the respondents whom I interacted with during my project & all the
clients for their cooperation without which I may not have been able to complete it successfully.
Shikha Bhatia
MBA (2017-2019)
CBSA-1723705
Table of Content
1 Executive Summary 8
3 Company Profile 15
3.1 History 16
3.2 SWOT 18
3.3 PESTLE 19
3.5 Products 21
3.6 Objectives 25
4 Literature Review 26
5 Research Methodology 27
8 Recommendations 42
Annexure 44
CHAPTER 1
Executive Summary
Nest keys is a Gurugram based real estate company that will offer benchmark residential units.
Balance safety, cutting edge features, and a positive atmosphere for all customers. These will be
provided with unmatched levels of customer service and attention.
The project which I have been assigned under my SIP was “Customer Sentiment and Attitude
towards Affordable Housing “ under this initially I have done cold calling to all those potential
buyers who are in search of property the data for cold calling was provided to me by the
company itself. I have done customer interaction and briefed them about the housing project in
NCR region.
The Data gathered for the research work is done through convenient sampling and the I have
applied Descriptive research the primary data for the research work is gathered through the
Questionnaire framed and Secondary data is gathered through the company website.
The outcome of the research was that customers are aware about Affordable Housing and the
maximum number of respondents are willing to invest in Residential properties in the Gurugram
region. It is also been found from the research that maximum number of respondents are willing
to invest in ready to move in housing projects.
CHAPTER 2
Real Estate Industry is rapidly growing at a fast pace in India, the drastic change in population is
demanding for more residential apartments, multi storied buildings thus more and more
construction is taking place which in return benefits the Real estate industry, it also plays a
critical role in the development of India’s economy. It is the second largest employer after
agriculture.
High Growth in services as well as manufacturing sector has also resulted in high demand for
commercial and industrial real estate.
Real estate industry is divided into four sub-sectors: Housing, Retail, Hospitality and
Commercial. The housing sub-sector contributes five-six per cent to the country's gross domestic
product (GDP). Meanwhile retail, hospitality and commercial real estate are also growing
significantly.
Growth in the Indian economy has stimulated demand for land and developed real estate across
industries. Demand for residential, commercial and retail real estate is rising throughout India,
accompanied by increased demand for hotel accommodation and improved infrastructure.
The Indian real estate sector plays a significant role in the country's economy. The real estate
sector is second only to agriculture in terms of employment generation and contributes heavily
towards the gross domestic product (GDP). Almost five per cent of the country's GDP is
contributed to by the housing sector. In the next five years this contribution to the GDP is
expected to rise to 6 per cent.
Almost 80 per cent of real estate developed in India is residential space the rest comprises of
offices, shopping malls, hotels and hospitals.
Historical Evaluation
The Real Estate Scenario in India is witnessing a huge growth as most of the metropolitan cities
are escalating the property map with more and more projects. According to reports, an estimated
size of the Indian real estate sector is $ 12 billion of country’s 600 billion economy. The real
estate sector is witnessing a stable and further sustainable boom and the market is expected to
reach $45 billion in next five years. This boom in the real estate market comprises of basically
three sectors, i.e. residential, commercial and retail. This boom in real estate market can be
apparently observed in Delhi, Gurugram and other major cities of the country.
As the demand is getting higher, more and more players are entering the industry with a wide
range of project to offer. The market trends in Indian real estate sector are very healthy and are
indicating towards a positive trend for the long-term investors. Other factors which are likely to
contribute to long term demand for real estate in India are rapid population growth, rising
disposable incomes for individuals and easy credit lending facilities.
To conclude Indian real estate sector promises to be a lucrative destination for foreign investors
into the country. The Indian realty sector, if channelized properly, can be helping the growth of
several other sectors in India through its backward and forward linkages.
Growth Rate
Indian real estate industry has been expanding at an exponential rate. Favorable demographics
conditions improvement in basic infrastructure rising purchasing power availability of cheap
finance nuclear families professionalism in real estate and reforms initiated by the government
are some of the major drivers of this spectacular growth. According to industry estimates the real
estate industry in India has been growing at 33 per cent CAGR (compound annual growth rate)
and could be a $50 billion industry in the next four years. The upturn straddles all the major
sectors of the industry such as commercial residential retail industrial hospitality and Healthcare.
