STUDY ON

Title: Real estate Industry and strategies for

managing in Hypercompetitive Environment

Submitted by

KONDA AKHIL

Registration No:

15010141116

Under the Guidance of: Prof. Mrinmoy Bhattacharjee

In partial fulfilment of the Course- Industry Internship

Programme- IIP in Semester VI of the Bachelor of Business
Administration (2015-18)

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 Bachelor of Business Administration

Industry Internship Programme (IIP)

Declaration

This is to declare that the Report titled “Understanding Real Estate

Industry and strategies for Managing in Hypercompetitive
Environment” has been made for the partial fulfilment of the Course:
Industry Internship Programme (IIP) in Semester VI by me at GOABRIGO
HOSPITALITIES under the guidance of Prof. Mrinmoy Bhattacharjee.

I confirm that this Report truly represents my work undertaken as a part of

my Industry Internship Programme (IIP). This work is not a replication of
work done previously by any other person. I also confirm that the contents
of the report and the views contained therein have been discussed and
declared with the faculty guide.

Signature of the Student:

Name of the Student (in Capital Letters) :

Registration No. :

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 Bachelor of Business Administration

Certificate
This is to certify that Mr. KONDA AKHIL Regn no. 15010141116 has been
completed the report titled “Understanding Real Estate Industry and
strategies for Managing in Hypercompetitive Environment” under my
guidance for the partial fulfilment of the course: Industry Internship
Programme (IIP) in Semester VI of the Bachelor of Business Administration.

Signature of Faculty Guide:

Name of the Faculty Guide:

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 TABLE OF CONTENTS

S.no Topic Pg.no

1 Executive Summary 5-6

2 Introduction 6-37
2.1 Industry Overview
2.2 Company Overview
3 Project Profile 37-38
3.1 Objectives of the Study
3.2 Methodology
4 Observation & Analysis 39-50

5 Findings 50-51

6 Recommendations 51

7 Conclusion 52

8 Annexure 53-67

9 References 68

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 1. Executive Summary:

I Konda Akhil, BBA, Alliance University have done my internship from

GoAbrigo Hospitalities, a start up which provides shared accommodation to
bachelors in gated communities in Whitefield. I had worked in cross-
functional domains and have hands-on experience on each domain of a
start up. The main task is to generate leads through different portals and
generate traffic to the organisation by using some digital marketing tools. I
was exposed to each and every domain of the organisation, which helped
me to understand the whole business model. I was not restricted to work
for only one task, there were different tasks assigned to me in the whole
tenure.

Since it is a start up, the organisation was in need of a whole set up as the
professional company. The basic idea is to have an app in which the people
can see the whole inventory of the organisation, adding filters which
satisfies the requirements of the clients and convert the static website to a
dynamic website by which people can pay the token amount online and fix
their bed, the owners can directly see the policies and can fix an
appointment directly. My task is to talk to different vendors who provide
the solution for the app and to make dynamic website, I was also assigned
to talk to different organisations that provide CRM tools, IVR solutions
which suits the requirements of our organisation and take the quotation
from them.

When the organisation wanted to create the brand awareness programmes

among some gated societies around whitefield which was a part of their
offline marketing, the organisation was in need of the pamphlets, canopy,
sunpact boards, flexi etc. I was assigned to talk to the vendors who provide
all the materials that are required by the organisation and take the
quotation from them. I have also designed the layout of canopy and a
pamphlet which was distributed to a lot of people as a branding activity.

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In my tenure I was also assigned to do inspections of the flat in terms of
knowing the working conditions of the furniture, whether it matches the
requirements of GoAbrigo model.

Other than shared accommodation, the organisation also deals in property

management, which includes buy/rent/sell of flat, house loans,
renovations, maintenance of the flat, khata transfers, rental agreements
etc. I was trained how the whole process of house loans goes on and what
are the documents required for applying home loan. I was assigned to
collect the documents from the clients who are applying for loan, validate
the documents, keep them in order according to the policies of the banks
and apply for the loan.

The other task that was assigned to me is to make the draft of rental
agreements, sale deeds, Power of Attorney, Service agreements etc. The
draft is all about explaining the regulations, norms to be followed while
staying in the premises, rent and security deposit.

2. Introduction:

Title: Understanding Real Estate Industry and focusing on

strategies for managing in Hypercompetitive Environment.

My project mainly deals with understanding the whole real estate industry
and studying the competitor’s business models, analysing them and
develop new strategies to gain competitive advantage over competitors. It
also consists of analysing the segments of real estate industry and the
further growth of each segment.

For knowing the business models of competitors, I acted as both tenant

and as an owner to get thee accurate information. I had different set of
questions to ask their executives when I went as an owner and as tenant.
Different companies have different strategies to attract their customers and
increase their market share.

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The main motive of my study is to analyse the whole real estate industry in
Bangalore and how to sustain in competitive market by gaining competitive
advantage over competitors. My secondary objective is to study the
business models of competitors in the market and develop techniques
which help the organisation to differentiate from its competitors.

Real Estate Industry in India:

Executive Summary:

 Real Estate sector in India 4th largest sector in terms of FDI inflows.
FDI in the sector stood at US$ 24.66 billion from April 2000 to
September 2017.
 FDI in the sector is estimated to grow to US$ 25 billion by FY22.

As we all know the urbanisation is growing rapidly which bodes well for the
real-estate sector. The number of Indians living in Urban Areas will
increase from 434 million in 2015 to about 600 million by 2031. More than
70% of India’s GDP will be contributed by urban areas by 2020.

 By 2028, India’s real estate market is expected to increase by 7

times.
 By 2028, India’s real estate market size is expected to reach US $853
billion, increasing from US $ 126 billion in 2015.

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 Notes: E – estimated; * from April 2000

Source: Ministry of Tourism, KPMG, World Bank,

Census 2011, EY – India’s Growth Paradigm 2017

Advantages of Real-Estate Industry in India:

There are 4 main advantages for Real estate Industry. They are:

1. Robust Demand
2. Attractive Opportunities
3. Increasing Investments
4. Policy Support

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1. Robust Demand:
 Demand for residential properties has surged due to increased
urbanisation and rising household income. India is among the top 10
price appreciating housing markets internationally.
 About 10 million people migrate to cities every year.
 35 per cent of the population is in young age bracket (15-35 years).
 Growing economy driving demand for commercial and retail space.

2. Attractive Oppurtunities:
 Growing requirements of space from sectors such as education and
healthcare
 Growth in tourism providing opportunities in the hospitality sector
 In 2016, India secured 3rd position in the US Green Building
Council (USGBC) annual ranking of the top 10 countries for LEED
(Leadership in Energy and Environmental Design. This will generate
attractive opportunities for companies to expand their portfolio.

