THE PERCEPTUAL STUDY OF BUYERS TO ANALYSE THE REASONS FOR TRANSITION FROM DELHI TO NCR

Submitted in partial fulfillment of the requirements for Post Graduate Diploma in Management (PGDM)

By Ashwani Dadhich Class of 2010

Bharatiya Vidya Bhavans Usha & Lakshmi Mittal Institute of Management Copernicus Lane, Kasturba Gandhi Marg New Delhi

July 2011

Acknowledgement

I express my sincerest gratitude and thanks to honorable, Mrs. Anamika Lilothia, for whose kindness I had the precious opportunity of attaining training at Earth Infrastructure . Under her brilliant guidance I could complete the project being undertaken on the perceptual study of buyers to analyse the reason from Delhi to Delhi NCR in Earth infrastructure successfully in time. Her meticulous attention and invaluable suggestions have helped me in satisfying the problems involved in the work. I would also like to thank the overwhelming support of all the people who gave me the opportunity to learn and gain the knowledge about the various aspects of the industry. I would like to extend my thanks to my faculty mentor Dr. Arun Tyagi for their constant enthusiastic encouragement and valuable suggestions without which this project would not been successfully completed.

Student Name --------------------------

Signature--------------------------Date --------------------------------

ii

Certificate of Originality

I --------------------------------------------------- Roll No -------------- Class of 2008, a full time bonefide student of first year of Post Graduate Diploma in Management (PGDM) Programme of Bharatiya Vidya Bhavans Usha and Lakshmi Mittal Institute of Management, New Delhi hereby certify that this project work carried out by me at ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- and the report submitted in partial fulfillment of the requirements of the programme is an original work of mine under the guidance of the industry -------------------------------------------and mentor faculty ---------------------------------------------------------------------------------------------------------------mentor------------------------------------------------------------------------------, and is not based or reproduced from any existing work of any other person or on any earlier work undertaken at any other time or for any other purpose, and has not been submitted anywhere else at any time

(Students Signature) Date: July 01, 2011

(Faculty Mentors Signature) Date: July 01, 2011

iii

SYNOPSIS OF EXECUTIVE SUMMARY

INTRODUCTION

In India real estate were presuming to be just sale and purchase of the property in the market and attaching the word with real estate broker/agents. But the scenario has tremendously changed. The sector now has become well organized industry with the major players performing well in the field.

Earlier people used to search for a new home within Delhi but now things have changed tremendously. People looking for a new home have started focusing on the upcoming NCR area comprising Gurgaon, Noida, Greater Noida, Faridabad and Ghaziabad. There are numerous factors responsible for this change, which have been identified and analyzed during the research and the same has been indicated later in the report.

Table of Contents iv

SN 1 2

Content Objectives of the study Introduction Company profile Real estate industry profile

Page no. 1 2-4

3 4

Real estate market and reasons for boom Review of literature Research methodology Objective Scope of study Steps of study

5 6 -7

Research design Description of the research Sampling method Sample size Data collection method Problems &limitations

8-13

6 7

Factors and parameters chosen for survey Data analysis Factor analysis Table and charts Gurgaon Noida Ghaziabad

14-37 38-52

Recommendations

53

9 10 11

Conclusion Bibliography Appendices v

54 55 56-58

LIST OF TABLE AND FIGURES vi

SN 1.

CONTENT GURGAON Perception of the people about the cities of NCR First pull to choose housing complex Major reason to shift Residence NOIDA Perception of the people about the cities of NCR First pull to choose housing complex Major reason to shift Residence GHAZIABAD Perception of the people about the cities of NCR First pull to choose housing complex Major reason to shift Residence

PAGE NO. 38 39 41 43 45 46 48 49-50 51

vii

OBJECTIVES OF THE STUDY:

To find out the reasons for transition of people from Delhi to National Capital Region (NCR).

To find out the perception of people about the cities included in NCR namely Gurgaon, Noida, Greater Noida, Faridabad and Ghaziabad.

To know the degree of importance of various factors which people consider while purchasing a house.

INTRODUCTION 1

COMPANY PROFILEEarth Infrastructure Ltd. is an independent infrastructure provider with committed customer base. Backed by a group of dynamic investors from India and Europe, Earth infrastructures is one of Indias most well capitalized real estate company. Strong financial support and engineering expertise makes us a quality infrastructure provider with global presence.

VISION To be the most innovative and trusted brand in real estate industry by adopting new technologies with a focus on green and eco-friendly construction with focus to fulfill the expectations of the customers.

MISSION

There will be one face and one voice of earth infrastructure for the outer
world.

To

ensure complaint free operations with total customer satisfaction by resolving

customers issues with utmost attention and speedy services round the clock.

To deliver the projects differently and make the customer to feel at ease and comfort
and create the Earth Brand a most trusted brand.

PHILOSOPHY

Innovation beyond Imagination.

INDUSTRY PROFILE 2

REAL ESTATE MARKET Construction sector has been the focus sector for some time as its

impact on the economy is big by virtue of its being a huge employment generator. The real estate market is booming. Its growing at around 12% per annum.

Today its boom time in the real estate market and homebuyers couldnt have asked for a better opportunity to buy a home. Indian developers are now not talking of anything less than world class. Infrastructure and economic development of some cities as well as the housing shortages are driving the boom. There is a fundamental change in the approach of the buyer, developer and the government. They all are seeking quality development. The middle class demands the best that money can buy. With the competition in the market, developers have to deliver the best within specified time frames and the government, discharged from the duty of construction has to keep everyones interest at heart.
The Major reasons for boom in the real estate market are:

Easy Availability of Loan and Lower Interest Rate

There is easy access to loans. The housing finance has posted a growth of 29 percent in the last fiscal, touching 53,685 crores. Further, interest rates on housing loans have come down and are much lower, between seven to eight percent as compared to 13-14 percent five years ago. Affordability

Another

major reason for boom is that housing in India has become more

affordable in recent times. A decade ago, a house cost nearly 15-20 times an individuals annual salary. Today the cost of a house has come down to just about three to four times an individuals annual pay package.

