A

PROJECT REPORT

ON

AN ANALYTICAL STUDY ON BRAND PROMOTION AND

MARKETING STRATEGIES FOR ENTERPRISE
DEVELOPMENT IN REAL ESTATE SECTOR FOR
MIDSHIPMITE RECRUITERS PVT LTD”

A Summer Internship Project(SIP) done in

“MARKETING”

Submitted in partial fulfillment of the requirement for the award of degree of Master of
Management Studies (MMS) under the university of Mumbai

Submitted by

NAME OF THE CANDIDATE:HEMALVYAS

ROLL NO:2018MMS0058
BATCH: 2018-2020

Under the guidance of

PROF. S.S RANJAN
Bharati Vidyapeeth’s
Institute of Management Studies& Research Navi Mumbai
 (i)
ACKNOWLEDGEMENT

The internship opportunity I had with Midshipmite was a great chance for learning and Professional
Development. Therefore, I consider myself as a fortunate individual as I was provided with an
opportunity to be a part of this project. I am also grateful for having a chance to meet so many
professionals who led me through this internship period.

I take this opportunity to express my sincere gratitude to Dr. Anjali Kalse, In charge Director of
BVIMSR and Prof. Ranjan for giving me advice and guidance. It is my radiant sentiment to have a
deepest sense of gratitude to Mr. Omkar Vichare, Director of Midshipmite Pvt Ltd and HR Ms. Pooja
Patil and all the other staff for their precious guidance which was extremely helpful for me during the
entire period of internship.

I perceive this opportunity as a big milestone in my career development. I will endeavor to use gained
skills and knowledge in the best possible way and I will continue to improve my skills in order to
attain desired career objectives.

Signature of the student

(HEMAL VYAS)
 (ii)
PLEASE PASTE HERE THE CERTIFICATE FROM THE COMPANY
 (iii)

CERTIFICATE
This is to certify that the Summer Internship Project (SIP) titled “
“ DISCUSS MARKETING INITIATIVES AND STRATEGIES IN ORDER TO BUILD AND
PROMOTE BRAND AND DEVELOP BUSINESS IN REAL ESTATE SECTOR FOR
MIDSHIPMITE RECRUITERS PVT LTD ”
” is successfully done byMs. Hemal Vyas, BATCH: 2018-2020, a student of BharatiVidyapeeth’s
Institute of Management Studies and Research, submitted in partial fulfillment of Master of
Management Studies under the University of Mumbaifrom1nd May to30thJune 2019 at
MIDSHIPMITE RECRUITERS PVT LTD

Date :___________

_____________________ _________________
Prof.Manisha Waghmode Dr. Anjali Kalse
Project Guide I /c Director
BVIMSR BVIMSR
 (iv)
EXECUTIVE SUMMARY

This Report focuses on the syndicate vertical concept which deals in the empanelment of brokers
into syndicate and various impact of CRM tool for Real estate Brokers. The company mainly deals
in Primary sales and is also the No1 Marketing channel Partner with all A brand builders like
Lodha, Godrej, Hiranandani, Kalpatru, L&T.The company is also the channel partner with
prominent banks such as ICICI, HDFC, Punjab National Bank, Bank Of India, Bank Of Baroda.

While many people dream one day to purchase their own home, cultural barriers and shortages in
affordable housing are just two of the issues that can prevent these dreams from materializing. SR
Real Estate is working to keep these dreams alive. This real estate brokerage will not only
define success by the number of units closed and sales volume but also by whether people were
helped in the process.

SR real estate, leading in giving people the home they want and also helping people who are looking to
sell them. SR real estate has helped a lot of people to get their dream home and office with our
experience and our immense data. Commercial/ residential/ sale/ purchase/ rent, these are the services
that SR real estate leads in. Just drop down your inquire and requirements, and they will revert you
back within an hour or two.

With the help of this project an attempt is made to study the current trends and patterns of purchasing
properties and the present market share of properties according to the location. The study is based on
survey of customers as well as the brokers of the particular locality into which we deal. The
information collected through questionnaire from respondents.

The SR real estate program is an important industry initiative of Property SR real estate to
bring all retail and institutional brokers on a common platform with a 3-fold objective:

● Provide tools & techniques (such as company specific websites, Customer

Relationship Management tools) to brokers that assist them to operate with a
significantly higher level of professionalism
 ● Enable better coordination amongst brokers for quick sales closure in the secondary
(rental & resale)market

● Push new launches of empanelled developers deeper into the markets via brokers in
the SR real estate work.

● A technology solution, based on the “Together-We-Grow” philosophy, custom built

to help the Real Estate Broker Community professionally run their business with
enhanced business opportunities & revenue streams.

Through our enormous data, SR Real Estate can provide you with a house that you love living in.

READ MORE
 (v)
TABLE OF CONTENTS
PARTICULARS PAGE NO:
Acknowledgement (i)
Certificates (ii)
Executive Summary (iv)
Table of Contents (v)
 Chapter 1: Introduction of the Project
1.1: Concept & Significance & Need of the Study

The real estate industry today has changed so much that each sector needs special skills to make it
work efficiently. All over the world, prices are fluctuating. Global agencies monitor trends in the top
influential cities. With many foreign investments in India and NRIs returning, the Indian property
market watch is on the top most of every big agency.

Mumbai is the most costly city to live in India. To understand real estate marketing we should at least
have the minimum knowledge required to step into this complex realty industry. Out there, plenty of
smart competitors are looking for suckers. They may not be dishonest but will technically confuse you
to pay higher price and outsmart you. Therefore, if you know the deep layers beyond the skins it helps
to get the best output.

The purchasing power of the new generation of India has increased. They are investing in real estate in
a big way- in terms of investments and assets. People have acquired refined tastes in housing needs
and become way professional in dealing with builders and brokers. Financial companies and banks
have given a boost to real estate marketing as well by providing home loans and investment advice.
Also government has allowed foreign investors also to test the market conditions here have helped.
Every sector of real estate be it industrial, retail space, malls, office complexes, residential colonies,
hospitals, clinics and other healthcare units have a vast potential for growth.

With the growing opportunity for people to work them also wish to invest in places close by to live in
as their disposable income is increasing. Builders or developers in various regions are now separately
marketing each space and hence are tough competitors for brokers. Nowadays home loan companies
and banks are independently marketing the properties they are giving loans. This helps them to guide
their dedicated clients and ensure the marketing trends remain closely monitored for future
development.

They generally have sales executive and customer relationship executives who are assigned (usually
area wise) to assist customers in making decisions. They do have good knowledge, are professionals
on the job and customers do benefit if they are not very familiar with various technicalities. Each
company has its own marketing device and strategies to attract Customers.
Various collaborations with groups in India and overseas have taken place this year with increase in
FDI. MGF Developments located in New Delhi and Emmar Properties based in Dubai have joined
hands in the first quarter of 2006 for investments within the country. Nowadays most of real estate
firm’s focus is on shopping malls and residential complexes. In some areas, the thrust is on IT parks,
and corporate offices and resorts.

However, on the other side every individual or every other executive does not feel the real estate sector
in India is being well marketed or managed and there are some gray areas, which need to be covered
up. For occurrence, foreigners who wish to invest or firms who are looking at Indian partners are
feeling the crunch of bureaucracy and familial ways of working. This makes it difficult for them to do
business. There exists a potential but it needs to be tapped wisely. A proper format is to have real
estate marketing with the right professionals. Everyone wants the maximum cash on the business.

After one year of gradual consolidation, real estate in India has fathomed its own comfortable ground,
and is poised at the right threshold to take a giant leap in future. While a different pace of strength is
evident across sectors, geographies and segments, several property market indicators point to the fact
that the industry has indeed bottomed out in the current cycle. The terror of a possible double dip
recovery have given way to beliefs in the sustained healthy levels, if not a rapid growth.

The experience thus gained in this slowdown is priceless and will serve real estate strategists for years
to come. The various stakeholders in the entire supply chain – the material manufacturers, developers,
property consultants, occupiers, investors and policy makers, have all emerged stronger and primed
than past years. And, if we have taken our lessons right, ‘caution’ and ‘persistence’ would be the
keywords for the industry in the medium term.

