PROJECT REPORT

ON
COMPETITION MAPPING IN REAL ESTATE
INDUSTRY - SUPERTECH LIMITED

Submitted by:
MR. SAURABH RUSTAGI
PGDM
ENROLLMENT NO. - 1421000910
SESSION: 2014-2016

IMT
INSTITUTE OF MANAGEMENT TECHNOLOGY
CENTRE FOR DISTANCE LEARNING,
GHAZIABAD-201001

PROFORMA

Name

Mr. Saurabh Rustagi

Address

1st Floor, 208, Sukhdev vihar, New

Delhi - 110025

Enrolment No.

1421000910

Course

PGDM (2year)

Submitted To

Institute

of

Management

Technology, Ghaziabad
Mobile No.
Major

Area

:
of :

9899749973
Marketing

Specialization
Questionnaire

YES

Consent Letter of the :

YES

Attached

Project Guide
Phone No. of the :

9911953617

project Guide
Date Of Submission

10/10/15

CERTIFICATE
This is to certify that Mr. Saurabh Rustagi has planned and conducted the project
entitled Competition Mapping in Real Estate Industry Supertech Limited
under my guidance and supervision and the report submitted therewith was the
result of bona fide work done by him.

Place: New Delhi

Name: Mr. Sankranti Singh

Date: 4/10/15

(Project Guide)

CERTIFICATE
I Saurabh Rustagi certify that the project report entitled Competition Mapping
In Real Estate Industry - Supertech Limited is an original and has not been
submitted earlier to Institute of Management Technology Centre For Distance
Learning, Ghaziabad or to any other institution for fulfillment of the requirement
of a course of management programme (PGDM)

Place: New Delhi

Name: Mr. Saurabh Rustagi

Date:

Enrollment No.: 1421000910

4/10/15

ACKNOWLEDGEMENT

The present work is an effort to throw some light on COMPETITION

MAPPING IN REAL ESTATE INDUSTRY - SUPERTECH LIMITED The
work would not have been possible to come to the present shape without the able
guidance, supervision and help to me by number of people.
With deep sense of gratitude I acknowledged the encouragement and guidance
received by Mr Sankranti Singh. I also convey my heartfelt affection to him who
helped and supported me during the course.
Name: Mr. Saurabh Rustagi
PGDM
ENROLMENT NO: 1421000910

TABLE OF CONTENTS

INTRODUCTION

RESEARCH METHODOLOGY

COMPANY PROFILE

11

INDUSTRY PROFILE

17

MAJOR COMPETITORS AND THEIR STRATEGIES

34

RESULT AND DISCUSSION

41

CONCLUSION AND RECOMMENDATIONS

51

BIBLIOGRAPHY

53

ANNEXURE

54

INTRODUCTION
Real estate plays a critical role in the development of the Indian economy. It is the
second largest employer after agriculture. Over the next decade, the real estate
sector is expected to grow by 30 per cent.
The sector is divided into four sub-sectors: housing, retail, hospitality, and
commercial. The housing sub-sector contributes five-six per cent to the country's
gross domestic product (GDP). Meanwhile, retail, hospitality and commercial real
estate are also growing significantly, catering to India's growing needs of
infrastructure.
The construction industry ranks third among the 14 major sectors in terms of
direct, indirect and induced effects in all sectors of the economy, according to a
study done by ICRA. A unit increase in expenditure in this sector has a multiplier
effect and the capacity to generate income as high as five times. The positive
effects of growth in real estate sector are spread over more than 250 ancillary
industries.
The Indian real estate market size is expected to touch US$ 180 billion by 2020.
Demand for residential, commercial and retail real estate is rising throughout
India, accompanied by increased demand for hotel accommodation and improved
infrastructure.
India is going to produce an estimated 2 million new graduates from various
Indian universities during this year, creating demand for 100 million square feet of
office and industrial space.
Further, presence of a large number of Fortune 500 and other reputed companies
will attract more companies to initiate their operational bases in India thus,
creating more demand for corporate space especially with MAKE IN INDIA now
being active.
Apart from IT, ITES and Business Process Outsourcing (BPO), India has shown
its expertise in sectors like auto-components, chemicals, apparels, pharmaceuticals
and jewellery where it can match the best in the world. These positive attributes of
India is definitely going to attract more foreign investors in the near future.
7

RESEARCH METHODOLOGY
OBJECTIVES OF THE STUDY
The main objectives of the study are:

To find out the competition mapping in the Real estate industry in

Delhi/NCR.

To analyze the effect of advertising and promotion schemes on image in

the consumers mind.

To study the competitive strategies of Supertech, Omaxe and DLF in

Delhi/NCR.

METHODOLOGY
Research Methodology is a scientific and systematic way to solve research
problems. A researcher has to design his methodology i.e. in addition to the
knowledge of methods/techniques; he has to apply the methodology as well. The
methodology may differ from problem to problem.. The main aim of the study is
to find out the role of advertisement in buying behaviour of real estate. While
recommending the said strategy detailed information from secondary sources was
collected and analyzed. To fulfill the objective of the project the main aim is to
collect information about the Indian real estate industry, its size, the trends of the
Indian business environment, customer segmentation, consumer behaviour,
marketing strategies of Supertech Ltd., Omaxe, DLF etc.
RESEARCH APPROACH
Keeping in mind the purpose and nature of this Project Report, an Inductive
Approach will be found more appropriate due to its flexible and exploratory
nature. This is the kind of approach where you collect data and hence develop a
theory as a result of the data analysis. Hence this approach has been appropriately
used to gain in-depth information about Indian Real estate players and their
competitive strategies.
It was felt that apart from fulfilling the objectives, the data collected from the
Indian consumers and real estate majors using this approach would provide
8

additional useful information that would widen the scope of the research and add
to the existing knowledge on strategies of a Real estate firms. This would assist in
arriving at more concrete conclusions, as there are no rigid conclusions to be
arrived at.
RESEARCH DESIGN
Exploratory research is conducted when the researcher does not know how and
why certain phenomenon occurs. It determines fruitful alternatives that the
executive would not have perceived. The purpose of exploratory research is to
define the marketing problem precisely, collect required information/data relating
to the problem and identify alternative courses of action in order to deal with the
marketing problem
In exploratory research, the focus is on the discovery of ideas about buying of
consumers and demographic profile. A study of overall population, the age profile,
the literacy rates, social and economic trends are termed as the demographic
trends. They help the companies understand the diversity of buying pattern in a
particular region. This serves as the starting for understanding consumer profiles.
Secondary research
To arrive at the overall trends of the Industry as specific various sources will be
used. Secondary data will be collected from various books, magazines, company
annual reports, websites, etc.
Primary research
Since the research objective will be directed towards the uncovering of consumer
buying behaviour hence primary research will be used for the purpose.

