WIP REPORT

NAME:-RAVI SINGH
UID-2023-0208-0001-0003
ACKNOWLEDGEMENT

I want to thank the Management, Director, and Mentor of Pune Institute of

Business Management for accentuating the 45 Days Winter Internship Program
and giving me the stage to associate with industry experts. Nobody can be done.
without the assistance of and direction of different individuals. I want to express
gratitude towards Mr. Asheesh Kumar (Vice President) for giving me the
chance to deal with the renowned company BHK Realty . I expand my warm
appreciation and respect to every individual who caused me during my
temporary job and in conclusion, I might want to thank my folks, companions,
and my kindred assistants who urged me to accomplish this examination work
and the individuals who contributed straightforwardly or in a roundabout way in
finishing this venture to whom I am committed to even though namelessly.
CHAPTER 1
INTRODUCTION

Real estate has long been considered a stable and lucrative investment, offering the potential
for both capital appreciation and rental income. In today's market, there are a number of
factors that are creating exciting opportunities for investors, including:
 Low interest rates: Interest rates are at historic lows, making it more affordable to
borrow money to purchase property. This can help to increase your returns on
investment, as you can leverage your investment to buy more property.
 Strong demand: The demand for housing is high, thanks to a growing population and
a healthy economy. This is putting upward pressure on prices, which can lead to
capital appreciation for investors.
 Diversification: Real estate can help to diversify your investment portfolio, which can
help to reduce your overall risk. This is because real estate is not as closely correlated
to other asset classes, such as stocks and bonds.

The most popular ways to invest in real estate:

 Rental properties: Purchasing a property and renting it out to tenants is a classic way
to invest in real estate. This can be a great way to generate passive income and build
equity over time.
 House flipping: Purchasing a property, fixing it up, and then selling it for a profit is
another popular way to invest in real estate. This can be a risky strategy, but it can
also be very profitable.
 Real estate investment trusts (REITs): REITs are companies that own and operate real
estate properties. Investors can buy shares in REITs, which allows them to indirectly
invest in real estate without having to purchase and manage property themselves.

Background of the Study in Real Estate:

Real estate has been a subject of study for centuries, dating back to ancient civilizations.
However, the field of real estate as we know it today began to develop in the 18th and 19th
centuries with the rise of industrialized economies and the need for more efficient land use.
The 20th century saw the development of new real estate disciplines, such as real estate
finance, real estate marketing, and real estate development. This was due in part to the
increasing complexity of the real estate market and the growth of the financial services
industry.
The 21st Century
The 21st century has seen the continued growth and evolution of the real estate industry. New
technologies, such as big data and artificial intelligence, are being used to develop more
sophisticated real estate models and investment strategies. In addition, there is a growing
focus on sustainability and environmental considerations in real estate development.

Importance of Studying Real Estate:

There are many reasons why studying real estate is important. First, it can help you make
informed decisions about buying, selling, and investing in real estate. Second, it can help you
understand the factors that affect the real estate market, such as interest rates, economic
conditions, and government policies. Third, it can help you develop the skills you need to
succeed in the real estate industry.

Statement of the Problem in Real Estate:

The real estate market is a complex and ever-changing landscape. There are many factors that
can affect the market, such as interest rates, economic conditions, and government policies.
This makes it difficult to predict what will happen in the future and can lead to problems for
both buyers and sellers.
 Affordability: Housing prices have been rising in many parts of the country, making it
difficult for many people to afford to buy a home. This is a particular problem for
first-time buyers and young adults.
 Inventory: There is a shortage of housing inventory in many markets, which is driving
up prices and making it difficult for buyers to find homes that meet their needs.
 Competition: The competition for desirable properties can be fierce, especially in hot
markets. This can lead to bidding wars and higher prices.
 Financing: Mortgage rates have been rising, making it more expensive to borrow
money to buy a home. This can further reduce affordability for many buyers.
 Regulations: There are a number of regulations that can make it difficult to buy, sell,
or invest in real estate. These regulations can vary from state to state and can be
complex and confusing.

