Narang Project

Marketing Strategy of Narang Constructions and Financiers Pvt.
Ltd
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EXECUTIVE SUMMARY
GITARATTAN INTERNATIONAL BUSINESS SCHOOL
Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd
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EXECUTIVE SUMMARY
Real estate has proved to be a real engine of growth. The real estate sector in India is emerging as the next engine of economic growth going by the fact that it is the second largest employer next only to agriculture. It has significant linkages with several other sectors and over 250 associated industries. According to estimates, every rupee invested in this sector results in 78 paisa being added to the GDP. Accordingly, a unit increase in expenditure has a multiplier effect and the capacity to generate income is as high as five times. For instance, if the economy grows at the rate of 10%, the sector has the capacity to grow at 14% and generate 3.2 million new jobs over a decade. The sector size is close to $12bn and grows at 30% per annum. Presently, it is contributing 5% of the country's GDP and is expected to rise up to 6% within three to four years. The present project has been carried out with the objective of analyzing the Marketing Strategy of Narang Constructions & Financiers Pvt. Ltd on transit of people from Delhi to NCR (Sonepat). To achieve this objective, study was conducted on various first pull factors that Effect Buyers while investing into a property the main factors are Location, Affordability, Brand name and Advertisement. There are various other factors like External factors which include Price Range, Connectivity to public transport, Proximity to work place and In Locality Factors include Peaceful Locality, Pollution Free environment, Population/occupancy.
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CHAPTER 1: INTRODUCTION
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1.1 INTRODUCTION TO THE INDUSTRY

REAL ESTATE:
The term real estate is defined as land, including the air above it and the group below it, and any building or structure on it is also referred to as realty. It covers residential housing, commercial offices, and trading spaces such as theater, hotels, and restaurant retail outlets, industrial buildings such as factories and government buildings. Real estate involves the purchase, sale and development of land, residential and nonresidential buildings. The main players in the real estate market are the landlords, developers, builders, real estate agents, tenants, buyers etc. The activities of the real estate sector encompass the housing and construction sectors also. The real estate sector in India has assumed growing importance with the liberalization of the economy. The consequent increase in business opportunities and migration of the labor force has, in turn, increased the demand for commercial and housing space, especially rental housing. Developments in the real estate sector are being influenced by the developments in the retail, hospitality and entertainment (e.g.: Hotels, resorts, cinema theater) industries, economies services and information technology (IT) enabled services etc. The real estate sector is a major employment driver, being the second largest employer next only to agriculture. This is because of the chain of backward and forward linkage that the sector has with the other sectors of economy, especially with the housing, construction and commercial sector. About 250 ancillary industries such as cement, steel, brick, timber, building material etc are dependent on the real estate industry.
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REAL ESTATE IS A GROWING SECTOR IN INDIA

Real estate in India will continue to rock. Profound economic suggest that the realty sector would grow at 30% per annum to reach to $45 to 50 billion by 2010 from the existing $12 billion. To achieve this growth real estate in India would require huge investments over the next five years. By 2015 it is projected that the market size would grow to $ 90 billion. Estimated suggest that the urban housing sector would require investments to the tune of $25 billion (Rs 1.10 lakh crore) over the next five years. Prices have remained buoyant as new construction lags. According to surveys there is a shortage of 19.4 million units (12.7 million units in rural areas and 6.7 million units in urban areas) in the country about three years ago, which will require real estate in India. Real estate in India will trigger economic growth infrastructure development and enabling government policies would help trigger growth. Real estate in India will help high economic growth has fuelled the demand for real estate. Cities continue to attract interest from IT and ITES companies that are either establishing a base or are looking to expand which will give rise to real estate developer in India. It is the suburban locations that are witnessing development activity due to easier availability of land construction of large floor plate and offer of built to suit facilities thus helping housing construction company in India. According to one estimate the IT and ITES sector are creating 200,000 jobs per annum which itself will create a demand in commercial space of 15 million square feet. Besides it will generate a huge demand for residential flats. So more need for luxury residential apartments in India.
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Real estate in India assumes that 25 % of the work force joining the IT/ITES sector required independent housing there would be demand for 50 million sq ft of residential accommodation every year to meet the need of the workforce joining the IT/ITES sector alone. The demand has been aided by the ease in documentation and formality of property registration in India. It leads to boost property developer in India. The Indian realty sector would see unchanged interest from N R Is aided by the relaxation in FDI norms in real estate. The government has also helped by permitting banks to advance home loans to N R Is. The report acknowledges that the government had also played a pivotal role in the development of this sector .It had aided the sector by giving income tax benefits to consumer and benefits to developers. It initiated the rationalization of stamp duty and repealed the Urban Land Ceiling Act in 9 states. A number of state governments are moving towards computerization of land records. Real estate in India has a bright future .The report also pointed out certain issues, which need to be addressed by the government to ensure rapid growth. Some of the issues are absence of large listed companies in these sectors, which has affected fund flow. Foreign still cannot buy or sell undeveloped land, and reassessment of the legal aspect to stamp duty and rent control. At last, changing demographics, low interest rate regime, rising disposable income, and fiscal incentives have provided huge demand for housing. Further nuclearization of Indian families has accelerate the demand for mortgages and for fresh housing thus give rise to more real estate developer in India. Political reforms in relation to real estate: The government is quite rational when it comes to infrastructure and development in the country as it is required to achieve and maintain a growth rate for the economy. The real estate sector being directly related to it, is being given due importance. The government has made suitable amendments in the FDI regulations, taxation structures and various land acts in order to attract more foreign investment into the country.
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Economic factors: The lower interest rates and ease of credit availability is fueling the demand for real estate in the country. This scenario coupled with the huge potential for consumer credit penetration in India is favoring the real estate sector. Demographic factors: Demographic factors like increasing literacy rates, higher disposable incomes, and increasing urbanization in the country are important factors propelling the demand for real estate in the country. The above factors are going to generate huge demand for residential space, which comprises 80% of the total real estate demand in the country.
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PRESENT SCENARIO OF REAL ESTATE IN INDIA

The real sector in India today witnesses a wide spectrum of changes that slowly but surely is expected to make India in to a preferred destination for real estate activity. The real estate market in India is opening up. There are still some barriers to real estate development like unclear titles, tenancy reforms and low property taxes. Two major steps taken by the Government will however be key catalyst in fueling growth in real estate sector in INDIA. Now with reputed builders like DL, ANSAL API etc and international property consultants joining the fray, this image has strengthened and evolves into a professional corporate image. Recent moves to allow 100% Foreign Direct Investment in India. FDI would be in integrated township which would include housing, commercial premises, hotels and resorts, while the urban infrastructure would comprise roads and bridges mass rapid transit system and manufacture of building material. The minimum average that can be developed is 100 acres designed keeping into consideration the local byelaws and regulations. FDI is not allowed in retail sector. Currently, real estate prices have stabilizes to a great deal as a role played by speculation has started declining. There a lot of change being introduce in the Indian real estate sector especially with the cheap labor, pool of people. Other major event is the introduction of real Estate Investment Trust (REIT). Currently mutual fund are not allowed to have direct exposure in real estate but can make debt and equity investment in the company. The Indian version of REIT-REIS (Real estate investment scheme) would enable investment by small investors in the real estate sector and thus earn dividends on the rental income being paid. The fiscal incentives introduce by government introduce 3 years ago have unleashed the market
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forces. The credit of housing has gone up and interest rates have come down to 8-9% average.
With fiscal incentives and factoring inflation the real interest rates on housing loans is very less. This has brought in a sea change in the profile of the home purchaser across the spectrum. The average age of the home buying customer has been drastically reduced. It has been found that young working people in early and mid 20 also buying residential flats. The other major changes witnesses in the real estate industry currently are the reorganization of country status itself. The Government of India has made it mandatory that 3% of the incremental deposits of the banks would be deployed to the housing industry. Today real estate office market is booming IT AND ITE s segment. With lower operating costs being the driver office property have moved from Central Business Districts to suburbs to Class I cities and this market is continue to expand in Tier II and tier III cities. Real estate sector is still facing the main problem of high stamp duty in Indian states. These range in most Indian cities between 10% to 15% Some states even have double stamp incidence first on land and then on its developments even National Housing and Habitat Policy 1998 recommend stamp duty of 2-3%. Its needed to be reduced by taking the recommendation into consideration which is mentioned in the report otherwise this increasing rates of stamp duty and land cost will give rise to parallel economy which lead to huge loss of government revenue.
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FUTURE SCENARIO OF REAL ESTATE IN INDIA

