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
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 (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)

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 (ii)
PLEASE PASTE HERE THE CERTIFICATE FROM THE COMPANY

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 (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 2019at
MIDSHIPMITE RECRUITERS PVT LTD

Date :___________

_____________________ _________________
Prof.ManishaWaghmode Dr. Anjali Kalse
Project Guide I /c Director
BVIMSR BVIMSR

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 (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 you 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.

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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 empaneled developers deeper into the markets via brokers in
theSR 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.

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 (v)
TABLE OF CONTENTS
PARTICULARS PAGE NO:
Acknowledgement (i)
Certificates (ii)
Executive Summary (iv)
Table of Contents (v)
1. Introduction of the Project 8
1.1 Concept Significance & Need of Study
1.2 Objective Of Study
1.3 Scope Of Study
1.4 Introduction to Topic
1.5 Literature Review
1.6 Regulatory & Legal Aspects

2. Introduction to Real Estate Industry

2.1 Real Estate Industry Of India
2.2 Future Trends
2.3 Major Competitors
2.4 Current Scenario

3. Introduction to Company
3.1 Organization Profile
3.2 Functions Of Marketing
3.3 SWOT Analysis
3.4 PESTLE Analysis

4. Research Methodology
4.1 Research Design
4.2 Sources of Data
4.3 Data Collection Tools & Techniques
4.4 Sample Design

5. Data Analysis

6. Conclusion & Suggestion

6.1 Suggestion
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 6.2 Limitations
6.3 Conclusion

7. Learning Experience of Project

8. Annexure

9. Bibliography

Chapter 1: Introduction of the Project

1.1: Concept & Significance & Need of the Study

“An analytical study on brand promotion and marketing strategies for enterprise development in real
estate sector”. Brand promotion is the way to inform, remind, persuade convincingly, and influence
the consumers to drive their decision towards purchasing the product or service under a brand.
Marketing force of a company conducts brand promotion primarily, though the wholesalers and
retailers also can do it (Smriti Chand, 2018)

Brand promotion is required to −

 Promote information related to features, prices, and special schemes of the brand.

 Differentiate the product by convincing the customers about the unique features of the brand.

 Create and increase the demand for the product.

 Build brand equity.

 Stabilize the sales affected by natural, social, or political changes. For example, Nescafe
promoted its new brand of 'iced coffee' to increase sales during summer.

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  Outperform the competitor’s marketing efforts: In a highly competitive market, even a well
established brand has to be promoted to retain market share. For example, Coca Cola and
Pepsi work to nullify each other's efforts.

 Build positive brand image.

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.( DW Cravens, N Piercy – 2006)

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. (SC Jain, GT Haley, R
Voola, M Wickham – 2000)

Marketing Mix is a part of marketing strategy. The marketing mix is the set of controllable, tactical
marketing tools that a company uses to produce a desired response from its target market. It consists of
everything that a company can do to influence demand for its product. It is also a tool to help
marketing planning and execution. (RT Rust, KN Lemon, VA Zeithaml - Journal of marketing, 2004)

The four Ps of marketing: product, price, place and promotion.The marketing mix can be Commented [s1]:

divided into four groups of variables commonly known as the four Ps:

1. Product: The goods and/or services offered by a company to its customers.

2. Price: The amount of money paid by customers to purchase the product.
3. Place (or distribution): The activities that make the product available to consumers.
4. Promotion: The activities that communicate the product’s features and benefits and persuade
customers to purchase the product.

Marketing tools
Each of the four Ps has its own tools to contribute to the marketing mix:

 Product: variety, quality, design, features, brand name, packaging, services

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 Price: list price, discounts, allowance, payment period, credit terms
 Place: channels, coverage, assortments, locations, inventory, transportation, logistics
 Promotion: advertising, personal selling, sales promotion, public relations

Marketing strategy
An effective marketing strategy combines the 4 Ps of the marketing mix. It is designed to meet the
company’s marketing objectives by providing its customers with value. The 4 Ps of the marketing mix
are related, and combine to establish the product’s position within its target markets.

DEFINITION OF REAL ESTATE:

Real estate is the property, land, buildings, air rights above the land and underground rights below the
land. The term real estate means real, or physical, property. “Real” comes from the Latin root res, or
things. Others say it’s from the Latin word rex, meaning “royal,” since kings used to own all land in
their kingdoms. The U.S. Constitution initially restricted voting rights to only owners of real estate. S
(Hudson-Wilson, FJ Fabozzi… - The Journal of Portfolio …, 2003)

Four Types of Real Estate

There are four types of real estate:

1. Residential real estate includes both new construction and resale homes. The most common
category is single-family homes. There are also condominiums, co-ops, townhouses, duplexes,
triple-deckers, quad lexes, high-value homes, multi-generational and vacation homes.
2. Commercial real estate includes shopping centers and strip malls, medical and educational
buildings, hotels and offices. Apartment buildings are often considered commercial, even
though they are used for residences. That's because they are owned to produce income.