The rationale for the statement of the problem in real estate:

Housing prices have been rising, making it difficult for many people to afford to
Affordability
buy a home.

There is a shortage of housing inventory in many markets, which is driving up

Inventory
prices and making it difficult for buyers to find homes that meet their needs.

The competition for desirable properties can be fierce, especially in hot markets.
Competition
This can lead to bidding wars and higher prices.

Mortgage rates have been rising, making it more expensive to borrow money to
Financing
buy a home. This can further reduce affordability for many buyers.
 There are a number of regulations that can make it difficult to buy, sell, or invest
Regulations in real estate. These regulations can vary from state to state and can be
complex and confusing.

The real estate industry is a major contributor to climate change. There is a

Sustainability
growing need for sustainable building practices and energy-efficient homes.

The real estate industry is slow to adopt new technologies. This can lead to
Technology
inefficiencies and missed opportunities.

The real estate market can be opaque and lack transparency. This can make it
Transparency
difficult for buyers and sellers to make informed decisions.

Research Objectives in Real Estate:

The research objectives in real estate are numerous and varied, depending on the specific area
of focus and the goals of the study. Here are some general research objectives in real estate.
 To Understanding Market Dynamics:
 To Optimizing Investment Strategies:
 To Enhancing Market Efficiency and Transparency:
 To Promoting Sustainability and Environmental Responsibility:
 To Addressing Social and Economic Issues:
 To Improving Consumer Knowledge and Decision-Making:
 To Advancing Technology and Innovation in Real Estate:

Primary Research:
Real estate is a complex and dynamic field, making primary research crucial for gaining
valuable insights and uncovering new information. Primary research allows researchers to
gather first-hand data directly from the source, offering a deeper understanding of the market
and specific real estate topics.
• Fresh and Unique Data: Primary research provides data unavailable from secondary
sources, offering valuable new insights and perspectives.
• Addressing Specific Needs: Research can be tailored to address specific questions or
challenges not addressed by existing data.
• Increased Accuracy and Control: Direct data collection allows for greater control over data
quality and eliminates potential biases in secondary sources.
• Enhanced Understanding: Primary research enables deeper exploration of complex topics
and facilitates the development of innovative solutions.

Common methods for conducting primary research:

  Surveys: Collecting data through questionnaires from a targeted population, such as
homeowners, tenants, or real estate professionals.
 Interviews: Conducting in-depth interviews with individuals or groups to gather
detailed information and insights.
 Case Studies: Analysing individual properties or projects to gain insights into specific
market trends or development strategies.
 Field Observations: Conducting on-site observations to collect data on property
conditions, demographics, and neighbourhood characteristics.
 Experiments: Testing hypotheses and theories in real-world settings to generate
evidence and assess the influence of interventions.

Secondary Research Objectives:

Secondary research plays a crucial role in understanding the real estate market and informing
informed decisions. It involves gathering and analysing existing data and information from
various sources, such as:
 Market reports: These provide valuable insights into market trends, including pricing
data, vacancy rates, absorption rates, and demographic information.
 Government publications: These offer data on economic conditions, demographics,
and zoning regulations.
 Industry publications and news articles: These provide up-to-date information on
market trends, legislation, and industry developments.
 Academic research papers: These offer in-depth analysis of specific topics in real
estate, such as housing affordability, urban development, and sustainable building
practices.
 Real estate websites and databases: These provide access to property listings, market
data, and other relevant information.

Benefits of Secondary Research in Real Estate:

 Cost-effective: Utilizing existing data is significantly less expensive than conducting
primary research.
 Time-efficient: Secondary research allows for quick access to a vast amount of
information.
 Comprehensive: Provides a broad overview of the market and various perspectives.
 Informs decision-making: Offers valuable insights to support informed decisions.