Players in The Industry
Ansals
• By far most dominant activity of Ansals has been Real Estate Promotion & Development
• company has several landmark high-rise commercial building like Statesman House,
Ambadeep, Antriksh Bhawan, Tolstoy House, Indra Prakash, Navrang House and Ansal
Bhawan
• Ansals have also completed several residential buildings like Gauri Sadan, Upasana at
Hailey Road & Dhawan Deep at Jantar Mantar road, all in the heart of New Delhi at
Connaught Place.
• There is the most prestigious “Ansal Plaza” Shopping Mall associated with its work
• Also it has made elite townships, Sushant Lok and Palam Vihar in Gurgaon.
• Their profit declined by 81.24% in the last financial year over the last year.
• 569 is the all time high of this company in 2006 and now trading at just 10% of its all
time high.
Parsavnath Developers
• It was incorporated on July 24, 1990 under the Companies Act, 1956 as Parsvnath
Developers Limited.
• With more than two decades of experience in its repertoire, the group has already
stamped its presence already in seventeen states and going Pan – India.
• It has made various developments in areas like GURUGRAM, Noida, South Delhi.
Unitech Group
• Carved a niche for itself in India with its sprawling properties and projects in Bangalore,
Gurgaon, Noida, Greater Noida.
• Radisson Hotel, New Delhi has won accolades for its wonderful infrastructure,
astounding interiors, ideal location and extra ordinary facilities for the distinguished
customers.
• Rohini Amusement Park is also a creation of Unitech Group. The commercial complexes
like Global Business Park, Signature Towers, Unitech Business Park and Unitech Trade
Center and the launch of Millennium Plaza &Info center in Gurgaon have made Unitech
Builder earn a good reputation in the industry.
DLF Group
Founded in 1946
Tied up with Hilton Group to build whopping 100 hotels in India over the next few years.
In current expansion plans, DLF has over 425 million sq. ft. of development across its
businesses, including developed, on-going and planned projects Spread over 32 cities,
mostly in metros and key urban areas across India
Key Challenges For The Industry
In order to survive in this environment, companies must consider the market trends that will
likely shape the industry over the next few years. This will help real estate companies to
understand the challenges they will encounter and to turn them into opportunities for process
improvement, enhanced flexibility and, ultimately, greater profitability.
Market trends for the real estate industry can be summarized by five fundamental themes:
• Overvaluation of Property
• Highly Fragmented
• Lack of Transparency.
Dlf
Unitech
Parsarvnath
Impact of Recession on Real Estate
KEY ISSUES
Fig 1.1
Company Profile
Nest keys
Nurtured with an idea to shake up the unorganized property market to a Need based Property
Solutions Specialist with team of business associates in this ever changing dynamic, non
regulated property space and to help them manage their customer’s investments grow with
right knowledge and skills.
Company’s philosophy is based on nurturing the right talent with imparting them the adequate
knowledge to deliver the right investment /property solutions to customer. The core team
having 40 plus years of professional experience in understanding the Indian environment and
setting up new distribution channel and mentoring the associates with innovative investment
solutions, technology, operations and customer service management assistance to entrepreneurs
entering into property space and helping them managing their clients in a structured approach.
Company has its various channel partners through which it runs its operations. The real estate
companies such as 99acres.com, makaan.com, housing.com, Indiapropert.com,
propertywala.com, propertytiger.com, commonfloor.com, magicbricks.com, etc. are
authorized channel partners with the company for running its operations.
3. We get the leads of clients with name and contact information with e-mail address from
these sit.
4. Our task involves calling to these clients, ask their queries and provide them better
solution according to their need.
5. Interested Clients come to our office for further discussions and site visiting.
6. After site visit if they get satisfied gives booking amount to confirm their units and get
the allotment letter.
7. If unit gets confirmed the whole process is known as closure of deal (selling of units).
And if they want to take loans we provide the documents of the whole project which
helps them to take loan from the leading banks and he can give his further payments of
the project in which he has invested.