1. Industrial real estate includes manufacturing buildings and property, as well as warehouses.
The buildings can be used for research, production, storage, and distribution of goods. Some
buildings that distribute goods are considered commercial real estate. The classification is
important because the zoning, construction, and sales are handled differently.

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 2. Land includes vacant land, working farms, and ranches. The subcategories within vacant land
include undeveloped, early development or reuse, subdivision and site assembly. Here's more
at Land Broker Transactions.

Need of the Study:

Real estate plays a critical role in the development of the Indian economy. It is the second largest
employer after agriculture. Over the next decade, the real estate sector is expected to grow by 30 per
cent. The sector is divided into four sub-sectors: housing, retail, hospitality, and commercial. The
housing sub-sector contributes five-six per cent to the country's gross domestic product (GDP).
Meanwhile, retail, hospitality and commercial real estate are also growing significantly, catering to
India's growing needs of infrastructure.

The construction industry ranks third among the 14 major sectors in terms of direct, indirect and
induced effects in all sectors of the economy, according to a study done by ICRA. A unit increase in
expenditure in this sector has a multiplier effect and the capacity to generate income as high as five
times. The positive effects of growth in real estate sector are spread over more than 250 ancillary
industries.

Hence to make the most of it, one needs to promote or Market their products and services to the
Investors. So the project helps me to understand how Marketing Strategies such as Advertising,
Personal Selling, Sales Promotion, Public Relation, Direct Marketing and other methods are used
in the ever growing sector of Real Estate.

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 1.2: Objective of the Study

 To Create strategies for improving Brand Positioning and Brand Awareness

 To offer Wide Range and Affordable Property List in order to get more leads.

 Research and analysis of properties in order to buy or sell the properties on behalf of Clients.

 To offer Financial Assistance and guidance for Property Seekers

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  To Create the Chain in order to create a strong Property Referrals.

 To improve the Pre and Post Sales Customer Service

 To create the strategies for Sales Promotion and Advertising of properties.

1.3: Scope of the study

This will help us to know the market trends, demand and consumption patterns, future prospectus in
term of potential growth, consumer test and buying behavior for the S.R Real Estate commercial
products and other aspects related to marketing and sales promotion. The objective of the project
includes Business Development at S.R real estate. The company has entered the Real Estate sector
twelve years back, so the basic aim of this project is Business Development that is generating business
for them by attracting customer to the newly launched Residential and Commercial projects and for
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property on lease basis. This would include structuring of the entire business so as to increase the
efficiency of the work done at S.R Real estate. The project would enable Earth S.R real estate in
Business development of their properties by reaching to the maximum number of investors. It also
aims at developing promotional strategies to increase the number of customers purchasing their
property. The project will also help in measuring the investors’ preferences for investing in any
property. In short following few aspects were taken care of throughout this study:-
(WB Brueggeman, JD Fisher – 2011)

 Studying marketing strategies to develop business.

 Identifying the attributes those compel the clients to select the product.

 Studying about the relationship and association of the client with the company.

 Identifying the client’s response while dealing with Business Development Executive.

 Popularity of company product among customers.

 Customer’s opinion towards Projects.

Knowing about the awareness of customers for various properties in local area.

1.4: Introduction to the topic

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The realty 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.( SP Jarchow - 1988 )

Mumbai is the costliest city to live in Asia. To understand real estate marketing one should at least
have the minimum knowledge required to step into the complex industry. Out there, plenty of smart
operators 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 your onions and the deep layers beyond the
skins it helps to get the best.( G Squires, E Heurkens – 2014)

The purchasing power of the new generation of Indians has increased. They are investing in real estate
in a big way- in terms of investment and assets. People have acquired refined tastes in housing needs
and become professional in dealing with builders. Financial companies and banks have given a boost
to real estate marketing as well. To add to this the government has allowed foreign investors also to
test the market conditions here have helped. Every area 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. (J Nijman - Economic and Political Weekly, 2000 )

As more opportunities grow for people to work they also wish to invest in places close by to live in.
Builders or developers in various regions are now separately marketing each space. Even home loan
companies and banks are independently marketing the properties they are giving loans. This helps
them to guide their dedicated clientele and ensure the marketing trends remain closely monitored for
future development.( LG Searle - International Journal of Urban and Regional …, 2014 )

They generally have 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 portfolio to attract customers. Various tie ups with groups in India and
overseas have taken place this year with increase in FDI. MGF Developments based in New Delhi
Properties based in Dubai have joined hands in the first quarter of 2006 for investments within the
country.( AA Ring, JJ Dasso – 1977)

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Nowadays most of real estate focus is on shopping malls and residential complexes. In some areas
down south, the thrust is on IT parks, and corporate offices and resorts.

However, on the other side everyone or every other executive does not feel the real estate sector in
India is being well marketed or managed. Yes, there are some gray areas, which need to be covered up.
For instance, 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 obviously makes it difficult for them to do
business. The potential is there but it needs to be tapped wisely. A proper way is to have real estate
marketing with the right professionals. Everyone wants to cash on the business.

