A REPORT

ON

“A STUDY ON CONSUMER PERCEPTION AND BUYING BEHAVIOR

FOR RESIDENTIAL BUILDINGS IN HYDERABAD”

BY
Kurakula Amarendar
Enrollment No – 22BSPDD01C092
(ICFAI Business School Dehradun)

1
 A REPORT ON
“A STUDY ON CONSUMER PERCEPTION AND BUYING BEHAVIOR
FOR RESIDENTIAL BUILDINGS”

BY
Amarendar Kurakula
Enrollment No-22BSPDD01C092
ICFAI University Dehradun

A report submitted in partial fulfillment of the requirement of

MASTER OF BUSINESS ADMINISTRATION

Program of

IBS DEHRADUN

Distribution List

Faculty Guide: Mr. Sohail Yasin Ahmad

Company Guide: Mr. Anand Kumar

2
 AUTHORISATION

The report is submitted by Kurakula Amarendar, enrollment number:22BSPDD01C092 is a

summary of the work carried till date in Sri sri Gruhanirman India Pvt Ltd. in partial
fulfilment of the requirement for the MBA program of IBS Dehradun under the guidance of
Mr. Anand Kumar.

Company guide: Mr. Anand Kumar

Faculty guide: Mr. Sohail Yasin Ahmad
Name of the company: Sri sri Gruhanirman India pvt ltd
IBS Dehradun.

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 ACKNOWLEDGEMENT

I would like to express my sincere thanks to Mr. Anand Kumar, the company guide and the
general manager of the company for providing me with this opportunity to work under their
guidance. Through this internship I am gaining the practical experience and applying the
theoretical knowledge to the real- life problems which helps for my professional growth.

I would like to express my gratitude towards Professor Mr. Sohail Yasin Ahmad, My faculty
guide for his valuable suggestions and support for this internship program.

Furthermore, I would like to thank the team members of Sri sri Gruhanirman and the
management and the Faculty of IBS Dehradun for their support and encouragement for doing
this internship

Sincerely,

Kurakula Amarendar,

IBS Dehradun.

4
 TABLE OF CONTENTS

S.no Particular’s Page no

1. Title page 1

2. Authorization 3

3. Acknowledgement 4

4. Abstract 6

5. Executive summary 7

6. Chapter 1-Introduction 8

7. Chapter 2 - Learnings from sip 37

8. Chapter 3 -Literature review 40

9. Chapter 4 - Research methodology 45

10. Chapter 5 -Data analysis and 48

interpretation
11. Findings 64

12. Recommendations 65

13. Conclusion 66

14. References 67

15. Appendix 68

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 ABSTRACT

Indian real estate has been a mixed bag of growth and decline in residential constructional zone.
The population growth and migration from rural to urban areas has considerably changed the
outlook of realty in urban and its adjoining areas. The objective of the study is to know the
consumer perception and buying behaviour for residential properties. Keeping in mind the
aims, objectives and the fact that all the respondents for the study were educated, structured
questionnaire is used for data collection. The questionnaire consisted various aspects like open
ended, close ended, multiple choice etc. The study concluded that consumer have become very
much decision maker they took into consideration so many aspects like the brand of the
developer, price of the property, location of the property, future expectations of the property.
Income level of the buyer plays an important role in buying decision.

The aim of this research is to delve into the fascinating world of consumer perception and
buying behaviour in the context of residential buildings. In today's dynamic real estate market,
it is crucial for developers and marketers to comprehend how consumers perceive and make
decisions about purchasing residential properties. This study seeks to bridge the existing
knowledge gap by examining the key factors that influence consumer perception and buying
behaviour in this domain.

To achieve our objectives, we will employ a mixed-methods approach, combining qualitative

and quantitative research methods. Qualitative techniques, such as interviews and focus groups,
will help us gain deep insights into consumers' thoughts, preferences, and motivations. We will
also conduct surveys to gather quantitative data, enabling us to analyse and generalize the
findings to a broader population.

The research will focus on various aspects, including the importance of location, amenities,
price, design, and quality in shaping consumer perceptions. We will investigate how consumers
prioritize these factors and identify any variations based on demographic variables such as age,
income, and family size. Furthermore, the study will explore the influence of marketing
strategies, word-of-mouth recommendations, and online reviews on consumer decision-making
processes.

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 EXECUTIVE SUMMARY

The Summer Internship Program (SIP) is an important component of MBA program at IBS.
With the theory knowledge I have joined SRI SRI GRUHANIRMAN INDIA PVT LTD., to
get more exposure towards the corporate world by implementing the theoretical knowledge in
the practical working environment.

This internship report presents a comprehensive analysis of consumer perception and buying
behavior related to residential buildings in Hyderabad. The study aims to uncover insights into
the factors that influence consumers' perceptions and decisions when purchasing residential
properties in the city. Through a combination of quantitative and qualitative research methods,
including surveys and interviews, this report examines key aspects such as location
preferences, amenities, pricing, and trustworthiness of developers.

The main objective of the report is

1. To identify the link between builders’ image and consumer perception that influence
consumer purchase decision of residential property

2. To examine the factors that influence consumer perception of products or services and
their impact on buying behavior

The data has been collected from the customers who visited the company for the enquiries to
purchase the property, therefore the sample area is Hyderabad (i.e., customers who visited the
company is the sample size.)

The survey was made on both the primary and secondary data

1. Primary Data: Structured questionnaire has been used.

2. Secondary Data: Literature review is collected from journals, articles, magazines, and
various websites and company records and brouchers.

The findings highlight the significance of factors like location convenience, quality of
construction, and trust in developers as primary drivers of consumer decision-making. The
report concludes with strategic recommendations for developers and marketers to enhance their
understanding of consumer preferences, tailor offerings, and improve marketing strategies to
align with the identified trends in consumer behavior within the Hyderabad residential
real estate market

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 CHAPTER-1. INTRODUCTION

Consumer perception and behaviour

Some selected definitions of consumer behaviour are as follows:

1. According to Engel, Blackwell, and Mansard, ‘consumer behaviour is the actions and
decision processes of people who purchase goods and services for personal consumption’.

2. According to Louden and Bita, ‘consumer behaviour is the decision process and physical
activity, which individuals engage in when evaluating, acquiring, using or disposing of goods
and services’

Perception definition: A motivated person is ready to act. How the person acts is
influenced by his or her own perception of the situation. All of us learn by the flow of
information through our five senses sight, hearing, smell, touch, and taste. However, each of
us receives, organizes, and interpret this sensory information in an individual way. Perception
is the process by which people select, organize, and interpret information to form a
meaningful picture of the world.

Factors affecting consumer behaviour

Why do we need to learn about consumer buying behaviour? The simple answer is that no
longer can we take the customers for granted. Consumer buying behaviour determines how our
consumers decide to buy our product and what are the various factors responsible for this
decision? To fully understand how consumer behaviour affects marketing, it's vital to
understand the two factors that affect consumer behaviour: psychological, personal, and social.

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What are internal influences on consumer buying behaviours?

Internal influences are personal influences and they include consumers’ perceptions, attitudes,
motivations and lifestyles. These internal influences affect consumers’ purchase decisions.

The major internal influences include:

1. Personality: Personality affects the way consumers search for information about products
or services that they want to buy, such as whether a customer is an active info seeker or a
passive info receiver.

2. Motivation: Motivation relates to consumers’ desire to obtain a certain product or service,

such as having the plan to purchase a product for a long time or being prompted to buy a product
by an advertisement on media.

3.Experiences: Get profile of your customer’s past experiences with the similar product or
service and even purchase process can have an impact on the future purchase decision.

What are external influences on consumer buying behaviors?

Consumers’ values, attitudes, beliefs and opinions are shaped by their cultural, social and

economic backgrounds. These external influences affect consumers’ attitude towards products
and services.

The major external influences include the followings:

1. Family influence: Family influence affects a consumer’s buying behavior both ways:

(a) The influence on the consumer’s personality, attitudes and evaluation criteria towards

products and services.

(b) The influence on consumer’s purchase decision-making process as the family members

are usually the first to be consulted with when the consumer plans to purchase a

product or service.

2. Influence from friends and colleagues: Friends and colleagues may not necessarily get

involved in the purchase decision-making process like family members would do, but often

serve as important-sounding boards for the ideas of products or serves purchase;

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3. Influence from an environment in which a consumer lives: Environmental influence

includes the location, the cultural atmosphere and the overall economic situation. The

products and services favored by consumers from NSW regional areas are often different

from those of Sydney. Customers in semi-tropical Darwin are also likely to have different

requirements for products and services than the residents in Adelaide.