The real estate sector is a broad and complex industry that encompasses everything from
the buying and selling of homes to the development and management of commercial
properties. It's one of the most important sectors in the global economy, and it plays a vital
role in providing people with places to live and work

 Developers: Companies or individuals who plan, finance, and build new

properties.
  Investors: Individuals or institutions who buy and hold real estate for income
or appreciation.
 Lenders: Banks, credit unions, and other institutions that provide financing for
real estate purchases.
 Brokers and agents: Professionals who help buyers and sellers find and
negotiate deals on properties.
 Property managers: Individuals or companies responsible for the day-to-day
operations of rental properties

Market participants
Economic influence:

market share in the real estate sector:

Global Market Share:

The value of the real estate market is expected to increase from Rs. 12,000 crore (US$ 1.72 billion) in
2019 to Rs. 65,000 crore (US$ 9.30 billion) by 2040. India's real estate market is predicted to grow
from US$ 200 billion in 2021 to US$ 1 trillion by 2030, and by 2025, it would account for 13% of the
nation's GDP

 Residential: The top 10 residential real estate markets by market share are
China (21.9%), the United States (16.3%), Japan (5.7%), Germany
(3.2%), the United Kingdom (3.1%), India (2.9%), France (2.7%), Canada
(2.6%), South Korea (2.5%), and Italy

Global residential real estate market share

 Commercial: The top 10 commercial real estate markets by market share are
the United States (35.5%), China (16.8%), Japan (8.6%), the United Kingdom
(6.3%), Germany (5.3%), France (4.3%), Canada (3.8%), Australia
(3.7%), Hong Kong (2.6%), and Singapore (2.5%).

Global commercial real estate market share

US Market Share:

 Residential: The top 5 homebuilders in the US by market share are Lennar

(11.1%), D.R. Horton (9.5%), PulteGroup (8.0%), Toll Brothers (5.2%), and
NVR, Inc. (4.9%).
market share of a company in the real estate sector can be measured in various
ways, depending on the specific market segment being analysed. Here are some
common metrics:
 Revenue share: This is the percentage of total revenue generated in a
specific market segment by a particular company. For example, if Company A
has $100 million in revenue from the sale of residential properties in a city,
and the total revenue from residential property sales in that city is $1 billion,
then Company A's revenue share would be 10%.

Revenue share graph

 Unit share: This is the percentage of total units sold in a specific market
segment by a particular company. For example, if Company B has sold 1,000
apartments in a city, and the total number of apartments sold in that city is
10,000, then Company B's unit share would be 10%.

Unit share graph

 Market capitalization share: This is the percentage of the total market value of
all companies in a specific market segment that is attributable to a particular
company. For example, if Company C has a market capitalization of $10
billion, and the total market capitalization of all publicly traded real estate
companies is $100 billion, then Company C's market capitalization share
would be 10%.
 Market capitalization share

US residential real estate market share

 Commercial: The top 5 office landlords in the US by market share are Boston
Properties (19.4%), SL Green Realty Corp. (14.5%), Vornado Realty Trust
(13.5%), Empire State Realty Trust (12.2%), and Hudson Yards Development
LLC (10.1%)
Contribution to GDP: India’s real estate sector is expected to expand to US$ 5.8 trillion
by 2047, contributing 15.5% to the GDP from an existing share of 7.3%.
Sector Composition:
1.Property Types:

 Residential: This covers homes, apartments, condos, and any dwelling used for
personal living.
 Commercial: This includes office buildings, retail spaces, hotels, restaurants, and
industrial facilities.
 Industrial: This encompasses warehouses, manufacturing plants, distribution
centres, and other facilities used for production and logistics.
 Specialties: These include unique property types like hospitals, schools, data
centres, and recreational facilities.
2. Market Segments:

 Development: This involves identifying land, acquiring permissions, designing and

constructing buildings, and preparing them for sale or lease.
 Sales and Marketing: This includes finding buyers or tenants, showcasing
properties, negotiating terms, and closing deals.
 Brokerage: This involves acting as a middleman between buyers/tenants and
sellers/landlords, facilitating transactions and earning commissions.
 Lending and Finance: This includes mortgages, loans, investment funds, and other
financial instruments used to acquire and manage real estate assets.