In future the real estate sector will be in very good shape as the demand for both residential and non-residential property is increasing and in future more houses need to be developed in urban and rural areas as census of 2001 indicates that urbanization rate of 27.78% is expected to go up to 41%(550 million) in the next 20 years (population of 1350 million by 2021).However, Indian government Habitat Policy(NHHP) envisages that by the year 2012 the housing shortage should be removed and everybody should have a house of his own and to meet this target the estimated investment involved is approximately Rs 400000 crore or say US $800 billion by 2012. In future the demand for real estate will likely to touch around1055 million sq ft by 2015 and by this date capital requirement will have bloated to $68 billion and market will require $ 30-40 billion more in future with most companies tying up their expansion plan. The C&W says urban India alone require 12 million housing units with scope of 400 townships in 5 years across 30-35 cities each with 5 lakh population and Indian has potential to grow to those levels as FDI flows into more land intensive sector like retail and manufacturing as there is a shortage of 20 million housing units till 2010.Cushman&Wakefield says smaller towns like Patna, Surat, Lukhnow, Coimbatore, Vijayawada etc have immense potential in commercial and residential sector and by 2015 there will be 45 such cities from 25 odd cities. The US alone committed $ 2 billion for Indian real estate over next 18-30 months. In real estate sector 23 million sq ft of new space came in to market with additional 50 million sq ft expected by 2012.
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AMAZING BOOM IN COMMERCIAL SECTOR:
Future of commercial sector is boom. There is a great demand for office building in India. The demand for new office space alone has grown from estimated 3.9 million sq ft in 1988 to over 16 million sq ft in 2004-5.Cumulative demand for office space in India between 2005-2008 is estimated to be in excess of 85 million sq ft. This represent annual growth rate of 14.5% over the next 3 years or approx.20 million sq ft/year and approx 80% of demand is created by IT AND BPO sector. ITES & BPO segment register a growth of 54%. NASSCOM & Mckinsey study has predicted that I T Es sector in India will provide additional job for over 1.1 million people by 2008, which translate into space requirement of approx.100 million sq ft. Retail is considered the world largest private industry with total sales of over US $ 6.6 trillion with close to 12 million outlets. India has the largest retail density in the world .It is estimated that presently additional 46 million square feet for malls, multiplex is being added in India out of which 32 million sq ft is spread over across 7 major cities. In future 45 malls with over 9.5 million sq ft of retail real estate is expected to come up in Tier II cities like Jaipur, Chandigarh, Ludhiana, Nagpur, Baroda, Kochi etc by end of 2007. It is expected that government will soon permit FDI in retail and this would further increase the demand for shopping malls, multiplex etc. However opening up of FDI in retail trading will not necessarily cause rent to rise as their demand will be offset by additional stock.
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Spiraling land prices (sign of overheating and excessive speculation): The land prices have really shot up in the last 2-3 years. Builders continue to get enough buyers for whatever absurd prices they quote. Now, that is a very strange thing when seen in the Indian market perspective. India is a very price-sensitive market. Whatever you sell you have to give the consumer a good value for money. So, when such people make a beeline for things priced exorbitantly, there may be large amounts of speculative investment money entering the market. Also, people now assume that property prices moving up is a sure thing. There is nothing called a sure thing in investing and this is a sign of overheating. Uneven price growth: Prices of real estate across the country, or even within cities, will have their own unique demand and supply factors. This needs to be understood in detail. A number of transactions and also corporate land bank values are ignoring this basic tenet of real estate investing. Questioning the capability to deliver: Although there have been huge plans of development in all the areas of real estate development whether residential, commercial, office, retail or SEZ, various questions have been raised on the execution capability of the developers in delivering the promised product within the specified time period. Oversupply: With the real estate story getting big in India, major plans are afoot for various types of real estate developments in big cities and small towns. There have been concerns of an oversupply situation arising 2-3 years from now. Still unorganized: India's property market remains unorganized and underdeveloped. This creates risk for investors. In the absence of a clear title to property, the risk of litigation is high. For those foreigners who invest in India via real estate investment trusts, there are no rules on the marking of their stakes to market or on whether they must pay stamp duty on transactions.
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Relation to the stock market: The true origin of this bubble-like situation may be traced to the stock market boom. The Indian stock market has been witnessing a nonstop bull run for an unusually long time. During the last couple of years, share prices have surpassed all expectations. The present situation can be compared to Japan's real estate crash in 1991. Prior to the crash, both the stock market and the property market were on fire. Profits from the stock markets used to be transferred to the property market and vice versa. The same thing is happening in India as well.
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MAJOR PLAYERS OF REAL ESTATE MARKET IN DELHI

UNITECH LIMITED
Unitech is the largest listed real estate company in India with a market capitalization of over US$5bn. It operates in India and exports engineered construction products to the Middle East. Unitech was among the first players to enter organized infrastructure development. Unitech works closely with various state governments to develop SEZs across the country. New Kolkata International development project is one of the largest infrastructure development project undertaken in the country. Unitech has tied up with International Amusement to create "E-city" in Noida. Its business strategy is to build a Pan-India presence while maintaining a leadership position in each city of India. DLF UNIVERSAL LIMITED DLF is a leading player in Indian real estate industry with six decades of experience. Since its establishment in 1946, it has developed 21 urban colonies aggregating 5,816 acres, as well as an entire integrated 3,000-acre township which is popular as DLF City. Future projects include development of 100,000 acres over the next few years and it aims to become the single largest real estate company in the country. ANSAL PROPERTIES & INFRASTRUCTURE LIMITED Ansal Properties & Infrastructure Limited (APIL), one of the major players in real estate industry, is promoted by the Delhi-based Ansal Group engaged in civil construction and real estate development in India and overseas.
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In March 2006, APIL tied up with Malaysia-based facilities management company Faber Group Berhad in a joint venture to foray into healthcare facilities management. HDFC realty bought 33% of Ansal SPV. APIL has big plans to invest Rs.30,000 cr in the next 3-4 years to build 16 townships. As the focus on infrastructure development by the government has been strengthening, growth prospects of Indian real estate sector looks bright. A study by housing development finance reveals that India is short of 20 million housing units. Deutsche Bank researchers forecast that by 2030 India will need up to 10 million new housing units per year. Another driving factor for the industry is SEZs, which come with tax exemptions like 10-year corporate tax holiday. Besides this, the fifth most attractive market in the world, the retail market of India, has also been contributing significantly on a large scale for the growth of the sector. Leading national and global players have big plans to invest in the infrastructure and construction of the retailing business. All these positive signals indicate that there is huge growth potential for the real estate industry. Joint ventures and consolidations will become the order of the day in realty space. However, there are challenges like fragmented industry with less transparency and high transaction costs. The condition can be improved with the increase in the professionalism of the industry and flow of organized money into the sector. Given its huge growth potential, real estate can be vindicated as the best investment avenue for long-term investors.
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Overall assessment about the Real Estate industry in India