3. Increasing Investments:
 During April 2000 to September 2017, FDI inflows in construction
development in India stood at US$ 24.66 billion and accounted for 7
per cent of total FDI inflows into the country.
 Private equity and debt investments in Indian real estate increased to
US$ 4.18 billion in 2017*, compared to US$ 3.73 billion 2016*.

4. Policy Support

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  The government has allowed FDI of up to 100 per cent for townships
and settlements development projects
 The government has allowed FDI of up to 100 per cent for townships
and settlements development projects
 Real Estate Bill was passed in March 2016 to establish a real estate
regulatory authority for regulating and promoting the sector.

Segments in Indian Real-Estate Industry:

INDIAN REAL ESTATE IS A LARGE, GROWING MARKET:

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 Real estate contribution to India’s GDP is estimated to increase
about 13% by 2028.
 The market size of real estate in India is expected to increase at a
CAGR(Compound Annual Growth Rate) of 15.2% during FY2008-
2028E and is estimated to be worth US $ 853 billion by 2028.
 Increasing share of real- estate in the GDP would be supported by
increasing industrial activity, improving income level and
urbanisation.
 Mumbai and Bengaluru have been rated as the top real investment
destinations in Asia.
 The government also launched 10 key policies for real estate sector
in 2016, namely
 Real Estate Regulatory Act
 Benami Transactions Act
 Boost to affordable housing construction
 Interest subsidy to home buyers
 Change in arbitration norms
 Service tax exemption
 Dividend Distribution Tax (DDT) exemption
 Goods and Service Tax
 PR for foreign investors

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 Source: KPMG, Report on Real Estate Sector in India – Corporate Catalyst
India Pvt Ltd, CBRE

Significance of Further Growth:

 The urban housing shortage in India is estimated at around 10

million units* which is being addressed through Pradhan Mantri
Awas Yojana (PMAY), Urban, under which 1,427,486 houses have
been sanctioned in 2017-18.
 Total rural housing shortage in India stood at 14.8 million as of 2015
and is estimated to have grown to 48.8 million during XII plan period
(2012-2017)

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 Significant increase in real estate activity in cities like Indore,
Raipur, Ahmedabad, Jaipur and other 2-tier cities; this has opened
new avenues of growth for the sector
 Relaxation in the FDI norms for real estate sector has been done to
boost the real estate sector
 Government’s plan to build 100 smart cities would reduce the
migration of people to metro and other developed cities
 In 20171, M&A US$ 3.26 billion worth of deals have been made in
India’s real estate sector.
 In March 2017, the State Bank of India (SBI) and the Confederation
of Real Estate Developers’ Association of India (CREDAI) signed an
MoU for three years to work towards the development of real estate
sector.

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 Source: : Ministry of Housing and Urban Poverty Alleviation, RBI, CRISIL

Demand for Residential Space is expected to grow sharply:

Scenario:

 A localised, fragmented market presents opportunities for

Consolidation with only few large, pan-India players such as
DLF and Unitech.
 More foreign players might enter the market as FDI norms
Have eased
 Furthermore, norms on land acquisition is expected to be
Relaxed
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Key Drivers:

 Rapid Urbanisation
 Growth in population
 Rise in the number of nuclear families
 Easy availability of Finance
 Repatriation of NRIs and HNIs
 Rise in disposable income

Notable Trends:

 NCR is expected to generate maximum demand in MIG

(Middle Income Group) and HIG(High Income Group)
category followed by Bengaluru.
 During the Jan-June, 2016, residential sector commanded
The largest share of PE investments with a total value of US
$ 1.29 billion(44%)
 India jumped 13 spots in Knight Frank’s Global House Price Index to reach 9
in Q2

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Notes: LIG – Low Income Group, MIG - Middle Income Group, HIG - High Income Group

Source: : Cushman and Wakefield

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 Demand for Commercial Space:

-Few large developers with a pan-India presence


dominate the market

Scenario -Operating model has shifted from sales to a


lease and maintenance

- Rapid growth in services sectors: IT/ITeS, BFSI

and Telecom

Key Drivers -Rising demand from MNCs

-Demand for office space in Tier 2 cities

-Mumbai, NCR and Bengaluru account for 60 per

cent of total office space demand in India as of
2017

Notable Trends -The office space absorption in 2016 across the

top eight cities amounted to 34 million square
feet (msf) with Bengaluru recording the highest
net absorption during the year.

-Business activity shifting from CBDs to SBDs, Tier

1 to Tier 2 cities

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Notes: MNC - Multinational Corporation, BFSI - Banking, Financial and Insurance Services, CBD - Central Business
District, SBD - Special Business District, NCR - National Capital Region

Source: Cushman and Wakefield

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Retail Space Growth:
-Currently, retail accounts for a small
portion of the Indian real estate market 

Scenario -Organised retailers are few and the

organised retail space is mostly developed
by residential/office space developers

-Booming consumerism in India

-Organised retail sector growing 25-30

per cent annually

-Entry of MNC retailers

Key Drivers -India’s population below 30 years of

age having exposure to global retail are
expected to drive demand for
organised retail

-NCR accounts for about 49 per cent of the

total upcoming mall supply

-Retail projects in Indian tier 2 and tier 3

cities received investments of US$ 6,192
million between 2006-17.

-Total mall vacancy is 14.1 per cent across

8 cities
Notable Trends
-Total 213 malls are operational in India
and 34 new mall s are expected to become
operational in top 8 cities by 2020.

-Demand for retail space on high streets is

quite high, as well as increase in FDI limit
for multi-brand retail will lead to
significantly higher demand for retail space


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Hospitality Sector Growth:

-NCR and Mumbai are by far the

biggest hospitality markets in India,
followed by Bengaluru, Hyderabad and
Chennai

Scenario -Besides hotels, the hospitality market

comprises serviced apartments and
convention centres

-A robust domestic tourism industry

-The increasingly global nature of Indian

businesses boosting business travel

-Tax incentives for hotels and higher FSI

-Expansion of physical infrastructure

Key Drivers
during the 12th Five Year Plan
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 -Serviced apartments appear
particularly attractive within the
hospitality space

Notable Trends -Government initiatives to promote

tourism in Tier 2 and Tier 3 cities is
generating significant demand for
hotels in such cities, especially for
budget hotels

Porter’s Five Forces Framework Analysis:

Competitive Rivarly:

 Strong rivalry due to large number of players operating in India.

 Limits a seller’s ability to set the prices for goods and services.
 An absence of competitive neutrality due to unequal provisioning of
policy concessions.

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Threat of Substitutes:

 No specific substitutes available

 Substitutes are mainly government-provided housing, mostly limited
to the economically backward class.

Threat of New Entrants:

 Uncertain investment timeline due to long gestation period.