On one hand, the stakeholders can’t afford to swing on the riding waves of healthy demand, and lose
the ground advantage that they have so painfully regained by adapting to the rapidly changing business
environment. And on the other, the emerging opportunities should be targeted with an unmatched
fervour of potential.

The year 2011 would escort a new decade of opportunities for Indian real estate, which will be a test of
sorts for its stakeholders between these two fringes of the fulcrum. And the winners would be the ones
who balance caution with diligence evaluating all the potential opportunity.
Commercial Real Estate
 Office rents to start increasing after mid-2011
 More purchases by occupiers as well as private equity players.
 IT and BFSI would continue to account for 60-70% of office demand.

Residential Real Estate

 Launch of premium products to continue at a slower pace
 Launch of Ultra Low Cost (ULC) Housing by private developers – ‘Housing for All’
 Large number of launches would continue to be in the range of INR 2,000-3,000 per sq ft at
the leapfrogged suburban locations
 Impact on affordability will influence the price and purchasing power.
 Sustainability to gain focus as the industry looks forward towards Green Homes standards
considering the heath factor.
 1.2: Objective of the Study

 To be Channel Partners with top banks in Navi Mumbai who provide home loans

 Partnership with corporate renting companies.

 Tie-ups with the sub-agents covering the area of Navi Mumbai

 Digital Promotion On SR Real estate portal and other social media platforms.

 Partnership with Commercial Investors.

 Maintain database of warm and cold customers.

 1.3: Scope of the study

The project undertaken makes me able to improve my professional skills and expertise. It
helps me in getting an idea of Real Estate industry and its importance in our life. It
increases my confidence on professional ground by dealing with high profile corporate
that are very hard to convince. As for as company’s benefit is concerned, this project
helps company to know its market condition and level of competition. Also it helps in
creating awareness to consumers regarding property documents and in promotion of
their services.
In order to accomplish the objectives of the project a survey has been conducted amongst
customers of the real estate market. The survey is based on questionnaire filling method
and limited to some parts of Bhubaneswar and local region. The survey is restricted to
the information needed to show legal, technical and financial transparency between
project developer and customer.
1.4: Introduction to the topic
 1.6: Literature Review

This Chapter focuses on the theories and marketing strategies used in real estate market. In India has
become so huge that to get everything or anything specific within one roof is easy and difficult at the
same time. To pitch the clients and to successfully close the ideals here are some of the real estate
theories and marketing strategies used below:

1.6.1: Bid Rent Theory:

(David Ricardo 1817) states that how the price and demand for real estate change as the distance from
the central business district (CBD) increases. This states that different land users will compete with
one another for land close to the city centre. This is based upon the idea that retailer wish to maximize
their profitability, so they are much more willing to pay more for land close to the CBD and less for
land further away from this area. This Bid Rent theory is based upon the reasoning that the more
accessible an area (i.e., the greater the concentration of customers), the more profitable.

Land users all compete for the most nearby land within the CBD. The amount they are willing to pay is
called "bid rent". It could be assumed that, according to this theory, the poorest houses and buildings
would be on the very far from the city, as this is the only location that they can afford to occupy(Simon
Ross,2008).Nowadays, however, this is rarely the case, as many people prefer to trade off the
accessibility of being close to the CBD and move to the edges of a settlement, where it is possible to
buy more land for the same amount of money (as the bid rent theory states). Likewise, lower-income
housing trades off greater living space for increased accessibility to employment.

The theory is used by the researcher as a strategy to target and segment the clients into two sections
one the people with higher income group and the other with lower income group. If there comes a
client whose budget is comparatively less then we can suggest them poorest houses which are located
in the outskirts of the city so that they can easily afford it on the other hand the client whose budget is
more, we suggest houses with improved basic amenities so that it becomes easy for the researcher to
pitch the client (William Alonso 1964).
 Figure: 1.1 Graphical presentation of Bid Rent Theory Curve.

1.6.2: Greater Fool Theory:

(Dr.Vicki Bogan 1990) states that it is possible to make money by buying securities, whether or not
they are overvalued, by selling them for a profit at a later date. This is because there will always be
someone (i.e. a bigger or greater fool) who is willing to pay a higher price.

A price can be justified by a buyer under the belief that another party is willing to pay an even higher
price. In other words, one may pay a price that seems "foolishly" high because one may rationally have
the expectation that the item can be resold to a "greater fool" later(Fox, Justin (2001-06-11))

In real estate, the greater fool theory can drive investment through the expectation that prices always
rise. A period of rising prices may cause lenders to underestimate the risk of default.

In the stock market, the greater fool theory applies when many investors make a
questionable investment, with the assumption that they will be able to sell it later to "a greater fool" at
a higher price(Black laws Dictionary,2015).In other words, they buy something not because they
believe that it is worth the price, but rather because they believe that they will be able to sell it to
someone else at an even higher price and will receive profits. It can be also called survivor investing
(Justin 2001).

1.6.3: Game Theory:

(John Von Neumann Oscar Morgnstern 1944) states that there is an optimal strategy and way to play
the “game” in every situation. If a buyer bids higher than they believe the property is worth, they may
“win” the bid, but they have not necessarily “win” the game because they paid more than the value of
the house.
With the understanding that game theory is “the complex study of human decision making,” real estate
transaction can be viewed in context of game theory when assessing bids and attempting to get a
“good deal” on a house in both the buyer and seller’s terms, respectively (Bellhouse, David 2007) .In
this game, groups of participants are “stakeholders,” and these stakeholders include “landowners,
property developers, various municipal departments, investors, end users, and real estate agents”. Each
of these stakeholders respond to other stakeholders’ actions and strategies within the game, and each
stakeholder’s actions have a ripple effect on other stakeholders. Game theory uses mathematical
models combined with rational behavior to explain the best possible action for a player.
Real estate transactions involve negotiations between buyers and sellers regarding the price and
value of property and homes. Because so much information related to property prices, the value of
homes, sales trends, and the mortgage market is readily available to potential buyers and sellers, a real
Estate negotiation can be a clear and easy method to understand the “game”. These conveniences
cause real estate transactions to be often labeled as a “perfect information game,” because the
“players” of this game (the buyer and seller of the house) are aware of all the “moves” of the other
player and the actual value of the home. However, this is only true in theory and is actually an
oversimplification of the real estate game. The information transparency is mainly applicable to single-
offer deals where there is only one potential buyer bids on a house. Most of the time there are multiple
offers and multiple bids from interested buyers. In multi-offer situations, asymmetry of information is
one of the most powerful strategies for an optimal play for all stakeholders, depending on who holds
more information.
Similar to the majority of familiar games, the real estate game has three plausible outcomes:
win/win, win/lose, and lose/lose. In a win/win outcome, both the seller and buyer are pleased with the
transaction—the seller feels as though he was compensated at least fairly for the value of the property
and the buyer feels as though the price of the property was at least equal to its value. In this case, the
opposing parties both leave the transaction happily and the relationship has not been diminished or
tarnished in any sense. A win/lose scenario is often referred to as a “zero sum game,” where when one
party must give up something in order for the opposing party to gain anything; this principle typically
applies to price negotiation and less to other aspects of property negotiations like the closing date or
additional contingencies. Typically only very aggressive players play the “zero sum game” leading to
a win/lose outcome, because one resulting party leaves the transaction displeased. In this context, a
very aggressive player is one who is selfish and disregards the other players’ needs or is desperate to
sell or buy.
1.6.4: Marketing Strategy:

A marketing strategy is a business's overall game plan for reaching people and turning them into
customers of the product or service that the business provides. The marketing strategy of a company
contains the company’s value proposition, key marketing messages, information on the target
customer and other high-level elements.