Real estate sector is a major contributor to GDP (Gross domestic product of India), over the last decade, the average household income in urban areas has grown at a CAGR of 5%. According to estimates, 80% of the real estate developed in India is residential space and the remaining 20% comprises of offices, shopping malls, restaurants and hospitals. According to the 10th Five Year Plan, there will be a shortage of 22.7 million housing units by the year 2007. The changing lifestyles of Indians and better incomes have led to the development of retail and hyper malls. This, in turn, has led to the demand for space from the retail sector. Real estate has proved to be a real engine of growth The real estate sector in India is emerging as the next engine of economic growth going by the fact that it is the second largest employer next only to agriculture. It has significant linkages with several other sectors and over 250 associated industries. According to estimates, every rupee invested in this sector results in 78 paisa being added to the GDP. Accordingly, a unit increase in expenditure has a multiplier effect and the capacity to generate income is as high as five times. For instance, if the economy grows at the rate of 10%, the sector has the capacity to grow at 14% and generate 3.2 million new jobs over a decade. The sector size is close to $12 bn and grows at 30% per annum. Presently, it is contributing 5% of the country's GDP and is expected to rise up to 6% within three to four years. Along with the residential property, the sector has also witnessed a spurt in demand in commercial property mainly driven by fast-growing IT and ITES services along with BPO boom. According to estimates, 42 million sq. ft. of space will be required every year till 2010 only in these services in cities like Delhi, Bangalore, Chennai, Hyderabad and Pune. As the cost of land in leading metros is skyrocketing, developers are getting interested in developing townships in Tier II cities and industrial towns where the growth of real estate is relatively slow. It is expected that in the very near future, even these cities will witness abnormal prices.
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THE KEY DRIVERS IDENTIFIED BEHIND THIS GROWTH ARE-IN CASE OF RESIDENTIAL PROPERTY:
Higher affordability (higher salaries, easy credit); tax benefits to borrowers; existing shortages; social structural changes in urbanized areas (splitting of joint families). In case of Commercial: IT/ITES sector expansion, the local consumption story leading to higher growth in corporate earnings; order books full; corporates expanding, multinationals entering India to service huge middle class. In Retail sector: Getting organized (3% of retail is organized as against 17% in China); foreign brands and local brands seeking visibility, new formats being developed; disposable incomes rising; younger population earning and spending well. In terms of infrastructure Indian real estate sector is relatively poor to global standards: If we compare Indian real estate sector with the global real estate industry, we fare very poorly in terms of our infrastructure. While in the US, no matter where you go, you have access to high quality infrastructure (drinking water, well-planned roads, greenery, power, communications, healthcare, education, etc.), here in India, even our signature cities are crumbling. We have not been able to create alternate cities in the manner that is required so as to release the pressure on the few that we have. Until new towns/cities come up, the few existing ones will continue to provide sub-standard quality of living and at very high prices. Another sharp contrast is in the sphere of public housing. While more than 50% of Mumbai lives in slums, most of Singapore lives in (subsidized) mass housing provided by the government.
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Whether this boom will sustain or not, the answer could be both a yes and a no. Yes, because of the above mentioned positive drivers. No, because a lot of factors/events can spoil the party; such as, an increase in interest rates globally and locally, a political directive (overseas) to reduce outsourcing to India, the emergence of China as an alternate outsourcing hub, a major terrorist attack, the policies of the government with respect to land and real estate supply, property prices becoming unaffordable, etc.Already in some locations it appears that the cost of land is way too high in comparison to the finished product, and there is a price limit beyond which resistance can set in. Therefore, there is a risk of having unsold inventory at a high cost. In some sectors, there is a re-emergence of the investor in large proportions. Hence, when the stock comes in the market for absorption in large volumes, will there be actual users to absorb it? That is still to be seen. On the retail front as a whole, though we (as a country) have barely scratched the surface of organized retail, I feel that in some locations there is an excess supply of mall space coming up. With terribly poor efficiencies and very high running costs, not to mention a complete lack of differentiation, its a matter of time before these malls will come back in the market to be repositioned. Today, there is a feeling of success seeing footfalls by the thousands, which reminds me of the internet days eyeballsplenty of visitors, poor conversion into shoppers.
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BUYERS PERSPECTIVE:
1. Quality of Construction Obviously when one buys a property he makes sure that the quality of construction is good. Everyone while buying a new product wants to buy quality stuff. Same applies to the property. Every buyer wants to buy a well built house. 2. Pollution Free Environment The immediate surroundings of the property is always evaluated by the buyer. These days developers give due importance in making the surroundings beautiful with innovative and creative landscaping. They involve landscape architects from different corners of the world to give their customers the best. The NCR is becoming more and more popular among home buyers because of its greenery and pollution-free environment. 3. Water Availability Water Availability, power backup and safety and security are some very important factors which people do consider while purchasing the property. All these factors are hugely responsible for the transition of people from Delhi to housing complexes in NCR as many colonies of Delhi faces problem of shortage of water and power failure while availability of these essential facilities are ensured in housing complexes by the respective developers. 4. Occupancy - Due to increasing crime this factor is becoming more and more important for the buyers. They dont want to settle down in such a place where hardly anyone else lives. People prefer to stay in a reasonably well-occupied housing complex. But its also true that people dont prefer to stay in highly populated areas as it was observed in the case of Shipra Sun City, Ghaziabad where 5000 families living in one single housing complex fight for space and car parking place.
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5. Suitability of Home Type Nowadays due to the wide range of options available people can afford to be choosy. Now they dont need to compromise on anything. They dont buy a property till the time all of the essential things match their requirements. Developers do pay attention to the different requirements of different customers. Some want a flat on the second floor while some want a flat with two bedrooms. All these requirements are tried to be met by the developers. 6. Sport Complex / Recreational Facilities All work and no play makes Jack a dull boy. People have started believing in this concept. Now each parent wants that within the complex his/her kids get all kind of sports to play. Even adults want different recreational facilities to be available in the housing complex, which may help them in eliminating work stress.
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DEVELOPERS PERSPECTIVE:
1. The major external factors which people consider while purchasing the property are Price, Availability of loan and Proximity to workplace. 2. The major In-Locality factors which people consider while purchasing the property are Quality of construction, Availability of water and Pollution-free environment
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GLOBAL SCENARIO IN REAL ESTATE INDUSTRY

