INTERIM PROJECT REPORT

on

Customer preferences in real estate for investment and using it in marketing Research in reference to the Indiabulls real estate ltd.

Submitted by:ASHISH AGGARWAL 12BSPHH010211 IBS Hyderabad

INTERIM PROJECT REPORT

on
Customer preferences in real estate for investment and using it in marketing research in reference to the Indiabulls real estate ltd.

by ASHISH AGGARWAL 12BSPHH010211

A report submitted in partial fulfilment of the requirements of MBA Program of IBS Hyderabad

Company Guide Faculty Guide

Mr .ATISH GUPTA DR.K .C PRAKASH

Date of Submission

3rd May, 2013

ABSTRACT
I did my Summer Internship Program (SIP) in Indiabulls real estate, a real estate sector company. My project title is Customer preferences March 2013 to 30
th

in real estate for investment and using it in marketing research in reference to the Indiabulls real estate ltd . Duration of my SIP was for twelve weeks starting from 13 th may.

The project basic objectives are To know how the understanding and perception about risk differs from person to person based on different factors like income, age and demography. Understanding the investment risk of customers and real estate market knowledge and using it to convert the calls into deals ie sales. To know that how the consumers get information about real estate projects in market. To study differentiate the project from other keeping the end users view in mind & study the real sector trend here. The project involved studying of consumer preference for making investment in real estate and using it in market research which included online survey for DELHI NCR creating a database for the same. In todays dynamic environment it is very important to have a brief knowledge about the real estate market therefore in order to do so I met the distributors, Property dealers ,consultants and clients to get an insight of my project. Various projects in delhi NCR such as MAPSKO CASEBELLA,PALM RESIDENCY,INDIABULLS CENTRUM ,SHUBHKAMNA TECHHOMES etc in the same area were studied and finally efforts were made to increase the sales . Data were collected from both primary and secondary sources. The primary research was conducted through property dealers, consultants and clients on various real esate projects with the help of questionnaires and personal interviews. The collected data was analyzed using factor analysis and perceptual mapping. After analyzing the data, it was observed that there are many factors which effect the clients preference while making real estate investment.As there are no of competitors in this sector, Indiabulls real estate receives stiff competition from the other players such as DLF and Ansals. During SIP efforts were made to learn housing loan procedures and requirements .It also gave me opportunity to know various legal issues and technicalities . Finally it helped me to sharp my marketing skills through telesales and meeting clients personally.

1.2 OBJECTIVE:Primary objective: To know how the understanding and perception about risk differs from person to person based on different factors like income, age and demography. Understanding the investment risk of customers and real estate market knowledge and using it to convert the calls into deals ie Sales. To know that what factors make an real estate investment lucrative to the customers. To know that how the consumers get information about real estate projects in market. To study differentiate the project from other keeping the end users view in mind & study the real sector trend here.

Secondary objectives: To study the brand awareness of Indiabulls real estate among the investors with different income groups, occupation &gender. To produce valuable inputs for Indiabulls from the Noida/Delhi/Gurgaon market. Whether advertisement is important for branding (effectiveness of advertisement towards developing brand. Do brand elements play important role in building brand equity. How factors like customer loyalty, brand association, & relationship management help in building brand equity. To study whether business ethics play important role in building brand equity.

1.3 RESEARCH METHODOLOGY

A science of how research is done scientifically and follows systematic steps for logically solves the research problem. The research was conducted from 01 of April 2013 to 15 May 2013 which involved meetings with Clients, property dealers and consultants. The questionnaire prepared after the pilot study and exploratory research for the purpose of understanding the market opportunities of Amul frozen Malai Paneer, its penetration at the retailers level and variables affecting consumer perception while purchasing the same. The result was recorded and used for further analysis.
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(A)Identifying the research problems

Investors
To find the factors essential in making real estate project lucrative and more preferable to customers . To study the market scenario of the real estate market. To seek the general perception on India bulls. To understand how the buying pattern, preference of consumers has become important for the company as well and they come out with various propositions and lucrative deals to cater to this segment who are the current as well as prospective customers for purchasing india bulls projects.

B)Determining the type of research design The research design is a plan of action indicating the specific steps that are necessary to provide answers to those questions, and thereby achieve the research purpose that helps choose among the decision alternatives to capitalize on the market opportunity. The research design adopted for the success of this project was Exploratory Research Design..The purpose of my exploratory research is to know all unexplored variables influencing buying behavior of consumers and purchasing powersof customers and investors. Exploratory research determines wide alternatives that I would not have perceived individually.

Types of questions:The questions used in the research process is open ended and multiple choice and were phrased logically in the sequence of personal data, awareness date and usage data. The 5 point likert scale in the consumer questionnaire will determine the buying behavior and consumer perception

(C) Data collection approach:Phase-1:- Initially,I created an online survey through google drive and mailed to potential investors and place into social networking sites and also recorded responses from telesales efforts. Phase-2:- For Primary research there were different structured questionnaire for investors and consumers which was prepared keeping the research purpose of finding factors whish play key role in consumer preference and buying behavior and how does they differentiate between them. (D) Sampling Plan & Technique:A sample size of 100 randomly selected consumers were used to carry out research objective. Customers

across both genders were appropriately questioned to obtain a good representative sample. Sample size is as follows, Sl. No 1. 2. 3. Respondents Long terminvestors End users Short term investors Total number

Sampling technique: - A simple random sample technique for customersand investors were selected as its free of classification error and it requires minimum advance knowledge of the population. Data collection can be efficiently conducted on randomly distributed items, or where the cost of sampling is small enough to make efficiency less important than simplicity.