The marketing strategy informs the marketing plan, which is a document that lays out the types and
timing of marketing activities. A company’s marketing strategy should have a longer lifespan than any
individual marketing plan as the strategy is where the value proposition and the key elements of a
company’s brand reside. These things ideally do not shift very much over time. The researcher has
divided the marketing strategies into two sections brand promotion and business development. Here
are the following marketing strategies for brand promotion:

1. Build Professional Website:

Professional Website creation is the best way to attract customers towards your business. It
gives an abstract information and overview of what you serve to your clients, about your
business, your services etc. Professional Website to create a strong first impression and build a
powerful foundation for all of your digital marketing efforts. A joint study by Google and Loop
net has shown that almost +80% of tenants and investors use the internet to make lease and
purchase decisions. This means your website is critical to help you gain brand visibility,
acquire new prospects, and drive sales and lease-up efforts. Moreover, your ability to reach and
attract more potential tenants, brokers and investors (and banks) increasingly hinges on the user
experience of the website displayed on their device.(Hubspot,2018)

2. Paid Advertisement on Google Business:

Google advertising is a great marketing strategy for all type of businesses. One can show an ad
for your business to people who are searching for your type of business at that very
moment and who are looking for businesses in your area. This type of targeting makes all type
of business owners want to advertise on Google. Google is one of the most used search engine
worldwide and hence can be used as the best marketing strategy to promote business.

Google business helps you to advertise your add by providing PPC (Pay per Click) this works
on the strategy that when the user clicks on the advertise then only the advertiser has to pay for
the advertisement. Businesses that use professional Pay Per Click management services
 typically see a higher return on investment than if they manage advertisements
themselves.(Wordstream,2015)

3. Social Sharing to Property Pages:

Social sharing is a kind of digital platform where social media users broadcast web content on a
social network to their connections, groups, or specific individuals. One of the main aim of
corporate social media marketing strategies is to generate brand awareness by leveraging their
existing audience to share content.
Unlike advertisements or other marketing assets, social sharing is an organic form of promotion
generated by the public. Customers share products, blog posts, and inspirational images
because they want to. When social connections including friends, family, and colleague see
shared content, it resonates more than a message displayed directly by a business. Each time
individual shares an article, link, or promotion it has the potential to domino into a wide
network of potential customers. Once a post is shared or published, it is then seen by an entirely
new audience that can further spread it throughout their own network. Posts created with the
intent of gaining mass exposure through repetitive sharing is referred to as viral marketing
which helps you to reach maximum audience(Wordstream,2015).

4. Develop Virtual Staging:

Virtual Home Staging is a type of home staging in which an interior design is created in a graphic
editor provides an imaginary visual of the actual construction. Virtual staging is especially popular
among real estate brokers, photographers, and interior designers which helps them to showcase
their properties to their clients. The main objective of this kind of visualization is creating highly
realistic images of properties (usually for sale). The major advantages of virtual staging over
traditional home staging are time and cost, virtual staging is more than 90% cheaper than
traditional home staging. Virtual staging is sometimes done to market a untenanted home, as it can
offer many of the as it can offer many of the benefits of traditional staging at a comparatively lower
cost. About five to ten percent of online real estate listings use virtual staging (Hubspot,2018)

5. Partner with Local Business:

 Developing relationships with other local businesses is the main objective of any your real
estate marketing efforts. When local small businesses partner with other local businesses it helps to
create even more of an inducement for customers to do just that. Business to business collaboration is also
called 'cross promotion' or “co-marketing”, but the concept is too multi-faceted to describe in terms of
promotions only. There are many other ways in which two or more non-competing businesses can team up
to promote their mutual success.

I. Product Cross Promotion

Product Cross Promotion can be defined as the classic example of two businesses with similar
audiences who help to promote each other's products.

II. Services Swap

Not all collaborations are promotions for the public advertisement or public welfare. Two
businesses with same service7 can team up and arrange to swap services, saving each of them
money on necessary expenditures. A referral agreement signed between the businesses can make
this arrangement even more beneficial as both businesses will benefit from the referrals.

III. Get a Team of Allies

The sustainable world of competition is a lot easier to face for local businesses when you have a
team of allies on your side. Partnerships with other companies with improved goodwill can create
a cycle of mutual benefit that reaps big successes for small business owners.(Wordstream,2015)

6. Create A Virtual Tour:

Video is one of the highest engagement rate mediums in digital marketing. People like video
and it is more accessible than ever before. By producing high quality marketing videos of your
properties, publishing interviews, or creating high quality videos that showcase your company,
you can drive traffic from YouTube, Facebook, and other media. All these platforms offer
incredibly targeted advertising as well to increase your online reach.
Client’s time is precious, and they want to understand as much as possible about a property
prior to visiting in personal. Virtual tours are a great way to give a comprehensive, accurate
preview of the property for those who are potential buyers.(Wordstream,2015)
 1.7: Regulatory or Legal aspects related to the topic

This is an Act to establish the Real Estate Regulatory Authority for regulation and stimulation of the
real estate sector and to ensure sale of plot, apartment or building, or sale of real estate project, in an
efficient and transparent manner and to protect the interest of customers in the real estate sector and to
establish an arbitrating mechanism for fast dispute redresser and also to initiate the Appeal Tribunal to
hear appeals from the decisions or orders of the Real Estate Regulatory Authority and the examining
officer and for matters connected therewith.

The RERA Act aims at saving the rights and interests of customers and promotion of uniformity and
standardization of business practices and transactions in the real estate sector. It also attempts to
balance the interests of consumers and promoters by imposing certain responsibilities on both. It seeks
to initiate symmetry of information between the promoter and purchaser, transparency of contractual
conditions, set minimum standards of accountability and a fast-track dispute resolution mechanism.

OBJECTIVES OF RERA:

 ensure accountability towards allotters and save their interest;

 inspire transparency, ensure fair-play and reduce frauds & delays;
 establish professionalism and pan India standardization;
 initiate symmetry of information between the promoter and allotters
 imposing certain responsibilities on both promoter and allotters
 initiate regulatory oversight mechanism to enforce contracts;
 initiate fast- track dispute resolution mechanism;
 boost good governance in the sector which in turn would create investor confidence

KEY FEATURES OF RERA

 All builders and brokers will now have to disclose the original sanctioned plans and changes
made in the project at the later stage and duration of the time within which they will complete
the project.
 Each state will set up its own regulatory authority that has the responsibility to register and
regulate projects under the RERA Act. It will be the authority of each state regulator to register
real estate projects and real estate agents operating in their state under RERA. The details of all
registered projects will be put up on a particular website for public access.
 No builder can advertise or market the project, apartment or building without registering the
project with the RERA authority.
 After registering with regulatory authority, the developer has to update all the project details
online on authority's website and update the same on regular basis in terms of status of the
project and other information. This, in turn, will help the buyer to get accurate information
about the project and make informed decision while investing in the project. To provide clarity
to customers, builders will have to keep them informed of their other ongoing or upcoming
projects. The promoter is also required to furnish the following additional information and
documents at the time of registration of the project with the Regulatory Authority:
 In depth details of his enterprise including its name, address, type of enterprise (proprietorship,
societies, partnership, companies, competent authority), and the particulars of registration, and
the names and photographs of the advertiser;
 In depth detail of the projects launched by builder, in the past five years, whether already
completed or being developed, any delay in its completion, details of cases pending, details of
type of land and payments pending;
 a validate copy of the approvals and commencement certificate from the competent authority
obtained in accordance with the laws as may be applicable for the real estate project mentioned
in the application, and where the project is proposed to be developed in phases, an
authenticated copy of the approvals and commencement certificate from the competent
authority for each of such phases;
 an authorized sanctioned plan, layout plan and specifications of the proposed project or the
phase thereof, and the whole project as sanctioned by the competent authority, the plan of
works to be executed in the proposed project and the proposed facilities to be provided thereof
including fire fighting facilities, drinking water facilities, emergency evacuation services, use
of renewable energy;
 the locality details of the project, with clear demarcation of land dedicated for the project along
with its boundaries including the latitude and longitude of the end points of the project;
 Performa of the allotment letter, agreement for sale, and the conveyance deed proposed to be
signed with the allotters;
 the number, type and the carpet area of apartments for sale in the project along with the area of
the exclusive balcony or verandah areas and the exclusive open terrace areas apartment with the
apartment, if any;

 the number and areas for sale in the project;

 the names and addresses of the real estate agents, if any, for the proposed project;
  the names and addresses of the contractors, architect, structural engineer, if any and other
persons concerned with the development of the proposed project;
 declaration, supported by an affidavit, which shall be signed by the advertiser or any person
authorized by the advertiser.

o that he has a legal title to the land on which the development is proposed along with legally
valid documents with authentication of such title, if such land is owned by another person;
o that the land is free from all encumbrances, or as the case may be details of the encumbrances
on such land including any rights, title, interest or name of any party in or over such land along
with details;
o the time period within which he undertakes to complete the project or phase thereof, as the case
may be;
o that seventy per cent of the amounts realized for the real estate project from the allottees, from
time to time, shall be deposited in a separate account to be maintained in a scheduled bank to
cover the cost of construction and the land cost and shall be used only for that purpose.