 High cost of land and land use restrictions act as a neutral barrier.
 Brand value of the incumbent player for the consumers.

Bargaining Power of Suppliers:

 Large real estate firms have good bargaining power against

customers.
 Unregulated and badly managed land acquisition difficult for realty
companies.

Bargaining Power of Buyers:

 Due to a large variety of quality players, the customers have many

options to choose from.
 They are becoming more discerning and demanding quality.

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Growth Drivers of Real-Estate:

Growth in
Tourism

Epidemological
Urbanisation
Changes

Growth
Drivers
Growing
Easier Financing
Economy

Policy Support

Growth in Tourism:

 Rising Tourist numbers boosting the Hospitality sector.

 The number of FTAs(Foreign Tourist Arrival) in Nov’17 rose to 14.4%
y-o-y to 1,005,000.
 The number of foreign tourists arriving in India is expected to
increase at a CAGR of 7.1 per cent during 2007–25E
 India’s tourism and hospitality industry is anticipated to touch US$
418.9 billion by 2022

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  As per the Union Budget 2017-18:

-Government allocated US$ 58.92 billion for infrastructure sector.

-By 2019, the government plans to construct one crore houses in

rural areas

-US$ 3.42 billion were allocated for Pradhan Mantri Awas Yojana

 In November 2017, India earned US$ 2.566 billion from the tourism
sector registering a growth of 21.6 per cent from November 2016.
 The growing inflows from tourists is expected to provide a fillip to the
hospitality sector
 Medical tourism sector in India is gaining momentum, with a target
of attracting 8 million medical tourists into the country by 2020.

Urbanisation:

GDP growth of major economies:

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  The Indian economy experienced robust growth in the past decade
and is expected to be one of the fastest growing economies in the
coming years.
 Demand for commercial property is being driven by the country’s
economic growth.
 By 2022, real estate and construction sector in India is expected to
generate 75 million jobs and emerge as the largest employer in the
country.

Population Breakdown of India:

 India’s urban population as a percentage of total population was

around 32.7 per cent in 2015 and is expected to rise to 40 per cent
by 2030
 Better wages and better standard of living is expected to result in an
increase in urban population in India to above 600 million by 2031
from 429 million in 2015
 Government initiatives such as various urban development policies
and programmes (e.g., JNNURM) are expected to contribute to
enhanced urbanisation.

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Government Policies are helping the Real Estate Sector:

-A deduction for additional interest of US$ 746.8 per annum for loans
Ease in Housing upto US$ 0.05 million was sanctioned during 2016-17, in case of first time
home buyers, where the cost of house is less than US$ 0.07 million
Finances 

-Increase in exemption limit from US$ 3317 to US$ 4147 will help in
household savings

-During June 2016 to March 2019, 100 per cent deduction for profits would be
approved for undertaking housing project of flats upto 30 sq. metres in 4 metro
Housing for cities and 60 sq. metres in other cities


Economically weaker -As per section 80GG, increase the limit of deduction of rent paid from US$ 358
sections to US$ 896 per annum, was allowed for the people living on rent.


-Under Union Budget 2017-18, allocation of Rs 23,000 crore (US$ 3.57 billion) has
been made for Pradhan Mantri Awaas Yojana – Gramin, with a target to complete
10 million houses in rural areas by 2019.

-The government has allowed 100 per cent FDI for townships and settlements
development projects
FDI -Provision for reduction in minimum capitalisation for FDI investment from US$ 10
million to US$ 5 million which would help in boosting urbanisation 
In January 2018, Government of India allowed 100 per cent FDI 26 in
| Psingle-brand
age
retail trading and construction development without any government approvals. 
 -SEBI released draft guidelines for investments by Real Estate Investment Trusts
(REITs) in non-residential segment and Infrastructure Investment Trusts. REIT will
Widening the scope of 
open channels for both commercial and infrastructure sector
real-estate market

-In December 2014, the government passed an ordinance amending the Land
Acquisition Bill


Land Acquisition Bill -This ordinance would help speeding up the process for industrial corridors, social
infra, rural infra, housing for the poor and defence capabilities

OFFICIAL MARKET OVERVIEW:

 The office space absorption in 2016 across the top eight cities
amounted to 34 million square feet (msf). The net absorption across
these cities was 18 million square feet (msf) in 20171.
 Investments in India’s office space sector are expected to hit peak in
2017. As of September 2017, India’s commercial real estate has
received more than US$ 2 billion in foreign investment. The first real
estate investment trust (REIT) in India is expected to be launched by
2017 end.
 During Q3 2017, office leasing in India reached 10 million sq ft.
 Office market has been driven mostly by growth in ITeS/IT,BFSI,
consulting and manufacturing
 Moreover, many new companies are planning a foray into Indian
markets due to huge potential and recently relaxed FDI norms
 Supply for prime office space was recorded at 11.9 million sq. ft. in
2016.

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  Rental rates likely to see a gradual upward trend in Bengaluru
 Supply will exceed demand and hence increase vacancies In
Hyderabad
 In 2015, with a share of more than 83 per cent, majority of
transactions in Mumbai was driven by commercial office sector
 Moderate demand, high vacancy and an increased preference for
suburban market with low rentals could pressure the core areas in
Pune

Players in industry:

1.NestAway Technologies Pvt. Ltd.

Nestaway manages all the rental pains on both owner and tenant sides. It
basically turns unbranded, unfurnished houses into fully furnished &
managed apartments and provides them at affordable prices to verified
tenants on a SHARING basis.

Nestaway currently targets the working singles in metros with its affordable
houses rented on a sharing basis. There are also plans to launch for family
segment soon.

Value proposition for tenants

Nestaway provides ready-to-move-in houses at affordable rents that

match PG(Paying Guest) or Hostel prices. Each house is fully furnished
with Sofa, Beds, Cupboards, TV, DTH, Wi-Fi, Washing Machine, Dining
Table, etc - basically all amenities one needs to just move into a house.

Further, Nestaway doesn’t charge any brokerage and its deposit

requirement of 2 months’ rent is way below the market standards.
Nestaway also takes care of most maintenance issues, that may bother it
occupants. True to its Home Rental Network promise, Nestaway allows free
relocation to its tenants to any Nestaway house across India.

In India, singles/bachelors are not always welcome in residential

areas without prior recommendation. Nestaway wishes to change this and
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believes single professionals deserve comfortable living spaces that they
can look forward to return to after a long day at work.

Value proposition for homeowners

A Nestaway home owner can earn upto 30-40% more rental than ordinary
rentals. But more than that, Nestaway establishes a solid “trust” factor by
verifying every potential tenant using their ID, a permanent address, and
proofs of employment & education. Also owners set their own rent & get to
approve tenants online from their proof documents.