4. Culture: Culture refers to the traditions, taboos, values and basic attitudes of the whole

society within which an individual lives. It is essentially associated with a certain nationality

or religious identity of an individual. Cultural norms are learnt by an individual from

childhood and their influence are so ingrained that it is invisible in everyday behavior.

Culture teaches an individual the acceptable norms of behavior and tells him the rights and

wrongs. When an individual deviates from acceptable norms, certain sanctions are imposed

on him.

4. Influence from Advertising: A well-written strategically-placed advertisement has the

power to change consumer behavior if it delivers what is promised. Advertisements can

draw consumers’ attention to the problems that they may not consciously notice or consider

there is no need to be resolved. And if an ad makes a convincing beneficial evaluation of the

product or service, it can help consumers to make a positive purchase decision.

Nature of Consumer Behavior

1. Process: Consumer behavior is a systematic process relating to buying decisions of the

customers. The buying process consists of the following steps;

• Identification to buy the product.

• Information search relating to the product.
• Listing of alternative brands.
• Evaluating the alternative (cost-benefit analysis)
• Purchase decision.

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 • Post-purchase evaluation by the marketer.

2. Influenced by Various Factors: Consumer behavior is influenced by a number of factors.

The factors that influence consumers include marketing, personal, psychological, situation
based, social, cultural etc.

3. Different for all Customers: All consumers do not behave in the same manner. Different

consumers behave differently. The difference in consumer behavior is due to individual

factors such as nature of the consumer’s life style, culture, etc.

4. Different for Different Products: Consumer behavior is different for different products.

There are some consumers who may buy more quantity of certain items and very low or no

quantity of some other items.

5. Region Bounded: The consumer behavior varies across states, regions and countries. For

instance, the behavior of urban consumers is different from that of rural consumers.

Normally, rural consumers are conservative (traditional) in their buying behavior.

6. Vital for Marketers: Marketers need to have a good knowledge of consumer behavior.

They need to study the various factors that influence consumer behavior of their target

customers. The knowledge of consumer behavior enables marketers to take appropriate

marketing decisions.

7. Reflects Status: The consumer buying behavior is not only influenced by the status of a

consumer, but it also reflects it. Those who own luxury cars, watches and other items are

considered by others as persons of higher status.

8. Spread-effect: Consumer behavior has a spread-effect. The buying behavior of one person

may influence the buying behavior of another person. For instance, a customer may always

prefer to buy premium brands of clothing, watches and other items etc.

This may influence some of his friends, neighbors, colleagues. This is one of the reasons

why marketers use celebrities like Shahrukh Khan, Sachin to endorse their brands.

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9. Standard of Living: Consumer buying behavior may lead to higher standard of living. The

more a person buys the goods and services, the higher is the standard of living.

10. Behavior Keeps on Changing: The consumer’s behavior undergoes a change over a

period of time depending upon changes in age, education and income level. Etc. for instance,

kids may prefer colorful dresses, but as they grow up as teenagers and young adults, they

may prefer trendy clothes.

NEED TO STUDY CONSUMER BEHAVIOUR

Behavior is the interaction with the surrounding ambiance, inherent in living creatures and
mediated by their external and inner activeness. Thus, consumer behavior is the actions of
consumers in the market place and the underlying motives for those actions. Marketers expect
that by understanding what causes consumers to buy particular goods and services, they will
be able to determine which products are needed in the market place, and which are obsolete
and how best to present those goods to the consumer.

The study of consumer behavior is the study of how individuals make decisions to spend their
available resources (time, money, effort) on consumption-related items. In the words of Walters
and Paul “consumer behavior is the process whereby individuals decide what, when, where,
how and from whom to purchase goods and services

Need to study consumer behaviour helps in many ways and some are as follows

1. Perception: Studying consumer behaviour helps marketers understand consumer

perceptions about a particular product or range of products. Uncovering and correcting
erroneous perceptions about a particular product may give marketers an additional competitive
advantage over competitors.

2. Attitudes: Consumer attitudes very often determine consumer beliefs about certain products.
Discovering consumer attitudes allows marketers in tune with their campaigns to resonate with
a particular consumer niche and deepen marketing reach

3. Cultures: Changing population demographics around the world affect the way marketing
campaigns are designed. Understanding cultural nuances and subtleties may allow marketers
to help further define their particular target market.

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4. Lifestyles: Consumer lifestyles also determine what products appeal to certain consumer
markets. Understanding consumer lifestyles is also a key component of consumer behavior that
lets marketers make the appropriate appeals in promoting lifestyle products and further
consumption of lifestyle products.

5. Experience: Like consumer attitudes, experience also covers consumer responses to certain
products. By studying consumer behaviour, marketing professionals can tap into consumer
experiences with similar products to promote consumption and gain competitive advantage
over competitors.

FACTORS INFLUENCING CONSUMER BEHAVIOUR

Consumer behaviour involves the psychological processes that consumers go through in

recognizing needs, finding ways to solve these needs, making purchase decisions (e.g., whether
or not to purchase a product and, if so, which brand and where), interpret information, make
plans, and implement these plans (e.g., by engaging in comparison shopping or actually
purchasing a product

The social environment can include both the mainstream culture (e.g., Americans are more
likely to have corn flakes or ham and eggs for breakfast than to have rice, which is preferred in
many Asian countries) and a sub-culture (e.g., rap music often appeals to a segment within the
population that seeks to distinguish itself from the mainstream population). Thus, sneaker
manufacturers are eager to have their products worn by admired athletes. Finally, consumer
behaviour is influenced by learning — you try a hamburger and make sure that it satisfies your
hunger and tastes good, and the next time you are hungry, you may consider another hamburger.

Consumer behaviour refers to the selection, acquisition and consumption of goods and services
to meet their needs. There are different processes involved in consumer behaviour. Initially, the
consumer tries to find what products you would like to consume, and then select only those
products that promise greater utility. After selecting the products, the consumer makes an
estimate of available funds that can happen.

There are several factors that influence consumer purchases, such as social, cultural, personal
and psychological. The explanation of these factors is as follows.

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1. Cultural factors: Consumer behavior is deeply influenced by cultural factors, such as

buyer’s culture, subculture and social class.

(a) Culture: Essentially, culture is the share of each company and is the major cause of the
person who wants culture and behavior. The influence of culture on the purchasing behavior
varies from country to country, therefore sellers have to be very careful in the

analysis of the culture of different groups, regions or even countries.

(b) Subculture: Each culture has different subcultures, such as religions, nationalities,
geographical regions, racial, etc. Marketing groups may use these groups, segmenting the
market in several small portions. For example, marketers can design products according to the
needs of a specific geographical group.

(c) Social Class: Every society has some kind of social class which is important for
marketing because the buying behavior of people in a particular social class is similar. Thus,
marketing activities could be adapted to different social classes. Here we should note that social
class is not only determined by income, but also there are several other factors such as wealth,
education, occupation etc.

2. Social factors: Social factors also influence the purchasing behavior of consumers. Social
factors are: the reference groups, family, the role and status.

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(a) Reference groups: Reference groups have the potential for the formation of an attitude
or behavior of an individual. The impact of reference groups varies across products and brands.
For example, if the product is visible as clothing, shoes, car etc. The influence of reference
groups will be higher. Reference groups also include opinion leader (a person who influences
others by his special skill, knowledge or other characteristics).

(b) Family: Buyer behavior is strongly influenced by a family member. So, vendors are
trying to find the roles and influence of the husband, wife and children. If the decision to
purchase a particular product is influenced by the wife of a buyer, then sellers will try to target
women in their advertisements. Here we should note that the purchase of roles changes with
changing lifestyles of consumers.

(c) Roles and Status: Each person has different roles and status in society in terms of
groups, clubs, family, etc. organization to which it belongs. For example, a woman working in
an organization as manager of finance. Now she is playing two roles. One is the chief financial
officer and the other one is mother. Therefore, purchasing decisions will be influenced by their
role and status.

3. Personal factors: Personal factors may also affect consumer behavior. Some of the
important factors that influence personal buying behavior include lifestyle, economic status,
occupation, age, personality and self-esteem.

(a) Age: Age and life-cycle have a potential impact on the purchasing behavior of consumers.
It is obvious that consumers change the purchase of goods and services over time. Family life
cycle consists of different stages as young, singles, married couples, and unmarried couples
etc. that help marketers develop suitable products for each stage.

(b) Occupation: The occupation of a person has a significant impact on their buying
behavior. For example, a marketing manager of an organization is trying to buy business suits,

while a low-level worker in the same organization buy - resistant clothing works.

(c) Economic Situation: Economic situation of the consumer has a greater influence on
their buying behavior. If income and savings a customer is high, then going to buy more
expensive products. Moreover, a person with low income and savings buys cheaper products.