SCOPE

The report mentions about the work done during the Summer Internship Program in Delhi NCR at India Bulls real estate Limited. The report covers the work done during the internship program. The area of study of this project will be in Delhi NCR. The study will mainly concentrate on the customer perception and preference while making real estate investments. The key focus area of the study will be to assess the reason behind buying behavior of customers. The sample of customers will be around 100. The sample will include all the investors irrespective of age, sex and profession. The basic aim behind this study is to find out the key to make the brand most preferred brand by studying the need and preference of customers. Gathering the information about the various legal issues and technicalities. It gives us information about the competitors products. It helps us in finding out buying behavior of consumers by analysis of a questionnaire. It will help the company to know what consumers exactly are looking for and which promotional schemes to adopt that will help to increase their sales.

LIMITATIONS
This research is based on the opinion of the people who are being interacted. Possibilities are that they may be having sufficient knowledge and yet they have participated in the research. Analysis result will tend to differ. Many people might not take part in research study leaving the researcher with insufficient and incomplete data. People who have actual and sufficient knowledge may be neglected or ignored or it may not be possible to reach them There will be some reliability on the secondary data. The secondary data might be biased towards the writers opinions and the way he feels. This may not be giving the true picture. The final analysis may not be 100 percent accurate due to inefficient handling and processing of data/resources available at hand or lack of access to sufficient data/resources. Also there is time limit of 3 months of doing this project. Lack of proper experience on researchers part.

INTRODUCTION Indiabulls Group is one of the country's leading business houses with business interests in Power, Financial Services, Real Estate and Infrastructure. Indiabulls Group companies are listed in Indian and overseas financial markets. The Net worth of the Group is Rs 19,320 Crore and the total planned capital expenditure of the Group by 2013-14 is Rs 35,000 Crore.Indiabulls Real Estate is one of the largest real estate company in India with development projects spread across high-end office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, state of the art special economic zones and infrastructure development. It has 31 ongoing projects totaling 72.86 million square feet, 2588 acres of SEZ development and additional land bank of 1001.43 acres. Each project bears a stamp of thoughtful solutions and highest quality. The company has partnered with specialists from India and abroad working on various aspects including design, landscaping, engineering and structural strength of each of the developments. It further employs most advanced construction equipments and technologies that guarantees on time delivery like advanced jump start technology, advanced logistics and vertical transportation systems , wind tunnel engineering as also international quality construction grade steel and the highest strength M70 and M80 concrete. The company has more than 90% of its portfolio in Mumbai, Delhi (NCR) and Chennai markets with Rs. 4,000 crore of land bought through government auctions. The main focus of Indiabulls Real Estate is construction and development of properties, project management, investment advisory and construction services. Indiabulls Real Estate has delivered a record 3.3 million sq ft developed space valued at $ 1.75 billion (within 4 years of inception). This is fastest and largest delivery in value terms by any Indian real estate developer in the same time period. It has partnered with Farallon Capital Management LLC of USA to bring the first FDI into real estate in the country, is listed on the Mumbai, Luxembourg and Singapore Stock Exchange and has been assigned 'A+' rating.

PROJECT FOR SALES (DELHI NCR) ENIGMA (GURGAON) CENTRUM(GURGAON) MAPSKO CASEBELLA(GURGAON) SHUBHKAMNA TECH HOMES(NOIDA) PALM RESIDENCY(FARIDABAD)

WORK PHASE TILL DATE Learning Phase Data Gathering Phase Implementation Phase Analyzing Phase Learning Phase: About the INDIABULLS REAL ESTATE LTD Laerning technicalities of real estate Trade Price & Schemes given to clients Creating database of clients

Industry Analysis of Real estae Competitors brands & their strategy Data Gathering Phase: Daily visiting to clients and property dealers. Preparing questionnaire for retailers survey Observing competitors brand & their strategies. Implementation Phase

Telesales effort and converting calls into deals by meeting personally. Taking survey from investors Providing information to company head.

Analyzing Phase Study of competitor brands SWOT analysis Analyzing the real estate scenario through Pestel and porters model.

Plan for completion of the Project:

The following things need to be done for the completion of the project:Collection of secondary data from various sources like internet and analysis of the same. Examine and review of articles related to real estate Doing the Competitive & SWOT Analysis as proposed. Evaluate the research findings provided by the survey. Completion of the Project Findings & deciding on the Execution Strategies. Visiting more clients so as to minimize the chances of errors in the Study. To Study the factors involved in real estate investment on consumers preference.

REAL ESTATE SURVEY What are the factors which you consider while making real estate investment?

Rental Purchase Residential Sale of Home Investment What factors you consider while making real estate investment ?

Locaton Size price easy credit options features govt policies Others How did you get to know about real estate projects ?

social media Word of mouth Newspaper Online portals property dealers or consultants Others which type of buyer are you ??

end user long term investor short term investor property agent who is most reliable and reputed builder ??

DLF Ansal API VATIKA

Others Are you a cash buyer or interested in obtaining a home mortgage?

cash buyer home mortgage What is your price range for home purchase?

upto 25 lakhs 25-50 lakhs 50-80 lakhs 80-1 crore 1 -1.50 crore above 1.50 crore How much area are you seeking? could be in marlas,gajj, yards and square yards

How many bedrooms are you seeking?

1 2 3 4 above 4 What areas are you interested in Delhi NCR ? gurgaon,faridabad,noida,ghaziabad and delhi

Which type of residential property you are searching for ??

Plots Flats Studio apartments Villas Kothis Are there any questions or comments that I can address?