The startup then takes care of the legal agreement, rent collection, home
repairs, and more. It also provides them a Property Insurance of Rs 1
Crore Home Insurance that’s unparalleled in this industry. Unlike
anyone in the industry, Nestaway used to provide guaranteed rent in the
initial stages of their operations, but now as their market share has moved
high and has competitive advantage, they only give some percentage share
from the rent to the owner. Nestaway basically ensures a hassle free
experience for home owners while providing them a higher rental income.

2.HOMIGO

Homigo is dedicated towards the vision of creating a standardized renting

experience for both the house owners and the tenants. With both shared
and non-shared homes available, you can make a quick shift with family,
friends or just alone. Homigo tailors it all and keeps spreading its cheer,
and with each passing day, living with us gets more exciting. We go easy on
your pocket so you get a big smile with your home. Offerings include:
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✦Beautifully furnished houses with all the necessary appliances

✦Freedom from brokerage and hefty security deposits

✦Free relocation among Homigo houses across different cities

✦Wi-Fi, DTH, electricity and other utility bills taken care of

✦No end-term/painting charges while moving out

3. Zenify

Zenify is a Bengaluru-based residential rental management

company founded in2012. Customers can search and rent properties
online. The company provides overall maintenance of the residential
buildings that it handles, including waste management, security,
housekeeping and bill payments.

✦In November 2015, Zenify partnered with the furniture rental platform

Rentomojo to provide furniture for rent along with the accommodation. In

February 2016, Zenify partnered with Uber to provide rides to its
customers for property visits.

✦In May, 2017 NestAway has acquired Zenify for an undisclosed amount to

offer flats on rent to families.

Zenify's value proposition is two fold.

• Provide apartment owners a perfect solution in handling all issues in

renting out a apartment. We find the right tenants for you and take care of
all logistics.

• Make it extremely easy for prospective tenants to find the right apartment
for their needs.
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For owners:

• Assured rent

• End to end property management

• Strong tenant screening

For tenants:

• Online bookings

• Fair pricing and agreement terms

• Quality living

If clients want to see the flat, they usually take Rs.10,000 as token amount
and then fix the appointment with the executive. If he/she didn’t like the
flat the amount paid will be refunded on the same payment platform. If
he/she likes the flat they adjust that amount in the security deposit or in
the first month rent.

4.Squareplums

Squareplums is India's leading chain of "Branded" rental homes for

singles with presence in 5 cities and managing hundreds of properties.
Square Plums makes it easy for singles to rent fully furnished homes in
prime locations. All Square Plums homes are curated, designed and
furnished with a lot of attention keeping in mind the unique
requirements of singles. Once you live in a Square Plums rental home, you
will not want to live anywhere else!

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For house owners, Square Plums offers the benefit of letting out a fully
furnished house, with up to 50% higher rentals, without having to spend
on furnishing the house. What's more, we assure fully vetted tenants with
easy online documentation and no brokerage.

They also cater to family based rental requirements besides shared

rooms for PGs and singles. If you’re planning to relocate with your family,
you can find affordable yet modern apartments in trending Bangalore
locations. You’ll save upon the brokerage cost since SquarePlums
does not charge brokerage or employ brokers to work on its behalf.
The cashless payment options make the booking process smooth and
streamlined. To top it up you’re sure to find attractive shared homes in
several popular localities in Bangalore.

5.GETSETHOME:

GetSetHome is a platform that offers quality shared homes for long

term stays. Their accommodations are ready to move-in, fully furnished
homes along with amenities like Wifi & DTH. We offer private as well as
shared rooms to tenants. So whether you are a working professional or a
student or a nomad looking for rented houses in a new city, don't
compromise your lifestyle by living as a PG in a substandard
apartment SayNoToPG. Explore, discover and experience hassle-free
flexible stays with GetSetHome without the worry of brokerage,
maintenance, time restrictions or heavy deposits

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 2.2 COMPANY OVERVIEW:

Company Name: GOABRIGO HOSPITALITIES

Vision:

To set up healthy and ethical real estate environment with the clients

Mission:

To be market leader in shared accommodation in Whitefield, Bangalore

The company has two divisions of business. They are

1) Shared Accommodation
2) Property Management

SHARED ACCOMMODATION:

GoAbrigo Hospitalities provide shared accommodations for bachelors at the

cost effective budgets in the best localities in Bangalore. They make sure
the wishes of both rentals and owners are fulfilled. They provide all this at
zero brokerage. The company leases the apartments from owners and rent
out the flat on sharing basis. Usually the company only deals with 3BHK’s
which are in best societies and have good amenities.

The service provided is different from PG’s, Hotels, Service Apartment, Guest
House etc.

 PG’s are basically hostels in a building where there will be no

amenities like swimming pool, gym, etc but where as in the company
only takes a part of the building in a gated society which has
amenities like gym, swimming pool etc.
 Hotels are meant only to provide short term accommodation (The stay
which lasts for less than 30 days is considered as Short term
accommodation). They only rent out for long term (more than 6
months).

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  A serviced apartment (also known as a service apartment or
an extended stay apartment) is a fully
furnished apartment available for short-term or long-term stay,
providing hotel-like amenities such as room service, a fitness center,
a laundry room, and a rec room. This company doesn’t provide room
service facility.
 Guest House is a private home which has been converted for the
exclusive use of guest accommodation. The owner usually lives in an
entirely separate area within the property and the guest house may
serve as a form of lodging business. The company doesn’t deal with
the short term stays.

Property Management:

This is another division where the company has different domains. Some of
them are

1) Sale Purchase
2) Rent
3) Inspection
4) Documentation’
5) Housing Loan
6) Repairs/ Renovation
7) Legal Procedures
8) Interior Design

1) Sale Purchase:

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 The people who work in the corporate world will find trouble in selling
their flat while relocating to another city or country. So, they want to run
the whole process smoothly and fastly. The organisation has their own
channel partners, online portals etc for the client hunting. The charges
will be 1% of the sale purchase amount from both the parties. In some
cases the seller will not be in a position to pay the commission, in that
case the organisation will charge from the buyer.

2) Rent:

In this fast moving world, the owners of the flat don’t have time to search
for their tenants who matches their requirements. In that case the
organisation will help the owners in finding the best tenant, who matches
their preferences. The company charges one month rent as commission
from both the parties. There are some exemptions for receiving the
commission. They are :-

 In some cases, the owner will not be in a position to pay the

commission because he will be having different proposals from
different real estate agencies.
 In some cases, the owner will be in a position to pay 15 days of
rent as commission.
 But for the tenants, there will be compulsory charges of 1month
rent as commission.
 In rare cases, if tenants are from referrals or any other existing
clients the commission may come down to 15days of rent.

The concession will be given only in rare cases for not losing the business.