TOOLS OF PRIMARY RESEARCH

1.Exit survey: an exit survey will be conduct in the major players in
DELHI/NCR. A fair sample of response random samppling will be used and to
any discrepancies between equal sample size of 50 respondents each will be
collected at the point of exit to gather response about the present visit aswell as to
get cues into general buying behaviour. A close ended questionaire with space for
different respones will be administered to the the respondents keeping in mind the
9

positioning at the exit point and low level of involvevment due to lack of interest
and absence of incentive.

SAMPLING FOR PRIMARY RESEARCH

Exit survey: a random sampling model will be adopted for the purpose of the
survey.
With 50 respondents to evolve generalised trends. The respondents will be
randomly selected at various locations including shopping malls, broker firms, and
other offices to get a demographic breakup of the sample and to ensure accurate
responses regarding present visit.
Construction of questionnaire
Questionnaire with closed ended questions will be used as the respondents had to
give a specific answer to the questions. This also will make it easier for the
respondents to give their opinion without too much time.

Sampling procedure
The questionnaire will be distributed among respondents who are from different
age groups and income brackets. The procedure for sampling involved
convenience and judgment.

10

COMPANY PROFILE
OVERVIEW
Supertech Limited, India's leading real estate developer was founded in 1988 in
National Capital Region and since then has been scaling new heights by each
passing day. The company has set new trends of architectural finesse in the
contemporary global scenario achieving excellence. Established under the
dynamic leadership of Mr. R. K. Arora. Supertech has led to creation of various
landmark projects - Crossings Republik, Emerald Court, Avant-Garde, Shopprix
Mall are few examples. The leaders and skilled professionals of the company have
worked towards launching out of the league projects and take the real estate sector
to the next level. Supertech is the pioneer to launch the concept of mixed-use
development in India and to come up with high rise constructions in North India.
In North, Supertech has a major presence in Uttrakhand, Uttar Pradesh and
Haryana and down South; it is constructing a project in Bengaluru. The company
is developing projects in different verticals of real estate like residential,
townships, commercial, retail, office spaces and hospitality. To fulfill the
commitment of delivering the best, the company has tied-up with the world's best
names in the fields of architecture, design and technology.
Supertech has not only expanded in terms of number of projects but in terms of
the kind of engineering techniques, innovative designing and architectural finesse
it has brought in to the Indian real estate industry.
Supertech is the first Indian real estate developer to introduce the precast
technology, which is a step further in construction. With the use of this
technology, a hindrance-free construction can be carried out in any season saving
up to 64% of time as compared to the construction time of a brick house. It has
also introduced the jump from technology which fastens the construction process
of any high rise building. The company is also developing projects like North Eye
and Supernova in Noida, Uttar Pradesh which are North India's tallest residential
and mixed used developments.

11

Vision
To hold its position in the Industry and follow high ethical standards, transparency
in transactions and quality in developments. Supertech is constantly working for
the development and shaping of land as well as contributing in the progress and
growth of nation.

Mission
To empower Indian Urban Infrastructure and Real Estate by inculcating
knowledge and innovation that will be the catalyst of growth for the nation.
Impacting hitherto unknown areas to drive growth by winning the customers
buying decisions through logical reasoning and industry facts

Management Team
Mr. R.K Arora, Chairman
A small-time broker to now a big developer having 75 million sq ft under
construction, R K Arora has come a long way since 1988 when Supertech was
incorporated.
Supertech is always prepared to meet the challenges posed by time and changing
aspirations under his supervision. Aptly backed by the strong networks of
suppliers, craftsmen and designers, their buildings and complexes are landmarks
in their respective locations. Supertechs R&D includes working increasingly in
various topologies on the one hand, and the dynamics of the technologies on the
other. This is what helped them continuously orient and reorient synergies of
design and materials to dedicated uses.
Mr. Mohit Arora, Managing Director
A Civil Engineer from highly coveted IOWA State University, United States, Mr.
Arora has acquired techno-commercial skills of management, business
development and international relations with global corporate.
12

PROJECTS
ON-GOING PROJECTS
Residential
Noida-Greater Noida Expressway: Eco-Citi
Noida: Cape Town, North Eye, ORB
Greater Noida: Czar Suites
Greater Noida (West): Albaria, Eco Village I, II, III & IV, Oxford Square
Meerut: Palm Greens
Moradabad: Palm Greens
Gurgaon: Araville, 48 Canvas & Hues
Rudrapur: River Crest
Bengaluru: Micasa

Township
Crossings Republik, Ghaziabad: Livingston
Meerut: Sports City
Yamuna Expressway, Greater Noida: Upcountry, Golf Country
Commercial & Retail
Rudrapur: Metropolis Mall
Noida: E Square
Dehradun: Doon Square

Mixed Use Development

Noida: Supernova
Education
Uttarakhand: Supertech University

COMPLETED PROJECTS
Residential
Ghaziabad: Supertech Estate Supertech Residency, Avant Garde, Rameshwar
Orchids, Icon
Noida: 34 Pavilion, Emerald Court
Meerut: Green Village
13

Township
Rudrapur: Metropolis City
Commercial & Retail
Noida: Shopprix Mall
Vaishali, Ghaziabad: Shopprix Mall
Kaushambi, Ghaziabad: Shopprix Mall
Haridwar: The Pentagon Mall
Meerut: Shopprix Mall
Hotel
Rudrapur: Radisson Blu
Haridwar: Hyphen, Radisson Blu
Meerut: Hyphen
Noida: Hyphen
Meerut: Country Inn

With such a vast portfolio under their belt, they have achieved what others havent
in a short period of times with expertise and advancements.

14

CSR INTIATIVES

Supertech Ltd., a socially aware company, is significantly contributing towards

growth of the society. The company knows its social responsibility to give back a
certain share to the socio-economic growth. As part of CSR, various initiatives
have been taken.
Supertech provides support like running of community centers, adoption and
maintenance of parks and walkways where families spend time together further
enriching their lives.
The company believes, Social responsibility is about giving something back, and
does this with its every project. It believes in giving its clients a place to live,
work and flourish. It builds developments that enhance their surroundings to
enrich people's lives.
The company has also started 'Kaksha' - a CSR activity at its ongoing projects to
educate the poor children in the area and the labourers working at the project sites.
The programme is an initiative of "Supertech Foundation" a Trust established by
Mr. R. K. Arora and his family members.

15

Milestones
Though the infrastructures developed by Supertech speak of their proficiency, but
still theres more to them.

