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Real Estate
ON
“THE ATTITUDINAL STUDY OF BUYERS TO
ANALYSE THE REASONS FOR TRANSITION
FROM DELHI TO NCR ”
(AKHIL KUMAR)
A1802006 C03
Table Of Contents
Contents
Acknowledgements
Table of Contents
Executive Summary
1. Introduction
1.1 Sample Method
1.2 Sample Size
1.3 Data Collection Method
1.4 Problems Encountered
1.5 Factors and Parameters
2.Data Analysis
2.1 Factor Analysis
2.2 Tables and Charts
2.2.1 Gurgaon
2.2.2 Noida
2.2.3 Ghaziabad
2.3 Developers
2.3.1 Buildings Surveyed
2.3.2 Other Building Surveyed
2.3.3 Analysis of Data Collected
3. Recommendations
4. Conclusion
5. Bibliography
Annexure 1
Annexure 2
Annexure 3
EXECUTIVE SUMMARY
INTRODUCTION
Earlier people used to search for a new home within Delhi but now
things have changed tremendously. People looking for a new home
have started focusing on the upcoming NCR area comprising Gurgaon,
Noida, Greater Noida, Faridabad and Ghaziabad. There are numerous
factors responsible for this change, which have been identified and
analyzed during the research and the same has been indicated later in
the report.
OBJECTIVES
To find out the reasons for transition of people from Delhi to
National Capital Region (NCR).
To find out the perception of people about the cities included in NCR
namely Gurgaon, Noida, Greater Noida, Faridabad and Ghaziabad.
To know the degree of importance of various factors which people
consider while purchasing a house.
STEPS
Understanding the objectives and requirements of the project
clearly.
Prepared a questionnaire keeping in mind the objectives to be
achieved. Accordingly three questionnaires were made:
Housing (See Archive 1)
Society (See Archive 2)
Builders (See Archive 3)
Searched for busy commercial places, occupied housing complexes
and under-construction housing complexes located in Gurgaon, Noida,
Greater Noida, Faridabad and Ghaziabad.
Obtained Permission to conduct surveys in shopping malls and housing
complexes.
Conducted survey with the help of a questionnaire in shopping malls
and occupied housing complexes and carried out in depth interviews of
the sales manager of under construction housing complexes in
different cities of NCR
Analyzed the data collected, through tables and charts in MS Excel.
Drafted the report.
LIMITATIONS
Study was restricted to Gurgaon, Noida, Greater Noida, Vaishali and
Indirapuram.
Study was restricted to occupied housing complexes, shopping malls
and under-construction housing complexes.
INTRODUCTION
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 and Ghaziabad 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.
Sample Size
People living in Gurgaon Housing and Society Complexes, in Noida
housing complexes and in Ghaziabad (Indirapuram) Housing
complexes were surveyed.
Primary Method
Secondary Method
1) Magazines on Property
2) Internet sites on Property
3) Internet websites of popular property developers of India
PROBLEMS ENCOUNTERED
Denial of permission to conduct survey in PVR shopping mall and
few housin complexes like DLF Belvedere Park, Ansals Sushant Lok,
etc.
Travelling to far-off places from Delhi everyday.
Analyzing the perception of people about different cities of NCR was
little difficult as some respondents didn’t have much knowledge about
Ghaziabad and Faridabad.
Factors and Parameters Chosen for Survey
Factors were
External Factors
1.Price Range
2.Connectivity to Public transport
3. Proximity to workplace
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
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
couldn’t have asked for a better opportunity to buy a home.
Indian developers are now not talking of anything 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 everyone’s interest at heart.
The Major reasons for boom in the real estate market are:
Affordability
Investment Option
Migration Of Industries
DATA ANALYSIS
In order to attain the objective of knowing the degree of importance of
various factors which people consider while purchasing the property,
two questionnaires were included in the questionnaire. From each
questionnaire the responses to these questions were recorded in the
computer and analyzed.