Increase in number of nuclear families

In the past, owing a home was a dream realized only after retirement. Largely because people looked at it as a means of providing for their children, having themselves lived in a joint family setup. Joint families are progressively getting included in the pages of history book even in a country like ours. Not surprisingly the rise in the number of nuclear families is pushing demand for housing further to cater to a generation that is not averse to taking risks. Nor are they hesitant when it comes to paying a price to realize their dreams Investment Option

Competitive offers by home loan companies combined with good quality projects developed by reputed builders having a number of amenities have made investing in properties very attractive Wherever there is growth and opportunity, investors are bound to be around and traditionally real estate has been a safe investment option. Property is looked upon by many as an investment option that appreciates substantially when compared to other traditional tools of investment. Migration Of Industries

Another major reason for boom in the real market is the migration of industries to smaller towns leading to rural progress. With villages turning into towns and towns becoming metros, the property market is growing steadily. This revolution has directly resulted in greater demand for not just housing but also for the overall real estate market with heightened demand for better infrastructure, transportation facilities, entertainment zones, shopping malls, multiplexes and more.

REVIEW OF LITERATURE Delhi is now more or less saturated and the high demand for residential properties

has increased rates beyond the reach of middle class. As a result, the sub urban towns within the NCR; Gurgaon, Noida, Faridabad and Ghaziabad have become destinations for new residential projects that offer affordable quality housing to the middle class as well as luxury housing for high end users. As these sub unbans are now increasingly generating employment, they will decide the future growth pattern of the NCR.

The business and trader class still largely dominate old residential areas in west and

northwest Delhi. Similarly the large multi-storey societies in East Delhi in mayur vihar and Patparganj have found preference with the service class. The blue-collar segment remains limited to apartments and society developments while big and small traders occupy the whole of west Delhi, including Rohini. The elite class, in terms of social status, i.e. politicians, bureaucrats and celebrities, restrict themselves to central and south Delhi. Suburban areas like Noida and Gurgaon have developed as alternative housing solutions and are inhabited mostly by professional and service class people, as well as an increasing upper middle class segment.

Gurgaon offers a good quality of living with many high-end residential projects by

private developers. These new developments offer uninterrupted power supply, community and health care centers along with facilities like a swimming pool, clubhouse and other services. As per industry estimates, projects with approximately 5000 dwelling units have been announced in Gurgaon. Since it will be maturing as an independent city, occupancies will improve but in the present context, it is an oversupply situation.

Noida has experienced rising prices in its existing commercial, retail and residential

real estate. The new developing residential sectors are along the Greater Noida expressway. Occupancies in Noida are good and prices are looking northward. It is a good destination for the middle class, as far as accessibility, social and physical infrastructure and growth perspective are concerned 5

RESEARCH METHODOLOGY:

What is research? Research can be defined as a scientific and systematic search for pertaining information on a specific topic. We define research as the systematic design, collection, analysis and reporting of data and findings relevant to a specific situation facing the company. The main aim of research is to find out the truth which has not been discovering yet.

OBJECTIVES: To find out the reasons for transition of people from Delhi to National Capital

Region (NCR). To find out the perception of people about the cities included in NCR namely

Gurgaon, Noida, Greater Noida, Faridabad and Ghaziabad. To know the degree of importance of various factors which people consider while

purchasing a house.

SCOPE OF THE STUDY :

The project undertaken makes me able to improve my professional skills and expertise. It helps me in getting an idea of Real Estate industry and its importance in our life. It increases my confidence on professional ground by dealing with high profile corporate that are very hard to convince. As for as companys benefit is concerned, this project helps company to know its market condition and behavior and perception of customers.

In order to accomplish the objectives of the project a survey has been

conducted amongst customers of the real estate market. The survey is based on questionnaire filling method and limited to some parts of Delhi NCR region. The 6

survey is restricted to the information needed to show legal, technical and financial transparency between project developer and customer . STEPS OF THE STUDY Understanding the objectives and requirements of the project clearly. Prepared a questionnaire keeping in mind the objectives to be achieved. Accordingly

one questionnaire was made: Housing complex(Annexure 1) Searched for busy commercial places, occupied housing complexes and under-

construction housing complexes located in Gurgaon, Noida, Greater Noida, Faridabad and Ghaziabad. Obtained Permission to conduct surveys in shopping malls and housing Complexes. Conducted survey with the help of a questionnaire in shopping malls and occupied

housing complexes and carried out in different cities of NCR Analyzed the data collected, through tables and charts in MS Excel. Drafted the report.

RESEARCH DESIGN

Description of the Research This research on will consist of exploratory research as well as conclusive research. It begins with a hypothesis, and to arrive at a conclusion, which includes secondary data as well as information from case data and questionnaire. Sampling Method Stratified method of sampling was used for face-to-face survey while snowball sampling method was used while conducting telephonic survey.

Sample Size People living in Gurgaon Housing and Society Complexes, in Noida housing complexes and in Ghaziabad (Indira puram) Housing complexes were surveyed. Total Number of people surveyed was: Gurgaon Housing Complex Noida Housing Complex Ghaziabad Housing Complex 50 50 25 -------------125 people Data Collection Method Data was collected by using primary as well as secondary methods of data collection.

Primary Method 1) Face to Face interview 2) Questionnaire 3) Telephonic Survey 4) Survey through E-Mail 8

5) Survey through Reference Secondary Method 1) Magazines on Property 2) Internet sites on Property 3) Internet websites of popular property developers of India.

PROBLEMS ENCOUNTERED

Denial of permission to conduct survey in PVR shopping mall and few housing

complexes like DLF Belvedere Park, Ansals Sushant Lok, etc. Travelling to far-off places from Delhi every day. Analyzing the perception of people about different cities of NCR was little

difficult as some respondents didnt have much knowledge about Ghaziabad and Faridabad.

LIMITATIONS

Study was restricted to Gurgaon, Noida, Greater Noida, Vaishali and Indirapuram. Study was restricted to occupied housing complexes, shopping malls.

FACTORS AND PARAMETERS CHOSEN FOR SURVEY The questionnaire was prepared in such a way so as to achieve all the three objectives mentioned above. In order to attain the objectives five major questions were included in the questionnaire along with few general questions.

In order to achieve the first objective of finding out the reasons responsible for

transition from Delhi to NCR two questions were included. One to find out the first pull that attracts the people most while buying the property (See Q1 of Housing Questionnaire given in Annexure 1). And the second question helps in finding out other major reasons for purchasing the property (See Q6 of Questionnaire given in Annexure 1)

Factors were 1. Brand name Brand name is something that immediately comes into your mind when you think of any product. Even in case of purchase of property, brand name plays a major role. Many people to prefer buy the property developed by well-known and reliable developers. Moreover properties developed by established developers help buyers in getting the best returns, as these properties can be sold any time at a premium. 2. Advertisements Its an old belief that advertisement can sell literally anything. In order to ascertain whether its true for property or not, it was also included as a first pull factor in the questionnaire. 3. Location This deals with property and connectivity to road links, airports, railway stations and bus stops. The more approachable the property is to the public transport terminal, the more value it holds. Proximity to the Central Business District also plays an important role in this aspect. 4. Affordability Budget plays an important role in short listing the options available in the market. Its only when the budget is decided, one starts looking for the available options in the price range decided.