Real estate industry in developed countries has been mature while it has been a growing market with huge potential in developing countries like India. Anuj Puri , Managing Director of Trammell Crow Meghraj Private Limited opines: "Globally, these funds are very popular, especially in developed economies such as the US, Australia, and Japan. They have given excellent risk-adjusted returns. As per NAREIT, the five-year compounded annual growth rate (CAGR) on such funds is 12.1%. In Japan, this is 15.5%. This compares well with equity mutual funds. For real estate, the risk is lower than equity." Real Estate Investments Trusts (REITs) in the US are the trusts established by wealthy promoters who usually invest in shopping malls, office spaces, commercial complexes, hotels, and warehouses. The origin of REITs dates back to 1960 and has gained popularity over a period of time. These trusts make profits either by rental income or by capital gains resulting from sale of property. To be qualified as an REIT, the company is liable to distribute 90% of its income to the shareholders. This will in turn help the company to get exemption from taxation. Based on the source of income, REITs are categorized as equity REITS, which earn by owning and renting the properties; Mortgage REITS, which earn by way of loans; and Hybrid REITS, which earn by both the means. REITs offer ample liquidity to the investors as REITs shares are usually listed on the major stock exchanges.
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REAL ESTATE DELHI AS THE TARGET MARKET

Delhi is now more or less saturated and the high demand for residential properties has increased rates beyond the reach of middle class. As a result, the suburban towns within the NCR; Gurgaon, Noida, Faridabad ,Ghaziabad and Sonepat have become destinations for new residential projects that offer affordable quality housing to the middle class as well as luxury housing for high end users. As these suburbs are now increasingly generating employment, they will decide the future growth pattern of the NCR. The business and trader class still largely dominate old residential areas in west and Northwest Delhi. Similarly the large multi-storey societies in East Delhi in Mayur vihar and Patparganj have found preference with the service class. The blue-collar segment remains limited to apartments and society developments while big and small traders occupy the whole of West Delhi, including Rohini. The elite class, in terms of social status, i.e. politicians, bureaucrats and celebrities, restrict themselves to central and South Delhi. Suburban areas like Noida and Gurgaon have developed as alternative housing solutions and are inhabited mostly by professional and service class people, as well as an increasing upper middle class segment. Gurgaon offers a good quality of living with many high-end residential projects by private developers. These new developments offer uninterrupted power supply, community and health care centers along with facilities like a swimming pool, clubhouse and other services. As per industry estimates, projects with approximately 5000 dwelling units have been announced in Gurgaon. Since it will be maturing as an independent city, occupancies will improve but in the present context, it is an oversupply situation.
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Noida has experienced rising prices in its existing commercial, retail and residential real estate. The new developing residential sectors are along the Greater Noida expressway. Occupancies in Noida are good and prices are looking northward. It is a good destination for the middle class, as far as accessibility, social and physical infrastructure and growth perspective are concerned.
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1.2 INTRODUCTION TO THE COMPANY