After one and a half years 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 years to come. While a
differential pace of strengthening 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
fears of a possible double dip recovery have given way to beliefs in the sustained healthy levels, if not
a rapid growth (R Venkatesh - ICFAI Journal of Services Marketing, 2008 - search.ebscohost.com).

The experience thus gained in this slowdown is invaluable 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 yesteryears. And, if we have taken our lessons right, ‘caution’ and ‘diligence’ would
be the keywords for the industry in the medium term.

On one hand, the stakeholders can’t afford to sway 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 and pragmatism.

The year 2011 would usher 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 opportunities with pragmatism.

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 Commercial Real Estate
o Office rents to start appreciating after mid-2011
o More outright purchases by occupiers as well as private equity players
o IT/ITES and BFSI would continue to account for 60-70% of office demand

Residential Real Estate

o Launch of premium products to continue, albeit at a slower pace
o Launch of Ultra Low Cost (ULC) Housing by private developers – ‘Housing for All’
o 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
o Impact on affordability will influence the price and absorption dynamics
o Sustainability to gain focus as the industry looks forward towards IGBC Green Homes standard.

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 1.5: 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 estatechange as the distance from
the central business district (CBD) increases. It states that different land users will compete with one
another for land close to the city centre. This is based upon the idea that retail establishments wish to
maximize their profitability, so they are much more willing to pay more for land close to the CBD and

Figure: 1.1 The above figure is Graphical presentation of Bid Rent Theory Curve adopted from Location and Land Use, 1964,
William Alonso

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less for land further away from this area. This 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 accessible 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 outskirts of the city, as this is the only location that they can afford to
occupy. In modern times, those who do not want to choose to sell the property as per the market price
and decides to sell the property higher than the market price therefore naturally will be unhappy if
compensated at the market price (Ghatak and Mukherjee 2011) 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)

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 rational 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.

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.

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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". 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. It is also
called survivor investing (Kummerow and Galfalvy 2002)

1.6.3: Game Theory:

(John Von Neumann Oscar Morgnstern1944) 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 “won” 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
transactions 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. 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 (Ratcliff, 1972). 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
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only one potential buyer bids on a house (Gloudemans, 1999). 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.
Likemost 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 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 (Ghatak, M.,
Mitra, S., Mookerjee, D.and Nath, A. 2012),
A lose/lose game can be compared to a game of “chicken,” where both the buyer and the seller
concede on some aspects. Interestingly, this can be the most satisfying out come in the long run when
the Nash’s equilibrium theory is applied—when all parties involved understand each other and are at a
standstill in terms of negotiations, it is in their best interests to advance unilaterally so both benefits
together. In other words, both parties get something that they want even though it may not be the most
ideal outcome for either (Ghatak, M.and Mookerjee, D., 2011).

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

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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 (Mr. Vishnu Ganrau Kartk, Mr. Anurag
Kartik, 2016)

2. Paid Advertisement on Google Business:

Google advertising is a great marketing strategy for small businesses. You 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 most
small 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 you 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 PPC management services typically see a
higher return on investment than if they manage advertisements themselves (Paul Cundell,
2018)

3. Social Sharing to Property Pages:

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 Social sharing describes when social media users broadcast web content on a social network to
their connections, groups, or specific individuals. One of the primary aims 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-sharesis an organic form of promotion
generated by the public. Consumers share products, blog posts, and inspirational images
because they want to. When social connections —including friends, family, and coworkers —
see shared content, it resonates more than a message displayed directly by a business. Each
time someone shares an article, link, or promotion it has the potential to domino into a wide
network of potential customers. Once a post is shared, 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 (Henry
Stuart, 2018).

4. Develop Virtual Staging:

Virtual home staging is a type of home staging in which an interior design is created in a graphic
editor. Virtual staging is especially popular among real estate brokers, photographers, and interior
designers. The main goal 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 physical. Virtual staging is
sometimes done to market a vacant home, as it can offer many of theas it can offer many of the
benefits of traditional staging at a significantly lower cost (Olivier Blanchard, 2011).

Benefits of traditional staging at a significantly lower cost. About five to ten percent of onlinereal
estate listings use virtual staging.

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 5. Partner with Local Business:

Developing relationships with other local businesses will be key for your real estate
marketing efforts.
When local small businesses partner with other local businesses it helps to create even more of an
incentive for customers to do just that.

Business-to-business collaboration is often called 'cross promotion' or “co-marketing”, but the concept
is too multi-faceted to describe in terms of promotions only. There are many ways in which two or more
non-competing businesses can team up to promote their mutual success.

I. Product Cross Promotion

Those familiar with the idea of cross promotion think first of 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. Two service businesses can team up and arrange to
swap services, saving each of them money on necessary expenditures. A referral agreement 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 big 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 can create a cycle of mutual benefit that reaps big successes
for small business owners.