History of Company
Nestkeys Infratech Pvt Ltd was established in 2014 based in Gurgaon Haryana. with its branch
office at modal town Delhi. The core team having 40 plus years of professional experience in
understanding the Indian environment and setting up new distribution channel and mentoring the
associates with innovative investment solutions, technology, operations and customer service
management assistance to entrepreneurs entering into property space and helping them managing
their clients in a structured approach.
NestKeys is an all-in-one real estate site where your search for all property needs ends and you
can find latest information about real estate markets and trends to help you figure out exactly
what, where, and when to buy, sell, or rent. With our nationwide presence you can also find a
professional real estate agent, view prices of recently sold homes, and see home values in your
nearby locations. Get advice and opinions from your local area real estate agents, brokers, and
other local experts exclusively on Nestkeys only.
Core Values
NESTKEYS - hold our associates, customers, employees, as well as our community in the
highest regard, where we incorporate both the needs of our company, as well as the needs of our
ever-changing world into our culture. Our core values are the backbone to our company which
resonate with our vision.
People
We must be caring, show respect, compassion and humanity for our colleagues, associates
and customers around the world, and always work for the benefit of the communities we
serve.
Integrity
Conducting our operations with integrity and with the respect for the each people, business
associate whom we touch in different juncture of our business journey.
Customer Delight
We are committed to foster customer centric culture where our processes, services and
innovations are aligned around customer/franchisee/business associate expectations.
Excellence
We must constantly strive to achieve the highest possible standards in our execution and in
the quality of the services we provide at affordable cost and need based solutions.
Trust
We as team believe that the trust is the foundation of our relationship with our associates,
franchisee, customer and employees and we cultivate it every day by being accountable of
every single property transaction we offer.
SWOT
Analysis
WEAKNESS
STRENGTH
Low customer retention
Technological skills
unorganised market
Distribution Channel
Product Production Quality To convince the buyer about delivery of
th under construction projects.
Management in terms of services
Existing Customer base.
SWOT
ANALYSIS
THREATS
OPPORTUNITIES
Changing customer base
Changing customer taste
New Entrants
New distribution channels
Technological Advances
Change in population age
Legal Modifications
Changes in Government policies
High level of risk involved
PESTLE Analysis
NEW ENTRANTS
Technology
Legal authorization
Profitable Market
SUPPLIERS
Builders BUYERS
Brokers RIVALRY Strong
Land sellers Unorganised
No. of Competitors
Capital Providers Industry growth market
SUBSTITUTES
Competetive product
by other developer
Different projects
in the market
Products
AFFORDABLE HOUSING
Affordable Housing Policy, Haryana 2013, Approved by Government on 6th Aug. 2013
Affordable Housing has come up with an increasing demand for consumers in prospect to give
them an opportunity to own a house at a very economical cost as well as to give them an
opportunity to take the pleasure of property appreciation in comparison with the normal housing
apartments. Three main reasons for you to invest in affordable housing apartments without any
delay in your thought to this investment:
Pre-Defined Sizes
Pre-Defined Rates
This new thought of bringing PPP Model (Public-Private Partnership) keeps a constraint on the
builder to deliver the project on time else builder has to face a huge penalty of his “License
Cancellation.”
HUDA Houses are better proposition than DDA’s
Under Haryana government’s scheme the flats can be transferred after one year of
possession.
Charge on carpet area will help buyers help around 30-35% of the prices over other
private or DDA units.
Huda Scheme suitable for industrial employees and buyers working out-skirts of Sonipat
or Panipat.
Allotment is provided by only Draw and Booking is on First Come First Serve basis.
Completion time for these projects is 4 years from the date of approval of Building Plans
and Environment Clearance Certificate whichever is later.
Government took the initiative to give the benefit to Middle Class and Lower Middle Class
families so these projects are in affordable rates. But there are so many factors which makes it
affordable.
Builder purchase land on normal rates but get Benefit on below things: o
License Fees and Land Conversation Fees is Waived Off.
o 5% of Flats are reserved for Builder for his Friends & Relatives.