Qua declaration to be submitted by the promoter, as stated above, following further conditions are also
to be met, namely:

 the promoter shall withdraw the amounts from the separate account, to cover the cost of the
project, in proportion to the percentage of completion of the project,
 that the amounts from the separate account shall be withdrawn by the promoter after it is
certified by an engineer, an architect and a chartered accountant in practice that the withdrawal
is in proportion to the percentage of completion of the project,
 that the promoter shall get his accounts audited within six months after the end of every
financial year by a chartered accountant in practice, and shall produce a statement of accounts
duly certified and signed by such chartered accountant and it shall be verified during the audit
that the amounts collected for a particular project have been utilized for the project and the
withdrawal has been in compliance with the proportion to the percentage of completion of the
project.
 For new projects, the promoter is required to declare the time period within which he intends to
complete the construction of the project, failing which, the registration will lapse. However, for
ongoing projects, the promoter is required to mention the extent of (i) the construction work
completed as per the last approved sanctioned plan of the project; and (ii) the development of
common areas, amenities etc. along with expected period of completion of on-going project,
which has to be commensurate with the extent of development already completed.
 Under the Act, the period of registration may be extended by the Regulatory Authority due to specified
force majeure events. In certain cases, it may be extended on account of reasonable circumstances but
such an extension shall not exceed 1 (one) year in aggregate. In addition to this, the Rules made under
RERA provide that the registration period may be extended, where actual work (as per the sanctioned
plan) could not be carried by the promoter due to

 (i) specific orders from any court of law or tribunal, competent authority, statutory authority, relating to
the project; or (ii) due to such mitigating circumstances, as may be decided by the Regulatory Authority.

 The developer has to pay penalty in case of delay in giving possession or return the total
amount with interest at a defined rate, as mentioned in the agreement of sale, to the homebuyer;
 A developer cannot ask for more than 10 per cent of the booking amount as an advance without
making an agreement for sale. Earlier, developers asked for 10 per cent of the total cost of
property as the booking amount;
 Promoters must have the consent of two-thirds of the buyers in a project before making any
change in the number of units or other structural changes. RERA prescribes penalties, including
imprisonment on developers who delay projects or do not deliver on promises. Developers are
required to disclose their project details on the real estate regulator's website, and provide
updates on construction progress;
 In case of any structural defect or poor quality, it will be the responsibility of the developer to
rectify such defects for a period of 5 years. Any structural or workmanship defects brought to
the notice of a promoter within a period of five years from the date of handing over possession
must be rectified by the promoter. For delayed possession, developers need to pay an interest
rate of 2 percentage points above State Bank of India's lending rate;
 Developers/builders are required to submit the original approved plans for their ongoing
projects and the alterations that they made later. They also have to furnish details of revenue
collected from allottees, how the funds were utilized, timeline for construction, completion, and
delivery that will need to be certified by an engineer/architect/practicing chartered accountant;

 Quality of construction in projects has been given significance under RERA based on protest
from buyers regarding poor quality of flats over the last few years. The regulator will ensure
protection to buyers in this matter for five years from the date of possession. If any issue is
highlighted by buyers in front of the regulator in this period including in quality of construction
and the provision of services, the developer will have to rectify the same in a matter of 30 days;
  Developers can't invite, advertise, sell, offer, market or book any plot, apartment, house, building,
investment in projects, without first registering it with the regulatory authority. Furthermore, after
registration, all the advertisement inviting investment will have to bear the unique RERA registration
number. The registration no. will be provided project-wise;

 After registering the project, developers will have to furnish details of their financial
statements, legal title deed and supporting documents;

 If the promoter defaults on delivery within the agreed deadline, they will be required to return
the entire money invested by the buyers along with the pre agreed interest rate mentioned in the
contract based on the model contract given by RERA;
 If the buyer chooses not to take the money back, the builder will have to pay monthly interest on each
delay month to the buyer till they get delivery;
 After developers register with the regulator, a page will be created for the builder on the
regulatory authority's website. The developer will be given login credentials using which it will
upload all the information regarding the registered projects on the regulator's website. The
number, type of apartments, plots and projects and their completion status will be updated at a
maximum quarterly basis;
 The regulator will have the power to fine and imprison errant builders based on a case by case
basis. The imprisonment can go up to a period of three years for a project;
 Imprisonment of up to three years prescribed for errant developers. A developer can sell only
on the basis of carpet area which will help home buyers understand what they will be paying
for each square foot they will get for use.

Chapter 2: Introduction to Midshipmite Industry

Real Estate Industry in India:

The area of the real estate industry in India is estimated by FICCI, to be around US$ 12 billion. This

figure is growing at a pace of 30% for the past few years. Almost 80 % of real estate developed in

India, is residential space and the rest comprise office, shopping malls, hotels and hospitals etc. This

growth is mainly attributed to the off shoring business, including high-end technology consulting, call

centers and software programming houses which in 2003-04, is estimated to have accounted for more

than 8 million square feet of real estate. This is the ideal time to invest in the country as policy makers

have begun to emphasize on developing adequate infrastructure for the country. Real estate agencies

would also do well to maximize their own performance and operational efficiency.

The future of the real estate sector in India is going to be guided by two important factors, namely
suitable amendments in the Foreign Direct Investment (FDI) guidelines in townships, housing, built-up
infrastructure and construction development projects as well as eradication of Service Tax on the
construction industry especially the residential sector. Conversely, if the eradication per se is not
possible then substantial modifications in the existing Service Tax norms is the need of the hour. This
real estate sector is already overburdened with taxes; any further imposition of taxes in any form
would drastically affect the growth of this sector of the economy.

The importance of the Real Estate sector, as an engine of the nation’s growth, can be gauged from the
fact that it is the second largest employer next only to agriculture and its size is close to US $ 12 billion
and grows at about 30% per annum. Five per cent of the country’s GDP is contributed by the housing
sector. In the next three or four or five years this contribution to the GDP is expected to rise to 6%. The
Real Estate Industry has significant linkages with several other sectors of the economy and over 250
associated industries. One Rupee invested in this sector results in 78 paise being added to the GDP of
the State. A unit increase in expenditure in this sector has a multiplier effect and the capacity to
generate income as high as five times. If the economy grows at the rate of 10% the housing sector has
the capacity to grow at 14% and generate 3.2 million new jobs over a decade.

Furthermore, this sector has witnessed a erupt in demand not just in residential property but also in
commercial property. A fast growing area is the I.T. and I.T.-enabled services along with the BPO
boom. Estimates worked out show that 42 million sq. ft. of space will be required every year till 2008,
only in I.T. and I.T.-enabled services especially in the cities like Bangalore, Chennai, Hyderabad and
Pune, which is also now gradually shifting to North India.