We are a Group of Young, Enthusiastic, Focused and highly motivated Professionals, having good hands of experience in construction group housing. Narang Constructions & Financiers Pvt. Ltd. was incorporated in year 1987, with a clear vision to be the top most housing and construction company in the city. As a result of it's initiative NCF transformed itself in to high performance strategic business unit. The entire team of NCF is committed to deliver quality at par with the best in the industry maintaining the most exacting standards and offering a complete peace of mind & Luxurious Life style. At NCF, We strongly believe in Quality and Customer delight. We also understand that "TIME IS MONEY". We are particularly conscious of meeting all our deadlines well in time. Excellence in our trademark, superlative is not just an idea. We transform the creative ideas of our customers into reality. At NCF, we maintain a perfect balance between Imagination, Elevation, and Layout & Construction. By having a state-of-the-art facilities and equipments along with high caliber skilled work force NCF has been able to live up to the expectations of all our customers till date during and even after completion of all our previous projects. We also aim high to maintain the same level of comfort in future too. Now the entire team of NCF feel proud to announce and present you an other exciting and most advance housing project at Kundli. Narang Constructions & Financiers Pvt. Ltd. is an ISO 9001:2000 certified by JAS-ANZ.
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M/S. NARANG CONSTRUCTIONS & FINANCIERS PVT. LTD Incorporated with the Registrar of Companies, NCT Delhi & Haryana vide Registration No.5529460 with the main object of real estate developers, promoters, infrastructure developers financers. The company is having its office at Pitam Pura. The company is having seven directors namely Mr. S.C.Narang , Mr. Raj Pal Narang, Mrs. Sumitra Narang, Mrs. Asha Narang, Mr. Arun Rathi, Mr. Jugal Kishore Gupta and Mr. Jawahar Lal Goyal. The management of the company has decided to develop a group housing project in the NCR area of Kundli. The company has already acquired land measuring 11.437 acres in the Kundli and develop and construct a group housing project at the proposed site. The land is duly got registered in the name of company and payment for the purchase has already been made. The LOI has already been received from Govt. of Haryana Kundli is having all infrastructural facilities. The site is ideal as Kundli is situated at NH-1 which is also nearest to Delhi. KundliSonepat is going to become a hub for education and the centre Govt. "recently announced to establish a 11M at Sonepat. Govt. has establish a education area of 2500 acres which will be available for national as well international universities and other educational institutions. The area is already attracted well known builders and developers which are developing the area very fast. The company is already in the business of construction and development of Malls and developed and sold out two malls in Delhi.
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CHAPTER 2: THEORETICAL FRAMEWORK
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THEORETICAL FRAMEWORK
We can say that a real estate venture is successful when its marketing strategy is made carefully before launch. This experience came with the over of years in Real Estate Industry associated with various ventures at different level in different companies in different locations all over India. Generally many real estate development companies think the role of marketing professional comes only at the time of launch of the project. But, if we involve marketing professional in the budding stage of a venture, for certain and sure the venture will be a success. Before framing a perfect marketing strategy we need to look the following factors: 1. Land: Before acquiring the land, we need to decide what type of venture we are going to come up with. Whether its an Integrated Township, Group Housing, Affordable Housing, etc. The product mix and amenities largely depend on the city/town, the locality, the average income, future/past/present development, the profession of majority of the people in the particular city/town, the competitors product mix and amenities, etc. Keeping the aforesaid points in mind, when we acquire a land parcel, the main question in many of the builders is whats next? 2. The Survey: Next most important factor in success of real estate industry is the marketing survey. If the survey is perfect then the project is success. In survey, we need the nearby competitors price, product mix, amenities etc. Then we decide what extra we can offer to a customer in a cost effective manner. This is to have a slogan We are Different. The next crucial point that is the Pricing. which I am going to discuss is the most
3. The Pricing: The price is a major factor in deciding whether the project is a success or not. Usually in India, many builders keep the price matching the competitors price, +/- depending on amenities/largeness of the township/the
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company brand name etc. The never consult a PMC (Project Management Consultancy) to know the construction cost per sq.ft., never consult marketing department to calculate the marketing cost, never calculate the administration cost never calculate the land cost, and all other cost incurred in making a township and which impact on the per sq.ft (Square feet) price. A successful pricing strategy is to collect all the aforesaid data to find out the actual cost of construction per sq.ft. Once, we get the construction cost per Sq.ft, then add the profit margin which we decide to have on per Sq.ft. For example: The actual construction cost including all other cost is Rs. 3500/- per Sq.ft. + profit margin of 30% or 40% as decided by the company keeping in mind the competitors price and the amenities we provide. Once these exercise is done by the company, the next question arise is how to market it? 4. The Marketing Strategy: We should always remember that real estate is Not a push product, its a pull product. You cant send an executive area wise for a real estate campaign like FMCG or Consumer Durable Goods. Since its a pull product, our branding exercise should be carefully planned and executed. In general the marketing budget for well-known branded company in India is in between 5 to 6% of the total project cost. On the other hand a new comer or a FDI company, their marketing budget can vary between 7 to 8% of the total project cost. If the company is new in real estate, an additional advertisement cost on Company Branding also incurred apart from Project Branding. There are various methods of doing a marketing campaign for a real estate project. Its again depend on how big is your project. These are few commonly accepted methods of advertising a real estate venture, viz. Press Conferences, News Paper advertisement, Soft launch, etc. Before the actual launch of the project, most of the company do a soft launch or pre-launch where in guests, friends & relatives of the employees and management and very few potential customers are invited. The objective of soft launch or preHoardings, Direct Mailers, Sales Promotional activities, Organizing a get-together among well-known real estate Brokers/Agents, Doing a
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launch is to test the pulse of the customers towards the price we kept, the amenities we provide, and the overall opinion about our township. Also, to know the placement of our township in the locality with regards to our competitors. The general practice and most acceptable practice is to keep the per square feet price less in the soft launch. By doing so, we see the acceptance to our price in the market. Based on the response from the customers we can gradually increase the price on a Phase wise manner. By pricing this way, a positive aura is created in the market regarding the appreciation of the property which encourages the customers to invest in our property. 5. The Marketing Team: The Marketing Team consists of three departments: a. Marketing Department b. The Sales Department c. The Customer Care/the Customer Support Department. The overall success of a venture also depends on the Marketing team. In real estate a satisfied customer is an executive of the company. Referral marketing is one of the best ways to let others know about your real estate services. Perhaps the best thing about referral marketing is that you dont have to pay any money. There is not much work involved with referral marketing and even the majority of that work is done by clients. People naturally want to spread the word when they have received a good service. This word of mouth is known as referral marketing. When your clients have a positive experience with you, they naturally want to tell others about it. The more people who are informed about your excellent services, the more clients you will have. The more clients you have the more money you will make. Whats good about referral marketing is that you get money for making money.
The large part of your real estate businesss referral marketing strategy will come from the way you operate your business. The other part is developing an awareness of your referral marketing tactics. Your clients have to know that you want them to refer you to others. Otherwise, you cant rely on them to do so. If you have already been
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informing your clients that you would like them to refer you to others, then you can relax, this part of your work has been completed. On the other hand, if you made the assumption that your clients will naturally refer others to your business then you have some work to do. Assuming you havent informed any clients of your referral marketing strategy, you now need to determine that this will be a part of your business practices. Each customer that you deal with from now on should know, in some form or another, that you would like for him to refer you to another client. You might consider offering some kind of discount for each referral. Many real estate businesses offer such incentives. Apart of creating awareness of your referral marketing strategy, you need to resolve to a always operate in a manner that will give clients a reason to refer others to you. If a client does not have a positive experience with you, chances are that the client will tell someone of his bad experience. This will counter your referral marketing efforts. All it takes is one bad apple. Be aware of your actions at all times. If there are several facets to your business make sure that each client knows of these services as well. There may be times when a client only receives one of the services that you provide. This same client might know someone who is in need of another service that you provide but does know to refer the person to you. When this happens, your referral marketing has failed. Your referral marketing strategy must include informing clients of all the services you provide. By doing this you are ensuring that referral marketing works best for you. Developing a referral marketing strategy is not difficult to do. The two major aspects of referral marketing include letting clients know to refer you to others and giving them a reason to refer you. Once you have done both of these things, your referral marketing efforts will bring in new clients for your services.
Sales Process: Front Desk 1. Greeting the Customer ( Wishing & may I help u) 2. Visitors book ( Name, Profile, phone) 3. Enquiring about the availability of customers time
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4. Basic Brochure 5. Brief info (Company Profile, Project Details, Basic Info of the Township & Amenities, Price Range) 6. Accompany the customer to the Audio Visual Room 7. Inform the Sales Team 8. Handling phone calls Audio Visual Room 1. Virtual tour of the project 2. Introduction about the company & the project 3. Developing & developed stages 4. The tour moves from the main entrance through the roads, landscape, club house, recreational facilities, units elevation interiors & Surroundings. Layout model 1. Layout briefing 2. Handling the customer quires about the locations like club House, parks, Swimming pools, etc. Display Area 1. While the customer is viewing the display, the Sales person introduces & interfaces 2. Enquiries about the availability of customer time. 3. If the customer is interested to see the show unit then the show unit visit is arranged otherwise a discussion with the customers depending on his time. Show unit 1. The customer is driven to the show unit 2. Each show unit is explained by show unit guides. 3. Customer is back to the front desk.
Detailed Discussion 1. The sales person meets the customer. 2. Detailed Brochure 3. Features 4. Layout & Specifications
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5. Amenities 6. Availability 7. Pricing 8. Loan & Payment Procedure.
Plot Visit 1. Serious buyers accompanied by the sales person to the interested Plots. 2. Explaining about advantage of the Plot. 3. Approach Roads 4. Explaining about Vasthu of the particular Plot, Villa, Bungalow or Flat. Blocking 1. Some Serious buyers may not be carrying the cheques 2. Blocking the specific Unit for 2 days. Booking 1. Buyer meets the Sales Person. 2. Customer support person is introduced to the buyer. 3. Booking Kit is given to the customer. 4. Booking Kit includes Receipt and payment Plan & Allotment Letter. Customer Support Process Payment Process 1. Earning capacity of the customer 2. Mode of Payment 3. Explaining our payment schedule 4. Loan Procedure 5. Explaining about Deviation amount 6. Briefing about Registration Charges. 7. Briefing about facility charges like car parking, water electricity etc. 8. Briefing about maintenance charges & Corpus fund. Agreements 1. Agreement of Sale involving Land owner, Developer & Customer. 2. Tripartite Agreement involving Developer, Customer and Banker. 3. Rules & Regulation of the town ship 4. Payment schedule
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5. Exact location of the unit 6. The Agreement of sale is use for applying loan and personal payment 7. Agreement kit is given to the customer. 8. Agreement kit includes the Agreement, Receipt.
Margin Money & Deviation Amount 1. Margin money is the differential amount between total unit cost and loan sanctioned. 2. Margin money is collected before loan disbursement. 3. Deviation is the internal modification required by the customer 4. Deviation is specific internal modification offered by the developer. 5. The customer bring his own material 6. Calculation & collection of deviation amount in advance. 7. Based on standard parameters of the company the deviation will be undertaken. Registration 1. Registration is done once the total flat cost along with other charges if any is paid to the company. Stage of progress 1. Customer support will inform details on stage of progress to the customer at regular intervals. 2. Progress details about the overall development, specific units, floors and blocks will be received from the technical team at regular intervals. Collection of Regular Instalments 1. Based upon the payment schedule for personal payment 2. Depending upon the stage of progress in case of Loan. 3. Coordination with Financial Institutions. 4. Payment Reminders depending upon progress. 5. Calculations of Interest on delayed payments. Handling Customer Queries 1. Progress 2. Payment 3. Deviation 4. Loan
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5. Agreement of Sale 6. Tripartite agreement 7. Documentation 8. Registration 9. Rules & Regulations of the township. 10. Hand Over. Hand Over 1. Personal visit by the customer support to ensure the quality of the unit before hand Over 2. Customer visit along with customer support. 3. Customer satisfaction letter is collected from the customer 4. Settlement of accounts if any. 5. Information regarding the Rules & Regulations and maintenance. 6. Getting a no objection certificate from the accounts department. 7. Hand over letter and the keys by the customer support to the customer.
REAL ESTATE MARKET