Some other factors were: Need for More Space Need for Better facilities Need for Healthy environment Want for Quality Construction 10

Lack of facilities in previous residence Proximity to Workplace. Others.(investment, own house, job transfer)

In order to achieve the second objective of knowing the perception of people about

cities included in NCR a question related to it was included in the questionnaire (See Q12 of Housing Questionnaire given in annexure 1). Parameters were

1.

Proximity to Delhi - This parameter includes all the location factors such as proximity to

central business district, to schools, to hospitals, existence of huge shopping malls, etc. 2.
Business Hub This parameter helps in analyzing the perception that people have about

the job opportunities and business prospects available in different cities included in NCR. 3.
Education Hub- This parameter helps in analyzing the perception that people have about

the education system and facilities available for better education in different cities included in NCR 4.
Quality of Living This parameter helps in analyzing what people think about the style

of living prevalent in the 5 cities included in NCR. 5.

Law and Order This parameter helps in analyzing what people about the safety and

security situation prevalent in the 5 cities chosen for the survey. 6.

Infrastructural Development This parameter helps in analyzing how respondents rate 5

different cities chosen for the survey, on the basis of conditions of road and highways, availability of public transport, etc.

In order to achieve the third objective of knowing the degree of importance of various factors, which people consider while purchasing the property, two questions were 11

included in the questionnaire. One to find the degree of importance of external factors (See Q2 of Housing Questionnaire given in annexure 1) and another to find the degree of importance of in-locality factors (See Q3 of Housing questionnaire given in annexure 1). Factors were External Factors influences the choice of customers1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Price Range Connectivity to Public transport Property Dealers Proximity to workplace Availability of loan Experts on T.V. shows related to Property Easy Payment Plans Rate of Interest Resale Value Clear title of property

11. Proximity to School 12. Proximity to Hospitals 13. Proximity to Entertainment Centers

In Locality Factors influence the choice of customers 1. Peaceful Locality 2. Pollution Free environment 3. Population/occupancy 12

4. Quality of Construction 5. Maintenance/ maintenance cost 6. Suitability of Home Type 7. Utilization of space 8. Water Availability 9. Power Backup 10. Safety-Security 11. Recreational facilities/Sports Complex 12. Car Parking facility 13. Club Membership

DATA ANALYSIS

In order to attain the objective of knowing the degree of importance of various factors which people consider while purchasing the property, A questionnaire was included. From the questionnaire the responses to these questions were recorded in the computer and analyzed.

While in order to know about the perception of people about different cities and also 13

to know the major reasons for buying the property three questions were included in the

questionnaire. Responses to these questions were recorded in MS excel and were analyzed through tables and Charts in MS word.

The following pages of the report contain Factor Analysis as well as Charts.

Q.2 FACTOR ANALYSIS OF EXTERNAL FACTORS

14

Rotated Component Matrixa Component 1 peaceful locality pollution free environment population/occupancy quality of construction maintenance cost suitability of home type club membership car parking safety and security power backup water availability utilization of space .457 .631 .645 -.183 .255 .163 -.195 .064 .605 -.255 .025 .316 2 .156 .293 -.045 .724 -.090 .521 .773 393 -.086 -.016 -.004 .186 3 -.004 -.124 .187 .172 -.022 -.564 -.131 .590 .079 .793 .016 .474 4 .255 -.411 -.167 -.112 .730 .347 .149 .207 .262 .131 .689 .316

Extraction Method: Principal Component Analysis. Rotation Method: Varimax with Kaiser Normalization. a. Rotation converged in 6 iterations.

FACTOR 1 ANALYSIS

15

prox. To workplace prox. To school/hospital

NI 2 7 9

SI 4 6 10

AI 16 51 67

VI 80 48 128

VMI 23 13 36

TOTAL 125 125 250

HYPOTHESIS FORMULATION-

It improves the understanding of the situation under study, Identify the variables under study and Helps to frame hypothesis that are testable. Working Hypothesis (H1) Locational factor will influence the choice of customers while choosing the housing complex. Null Hypothesis (Ho) Locational factor will not influence the choice of customers while choosing the housing complex. Alternative Hypothesis - Locational factor will influence the choice of customers while choosing the housing complex. HYPOTHESIS TESTING

CHI SQUARE TESTING - It allows finding independence of two attributes, population is divided into small categories according to two attributes. Using chi square method can verify that whether these two attributes are dependent on each other or not.

Expected value =

S.N

Observed value

Expected value

(Fi-ei)2

(Fi-ei)2/ei

16

1 2 3 4 5 6 7 8 9 10 total

2 7 4 6 16 51 80 48 23 13

4.5 4.5 5 5 33.5 33.5 64 64 18 18

6.25 6.25 1 1 306.25 306.25 256 256 25 25

1.38 1.38 .2 .2 9.1 9.1 4 4 1.38 1.38 32.12

2 = 2 = 32.12 Degree of freedom= (no. of rows -1) x (no. of columns-1) (2-1) x (5-1) =1x4 = 4

Alpha value = 5% i.e. 0.05 (see the appendix at last) 2tab = alpha value, Degree of freedom = 0.05, 4 (see in the table1) = 9.49

cal > tab

FINDINGS - So the Working Hypothesis (H1) will be accepted and it proves that Locational factor will influence the choice of customers while choosing the housing complex.