Increased FAR provided by Government for these projects up to 20%. Approved FAR is
225.
Increased Density provided by Government for these projects as minimum is 850 PPA
and maximum is 900 PPA. Ratio set by Government is 5 Person per Flat.
Builder can utilize 4% of the area as Commercial as per his desire Rates. Approved FAR
for commercial is 175.
All projects are Maintenance Free for 5 Years after possession. Builder will take care for
the maintenance of the project.
All rates are on Carpet Area. Client saves up to 30% to 35% on these projects.
Free Parking for Scooter which is half of the size of car parking.
There are No Other Charges in these projects except Service Tax @ 8%.
Balcony will be on reasonable rates of Rs. 500 per Square Feet. But not more than 100
Square Feet.
Fill the form and submit it with 5% of Flat Price as DD, PO or Cheque at Company or
As per Policy 95% of the total number of Flats will be allotted by Lucky Draw and 5% of
the total number of Flats will be Reserved for Builders for their Friends & Relatives.
After examination of Forms, Projects and other Important facts, Senior Town Planner
(HUDA) will fix the date of draw.
Draw will happen in the presence of Huda Officials, Deputy Commissioner or
Representative and Builder’s Representative in Public.
As per Policy Builder have the right to Reserve or Give 5% of the total number of Flats to his
Friends or Relatives. Builder sell these Flats on Premium to the people who are Interested for the
project and booking of flats. Benefits of confirm bookings are as below:
o Rates are much Less than other General Projects near about. Differences in rates are from
40% to 60% on Super Area and if calculated on Carpet Area it can be much more.
o Builder get 10 to 12 times more applications for bookings and allotment is on Lucky
Draw publically so it Assure allotment of Flat.
What are the Terms for Builder for Affordable Housing set by Government?
After the possession Builder will get 90% of Security Deposit refund as per Occupancy
Certificate issued by Govt. floor wise.
10% of the Security Deposit will be deposited to the HUDA for next 5 Years as
Maintenance Security.
What are the Terms for Applicant for Affordable Housing set by Government?
One person can apply only for One Flat in One Project.
Can apply in more than one Affordable Housing but in case get allotted in more than one,
have to surrender other flats.
As per Policy there must be No Property in the name of Applicant or on his/her Spouse or
Children name in Haryana.
Cannot Sale Flat before 1 Year from the date of Possession. Not even on GPA.
Yes All Leading Nationalize Banks provide loan on all Affordable Housing Projects up to 90%.
Objective
Literature Review
The Real Estate Scenario in India is witnessing a huge growth as most of the metropolitan cities
are escalating the property map with more and more projects. According to reports, an estimated
size of the Indian real estate sector is $ 12 billion of country’s 600 billion economy. the real
estate sector is witnessing a stable and further sustainable boom and the market is expected to
reach $45 billion in next five years. This boom in the real estate market comprises of basically
three sectors, i.e residential, commercial and retail. This boom in real estate market can be
apparently observed in Delhi, Greater Noida and other major cities of the country .
Greco (1991), Marsh (1998), and Schumell (1996) that the promotional strategies has impact on
customer’s influence to invest in real estate sector, it’s important to give attention to the change
of consumption idea and the use of cultural marketing in real estate enterprises. Based on the
research first is to create architectural style, to increase the value of the community and reflect
the owner quality; Secondly ,it should build a good community atmosphere.
Wang (1994) according to this study builders & agents must strengthen brand creation, brand
protection, and create belongs to own brand advantage for obtaining good marketing effect. The
establishment of the brand have to be clear from the following points, first of all, the
understanding of the concept of brand, Enterprises should establish its image in the consumers'
mind, take it from other similar products differences; Second, we must establish harmonious
public relations, and constantly improve the popularity of products in the society; Third, we need
to take the good faith for this, on the premise of ensuring the quality of the real estate, property,
and the authenticity of ads, not making false promises to consumer fraud.
CHAPTER 5
Research Methodology
Research Design “A survey has been conducted to find out the customer response and
their attitude towards affordable housing and after getting the responses, I have done the
detailed analysis of characteristic features of the responses gathered and I have made an
attempt to explore different horizons of my research report topic”.