3. Stakeholders and Participants:

 Developers: They build and manage properties.

 Investors: They provide capital for real estate projects.
 Brokers and real estate agents: They facilitate transactions and connect buyers/sellers.
 Property managers: They oversee the day-to-day operations of properties.
 Lenders and mortgage providers: They finance real estate transactions.
 Construction companies: They build and renovate properties.
 Architects and engineers: They design and plan buildings.
 Legal and financial professionals: They provide legal and financial advice for real
estate transactions.
 Government and regulatory bodies: They establish regulations and oversee the
industry.
Sector & Sector Composition growth/de-growth catalyst:
Growth Catalysts:

 Economic Growth: Growing economy boosts demand for real estate through stability,
rising incomes, and job creation.
 Population Growth: More people mean higher demand for housing and infrastructure,
driven by urbanization trends.
 Government Policies: Supportive initiatives like affordable housing, infrastructure
development, and regulatory reforms stimulate real estate growth.
 Technological Advancements: Innovations in construction technologies and enhance
efficiency, attracting investments.
 Demographic Trends: Changing demographics influence specific demands for
different types of real estate, shaping market dynamics.

De-growth Catalysts:

 Economic Downturn: Recessions reduce consumer confidence, influencing residential

and commercial real estate markets.
 Interest Rate Hikes: Higher interest rates make real estate investments less attractive,
potentially slowing market activity.
 Regulatory Changes: Sudden changes, increasing compliance costs or restricting
certain developments, hinder real estate growth.
  Market Oversaturation: Oversupply in specific segments can lead to declining
property values and rental rates.
 Natural Disasters: Events like earthquakes or floods can cause property damage,
discouraging investment.
 Changing Consumer Preferences: Shifts in lifestyle preferences, work-from-home
trends, or alternative housing arrangements alter demand for certain property types.
Government Initiatives & FDI:
Government Initiatives:
 RERA Act: To reform the real estate sector in India, encouraging greater
transparency, citizen centricity, accountability and financial discipline.
 Infrastructure Development: Governments often initiate infrastructure projects that
influence real estate. Investments in transportation, utilities, and public facilities can
boost property values in certain areas.
 Housing Affordability Programs: Some governments implement policies and
programs to make housing more affordable for citizens. This can include subsidies,
low-interest loans, or tax incentives for homebuyers.
 Smart City Initiatives: Many governments are focusing on developing smart cities,
incorporating technology to enhance urban living. This can influence real estate
development and attract investments.
FDI (Foreign direct Investment):
 Capital Inflow: FDI in real estate brings in foreign capital, which can stimulate
economic growth and fund large-scale real estate projects.
 Market Diversification: FDI allows for diversification of the real estate market,
introducing new ideas, technologies, and investment strategies.
 Technology Transfer: FDI can bring advanced technologies and best practices in real
estate development to the host country.
 Global Connectivity: FDI connects the local real estate market to the global economy,
making it more resilient and responsive to international trends.
 Government Revenue: FDI in real estate contributes to government revenue through
taxes, fees, and other financial mechanisms.

Porter 5 Force Model Analysis:

 Threat of New Entrants: The vulnerability to new players entering the scene, gauged
by the simplicity of entry and the potential competition from emerging developers,
investors, and technology platforms.
 Supplier’s power: Influence of construction material providers, labour, and financial
institutions.
 Buyer’s power: Buyer options, affordability, and demand-supply dynamics.
 Threat of Substitutes available: The risk posed by alternative property types, co-
living spaces, or evolving living preferences, potentially diverting demand from
conventional real estate options.
 Competitive Rivalry: The level of competition intensity within various segments of
the real estate market, determining the dynamic landscape of competitive forces at
play.
Macro & Micro Environmental Analysis of the Industry:
Micro Factors:

 Location: Factors such as accessibility, infrastructure, amenities, surrounding

demographics, and environmental conditions play a crucial role in determining the
appeal and value of a particular property.
 Competition: The competitive landscape encompasses both existing and upcoming
projects, including their distinctive features and pricing strategies.
 Supply and Demand: The equilibrium between the availability of land, existing
properties, and the demand for specific property types is a key determinant in shaping
the real estate market.
 Government Regulations: Local regulations, including zoning laws, development
restrictions, and building codes, significantly influence the feasibility and scope of
real estate projects.
 Economic and Social Trends: The local real estate market is intricately linked with
economic and social dynamics, including employment rates, income levels, and
evolving lifestyle preferences.