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(d) Lifestyle: Lifestyle clients are another factor affecting import purchasing behavior of
consumers. Lifestyle refers to the way a person lives in a society and express things in their
environment. It is determined by the client’s interests, opinions, etc. and activities shape their
whole pattern of acting and interacting in the world.

(e) Personality: Personality varies from person to person, time to time and place to place.
Therefore, it can greatly influence the buying behavior of customers. In fact, personality is not
what one has, but is the totality of the conduct of a man in different circumstances. He has a
different characteristic, such as dominance, aggression, confidence etc. that may be useful to
determine the behavior of consumers to the product or service.

4. Psychological Factors: There are four major psychological factors that affect the
purchasing behavior of consumers. They include perception, motivation, learning, beliefs and
attitudes.

(a) Motivation: The level of motivation also affects the purchasing behavior of customers.
Each person has different needs, such as physiological needs, biological needs, social needs,
etc. The nature of the requirements is that some are more urgent, while others are less pressing.
Therefore, a need becomes a motive when it is most urgent to lead the individual to seek
satisfaction.

(b) Perception: Select, organize and interpret information in a way to produce a meaningful
experience of the world is called perception. There are three different perceptual processes
which are selective attention, selective distortion and selective retention. In case of selective
attention, sellers try to attract the attention of the customer, whereas, in case of selective
distortion, customers try to interpret the information in a way that supports what customers
already believe. Similarly, in case of selective retention, marketers try to retain information that
supports their beliefs.

(c) Beliefs and Attitudes: Client has specific beliefs and attitudes towards different
products. Because such beliefs and attitudes shape the brand image and affect consumer buying
behavior so traders are interested in them. Marketers can change beliefs and attitudes of
customers with special campaigns in this regard

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 Industry Profile:

The real estate industry plays a significant role in the Indian economy. It is one of the largest
contributors to the country's GDP (Gross Domestic Product) and employment generation. Here's
an industry profile of the real estate sector in the Indian economy:

Contribution to GDP: The real estate sector has a substantial contribution to India's GDP. It
contributes around 6-8% to the country's GDP, making it one of the key sectors driving
economic growth.

Employment Generation: The real estate industry is a major source of employment in India. It
provides direct employment to millions of people, including architects, engineers, construction
workers, real estate agents, and property managers. Additionally, the sector also has a significant
indirect employment impact on industries such as cement, steel, and manufacturing.

Investment and Capital Formation: Real estate is a preferred investment avenue for individuals
and institutional investors in India. It attracts both domestic and foreign investments, which
contribute to capital formation in the economy. The sector also acts as a catalyst for investments
in ancillary industries, such as construction materials and home furnishings.

17
Housing Sector: The residential real estate segment is one of the primary drivers of the Indian
real estate industry. The demand for housing is driven by factors such as urbanization, rising
income levels, and favourable demographics. The government initiatives like "Pradhan
Mantri Awas Yojana" and incentives for affordable housing have further boosted the housing
sector.

Commercial and Retail Spaces: The commercial real estate sector, including office spaces,
retail outlets, and shopping malls, is witnessing rapid growth. The expansion of industries, the
growth of organized retail, and the increasing presence of multinational corporations have led
to a rising demand for commercial real estate in India's major cities.

Infrastructure Development: The real estate sector is closely linked to infrastructure

development. The government's focus on initiatives like "Smart Cities Mission," "Housing for
All," and "Make in India" has resulted in increased infrastructure spending, including the
development of roads, airports, railways, and other urban amenities. These initiatives have a
positive impact on the real estate industry.

Regulatory Reforms: The Indian government has undertaken various regulatory reforms to
promote transparency and accountability in the real estate sector. The introduction of the Real
Estate (Regulation and Development) Act, 2016 (RERA) has increased consumer confidence
and streamlined the sector, protecting buyers' interests and ensuring timely project completion.

Challenges: The real estate sector in India faces certain challenges, such as project delays, high
construction costs, limited access to affordable financing, and regulatory complexities. Market
fluctuations, changes in government policies, and the impact of global economic factors can
also affect the industry.

Overall, the real estate industry in the Indian economy has a significant impact on GDP,
employment generation, infrastructure development, and investment inflows. The sector
continues to evolve with the implementation of regulatory reforms and government initiatives
aimed at promoting affordable housing and sustainable growth.

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Real Estate in Hyderabad
Hyderabad recently received a new feather in the cap: Tree city of the world. It was
previously praised for its infrastructure development and IT hub. Telangana's capital is home
to remarkable architectures, such as Charminar Fort and Golconda Fort. It has been called
"The city of Nizams". It is home to many religions and has a rich culture.

Hyderabad has an IT hub that provides many employment and growth opportunities.
Hyderabad's IT/Its sector has over 6 lakh people working in over 1500 companies, which is a
testament to the city's potential. Hyderabad's eminent markets attract investments in various
sectors such as pharmaceuticals, real property, health care, and others.

Demographics

Hyderabad has become a major metropolis with a population of around 1,026,99,000 by

2021. These numbers will likely increase with the 2.65% annual growth. The city is the
fourth-most populated country, thanks to its large population.

To understand the population graph, we can trace it back to the 1950s. The population
recorded in 1950 was 10,96,320, and this exploded to 1,004,144 in 2020. In three-quarters of
a century, the population grew nearly tenfold. Telangana's capital city has a population
density of 18,480/km2 (or 47,900/miles).

Linguistics and Culture

Due to the large Telugu- and Urdu-speaking population, there is a significant population in
the city. There are also minor numbers of people who speak other languages such as
Kannada, Marwari and Odia. Migrants from other countries occupy nearly a quarter of
Hyderabad, which is why many Hyderabadis practice different religions.

Hyderabad is home to many religions, as people from all parts of India travel down there.
Here is the breakdown of religions. The percentage of religions is as follows: Hinduism
(55%), Islam (41%), Christians (2.5%), Jainism (0.5%), Buddhism (0.02%), etc.

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Geography

Hyderabad covers 625 square miles. At an elevation of 542 metres, it covers 241 miles.
Hyderabad, one of the most populous metropolitan areas in the country, covers a large area. It
is located 1,566 kilometres (973 miles) south of Delhi, 699 km (434 Miles), South-east
Mumbai and 570 km (350 Miles), North Bengaluru. It is easily accessible to all the country's
major markets, attracting trade and business.

Hyderabad Investment Opportunities

For centuries, Hyderabad has been known for its bazaars. The vibrant markets in Telangana,
the state capital of Telangana, are often responsible for the incredible charisma of Hyderabad.
Investors have plenty of investment options in this town, which is ranked by JLL as the most
dynamic country globally by the renowned global real-estate consultancy.

The variety of investment options available entertains investors. Each sector has exhibited
impressive performances. Hyderabad is home to many developed investment sectors such as
Real Estate, Retail and High Network Businesses. Each sector has a success story to show
investors, and they can clear any doubts. These sectors are well worth your investment.

Why is Hyderabad the best place to invest in real estate?

Real estate is the most prominent investment sector out of all those mentioned, and this is due
to its evolution in line with changing markets. Today, the city markets are among the
country's eight most desirable real estate areas, and these factors make the city market stand
out from the rest.

Emerging IT hub

Hyderabad's IT corridor has adorned the city with sparkling structures and buildings filled
with professionals. These professionals increase the demand for residential real estate and the
sector.

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Development of fast-paced infrastructure

Infrastructure has grown exponentially as the IT industry supported other sectors, such as
these. Metro rail and other infrastructure projects have improved connectivity in the last mile
and elevated the surrounding area. This has fuelled the demand for real estate.

Be open to new opportunities

Markets that can adapt are the ones that see growth. Hyderabad is a city that responds
positively to technological changes and people's preferences. This adaptability creates
positive trends and positions the market in a better place. The city has welcomed new
investment options such as condos and co-living.

HMDA
The Hyderabad Metropolitan Development Authority (HMDA) was formed by an Act
(G.O.Ms.No.570 MA & UD (11) Dept., dt.25.08.2008) of the then combined state of Andhra
Pradesh Government in the year 2008, with an area of 7,257 Sq. Km under its purview. HMDA
jurisdiction covers (7) Districts, (70) Mandals, 1032 Villages including Greater Hyderabad
Municipal Corporation consisting of 175 Villages and 40 Municipalities / Nagar Panchayats
consisting of 138 villages and remaining 719 Villages under jurisdiction of the HMDA. HMDA
was set up for the purpose of planning, co-ordination, supervising, promoting and securing the
planned development of the Hyderabad Metropolitan Region. It coordinates the development
21
activities of the municipal corporations, municipalities and other local authorities, the
Hyderabad Metropolitan Water Supply & Sewerage Board, the Telangana Transmission
Corporation, the Telangana Industrial Infrastructure Corporation, the Telangana State Road
Transport Corporation, and other such bodies.