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 Vimeo. All three platforms offer incredibly
targeted advertising as well to increase your online reach (Entrepreneur Publishing, 2015).
clients’ time is precious, and they want to understand as much as possible about a property
prior to visiting in person. Virtual tours are a great way to give a comprehensive, accurate

24
 preview of the property for potential buyers (Scott Stratten and Alison Stratten, Un Marketing
2009)

 Business Development Strategies:

Business Development Strategies is a combination of numerous individual tasks which has a goal of
implementing and developing growth opportunities either within the organization or between two or
more organizations. It is related to all round development of a particular business which makes it
enriching and fruitful. It is a mixture of commerce, business and organizational behaviour theories.
Business development deals with the establishment of long term value factor for an organization from
the point of view of markets, customers and their interrelationships.( M Rogers, D Peppers – 2001)

It is defined as “processes and activities which is concerned with analytical preparation for probable
growth opportunities, which does not entitle decisions regarding strategy for implementation of growth
opportunities, but supports the strategy for implementation of growth opportunities.”

The basis of Business Development is about creating long term value or long term positive image of an
organization in the minds of customers, stakeholders, markets and so on. The process of business
development is all about identifying these interconnected networks, which will create new
opportunities for growth.( R Ward, R Jenkins – 1984)

Business Development Strategies is essentially a marketing function, though it involves some minor
sales skills like negotiation. Typical goals of business development strategies include market
expansion, brand projection, new client acquisition, general awareness about brand, etc.

25
 Business
Development

Partner

Customer Customer
Customer
\

Figure: 1.2 Flowchart of Business Development Process

1. Look For Right Opportunity:

The contacts with whom you are dealing must be cross checked as well. Dealing with the right person

is very important This practice leads to unwanted wastage of time. It is very important to identify the

potential clients with whom you can do business. Scanning of the market for fruitful associations is

vital before starting dealing with prospects. If this step is omitted, you will find that you are already

drained out, yet no positive associations have been made. Focus on those clients who actually matters

to your business rather than digging your head in unwanted ones.( H Nyström – 1990)

26
 2. Stop Talking Too much:

When you are speaking for more than 50 percent of the time, you are actually talking 10 times excess.

Your job is not to blurt out everything, but understand and probe the client’s perspective, his problems,

issues, type of work done, time taken etc. Be an active listener if you really want to develop your

business. You will always be a favourite vendor in a competitive economy if you hone your listening

skills.( B Shaffer, AJ Hillman - Strategic Management Journal, 2000)

3. Focus on Client’s Requirement:

Don’t present what you are offering. Present what the client needs. Do not talk about your offerings

instead listen carefully the client’s requirements, preferences. If you listen carefully to your clients,

you can modify your own pitch to match the client requirements which in turn increase client

satisfaction rates. Always pay a keen attention to the clients’ issues so that you customize your

offerings as per his needs. If a client fails to get what he desires, then the chances of doing business

with him is minimized. He will not select you as his business partner and instead look for other

prospective partners.( HK Chiou, GH Tzeng, DC Cheng - Omega, 2005)

4. Be Important:

It is a well known idea that important people love to deal with other important people. Be active within

your business associations. To be part of those organizations that fulfill your business needs and where

you can interact with prospective clients. You can offer volunteer services to industry experts to gain

visibility as well as to capture high value targets. You can climb the corporate ladder to gather the

desired prestige in your concerned industry. If you succeed in doing so, the successive orders are

bound to flow in your company. Remember, people like to deal with the creamy layer or the winners in

their respective areas of expertise.( AI Goldberg, G Cohen… - … of Small Business …, 2003)

27
 5. Client’s Satisfaction:

There is nothing in the world which is worse than a furious client. Not only it spoils the relationship of

yours with the client, but it is also harmful to your company’s reputation. Forget about everything else

and fix your client’s problems first. If you take a quick action once your client’s complaints about an

issue, you will make an enthralling impression on your client. You will get applause from your client

and your name will be circulated in your industry members. Remember to practice empathy when

dealing with clients. Place yourself in your client’s position and feel his problem. By doing so, you

will be effectively nurtured your business.

6. Provide Excellent Service:

After you successfully influenced your clients and got business from them, it is time to make

them happy with your amazing services. Stick to the deadlines fixed with your clients. Be a perfect

guide throughout the whole process. If you succeed in making your clients satisfied, they will be

offering you repeat business as well as new business opportunities. Who knows, you may be rewarded

with something exceptionally good.

7. Qualitative Vs Quantitative approach:

Many businesses focus purely on qualitative business value proposition and gives less importance to

the other factors. But this is not a wise idea. This plan has a high probability of failure and is quite

difficult to achieve. There is also a minimal probability of the market to pay higher for a premium

service. The market is not ready to spend extra bucks even if they get improved user experiences and

better services. As a result, the quantitative aspect of the business increases the chances of success.

28
Creating competitive lowest prices will surely attract more clients. This in turn will maximize your

revenue generation.