Macro Factors:

Political factors:

 Government policies: Government policies can have a significant influence on

the real estate market. For example, changes in interest rates, taxation, and
zoning laws can all affect demand and supply. In recent years, governments
have been increasingly focused on making housing more affordable, which
has led to the introduction of a number of new policies, such as rent controls
and tax breaks for first-time buyers.

Government policies on real estate

 Geopolitical instability: Geopolitical instability can also lead to uncertainty in

the real estate market. For example, wars, terrorist attacks, and natural
disasters can all deter investment and lead to a decline in property values.

Economic factors:

 Interest rates: Interest rates are one of the most important factors affecting the
real estate market. When interest rates are low, it is cheaper to borrow money
to buy a property, which can lead to increased demand and higher
prices. Conversely, when interest rates are high, it is more expensive to
borrow money, which can lead to decreased demand and lower prices.

Interest rates on real estate

 Economic growth: The overall health of the economy can also have a
significant influence on the real estate market. When the economy is
growing, people are more likely to have money to buy or invest in
property. Conversely, when the economy is in recession, people are more
likely to put off buying or selling property.
  Employment: The level of employment can also affect the real estate
market. When unemployment is low, people are more likely to have the
money to buy a home. Conversely, when unemployment is high, people are
more likely to have difficulty making their mortgage payments, which can lead
to foreclosures and a decline in property values.

Social factors:

 Demographics: The changing demographics of the population can also affect

the real estate market. For example, the aging population is leading to an
increased demand for retirement homes and assisted living facilities. The
growing number of millennials is also leading to an increased demand for
smaller, more affordable homes in urban areas.

Demographics and real estate

 Lifestyle changes: Changes in lifestyle can also affect the real estate
market. For example, the increasing popularity of working from home is
leading to an increased demand for homes with home offices. The growing
popularity of travel and leisure is also leading to an increased demand for
vacation homes.
 Technology: Technology is also having a significant influence on the real
estate market. For example, online real estate listings have made it easier for
buyers and sellers to connect. Virtual tours and other forms of augmented
reality are also making it easier for people to view properties without having to
leave their homes.

Environmental factors:

 Climate change: Climate change is having a significant influence on the real

estate market. For example, rising sea levels are making coastal properties
more vulnerable to flooding. Extreme weather events, such as hurricanes and
wildfires, are also making it more difficult to insure properties in some

Climate change and real estate

  Sustainability: There is a growing demand for sustainable properties. This
includes properties that are energy-efficient, water-efficient, and built with
sustainable materials.

Legal factors:

 Regulation: The real estate industry is heavily regulated. This includes

regulations on things like zoning, building codes, and environmental
protection. These regulations can affect the cost and availability of housing.
 Property rights: Property rights are essential for a healthy real estate
market. When property rights are secure, people are more likely to invest in
property. Conversely, when property rights are insecure, people are less likely
to invest in property.

CHAPTER 3-RESEARCH METHODOLOGY

Research Objective:

The overarching objective of this research could be: To understand the impact of smart city
development on residential and commercial real estate markets, considering both
opportunities and challenges.

Research Design:

A mixed-methods approach could be employed, combining quantitative and qualitative data

collection methods:

 Quantitative: Conducting surveys with residents, businesses, and real estate

professionals in both smart and non-smart cities to gather data on property values,
rental rates, investment preferences, lifestyle factors, and perceptions of smart city
features.
 Qualitative: Conducting in-depth interviews with key stakeholders like city planners,
developers, residents, and business owners to explore their experiences, opinions, and
concerns regarding smart city initiatives and their impact on the real estate landscape.