▪ Preparation of Metropolitan plan

▪ To Undertake Preparation of Metropolitan Development and investment Plan, Revision
of the plan and prioritize the implementation of the said plan
▪ To Undertake Execution of projects and schemes as per said plan and / or through action
plan for any sector or area of the Metropolitan region
▪ To create and manage the Hyderabad Metropolitan Land Development Bank and take
up land acquisition every year as may be necessary for various public uses, township
development, infrastructure development, etc
▪ Allocation of lands to local bodies and public agencies upon such terms and conditions
for undertaking development of amenities and infrastructure facilities
▪ To approve the land acquisition programmes /proposals of the local authorities, other
Departments and functional agencies in the Metropolitan region
▪ To enter into contracts, agreements or arrangements with any person, body or
organization as the Committee may deem necessary for the performance of its functions
▪ To acquire any movable or immovable property by purchase. exchange, gift, lease,
mortgage, negotiated settlement, or by any other means permissible under any law
▪ To perform any other function or exercise powers as are supplemental, incidental or
consequential to any of the foregoing duties and powers and I or take up such matters
as the Government may direct in this regard

TS RERA ACT
Investors have been frightened by the lack of a systematic approach to real estate investments.
RERA was established to end all of this and instil confidence in investors about the reliability
and delivery of real-estate projects. The Act was created on August 4, 2017, to legitimise real
estate and protect developers' and consumers' interests.

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TS RERA Rules and Regulations
RERA provides various services to citizens, real estate agents, and promoters. To ensure
continuity in Construction, developers must register their projects with RERA, and 70% of the
funds must be deposited in a RERA account. Real estate agents must also register and renew
their licenses at least every five years. As developers must update the status of each project
every few months, citizens can monitor the project's development.

TS RERA Registration
This structured approach includes a predetermined registration process to register projects
under RERA. Developers can visit the official website, see the services section, and then follow
the instructions to register the project. After filling out the project details, it is obligatory to
submit all required documents to RERA. Last, you will need to pay the RERA fees. This fee is
dependent on the type of project and the area. Similar registration procedures apply to real
estate agents and promoters.

Best Real Estate Investment Options for Hyderabad

Hyderabad's real estate market can make your investment more attractive. It is time to find out
the best real-estate investment opportunities in Hyderabad. There are many investment options
available if we focus on real estate investments.
There are three types of real estate investments: residential, commercial and specialty sectors,
such as co-living or luxury homes. The real estate market in Hyderabad has been volatile since
the outbreak, and some sectors, such as residential and office real estate, performed well
simultaneously. Investors should be aware of market trends before making investments that
will make them money.

Residential Real Estate

Residential properties are a great investment option. They provide steady, consistent returns
and the best work in difficult times. These properties can be used as a hedge against inflation.
Residential property is more than just a roof. The city experiences an influx of professionals
looking for work, so residential properties are a great option to rent. Residential properties are
also attractive to tenants in densely populated areas like Hyderabad because they are part of
the utility sector. Investors have many options for investment in the city market, including
residential plots, apartments and villas at affordable prices.

23
The best locations attract the highest prices because of their connectivity, resources, closeness
to the IT hub and infrastructure development. These areas should be considered when investing
in residential real property, and they are likely to increase the property's value, which is the
main motive for any investment.

Commercial Real Estate

Due to its lucrative returns, commercial real estate is a highly sought-after investment. The
investment opportunities are numerous and plentiful, including commercial showrooms, office
space, warehouses, data centres, and even offices. Due to Hyderabad's development in many
sectors, such as IT and the pharmaceutical industry, Hyderabad's commercial real estate has
seen a significant increase.

The location plays an important role in capital appreciation for commercial properties. The
property's prime location attracts tenants, which increases the trading and profits. Some places
work well for residential and commercial real estate, such as Narsingh. These locations are
attractive for commercial property investments and give investors a high return on their
investments.

Top Areas to buy properties in Hyderabad

• Gachibowli:

Gachibowli is becoming a popular investment area for working professionals due to its easy
commute to its hubs. The site is close to civic and social facilities, making it a pleasant place
to live. Gachibowli is close to many well-known companies. It also has clean and wide roads.
Residents can easily access all city areas from this area, making it convenient and safe.
Apartments in Gachibowli are for sale starting at rs.80 lakhs. It is a gated apartment community
located close to the big. Families with young children and elderly parents will find the nearest
service facility helpful in an emergency.

• Kukatpally

Kukatpally is a preferred real estate destination for more buyers because of its secure
connectivity to significant landmarks like schools, shopping malls, supermarkets, and other
businesses. Kukatpally offers spacious, luxurious properties in serene surroundings. All

24
 apartments have high-end amenities that allow you to spend time with family and friends
in peaceful surroundings. Apartments for Sale in Kukatpally include Korkkanda, Janani,
SDS, and Anusha.

• Miyapur

The arrival of the metro has made Miyapur one of the most desirable places in Hyderabad for
owning a home. The area is well connected to the metro station and the other regions of the
city. There are many apartments for sale in the area. The area is close to many famous schools,
colleges and banks. Miyapur properties below 80 lakhs include Srirangam Garden View,
SaiSuraksha, coconut Grove Phase 2, platinum pride and sailing.

• Kondapur

Kondapur has grown to be a significant business hub, with many software companies in the
vicinity. The area is ideal for professionals in the IT sector to live in. Kondapur offers spacious,
luxurious properties that are priced at an affordable price. Many purchases a home here because
of its proximity to all the amenities and hubs. Many properties in Kondapur fit your budget,
including KathiNivas, elite grace residency and Sri Sai Constructions.

Pros and cons of investing in Hyderabad

Pros
The market in Hyderabad has the best property prices and investment opportunities. The city
market has stunning properties at low prices compared to other major cities in the country. The
town offers investors a wide range of investment options, which allows them to make
profitable investments. Hyderabad is the place to find any real estate investment opportunity,
including student housing or co-living
Cons
Although Hyderabad's properties offer a high return on investment, it can be not easy to cash
large-ticket assets. This dynamic city is open to trending investments. That means renovating
or remodelling your existing properties. This will require a significant expense to remodel and
update the property in line with the current trends. The city allows all properties to be accessed
by anyone who can pay.

25
Ample Investment Opportunities
Asset monk allows investors to access the real estate market. Investors have many options
when it comes to features and investment yields.

High Yielding Investments

High expected IRR yields are possible for the platform's properties, up to 21% in current market
conditions. Asset monk allows investors to make profits on their investments.

Indian cities are normally categorised into three tiers:

Tier, I comprise the Delhi, Mumbai and Bangalore.

Tier II consists of Hyderabad, Pune and Chennai, the cities targeted by companies as
alternative off shoring destinations and which now possess a well-trained pool of skilled labour.

Tier III cities: But given the rising costs in Tier II cities in recent years, companies are
increasingly eyeing Tier III cities. These are cities with populations of more than a million (10
lakhs) are not yet completely established as outsourcing and off shoring destinations.

26
 COMPANY PROFILE

Sri sri gruhanirman has been started in the year 1995 and has completed 32 projects till date
and it is promoted by a visionary group of highly experienced real estate builders who has 20
years of experience in the field. If you desire a beautiful home that accommodates your
imagination at a affordable budget, choose Sri Sri. The chairman of the company is Sama
Narsimha Reddy and the M.D is Kura Pati Bhupathi Raju.

The reputed builders of Sri Sri Gruhanirman India Pvt. Ltd. have completed many residential
projects. The lavish green & unpolluted environment is a hub for those who desire peaceful &
luxurious life. Sri sri is one of the leading builders in Hyderabad an is well known for quality
construction, reliability and commitment. With a proven track record of developing housing
projects with comfortable facilities and modern amenities and other infrastructural support at
affordable prices.

Sri sri has so far completed more than 20 prestigious ventures successfully in Hyderabad like
Sri sri Homes, Sri sri Avenue, Sri sri Anthahpuram, Sri sri Arundhati, Sri sri Heaven Etc..
Creating eco-friendly ambience that nurtures and sustains happy living is the hall mark of sri
sri.

Features of our projects:

Sri Sri Gruhanirman India Pvt. Ltd is a Hyderabad real estate company that stands totally on
the trust placed on it by its valued patrons. The company returns this trust by continuously
building new edifices that carry the indelible mark of perfection. Whether a customer requires
a place for his administrative center or home, he needn’t compromise for anything but the best.

Another prominent feature is – Timely completion. Projects are completed on time while
ensuring that an increasing accent is placed on quality, comfort and style.

Spot on possessions is a major attraction that has endeared the company to a host of its trusted
customers.