More than 20,000 units delivered across 33 million sq. ft

Projects across more than 50 locations

More than 60,000 satisfied customers

Over 25 years of delivering world class projects in Residential, Retail,

Hospitality IT Parks, Education and Corporate Spaces

Projects worth INR 500 billion in progress

More than 80,000 units and 120 million sq. ft. of Real Estate under
development

Offer of Possession given to more than 10,000 units during the financial
year 2014-15

Delivery target of 16,000 units for the financial year 2015-16

16

INDUSTRY OVERVIEW
REAL ESTATE INDUSTRY
As the economy shows signs of decreasing GDP growth rate, the Indian real estate
industry faces its own share of concerns. Real estate developers are reeling under
high debt and FDI inflows had also slowed down. The recent increase in home
loan interest rates is expected to dampen the sales even further. Amidst these
macroeconomic conditions, Indian real estate asset classes across the prime cities
of India have seen mixed sentiments.
Residential sales remained slow in most of these cities in 2015. Residential project
launches also showed a marked slowdown by 3Q14.The demand for office and
retail space leasing remained healthy in most of the cities. What does the future
hold for the real estate sector in 2016?

Commercial Real Estate

In 2016, several IT companies are looking to pre-lease office space to take
advantage of the favourable commercial terms currently being proposed by
commercial office space developers. Demand is expected to remain stable.
However, the office space supply is expected to outweigh demand in most prime
cities of India. Corporate expansions are likely to decrease due to the uncertainties
in the global economic situation, which will have an impact on business budgets
for next year.
Demand will derive from consolidation in and relocation to Special Economic
Zones by large IT occupiers, who will seek to reduce costs and avail of the related
tax incentives. Commercial office space rents and capital values are expected to
increase across all cities, albeit marginally.
Commercial office space investor sentiments will remain cautious in the year
ahead. The suburban submarkets will continue to be preferred by tenants,
especially in the case of the IT sector, due to the cost advantage and availability of
substantial supply.

17

Retail Real Estate

In 2016, enquiries for quality retail space are likely to remain robust as major
Indian retailers are seeking to implement their expansion plans in the prime cities
as well as select Tier II and Tier III cities. FDI in multi brand real estate, when
finally permitted, is expected to catalyse a lot of demand from international
retailers. That said, international luxury brands will restrict their growth plans to
Mumbai, Delhi and Bangalore.
Transactions will be oriented towards the revenue sharing model rather than
straightforward leasing deals. Demand polarization towards selected malls will
continue, and this will keep overall vacancy levels high - several poorly-designed
and unfavorably located malls will become operational at low occupancy levels in
2016.

Residential Real Estate

Because of the prevailing uncertainties on the global market, sentiments on the
residential market will remain cautious over the short term. The absorption rate meaning the ratio of sales over inventory in the market - is likely to be low, and
the incidence of new launches will decline. Rise in capital values will be marginal
because of low sales.
Overall macro-economic conditions will keep investor sentiments at cautious
levels, both in terms of FDI and FII. FDI inflows, which are currently muted
because of the slowdown in the country's GDP growth rate, will probably remain
sluggish over the short term. However, as the Indian economy continues to show
its resilience in 2016, with MAKE IN INDIA foreign investors will gain
confidence and India will become attractive among competing investment
destinations.
Meanwhile, residential developers will continue to tackle the current liquidity
crunch due to high interest rates and slow sales. We will see a slowdown in
construction activity for the time being. However, as demand improves, improving
sales will benefit developers who will focus on execution of their on-going project
portfolios.

18

Market structure
Real estate in India follows an oligopoly type market structure with the following
characteristics-Real estate sector is quite fragmented with most players having
presence limited to select cities or regional geographies & relatively few players
having national presence. Larger regional developers increasing their footprints
across the country include Supertech, DLF, Raheja group, Parsavnath developers,
Omaxe.

Homogeneous but differentiated products

The real estate companies main offering is buildings to the customers. The
basic product is same for all the major players in India. The
differentiating factor is the package offered by these players like the
location, add on facilities, premium apartments etc. So we can say the
offering given by the players is homogenous but differentiated.
DLFs ship-shaped Gateway Towers in Gurgaon, a 12-storey complex,
has become a landmark of sorts for its unique architectural design. DLF
Nestle House has been designed aesthetically together with functional
efficiency. Product differentiation is very important as a developer has to
cater to all classes of the society. These projects are very different from
other projects in all aspects - architecture, quality and developmental

mix - and are targeted towards the niche segment.

High entry barriers
According to the JLLM report, there is low availability of land banks due
to which about use bank loans for purchasing land parcels, capital raised
through private placements, foreign investments & funds are being used
largely for land purchases. Also initial capital outlay for new entrants is

very high and not many firms can afford it.

Long gestation periods
The market adjustment process is subject to time delays due to the
length of time it takes to finance, design & construct new buildings and
also due to the relatively slow rate of change of demand. Because of these
lags there is a great potential for disequilibrium in the short run.
Adjustments mechanisms tend to be slow, relative to more fluid markets.

Both investment and consumption good

Real estate can be purchased with the expectation of attaining a return (an
investment good), or with the intention of using it (consumption good) or
19

both. These functions can be separated (with participants concentrating on

one or the other function) or can be combined (in the case of the person
who lives in a house that they own). This dual nature of the good means
that it is uncommon for people to over invest in real estate, that is, to

invest more money in an asset than it is worth on the open market.

Few dominant firms
Oligopolists are often large firms, each producing a significant portion of
total market output like DLF has 24.38% of the total real estate market,
and other players like Omaxe & Ansals also hold a major share in the
market. Also very few firms have a national presence in India like Ansals,
Omaxe, Parsvnath developers and Supertech.

Porters five forces model

Porters competitive framework represents the relationship between profitability
and efficiency faced by the firms while operating in an oligopolistic kind of
market. It includes three forces from horizontal competition: threat of substitute
products, threat of established rivals and the threat of new entrants and two forces
from vertical competition: the bargaining power of suppliers, the bargaining
power of consumers.

Porters Competitive Framework

20

Threat of new entrants: Profitable markets that yield high returns will
draw firms. This results in many new entrants, which will effectively
decrease profitability. But in real estate sector entry barriers are high
because the working capital requirements are high. Moreover, the
existing firms have the advantage over others due to learning curve
advantages. This can be seen in the case of DLF which started in 1946
and developed DLF city in 1985 and in 2008 they opened up the first
luxury mall. The gestation period is very long so investors will not be

induced to invest.
Threat of established rivals: 25% of the market share is held by the
DLF in the real estate sector. This shows that the competition is high in
this sector with DLF, Omaxe, and Supertech being the major players. This
may prove to be a threat to upcoming players, as the established players
are deep rooted in the industry. Though this threat shall not be faced by

DLF as it holds the major market share.

The bargaining power of suppliers: It is low. Due to the increase in the
number of contractors or service providers, margins have been stagnant
despite strong growth in volumes. The number of suppliers is large so if
one will increase the cost than there will be a shift from one contractor to

another.
The bargaining power of buyers: It is low. The country still lacks
adequate infrastructure facilities and citizens have to pay for using public
utilities. It is very difficult to predict the direction and magnitude of
price movement on real estate. One can only assume that forces of
demand and supply would always apply and price movement would follow

accordingly.
Threat of substitute product: There are no substitutes to the basic
product so there is not any threat of substitute products.