8. Time Management:

Time management is a crucial skill which every business owner needs to know. It is all about

prioritizing work. Important work needs to be done first and less important jobs can be done later. You

can also have a great business idea in the silliest of time. Managing your time wisely is one of the most

crucial tasks, especially when you are a business start up. Balancing time between operational

activities and business development activities is an art which you need to master. This can be done

only when you spent less time on useless stuff and allocate more time to vital tasks.

9. Innovation:

Innovation is the best way to be at the top of the competition. When you offer your clients

something unique then there is a high probability that your client will do business with you.

Everyone prefers products or service that are new to the market. So why don’t you go out of the

box and have some awesome ideas? Offer your clients something which no one is offering.

Innovation may involve new methods, ideas, workflows, process flows which will be beneficial for

companies.

The role of business development Strategies is extremely crucial in the first stages of a new business.

This phase decides the fate of your business. If you do it well, you will taste success soon or else it will

take your business to a downward direction. You need to identify the winning concepts for your

business. You have to brainstorm ideas in order to be successful in developing your business. Start

29
looking for new niches for promoting your products or services. You can also apply your skills to a

new field which can be beneficial. You can also search for existing product lines and offer a cheaper

version of the same product.

1.6: Regulatory or Legal aspects related to the topic

An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real
estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate
project, in an efficient and transparent manner and to protect the interest of consumers in the real estate
sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the
Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate
Regulatory Authority and the adjudicating officer and for matters connected therewith or incidental
thereto.

The Act aims at protecting the rights and interests of consumers and promotion of uniformity and
standardization of business practices and transactions in the real estate sector. It attempts to balance the
interests of consumers and promoters by imposing certain responsibilities on both. It seeks to establish
symmetry of information between the promoter and purchaser, transparency of contractual conditions,
set minimum standards of accountability and a fast-track dispute resolution mechanism.(
A Gupta, A Sawhney, D Bajaj… - Journal of Real Estate …, 2017)

OBJECTS OF RERA

 ensure accountability towards allottees and protect their interest;

 infuse transparency, ensure fair-play and reduce frauds & delays;
 introduce professionalism and pan India standardization;
 establish symmetry of information between the promoter and allottee;
 imposing certain responsibilities on both promoter and allottees;
 establish regulatory oversight mechanism to enforce contracts;

30
  establish fast- track dispute resolution mechanism;
 promote good governance in the sector which in turn would create investor confidence

KEY FEATURES OF RERA

 All developers 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 this Act. It will be the responsibility 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 website for public access. No developer can
advertise/market the project, apartment or building without registering the project with the
RERA authority.
 After registering with regulatory authority, the builder 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 buyers, developers will have to keep them informed of their other ongoing 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:
 brief details of his enterprise including its name, registered address, type of enterprise
(proprietorship, societies, partnership, companies, competent authority), and the particulars of
registration, and the names and photographs of the promoter;
 a brief detail of the projects launched by him, in the past five years, whether already completed
or being developed, as the case may be, including the current status of the said projects, any
delay in its completion, details of cases pending, details of type of land and payments pending;
 an authenticated 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;
 the 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 development
works to be executed in the proposed project and the proposed facilities to be provided thereof

31
 including fire fighting facilities, drinking water facilities, emergency evacuation services, use
of renewable energy;
 the location 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 allottees;
 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 of garage for sale in the project;
 the names and addresses of his 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;
 a declaration, supported by an affidavit, which shall be signed by the promoter or any person
authorized by the promoter, stating:--

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.

32
 Chapter 2: Introduction to Real Estate Industry

2.1: Real Estate Industry in India:

The real estate sector is one of the most globally recognized sectors. Real estate sector comprises four
sub sectors - housing, retail, hospitality, and commercial. The growth of this sector is well
complemented by the growth of the corporate environment and the demand for office space as well as
urban and semi-urban accommodations.
It is also expected that this sector will incur more non-resident Indian (NRI) investments in both the
short term and the long term. Bangalore is expected to be the most favoured property investment
destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi and Dehradun.( Y Coskun -
Housing Finance International, 2011)

The size 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 last few years. Almost 80 % of real estate developed in
India, is residential space and the rest comprise office, shopping malls, hotels and hospitals. Real estate
companies would also do well to maximize their own performance and operational efficiency.

Figure: 1.3 The above figure shows the real estate opportunities in India.