ANALYSIS OF FACTOR 2 17

SN FACTORS 1 2 3 brand image property dealers Total

NI 19 18 37

SI 45 52 97

AI 50 44 94

VI 6 3 9

MI 4 8 12

TOTAL 125 125 250

HYPOTHESIS FORMULATION Working hypothesis (H1) The Brand name of company and dealers in the market will influence the choice of customers in choosing housing complex. Null Hypothesis (Ho) - The Brand name of company and dealers in the market will not influence the choice of customers in choosing housing complex. Alternative Hypothesis - The Brand name of company and dealers in the market will influence the choice of customers in choosing housing complex. Hypothesis Testing By using chi square method -

Expected =
S.N 1 2 3 4 5 6 7 8 9 10 Total Observed value 19 18 45 52 50 44 6 3 4 8 Expected value 18.5 18.5 48.5 48.5 47 47 4.5 4.5 6 6 (Fi-ei)2 .25 .25 12.25 12.25 9 9 2.25 2.25 4 4 (Fi-ei)2/ei .013 .013 .25 .25 .19 .19 .5 .5 .6 .6 3.10

2 = 18

2 = 3.10 Degree of freedom = (no. of rows -1) x (no. of columns-1) = (3-1) x (5-1) =2 x 4 =8

Alpha value = 5% i.e. 0.05 (see the appendix at last) 2tab = alpha value, Degree of freedom = 0.05, 8 (see in the table1) = 15.50 So, cal < tab FINDINGS - So the Null Hypothesis (Ho) will be accepted and it proves that Brand name and dealers in the market will not influence the choice of customers while choosing the housing complex

ANALYSES OF FACTOR 3 SN 1 2 total FACTORS NI Payment 12 type Interest rate 4 16 SI 34 12 46 AI 54 62 116 VI 18 32 50 MI 7 15 22 TOTAL 125 125 250

HYPOTHESIS FORMULATION Working hypothesis (H1) Interest rate and type of payment will influence the choice of customers in choosing housing complex. Null Hypothesis (Ho) - Interest rate and type of payment will not influence the choice of customers in choosing housing complex. Alternative Hypothesis - Interest rate and type of payment will influence the choice of customers in choosing housing complex.

19

Hypothesis Testing By using chi square method Expected value = SN 1 2 3 4 5 6 7 8 9 10 TOTAL Observed value 12 4 34 12 54 62 18 32 7 15 Expected value 8 8 23 23 58 58 25 25 11 11 (Fi-ei)2 16 16 121 121 16 16 49 49 16 16 (Fi-ei)2/ei 2 2 5.2 5.2 .27 .27 1.96 1.96 1.45 1.45 21.76

2 = 2 = 21.76 Degree of freedom= (no. of rows -1) x (no. of columns-1) (2-1) x (5-1) =1 x 4 =4

Alpha value = 5% i.e. 0.05 (see the appendix at last) 2tab = alpha value, Degree of freedom = 0.05, 4 (see in the table1) = 9.49 So, cal > tab Findings working hypothesis (H1) will be accepted it means Interest rate and type of payment will influence the choice of customers in choosing housing complex.

FACTOR 4 ANALYSES 20

SN Factors 1 2 3 connectivity to public transport clear title of property Total

NI 8 2 10

SI 30 17 47

AI 59 33 92

VI 16 40 56

MI 12 33 45

TOTAL 125 125 250

Hypothesis Formulation Working Hypothesis (H1) clear title and connectivity will influence the choice of customers in choosing housing complex. Null Hypothesis (Ho) - clear title and connectivity will not influence the choice of customers in choosing housing complex. Alternative Hypothesis - clear title and connectivity will influence the choice of customers in choosing housing complex. Hypothesis testing By using chi square method -

Expected =
S.N. 1 2 3 4 5 6 7 8 9 10 Observed value 8 2 30 17 59 33 16 40 12 33 Expected value 5 5 23.5 23.5 46 46 28 28 22.5 22.5 (Fi-ei)2 9 9 42.5 42.5 169 169 144 144 110.25 110..25 (Fi-ei)2/ei 1.8 1.8 1.7 1.7 3.67 3.67 5.14 5.14 4.9 4.9

2 =
2 = 34.28 21

Degree of freedom= (no. of rows -1) x (no. of columns-1) (2-1) x (5-1) =1 x 4 =4

Alpha value = 5% i.e. 0.05 (see the appendix at last) 2tab = alpha value, Degree of freedom = 0.05, 4 (see in the table1) =9.49 As

cal > tab

Findings So working hypothesis (H1) will be accepted it means clear title and connectivity to public transport will influence the choice of customers in choosing housing complex.

Analysis of Factor 5 1 2 3 4 price range home loan availability resale value total 4 9 3 16 6 10 8 24 17 24 12 53 53 44 48 145 45 38 54 137 125 125 125 375

Hypothesis Formulation Working Hypothesis (H1) the Cost effectiveness factor will influence the choice of customers in choosing housing complex. Null Hypothesis (Ho) - the Cost effectiveness factor will not influence the choice of customers in choosing housing complex. Alternative Hypothesis - the Cost effectiveness factor will influence the choice of customers in choosing housing complex. HYPOTHESIS TESTING By using chi square method Expected = 22

SN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Observed value 4 9 3 6 10 8 17 24 12 53 44 48 45 38 54 Total

Expected value 5.3 5.3 5.3 12 12 12 26.5 26.5 26.5 48.3 48.3 48.3 45.6 45.6 45.6

(Fi-ei)2 1.69 13.69 5.3 36 4 16 90.25 6.25 210.25 22 18.5 .09 .36 57.76 70.56

(Fi-ei)2/ei .31 2.58 1 3 .33 1.33 3.40 .23 7.93 .45 .38 .001 .007 1.26 1.54 23.74

2 =
2 = 23.74 Degree of freedom= (no. of rows -1) x (no. of columns-1) (3-1) x (5-1) =2 x 4 = 8 Alpha value = 5% i.e. 0.05 (see the appendix at last) 2tab = alpha value, Degree of freedom = 0.05, 8 (see in the table1) =15.50 As

cal > tab

Findings - So working hypothesis (H1) will be accepted it means clear title and connectivity to public transport will influence the choice of customers in choosing housing complex.

CONCLUSION

23

Thus with the help of factor analysis we come to the conclusion that following

External factors are most important.

1.

Home Loan Facility Many people in India still prefer to buy property by

taking home loan. Easy home loan is one of the major reasons for the boom in the real estate market. Stiff competition in the home loan segment has brought in a wide range of products to the customers for them to choose from. These days the top property developers themselves help the customers to avail home loan. They provide the customers with necessary details regarding home loan.

2.

Price Price or in other words budget is always an important factor while

purchasing something. And when it comes to the property, price is a major detrimental factor. According to the budget people choose the property. Even the leading developers are well aware of this fact and thus have been building homes for all the classes of people Independent Villas and luxurious flats for high class and upper-middle class people and Small flats for middle class people.

3.

Proximity to workplace Well no doubt people want to stay near to their

workplace. No one actually likes to spend hours in commuting between the workplace and home. Developers are well aware of this fact too and therefore opening up new projects only in those places where the industries are existing or are coming up.

4.

Resale Value It has been realized that people while purchasing the house

also considers the resale value of it. No one likes to spend money on something, which will fetch no return after a certain period of time. Property fetches high returns for its owner. It is considered by many as the safest investment tool.