Constructs and Variables:

 Independent Variables:
o Smart city features (e.g., sustainable infrastructure, connected technology,
efficient governance)
o Investment levels in smart city projects
o Stages of smart city development (emerging, growing, mature)
  Dependent Variables:
o Residential property values and rental rates
o Commercial property values and rental rates
o Investor interest in smart city real estate
o Resident and business satisfaction with smart city features

Theoretical Framework:

The research could draw upon various theoretical frameworks, including:

 Urban economic theories: Exploring how smart city features influence land use,
economic growth, and real estate markets.
 Sustainability theories: Examining the relationship between smart city development
and environmental impact, and how it affects real estate value and demand.
 Technological innovation theories: Investigating the role of technology in shaping
urban environments and driving real estate trends in smart cities.

Conceptual Framework:

A conceptual framework could visually represent the hypothesized relationships between

independent and dependent variables, moderated by factors like income levels,
demographics, and existing infrastructure.

Questionnaire Design:

The questionnaire should be designed to measure constructs and variables effectively, taking
into account the target audience and research objectives. It should employ appropriate
question types, scales, and response formats to ensure accurate and reliable data collection.

Additional Considerations:

 Ethical considerations, data privacy, and informed consent procedures must be

adhered to throughout the research process.
 Pilot testing of the questionnaire is crucial to ensure clarity, validity, and reliability of
the instrument.
 Data analysis methods should be chosen appropriately to address the research
questions and hypotheses.
 Dissemination of research findings through academic publications, presentations, and
community engagement is essential to maximize impact and inform policy decisions.
Hypotheses:

 H1: Cities with greater investment in smart city infrastructure will have higher
residential property values compared to cities with lower investment
levels, controlling for other factors affecting property values.
 H2: Businesses in smart cities will be willing to pay higher rental rates for office
space that offers advanced connectivity and energy-efficient features.
 H3: Resident satisfaction with smart city features will positively impact their
willingness to recommend their city to others, potentially boosting real estate demand.

Selection Criteria:

 Cities: Choose a sample of cities that includes both those actively pursuing smart city
initiatives and those with more traditional urban development approaches. Consider
factors like:
o Geographic diversity
o Population size
o Economic development levels
o Existing infrastructure and technology adoption
 Participants: Select a representative sample of residents, businesses, and real estate
professionals within the chosen cities. Consider using stratified sampling or quota
sampling to ensure representation across different demographic groups.

Data Collection Methods:

 Surveys:
o Online surveys for residents and businesses
o In-person or phone surveys for those with limited internet access
o Mail surveys for real estate professionals
 Interviews:
o Semi-structured interviews with key stakeholders
o Focus groups with residents and businesses
 Secondary data:
o Property value and rental rate data from real estate databases
o Census data on demographics and economic indicators
o Smart city project reports and government documents
Statistical Tools:

 Descriptive statistics: To summarize and describe the data, including central

tendencies, variability, and distributions.
 Correlation analysis: To examine the strength of relationships between variables.
 Regression analysis: To test hypotheses about the impact of independent variables on
dependent variables, controlling for other factors.
 Qualitative data analysis: To thematically analyse interview transcripts and focus
group discussions.

Justification for Statistical Tools:

 The choice of statistical tools should be based on the research

questions, hypotheses, and the nature of the data collected.
 Descriptive statistics provide a foundation for understanding the data.
 Correlation analysis helps to identify potential relationships between variables.
 Regression analysis allows for testing of causal relationships and controlling for other
factors.
 Qualitative data analysis is essential for understanding the
perspectives, experiences, and opinions of stakeholders

CHAPTER 4
RAVI SINGH
UID-2023-0208-0001-0003
DEMOGRAPHIC PROFILE OF RESPONDENTS
  The pie chart shows the age distribution of respondents to a questionnaire. There are
three categories: Less than 18 years old, 18-21 years old, and 22-25 years old.
 The largest percentage of respondents, 46.7%, fall into the 22-25 age group. This is
followed by the 18-21 age group, with 26.7% of respondents. The smallest percentage
of respondents, 26.7%, are under 18 years old.