Overview Of The Industry-

To achieve the much desired growth and development in the Real Estate Segment, FICCI would like to
submit the following 10 points for consideration:

􀂾 Infrastructure Status to Housing: Infrastructure status should be provided to housing sector. This
will enable easier access to low cost institutional funds as also allow the sector to tap long term funds.
􀂾 Real Estate Mutual Funds: The Government should consider setting up of Real Estate Mutual
Funds/ Investment Trusts to provide the much needed support to the cash starved housing sector,
similar to the structures adopted for Estate Mutual Funds/ Investment Trusts in developed real estate
markets such as, USA, Singapore. Hong Kong, etc. Real Estate Mutual Funds/ Investment Trusts
would be an efficient mode for providing equity financing as against debt, which is currently the norm
for financing real estate developments in India.
􀂾 Stamp Duty: In some States the Stamp Duty is as high as 14- 15 % of the value of the transaction.
Astonishingly in the Indian context, not only are the rates high, but also the levy of Stamp Duty is
applicable in every subsequent transaction, be it the initial transfer purchase of land or on further sale
of the same land after development or any other succeeding transaction. Opportunely some states have
brought the Stamp Duty down to between 6-8 %, this should ideally be further brought down to 2-3 %
and made uniformly applicable across all states. However, if the above suggestion is not acceptable
then if stamp duty has already been paid on one transaction, there should be a mechanism in the law,
whereby there is a provision for concession or a system of credit for any subsequent transactions. This
would avoid the resultant cascading effect of Stamp Duty, thereby reducing the cost of a property. The
concept of credit for taxes paid on subsequent transactions already exists in other statutes such as
CENVAT, VAT, Minimum Alternate Tax (MAT), etc.

􀂾 Public Private Partnership: There is a need to evolve a regulatory framework that encourages
participation of the private sector in bringing technical and managerial expertise in formulating and
delivery of basic amenities like water, sanitation, sewerage, transport and electricity.
􀂾 Archaic Laws: Availability of land for housing projects has been constrained by a variety of laws
like the Rent Control Act and Urban Land Ceiling and Regulation Act, which must be repealed in all
the States. A necessary legal and policy framework has to be put in place to restrict growth of slums
and at the same time to re-develop the slums into hygienic and livable.
􀂾 Foreclosure Laws: The existing foreclosure laws are cumbersome as well as time consuming and
make it practically impossible for Housing Finance Institutions (HFIs) to repossess a dwelling unit
financed. HFIs are reluctant to take risk and continue to land primarily on salaried urban borrowers.
Amendment of (National Housing Board) NHB Act has already been initiated. The implementation
process needs to be expedited to bring in the required changes.
􀂾 Environmental Impact Assessment Notification: The notification specifies that no construction
activity to be taken up, inspite of the approval of plans by the Competent Authority, till the
environmental clearance has been sought. In cases where approval has already been granted it is
suggested that construction activities should be allowed. In the intervening period the builder /
developer can obtain the environmental clearance certificate. In the case of the environmental
clearance certificate being denied then appropriate action if necessary and warranted can be taken
against the developer / builder and builder be given time to get clearance before he applies for
completion certificate, otherwise the completion certificate will not be given Furthermore, in the case
of future proposed projects the environmental clearances should be taken by the States themselves or
by the planning bodies and not b individual builders.
􀂾 Land Acquisition: The Land Acquisition Act of 1894, still, to a large extent, governs the
procurement of raw land. With the changing investment scenario it has become necessary to review the
existing law, in order to ensure that private developers and colonizers procure the land directly from
farmers and land owners without putting undue financial burden on State/ Central Governments on
land acquisition for public purposes. Today, a builder is governed by “Agriculture Land Ceiling Act”
even after the land have been urbanized in the zonal plans / master plans. This makes builders to create
several companies in order to circumvent the archaic laws. It is submitted that once the land has been
urbanized and incorporated in the master plan, then Agriculture Land Ceiling Act should not apply and
builders should be permitted to acquire lands as per their requirements, for the development of
townships.
􀂾 Foreign Direct Investment (FDI): Suitable modifications in the FDI guidelines are required,
particularly in repatriation of funds, clarification on the basic definition of “built-up area”, streamlining
of Clearance procedures as well as the opening up of the Retail Segment to FDI. This aspect has been
discussed in detail in Section II of this paper.
􀂾 Service Tax: Service tax in relation to construction of residential complexes having more than 12
houses have been proposed to be introduced as a new service. However, no rationale has been provided
for exclusion of services in relation to construction of residential bungalows, which may not form part
of ‘residential complexes’.

2.3: (FutureTrends.. )
Real estate markets are poised to benefit from the government’s policy push towards reforms, speedy
completion of several infrastructure projects, emphasis on affordable housing, enhanced usage of
technology and an over-arching ‘can do’ spirit riding across private as well as public sector enterprises
today. Economic forecasts paint a positive story. The RBI survey of professional forecasters (August
2018) indicates that GDP is likely to grow at 7.4% in 2018-19, up from 6.7% in 2017-18, and is
expected to accelerate further by 20 basis points in 2019-20 on the back of support from private
consumption and investment. CPI inflation, (which has been a concern in the recent past), is expected
to remain at 4.7% in the annual forecast for median inflation (2018-19 and 2019-20). Apart from the
macro-economic indicators, inflection points observed within each category of real estate markets,
indicate overall stable growth in the medium term. This paper, titled Future of India Real Estate
Deciphering the mid-term perspective studies the current scenario in each asset class and analyzes
various growth drivers which will govern momentum in the medium term. Office markets, for
instance, will witness increased absorption in the suburbs of key cities and this will be a major
contributor to their future growth. Increasing participation from institutional investors, as well as
expected REIT listings will also act as drivers. Retail markets will see predictive analytics driving
product innovations and facilitating mall management. As per our projections, almost 18 mn sq ft of
retail space is about to be absorbed during the next three years, which is nearly 96% of the total supply
coming up in that period. Residential market, the key beneficiary of big bang reforms - RERA and
GST - will be driven by increased transparency, consolidation and a huge push to affordable housing.
We can see that almost every real estate participant wishes today, to partake of the affordable housing
pie, because that is where the future growth story lies. The paper observes that launches within the
price range of INR 40 lac were the highest during 2017 and in first half of 2018 across the country.
Other sunrise sectors like student housing and warehousing will also witness healthy traction. The
future for the warehousing sector looks bright, with India set to witness investments close to INR
50,000 cr for creation of warehousing facilities across the country between 2018 and 2020. In student
housing, the huge unmet demand, will act as a natural growth driver.

2.2: (Major players in the industry, Competitor Analysis, Market Share, Current
scenario)
 Chapter3: Introduction to the Company
3.1:(Organization profile- vision, mission, organizational structure,
products/services, departments etc.)
Midshipmite Recruiters has been immensely successful in creating a global network of highly adept
intelligent workforce that can help a company achieve their mission-critical projects and goals. With
our capabilities to serve all sizes of organizations, from small firms to multinational blue-chip clients
in marine shipping and associated industries, we are responsible for recruiting some of the industry's
finest talent.

As our company is greatly respected throughout the marine industry, able and competent candidates
frequently approach us, seeking career moves and a place on our large database. Keeping pace with
projects and being on the lookout for the extremely talented individuals has become ever more
challenging. Here is where Midshipmite Recruiters Pvt Ltd. comes into play to bring the best suited
talent for company.

SR REAL ESTATE:

SR Enterprises started in the year 2008 and it has evolved to be one the best real estate consultancy
firm available in the town. We aim at providing shelter to all the lost souls seeking for a place that can
be called a home more importantly we focus on giving them a place that makes them feel like home.
We do not provide our clients with just an apartment, we add the zest of life to it and give them a
home.

SR Enterprises comprise of a team having passionate professionals who are specialised in the real
estate industry. We deals into both residential and commercial spaces and we provide our clients with
exactly what they require. Our employees are updated with all market trends and understand the
criticality of making a good investment so every time you work with us we ensure that we provide you
with the best of what is available in the market.

As a Brokerage Firm in sales and leasing, we offer a complete and professional approach to your real
estate requirements.

SR Enterprises started in the year 2008.The business then continued to grow for the next seven years,
until it was felt that the agency needed to make the move towards a new and unique brand.