33
Real estate sector in India is expected to reach US$ 1 trillion by 2030. By 2025, it will contribute 13
per cent of the country’s GDP. Real Estate stock in India is expected to reach 3.7 million square feet in
2019, with addition of 200 million square feet during the year. Emergence of nuclear families, rapid
urbanisation and rising household income are likely to remain the key drivers for growth in all spheres
of real estate, including residential, commercial and retail. Rapid urbanisation in the country is pushing
the growth of real estate. More than 70 per cent of India’s GDP will be contributed by the urban areas
by 2020.( LJ Frisella, R Nichols - Cal. Reg. L. Rep., 2000 -)
Private Equity and Venture Capital investments in the sector have reached US$ 4.47 billion in 2018
and US$ 249 million in Q1 2019. Between 2009-18, Indian real estate sector attracted institutional
investments worth US$ 30 billion.
Office space has been driven mostly by growth in ITeS/IT,BFSI, consulting and manufacturing. Gross
office absorption in top Indian cities has increased 26 per cent year-on-year to 36.4 million square feet
between Jan-Sep 2018. Warehousing space is expected to reach 247 million square feet in 2020 and
see investments of Rs 50,000 crore (US$ 7.76 billion) during 2018-20. Grade-A office space
absorption is expected to cross 700 million square feet by 2022, with Delhi-NCR contributing the most
to this demand.

The Government of India has been supportive to the real estate sector. In August 2015, the Union
Cabinet approved 100 Smart City Projects in India. The Government has also raised FDI limits for
townships and settlements development projects to 100 per cent. Real estate projects within the Special
Economic Zone (SEZ) are also permitted 100 per cent FDI. The total number of houses built under the
Pradhan Mantri Awas Yojana (PMAY) reached 25.69 million up to May 27,2019. Government of
India’s Housing for All initiative is expected to bring US$ 1.3 trillion investments in the housing sector
by 2025. Under the Pradhan Mantri Awas Yojana (PMAY) Urban, 8.09 million houses have been
sanctioned up to May27, 2019. The scheme is expected to push affordable housing and construction in
the country and give a boost to the real estate sector. The government has also released draft guidelines
for investments by Real Estate Investment Trusts (REITs) in non-residential segment.( IM Jadalhaq -
Arab Law Quarterly, 2017)

34
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.

35
􀂾 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’.

36
 2.2: (FUTURE TRENDS..)

Real estate sector in India is expected to reach US$ 1 trillion by 2030. By 2025, it will contribute 13
per cent of the country’s GDP. Real Estate stock in India is expected to reach 3.7 million square feet in
2019, with addition of 200 million square feet during the year. Emergence of nuclear families, rapid
urbanisation and rising household income are likely to remain the key drivers for growth in all spheres
of real estate, including residential, commercial and retail. Rapid urbanisation in the country is pushing
the growth of real estate. More than 70 per cent of India’s GDP will be contributed by the urban areas
by 2020.
Private Equity and Venture Capital investments in the sector have reached US$ 4.47 billion in 2018
and US$ 249 million in Q1 2019. Between 2009-18, Indian real estate sector attracted institutional
investments worth US$ 30 billion.
Office space has been driven mostly by growth in ITeS/IT,BFSI, consulting and manufacturing. Gross
office absorption in top Indian cities has increased 26 per cent year-on-year to 36.4 million square feet
between Jan-Sep 2018. Warehousing space is expected to reach 247 million square feet in 2020 and
see investments of Rs 50,000 crore (US$ 7.76 billion) during 2018-20. Grade-A office space
absorption is expected to cross 700 million square feet by 2022, with Delhi-NCR contributing the most
to this demand.

37
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. 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). 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 the projections, almost 18 meter sqft 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.
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.

38
2.3: MAJOR COMPETITORS:

1. Aryan Real Estate Agents:

Aryan properties is one of the top rated Real Estate

Consultancy firms in Mumbai .Their primary focus is
on LEASING OF COMMERCIAL and RESIDENTIAL
properties. It’s been more than a decade, since they
laid their foundation in the Financial Capital of India.
The boast of an impressive list of blue chip clients including MNCs whose demands they have met
successfully with a continuous and
persistently dedicated effort. Aryan Real Estate Agents
has more than 21 years of experience in the Real Estate market of Mumbai.

2. NestAway:

NestAway is registered as NestAway Technologies Pvt. Ltd. Founded in 2015, NestAway

Technologies Pvt. Ltd. is headquartered at Karnataka. NestAway is an online aggregator of fully
nfurnished and well maintained rooms and flats for rent. NestAway homes are present across 13 cities i
India, including Bangalore, Delhi, Faridabad, Ghaziabad, Noida, Greater Noida, Gurgaon, Hyderabad,
Mumbai, Navi Mumbai, Pune and Thane.

3. Property Pistol:

Property pistol Realty Private Limited is a Private incorporated on 25 August 2012. It is classified as
Non-government company and is registered at Registrar of Companies, Mumbai.

Its authorized share capital is Rs. 1,100,000 and its paid up capital is Rs. 1,010,000.
It is involved in Real estate activities with own or leased property.

39
This class includes buying, selling, renting and operating of self-owned or leased real estate such as
apartment building and dwellings, non-residential buildings, developing and subdividing real estate
into lots etc. Also included are development and sale of land and cemetery lots, operating of apartment
hotels and residential mobile home sites.

4. Fourth Dimension Realty:

Fourth Dimension Realty is a Real Estate consultancy with a team of

dynamic individuals working together to help you get the best deal in Real
Estate. They stand by a tradition of long term relationships, which has
resulted in our high ratio of repeat business. Operating since 2003.