The some of the appealing features that all 'Sri Sri Gruhanirman' ventures have are: Strategic
Location, Elegant design, Convenience, Quality, Conformity with Vaastu, Serene Climatic
Conditions, Idyllic Surroundings, and affordable rates and strict adherence to the legal aspects
like, for example, clear title.

27
Here is the list of ongoing projects

• SRI SRI AERO PARK

• SRI SRI AERO CITY

28
Completed projects

Sri Sri is one of the leading Builders in Hyderabad. Sri Sri Group are well known developers
and builders for quality construction, reliability and commitment to build and develop housing
projects that accomplishes our esteemed customers dreams by providing all the luxurious,
modern facilities, amenities and lively environment at very affordable prices

The reputed builders of Sri Sri Gruhanirman India Pvt. Ltd. successfully completed more than
20 prestigious ventures in Hyderabad. The lavish green & unpolluted environment is a hub for
those who desire peaceful and luxurious life.

They are..

• SRI SRI ARUNDATHI

• SRI SRI AVENUE
• SRI SRI VIHAR Etc..

Sri Sri Aero City

Sri Sri Gruhanirman Aero City is a project by Sri Sri Gruha Nirman in Hyderabad. Which was
started in the year 2014 It is a Ready to Move project. Sri Sri Gruhanirman Aero City offers
some of the most conveniently designed Apartment. Located in Bongloor, it is a residential
project. It has 700 units. There are 10 buildings spread over 6 acres in this project. Sri Sri
Gruhanirman Aero City offers some of the most exclusive 1 BHK, 2 BHK, 3 BHK. As per the
area plan, units are in the size range of 700.0 - 1793.0 sq.ft.. Launched in June 2016, Sri Sri
Gruhanirman Aero City is slated for possession in Dec, 2021. The address of Sri Sri
Gruhanirman Aero City is Service Road, Behind TCS, Adibatla, Bongloor.
Sri Sri Gruhanirman Aero City ensures a coveted lifestyle and offers a convenient living. If you
are a sports lover, there are provisions meant for you such as Cycling & Jogging Track.

Young families with kids can explore modern-arrangements for leisure and play such as
Children's Play Area, nearby apart from Swimming Pool.
All major banks such as HDFC, Punjab National Bank have approved home loans for Sri Sri
Gruhanirman Aero City.

Established in 2002, Sri Sri Gruha Nirman is a renowned developer firm. Till date, Sri Sri
Gruha Nirman has developed 12 projects with a focus on healthy and sustainable lifestyle.
Bongloor is well-connected to other parts of the city via an extensive road.

29
 350 flats are
2&3BHK Flats
10 Blocks
700 flats Remaining 350
flats are 1BHK &
studio Flats

SRI SRI AERO CITY

Location Map

30
SRI SRI AERO CITY LAYOUT

31
32
Floor plan for 1BHK

Floor plan for 2BHK

33
Floor plan for 3BHK

Specifications:

Sri sri aero city has been constructed in an area of 6 Acres and it is very much closer to the
TCS in Adibatla.

1. The project has been built in 10 blocks and named as A, B,C,D,,F,G,H,I,J.

2. The project consists of 700 flats
3. The project has 7 floors with cellar and stilt
4. 350 flats are 1BHK & Studio flats and the remaining 350 are 2BHK & 3BHK
5. 10 blocks are categorized into:
• A&D Blocks are 3BHK flats
• B, C, H Blocks are 2BHK flats
• E, G, J are 1BHK flats

• F & I Blocks are 1BHK and Studio flats.

34
 Dimensions of 1BHK From
2nd floor to 7th floor

35
 Dimensions for studio flats
In 1st floor

36
 Chapter-2 Learnings from SIP

• The most important thing I have learned from Internship is to implement theoretical
knowledge practically.
• Internship has provided me to gain industry knowledge
• Helped me improving my professional skills, such as communication, teamwork, and
problem-solving.
• Internship has helped me to learn professional etiquette.
• It enhanced me to adapt to the working environment.
• The most important thing that I have learned is the time management and self-
confidence.
• It helped to know the consumer buying behaviour

37
 Objectives of the Study

Objectives of SIP

• To identify the link between builders’ image and consumer perception that influence
consumer purchase decision of residential property and to identify the factors
influencing consumer perception while purchasing residential flats.
• To evaluate the impact of branding in real estate on customer decision making process.

38
 Scope of the study:

This research paper aims to investigate consumer perception and buying behaviour in the
context of residential properties. The study will focus on understanding the factors that
influence consumers' attitudes, preferences, and decision-making processes when purchasing
a residential property. The research will explore the demographic, psychographic, and socio-
economic factors that influence consumer perception and buying behaviour. This may include
factors such as age, income, education, lifestyle, and cultural background. The study will
analyse how consumers perceive and evaluate different attributes of residential properties,
including location, size, amenities, design, quality, and pricing. It will examine the relative
importance consumers attach to these attributes and how they impact their purchase decisions.
The study will consider cultural and regional variations in consumer perception and buying
behaviour for residential properties. It will investigate how cultural norms, values, and
preferences, as well as regional market dynamics and regulatory frameworks, influence
consumer decisions. It is important to note that this study will primarily focus on residential
properties and may not include other types of real estate, such as commercial or industrial
properties. The research will employ both quantitative and qualitative research methods,
including surveys, interviews, and data analysis, to gather insights into consumer perception
and buying behaviour

39
 Limitations of the study

• The main challenge for the research is the time constraint.

• The second limitation was allocation of funds.
• The third limitation is the collection of the accurate and complete data.

40
 Chapter-3 Literature review

SHETH, ET AL. (1991) – Theory of Consumption Value: One of the most up to date models
that explain consumers’ purchase behaviour is the consumption values model developed by
Sheth (1991a). Developed out of the effects of personal values on consumer behaviour,
consumption values (Sheth et al., 1991) is an important model that shows why a product is
preferred. Usefulness, strength of this theory is its simplicity as it is simpler in comprehending
customer perceived value through searching its dimensions (Aulia, et al., 2016) and this model
is excellent in assessing the diverse traits and attributes of products through exploring
customers’ judgement (Anima Shaun, et al., 2016). Criticism, However, it is also similarly vital
for consumption values in terms of preferences of product (Candan, et al., 2013) and this theory
merely show that the choice made by customers as well as merely dealing with voluntary and
logical selections instead (Anima Shaun, et al., 2016). Hence, the uncommon functionality
needs to be simplified (Anima Shaun, et al., 2016).

ZEITHAML (1988) – Model of Four Types of Perceived Value: Zeithaml (1988) asserts that
the perceived quality is regarded as benefits and that perceived price is considered as sacrifices
for particular products or services, or as a compromise between what is given and what is
received. Zeithaml (1988) model further classified four different elements of customer value
which elaborates “value as low price, value as whatever the consumer wants in product, value
as quality obtained from the price paid and lastly value as what consumer gets for what he or
she paid.”. Zeithaml’s model of perceived value has a direct influence on purchase intention
(Lundgren, 2013) and it allows for both benefits and sacrifices included in any action that
increase customer value (Klanac, 2013). Criticism, However, the difference between the
characteristics of the object and higher-level concepts does not exists in this theory (Klanac,
2013) as well as being unable to support the sources of value identification and reasons
foundations of values provision (Klanac, 2013). Additionally, this model is not tackling the
irrational experiences of the customers which is achievable via direct examination of customer
activities (Klanac, 2013). However, there are limitations for this model as this resorted to the
experience of service due to the multidimensional model defined by conventional aspects such
as the perceived benefit, perceived quality, as well as the perceived risk (Moosa & Hassan,
2015).

HOLBROOK (1999) – Typology of Consumer Value: The theory by Holbrook (1999) labelled
perceived value as an interactive relativistic preference experience in the context of

41
comparativeness, subjectivity and specificity. Furthermore, this theory suggests that factors
such as play, efficiency, status, excellence, spirituality, aesthetics, esteem, and ethics are values
which are individually different where customers may acquire via consumption and these
values are categorised according to three dimensions i.e., self- or other-oriented, extrinsic or
intrinsic, and active or reactive. This theory is considered as the most complete model in a
study by Sanchez-Fernandez & Iniesta-Bonillo (2007) and this is because it considered more
dimensions and aspects such as social, economic, hedonic, and selfless aspect. Moreover, this
theory also eases in the identification of the value dimensions if the perceived value is based
on customers’ needs (Aulia, et al., 2016). The idea of this model and framework is based on
the product value encompassing goods and services through three-dimensional aspects
(Holbrook, 1999). Hence, this theory is deemed as one of the appropriate frameworks in
determining customer perceived value (Moosa & Hassan, 2015). Criticism, However, this
theory has a complicated operationalization for certain value elements, for example the ethical
and spiritual value which are overlooked and there is ambiguity between elements like status
and esteem (Solomon, 1999). Moreover, it is not easy to classify perceived values to
differentiate between active and reactive sources.