3) Inspection:

In most of the cases, the owners who are renting out their flat will not stay
near the flat. They either stay in the same city or other city or other country.
So, when the old tenant is vacating the flat and the new tenant is coming, it
will be difficult for the owner to come from his place and check the flat. So
the company provides the whole report of the flat which includes the

35 | P a g e
working conditions of taps, fans, tube lights and all other furniture. If there
are any damages the company will solve the problem and send the scanned
bills of the whole to the owner.

4) Legal Documentation:

The company also provides solution to the people who are searching for legal
formalities while purchasing, selling, leasing, renting the flat. The
documentation include preparation of Sale Deed, Rental Agreements,
preparing Power of Attorney, Khata transfers, BESCOM transfers etc.

5) Housing Loan:

The company acts as Housing Loan Consultant(HLC) of several banks like

State Bank of India(SBI), HDFC bank, Axis Bank etc. It provides solution for
the buyers who are planning to apply for the loan when buying the property.
The process for sanctioning a housing loan is too complicated and involves a
lot of steps. As the bank branches are the company’s channel partners, the
process will be fastened and sanctioned smoothly when compared to the
original process. The process only fastens if all the required documents are
submitted on time with valid stamps.

6) Repairs/ Renovation:

We all know that the house is not the same way all the time, there will be
some leakages, electricity problems, maintenance problems etc. The
company has significant channel partners who have expertise for each
domain.

The taste and preferences of the human being changes rapidly. So, the
owners will have different thoughts of changing the colour of the flat, having
theme wallpapers for the walls, changing the style of furniture, upgrading
the existing styles of wardrobe etc. The company also provides solution for
this problem also.

7) Legal Procedure:

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There will be different legal procedure for different issues. For example the
procedure for buying the flat differs from taking it on rent/lease. The
company has expertise in all the legal formalities and procedures related to
property management.

In this domain, the company mainly run their business on commission

basis. They usually charge 2% commission in sale purchase domain. Other
domains except repairs have fixed amount of fee charged as commission. In
repairs they charge 15% amount on the total repair cost.

3. Project Profile

3.1 Objectives of the Study:

 Understand the whole Real Estate Industry and study the

business models of competitors existing in the industry.
 Understand the strategies used by the competitors and develop
some strategies which differentiate from competitors and help
the organisation to gain competitive advantage.

3.2 Methodology:

The approach that is used for this research is Empirical-Analytical Group

Approach. This approach mainly focuses on objective knowledge. It employs
deductive reasoning that uses existing theories as foundation for
formulating hypothesis that need to be tested and focused on explanation.
The reason I chose Empirical Analytical research is , the researcher analyzes
a specific subject. The specific subject in my study is about the real estate
industry and hypercompetition.

The type of research used is Descriptive Research. Descriptive Research

Design is a scientific method which involves observing and describing the

37 | P a g e
behaviour of a subject without influencing in any way. The main goal of this
type of research is to describe the data and characteristics about what is
being studied.

For this research I used both Primary Data and Secondary Data.

Primary Data:

The data which is collected for the research is known as Primary Data. My
main objective is to understand the business models of competitors, so I
approached every competitor as a tenant and as an owner. I made different
set of questions that are to be asked as tenant and owner. When I
approached and met the executives, based on the conversation and
responses I collected the data.

Secondary Data:

The data which is already existing or collected by other researcher is known

as Secondary Data. My other objective is to analyse the strategies used by
different competitors and develop new strategies for the organisation which
helps them to gain competitive advantage and sustain in the present
hypercompetitive environment. So, to analyse the strategies and identify the
areas of competition I referred a book named “Hypercompetition:
Managing the Dynamics of Strategic Maneuvering by Richard D’Aveni”

I used Google Forms to take responses and analyse the data.

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4 .Observation & Analysis:

The present business world is moving from competition to hypercompetition

according to theory given by Richard D’Aveni, the competition escalates
across four areas of competition. As developments make continued
improvement in one area difficult, competition jumps across to another. The
four arenas are:

1. Cost- quality advantages

2. Timing and know-how advantages
3. Strongholds from erecting entry barriers
4. Deep pockets

The report deals with analysing each and every area of competition, how
each area affects the business. The organisation must be in a position to
develop unique strategies for each area of competition to sustain in the
hypercompetitive environment. My objective is to suggest the organisation
for developing strategies for each area of competition.

Hypercompetition Arena 1 – Cost and Quality

This is the traditional battleground for competitive strategy laid out in

the customer value map. Advantage comes from providing more value for
money and accurately predicting how competitors will react.

Firms can compete at particular points along the value curve or along the
full length of it from a low price, low quality product all the way through to a
high price, high quality product.

Competition forces companies to move to a position of what Richard D’Aveni

calls ultimate value which is a high quality product for a low cost as actions
to create differentiation and avoid a price war ultimately prove futile.

Usually, the companies charge more for the room which has both balcony
and attached bathroom, so, if GoAbrigo charges less than their competitors

39 | P a g e
and bare some delta as loss for first few months, it could be helpful for the
organisation to gain customer value as low price and high quality product.

The companies also usually charge moving-in charges, Documentation

charges when the customer is moving into the flat. The charges could be 2k
for moving-in and 500 for Documentation. If the organisation give
concession on both of the charges, they can easily differentiate with pricing
when explaining the services to the clients.

Hypercompetition Arena 2 – Timing and Know-How

If the first arena is a nod to strategic positioning, this second area is a

resource based strategy view of dynamic competition and how it can be used
to bring out new products which change the rules of the market.

First mover advantages exist but competitors imitate. The more they imitate,
the better and faster they get, forcing the innovator to speed up its own cycle
of innovation. Ultimately the cost of innovation exceeds the short term gains
that can be made from innovating.

Usually the layout of 3BHK where shared accommodation aptly works is

having two attached bathrooms and one common bath room that means a
total of 3bathrooms. But there are some gated societies where there are only
2bathrooms in a 3BHK flat. Nestaway has a good success ratio in filling the
flats which has 2bathrooms by giving some discounts and differentiating
with the pricing. So, it gained the first mover advantage of taking the flats
which has 2bathrooms. The delta of profit will be almost same because the
flat has 3bathrooms has more area in terms of sq.ft and the maintenance
will be high when compared to the flat which has 2 bathrooms. Even the
rent that is paid to the owner will also be low. So, the company’s delta will
be almost same.

Hypercompetition Arena 3 – Strongholds

In this third arena, the reference is back to Michael Porter and his work on
barriers to entry that protect industries from newcomers.

40 | P a g e
Unfortunately few barriers to entry last long when severely challenged.
Competitors build up their own resources and skills and are able to get over
or around barriers that have been erected.