5. Property Tiger:

Founded in 2011 by dynamic business leaders, PropTiger has helped

more than 10,000 people find their dream homes through the efforts of
more than 500 of our dedicated employees. Their commitment towards
assisting people in their home buying process has been encouraged with
generous investments from investors like Saif Partners, Accel Partners
and News Corp.

2.4: Current Scenario of Real Estate:

Commercial real estate sector is in boom in India. In the last fifteen years, post liberalization of the
economy, Indian real estate business has taken an upturn and is expected to grow from the current
USD 14 billion to a USD 102 billion in the next 10 years. This growth can be attributed to favorable
demographics, increasing purchasing power, existence of customer friendly banks & housing finance
companies, professionalism in real estate and favorable reforms initiated by the government to attract
global investors.

40
 1.Realisation of large
Growing Market commerial projects.
Demand 2.IPOs by developers.
3.Gradual organisations of
markets in Tier I cities.

1.Emergence of transparency
Greater and liquidity.
availability of 2.Governing Legal Framework
information relaxed.
3.Competitive prizes

Figure:1.4 Cause-Effect scenario leading to emergence of organized real estate market in India.

The property market in India has traditionally been unorganized and fragmented. However, the recent
past has seen a consolidation of positions in the market as developers are stretching their capacities to
the maximum in order to meet the growing market demand, which in turn has encouraged large
projects with sourced financing. The IPOs by large real estate developers like Sobha, Raheja and DLF
have led to organization of the market in the Tier I cities, but the Tier II and Tier III cities still
demonstrate the traits of an unorganized market. Whilst the Indian real estate market still lacks
transparency and liquidity compared to more mature real estate markets, the increasing requirements of
multinational occupiers, as well as the influx of international property consultancies has led to the
introduction of greater availability of market information, both in published and private form pushing
the sector to an organized market form.( S Joshi - Economic and Political Weekly, 2004 – JSTOR)

41
 Chapter3: Introduction to the Company

3.1: Organization profile

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 everytime 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.

42
 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

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
43
 accommodation:
 Upto 3 months
 4 - 6 months
 Any lease beyond 6
months
- ¼ month rent as commission from both parties> ½ month rent as
commission from both parties> 1 month rent as commission from both
parties.
2% commission from both parties

3.2Functions Of Marketing:

 Essential functions of marketing are:

1. Gathering and Analyzing Market Information

2. Marketing Planning

3. Product Designing and Development

4. Standardization and Grading

5. Packaging and Labeling

6. Branding

7. Customer Support Services

8. Pricing of Products

9. Promotion

10. Physical distribution

11. Transportation

12. Storage or Warehousing

3.3: 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

44
  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 estatesegment.
 The growing young population of India supports strong demand for both
residential and commercial properties inIndia.
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.
2.
● Demonetization has resulted in shortage of cash and low transactions in property
market and leasing activity due to large involvement of cash component.

45
3.4: PESTLE ANALYSIS

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

46
 ● 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.

47
 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.( CR Kothari - 2004 )

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.( R Kumar - 2019 ) 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.( G Marczyk, D DeMatteo, D
Festinger – 2005)

48
 Types Of
Research

Application Enquiry
Objective Mode

Pure Discriptive Quantitavive

Research Research Research

Applied Exploratory Qualitative

Research Research Research

Figure: 1.5 Block Diagram of Research

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.( JA Maxwell – 2012)

49
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.( JA Maxwell – 2012)

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. (JW Creswell, JD Creswell – 2017)

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.( DR Cooper, PS Schindler, J Sun – 2006)

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:

50
  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.

Data Collection Techniques Data Collection Tools

Case study Wikipedia, Reonomy, Rental Property

51
 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.( A Coffey, P Atkinson - 1996 )

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 1;320(7226):50-2 Jan states that there are some advantages and
disadvantages of semi-structured interviews which such as It helps in collecting the
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.( A Galletta - 2013 )

52
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.( H Kallio, AM Pietilä, M Johnson… - Journal of
advanced …, 2016 - Wiley Online Library)

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.

4.4: Sample Design

53
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.

54
 Chapter 5: Data Analysis and Interpretation

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.( I Var - vectors, 1998)
This last chapter helps in representing the final analysis and results and evaluations.

Analysis-
From the above chart we can see that 28% people think that property is a good business to invest
It can be said that real estate is a faster growing sector and can give a hand sum return in future.

55
Analysis-It can be seen that most of the firm has 5 to 10 employees in the firm.

56
Analysis- Magicbricks has the highest market share of (46.9 %) and makaan.com has a
market share of 25% and olx and justdial have 12.5% of marketshare.

57
Analysis-As per the analysis 53.1% people invest in residential property and
46.9 % have invested in commercial property and it can be seen that residential
property demand is more.