5. Proximity to School /hospitals A hospital near ones home definitely has its pros like availing medical facility in case of emergency; it saves on a lot of time and if a family member 24

is hospitalised in a hospital that is close to their home and a school near home also save time of their childrens. 6. Clear title - customers dont buy a property if the title of property is not clear. If title is not clear or marketable it will cause problem in future and financial institutes refuse to finance on such properties. 7. Connectivity to Public Transport - Public transportation provides personal mobility and freedom for people from every walk of life. And better Access to public transportation gives people transportation options to get to work, go to school, visit friends, or go to a doctors office.so having home at nearby transport is what people look for these days. 8. Payment type people these days became more concern about the available plan for payment like easy/ flexible or its linked to construction and the charges joined with them. 9. Interest rate - When deciding regardless of whether or not to buy a property the rate has a dramatic effect on buying power and ought to be taken into consideration. Sellers also ought to be conscious of where interest rates are heading due to the fact the next buyer for their home could have merely got priced out driving values for your home downward.

Q.3 FACTOR ANALYSIS OF LOCATIONAL FACTORS 25

ANALYSIS OF FACTOR 1-

Population/occupancy Pollution Free environment safety /security Peaceful locality Total

11 9 4 6 30

12 13 9 32 66

34 30 14 48 126

42 51 62 28 183

16 22 36 11 85

125 125 125 125 500

HYPOTHESIS FORMULATION Working Hypothesis (H1) the surrounding factor will influence the choice of customers in choosing housing complex. Null Hypothesis (Ho) - the surrounding factor will not influence the choice of customers in choosing housing complex. Alternative Hypothesis - the surrounding factor will influence the choice of customers in choosing housing complex.

HYPOTHESIS TESTING By using chi square method

Expected =

SN

Observed value

Expected value 26

(Fi-ei)2

(Fi-ei)2/ei

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21

11 9 4 6 12 13 9 32 34 30 14 48 42 51 62 28 16 22 36 11 Total

7.50 7.50 7.50 7.50 16.50 16.50 16.50 16.50 31.50 31.50 31.50 31.50 45.75 45.75 45.75 45.75 21.25 21.25 21.25 21.25

12.25 2.25 12.25 2.25 20.25 12.25 30.25 24.25 6.25 2.25 306.25 272.25 14.06 27.56 264.56 315.06 27.56 .56 122.37 113.3

1.63 .3 1.63 .3 1.22 .74 1.83 1.46 .19 .07 9.72 8.64 .30 .60 5.7 6.88 1.29 .026 5.75 5.33 53.5

2 =
2 = 53.5 Degree of freedom= (no. of rows -1) x (no. of columns-1) (4-1) x (5-1) =3 x 4 =12

Alpha value = 5% i.e. 0.05 (see the appendix at last) 2tab = alpha value, Degree of freedom = 0.05, 4 16(see in the table1) = 21.09 As

cal > tab

Findings - So working hypothesis (H1) will be accepted it means Surrounding factor will influence the choice of customers in choosing housing complex. ANALYSIS OF FACTOR 2 27

1 2

Club membership Space utilization Car parking Power backup Total

28 20

66 48

16 38

6 12

5 7

125 125

3 4

16 18

57 66

37 32

9 4

8 5

125 125

82

231

123

31

25

500

HYPOTHESIS FORMULATION Working Hypothesis (H1) additional factors will influence the choice of customers in choosing housing complex. Null Hypothesis (Ho) additional factor will not influence the choice of customers in choosing housing complex. Alternative Hypothesis additional factor will influence the choice of customers in choosing housing complex.

HYPOTHESIS TESTING By using chi square method

Expected =

SN

Observed value

Expected value

(Fi-ei)2

(Fi-ei)2/ei

28

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 total

28 20 16 18 66 48 57 66 16 38 37 32 6 12 9 4 5 7 8 5

20.5 20.5 20.5 20.5 57.75 57.75 57.75 57.75 30.75 30.75 30.75 30.75 7.75 7.75 7.75 7.75 6.25 6.25 6.25 6.25

56.25 .25 20.25 6.25 68.06 95.06 .56 68.06 10.5 52.56 39.06 1.56 3 18 1.5 14 1.56 .56 3.0 1.56

2.74 .01 .98 .30 1.17 1.64 .01 1.17 .34 1.7 1.27 .05 .38 2.32 .19 1.8 .24 1.08 .48 .24 17.11

2 =
2 = 17.11 Degree of freedom= (no. of rows -1) x (no. of columns-1) (4-1) x (5-1) =3 x 4 =12

Alpha value = 5% i.e. 0.05 (see the appendix at last) 2tab = alpha value, Degree of freedom = 0.05, 12(see in the table1) = 21.02 As

cal < tab

29

Findings - So In this case Null hypothesis (Ho) will be accepted it means additional factor will not influence the choice of customers in choosing housing complex

. FACTOR 3 ANALYSES

2 3

Quality of construc tion Suitability of home type Total

15

54

51

125

5 6

12 16

41 56

40 94

27 78

125 250

HYPOTHESIS FORMULATION Working Hypothesis (H1) quality and suitability will influence the choice of customers in choosing housing complex. Null Hypothesis (Ho) - quality and suitability will not influence the choice of customers in choosing housing complex. Alternative Hypothesis - quality and suitability will influence the choice of customers in choosing housing complex.

HYPOTHESIS TESTING By using chi square method

Expected =

SN

Observed value

Expected value 30

(Fi-ei)2

(Fi-ei)2/ei

1 2 3 4 5 6 7 8 9 10 total

1 5 4 12 15 41 54 40 51 27

3 3 8 8 28 28 47 47 39 39

4 4 16 16 169 169 49 49 144 144

1.3 1.3 2 2 6.03 6.03 1.04 1.04 3.69 3.69 28.12

2 =
2 = 28.12 Degree of freedom= (no. of rows -1) x (no. of columns-1) (2-1) x (5-1) =1 x 4 =14

Alpha value = 5% i.e. 0.05 (see the appendix at last) 2tab = alpha value, Degree of freedom = 0.05, 4 (see in the table1) = 9.49 As

cal > tab

Findings - So working hypothesis (H1) will be accepted it means quality and suitability factor will influence the choice of customers in choosing housing complex. ANALYSIS OF FACTOR 41. 2. 3. Water availabili ty Maintenan ce cost Total 7 2 5 5 22 27 16 32 48 72 48 110 30 18 48 125 125 250

HYPOTHESIS FORMULATION

31

Working Hypothesis (H1) water availability and maintainence cost will influence the choice of customers in choosing housing complex. Null Hypothesis (Ho) - water availability and maintainence cost will not influence the choice of customers in choosing housing complex. Alternative Hypothesis - water availability and maintainence cost will influence the choice of customers in choosing housing complex.