FACTOR ANALYSIS
External Factors
Descriptive Statistics
Mean Std. Analysis
Deviation N
PRICE 4.20 .88 406
CONNEC 2.61 1.25 406
TV
WORKPL 3.37 1.36 406
AC
LOAN 3.29 1.40 406
PAYPLAN 3.17 1.33 406
INTERES 3.08 1.36 406
T
RESALE 2.98 1.60 406
CLRTITL 4.25 1.34 406
E
PROXSC 2.91 1.44 406
HL
HOSPT 2.77 1.22 406
ENTRTN 2.57 1.19 406
M
CONCLUSION
Std. Analysis
Mean Deviation N
PEACE 4.04 .81 406
POLLUTN 3.85 .91 406
POPULTN 3.05 1.10 406
CONSTRUC 4.24 .78 406
MAINTENC 4.17 .90 406
HOMETYPE 3.84 .91 406
SPACE 3.67 .91 406
WATER 4.77 .53 406
POWER 4.28 1.10 406
SAFETY 4.69 .66 406
SPORTS 3.02 1.22 406
CARPARK 3.89 1.14 406
CLUB 2.46 1.26 406
CONCLUSION
Thus with the help of factor analysis it can be concluded that following
in-locality factors are important:
Three tables and charts have been prepared for each of the three cities
from each of these cities think about five cities included in NCR namely
250
200
150 Gurgaon
No. of People
Noida
100
Greater Noida
50 Faridabad
Ghaziabad
0
Location Business Quality of law and order Infrastuctural
opportunity living development
Parameters
Findings:
Brand
name AdvertisementsLocation Affordability
46 10 140 72
Most important factor
17%
27%
4% Brand name
Advertisements
Location
Affordability
52%
Findings:
name was the prime reason for which they bought the property. In
Gurgaon Housing Complexes have been constructed by popular and
leading property developers of India like Unitech, DLF, Ansals, Omaxe,
Etc.
60
people 18 58 10 42 11 26
50
40
30
20
10
0
Own house
workplace
living status
more space
Job transfer
Others
Facilities
facilities
environment
Lack of
Location
construction
Investment
Increase in
Prox. to
Better
Better
Healthy
Quaity
Reasons
Findings:
1.Among various reasons better location is the most important reason for
the people to shift to Gurgaon Housing and Society Complexes. Why
location is most important has become apparent till now.
2.Proximity to Workplace and Better Facilities are close second and third
most important reasons. Proximity to Workplace may become the most
important reason in few years time as industry migration to Gurgaon is
happening quickly. All the international brands are preferring Gurgaon over
Delhi for their regional office. Moreover people in need of better facilities
like water availability, Power Backup, Safety and security, etc also prefer to
shift to Gurgaon as Housing complexes of Gurgaon provide all these
facilities.
3. Need for more space, Need for Healthy Environment, Need for Own
House and Increase in Living Status can be considered as other major
factors for people shifting to Gurgaon Housing Complexes.
NOIDA
Perception of People about the cities
60
50 Gurgaon
40 Noida
30 Greater Noida
20 Faridabad
10 Ghaziabad
0
Location Quality of infrastuctural
living Development
Parameters
Findings:
1.In Location, Noida is a clear winner with 54 out of 56 respondents
choosing it as the best location in the entire NCR. That is a huge
percentage around 96%. This shows that Noida people are happy with
its Location. Noida is located close to the Capital of India and is also
very closely located to Indirapuram, another upcoming city.
2.In all parameters other than location, Gurgaon has also been ranked
as no.1 by many people.
3.One significant thing in this chart is that Faridabad was selected by
many Noida respondents as no.1 in case of business opportunities
available.
Brand
name AdvertisementsLocation Affordability
1 0 40 31
1%
0%
Brand name
43% Advertisements
Location
56% Affordability
Findings:
1.In Noida just like in Gurgaon, location is the most important factor
that pulls the people to buy a new home.
2.Advertisements have no role in the sale of homes but as said before
in the report advertisements do add the advertised property as an
option in the mind of the prospective buyer.