WOODRUFF (1997) – Consumer Value Hierarchy Model: The theory of Woodruff consists
of goals of customers, their consequences as well as product attributes or performance, and
incorporating received value and desired value which concentrate on values themselves
according to customers’ assessments which changes over time. This theory provides insights
in understanding the customers’ needs instead of benefit-sacrifice method (Woodruff &
Gardial, 1996) which is outstanding in the clarification of the complication of perceived value
as well as aids in explaining the reasons behind customers judgements of various benefits in
evaluation of different kind of products (Khalifa, 2004). It also redirects the value emphasis
from attributes to consequences to yield value for distinct and strategic competitive advantage.
Criticism, However, this theory is unable to explain the customer perceived value diversity
(Sanchez-Fernandez & Iniesta-Bonillo, 2007) as well as being incapable to pinpoint the
attribute preference of customer values which shaped customer value. This is due to individual
preference of every customer regarding the features of a product (Aulia, et al., 2016).

42
MONROE (1985) – Price and Quality Model: This theory ascertains the product cost or price
perceived by customers as a method in assessing the perceived sacrifice against perceived
sacrifice (Anima Shaun, et al., 2016) which displays significantly positive relationship between
perceived quality and perceived price in terms of ranges of price as well as certain genres of
product (Venkataraman, 1981).Criticism, However, Monroe fails to incorporate dimensions
which evaluate customer perceived value as it comprises merely cost as the culprit in defining
customer perceived value (Anima Shaun, et al., 2016). In addition, Peterson & Wilson (2000)
deduced that the relationship between price and customer perceived quality are not always well
defined directly.

James A. Gaslamp, (2014) "Fundamentals of Real Estate Development”, “Journal of Property

Valuation and Investment”, Vol. 10 Is: 3, pp.619 – 639Notes the real estate development
process involves three major groups – a consumer group, a production group and a public
infrastructure group. Comments that a major limitation shared by all groups is that each has a
cash cycle enterprise which must remain solvent to survive. Concludes that the best risk
management device for the producer group is through research so that the development product
fits as closely as possible the needs of the tenant or purchaser, the values of the politically active
collective consumers and the land use or the ethic of the society.

K. Saratbhai, (2015) Future Directions in Real Estate Research, “Journal of Property

Valuation and Investment”, Vol. 11 Iss: 4, pp.327 – 337Addresses how real estate has performed
as an investment, the efficiency of real estate markets, valuation issues, the pricing of contract
contingencies, prices and price setting and the agency business. Concludes that the list of
research questions is growing and there is a high level of both public and private sector interest
in the answers that can be provided

W. Bhatt, (2013) "A different look on risks by property investments", “Journal of Indian Real
Estate Research”, Vol. 1 Iss: 2, pp.151 – 161This paper aims to focus on three points of the
theory about property investment risks: the management risk is not taken into account; the
assumed regularity of the damping of the specific risks with an increase in the number of
investments; and the assumption that the market risk is constant.There are three risk component
within the risk profile instead of the named two, namely: specific risk, depends on special
individual factors of the investments; management risk, reflects the span of control problem of
the organization of the investor; and systematic risk, depends on distinguishing local levels.
The calculations do show the effect of diversification, but not in all cases. It depends on the

43
order in which assets associated with different risks are added. Moreover, management and
systematic risk work cumulative and opposed to the difersifying power of the specific risk
because both increase with increasing portfolio size.

G.S. Sharma, (2013) "Risk and return in European property markets: an empirical
investigation", “Journal of European Real Estate Research”, Vol. 1 Iss: 3, pp.235 – 253The
purpose of this paper is to explore capital gains, income, and total returns in various property
markets in India. In a comparative study the nature of returns for different commercial and
residential properties is investigated. Hereby, total returns, income returns, and capital growth
are distinguished. The paper further presents an analysis of the risk-return relationship of the
different markets and investigates the interactions between property markets, other local
financial markets, and macroeconomic variables. Focusing on the risk-return relationship of
the different asset classes and countries, the Sharpe ratio is used as a risk-adjusted performance
measure to investigate the markets.

Engel et al. (2005) defined consumer behaviour as ‘those activities directly involved in
obtaining, consuming and disposing of products and service, including the decision processes
that precede and follow these actions. Moreover, Schiffman and Kanuk (2010) mentioned that
consumer behaviour is ‘the behaviour that consumers display in searching for purchasing,
using, evaluating and disposing of product, service and idea which they expect will satisfy their
needs’. Therefore, knowing the factors which influence the buying behaviour for a product
could increase the sales volume. Same holds true for residential apartments.

Mowen (1995) asserts that the conceptualisation of the decision-making process as ‘problem-
solving’ by Dewey (1910) is influential in aiding understanding and analysis. The decision lies
on a problem-solving continuum ranging from limited problem-solving to extended problem-
solving, according to Engel et al. (2005). This is similar to the high to low involvement model
by Krugman (1965), and the complex to habitual buying behaviour identified by Kotler and
Armstrong (2005). Involvement means the degree of relevance perceived by the purchaser
and the personal importance attached to the product and brand choice. Complex buying
behaviour is evident when the product is expensive, bought infrequently, risky and highly self-
expressive, and consumers are aware of significant differences among alternatives. There are
significant differences among apartment alternatives, and buyers should be highly involved
because buying apartment is the costliest of purchases for the majority of buyers, it is bought

44
infrequently, it is risky in that the chosen property may prove unsatisfactory and it is highly
expressive of the purchaser.

Study of decision-making process in buyer behaviour has attracted many researchers. It delves
upon developing and understanding a logic as to how purchasers exercise their choice between
two or more alternative products. Researchers try to understand the stages through which
consumers pass when deciding which products or services to purchase and their behaviour after
that choice. These matters have been extensively investigated over many years by marketers,
including Howard and Sheth (1969), Engel et al. (2005), Mowen (1995), Peter and Olson
(2001) and Hoyer and MacInnis (1997).

Kotler and Amstrong (2005), Mowen (1995) and Engel et al. (2005) suggest that there is a
generic decision-making process. Rossi (1980), Law and Warnes (1982) and Livette` (2006)
have used the same model of decision-making process for evaluating housing options.

Many attempts have been made to identify factors that influence the buyer behaviour for
residential apartments. The features of the apartment structure itself will be an important
determinant of a household choice of residence (Quigley, 1976). Neighbourhood quality, local
public services and quantity of housing services also affect the choice of residence (Friedman,
1980; Gabriel and Rosenthal, 1989; Hua Kiefer, 2007). Nechyba and Strauss (1997) found that
public expenditures, tax, crime rate, commercial activity are factors influencing buying
decisions.

45
 Chapter-4 Research Methodology:

What is Research:

Research is an academic activity and as such the term should be used in a technical sense.
According to Clifford Woody research comprises defining and redefining problems,
formulating hypothesis or suggested solutions; collecting, organising and evaluating data;
making deductions and reaching conclusions; and at last, carefully testing the conclusions
to determine whether they fit the formulating hypothesis. D. Slesinger and M. Stephenson in
the Encyclopaedia of Social Sciences define research as “the manipulation of things, concepts
or symbols for the purpose of generalising to extend, correct or verify knowledge, whether that
knowledge aids in construction of theory or in the practice of an art.” Research is, thus, an
original contribution to the existing stock of knowledge making for its advancement. It is the
pursuit of truth with the help of study, observation, comparison and experiment. In short, the
search for knowledge through objective and systematic method of finding solution to a
problem is research. The systematic approach concerning generalisation and the formulation
of a theory is also research. As such the term ‘research’ refers to the systematic method
consisting of enunciating the problem, formulating a hypothesis, collecting the facts or data,
analysing the facts and reaching certain conclusions either in the form of solutions(s) towards
the concerned problem or in certain generalisations for some theoretical formulation.

Methodology/Design used:

Descriptive methodology

The descriptive method is a research methodology that focuses on describing and documenting
the characteristics, behaviours, or phenomena of a particular subject or population. It aims to
provide a comprehensive and detailed account of the research topic without necessarily
explaining causal relationships or making predictions. In the context of studying consumer
perception and buying behaviour of residential buildings, the descriptive method would involve
observing and documenting various aspects of consumer behaviour and their perceptions
without manipulating variables or conducting experiments.

In a descriptive study on consumer perception and buying behaviour of residential buildings,

researchers may collect data through surveys, interviews, or observations to describe factors
such as:

1. Demographic characteristics of potential buyers (age, income, etc.)

46
 2. Preferred amenities or features in residential buildings.