Real Estate Industry in Gurgaon

In this city that barely existed two decades ago, there are 26 shopping malls, seven
golf courses and luxury shops selling Chanel and Louis Vuitton. Mercedes-Benzes
and BMWs shimmer in automobile showrooms. Apartment towers are sprouting

21

like concrete weeds, and a futuristic commercial hub called Cyber City houses
many of the world's most respected corporations.
Gurgaon, located about 15 miles south of the national capital, New Delhi, would
seem to have everything, except consider what it does not have: a functioning
citywide sewer or drainage system; reliable electricity or water; and public
sidewalks, adequate parking, decent roads or any citywide system of public
transportation. Garbage is still regularly tossed in empty lots by the side of the
road.
With its shiny buildings and galloping economy, Gurgaon is often portrayed as a
symbol of a rising "new" India, yet it also represents a riddle at the heart of India's
rapid growth: how can a new city become an international economic engine
without basic public services? How can a huge country flirt with double-digit
growth

despite

widespread

corruption,

inefficiency

and

governmental

dysfunction?
In Gurgaon and elsewhere in India, the answer is that growth usually occurs
despite the government rather than because of it. India and China are often
considered to be the world's rising economic powers, yet if China's growth has
been led by the state, India's growth is often impeded by the state. China's
authoritarian leaders have built world-class infrastructure; India's infrastructure
and bureaucracy are both considered woefully outdated.
Yet over the past decade, India has emerged as one of the world's most important
new engines of growth, despite itself. Even now, with its economy feeling the
pressure from global inflation and higher interest rates, some economists predict
that India will become the world's third largest economy within 15 years and
could much sooner supplant China as the fastest-growing major economy.
Moreover, India's unorthodox path illustrates, on a grand scale, the struggles of
many smaller developing countries to deliver growth despite weak, ineffective
governments. Many have tried to emulate China's top-down economic model, but
most are stuck with the Indian reality. In India, Gurgaon epitomizes that reality,
managing to be both a complete mess and an economic powerhouse, a microcosm
of Indian dynamism and dysfunction.

22

In Gurgaon, economic growth is often the product of a private sector improvising

to overcome the inadequacies of the government.
To compensate for electricity blackouts, Gurgaon's companies and real estate
developers operate massive diesel generators capable of powering small towns.
No water? Drill private bore wells. No public transportation? Companies employ
hundreds of private buses and taxis. Worried about crime? Gurgaon has almost
four times as many private security guards as police officers.
"You could call it the United States of Gurgaon," said Sanjay Kaul, an activist
critical of the city's lack of planning who argues that Gurgaon is a patchwork of
private islands more than an interconnected city. "You are on your own."
Gurgaon is an extreme example, but it is not an exception. In Bangalore,
outsourcing companies like Infosys and Wipro transport workers with fleets of
buses and use their own power generators to compensate for the weak local
infrastructure. Many apartment buildings in Mumbai, the nation's financial hub,
rely on private water tankers. And more than half of urban Indian families pay to
send their children to private schools rather than the free government schools,
where teachers often do not show up for work.
With 1.2 billion people, India is the largest democracy in the world, a laboratory
among developing countries for testing how well democracy is able to
accommodate and improve the lives of a huge population. India is richer than ever
before, with rising global influence. Yet its development is divisive at home. It is
experiencing a Gilded Age of nouveau billionaires while it is cleaved by
inequality and plagued in some states by poverty and malnutrition levels rivaling
sub-Saharan Africa.
The volatile contradictions of rapid economic growth ricochet daily through
Indian life. Middle-class rage over mounting corruption is visceral. Frustration
with the government is widespread. Leftists and other critics blame India's
landmark 1991 market reforms for failing to lift the rural poor out of poverty;
business leaders warn that India risks slower growth or even stagnation unless
those economic changes deepen and governing improves.
Today, Gurgaon is one of India's fastest-growing districts, having expanded more
than 70 percent during the past decade to more than 1.5 million people, larger than
23

most American cities. It accounts for almost half of all revenues for its state,
Haryana, and added 50,000 vehicles to the roads last year alone. Real estate values
have risen sharply in a city that has become a roaring engine of growth, if also a
colossal headache as a place to live and work.
"If Gurgaon had not happened, the rest of India's development would not have
happened, either," contended Mr. Singh, the chairman of DLF. "Gurgaon became a
pacesetter."

Real Estate Industry in Noida

Noida and Greater Noida are located in the state of Uttar Pradesh and are part of
the National Capital Region. They emerged as key IT hubs of Delhi NCR region
after Gurgaon in the last decade. Noida and Greater Noida were planned to offload
some congestion pressure on Delhi. Noida, traditionally an industrial hub and a
planned layout turned into an IT hub in mid-2000s. As an industrial hub Noida
already experienced residential and retail developments within its planned layout.
However, the surge of IT industry in this submarket changed the skyline of Noida
as it experienced large scale infrastructure developments along with overall real
estate developments. Noida and Greater Noida witnessed improved connectivity
with Delhi with the extension of road network and metro railway. Noida and
Greater Noida experienced the largest number of residential units launches in the
country in last three years. Hosting of the Indian Grand Prix and opening of the
Yamuna Expressway gave a fillip to the real estate development of these
submarkets.
Noida had an established and well-planned residential development even before
the IT related developments occurred in this submarket. Later, with the
development of IT, developers started launching large number of projects in
Noida. The improved connectivity with development of Noida Greater Noida
Expressway extended the development towards Greater Noida as large tracts of
land were opened up for development on the either side of the expressway. Major
developers present in Noida and Greater Noida are Jaypee Group, Unitech Group,
Parsavnath and Supertech etc. Noida and Greater Noida witnessed maximum
24

number of residential project launches in India y-o-y since last three years. In
2012, the master plan
2031 of the Greater Noida Industrial Development Authority (GNIDA)
received approval from the National Capital Region Planning Board (NCRPB),
allowing developers and builders to resume construction activity on real estate
projects in Greater Noida. Construction in this submarket was stalled for more
than a year as farmers whose lands were acquired for construction were
demanding compensation. After this approval by NCRPB the construction activity
was resumed and Greater Noida witnessed increased project launches and sales.
Good connectivity and availability of campus style office spaces at relatively
lower rents than Gurgaon are expected to drive the demand in this submarket.