Construction sector has been the focus sector for some time as its impact on the economy is big by virtue of its being a huge employment generator. The real estate market is booming. Its growing at around 12% per annum. Today its boom time in the real estate market and homebuyers couldnt have asked for a better opportunity to buy a home. Indian developers are now not talking of anything
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less than world class. Infrastructure and economic development of some cities as well as the housing shortages are driving the boom. There is a fundamental change in the approach of the buyer, developer and the government. They all are seeking quality development. The middle class demands the best that money can buy. With the competition in the market, developers have to deliver the best within specified time frames and the government, discharged from the duty of construction has to keep everyones interest at heart. The Major reasons for boom in the real estate market are:
EASY AVAILABILITY OF LOAN AND LOWER INTEREST RATE

There is easy access to loans. The housing finance has posted a growth of 29 percent in the last fiscal, touching 53,685 crores. Further, interest rates on housing loans have come down and are much lower, between seven to eight percent as compared to 13-14 percent five years ago.
AFFORDABILITY
Another major reason for boom is that housing in India has become more affordable in recent times. A decade ago, a house cost nearly 15-20 times an individuals annual salary. Today the cost of a house has come down to just about three to four times an individuals annual pay package.
INCREASE IN NUMBER OF NUCLEAR FAMILIES

In the past, owing a home was a dream realized only after retirement. Largely because people looked at it as a means of providing for their children, having themselves lived in a joint family setup. Joint families are progressively getting included in the pages of history book even in a country like ours. Not surprisingly the rise in the number of nuclear families is pushing demand for housing further to cater to a generation that is
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not averse to taking risks. Nor are they hesitant when it comes to paying a price to realize their dreams
INVESTMENT OPTION
Competitive offers by home loan companies combined with good quality projects developed by reputed builders having a number of amenities have made investing in properties very attractive Wherever there is growth and opportunity, investors are bound to be around and traditionally real estate has been a safe investment option. Property is looked upon by many as an investment option that appreciates substantially when compared to other traditional tools of investment.
MIGRATION OF INDUSTRIES
Another major reason for boom in the real market is the migration of industries to smaller towns leading to rural progress. With villages turning into towns and towns becoming metros, the property market is growing steadily. This revolution has directly resulted in greater demand for not just housing but also for the overall real estate market with heightened demand for better infrastructure, transportation facilities, entertainment zones, shopping malls, multiplexes and more.
FACTORS AND PARAMETERS FACTORS:

Brand name Brand name is something that immediately comes into your
1.
mind when you think of any product. Even in case of purchase of property, brand
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name plays a major role. Many people to prefer buy the property developed by well-known and reliable developers. Moreover properties developed by established developers help buyers in getting the best returns, as these properties can be sold any time at a premium.Theoratical framework
2.
Advertisements Its an old belief that advertisement can sell literally
anything. In order to ascertain whether its true for property or not, it was also included as a first pull factor in the questionnaire.
3.
Location This deals with property and connectivity to road links, airports,
railway stations and bus stops. The more approachable the property is to the public transport terminal, the more value it holds. Proximity to the Central Business District also plays an important role in this aspect.
4.
Affordability Budget plays an important role in short listing the options
available in the market. Its only when the budget is decided, one starts looking for the available options in the price range decided.
SOME OTHER FACTORS: 1. Need for More Space 2. Need for Better facilities 3. Need for Healthy environment 4. Want for Quality Construction
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5. Lack of facilities in previous residence 6. Proximity to Workplace

7.
Job transfer
PARAMETERS:
1. Location - This parameter includes all the locational factors such as proximity to central business district, to schools, to hospitals, existence of huge shopping malls, etc. 2. Business Hub This parameters helps in analyzing the perception that people have about the job opportunities and business prospects available in different cities included in NCR. 3. Quality of Living This parameter helps in analyzing what people think about the style of living in NCR. 4. Law and Order This parameter helps in analyzing what people think about the safety and security situation prevalent. 5. Infrastructual Development This parameter helps in analyzing how respondents rate cities,on the basis of conditions of road and highways, availability of public transport, etc.
EXTERNAL FACTORS
1.Price Range 2.Connectivity to Public transport 3. Proximity to workplace
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4. Availability of loan 5. Easy Payment Plans 6. Rate of Interest 7. Resale Value 8. Clear title of property 9. Proximity to School 10. Proximity to Hospitals 11. Proximity to Entertainment Centers
IN LOCALITY FACTORS
1.Peaceful Locality 2.Pollution Free environment 3.Population/occupancy 4.Quality of Construction 5.Maintenance 6.Suitability of Home Type 7.Utilization of space 8.Water Availability 9.Power Backup 10.Safety-Security 11.Recreational facilities/Sports Complex 12.Car Parking facility 13.Club Membership
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CHAPTER 3: RESEARCH METHODOLOGY
RESEARCH METHODOLOGY
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This chapter deals with the research methodology adopted for this study. Research methodology includes the research design, sampling methods and the sample size of the study. It also states the scope, objectives and limitations of the study. OVERVIEW Research and experimental development is formal work undertaken systematically to increase the stock of knowledge, including knowledge of humanity, culture and society, and the use of this stock of knowledge to devise new applications. This chapter deals with objectives of the study, the objectives are an end that can be reasonably achieved within an expected timeframe and with available resources. In general, an objective is broader in scope than a goal, and may consist of several individual goals. It also deals with the sources from which the data was collected. Research Design: Descriptive Research Descriptive research is also called Statistical Research. The main goal of this type of research is to describe the data and characteristics about what is being studied. The idea behind this type of research is to study frequencies, averages, and other statistical calculations. Although this research is highly accurate, it does not gather the causes behind a situation. Descriptive research is mainly done when a researcher wants to gain a better understanding of a topic. Universe of the study: Flat Holders of Max heights in Delhi and NCR. Sample Sample Unit : 100 Flat Holders of Max heights, Kundli (Sonepat) : Flat Holders of Max heights, Kundli (Sonepat)
Sampling Technique: Convenience Sampling Technique Data collection tool : Self designed questionnaire including closed and open ended questions. Data Collection Method: Data was collected using primary as well as secondary methods of data collection. Primary Method : Face to face interview,Questionnaires,Telephonic Survey
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Secondary Method
: Magazines on property,Internet sites of popular property developers of india.
3.1 OBJECTIVES OF THE STUDY

To study the effect of marketing strategy on transit of people from Delhi to NCR (Sonepat). To study factors affecting consumer purchase with respect to marketing strategy of the firm.
3.2 SCOPE OF THE STUDY