3. Factors influencing their purchasing decisions (location, price, design, etc.).

4. Sources of information that influence their perception and decision-making (online

reviews, word-of-mouth, etc.).

5. Preferred channels or platforms for property search and evaluation.

6. Factors influencing the perception of value for money.

7. Perceptions of safety, quality, and reputation of residential buildings.

Sources of Data collection:

Data collection methods are techniques and procedures used to gather information for research
purposes. These methods can range from simple self-reported surveys to more complex
experiments and can involve either quantitative or qualitative approaches to data gathering.
Some common data collection methods include surveys, interviews, observations, focus
groups, experiments, and secondary data analysis. The data collected through these methods
can then be analysed and used to support or refute research hypotheses and draw conclusions
about the study’s subject matter. For the collection of the data from customers a structured
questionnaire is used. The questionnaire consisted various aspects like multiple choice
questions was prepared.

Primary Data

The primary data is collected from the customers. For this purpose, direct personal interview
and a structured questionnaire was prepared.

Secondary Data

The secondar data and extensive literature were collected from journals, articles, magazines
and various websites. Information was also collected from company records, company data
base, and brochures.

Sampling

In this study, a non-probability type of sampling technique has been used.

Convenience sampling is a non-probability type of sampling technique and this technique has

47
been used in this study. In this sampling, the sample is drawn from that part of population who
visited the company.

Sample Area/Universe: Hyderabad

Sample Size: 90 Respondents

Sampling method: Convenient sampling

Research instrument: Structured questionnaire.

Statistical tool: for the representation of analysis of data,graphs and charts are used.

48
 Chapter-5 Data analysis and Interpretation:

Data analysis and interpretation refer to the process of examining and understanding collected
data to uncover meaningful insights and draw conclusions. For the representation of analysis
of data, graphs and charts are used. It involves analysing the data using appropriate statistical
or qualitative techniques, identifying patterns or trends, and interpreting the results in the
context of the research objectives

1Q) Gender

No of respondents Percentage

Male 55 61.1%

Female 35 38.9%

Total 90 100%

INTERPRETATION:

Among the 90 respondents, 61.1% were male and the remaining 38.9% were female. This
states that the male customers are more who are willing to purchase a property as they are the
decision makers of the family.

49
2Q) Age group

Age No of respondents Percentage

21-30 41 45.6%

31-40 25 27.8%

41-60 21 23.3%

Above 60 3 3.3%

Total 90 100%

INTERPRETATION:

From the collected data among 90 respondents the more people who has shown interest in
buying the property are the people who belong to the age group of 21-30 are more with a
percentage of 45.6%. and the second highest customers are in the age group of 27.8% and the
23.3% of customers belong to the age group of 41-60 years old and the remaining 3.3% of
people are above the age group of 60.

50
3Q) Type of your occupation

Category No. of respondents Percentage

Public sector 21 23.3%

Private sector 48 53.3%

Self employed 21 23.3%

Total 90 100

INTERPRETATION:

Among 90 respondents the more customers who visited the company were from the private
sector who contribute 53.3% and the remaining belongs to the public sector and self-employed
with a percentage of 23.3% from both sectors.

51
4Q) what is your annual income

No. of respondents percentage

Below 5 Lakh 25 27.8%
5-7Lakh 21 23.3%
7-10Lakh 24 26.7%
10-12Lakh 12 13.3%
Above 12Lakhs 8 8.9%
Total 90 100

INTERPRETATION

By considering the annual income of the customers who willing to purchase the property, the
income group of below 5Lakhs are more with a percentage of 27.8% when compared to all
and the remaining are 26.7% customers with annual income of 7-10Lakhs,23.3% of customers
with 5-7Lakh,13.3% with 10-12Lakhs and the last group is 8.9% with an income of 12lakhs
above income.

52
5Q) How important are the following factors in influencing your decision to purchase
a residential property? (Rate each factor on a scale of 1-5, with 1 being not important
and 5 being extremely important)

Factors Rank

Location 1

Amenities 2

Security 3

Price 4

Size (sqft) 5

INTERPRETATION: Among the 90 respondents on the basis of which factors are important
while taking decision to purchase a residential property, Location was ranked first, second was
amenities, third was security, fourth was price and Size was the last ranked.

53
6Q) What sources of information do you rely on when searching for residential
properties? (Select all that apply)

No. of respondents Percentage

Online real estate portals 31 34.4%
Real estate agents 53 58.9%
Print advertisements 35 38.9%
Social media 40 44.4%
Word of mouth 39 43.3%
Property expose/ events 33 36.7%

INTERPRETATION:

Based on the survey most of the customers are interested to take the information sources from
the real estate agents are 58.9%,44.4% customers are interested to take information from the
social media.43.3% of customers are willing to purchase of property from the word of mouth
source.38.9% customers take information from print media advertisements.36.7% of customers
collect information from property expos and events and remaining 34.4% of customers collect
information from online real estate portals.

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7Q) After getting adequate information about the property, how much time you
would take to buy that property

No. of respondents Percentage

With in 1 week 20 22.2%
1-4 weeks 28 31.1%
5-10 weeks 27 30%
10-20 weeks 11 12.2%
More than 20 weeks 4 4.4%
Total 90 100%

INTERPRETATION:

Among 90 customers 31.1% of them would like buy the property within 1-4 weeks,
remaining 30% would take 5-10 Weeks, and 22.2% will buy the property with in 1 week and
12.2% of them would take 10-20 weeks and remaining 4.4% would take more than 20 weeks
to buy the property.

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8Q) What are the biggest challenges or concerns you perceive when buying a residential
property?

No. of respondents Percentage

Financing options 9 10%
Location related factors 14 15.6%
Legal and regulatory aspects 29 32.2%
Market volatility and 18 20%
investment risks
Types of neighbour& 9 10%
affordable price
Real estate agent or broker 11 12.2%
related concerns
Total 90 100

INTERPRETATION:

Among 90 respondents 32.22% perceive that legal and regulatory aspects for buying
property is the biggest challenge for them, while other challenges were location related
factors with 15.6%, market volatility and investment risks with 20%, types of
neighbourhood & affordable prices with 10%, real estate agent or broker related concerns
with 12.2%

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9Q) If you are to arrange the finance to own a residential property, which one would
be your preferred one

No. of respondents Percentage

Self-financing 21 23.3%

Loans from bank 31 34.4%

Loan from Non-Banking 38 42.2%

Financial Corporations
(NBFC)

Total 90 100

INTERPRETATION

After analysing the data, most of the customers who want to take loans from Non-Banking financial
corporations are more with 42.2% and remaining customers would like to finance from banks with
34.45%, self-financing with 23.3%

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10Q) Would you be willing to pay a premium for a residential property with additional
sustainable features (e.g., solar panels, rainwater harvesting)?

No. of respondents Percentage

Yes 45 50%
No 23 25.6%
Depending on the amenities 22 24.4%
Total 90 100%

INTERPRETATION:

At the time of purchase of the property 50% of customers are ready to pay the premium for
extra additional features. The remaining customers who are not ready to pay are 25.6% and the
customers who said it depends are 24.4%.

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11Q) Type of the property you are willing to purchase?

No. of respondents Percentage

Residential 26 28.9%
Independent 34 37.8%
Gated community 12 13.3%
Villas 13 14.4%
Plots 5 5.6%
total 90 100

INTERPRETATION:

From the survey most of the customers are interested in buying the independent properties and
they are about 37.8% and the remaining 28.9% customers are interested in buying the
residential apartments and 13.3% are willing to buy in the gated communities,14.4% customers
are willing to buy villas and remaining 5.6% customers are willing to buy the plots.

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12Q) Preferred type of the property?

No. of respondents Percentage

1 BHK 26 24.4 %
2 BHK 34 37.8 %
3 BHK 12 37.8 %
Total 90 100

INTERPRETATION:

Among 90 respondents 37.8% customers prefer both 2BHK & 3BHK properties
and the remaining 24.4% prefer 1BHK.

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13Q) At what price range you are willing to purchase?

No of respondents percentage
25-40Lakhs 25 27.8%
40-80Lakhs 33 36.7%
80Lakhs-1croce 24 26.7%
More than 1 crore 8 8.9%
Total 90 100

INTERPRETATION:

From the survey 36.7% customers prefer purchasing the property between 40-80Lakhs,27.8%
customers prefer buying property at the price range between 25-40Lakhs,26.7% customers are
ready to buy the property at the price between 80Lakhs-1crore and remaining 8.9% are willing
to invest more than 1crore.

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14Q) Property Location?