HYPOTHESIS TESTING By using chi square method

Expected =
SN 1 2 3 4 5 6 7 8 9 10 Total Observed value 2 5 5 22 16 32 72 48 30 18 Expected value 3.5 3.5 13.5 13.5 24 24 55 55 24 24 (Fi-ei)2 2.25 2.25 72.25 72.25 64 64 289 289 36 36 (Fi-ei)2/ei .64 .64 5.35 5.35 2.6 2.6 5.25 5.25 1.5 1.5 30.68

2 =
2 = 30.68

Degree of freedom= (no. of rows -1) x (no. of columns-1) (2-1) x (5-1) =1 x 4 =4 32

Alpha value = 5% i.e. 0.05 (see the appendix at last) 2tab = alpha value, Degree of freedom = 0.05, 4 (see in the table1) = 9.49 As

cal > tab

Findings - So working hypothesis (H1) will be accepted it means water availability and maintenance cost factors will influence the choice of customers in choosing housing complex.

33

CONCLUSION Thus with the help of factor analysis it can be concluded that following in-locality factors are important: 1. Quality of Construction Obviously when one buys a property he makes sure that the quality of construction is good. Everyone while buying a new product wants to buy quality stuff. Same applies to the property. Every buyer wants to buy a well built house.

2. Pollution Free Environment The immediate surroundings of the property is always evaluated by the buyer. These days developers give due importance in making the surroundings beautiful with innovative and creative landscaping. They involve landscape architects from different corners of the world to give their customers the best. The NCR is becoming more and more popular among home buyers because of its greenery and pollution-free environment. 3. Water Availability Water Availability, power backup and safety and security are some very important factors which people do consider while purchasing the property. All these factors are hugely responsible for the transition of people from Delhi to housing complexes in NCR as many colonies of Delhi faces problem of shortage of water and power failure while availability of these essential facilities are ensured in housing complexes by the respective developers. 4. Occupancy - Due to increasing crime this factor is becoming more and more important for the buyers. They dont want to settle down in such a place where hardly anyone else lives. People prefer to stay in a reasonably well-occupied housing complex. But its also true that people dont prefer to stay in highly populated areas as it was observed in the case of Shipra Sun City, Ghaziabad where 5000 families live in one single housing complex fight for space and car parking place. 34

5. Suitability of Home Type Nowadays due to the wide range of options available people can afford to be choosy. Now they dont need to compromise on anything. They dont buy a property till the time all of the essential things match their requirements. Developers do pay attention to the different requirements of different customers. Some want a flat on the second floor while some want a flat with two bedrooms. All these requirements are tried to be met by the developers. 6. Peaceful locality people now a day want a home away from anti-social thing in the society where they can spend their time peacefully. HOA rules are generally framed by the affiliates of the association in aid with the legal experts to offer a life of comfort in the neighbourhood area. Mostly these rules ensure peaceful stay in the neighborhood. 7. Maintenance Cost - Often a home's purchase price can be helpful in projecting maintenance costs. The recommendations for annual maintenance costs range from 1.5 to 4 percent of the home's original cost. While this is not always true, especially when the purchase price of a home is three-quarters of a million dollars or more, it is a good rule of thumb for the average home buyer.

35

TABLES AND CHARTS

Three tables and charts have been prepared for each of the three cities namely Gurgaon, Noida and Ghaziabad to analyze what respondents from each of these cities think about five cities included in NCR namely Gurgaon, Noida, Greater Noida, Faridabad and Ghaziabad on the basis of five parameters namely Location, Business Opportunity, Law and Order, Style of Living and Infrastructural Development and also to know the reasons for which they bought the property.

36

GURGAON

Perception of people about the cities of NCR

City name Gurgaon Noida Greater Noida Ghaziabad Faridabad Location 33 13 3 1 0 Business Opportunity 29 12 5 1 3 Education hub 29 13 4 3 1 Quality of livingInfrastructural 32 12 3 2 1 Development 26 13 8 2 1 Law and Order 30 8 3 3 6

Figure 1. Perception of the people about the cities of NCR

37

Findings: 1. Gurgaon buildings stand tall in each and every parameter. Gurgaon tops in all the

parameters among Gurgaon respondents. 2. Though in case of Infrastructural Development Greater Noida and Noida are also

ranked well by the Gurgaon residents. Probably the credit goes to DND flyover. 3. Location wise, people of Gurgaon feel only Gurgaon and Noida are good in the

entire NCR as Greater Noida, Faridabad and Ghaziabad could fetch only 1, 2 and 1 favorable response out of total 50 responses.

First pull to choose the Housing Complex Brand name 3 Advertisements 6 Location 26 Affordability 15

38

Findings: 1. The basic reason for people buying property in Gurgaon in mass scale is its

locational advantage. It shares border with the Capital of India. Moreover huge employment generating BPO companies are located in Gurgaon. Many Reputed schools and colleges have also come up in Gurgaon. Some of Indias biggest shopping malls having shops of international brands as well as famous national brands are also situated here. 2. Second major factor which attracted people to buy property in Gurgaon was

affordability. Developers realizing that most of the people shifting to Gurgaon will be from middle class society they constructed big towers with numerous reasonable flats. Since the price of the property kept by the developers suited the pockets of buyers they were able to buy it without any financial problem. 3. Third major factor was brand name. According to 8 % of the total respondents brand

name was the prime reason for which they bought the property. In Gurgaon Housing Complexes have been constructed by popular and leading property developers of India like Unitech, DLF, Ansals, Omaxe, Etc. 4. Only 4 % of the total respondents feel that it was advertisements which made them

buy the property. Advertisements can actually put the name of the property in the mind of the buyer but no one actually buys the property only on the basis of advertisements. Thus it will be wrong to say that advertisements are useless since they do help in selling though not directly.