SR Real Estate signifies an energetic and contemporary future in property services.

 We give you the house of your dream through our enormous data we can provide you with the house
that you love living in, but we combine that with our traditional and familiar practices of providing no
nonsense, down to earth advice and service. We offer an advanced and innovative approach towards
real estate and how to market, lease and sell property using new and progressive marketing platforms
and methods, particularly within the ever-expanding digital era of marketing and all that it has to
offer. You can expect to see an enhanced array of marketing ‘solutions’. At SR Real Estate we love
talking about real estate and connecting with people from all walks of life. We would invite anyone to
drop in, speak to our team and see what we are all about!

The ‘SR’ team offers over 12 years of real estate experience in real estate sales and all facets of
property management. As an independently owned agency we have an inherent passion for our local
area, strong ties to our community and an intimate understanding of our market. The quality of our
service and the level of care we bestow on our clients set us apart.

We are a close-knit team of enthusiastic and dedicated real estate professionals who love the area and
love property. We are always on hand to provide astute insightful advice on all your property needs.

We’re committed to clever, cost effective marketing tailored specifically for you. Our results speak for
themselves and the level of repeat and referral business we receive is a true testament to the dedication
we show our clients.

Operating with a select portfolio of listings ensures our sales team can give a truly exclusive level of
service, while the property management team ensures your rentals are well looked after and make the
rental experience for both property owners and tenants enjoyable.

The following service charges are applicable for all property transactions.
RENTAL TRANSACTIONS

Services in Locating a Property

 Identify suitable properties matching to Tenant's requirement
 Participate in negotiations of the Lease terms with the Owners
 Assist in preparation of Lease Deeds
 Advice Tenants on the Market Trends

Services in Fixing a Tenant

 Identify suitable Tenants who qualify your requirement
 Participate in negotiations of the Lease terms with the Tenants
 Assist in preparation of Lease Deeds
 Advice owners on Market Trends
Brokerage Charges
 Residential / > *One month rent each from both parties
Commercial with
or without fit out
/ Industrial
 Renewal of Lease > 15 days commission for any renewal of
lease from the LESSOR and LESSEE or
the approaching party.
 Temporary rental
accommodation: > ¼ month rent as commission from both parties> ½ month rent as
 Upto 3 months commission from both parties> 1 month rent as commission from both
 4 - 6 months parties.
 Any lease beyond 6 2% commission from both parties
months
Rental deposit exceeding
15 months
3.2:(Description of the HR/Marketing /Finance /Operation processes:Should include
block diagrams, models for showing the processes, major operations,compositions,
process conditions & regulatory aspects etc.Mention assumptions, if any &
management technologies used for regulation purpose.)
 3.3: (Products,Plants,Capacity,Turnover,Market share etc,SWOT Analysis)
SWOT Analysis
1. Strength:

 Well trained and professional Sales Team

 Availability of recent Technology for Working Effectively

 250+ active Real Estate In house Channel Partner

 Association with all the A-Graded Builders

 Predefined and streamlined process

2.Weakness:

 Demonetization has hampered retailers through cash shortages due

to which commercial real estate demand has been hampered.
 Foreign Investors are not keen to invest in Indian Real Estate
Sector due to bureaucratic procedures for project approvals and
corruption.
 Lack of infrastructure is another deterrent for the Indian Real EstateSector.

3. Opportunities:

 Growing Urbanization and Economic Expansion open up potential for

commercial real estate market growth.
 RERA(The Real Estate (Regulation and Development) Act, GST(Goods
and Services Tax) and REITs(Real Estate Investment Trusts) have been
implemented which is encouraging investor sentiment for real estate
especially the commercial real estate segment.
 The growing young population of India supports strong demand for both
residential and commercial properties in India.
4. Threats:

 The Indian Real Estate Sector is still highly unorganized with lots of middlemen.
 Online Portals such as 99Acress , Magic Bricks would be influencing towards
consumer decision making.
  Indian economy is growing in an uneven manner and the environment is
unpredictable.
● Demonetization has resulted in shortage of cash and low transactions in property
market and leasing activity due to large involvement of cash component

Political Analysis:

● Political influences and sanctioned projects such as: The Smart City Project Influence
and affect the real estate market
● The Securities and Exchange Board of India (SEBI) has proposed easier regulations
for real estate investment trusts(REITS)
● The Rajya Sabha or the Government of India has brought into force the Real Estate
(Regulation and Development) Act,2016.

Environmental analysis:

● Okhla Bird Sanctuary As per the new draft notification, no new commercial Activity
will be allowed within the eco sensitive zone

Sociological Environment:

● Demographic: India represents 17.5% of the global population.

● Education: The adult literacy rate in 2006 was62.8%
● Health: In India, 29.8% population lives below the national poverty line in2010.
● Jobs in India: The employment rate in 2011 for the population aged 15 and above is
53.6%.
● The unemployment rate of labor force is of3.6%

Technological Environment:

● Usage of internet for booking, renting and buying property online. Some of the
top players of web based real estate companies are 99acres, Housing.com and
commonfloor.com.
● Change in construction pattern over the years which resulted in high raised
earthquake resistant buildings.
● Usage of pre-fabricated constructions and dry wall technology has been
introduced to India Malaysia, Thailand and China.
● Studio apartments are in trend for fully automated functioning.

Legal environment:

● Introduction of Real Estate regulatory bill

● Loans and investments by company
● SEBI regulations for real estate investment trusts(REITS)
Economical environment:

 New investments proposed by the government such as Rs 7,060 crore to build 100 smart
cities.
 Investment friendly tax reforms can act as an economical tool to revive almost dead India
economy.
 Ease of availability of financiers will aid the government in achieving its ‘home to all by
2022’program.
 FDI norms have been modified to attract foreign players in Real Estate sector.

The smart city project and the make in India campaign has created a positive image of India
at international level

● The rapid urbanization has played a key role in growth of real estate which is not
just pushing the building blocks but also introducing western technology and
machinery usage for providing the dream home to consumers.
● Now looking overall analysis and introduction of real estate bill is a big milestone
achieved by government which would be building the gap between consumers
and developers which would result in increased GDP contribution of real estate
industry into Indian economy.
 Chapter 4: Research Methodology

Research methodology is a way to systematically solve the research problem. It may be

understood as a science of studying how research is done scientifically. The scope of research
methodology is wider than that of research methods. This chapter states the Methodology
adapted for the study by the researcher. It includes Title, significance of the study, statement of
the problem, aims and objectives, research hypothesis, research design, tools for data collection,
statistical testing, definitions, limitation of the study, chapters of the study.

In the real estate professions, there are many prescribed methods for obtaining market data and
other critical information. Indeed, there were some early attempts to reconcile the appraisal
process in the context of the scientific and other research methods.2 In many instances, real
estate issues predictably lend themselves to quantifiable data. After all, much of real estate can
be described in terms of square footage, acreage, sale prices, interest rates, and other precise or
nearly precise measurements. However, properties do not make deals with each other, people do.
Behind every statistic is a person. Real estate market participants have particular backgrounds,
motivations, and expectations. Furthermore, there are innumerable perceptions towards a
property, a neighborhood, and a region that can influence buyers, sellers, tenants, lenders, and
others involved in real estate markets. These perceptions and special motivations, while perhaps
having a direct impact on sale prices and other quantifiable data, also affect issues that may be
more qualitative in nature. This qualitative information can be an essential part of the overall
picture of the real estate markets.

37
 Types Of
Research

Application Enquiry
Objective Mode

Pure Discriptive Quantitavive

Research Research Research

Applied Exploratory Qualitative

Research Research Research

Figure: 1.2 Block Diagram of Research Design:

4.1. Research Design

Research design is the conceptual structure within which research is conducted; it constitutes the
blueprint for the collection, measurement and analysis of data. The type of research design used in
the project was Descriptive research because it helps to describe a particular situation prevailing
within a company. Careful design of the descriptive studies was necessary to ensure the complete
interpretation of the situation and to ensure minimum bias in the collection of data.