No. of respondents Percentage

Central zone of Hyderabad 23 25.6%
East zone of Hyderabad 31 34.4%
West zone of Hyderabad 14 15.6%
North zone of Hyderabad 9 10%
South zone of Hyderabad 13 14.4%
Total 90 100

INTERPRETATION:

Among 90 respondents 34.4% want to buy their property in the east zone of Hyderabad ,25.6%
customers want in central zone,15.6% want in west zone,10% customers need their property in
north zone and remaining 14.4% want their property in south zone of Hyderabad.

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15Q) How do you perceive the direction facing of property while buying a property.

No. of respondents percentage

East facing 61 68.5%
West facing 9 10.1%
North facing 11 12.4%
South facing 8 9%
Total 90 100

INTERPRETATION:

In facing of the property 68.5% prefer East facing of the property while 12.4% prefer North
facing,10.1% prefer West facing and the remaining 9% prefer the south facing of the property.

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16Q) Which source of information influences your purchase decision for residential
properties

No. of respondents Percentage

Personal sources 15 16.7%
Professional sources 25 27.8%
(Brokers, property dealers)
Commercial 36 40%
(Advertisements& other
promotional activities)
Internet & interactive 14 15.6%
medium (social media)
Total 90 100%

INTERPRETATION:

Among 90 respondents 40% customers are influenced by the commercial sources

while remaining influenced from the sources like professional sources 27.8%,
personal sources 16.7%, internet and interactive medium 15.6%

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 Findings:

1. In purchasing of the property male customers have visited more when compared to the
female. from this we can state that male customers might be the decision makers.
2. The young working customers are more when compared to the others who visited the
company for the enquiry.
3. The customers who visited the company are more and they are from the private sector.
4. The income group below 5 lakhs are more when compared to the others whose income is
above 12 lakhs.
5. Location and the amenities are the most influential factors while investing in the real
estate.
6. While making an investment in the real estate most of the customers would rely on the
real agents for the information sources.
7. Most of the customers after getting all the details of the property, they would take 1-4
weeks for buying the property while some take 5-10 weeks and within 1 week.
8. Most of the customers feel that, legal and regulatory aspects are the biggest concerns for
them while buying a property.
9. When customers are ready to buy a property, they would like to financing options from
the Non-Banking Financial Corporations and loans from the bank.
10. To keep environment sustainably most them would like to pay extra premium at the time
of purchase of property and some customers are likely to pay depending on the amenities
the builder would offer.
11. Most of the customers would like to live in the independent residential buildings.
12. Compared to 1BHK residential buyers,2&3BHK buyers are more.
13. Most of the customers wanted their property should be affordable and should be in a price
range of 70-80Lakhs.
14. Based on the preferred zone, most of them wanted their property in east zone of
Hyderabad.
15. As most of the Indians have beliefs on their traditions and culture most of them would
prefer east facing of the property.
16. The most influential source for purchase of the property was from commercial sources.

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 Recommendations

1. Company should focus on the importance of location and neighborhood factors in

influencing consumer perceptions and buying behavior for residential buildings.
2. Investigate the property features and amenities that have an impact on consumer decision-
making in the residential real estate market.
3. Assess the influence of price perception and affordability on consumer preferences and
purchasing choices for residential buildings.
4. Explore the role of sustainability and energy efficiency in shaping consumer perceptions
and preferences for residential properties.
5. Analyze the impact of online resources, such as property listings and virtual tours, on
consumer perception and decision-making for residential buildings.
6. Investigate the influence of social factors, including recommendations from friends, family,
and social media influencers, on consumer buying behavior in the residential real estate
market.
7. Examine the effectiveness of marketing and advertising strategies in influencing consumer
perceptions and motivating purchase decisions for residential properties.
8. Identify and segment consumer groups based on their perceptions, preferences, and buying
behavior for residential buildings to develop targeted marketing and sales strategies.
9. Evaluate the significance of trust and reputation factors, such as developer reputation and
customer reviews, in consumer decision-making for residential real estate.
10. Company should Consider the facing of the property to optimize natural light, energy
efficiency, and potential resale value. As most of the Indians prefer east facing of their
property.

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Conclusion:

The study highlighted the significance of consumer perception in shaping their buying
behaviour, emphasizing the crucial role of factors such as location, amenities, price, quality,
and reputation. It was observed that consumers prioritize these aspects differently based on
their individual preferences, lifestyle, and financial considerations. Understanding these
variations is essential for developers and marketers to tailor their strategies, aligning their
offerings with the specific needs and desires of their target audience.

This research report focused on how people think and make decisions when buying residential
buildings. It revealed important factors that influence their choices. The location, amenities,
price, quality, and reputation of a property all play a role in how consumers perceive and decide
to buy a home.

Technology and the internet also have a big impact on consumer behaviour. Online resources,
virtual tours, and reviews help people form opinions about properties. Developers should use
digital platforms effectively to engage with potential buyers and provide them with useful
information.

Overall, this research report provides valuable insights for me in the real estate industry. By
considering these findings, we can make better decisions, create targeted marketing campaigns,
and design residential buildings that meet the needs and expectations of buyers today.

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References

Websites:

1. https://www.honestbroker.in/blogs/complete-guide-about-hyderabad-real-estate-
market
2. https://housing.com/in/buy/projects/page/36450-sri-sri-gruhanirman-aero-city-by-sri-
sri-gruha-nirman-in-bongloor
3. http://www.srisrigruhanirman.com/

Referred books and authors

• Principles of marketing,17th edition, Kotler, Armstrong, Agnihotri.

• Int. J. Indian Culture and Business Management, Vol. 6, No. 1, 2013 Mansi Misra,
Gagan Katiyar and A.K. Dey
• Journal of Technology Management and Business (ISSN: 2289-7224) Vol 5, No 2,
2018 Jeremy Tsang Tsun Hoe, Omkar Dastane, Karthik Selvaraj
• Research methodology methods and techniques: Author CR Kothari, New Age
International Publishers (2004)
• IPASJ International Journal of computer science (IIJCS) Volume 5, Issue 9, 2017
• W. Bhatt (2013) Journal of Indian real estate research, Vol.1 Issue 2
• G.S. Sharma (2013) volume.1, issue 3
• International journal of 360 Management review, Vol.06, issue 02,2018

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 Appendix

Questionnaire

1Q) Name?
_______________________________________________________________________

2Q) Gender?

o Male
o Female

3Q) Age group?

o 21-30
o 31-40
o 41-60
o Above 60

4Q) Type of your occupation?

o Public sector
o Private sector
o Self employed

5Q) what is your annual income’s?

o Below 5Lakhs
o 5-7Lakhs
o 7-10Lakhs
o 10-12Lakhs
o Above 12Lakhs

6Q) How important are the following factors in influencing your decision to purchase a
residential property? (Rate each factor on a scale of 1-5, with 1 being not important and 5
being extremely important)

o Location
o Price
o Size/space(sqft)

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 o Amenities (e.g., swimming pool, gym, park)
o Security
o Proximity to schools/shopping/transport)
o Quality construction
o Reputation of developer/builder

7Q) What sources of information do you rely on when searching for residential properties
(select all that apply)

o Online real estate portals

o Real estate agents
o Print advertisements
o Social media
o Word of mouth
o Property expo/ events

8Q) After getting adequate information about the property, how much time you would take to
buy that property?

o With in 1 week
o 1-4 weeks
o 5-10 weeks
o 10-20 weeks
o More than 20 weeks

9Q) What are the biggest challenges or concerns you perceive when buying a residential
property?

o Financing option
o Location related factors
o Legal and regulatory aspects
o Market volatility and investment risks
o Types of neighbourhood & affordable prices
o Real estate agent or broker related concerns

70
10Q) If you are to arrange the finance to own a residential property, which one would be your
preferred one?

o Self-financing
o Loans from bank
o Loans from Non-banking financial corporations

11Q) Would be willing to pay a premium for a residential property with additional sustainable
features (e.g., Solar panels, rain water harvesting)

o Yes
o No
o Depending on the amenities

12Q) Type of the property you are willing to purchase?

o Residential
o Independent
o Gated community
o Villas
o Plots

13Q) preferred type of the property?

o 1BHK
o 2BHK
o 3BHK

14Q) At what price range you are willing to purchase?

o 25-40Lakhs
o 40-80Lakhs
o 80Lakhs-1crore
o More than 1 crore

15Q) Property location

o Central zone of Hyderabad

o East zone of Hyderabad
o West zone of Hyderabad

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 o North zone of Hyderabad
o South zone of Hyderabad

16Q) How do you perceive the direction facing of property while buying?

o East facing
o West facing
o North facing
o South facing

17Q) What sources of information influence your purchase decision for residential
properties?

o Personal sources
o Professional sources (Brokers, property dealers)
o Commercial (Advertisements& promotional activities)
o Internet and interactive medium (social media)

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Approval letter:

73
Category of zones:

74