Models of buying decision

In an early study of the buyer decision process literature, Frank Nicosia identified
three types of buyer decision making models. They are the uni-variate model in
which only one behavioural determinant was allowed in a stimulus-response type
of relationship; the multi-variate model (He called it a "reduced form scheme".) in
which numerous independent variables were assumed to determine buyer
behaviour; and finally the "system of equations" model in which numerous
functional relations (either uni-variate or multi-variate) interact in a complex
system of equations. He concluded that only this third type of model is capable of
expressing the complexity of buyer decision processes. Nicosia builds a
comprehensive model involving five modules. The encoding module includes
determinants like "attributes of the brand", "environmental factors", "consumer's
attributes", "attributes of the organization", and "attributes of the message". Other
modules in the system include consumer decoding, search and evaluation,
decision, and consumption.

25

Key Drivers: Residential

Demographic: It includes increase in percentage of population in the 2544 years age group, nuclear families, rise in urban middle class population;
double income households on rise and increase affordability.

Psychographic: Greater acceptability of debt, increasing aspiration to own

larger houses, and preference for owned houses.

Market related: Declining portion of cash component in sale transaction

and simpler lending norms.

Government: Priority sector status for housing loans, Tax benefits,

rationalization of duties and taxes, computerization of title registration in
select states, and promotion of township and Special Economic Zones
(SEZ) as public policy.

Banks / Housing Finance Companies: Innovative new products,

marketing strategies, competitive pricing, and wide distribution network.

Developer: Varied product types, quality, time to market and most

important is commitment.

EXTERNAL ENVIRONMENT
Housing which ranks next only to food and clothing amongst basic human needs
has always had and continues to have important socio-economic implications.
Especially in countries like India which are in the throes of rapid development
housing has come to assume a crucial role as it contributes significantly to the
national economy and nation building. Arguably, housing has been the only
industry in recent times which has not only withstood the recessionary pressures,
but has also shown a consistent and healthy growth and if the future is to be
interpreted in light of the macro picture, the best is yet to come.
Housing and GDP are interlinked and contribute to each others growth. It is,
therefore, no wonder that Housing for All is invariably proclaimed as a national
26

priority by all major political parties and adopted as a goal by the Government of
India in the National Housing and Habitat Policy document. Integrated housing
development not only satisfies the basic human needs but also facilitates holistic
development within the parameters of a planned welfare economy. Safe, secure
and affordable housing by any means increases employment and educational
opportunities for individuals and enriches communities leading to a better civil
society and better quality of life. Besides the direct contribution which housing
makes to GDP it increases social capital which is intelligible wealth that comes
with good social network at the heart of which lies clean environment, hygienic
living and quality housing.
India, with its billion plus population, still witnesses an acute shortage of dwelling
units. Despite sharp increase in the Usable Housing Stock from 70 million units in
1961 to170 million units in 2001, the shortfall in 2001 was estimated at 19 million
dwelling units, although unofficial estimates peg the figure at higher levels. This
has occurred due to the high population growth, especially in urban areas. Studies
reveal that the population in the five most populous cities of India, namely
Mumbai, Kolkata, New Delhi, Chennai & Hyderabad is set to increase at a
scorching pace of more than 50% between 1995 and 2010 and by 2025 the
number will be more than double. The 2001 Census reveals that the decadal
population growth in the urban areas is one and a half times higher than the
national average. All these statistics point to a high level of migration of
population from rural and semi urban areas to a more urbanized form of
settlement. The percentage of population staying in urban areas has steadily
climbed from 23.34% in 1981 to almost 28% in 2001. As on 2001, more than
5000 centres have been identified as urban centres in India.
Coupled with the demand for dwelling units, another major factor which has
contributed to the buoyancy of Housing activity is the affordability of properties.
This, in turn, has been the result of a combined effect of stabilized property prices,
higher level of incomes and lower cost of borrowings. In fact the boom witnessed
by the Housing Finance sector can be heavily attributed to these factors.
Housing has often been called the Engine of Domestic Growth of the Economy.
An investment in Housing and construction triggers of a series of investments in
various sectors. From Heavy Industries like Steel, Cement to industries like Paint,
27

Furniture and even to Small Scale Industries, Housing affects as many as 269
industries directly and indirectly. Housing ranks third amongst 14 major industries
in terms of total linkage effect in the Economy. The linkage effect, particularly
with reference to the Steel and Cement Industries was also underlined by the
Government in the Economic Survey of 2002-2003.
In terms of contribution to the GDP, for every rupee invested in Housing and
construction, 78 paisa gets added to the GDP. Housing ranks fourth in terms of the
multiplier effect on the Economy, ahead of sectors like transport and agriculture.
The Investments in the Housing sector has steadily increased from Rs.1150cr in
the First Plan period to more than Rs.1,20,000cr in the Ninth Plan period.
Estimates of the Tenth Plan peg the figure at about Rs.7,00,000cr.
Perhaps the greatest socio-economic impact of Housing is in employment
generation. Housing is the second largest employment generator in the country
after Agriculture. A host of vocations and professions derive their livelihoods from
Housing, either directly or indirectly. Construction workers, builders, developers,
suppliers, civil engineers, valuers, property consultants, furnishers, interior
decorators, plumbers the list is virtually unending. In a developing nation like
ours, Housing can be the solution to the most nagging problem that any
Government faces that of employment. Apart from these various indirect
benefits that the economy derives from Housing, the Government itself is a direct
beneficiary in terms of collection of stamp duty rising out of acquisition of real
estate assets.
It is therefore not surprising that the Government has left no stones unturned to
support Housing activities. The continued tax incentives on Housing Loans to
trigger a higher off-take in credit for retail Housing is a reaffirmation of the
Governments commitment to aid the sector. Other initiatives like extension of
benefits u/s 80 I to mass housing projects, scrapping of the Urban Land ceiling
act, implementation of the Securitization Act are all in line with the same
objective of propelling growth through Housing. However, it may also be added
here that there is scope of further improvement in various areas, mainly with
reference to streamlining of laws related to construction activities and
rationalizing of stamp duties on transfer, securitization, etc. When one looks at the
future, the big picture appears to be very bright. A comparison of the Mortgage
28

Finance to GDP ratio places India at the foot of the table with a penetration rate of
less than 2% , lower than the 9% of Thailand, 36% of Singapore and 51% of USA.
There is thus much room for the upside and a long way to go. With the population
of India steadily increasing, it will not be long before India overtakes China and
emerges at the top position. Demographic experts have predicted Indias working
age population the segment which has the highest demand for Housing to be
the highest. This ensures that the demand for Housing is a long and sustained one.
Rapid strides in Infrastructure development like the Golden Quadrilateral Project
and the National Highways Development Programme, which have progressed at
an impressive speed is bound to trigger off a fresh round of Housing and
habitation through further development of semi urban and rural areas as well as
setting up of new Satellite Townships.
To sum up, a reference to the Goldman Sachs Report on the Development of the
BRIC Economies can be made, wherein India is projected to have the fourth
largest Economy in less than 30 years time from now. In order to achieve that
level of growth, it is imperative for the Housing Industry to continue its
contribution to the economy at an increased pace in the future as well.