Qualitative Research Design: Qualitative research is implemented in cases where a

relationship between collected data and observation is established on the basis of mathematical
calculations. Theories related to a naturally existing phenomenon can be proved or disproved
using mathematical calculations. Researchers rely on qualitative research design where they are
expected to conclude “why” a particular theory exists along with “what” respondents have to say
about it.

38
Quantitative Research Design: Quantitative research is implemented in cases where it is
important for a researcher to have statistical conclusions to collect actionable insights. Numbers
provide a better perspective to make important business decisions. Quantitative research design
is important for the growth of any organization because any conclusion drawn on the basis of
numbers and analysis will only prove to be effective for the business.

Descriptive Research Design: In a descriptive research design, a researcher is solely interested

in describing the situation or case under his/her research study. It is a theory-based research
design which is created by gather, analyze and presents collected data. By implementing an in-
depth research design such as this, a researcher can provide insights into the why and how of
research.

Diagnostic Research Design: Here researcher wants to know about the root causes of the
problem. He describes the factors responsible for the problematic situation. It is a problem
solving research design that consists mainly:

a. Emergence of the problem

b.Diagnosis of the problem
c. Solution for the problem and
d.Suggestion for the problem solution.

4.2: Sources of Data

Both Primary and Secondary data collection method are used in this project. Primary data
is data originated for the first time through direct efforts and experience, specifically for the
purpose of addressing his research problem. Also known as the first hand or raw data. Primary
data collection is quite expensive, as the research is conducted by the organisation or agency
itself, which requires resources like investment and manpower. The data collection is under
direct control and supervision of the investigator.

39
The data can be collected through various methods like surveys, observations, physical testing,
mailed questionnaires, questionnaire filled and sent by enumerators, personal interviews,
telephonic interviews, focus groups, case studies, etc.

There are various methods which are used for collecting the data are as follows:
 Questionnaires: It is mostly used while doing the survey and the researcher collect
the data based on the questionnaires based on his/her research topic and it consists
of Yes/No questions and its responses are presented in the graph or table format
(Sekaran and Bougie 2010).
 Interviews: The interviews are the research method which are used to collect the
relevant data from the experts or to get the in-depth information from the people
related to the research topic and there are different types of Interview methods
such as focus group, Structured and semi-structured (Sekaran and Bougie 2010).
Interviews involves a direct interaction and a personal contact with the participants
(Fisher 2005; Wilson 2003).
 Observations: This is the method which involves in observing the behavioural
pattern of the target people, events or objects (Lambert & Loiselle, 2007).
 Case studies: Case studies is the qualitative research method which helps in giving
the real-life incidents or situations which also helps to get the detailed information
about the issues which are mentioned in the research paper (Tony Hak & Jan Dul
2007).

4.3: Data Collection Tools and Techniques

There are different types of data collection, i.e. quantitative information collection, and
qualitative information collection. The data collection methods that come under the quantitative
type include Surveys and Usage data.

The data collection methods that come under qualitative type include Interviews and Focus
Groups.

40
Data Collection Techniques Data Collection Tools

Case study Wikipedia, Reonomy, Rental Property

Analysis.

Interviews Telephonic Interview

Survey Google Form

Observation Focus Group

Figure: 1.3 Block Diagram of Data Collection Tools and Techniques

4.3.1. Qualitative data:

Qualitative data is mainly used to focus, use the data which is valid and makes it simple.
The other advantage of the qualitative date is to give the detailed description of the
research and do the analysis of the study. It was difficult for the researcher to conduct
more interviews because of lack of time and lack of availability.
Qualitative data is the integration of interviews, fieldwork observations, observations,
questionnaires, documents and texts.

4.3.2. Semi-Structured Interview

Flick (1998:76) refers that the interest in semi-structured, face-to-face interviews which is
linked to the expectation that the participant point of view is clearer and expressed than
non-face-to-face questionnaires. The qualitative research involves interviews which have
open-ended questions to get the relevant data from the participant. Semi-structured
interview is more relevant and appropriate to collect the complex and difficult information
with a higher proportion of open-based information.
Mays N, Pope C; 2000 Jan 1320(7226):50-2 Jan states that there are some advantages and
disadvantages of semi-structured interviews which such as It helps in collecting the
41
complete information, it has the higher response because it gives personal interaction as
compared with other methods, the changes can be made in the interview schedule which is
based on the initial results.
The disadvantages are such as analysis of the data is difficult when there is lot of
qualitative data, it is difficult when there are large numbers of participants, there can be
biased due to fatigue and too much involved with the interviewees.

4.3.3. Time Horizon

To study on the current situation of Real Estate Sector, researcher has used to get the more
in depth about the issues and the possible solutions and to know more about the current
scenario, researcher decided to conduct Interview as a research method to find out the
possible solution on the road infrastructure issues in India.
There are two types of time horizon as per Saunders et al; 2012, there are longitudinal and
cross-sectional time horizon. As per this research there was limited time for a specific time
which employs cross-sectional time horizon.

Conclusion: Researcher decided to choose Interviews as a research method because

interviewing is a powerful way of getting insights into interviewee’s point of view, it can go
hand in hand with other methods in providing in-depth information about participants
beliefs and inner values which would allow researcher to investigate participants external
behaviour and inner beliefs (Robson 2002, Ho, 2006:11). But researcher believe that only
interviewing will not give the richer data and validating the research findings, so
researcher decided to use Porters Five Forces model which will to assess and evaluate the
current market environment and strategies which may helpful for the organization in
future (Porter 1980). Researcher also used PESTLE analysis which will help in reducing the
impact and effects of threats for garment and textile industries and for PPP as well. PESTLE
analysis will enable the researcher to find the new strategies and opportunities for Real
Estate Sector. Researcher decided to use case study research method which will help the
researcher to examine the real-life situation. Researcher will be using Interviews and Case
studies as the research method, but to support these methods and to get rich data and in-
depth information researcher have also used Porter 5 forces model and PESTLE analysis.

42
4.4: Sample Design

Our firm covers the area of Navi Mumbai and mainly deals into the area of Kharghar, Belapur,
Seawoods, Nerul and Sanpada. Hence the researcher decided to take interviews of the brokers
which mainly deals into the area of Navi Mumbai especially Belapur. The researcher took
interview of the brokers which deal into residential as well as commercial property. Hence the
sample size of the interview were n=10.

The researcher also decided to survey those clients who were generated as a lead to the firm. To
check the customer satisfaction and dissatisfaction the researcher prepared a questionnaire to
study in depth the requirements of the client and to find the solutions to the problem.

43
 Chapter 5: Data Analysis and Interpretation
(Tables, graphs, statistical techniques etc.)

Chapter 5 will help in giving the overview of the research which will help in finding the results,
discussion and analysis are based on literature review, content, research methods, interviews of
the public and private officials with an aim to give the detailed information and details from the
data collected. The data which was analyzed as per the research objectives and questions helped
in finding the results. This research findings and results and analysis was divided into two parts
which is descriptive and statistical.
This last chapter helps in representing the final analysis and results and evaluations.

44
 Chapter 6: Conclusion &Suggestions

Present Scenario in India

Up to the end of 2007 real estate sector in India was growing at a very high rate. There was a
situation of boom in this sector. The home loans were easily available and RBI was following
very liberal policies regarding the interest rates. But in 2008 the things are changing due to the
high rate of inflation in the Indian economy. There is uncertainty in the market as share market is
showing depression and the RBI is also increasing the Bank rate leading to the increase in the
interest rates. So the buying power is reducing. The major reasons for this downfall are inflation
and the low rate of GDP.

6.1:Findings

• As the GDP increases the real estate prices also increases because there is a high degree of
positive correlation between the real estate prices and GDP.

• Real estate prices also increases with increase in the per captaincies as there is high degree of
positive correlation between these two also.

• The infrastructure of India is also growing day by day so it adds to the better facility to
different sectors which affect the real estate prices.

• The FDI into the country affects the real estate FDI and real estate having a positive correlation
leads to the boom in this sector. Increase in FDI from 2006 to march 2007 is 10%. Earlier it was
16% and now in2008 it is 25%.