This study covers Flat holders of Max Heights Kundli (Sonepat). The data was
collected from 100 Flat holders who have booked there Flats. A scheduled questionnaire was used to collect primary data on the other hand; secondary data was collected using books, magazines and websites. Graphical tools i.e pie charts were used in the process of analysis and interpretations of the collected data.
3.3 LIMITATIONS OF THE STUDY
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Since the study was within a period of 8 weeks, time factor was a major constraint.
The study was based on the assumption that the respondents will always be truthful and correct. But this assumption might not be true always.
The study depends upon responses of the respondents, who are believed to be giving the right information. Thus the accuracy of the survey and its findings depends a lot on the respondents and their responses.
This sample size cannot represent the features and characteristics of the universe to its entirety.
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CHAPTER 4: DATA ANALYSIS
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DATA ANALYSIS
Data Analysis is a method of applying statistical procedures so as to interpret meaningful information from a set of data. It includes the following steps: 1. Summarising data into a tabular form. 2. The data has been presented through Pie Charts. 3. Inference is drawn on the basis of Pie Charts. Pie charts have been drawn for the city Sonepat to analyse what respondants think about the first pull factors while purchasing an house and the factors impacting on consumer choice while making decision related to investment in a property.
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SONEPAT
FIRST PULL FACTOR WHILE PURCHASING A HOUSE Table 1.0: First pull while purchasing an house S.No 1. 2. 3. 4. Particulars
Brand name Advertisements Location Affordability
Total
Number 15 7 48 30 100
%age 15 7 48 30 100%
Mostim portantfactors
0 30% 15% 7% Brand nam e Advertisements Location 48% Affordability
Fig 1.0 First pull while purchasing an house
Interpretation:
1. The basic reason for people buying property in Sonepat in mass scale is its locational advantage. Many Reputed schools and colleges have also come up in Sonepat. 2. Second major factor which attracted people to buy property in Sonepat was affordability. Developers realizing that most of the people shifting to Sonepat
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will be from middle class society they constructed big towers with numerous reasonable flats. Since the price of the property kept by the developers suited the pockets of buyers they were able to buy it without any financial problem. 3. Third major factor was brand name. According to 15 % of the total respondents brand name was the prime reason for which they bought the property. In Sonepat Residential Appartments have been constructed by popular and leading property developers of India like Unitech, DLF, Ansals, Omaxe, Etc. 4. Only 7 % of the total respondents feel that it was advertisements which made them buy the property. Advertisements can actually put the name of the property in the mind of the buyer but no one actually buys the property only on the basis of advertisements. Thus it will be wrong to say that advertisements are useless since they do help in selling though not directly.
Factors Impacting on Consumer Choice while investing in property 1. Price Range
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Table 1.1
1. 2. 3. 4. 5. Factors Not at all To some extent Neutral To a large extent Total Number 0 3 17 80 100 Percentage(%) 0 3 17 80 100%
PriceRang e
0% 3% 17% Not at all To some extent Neutral 80% To a large extent
Fig 1.1 Price range
Interpretation: One of the most important factor is the price range that affect
consumer in purchasing a house, 80% of the respondant think that price range is an important factor. Mostly people,earlier living in rent have bought properties in Sonepat,either to avoid high rents prevailing in Delhi or due to the desire of having an own asset.Max Heights is offering 3B/R,4 B/R Flats and Penthouse at reasonable prices than the other projects.
2. Connectivity to public transport Table 1.2

1. 2. 3. Factors Not at all To some extent Neutral Number 0 2 8 Percentage(%) 0 2 8
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4. 5.
To a large extent Total
90 100
90 100%
Connectivityto public transport

Fig 1.2 Connectivity to public transport
Interpretation: 90 % of the respondant think that connectivity to public transport

is an important factor while purchasing a house so a person who is investing in an asset will keep in mind this factor,8% have neutral opinion and 2% of respondant think that to some extend this factor affect . Sonepat is fully connected to bus service, its a 20-25km drive from Rohini, metro project has been passed and it will be started in upcoming few years, Kundli manesar palwal expressway has been built up to byepass the traffic coming from north of delhi NH1 and going to south of Delhi NH2 or west of Delhi on NH8.
3. Proximity to work place Table 1.3

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1. 2. 3. 4. 5.
Factors Not at all To some extent Neutral To a large extent Total
Number 1 5 12 82 100
Percentage(%) 1% 5% 12% 82% 100%
Proxim to workplace ity

Fig 1.3 Proximity to work place
Interpretation: Proximity to work place is an important factor that affect the buyer
decision before investing into a property. 82% of respondant think its a crucial factor for them as they want to buy property near to their work place so that they can travel easily.Kundli manesar palwal expressway will help in byepassing the traffic from north of delhi to south of delhi those people who are working in gurgaon will be able to travel through this expressway.
4. Availability of Loan Table 1.4

1. 2. 3. Factors Not at all To some extent Neutral Number 0 2 10 Percentage(%) 0% 2% 10%
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4. 5.
88 100
88% 100%
Availabilityof L oan
Fig 1.4 Avaiability of Loan
Interpretation: Availability of Loan is one of the important factor for all the
investor who seek to invest in property. Builders contact various banks so as to provide loans to the person who are looking to invest in a property.Various banks like PNB, ICICI are associate with Max Heights Kundli.88% respondants think that it is one of the important factor that affect the person who wants to invest in property.
5. Easy Flexible Payment Plan Table 1.5

1. 2. 3. Factors Not at all To some extent Neutral Number 0 0 5 Percentage(%) 0% 0% 5%
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4. 5.
95 100
95% 100%
Easy flexiblepayment system

0% 5% Not at all To some extent Neutral 95% To a large extent
Fig 1.5 Easy flexible payment system
Interpretation: 95% respondant will be interested in purchasing a property if the

project in they are investing provide flexible payment system.So it is crucial for all the builders to provide various flexible payment schedule system so that it is easy for the investor to buy.Max Heights Kundli is providing flexible payment system to the buyers, they are been asked to pay their amount in easy installments.
6. Rate of Interest Table 1.6

1. 2. 3. 4. 5. Factors Not at all To some extent Neutral To a large extent Total Number 0 0 17 83 100 Percentage(%) 0% 0% 17% 83% 100%
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Rateof interest
0% 0% 17% Not at all To som extent e Neutral 83% To a large extent
Fig 1.6 Rate of interest
Interpretation: 83 % of respondant feel that Rate of interest is an important factor

while investing in a property,while 17 % gave a neutral view on this so it is an important factor for a person who is planning to buy a property.ICICI and PNB are associate partners with Max Heights Kundli and all those who are interested in buying flat or penthouse are been charges nominal rate of interest by these associate banks.
7. Resale Value Table 1.7

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Resalevalue
0%3% 5% Not at all To som extent e Neutral 92% To a large extent
Fig 1.7 Resale Value
Interpretation: Resale value of the property is an important factor buyer consider

while purchasing a house,buyer always expect that he/she is ready to invest in property which has a resale value. 92% of the respondant surveyed think that its an crucial factor for the buyer,5% have neutral view about the resale value, 3% of the respondant think that to some extend the resale value.Max heights Kundli flat/Penthouse Holders are enjoying the resale value factor as Max Heights is located at prime location which attracts other buyers.
8. Clear title to property Table 1.8

Factors 1. 2. 3. 4. 5. Not at all To some extent Neutral To a large extent Total Number 7 3 6 84 100 Percentage(%) 7% 3% 6% 84% 100%
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Cleartiltle to property
0 7% 3% 6% Not at all To some extent Neutral 84% To a large extent
Fig 1.8 Clear Tile to property
Interpretation:84% of the respondants think that the clear title to property is an

important factor that is considered while purchasing an house, 6% have neutral view about the clear title of property,3% think that to some extend this factor affect and 7% respondant say clear title to property is not at all important factor while purchasing an house.
9. Proximity to school Table 1.9

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Proxim to school ity

4% 5% 13% Not at all To some extent 78% Neutral To a large extent
Fig 1.9 Proximity to school
Interpretation: 78 % of the respondant think that proximity to school is an

important factor that affect consumer purchase as it is easy for the persons to send their children near to their house,13% have neutral opinion about this factor,5% think that to some extend proximity to school affect consumer purchase,4% respondant have an opinion that this factor not affect at all.Delhi Public School and many reputed schools are there in Sonepat which attract the buyer to invest in Kundli.Rajeev Gandhi Educational city which has been spread over 2500 acres is near to the Max Heights Kundli.
10. Proximity to Hospital Table 1.10