29

Analysis of the Industry in Key Regions

Mumbai
Mumbai is a mature and well-developed Real Estate market. It is a demandmotivated market; where the property is bought for current use and not with the
aim to speculate and sell it in future. This has led to the burgeoning of the
Mumbai Real Estate market. The spurt in demand as well as supply of Real
Estate products and the consequent increase in capital values are encouraging
High Net worth Investors (HNI) and other investors to make active investments in
the Mumbai Real Estate market.

Chennai
Chennai real estate is a budding market. Chennai being the fourth largest
metropolitan city has regional offices of all major corporate houses and is among
the trade capitals of India. It thus offers tremendous real estate influx and is a hub
of some of the top real estate builders and developers of India. Chennai Real
Estate Builders follow a trend of the best quality at the most affordable prices.

30

Delhi
Absorption across NCR was approximately 6.6 million sq ft during 2011 and
recommitments amounted to an additional demand of 4 million sq ft. Gurgaon
Accounted for 4.64 million sq ft or 70 per cent of total absorption in the NCR.
Noida, the next biggest market, accounted for 1.37 million sq. ft or 21 per cent of
total absorption. Delhi witnessed absorption of 0.66 million sq ft of this
approximately 3.28 lakh came from new developments in Jasola, while the
remaining 2.95 lakh sq ft came from older, second-generation developments in the
CBD and South CBD.

The total supply in the NCR amounted to 11.53 million sq ft. Gurgaon accounted
for the largest share of approximately 6.4 million sq ft. Noida and Delhi accounted
for 4 million sq ft and 1.7 million sq ft respectively.
Availability of land, improving infrastructure, and better connectivity are some of
the factors why most of the supply came in the suburban areas. Prime locations
and buildings in most micro markets have low or negligible vacancy. Demand for
grade-A Properties Continues to rise in NCR, as is evident from the pre-lease
commitments signed.

31

Kolkata
Kolkata is one of the oldest urban agglomerations in the country. Kolkata lost its
position as the erstwhile commercial capital of India to Mumbai due to the
socialist manifesto adopted by the West Bengal government post independence.
Now JLLM believes the state is witnessing a resurgence driven by government
policy and support for the service industry and infrastructure development that is
once again attracting industry and capital to the city.
Bangalore
Real estate values around Bangalore have shot off the charts since 1991. Land on
the outskirts of Bangalore that was selling for US $0.10 per square foot rose to
$2.00 per sq. ft. Prices started to drop in 1995 and are now beginning to show
gains again. Real estate investors and real estate developers in Bangalore have
been on a wild ride.
Hyderabad
Of late, Hyderabad has witnessed a remarkable growth in real estate business,
thanks to a predominantly information technology driven boom in the 1990s and
the retail industry growth over the last few years spurring hectic commercial
activity. However, the real estate prices have spiraled only in some hot spots of the
city and continue to be flat mainly due to the slow down witnessed during the last
few quarters.

32

FDI in Real Estate

In 2012, the Government of India permitted 100 per cent foreign direct
investment (FDI) in housing through integrated township development. The
merits of FDI are well known - it provides the much needed investment in the
sector brings professional players equipped with real estate expertise and
facilitates the introduction of new technology. However, the FDI rules in its
current form are rather stringent - prior approval of the Foreign Investment
Promotion Board is required which admittedly can be rather tedious and there is a
lock-in for repatriation of original capital invested for a period of three years.
What is rather self-defeating is the stipulation of a minimum land holding of 100
acres. Getting 100 acres of free land in an urban area is almost impossible and
consequently barely a handful of projects have been approved. If the minimum
area restriction is reduced at least by half and repatriation of profits after the
construction period is completed is allowed, FDI in this sector will certainly pick
up. In this aspect, I think we have a lot to learn from our Chinese compatriots.
Recently, the Securities and Exchange Board of India, India's capital market
regulator has permitted venture capital funds to invest in real estate - this augurs
well for the industry.

33

MAJOR COMPETITORS AND THEIR STRATEGIES

OMAXE
Omaxe is one of Indias leading real estate companies. Having spread its
footprints in 8 States across 27 cities, the company has in its kitty a diversified
portfolio that includes Integrated Townships, Hi-Tech Townships, Group Housing,
Shopping Malls, Office Spaces, SCOs and Hotel. With approx. 96.4 million sq. ft.
of delivered space in both real estate and construction contracting, the company is
currently undertaking 39 real estate projects 13 Group Housing, 16 Townships,
10 Commercial Malls/office spaces/Hotels/ SCOs.
The genesis of the brand goes back to 1987 when first generation entrepreneur and
civil engineer Mr. Rohtas Goel founded Omaxe to undertake construction &
contracting business. In 2001, the Company made inroads into the evolving real
estate sector. Omaxe got listed on BSE and NSE in 2007 and presently has a
market cap of approx. Rs 2500 crore. With some renowned and highly appreciated
projects, awards and accolades and more importantly, the trust of the people,
Omaxe fast spread its footprints in States like Uttar Pradesh, Madhya Pradesh,
Punjab, Haryana, Uttarakhand, Rajasthan, Delhi and Himachal Pradesh.
Omaxes repertoire consists of varied options in both residential and commercial
segments like plots, villas, floors, group housing, studio apartment etc. in the
former and shopping malls, office spaces, SCOs, hotel and entertainment etc. in
latter. In the last two decades, Omaxe has carved a niche in the evolving real
estate market with both luxury and affordable offerings. Some of the delivered
projects like NRI City, Greater Noida; Omaxe Twin Towers, Noida; Grand
Omaxe, Noida; The Forest, Noida; Omaxe Heights, Lucknow; Omaxe Residency,
Lucknow; Omaxe Heights, Omaxe New Heights and Omaxe Hills in Faridabad
etc have reinforced the companys dominance and earned it a lot of goodwill and
trust. To drive the next phase of growth, Omaxe is executing quality affordable
homes and world-class themed shopping malls and offices in cities like Lucknow,

34

New Chandigarh, Faridabad, Ludhiana, Vrindavan, Bahadurgarh, Indore, Greater

Noida to name a few.
The company has successfully blended business excellence with social
commitment. The company through Omaxe Foundation takes up many CSR
projects in the field of health, education, community development etc.
True to its motto, Turning Dreams into Reality, Omaxe stands tall on the
foundation of its values values of delivering quality and excellent real estate
spaces, ensuring customer satisfaction, and redefining lifestyle.
Mission
To provide customer satisfaction and create value for stakeholders through
professionalism, transparency, quality, cutting-edge technology and social
responsibility.
Vision
To be a trusted leader in the real estate sector contributing towards a progressive
India.