• The interest rate also affects the real estate prices because it affects the lending and borrowing
by the investors.

• The growth in the real estate sector is between 25-30% in a residential Sector, 10-15% in
commercial sector and agriculture sector.

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• Housing sector constitute 80% of real estate in terms of value and 20%
by commercial sector.

• In residential segment, availability of easy home finance and rising purchasing power has
driven the growth. Builders are launching high-end, life style residential products to cater to the
growing bunch of high net worth individuals.

• In 2008 the growth of real estate sector is going down due to high inflation and hike in home
loan rates by the banks following the increase in bank rate and SLR by the RBI

• The outsourcing and IT/ITES industry have contributed to the demand for quality office-space.
The estimated demand from IT/ITES sector alone is expected to be 150mm sq. ft. of space across
the major cities by 2010.

6.2: Suggestions

The following recommendations are made this paper-

• Due to high prices the lower income group is not able to purchase the shops, so company
should take kept in mind to protect the lower income group.

• The agriculture land covered into the commercial and residential purpose. But the population is
also increasing day by day. So company should steps for the same.

• The investors should analyze the type of project in which they are

going to invest and the potential returns from it.

• Privatization of Airports and ports needs to be speed up.

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• There is a lack of proper data and management of the real estate sector so company should take
the corrective steps in this regard so that the proper estimation and management of the real estate
can be made possible.

• Commonwealth is scheduled for 2010. Hotels, sport stadiums another infrastructure to have
successful games need to be expedited. This is another great opportunity for foreign developers
and investors to step in India. Thus more and more encouragement should be given to foreign
investors.

• Stamp duty is extremely high and must be rationalized and brought down to 2-3% as per global
practice, which is now in India varies from 5- 6%.

• Due to lot of investment avenues in real estate in India, fraud cases are
also increasing day by day like in Delhi deconstruction of buildings. Thus

Careful measures and laws should be enacted to deal with these types of situations.

6.3: Limitations

Due to limitation of time a sample size of only 25 respondents chosen

 The Survey was carried through Questionnaire and the question were based on perception.

 The Sample for research was chosen only from a limited area.

 Some of the respondents may be biased in giving responses.

 Complete data was not available due to company privacy and secrecy

 This conclusion and recommendation made are based on a very less

experience of researcher in this field.

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 6.4 : Conclusion

After studying all the factors of the real estate it can be concluded that the Real Estate is a very
wide concept and it is highly affected by the macro-economic factors like GDP, FDI, per capital
income, Interest rates and employment in the nation. The most important factor in the case of
Real Estate is location which affects the value and returns from the Real-Estate. India needs a
stronger capital market base for property financing. The debate on the potential introduction of
REITs and real-estate funds points in the right direction. The introduction of REIT s in2007, will
give international investors in particular a familiar investment vehicle. Private investors could
also enter into indirect investment in real-estate. Although interest in new projects is most likely
to come primarily from institutional investors, the rising middle class is likely to seek new
instruments aside from direct property investments in the medium term’s, in the end we can say
that the investment in Real Estate in India is aviary good investment opportunity. But one should
be very careful while taking decision in this direction due to rising inflation and interest rates.
Legal issues should also be kept in mind while choosing a property.

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 Chapter 7: Learning Experience from the project

India has enormous potential in all its property investment categories. Strong population growth,
a large pool of qualified workers, greater integration with the world economy and increasing
domestic and foreign investment are fuelling demand for office, retail and residential property.
Although not discussed in depth in this paper, this demand growth can also be applied to many
special property classes, such as hotels or second homes. Going forward, it will be a matter of
exploiting this potential. For the real estate industry, three aspects are most particularly
important. First, further opening to foreign investment is desirable. Not only do international
investors have the means to finance new construction projects, but also possess the expertise in
market analysis, facility anagement and building construction. In the medium term these will act
as catalysts to bring greater transparency to the market. Second, India needs a stronger capital
market base for property financing. The debate on the potential introduction of REITs and real
estate funds points in the right direction. The introduction of REITs in 2007 will give
international investors in particular a familiar investment vehicle. Private investors could also
enter into indirect investment in real estate. Although interest in new products is most likely to
come primarily from institutional investors, the rising middle class is likely to seek new
instruments aside from direct property investments in the medium term. Third, the government
needs to step up developing the urban infrastructure. In recognition of this, India’s finance
minister Shri P. Chidambaram presented an extensive urban investment package during his
budget speech for fiscal year 2005/2006: “If our cities are not renewed, they will die.”40 In
December 2005 the Jawaharal Nehru National Urban Renewal Mission estimated that the
selected 63 cities will require annual investments of USD 4 bn. Roughly half of this is for the
seven biggest cities. In his latest budget speech on February 28, 2006 the finance minister also
announced that the government wishes actively to promote the establishment of new towns.41
Channelling the process of urbanisation into new agglomerations is a plausible step, given the
growth scenarios for the metro cities. But it requires additional funding and is likely, at best, to
make an impact on real estate markets in the medium term.

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Response Variance Across Sample Characteristics. The sample was tested to see whether the
responses to the practice questions varied significantly relative to a number of control factors.
The factors tested were: Real estate portfolio size CRE team size CRE&FM operating budget
size Professional membership (73% of the sample are industry association Core Net Global
members) CRE organization structure Industry sector Enterprise annual revenue Total number of
enterprise employees No significant differences across responses were found based upon these factors. The only
difference in means that was greater than 1 (i.e. one point difference in average response on the 1-7
scale) was the difference between the lowest and highest industry sectors. Regus Global Report
Corporate Real Estate Impact on Enterprise Success April 2011 Findings: Fundamental CREM
management Practices The study collected information regarding four fundamental corporate
real estate practices: organizational structure, budget control, CRE reporting and use of suppliers.
Responses were limited to four choices. The responses are informative on their own, and were
also compared to the practices maturity scales to see if any of these fundamental characteristics
correlated with the survey results, as discussed above. There is very little information published
documenting the relative distribution of these practices, and the results shed light on some frequent debates.
Further, one question solicited the opinion of the survey respondent regarding senior management’s view of CRE
.Given the increase in tele work (where employees are allowed to work from home or another
location) and implementation of alternative workplace strategies (AWS), the survey also
enquired into current telework and AWS practices, and asked respondents to predict future
policies and practices regarding alternative work and sustainability at their company. Fundamental
CRE Practices Among the four generic approaches to CRE organizational structure presented in
the survey, a hybrid of functional and geographic operations was most commonly cited, possibly
due to the global scope of many of the participating companies. The rest evenly balanced
between either functional or geographic driven organizational structures, as shown in Figure
2. None of the participating companies managed corporate real estate at the business unit
level. Figure 3 summarizes the budgetary control and real estate cost charge-back policies at the
companies surveyed. The most common practice is to budget and manage CRE costs centrally
and then recharge all costs back to business units. There is a fairly even spread across the other
three methods. In the majority of the organizations (78%) the central CRE function has control
of the overall CRE budget and through this

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should be able to strongly influence and drive improved practice and policies consistently across
the entire portfolio. Figure 2: Basis for CRE Organization Structure Figure 3: Budgetary Control
and Recharging Practices. The distribution of where the CRE function reports into the overall
corporate management reporting line is also quite diverse across the sample. Corporate Real
Estate Impact on Enterprise Success The survey collected information about the level of activity
where suppliers are used. The results are shown in Figure 5. Given that the survey was targeted
at the largest corporate occupiers who would potentially be best positioned to benefit from
integrated services across the globe, it may be surprising that 38% of the respondents only use
suppliers tactically at a local or national/regional level. At the other end of the spectrum, an
equal proportion of respondents engage suppliers on an “an international level based around a
limited number of principal relationships responsible for integrated solutions across a wide range
of functions and/or countries.” This points to a considerable growth potential for the major
international service providers, as over 60% of those surveyed aren’t currently using integrated
solutions on an international basis.

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Annexure

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BIBLIOGRAPHY

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