Current role

 Current Role
 73.3% policymakers
 20% investors
 6.7% developers
 0% brokers
 40% of people says most important need for developing smart cities for modern
infrastructure.
 26.7% of people says environmental friendly is an important need for developing
smart cities
 20% of people think boost economic growth is an important need for developing
smart cities
 13.3% of people think convenient public transportation is an important need for
developing smart cities

 100% people think that smart cities impacts positively on Real Estate
 From the above graph we can easily say that
 53.3 % of people are belong from Tier 2 city
 33.3% of people are belong from Tier 1 city
 13. 3% of people are belong from Tier 3 city

 66.7% of people perspectives on smart city features are satisfied

 33.3% of people perspective on smart city features are highly satisfied
 60% of people says that it impacted highly on real estate values
 40% of people says that it impacted medium on real estate value

 40%of people living in smart city from 1-2 year

 26.7% of people living in smart city from more than 5 year
 20% of people living in smart city from 3-5 year
 13.3% of people living in smart city from less than 1 year
 60% of people says that they are having good experience with smart city
 33.3% of people says that they are having best experience with smart city
 6.7% of people says that they are having average experience with smart city

 40% of people says that they need to be transparent

 33.3 of people says that align private sector and public sector is a challenge for
smart city
 20% of people says that regularly updated with technology is challenge for
smart city
 6.7% of people says that good Connectivity is a challenge for smart city
  60% of people says that smart infrastructure is most important factor which
affect buying decision
 13.3% of people says that connectivity, transportation and clean and
sustainable environment is important factor which affect buying decision

 46.7% of people says that by doing citizen welfare information technology helps in
the development of smart cities
 40% of people says that by providing better quality of government services
information technology help in development of smart cities
 13.3% of people says that by improving operational efficiency information
technology helps in the development of smart cities

CHAPTER 5
FINDINGS AND CONCLUSION

Findings from Analysis:

 Increased Demand: Smart cities attract businesses and residents seeking improved
infrastructure, efficiency, and quality of life. This leads to higher demand for both
residential and commercial real estate in designated areas.
 Premium Pricing: Properties within smart city initiatives often command premium
prices due to the enhanced amenities, connectivity, and sustainability features. This
creates lucrative opportunities for developers and investors.
 Shifting Preferences: Consumer preferences in both residential and commercial
sectors are evolving towards smart amenities like automation, energy efficiency, and
data-driven services. This drives demand for spaces equipped with such features.
 Evolving Infrastructure: Smart city development necessitates upgrades in
transportation, waste management, energy grids, and public spaces. This improves the
overall investment attractiveness of the real estate market within the designated area.
 Data-Driven Insights: Real estate developers and investors can leverage data analytics
to gain valuable insights into property demand, pricing trends, and optimal locations
within smart cities, enabling better decision-making.

Suggestions:
  Targeted Development: Focus on creating a mix of residential and commercial spaces
catering to diverse needs and income levels within smart cities to ensure inclusivity
and sustainability.
 Public-Private Partnerships: Foster strong partnerships between public and private
players to facilitate funding, infrastructure development, and efficient implementation
of smart city initiatives.
 Skill Development: Equip the workforce with relevant skills in data
analysis, automation, and smart technologies to support the operation and
maintenance of smart city infrastructure and real estate spaces.
 Transparency and Governance: Ensure transparent governance and data privacy
regulations to build trust and encourage participation from residents and businesses in
smart city initiatives.
 Sustainability Focus: Design smart cities with an emphasis on renewable
energy, green spaces, and efficient resource management to create a healthy and
sustainable urban environment that attracts long-term investment.

Conclusion:

Smart city development presents significant opportunities for the residential and commercial
real estate markets. By embracing innovative technologies, fostering collaboration, and
focusing on sustainability, cities can create attractive and thriving real estate ecosystems that
benefit residents, businesses, and investors alike.