39

Major reasons for shifting

Reasons More space Better Location Better Facilities Healthy environment Increase in living status Quality of Construction

No. Of People Reasons No. Of People Lack of

16

25 Proximity to Workplace 21

17 Lack of recreation 7

14 Own house 8

12 Investment 8

9 Others -

facilities 13

40

Findings: 1. Among various reasons better location is the most important reason for the people to

shift to Gurgaon Housing Complexes. Why location is most important has become apparent till now. 2. Proximity to Workplace and Better Facilities are close second and third most

important reasons. Proximity to Workplace may become the most important reason in few years time as industry migration to Gurgaon is happening quickly. All the international brands are preferring Gurgaon over Delhi for their regional office. Moreover people in need of better facilities like water availability, Power Backup, Safety and security, etc. also prefer to shift to Gurgaon as Housing complexes of Gurgaon provide all these facilities. 3. Need for more space, Need for Healthy Environment, lack of facilities in previous

residence and Increase in Living Status can be considered as other major factors for people shifting to Gurgaon Housing Complexes. 4. People also purchased property in Gurgaon for investment purpose. This reason may

not be seen in such a large number in any other city of NCR. Its so because people consider investment in property in Gurgaon as a very safe bet and expect high return on Investment.

NOIDA 41

Perception of People about the cities

City name Gurgaon Noida Greater Noida Ghaziabad Faridabad

Location 6 40 4 0 0

Business Opportunity 12 30 3 0 5

Education hub 12 25 8 0 5

Quality of living 18 28 5 1 1

Infrastructural Development 10 12 28 0 0

Law and Order 18 25 5 0 1

Findings: 42

1.

In Location, Noida is a clear

winner with 40 out of 50 respondents choosing it as the best location in the entire NCR. That is a huge percentage around 80% this shows that Noida people are happy with its Location. Noida is located close to the Capital of India and is also very closely located to Indirapuram, another upcoming city. 2. In all parameters other than

location, Gurgaon has also been ranked as no.1 by many people. 3. opportunities available. 4. In education parameter after One significant thing in this

chart is that Faridabad was selected by many Noida respondents as no.1 in case of business

Noida, Gurgaon is marked second highest which is close to the Noida. 5. The most significant thing

indicated by the chart is that people of Noida have chosen Greater Noida as no.1 in Infrastructural Development.28 out of 50 respondents have favorably marked for greater Noida while only 12 have marked for Noida.

First pull to choose the Housing Complex Brand name 4 Advertisements 2 43 Location 27 Affordability 17

Findings: In Noida just like in Gurgaon,

location is the most important factor that pulls the people to buy a new home. property as an option in the mind of the prospective buyer. According to respondents from Advertisements have no role in

the sale of homes but as said before in the report advertisements do add the advertised

Noida Brand name of the developer didnt play a big role in making them buy the property. Its probably because Noida doesnt have highly popular brands like Ansals, Unitech, Eros, DLF, etc. Affordability is another major

reason for the buying the property in Noida. As there is hardly any popular developer in Noida and the homes provided in Noida are not as luxurious as that in Gurgaon, the prices are very low as compared to the prices prevailing in Gurgaon. In Gurgaon Higher class and Upper middle class people also buy homes in large numbers whereas in Noida the number of high class and upper middle class people looking for new home is very less.

Major reasons for shifting 44

Reasons

More Space

Better Location Better 23 Proximity to workplace 4 facilities 28 Lack of recreation 3

Healthy environment 10 Own house

Increase in living status 12 Investment

Quality construction 10 Others

No. Of people25 Reasons Lack of Facilities (prev.resd.) No. Of people 6

24

Findings:

45

 One of the most important things found out in the survey was that the one of the major reasons to buy the house was the investment. This reason was not that important in case of Gurgaon. This goes on to show that houses in Noida are very reasonable. Need for better facilities was tick marked by maximum number of people as a reason for buying the property. This again proves the fact that people buying property in Noida are generally from middle class who earlier used to live in less popular colonies of Delhi which are deprived of essential facilities like water, power and safety. Another major reason for buying the property in Noida is Need for more space. Generally people earlier living in joint families or newly married couples prefer buying property in Noida as they are affordable. Only 1 out of 50 respondents have said that own house was the main reason to buy the property, which is around 2 % of the total respondents. This goes on to show that people dont generally buy property in Noida for living purpose. Another important point to notice is that in Noida proximity to workplace reason is insignificant. Its probably because virtually non-existence of BPO companies in Noida.

GHAZIABAD

Perception of people about the cities of NCR 46

City name Gurgaon Noida

Location 3 12

Business Opportunity 7 11 1 5 1

Education hub 7 11 0 6 1

Quality of livingInfrastructural 9 11 0 5 0 Development 5 10 8 2 0

Law and Order 8 10 4 1 2

Greater Noida 1 Ghaziabad 1Faridabad 9 0

Findings: 1. Respondents from Ghaziabad have chosen Noida as the best location in the entire

47

NCR. As many as 12 out of 25 respondents have marked favorably for Noida which is around 50 % of the total respondents. This clearly goes to show that Ghaziabad respondents have good image of Noida as far as location is concerned. 2. In all other parameters there is a clash between Noida and Gurgaon but Noida seems to lead in every parameter. 3. In business opportunity Noida have again been favoured while rest Gurgaon and Ghaziabad have almost same image in the mind of Ghaziabad respondents. 4. In case of quality of living both Noida and Gurgaon have been marked by many as number 1. Styles of living in other three places do not have enjoy good reputation in the mind of the Ghaziabad respondents. 5. In case of law and order Ghaziabad and Faridabad are clear losers. This fact has been observed in all the three cities. 6. In Infrastructure Greater Noida enjoys good reputation.

First pull to choose the Housing Complex

Brand Name 1

Advertisements 2

Location 10

Affordability 13

48

Findings: 1. In Ghaziabad affordability is the main reason for the people buying property out

there. The occupied Housing complexes of Ghaziabad are pretty old and very reasonable. Developments in Ghaziabad started much before it started in Gurgaon and Noida. So at that time prices were low. Now with the massive development of Noida, Gurgaon as well as of Indirapuram price of property have increased like anything. 2. Location is the second most important factor which makes people buy property in

Ghaziabad. Ghaziabad is located close to Noida as well as Delhi. Moreover Indirapuram, the real upcoming area is its neighbour. Moreover Ghaziabads Development took place years ago so it already has lots of facilities available. 3. Advertisements and brand name did compel few to buy the property in Ghaziabad

but still they were not so important factors.