There are less barriers for entering into the market. The existing players
must be very careful in maintaining their resources and leads. If they are
not that careful, there are lot players who offer the same service which
results in decrease of the market share.

Hypercompetition Arena 4 – Deep Pockets

Sometimes muscle counts in competition. A large or concentrated force is a

proven winner in military strategy, partly because of its ability to sustain
losses and still mount an attack.

Smaller firms can avoid any disadvantage in this area through joint
ventures and strategic alliances.

The companies usually take the flats which are in semi-furnished or un-
furnished condition flats from the owners. They spend the money for the
furniture and then rent it out to bachelors. So, lot of channel partners are
involved and strong relationship is required with the partners. There will be
different vendors who provide beds, sofas, dining table, interiors,
electricians, painters, etc. So, if the relationship is properly maintained with
the vendors, the work could be easier and the investment could be
shortened.

The other area which company can look into is which room is to be rented
out fastly.

The layout of 3BHK is

 One room will have both attached balcony and bathroom.

 One room will have only attached balcony and common area
washroom.
 One room will have attached bathroom.

41 | P a g e
Usually the companies try to rent out the room which has both attached
bathroom and balcony. But from my observation, if they fill the both rooms
which has attached bathroom first, they will have nothing to praise about
the room which has no attached bathroom.

So, if the organisation can try to fill the room which has only balcony first by
saying that the view will be good, price is low, saying about the facing etc.
The other two rooms will be easily filled because it has attached bathroom.

Analysis of Real Estate in Bangalore:

Bangalore is located towards the South-Eastern part of Karnataka. It is
India's third most populous city, after Mumbai and Delhi. Rapid growth of
the industrial and service sectors has made it one of the most sought-after
cities in the country. It has also become one of the prime real estate
destinations where demand is largely driven by the end-user.

The cosmopolitan outlook of Bangalore and new job opportunities has

resulted in a major influx of people from all over the country. As a result,
the city witnessed the highest growth of population compared to all metros
of India in recent times.

Bangalore is today the 4th largest technology hub in the world after San
Francisco, Boston and London. The IT/ITeS sector generates more than two-
third jobs in the city and has presence of big IT stalwarts including Infosys,
Wipro, Tata Consultancy Services, Oracle, Dell, IBM, Microsoft, Accenture,
Cognizant, etc.

The two main clusters of the IT industry in the city are Electronics City and
Whitefield. Moreover, there are 27 Special Economic Zones (SEZs) housing
IT companies. Outer Ring Road hosts many of the prime office space
markets of the city.

Bangalore is primarily an end-user driven market. In the first quarter of

2013, when demand for office space declined, demand for the housing space
increased by 33 per cent. In the past, residential real estate in the city was
dominated by individual houses. But in the last decade there has been a

42 | P a g e
gradual shift in preference towards apartments and flats. Since Bangalore is
a hub for migrants, the rental housing market is the biggest among Indian
metropolises.

1) Core business of the company?

4.1 Bar Graph

Interpretation: From the graph it is clear that 85.7% of the competitors

provide rental solutions, 57.1% provide fully furnished flats for share
accommodation and 42.9% provide property management solutions.

2) Most the company’s flats are in?

43 | P a g e
 4.2 Bar Graph

Interpretation: Most of the competitors operate in single building because

it is very difficult for the start ups to enter into the gated societies and
residential apartments. The company’s which have experience and has high
market share operate in gated communities, residential apartments, single
building.

3) Amenities provided

4.3 Bar Graph

Interpretation: From the graph, it is clear that most the competitor’s

amenities include gym, swimming pool. Usually the start ups don’t provide

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TV’s and Wifi services as the investment will be high. There are only few
players who provide TV and Wifi router.

4) Status of the flat?

4.4 Pie Chart

Interpretation: Based on the Pie chart it is clear that most of the

companies offer fully furnished flats for bachelors as shared
accommodation. The remaining flats which are semi and not furnished flats
are offered for rental solutions either for families or group of bachelors.

5) Will the company provide guaranteed rent to owner?

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 4.5 Pie Chart

Interpretation: Based on the pie chart it is clear that the existing

companies are of two types who provide guaranteed rent and who do not
provide guaranteed rent. On my observation, the company’s who are new to
the industry and want to gain the market share, they provide guaranteed
rent, the company’s who are old and have high market share, they do not
provide guaranteed rent. The flats which are in single building and which
are far from the road, the company’s do not provide guaranteed rent.

6) Can owner see the profiles of tenants?

4.6 Pie Chart

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Interpretation: The Company’s usually show the profiles of tenants to
owners. Usually the tenants and owners must meet while signing the rental
agreement. If the company take under lease clause, they will not show the
tenant profile to owners.

7) What is the lock-in period for tenants?

4.7 Pie Chart

Interpretation: Usually the Company’s have 1-3 months of lock-in periods.

If the lock-in period is long, the tenants will not show much interest. As the
employed people will have lot of transfers and there will lot of factors
depending on the shift of flats. So, the company’s which have least lock-in
periods will succeed.

8) Will the company charge any brokerage from tenants?

47 | P a g e
 4.8 Pie Chart

Interpretation: The Company’s usually don’t charge any brokerage from

tenants for providing shared accommodation because their profits will in the
form of monthly rent what tenants pay.

9) Are there any extra charges for tenant while moving in?

4.9 Pie Chart

Interpretation: Usually the tenants need to pay moving-in charges and

documentation charges while coming moving inside the flat. Some start-ups
do not charge moving-in charges if they operate in single buildings.

48 | P a g e
 10) Rent for each bed in a room which has both attached
bathroom and balcony?

4.10 Pie Chart

Interpretation: The Company’s charge more rent from tenants for the room
which has both attached bath room and attached balcony.

11) Rent for each bed in a room which has attached balcony but
no bathroom?

4.11 Pie Chart

Interpretation: Usually the rent will be on a lower side for the room which
has no bathroom.

49 | P a g e
 12) Rent for each bed in a room which has attached bathroom
and no balcony?

4.12 Pie Chart

Interpretation: The rent will be moderate for the room which has attached
bathroom.

5. Findings:
 Most of the company’s doesn’t rely only on providing Shared
Accommodation for the profits; they also operate some other divisions
like rental solutions, property management, documentation etc.
 The firms which are established and which has high market share,
their most of the revenue comes from shared accommodation but for
the start ups, their revenue comes from other divisions.
 As the switching cost for customers will be less while choosing the
flat, the company’s should deal in a polite way to convert the lead.
 The end to end contact with the customer will be the executives who
represent the company. If they give any loose talks or any false
promises, the company should bear the losses. So, the company’s
should train them in a professional way and improve their
communication skills while interacting with the clients.

50 | P a g e
  Usually the company’s try to get the original rent that has to be paid
to the owner from the first 4beds and the remaining 2beds rent will be
the delta.