35

DLF
DLF is the largest real estate company in India. The group has over 224 million
sq. ft. of existing development and 751 million sq. ft. of planned projects. DLF is
committed to quality, trust and customer sensitivity, and deliver on promises with
agility, financial prudence and in tune with the highest global standards. The
company has also entered into several strategic alliances with global industry
leaders.
DLF is India's largest real estate company in terms of revenues, earnings, market
capitalisation and developable area. In line with its current expansion plans, DLF
has over 751 million sq. ft. of development across its businesses, including
developed, on-going and planned projects. This land bank is spread over 32 cities,
mostly in metros and key urban areas across India. Already a major player in
locations across the country, DLF, with over six decades of experience, is
capitalising on emerging market opportunities to deliver high-end facilities and
projects to its wide base of customers by constantly upgrading its internal skills
and resource capabilities.
A roster of world-reputed businesses chooses DLF to jointly venture with, to seek
growth in India. Among them, Laing O'Rourke- famous UK based construction
company credited with construction of Dubai International Airport, London's
Millenium Tower, etc, will construct all DLF's landmark projects. Together DLFLaing O' Rourke shall build the expressways, ports and other megastructures of
India's new economy. Nakheel of Dubai are partnering with DLF for townships of
pathbreaking concepts in India. WSP Group Plc is also partnering DLF, providing
Management and consultancy to the built and natural environment. DLF has also
tied up with Hilton Hotels to jointly develop world class hotels in India. It is more
than market dynamics however. DLF management constantly upgrades
professional resources to construct responsive strategies, to adapt to local
preferences; to deliver high quality, in all its projects and services to a wide
customer base.
All the intensified growth underlines DLF's commitment to quality, trust and
customer sensitivity and, delivering on its promise with agility and financial
prudence. This, in turn, has earned DLF the coveted 'Superbrand' ranking for three
years consecutively, including the current year.
36

The Homes business unit involves a wide range of products including

condominiums, duplexes, row hoses and apartments of varying sizes, with a focus
on the higher end of the market. DLF has 214 msf of developed area under homes
and residential plots. Currently, DLF has more than 477 msf of land resource
targeted towards residential business.
DLF's office segment is one of the group's most admired verticals. Nearly 40 msf
of ongoing projects forms a strong portfolio for DLF offices, having reached a
mature delivery platform of 11-12 msf on an annual basis. Current land resource
owned by DLF for development of offices across the country is 164 msf
approximately.
With a booming retail environment on the horizon, this is a major thrust area for
the Group and DLF is actively creating new shopping and entertainment spaces all
over the country. The company has 12 mn sq. ft of retail projects under
construction and owns land resource of another 92 msf for development in metros
and other key urban destinations across the country. These include categories of
prime downtown shopping districts, shopping centres and super luxury malls,
amongst others.
With the growth of the Indian economy and the resulting increase in corporate and
consumer incomes, as well as foreign investment, DLF sees significant
opportunities for growth in its three primary businesses. DLF's mission is to build
a world-class real estate development company with the highest standards of
professionalism, ethics and customer service and to thereby contribute to and
benefit from the growth of the Indian economy.
To contribute significantly to building the new India and become the worlds most
valuable real estate company.
DLF Mission
To build world-class real-estate concepts across six business lines with the highest
standards of professionalism, ethics, quality and customer service.

37

DLF Values

Sustained efforts to enhance customer value and quality

Ethical and professional service

Compliance and respect for all community, environmental and legal

requirements.

Key Drivers for the Growth of DLF:

Commercial:

Industry Growth: Real estate sector is growing at a rate of 35%.Credit to

the housing sector has continued to be strong and benefited from low
interest rates and incentives. In real estate sector in India, there are high
returns up to 12-15% as compared to returns in advanced countries i.e. 35%.Estimated growth up to 90 US$ by 2020.
38

Special Economic Zones: SEZs likely to be preferred for IT commercial

office space development.

Growth in retail sector, hotels and townships: Spiraling demands for
hotel rooms has brought boom in hotel industry, and the demand-supply
mismatch remain over 50%, generating substantial business for DLF.
Integrated townships, Spurt in extremely large retail spaces results in high
growth opportunities.

Retail:
Growth in organized retail
Rising consumerism
Entry of international retailers
Concept of specialized malls gaining popularity
Tourism:
Increase in International tourist arrivals
Growth in domestic tourism
Low cost airlines and improvement of airports
Medical tourism
Tremendous potential for budget hotels
Growing Knowledge and technology driven sector:
Demand for higher level education, professional trainings, better
infrastructural facilities have given a boost to DLFs business. The robust
growth in IT sector has pumped up the growth in real estate sector, approx
60% of new construction is for IT sector resulting in major projects for
DLF.
.

Residential:

Urbanization: According to the United Nations Population Fund

(UNFPA) By 2030 more than 40.7% of Indian population would be
urbanized. Presently, more than 28.7 per cent of Indias area is urban as
against the global average of 48.7 per cent. Indias Mega-Cities of
Mumbai and Delhi would be the worlds 2nd and 3rd largest cities by
2020, which is a big time demand driver for DLF.

Growth in per capita income: Indias per capita income is expected to be

US$ 693 this year and is further expected to grow by 8-13 per cent in the
next five years, particularly due to growth in the services sector, which
thereby results in increase in demand for the residential sector.
39

Rising first time buyers and increasing household: With an increase in

per capita income, the number of first time buyers also increases resulting
in up thrust in the demand.

CSR
For DLF, Corporate Social Responsibility is not just an add on; rather our business
and social commitment are mutually reinforcing and neither will be sustainable
without the other. We have a continuing social responsibility towards the people of
the area in which we operate more so towards the less fortunate. It has been our
constant endeavor to create sustainable economies and transform stagnant lives
into active partnerships through synergized proactive handholding in areas of
infrastructure, education, training, health and environment. We have made a
public commitment to carry on these trusted relationships.

40

RESULTS AND DISCUSSION

For buying a house from where will you or from where do you get
information?
Property Dealer

10

Government Agencies

Builders

Advertisements

20

Internet

Others

Most of the respondents (20) agreed that advertisement is one of the best media to
passing information. The advertisement covers most aspects of the marketing and
catches and holds the consumer's attention and spears him to purchase a property.

41

What according to you are the features that influence you to select a
particular property (1-Most important Factor; 5-Least Important Factor)
Factors

Price

32

11

Location

43

Advertising

10

11

20

Resale value

32

Good promotional offers

13

20

Additional Facilities

20

12

This chart clearly shows that more than PRICE or RESALE VALUE of the
property, the LOCATION is the primary factor to the buyer.

42

Which companys advertisements do you like?