Sample Design:
Sample Unit :- Potential Buyers
Sample Size :- 50
Sampling Technique :- Convenient Sampling
Sampling Area :- Gurugram region
Data Collection:
Sources of Data
1. Primary Data:
2. Secondary Data
Secondary data is gathered through the company website and the leads provided by
the company
CHAPTER 6
Data Analysis
Pie Chart 1
In the research conducted it has been found that out of total respondents 82 % were male and the
In the research the maximum number of respondent belongs to the age group between 25-35
By this analysis we get to know that maximum people are interested to invest their money in the
real estate sector which constitutes around 64% of the total respondents.
Pie Chart 4:
By this analysis we get to know that about 59.2% people are interested in the residential property
and about 20.4% people are equally interested in the commercial property and vacant land.
Pie Chart 5:
By this analysis we get to know that most of the respondent’s monthly income lies between 60K
to 80K which means that they can opt for the investment.
Pie Chart 6:
Through the study conducted we get to know that respondents are giving equal weightage to
By this analysis we get to know that in Gurgaon maximum people want the Dwarka Expressway
as their preferred location followed by Golf course road.
Pie Chart 9:
By this analysis we get to know that about 60% people are aware of Affordable housing in
Gurugram.
Pie Chart 10:
As per research it was found that the budget of respondents for buying a property lies between
15 to 35 lakhs.
Pie Chart 11:
By this analysis we get to know that people believes in 99 acres and then Nestkeys for better
suggestion in housing.
Pie Chart 12:
As per study conducted maximum number of respondents said Cost, Location, Facilities
provided & connectivity are extremely important factors to be considered before investing in a
property.
Pie Chart 13:
Through the study we can analyze that 32.7% of respondents are willing to invest in ready to
move property followed by same percentage of respondents who can wait for more than a year.
CHAPTER 7
Before buying any product people look for online portals about its features and cost to
make a decision whether to buy that property or not.
Nestkeys.com has a build a good reputation with those who have experienced its service.
The study states that maximum number of respondents are willing to invest in
residential property.
Most of the respondents were aware about the affordable housing but it is required to
promote the concept of affordable housing.
Cost, location, connectivity and other support services were the key factors which play
a important role in buying a property.
CHAPTER 8
Recommendations
After doing the research it was found that 99acres is one of the main competitors thus Nest
keys should focus on providing more benefits to their existing as well new client.
Nestkeys should focus on small buyers as well (mainly who are new and financially not
strong)
Nestkeys have got a good brand image as it comes under Times of India, so the company
must put more emphasis on promoting their portal in local newspapers and print media.
Builders or promoters who are satisfied with the service of Nestkeys should take some
reference from them and convert them into their clients.
The company should Campaign in the outskirts of Gurugram and provide buyers about how
they can be benefited through affordable housing.
Nestkeys should maintain its goodwill by providing its clients with offers and after sale
services which can help them bring in more clients.
BIBLIOGRAPHY & GLOSSARY
Yang Pao, Research On Real Estate Enterprise Marketing Strategy Innovation, Nanchang:
Nanchang University, 2010.
You-Cai Yang, Wl Jh Real Estate Project Marketing Planning Scheme, Changchun, China:
Jilin University, 2013.
Guo-Jun Liu, A Company's Marketing Strategy Of Real Estate Project Research, Changsha,
China: Hunan Normal University, 2014.
Websites
http://www.ebook3000.com/
http://www.wepapers.com/
http://www.experiment-resources.com/
http://www.saching.com/
http://www.99acres.com/
http://www.magicbricks.com
http://www.valueresearchonline.com
ANNEXURE
Name
Contact No.
Gender :
Female
Male
Age
25-35
35-45
45-55
55 & Above
Yes
Maybe
10. Rate the following factors on the basis of your consideration before investing in real estate
between the scale of 1 to 5? ( 1= Very Important and 5= Least Important)
Cost
Location
Facilities Provided
Connectivity
Financial Schemes
11. When you are expecting to get the possession of the property?
Ready to move
Near to possession
Within a year
More than a Year.