58
Analysis-Social media marketing has been used by 53.1% agents and it’s the
best medium to advertise.25% of agents use news paper for advertising purpose

59
Analysis-It can be observed that on an average every agent post at least 5 to 10
properties in a week.

Analysis-As per the analysis 56% of agents deal in overall navi Mumbai region
and demand is almost similar in each region.
60
Analysis-In navimumbai agents who have their own website for promotion
activities are 65.6 % and rest of 34.4% does not have their own website.

61
Analysis- 43%Agents are still using book keeping method for maintaining data
base and 31% use word document and 25% use excel sheet.

Analysis-75% of agents has tie up with banks for providing loan facility and 25%
of agents don’t have loan facility

62
63
 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

• 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%.
64
• 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.

• 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

6.1: Suggestions

 The company must expand their Resale Team and promotional activities for
tapping the market more efficiently.

 The company must also market and advertise about the portal service in order to
stand up front with competition

 The company can also focus into dealing in small sole selling projects in order
effectively utilize Sales Team.

 Employer Should treat the Employee in better way which, will help to increase
employees retention rate.
 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.
65
  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.

 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.

6.2: Limitations
● Not all brokers use the system; they still prefer to update their data in the diary.
● Some Brokers are afraid to upload the data into CRM as they don’t want their data
to be leaked by anyone.
● Many of the Brokers hesitate to invest in the CRM.
● Comparison between our CRM and other CRM.
● As SR real estate is not a well-established firm, brokers hesitate to invest in it.

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

66
  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.

6.3: Conclusion

S.R Real Estate boasts of being the top channel partners for leading the real-estate
companies such as Godrej, Lodha, L&T, Oberoi, Hiranandani, etc. Over the last many
years, S.R Real Estate has earned the trust and confidence of an extensive Retail &
Institutional Broker Syndicate network with the current network of 250 brokers and
growing steadily.

The project is to bring the real estate industry online and enabling real estate
industry participants to benefit from the internet. Site acts as an interface between
Individuals, Brokers and Realtors.

RERA Act has made mandatory changes in favor of customer purchasing Real Estate
properties

The CRM Technology provided will effectively help for servings cliental more effectively

There have been many real estate brokers who are un registered under RERA and work
under Resale and Rental Property

The real estate industry is undergoing a significant change with a new approach
which is increasingly focused on information. A deluge of data (Big Data) is gradually
injected into the activities of construction and real estate management. This massive
influx of data breeds knowledge which facilitates better management of real estate
property. Therefore, there is everything to gain for those who manage or occupy a
building. This is resulting in a better performance and optimization of services and
processes. They enable considerable savings to be made and a marked, improvement in
the quality of services.
67
To take things even further, the real estate ecosystem must be de-compartmentalized. Ensure
that the data comes from the technical “silo” in which it is naturally found in order to be
analyzed with a global and cross-functional approach. The data generated by the digital
technologies must be able to be accessed by everyone and therefore enable the information
to be pooled and exploited to better meet all of its uses.

68
 Chapter 7: Learning Experience from the project

During the Summer Internship of two months I have learned the following:

• In depth knowledge of the product to be sold.

• Handle the customer in calm manner.
• Patience is the key to success.
• Sometime to be aggressive as per the situation.
• Time management to handle multiple customers at a time.
• Importance of disciplined approach.
• Positive attitude even if the sales does not take place.
• Confident towards approaching the customers.
• Respect towards professionalism.

Annexure

Questioner for real estate agents survey

Q1. When your firm was started ?

a)1995-2000 b)2005-2010

c)2010-2015 d)2015-2020

Q2. How many employee work in your firm?

a)2 to 5 b)5 to 10

c)10-15 d)15 and more

69
Q3. which online portals you will rate highest?
a)Makaan.com b)Olx

c)Common floor.com d)Magic Bricks

\
Q4. In what kind of property you deal in ?
a)Commercial
b)Residential
c) Other:

Q5. What time of media you use for marketing ?

a)News paper advertisement. b)Social Media

c)Email marketing. d) Catalog marketing

Q6. How many properties you list in a week?

a)5 b) 5-10

c)10-15 d) More then 15

Q7. What areas you deal in ?

a) C.B.D Belapur
b) Kharghar
c) Vashi
d) Above all

Q8. Do you have your own website?

a) Yes
b) No

Q9. How you maintain your data base?

a) Book keeping
b) Word document
c) Excel Sheet

70
Q10. Do your firm provide loan facility?
a) Yes
b) No

Q11. How much money your firm invest in marketing activities on monthly basis?
a) 0-2000
b) 2000-5000
c) 5000-10000
d) 10000 and above

BIBLIOGRAPHY

http://www.midshipmite.com/

https://articles.bplans.com/9-real-estate-marketing-strategies-to-expand-your-business/

https://www.mindtools.com/pages/article/newTMC_08.htm

71
https://researchbasics.education.uconn.edu/types-of-research/

https://www.ibef.org/industry/indian-real-estate-industry-analysis-presentation

https://en.wikipedia.org/wiki/Real_Estate_(Regulation_and_Development)_Act,_2016

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