6 Recommendations:

 The company must start taking risk by taking the 3BHK flats
which has only 2bathrooms and take first mover advantage among
the start ups that are into the same model.
 The company should start expanding and try to manage their
operations all over the Bangalore in order to generate more leads
which tend more profits.
 I suggest the company to hire more people who can look into
specific domains which increases their efficiency.
 The company should mainly focus on following up the leads that
are generated.
 I suggest the company to maintain a diary of the leads that tend to
convert in a week or a month or that are positive.
 The company should also focus on improving the channel partners
to promote their inventory and try to maintain the good
relationship with the existing channel partners.
 The company can also look into developing an app and a dynamic
website which helps them to track all the leads generated and it
also helps to increase the traffic.

51 | P a g e
7 Conclusions:

Hypercompetiton is an environment characterised by intense

and rapid competitive moves, in which competitors must move quickly to
build advantages. It is the process of continuously generating new
competitive advantages and destroying or neutralizing the opponent’s
competitive advantage.

From my analysis Superior Stakeholder Satisfaction is the key

to winning each dynamic strategy. The customers are not the only
stakeholders that must be satisfies. By empowering employees, the company
can gain the internal motivation and vision needed to carry out those moves.

The company’s must be speed in developing strategies to take

advantage of opportunities, to move quickly against competitors, or to
respond to a competitor’s attack. Speed enhances the ability to serve
customers and to chose the moment in time that the firm will enter the
market (e.g., as a first mover or a fast follower)

From the analysis it is clear that Real Estate Industry has a

wide scope to operate its business in the Indian Market. The customer base
is too high so the company’s should find new ways of satisfying customers
that transform the industry.

52 | P a g e
 ANNEXURE
GoAbrigo Hospitalities form

Name…………………………………………………………………………………
……………. Age……………………..
Phone………………………………………………….. E-mail
id…………………………………………………………..
Looking for a property in 2BHK/3BHK………………..…… To
Buy/Sale/Rent……………….………..

Address……..…………………………………………………………………………
…………………………………………

…………………………………………………………………………………………
…………………………………………..

Preferences……………………………………………………………………………
………………………………………..
I agree to avail the services of GoAbrigo Hospitalities at 30 days at
(Rent, or 2% of sale) agreed amount.

Sign__________________________
Date_____________________

53 | P a g e
 CANOPY that has been designed and assembled by us.

54 | P a g e
 LOGO which has been designed by me.

Pamphlet that is designed by us during our tenure.

55 | P a g e
 RENTAL AGREEMENT

This agreement is made and executed at Bangalore on this day of ………

Between

Mr. Amit Sharma, aged 37 years & Mrs. Saisudha Sharma aged 37 years, (represented by

its Power of Attorney – Sai Kumar aged 39 years residing at 908/2,Bharathi Nagar, 3 rd Cross

Street, Salem, Tamil nadu (636005)

56 | P a g e
(Hereinafter referred to as the "LESSOR" which expression shall mean to include their heirs,

legal representatives, administrators, executors and successors in interest and assigns) of the

FIRST PART.

Mr. …….. aged years s/o ……… having his permanent Address at “ ………… employed

with …………………. with Employee ID………and Passport No. ………………..

(Hereinafter referred to as the "LESSEE", which expression shall mean to include his heirs,

legal representatives, administrators, executors and successors in interest and assigns) of the

SECOND PART.

WHEREREAS the LESSOR is the absolute owner of Flat No. D-203, Gopalan Grandeur,

Hoodi Circle, Whitefield Road, Bangalore-560048, with amenities, fittings as described and

scheduled hereunder written (Hereinafter referred to as the "SCHEDULE PREMISES")

WHERE as the LESSEE who is residing at the above address is interested in taking on rent

the above premises along with his wife Mrs……………..

NOW THE DEED WITNESSETH BETWEEN THE LESSOR AND LESSEE AS

FOLLOWS:

57 | P a g e
GENERAL: That in consideration of rent hereby reserved and the terms, conditions and

covenants contained in this agreement, the LESSOR hereby agree to grant and the LESSEE

agrees to take on lease the scheduled premises.

TENANCY MONTH: The tenancy month shall be English Calendar Month.

RENT: The rent, inclusive of Maintenance Charges, payable to the LESSOR for scheduled

premises shall be a sum of Rs.22,000/- (Rupees Twenty two Thousand Only) per month

payable in advance by the 5th of every English Calendar Month. Penalty interest of 15 % per

annum is payable for any delay beyond grace period of 5 days.

PAYMENT PROCEDURE: The agreed amount as stated above shall be paid in advance, on

or before 5th (Fifth) of every month to Name – “Saisudha Sharma” HDFC Savings A/c -

05141610009199 Branch – Brookfields . BANGALORE IFSC Code for NEFT

HDFC0002870 under intimation to the Lessor confirming payment.

DEPOSIT: The LESSEE has paid a sum of Rs.1,25,000 /- (Rupees One lacs twenty

Thousand Only) as Interest Free deposit to the LESSOR, which shall be returned to Lessee

with deductions if any on the expiry of the lease period or on termination of the lease and

shall not be liable to be appropriated or adjusted towards any of the lease rentals or other dues

during Lessee occupation of the said Premises.

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DURATION OF THIS AGREEMENT: The Agreement shall be for a period of 11

(ELEVEN) months commencing from ……….. Further extension of lease, if any shall be

after mutual consent and as per mutually agreed terms, subject to an increase in rent by 5-

10% after completion of the eleven (11) months, subject to the LESSEE not being in default

or breach of any of the conditions,

PREMISES TO BE MAINTAINED IN GOOD CONDITION: A) The LESSEE shall

maintain the Schedule Property in good and tenantable condition at his cost and handover the

same in the same condition as it was given subject to normal wear and tear. B) The LESSEE

shall maintain all the fittings and fixtures supplied with the schedule property in good and

miming condition and shall make good any loss in the event of any breakage or item/s

replaced with similar value and brand in case of non-repairable condition by the LESSEE.

LESSEE shall notify promptly about any item not in working condition within 7 days after

taking possession of the property and its items to the LESSOR.

MAINTENANCE CHARGES The LESSOR shall pay the Maintenance Charges of

Apartment promptly as per the actual charges levied by the Gopalan Grandeur Residents

Association as and when demanded and provide proof of such payment to the LESSOR .

UTILITY CHARGES: The LESSEE shall promptly pay the charges for electricity to the

concerned authorities before the due date to ensure that there is no delay or penalty, which

will result in disconnection of services. All other charges such as Telephone bill, Internet,

59 | P a g e
Cable T.V, Cooking gas etc (if availed by the lessee on his own) shall be paid to the service

provider directly and the proof of settling these dues shall be shown to the Lessor at the time

of handing over the premises after the tenure of the lease agreement

BAR ON ADDITION ALTERATIONS: The LESSEE shall not make any structural

alterations or additions or modification either temporary or permanent without the written

permission of the LESSOR.