Very
interested

Somewhat
interested

Neutral

Not very
interested

Not at all
interested

DLF

22

15

SUPERTECH

17

12

13

OMAXE

13

11

19

As per the survey 44% of the respondents said DLFs advertisement are very
interesting. DLF Indian Premier League created quite the awareness in people.
Real estate major DLF, which is making fresh efforts to launch its public offer,
plans to leverage the power of cricket to enhance its brand image across the
country and has earmarked Rs 100 crore investments in next two years on
sponsorship, cultural events and advertisements.

Promotions result in increase in sales of a property?

43

Strongly

Neutral

Strongly
Agree

Disagree
SCALE
RESPONSE

11

23

Most of the respondents (23) strongly agree that promotions influence sales. Sales
promotion has a central role to play in developing brand image, whether at the
corporate, retail or product level. It informs consumers of the functional
capabilities of the brand while simultaneously imbuing the brand with symbolic
values and meanings relevant to the consumer. .

44

What kind of competitive strategies should companies give?

Ads that talk of features and benefits of product

12

Ads that talk of additional schemes/offers with the product

Ads which emphasise both offers and features

31

45

Which media do you think Supertech should use for giving ads?
Likely

Unlikely

MEDIA

Newspapers

17

14

TV

24

20

Magazines

15

15

Combination of these

20

22

Television is an effective media according to the respondents. Television,

advertisements are structural in time, whereas print advertisements are arranged in
space. Television advertising has a sequence- the beginning, middle and the end.
They use sound and motion.
46

Do advertisements have an effect on you?

YES

38

NO

12

76% of the respondents answers suggest that advertisements do have an impact

on them and their image of the brand and the companys image and its products.

47

Do competitive pricing strategies have any effect in persuading you to keep

that property?

Great effect

23

Insignificant effect

19

Small effect

No effect

48

Which type of ads of Supertech is more appealing to you?

That establish emotional association

16

That demonstrate price benefit, extra features, value or location

30

That try to evoke humor

Advertisements must catch-hold and sustain the consumer's attention and push
him to respond. Also critical to marketing communication is knowing if the
message was perceived as intended. Also the advertisement should stay/stick in
the consumer's mind. It should be memorable and allow for easy recall.

49

In your opinion how frequently real estates companies make an attempt

to analyze the composition of marketing mix of their competitor?
Frequency

No. of respondents

Seldom

Only at slump season

20

Regularly

30

According to survey of 50 respondents 30 of them said that real estates

companies analyze the marketing mix of their main competitors. The industry
structure affects long run profitability. Therefore, competitors should be
understood and monitored. Their actions can spoil an otherwise attractive
industry, their weaknesses can be a target for exploitation and their response to
firms marketing initiatives can have impact on its success.

50

CONCLUSION AND RECOMMENDATIONS

Understanding buying behavior of customer is the toughest task for real

estater like Supertech Ltd. We can identify the factors, which influence
purchase decisions, but it is next to impossible to know which factor
influence when. We have countless permutation and combination for it,
each individual has different behavior and different influencing factors.

Real estate companies spend millions of dollars on advertising and

especially on celebrities. Hoping that the stars will bring their magic to the
products and services they endorse and make them more appealing a
successful. But, all that celebrity glitter is not gold, but it can be. It
appropriately used celebrity advertising has paid off and definite
influenced the purchase decision. Advertisement does a premium in term
of impact and memorability. There is also a position influence on
persuasion, though less strong.

Supertech Ltd., the Twenty-first century experienced real estate developer,

suggests to become the actual originator of heavenly high-end town
advancements in the nation because they build memorable custom
projects.

Supertech Ltd. is ready to offer the primary differentiating elements inside

the Business, that are its revolutionary, distinctive & unparallel ideas,
multiple perspective reality options, and unparalleled substantial support
benchmarks. Displaying its dedication in the direction of creating state- ofart property works of art (such as SUPERNOVA), Supertech has got
constantly worked to gather the very best expertise in the market.

The organization has acquired useful experience of real estate sector with
different and complimentary skills from the rich network of first class
intermediaries, banking institutions, high-net worth individuals plus some
of the very most respected designers in and out of India.

The 'success' of a real estate agency is commonly measured by the size;

number and frequency of its advertisements, there are awards for agents
51

with the most advertisements. Hundreds of faxes are sent from the head
offices of networks urging salespeople in branch offices to do more
advertising and beat the other networks. There are gala dinners with prizes
for salespeople who have persuaded home-sellers to pay the largest sums
of money for advertisements.

By adopting & adhering to global standards for its customers, Supertech

Ltd. is positioned to occupy a place of pride in the reality development
industry. Introducing the best of global designs and practices, creative but
functional and practicing innovation utilizing services of world renowned
architects and engineers, Supertech is erecting buildings in harmony with
environs and aesthetically pleasing with dramatic landscapes and
impressive faades.

With the aim to enhance the image of the nation by creating world class
projects, Supertech promises To give the nation new horizons by
expanding one idea into a concept of unimaginable advantages and offer a
plethora of services and projects. Supertech Ltd intends to feature as the
connoisseur of impeccable taste and magnificence in real estate.

52

BIBLIOGRAPHY
Books

Etzel M.J., Walker B.J., Stanton W.J. and Pandit A. (2009), Marketing
Concepts and Cases 12th edition, McGraw Hill

Govindarajan M. (2007), Marketing Management Concepts, Cases,

Challenges and Trends, Second Edition, Delhi: Prentice Hall of India

Schiffman G. Leon & Kanuk Leslie Lazar (2006), Consumer Behaviour,

Pearson Education

Websites

www.krepublishers.com

www.ibef.org

www.economywatch.com

www.supertechlimited.com

http://www.ndtv.com/

53

APPENDIX
QUESTIONNAIRE
Q1. For buying a house from where will you or from where do you get
information?
From Property Dealer
From Government Agencies
From Direct From Builders or from the Companies
Advertisements
Internet
Others

Q2. What according to you are the features that influence you to select a particular
property (1-Most important Factor; 5-Least Important Factor)

Price
Location
Advertising
Resale value
Good promotional offers
Additional Facilities

Q3. Which companys advertisements do you like?

54

SUPERTECH

DLF

OMAXE

Q4. Promotions result in increase in sales of a property?

Q5. What kind of competitive strategies should companies give?

Ads that talk of features and benefits of product
Ads that talk of additional schemes/offers with the product
Ads which emphasize both offers and features

55

Q6. Which media do you think Supertech should use for giving ads?
Newspapers

TV

Magazines

Combination of these

Q7. Do advertisements have an effect on you?

Yes

No

Q8. Do competitive pricing strategies have any effect in persuading you to keep
that property?
Great effect
Small effect
Insignificant effect
No effect
56

Q9.Which types of ads are more appealing to you?

That establishes emotional association
That demonstrates price benefit, extra features, value or location
That tries to evoke humor

Q10. In your opinion how frequently real estate companies make an attempt to
analyze the composition of marketing mix of their competitor?
Seldom
Only at slump season
Regular

57