40
35
Number of people
30
25
20
15
10
5
0
Own house
More Space
living status
Job transfer
facilities
facilities
Others
environment
Lack of
Location
construction
Investment
Increase in
Proximity to
workplace
Better
Better
Quality
Healthy
Reasons
Findings:
1.One of the most important thing found out in the survey was that
the one of the major reasons to buy the house was the desire of
people to have their own house. This reason was not at all important
in case of Gurgaon. This goes on to show that houses in Noida are
very reasonable. Mostly people earlier living in rent have bought
properties in Noida either to avoid high rents prevailing in Delhi or due
to the desire of having an own asset.
3.Another major reason for buying the property in Noida is Need for
more space. Generally people earlier living in joint families or newly
married couples prefer buying property in Noida as they are
affordable.
GHAZIABAD
80 Gurgaon
Noida
60
Greater Noida
40
Faridabad
20 Ghaziabad
0
Location business Quality of Law & order Infrastucture
Opportunity Living
Parameters
Findings:
2.In all other parameters there is a clash between Noida and Gurgaon
but Noida seems to lead in every parameter.
3.In business opportunity Noida have again been favoured while rest
four have almost same image in the mind of Ghaziabad respondents.
4.In case of quality of living both Noida and Gurgaon have been
marked by many as number 1. Style of living in other three places do
not have enjoy good reputation in the mind of the Ghaziabad
respondents.
5.In case of law and order Ghaziabad and Faridabad are clear losers.
This fact has been observed in all the three cities.
6.In Infrastructure Greater Noida enjoys good reputation.
Brand
Name AdvertisementsLocation Affordability
14 11 85 92
7%
5%
Brand Name
46% Advertisements
Location
Affordablty
42%
Findings:
1.In Ghaziabad affordability is the main reason for the people buying
property out there. The occupied Housing complexes of Ghaziabad are
pretty old and very reasonable. Developments in Ghaziabad started much
before it started in Gurgaon and Noida. So at that time prices were low.
Now with the massive development of Noida, Gurgaon as well as of
Indirapuram price of property have increased like anything.
3.Advertisements and brand name did compel few to buy the property
in Ghaziabad but still they were not so important factors.
80
70
Number of People
60
50
40
30
20
10
0
Own house
More Space
living status
Job transfer
Others
facilities
facilities
environment
Lack of
Location
construction
Investment
Increase in
proximity to
workplace
Better
Better
Healthy
Quality
Reasons
Findings:
Developers
Findings:
1. It is clear from the above bar chart that Location is the most
important factor which people consider while purchasing the
property.
4. Car Parking and Sports complex are least important factors and
according to developers, people don’t consider them much while
choosing a property.
RECOMMENDATION
1.As Unitech enjoys good brand name and have a battalion of brand
loyal customers it shall make sure that the maintenance of its occupied
housing complexes is taking place in the best possible manner.
2.Due to stiff competition in the market Unitech shall focus on the
Quality of homes provided and shall also try its best to meet different
kind of requirement of different buyers.
4.Unitech 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.
6.Gurgaon, Noida and Greater Noida are the places where Unitech
shall come up with new projects as they have been marked favourably
by the all respondents. Respondents do not have good image of
Faridabad and Ghaziabad while Indirapuram is yet to prove its worth.
• Location wise Gurgaon and Noida are adjudged the best by the
respondents
• Business opportunity wise Gurgaon due to the mass presence of
BPO company and offices of MNC’s and Noida due to its
proximity to Delhi are consider good by the majority of
respondents.
• In Quality of living again Gurgaon and Noida leads the pack but
out of the two Gurgaon is better due to the existence of Higher
and upper-middle class people in large number.
• In Law and Order all the places are bad as per the respondents
but out of the five Gurgaon is the best.
• As far as infrastructural development is concerned Greater Noida
enjoys good reputation among the respondents of all the three
cities.
Bibliography
• www.unitechgroup.com
• www.dlf-group.com
• www.ansalspropertiesltd.com
• www.eros-group.com
• www.eldecogroup.com
• www.omaxe.com
• www.parsvnath.com
• www.ashianahousing.com
• www.gurgaonproperties.net
• www.realestatencr.com
• www.gurgaonrealestate.com
• www.estatedeveloper.com
Annexure 1
Annexure 2
Annexure 3