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Proximityto hospital
Fig 1.10 Proximty to hospital
Interpretation: Proximity to hospital is an important factor while investing in an

property according to respondants 85% of respondants think that it is a crucial factor,7% have an neutral view on this factor and 8% think that to some extend this factor affect while purchasing an house.
11. Proximity to entertainment centre
Table 1.11
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Proxim to entertainm centre ity ent

8% 6% Not at all 34% To some extent Neutral To a large extent
52%
Fig 1.11 Proximity to entertainment centre
Interpretation: 52% of the respondants think that proximity to entertainment

centre is an important factor while investing in a property,34% respondant have a neutral point of view about this factor,6% think that to some extend these factor affect while purchasing an house and 8% think that this factor doesnot affect at all.
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CHAPTER 5: MAJOR FINDINGS & DISCUSSION
MAJOR FINDINGS & DISCUSSION

1. Maximum of respondant think price range is one of the important factor that people consider while purchasing an house.Mostly people,earlier living in rent have bought properties in Sonepat,either to avoid high rents prevailing in Delhi or due to the desire of having an own asset.
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2. Majority of the respondant think that connectivity to public transport is an important factor, while purchasing a house a person who is investing in an property will keep in mind this factor.
3. Proximity to work place is an important factor that affect the buyer decision before investing into a property. Majority of respondant think its a crucial factor for them as they want to buy property near to their work place so that they can travel easily.
4. Majority of the respondants think that Availability of Loan is one of the important factor that affect the person who wants to invest in property.
5. Builders are adopting flexible payment system so as to attract the buyers and major of the respondants feel that this is an important factor so that they can payout their dues easily.
6. Rate of interest been charged by the bank on the loan amount is an importnat factor as 83 respondant out of 100 are willing to invest if they found get laon at feasible rate of interest.
7. Resale value of the property is an important factor buyer consider while purchasing a house,buyer always expect that he/she is ready to invest in property which has a higher resale value.
8. 84 respondants out of 100 think that the clear title to property is an important factor that is considered while purchasing an house.
9.
Proximity to school is an important factor that affect consumer purchase as it is easy for the persons to send their children near to their house,majority of the respondants find it as one of the crucial factor.
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10. Proximity to hospital is an important factor while investing in an property according to respondants 85% of respondants think that it is a crucial factor,as in case of emergency than can easily rush to hospital.
11. Entertainment centre are now a days crucial for all the buyers as customers not only require quality residence but some leisure activities too. To a large extend customers believe that Proximity to an entertainment centre is very crucial for the daliy life.
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CHAPTER 6:
CONCLUSION & RECOMMENDATIONS
CONCLUSION
Real estate in India will continue to rock. Profound economic suggest that the realty sector would grow at 30% per annum to reach to $45 to 50 billion by 2010 from the existing $12 billion. To achieve this growth real estate in India would require huge
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investments over the next five years. By 2015 it is projected that the market size would grow to $ 90 billion.
The major first pull factors that impact on buyer choice are Location, Affordability,Brand name and Advertisement. Price range, Proximity of to work Place,Connectivity payment to public of
transport,Availability
laon,Easy
flexible
system,Rate
interest,Resale Value,Clear title to property,Proximity to school,Proximty to Hospital,Proximity to School,Proximity to Entertainment Centre are the major factors that buyer keep in mind before investing into a property. Buyers are attracted towards Max Heights (KUNDLI) as all these factors as all these factors were kept in mind by the managment of the Max Heights before launching the projects in the Sonepat.
RECOMMENDATIONS
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As Max Heights (Kundli) enjoys good brand name and have a battalion of brand loyal customers it shall make sure that the maintenance of its occupied residential complex is taking place in the best possible manner. Due to stiff competition in the market Max Heights (Kundli) shall focus on the Quality of homes provided and shall also try its best to meet different kind of requirement of different buyers. Due to the current oversupply situation in the market Unitech shall resist from increasing price of its property. Max Heights(Kundli) shall help and lure the prospective buyers by helping them in getting housing loans. It shall collaborate with some popular banks for this purpose. These days even banks are more than willing to provide home loans. Max Heights(Kundli) shall provide the right amount of greenery in its housing complexes, as pollution free environment is a very important factor that people consider while purchasing the property. Advertisement for selling property in Sonepat can be like Fed up of paying rent. Now realize your dream of having a house of your own-COME TO SONEPAT as desire of having an own house near : To proposed Metro link, Just 100 metre away from NH1, Adjoining Rajiv Gandhi Educational Society which is spread over 2500 acres, Near Kundli Manesar Palwal Expressway.
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REFERENCES
REFERENCES
BOOKS & JOURNALS
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Pujari J.M,(2006): Real Estate in India: Manav Publication, New
Delhi.
Kothari C.R,(2010): Research Methodology: Sultan Chand
Publications, New Delhi. INTERNET LINKS

http://www.realestategrowth.com/blog/archives/10-critical-strategies-for-newreal-estate-agents-in-any-market. html last accessed on 25.06.2012 .http://www.allvoices.com/contributed-news/8850303-marketing-strategy-for-areal-estate-company last accessed on 25.06.2012 http://www.mplans.com/real_estate_marketing_plan/marketing_vision_fc.php last accessed on 25.06.2012 http://www.google.co.in/#hl=en&sclient=psyab&q=marketing+strategy+of+real+estate+firms&oq=marketing+strategy+of+rea l+estate+firms&gs_l=hp.3...13665.30478.0.30612.40.27.2.0.0.1.2032.10886.7last accessed on 25.06.2012
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ANNEXURE
ANNEXURE
Name:- . Age:- .............. Gender:- Male / Female
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Address:-. . Q1. What factors was the first pull while purchasing an house. Brand name of developer Location Attractive and Frequent Advertisements Affordability
Q2. To what extent do the following factors impact consumers choice on moving from Delhi to NCR. Not at all 1. FACTORS 1 Price range 2 Connectivity to public transport 3 Proximity to work place 4 Availability of loan 5 Easy flexible payment plan 6 Rate of interest 7 Resale value 8 Clear title to property 9 Proximity to school 10 Proximity to hospital 11 Proximity to entertainment centers Suggestions (If Any) _____________________________________________________________________ ________________________________ To some extent 2. Neutral 3. 1 2 To large extent 4. 3 4
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Marketing Strategy of Narang Constructions and Financiers Pvt.

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

1.1 INTRODUCTION TO THE INDUSTRY

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

REAL ESTATE IS A GROWING SECTOR IN INDIA

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

PRESENT SCENARIO OF REAL ESTATE IN INDIA

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

FUTURE SCENARIO OF REAL ESTATE IN INDIA

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

AMAZING BOOM IN COMMERCIAL SECTOR:

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

MAJOR PLAYERS OF REAL ESTATE MARKET IN DELHI

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

Overall assessment about the Real Estate industry in India

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GLOBAL SCENARIO IN REAL ESTATE INDUSTRY

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

REAL ESTATE DELHI AS THE TARGET MARKET

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

1.2 INTRODUCTION TO THE COMPANY

GITARATTAN INTERNATIONAL BUSINESS SCHOOL

Marketing Strategy of Narang Constructions and Financiers Pvt. Ltd

GITARATTAN INTERNATIONAL BUSINESS SCHOOL