PROPERTY TAX: The LESSOR hereby covenants to pay property tax, cesses and

assessments and outgoings as levied by on the owner payable to the local authorities in

respect of the schedule premises.

USE OF PREMISES: The schedule premises shall be used only for dwelling purposes and

the said premises will not be used for storage of any dangerous or hazardous purposes or

unlawful purpose or trading/commercial activity. The LESSEE agrees to abide by the rules

and regulations as stipulated during the period of tenancy without causing embarrassment to

the Lessor and the community/association.

RIGHT OF INSPECTION: The LESSOR or any of her representatives/agents/workmen

shall be entitled to enter the scheduled property at all reasonable hours for the purpose of

60 | P a g e
inspection/carrying out any repairs/construction relating to the building by giving notice to

the LESSEE.

LESSOR'S COVENANTS: The LESSOR covenants that he is the lawful owner of the

scheduled premises and has the right and power to lease the Scheduled Premises to the

LESSEE. The LESSOR further covenant that the LESSEE paying the agreed rents and

observing and performing all the terms and conditions herein shall be entitled to possession

and peaceful enjoyment of the Scheduled Premises without any manner of let, hindrance,

interruption; or disturbance by or from the LESSOR or by any person or persons claiming

through under or in trust for the LESSOR.

REDELIVERY & POSSESSION: The LESSEE hereby agrees and undertakes that he shall

deliver the vacant possession of the scheduled property at the time of expiry of present

agreement, period or after the expiry of the notice period in the same condition as it was

leased and against refund of entire security deposit, less deductions if any. Incase LESSEE is

not able to return the scheduled premises in the similar condition what he got , LESSOR has

the right to deduct a fixed amount of Rs.20,000/-(Rupees Twenty Thousand Only) (Which

may vary from 20,000 INR subject to the damage/repair/painting cost etc) against

depreciation/painting/repair charges ,to be deducted from deposit. It is also understood that

on vacation of the scheduled premises under this agreement, the LESSEE will clear all the

dues towards electricity, arrears of rent and all other connected charges pertaining to the

leased schedule premises payable for the period the premises occupied by him without any

demur or delay. At the time of LESSOR taking possession from LESSEE at the termination

61 | P a g e
of the lease period, an inventory of contents will be prepared by representatives of both

parties and compared with the inventory prepared at the start of the lease period.

BAR ON SUB-LET: The LESSEE shall not sub-let, assign, underlet or part with the

possession of the schedule property or any part thereof without the written permission of the

LESSOR.

'TERMINATION OF THE LEASE: a) By efflux of time b) The LESSEE/LESSOR shall

have the option to terminate the lease any time during the active lease term by giving a two

month/Eight Weeks’ notice. In case of shortfall of number of days from the two months

notice period for termination of LEASE, LESSEE/LESSOR agrees to pay equivalent monthly

rental amount calculated on prorate basis for the number of days falling short of 2 month

notice period. c) The LESSOR shall be entitled to terminate the lease by giving to the

LESSEE two weeks notice in writing in case the LESSEE does not pay the rent for 2

consecutive months. d) In the event of breach by either party of the terms and conditions as

laid down above.

LEGAL JURISDICTION – All disputes will be subject to Tamilnadu/Bangalore

Jurisdiction.

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 SCHEDULE PREMISES

Description of scheduled Property: All that piece and parcel of the residential premises

bearing, D - 203 ,Gopalan Grandeur, Hoodi Circle, Whitefield Road, Bangalore-560048,

consisting of Living Room, 1 Bed Room having 1 attached Bath Room and 1 common Bath

Room, Dining area, One Kitchen with Utility Space, two balconies and a Covered Car Park

for one car. One Room will remain Locked and will not be made accessible to LESSEE in

which the LEESOR has kept his Household/Personal Stuff and the key of the room will

remain with LEESOR.

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 FITTINGS, FIXTURES AND FURNISHINGS

D-203 Gopalan Apartments - Items list

S.No Description Brand Model No Quantity Location Comments

Sony with

Bravia remote

1 Television LED 40" EX-52 1 Hall control

with

Speaker Set of 5 remote

2 System Sony SAD 10 speakers Hall control

with

remote

3 DVD Player Onida 1 Hall control

with

Dishtv remote

4 Set Top Box DTH N/A 1 Hall control

5 Sofa Set N/A N/A 3+1+1 seater Hall

Dining Table 1 Table with

6 with Chairs N/A N/A set of 6 Chairs Hall

7 Inverter Microtek N/A 1 Hall

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 150 AH

8 Battery Amararaja Power 1 Hall

Hall +

9 Ceiling Fans N/A N/A 3 fans Rooms

RT

10 Refrigerator Samsung 23/2008 1 Kitchen

Microwave Buttons

11 Oven IFB 25 PG 1S 1 Kitchen dysfunction

Kent

Water RO Grand

12 System Plus N/A 1 Kitchen

with 4

13 Gas Stove Prestige N/A 1 Kitchen burners

Gas

Cylinders with 1

14 (Domestic) Indane N/A 2 Kitchen regulator

15 Chimney Elica N/A 1 Kitchen

16 Study Table N/A N/A 1 Bedroom

Kind Size

Double Bed with

17 Cot N/A storage 1 Bedroom

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 At

Two door Bedroom

18 Wardrobe N/A N/A 1 Entrance

Foam Duroflex Maroon

19 Mattress king size colour 1 Bedroom

20 Modem Beetel 450 BX 1 1 Bedroom

Cordless

21 Phone Panasonic 2.4 GHZ 1 Bedroom

Geyser

(Water Bathroom

22 Heater) Indo N/A 1 1

LG Not

Washing Automatic Turbo Utility functioning

23 Machine 6.5 Kg Drum 1 Area need repair

Hall &

24 Wall Clock N/A N/A 2 Bedroom

Bathroom

25 Exhaust Fans N/A N/A 2 1&2

26 Tube lights N/A N/A 3

27 CFLs N/A N/A 10

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In WITNESS WHEREOF the parties have set their respective hands to this Agreement on the

day, month and year first above-mentioned.

WITNESSES

1.

(J.J.Properties-7760769004)

2.

LESSOR - POA LESSEE

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References:

https://en.wikipedia.org/wiki/Real_estate
https://www.ibef.org/industry/real-estate-
india.aspx

https://www.quora.com/How-does-NestAway-
work

https://www.quora.com/topic/HOMIGO

https://www.zenify.in/aboutus

https://en.wikipedia.org/wiki/Zenify

https://www.getsethome.com

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