49

Major reasons for shifting

Reasons

More Space

Better Location

Better facilities

Healthy environment

Increase in living status

Quality construction

No. of People Reasons

9 Lack of facilities

9 15 Proximity workplace 3 4

7 Lack of to recreation 2

3 Own house

4 Investment

5 Others

No. of People

10

m ajor reas for s on hifting

16 14 12 10 8 6 4 2 0

50

Findings: Though Ghaziabad respondents have rated Affordability as the major reason for

buying the property in Ghaziabad but if we exclude affordability as a factor we find that location too was a very important factor as we can see in this chart. 15 out of 25 Respondents have marked location as a reason for buying the property i.e. more than 50 % of the total respondents. The desire to have an own house is a major reason to buy a property, in Ghaziabad

too. This proves the reliability of the previous chart which shows that the major reason to buy a property in Ghaziabad is affordability. Third most important reason for buying property in Ghaziabad is requirement of

more space. Proximity to workplace and investment are almost insignificant.

51

RECOMMENDATION 1. As Earth infrastructure does not enjoys good brand name and do not have a battalion of brand loyal customers it should make sure that the maintenance of its occupied housing complexes is taking place in the best possible manner . 2. Due to stiff competition in the market Earth Infrastructure should focus on the Quality of homes provided and shall also try its best to meet different kind of requirement of different buyers. 3. Due to the current oversupply situation in the market Earth Infrastructure should resist from increasing price of its property. 4. Earth Infrastructure should help and lure the prospective buyers by helping them in getting housing loans. It shall collaborate with some popular banks for this purpose. These days even banks are more than willing to provide home loans. 5. Earth Infrastructure should provide the right amount of greenery in its housing complexes, as pollution free environment is a very important factor that people consider while purchasing the property. 6. Gurgaon, Noida and Greater Noida are the places where Earth Infrastructure should come up with new projects as they have been marked favorably by the all respondents. Respondents do not have good image of Faridabad and Ghaziabad while Indira puram is yet to prove its worth. 7. Advertisement for selling property in Gurgaon can be Why drive for 45 minutes to your workplace every day, take a flat in Gurgaon today. As proximity to workplace is the major reason for people buying flats in Gurgaon. Whereas for Noida and Greater Noida advertisement can be like Fed up of paying rent.

52

CONCLUSION 1. The major external factors which people consider while purchasing the property are Price, Availability of loan, resale value, interest rate, and Proximity to workplace and hospital /schools, clear title of property. 2. The major In-Locality factors which people consider while purchasing the property are Quality of construction, safety, occupancy, suitability. Maintainence cost. Availability of water and Pollution-free environment 3. Perception of people about different cities of NCR Location wise Gurgaon and Noida are adjudged the best by the respondents Business opportunity wise Gurgaon due to the mass presence of BPO company and

offices of MNCs and Noida due to its proximity to Delhi are consider good by the majority of respondents. In Quality of living again Gurgaon and Noida leads the pack but out of the two

Gurgaon is better due to the existence of Higher and upper-middle class people in large number. In Law and Order all the places are bad as per the respondents but out of the five

Gurgaon is the best. As far as infrastructural development is concerned Greater Noida enjoys good

reputation among the respondents of all the three cities. 4. In totality, both Location as well as Affordability together account for more than 80 % of the total responses. 5. In Gurgaon major reasons other than affordability and location, to purchase the property were proximity to workplace and healthy environment. 6. In Noida and Ghaziabad other major reasons were investment and having a own house as well as need for better facilities.

BIBLIOGRAPHY 53

Referred Books: Kothari C.R.- Research Methodology New Delhi Tata McGraw Hill In (95-102) Singh HarpreetResearch Methodology-Kalyani Publishers.(page no. 1-8, 68-102) Richard Reed and Anthony Mills, Identifying the drivers behind housing Preferences of first-time owners, Property Management, Vol.25, No. 3, 2007, pp 225241. India Today Buyers Guide November 2006 Edition International Research Journal of Finance and Economics ISSN 1450-2887 Issue 24 (2009) pp 242-254 Euro Journals Publishing, Inc. 2009 The times of India Delhi Jan 28 2011 sec times property, page no. -66

WEBSITES

ncr/

http://www.indianground.com/real_estate_india.aspx http://www.ibef.org/industry/realestate.aspx http://indiarealestatemonitor.com/property-news/real-estate-prices-hover-in-delhi-

www.gurgaonproperties.net www.realestatencr.com www.gurgaonrealestate.com www.estatedeveloper.com

54

APPENDICS

Questionnaire
Name __________________________________________________________ Below 3lac Rental Yes No 3-5 lac 5-8 lac above 8lacs

Household income per annum Self owned Property

If rental, have you invested in some other housing complex? Duration of stay __________ No. of Cars Owned _______

Size of the family ________________________ Type of cars Low Medium luxury.

1. What factor was the first pull to choose this housing complex? Brand name of developer Location Attractive and frequent advertisements Affordability

2. To what extent do the following factors influence your choice of housing complex? Not at all Brand image Price range Property dealers Connectivity to public transport Experts on property related shows on TV. Proximity to workplace Availability of loan Easy/flexible payment Rate of interest Resale value Proximity to school/hospital Proximity to entertainment sector Clear title of property Very large extent

55

3. To what extents do the following in locality factors influence your choice of housing complexNot at all Peaceful locality Pollution free environment Population/ occupancy Quality of construction Maintenance/ maintenance cost Suitability of home type Club membership Car parking Safety/security Power backup Water availability Utilization of space Very large extent

4. Your previous residence was a (mention if a rental Developer housing complex

yes

No

) Society flats others.

Independent housing complex

5. Specify the previous residence mentioned above - __________________________________. 6. What were the reasons to shift from previous Residence? Need for more space Need for better location Need for better facilities want for quality construction

Need for healthy environment

Increase in living status lack of recreation

Lack of water and power (in prev. Locality) others____________________

7. Are you planning to sell your current property (move out in case of rental) 8. The property is self-owned Rental

yes

No

9. What type of property are you shifting into-? Developer Housing complex Independent house Society flat others.

56

10. Where are you planning to shift Gurgaon Noida Greater Noida Ghaziabad Faridabad Delhi others

11. What are the following reasons to shift from Residence? Need for more space Need for better location Need for better facilities want for quality construction

Need for healthy environment Lack of water and power

Increase in living status lack of recreation

others. _____________________________

12. Rank the cities on the following parameters-(1-5) Gurgaon Location (Proximity to Delhi) Business hub Education hub Quality of living Infrastructural development Law and order Noida Greater noida Ghaziabad Faridabad

12. If you sell this property what will be the expected returnsLoss No returns Low returns Medium returns High returns

(All information will be kept confidential. the above data collected is for the market study only-) Place- _________________ Housing Complex ________________________

Developers________________ price ______________ type of flat _______________

57