Managerial Implications:

 Real estate developers and investors must adapt their strategies to cater to the
evolving needs and preferences of smart city residents and businesses.
 Data analytics should be integrated into decision-making processes to identify high-
potential locations, optimize pricing strategies, and manage investment risks.
 Collaboration with government agencies and tech companies is crucial to leverage
resources and expertise in developing smart real estate solutions.
 Continuous innovation and adaptation are key to stay ahead of the curve in the rapidly
evolving smart city landscape.
 Internship Designation & Duration

Designation: Sales Manager intern

Duration: 45 days (4 Dec to 18 Jan)

Internship-Roles & Responsibilities

Internship Daily Routine-Task & Work Process

1. Critically analyses the sector and company: Analyze the sector- real estate and
company information in Company products and services. Learn the business model of
the company and competitor analysis.

2. Do a detailed study on the Product as well as concepts of real estate: I'm in the
part of Teerth Group where we must do a detailed study on the Teerth project, Mater
layout, floor layout, and connectivity within 10 km, and also learn basic terminologies
in real estate.

3. Channel partner acquisition: I was given a location in west Pune as an intern. And
my job is to look for and speak with local real estate brokers. I discuss the company's
projects with them, outline all the benefits of doing business with them, and make an
effort to persuade them by looking for clients for the business.

4. Channel partners follow-up: I was also given the task to meet or call existing
channel partners and enquire about their steps to acquire more customers. For the
channel partners who have not visited the project site even once, I try to fix a date on
which the broker can visit the site.

5. Client follow-up: After the client receives information about the project, it was my
responsibility to follow up with them to evaluate their interest in it and, if they liked
it, encourage them to complete the deal.

6. Data mining from RERA: Did the data mining on the CP base sheet from the RERA
(Real Estate Regulatory Authority) website to collect the information about channel
partners,
7. Explain the model to the clients: Give a brief explanation of the clusters of the
project model to the client according to their requirement bases.

8. Show Sample Gallery to the clients as well as CPs: We showed sample flats to the
clients and also the Channel partners to give them an overview of the project and
understood the whole layout of the model,

9. Site Visit: I did a site visit of the Teerth Avila , Kumar Parth, Somani Dreams visited.

10. Gathering Surrounding information: Gathering information about surrounding

districts, eateries, hospitals, schools, etc. which is crucial for the closing process.

Expected Competency (Knowledge & Skill & Attitude)

1. We should critically analyze the sector and company information in Company products
and services. Learn the business model of the company and competitor analysis.

2. Understand the distribution strategy of the company in both consumer and business
markets. Learn the purchase orientations of customers. Explore the functions like Beat
plan and execution. Handling distribution channels and challenges.

3. Study consumer behaviour concerning different products of the company and critically
analyze the factors affecting the consumer decision-making process. Define Market
Segments, map appropriate products to target, Identify and make positioning strategy for
the products

4. Learn the personal selling function of the department and the organizational process.
Learn about various skills and competencies required and various job responsibilities
being performed and various levels in the organization and accordingly plan your
learnings and strategies for the person selling approach.

5. Study the digital presence of the company and understand its strategy for digital
marketing. Learn various practices being performed from the digital front. Learn the
impact of digital marketing for the company on sales and profitability.

6. Learn about the organizational structure and the department's direct selling
function. Plan your learnings and plans for the person selling approach after learning
 about the numerous skills and competencies needed, the various job duties being
done, and the various levels in the business.

7. Summaries all your learnings. Identify the areas of additional learning. Explore
various inputs required to complete the research paper. Collate the information and
make the WIP report and get it approved by the internal and external mentor.

Achieved Competency with justification (Knowledge & Skill &

Attitude)

Overall Learning outcomes

1. Analyze the Real estate and BHK Realty information in products and services.
2. Understand the distribution strategy of the company in both consumer and business
markets.
3. Learn the purchase orientations of customers.
4. Analyze the factors affecting the consumer decision-making process.
5. Learn about various skills and competencies required in real estate and various job
responsibilities being performed and various levels in the company.