Real Estate Jaipur

8/3/2019 Real Estate Jaipur

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A REPORT

ON

“ Empirical Study of Real Estate market in Jaipur ”

At

Submitted in the partial fulfilment of the requirement

for

MBA DEGREE COURSE OF CHRIST UNIVERSITY

By:

Abhishek Lamba

08PG0301

Under the guidance of :

Corporate guide

Faculty guide

Mr.Deepak Sharma

Prof. Ashwini Srinivasan

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G.M.( Marketing), ARG Group

Faculty ,CUIM

DECLARATION

I hereby declare that the project study titled “Study of Real

Estate market in Jaipur ” is my original work carried out during

the period from 14th April 2009 to 31st May 2009 under the

guidance of Professor Ashwini Srinivasan ,

Faculty Member, Christ University Institute of Management,

Bangalore and Mr. Deepak Sharma, G.M. Marketing, ARG Group.

I also declare that this project has not been submitted nor shall it

be submitted in future to any other University or Institution for the

award of any other Degree or diploma.

Place : Abhishek

Lamba

Dated : 08PG0301

CUIM

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ACKNOWLEDGEMENT

I would like to express my sincere gratitude toward everyone who

has been part of this project, specially the Team of ARG Group in

Jaipur, where I studied for the research.

I would like to thank Mr. Deepak Sharma G.M. , Marketing ARG

Group for introducing me to the world of Real Estate and

property in particular to this project. He has been a mentor in true

sense and constant source of inspiration. The help and guidance

provided by him was of great value to me.

The guidance and support provided by my mentor Professor

Ashwini Srinivasan Faculty, CUIM has been

immaculate and words would not be sufficient to thank him for

the help rendered by him from time to time.

I would also like to sincerely thank my parents, who were there

with me throughout this project, providing all the much needed

support.

I would also like to thank all those who have given their time and

energy to supply all the valuable information and facts that

helped to make this report fruitful.

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Finally, I would like to extend my sincere thanks to all the

respondents who patiently gave their valuable inputs, providing

the grounds for the successful completion of the project.

Table of Contents

Chapter No.

Particulars

Declaration

Acknowledgement

1 Design of study

2 Real estate in India

2.1 The Indian scene

2.2 The recession mode

2.3 Indian Real Estate Ready to roar

again

2.4 Road ahead

3 Real Estate in Jaipur

3.1 Overview

3.2 Current Scenario

4 ARG

4.1 The Group

4.2 The Projects

5 The Project and analysis

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5.1 Ajmer Road

5.2 ARG Puram

5.3 Malls research

6 Conclusions

Annexure

Bibliography

CHAPTER - 1

DESIGN OF THE STUDY

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Need for the study:

One of the greatest needs of managers of business is to understand

and develop marketing programs for their products and services. Business

success is based on the ability to build a growing body of satisfied

customers. Modern marketing programs are built around the "marketing

concept," which directs managers to focus their efforts on identifying and

satisfying customer needs - at a profit.

Marketing continues to be a mystery . . . to those who create it and to

those who sponsor it. The mystery eludes solution but demands attention.

Marketing results can be improved through a better understanding of

customers. Putting the customer first is probably the most popular strategy

to achieve desired excellence in business. Marketing is the human activity

directed at satisfying human needs and wants through an exchange process.

Any marketing program has a better chance of being productive if it is

timed, designed and written to solve a problem for potential customers and

is carried out in a way that the customer understands and trusts. To achieve

strategic excellence a business has to develop market driven performance

by looking into its competencies and comparing them with the requirements

of the environmental opportunities and apply relevant strategies.

This study intends to study the products provided by ARG Group and

understands the customer’s perception and preferences for few upcoming

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projects. This study also intends to precisely understand interest,

preference, attitude and Customers in Jaipur and to understand problems

and to do an environment scanning at malls(both commercial & Shopping)

However an in depth conclusion cannot be drawn as a consumer mind is ever

changing with a change in economy.

Objectives of the study:

The study is an attempt to study consumer perception,

preferences, & outlook. Other than that environment scanning at malls and

ARG’s upcoming project. Therefore, the present study is conducted with the

following objectives:

• To do an Environment scanning at Ajmer road near the Mahindra SEZ

for its upcoming project ARG Exotica(Residential flats)

• To find out target customer and to find out customer overview,

preferences & choices for housing.

• To do an analysis of Malls at Jaipur (Shopping & Commercial). Which

includes information seeking about different aspects of Malls.

• To find out Brand awareness of ARG & its products in Jaipur.• To preach ARG Puram (upcoming Township) in target customers and to

find out their overview and feedback about the Project

Methodology:

The information required for the study was collected through

• Primary Data

• Secondary Data

Primary Data:

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It is obtained from the discussion with the Sales manager, Marketing

executives and Customers. The questionnaire was prepared keeping view to

determine the customer’s perception towards different projects and

products.

Secondary Data:

The study began with an extensive literature survey in order to get a

thorough understanding of marketing strategies. Sources like newspapers,

journals, booklets, company reports and internet is used.

Sample selection:

After evaluating all the sampling techniques available, we selected

convenience sampling method for the study.

Sample size:

Different studies had different sample size:

1) EXOTICA 150

2) ARG Puram 100

3) Mall 10 malls(shopping) 10 malls(commercial)

Scope of the study:

This study is to be conducted in order to understand and predict the

customer perception towards upcoming projects and developments. Also

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with this we are expected to know more about malls and problems being

faced by vendors at malls.

Along with it we are expected to know

Limitations of the study:

1. Due to constraints of time and cost involved in the study area was

restricted to Jaipur only.

2. The study is directly concerned with study of human preference and

behavior and achieving absolute mathematical accuracy towards

this is impossible.

3. Difficulty in tracing the target customer to be surveyed.

4. The findings of this project are limited due to lack of time.

5. Non-availability of information regarding confidential matters.6. The authenticity of data given solely depends upon the

trustworthiness of the Customers

7. Due to time constraint, a detailed study was not possible.

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CHAPTER - 2REAL ESTATE IN INDIA

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(2.1)The Indian Scene

The property market has seen a 360 degrees turn since the 90s. Purchasinga house to the common man before 1994 was undreamable. The taxstructure and the cost of property was exorbitant. People preferred to live inrented homes than purchase a house.

But the property market began to float from its drowning position after 1995. This was due to the increase in incomes that allowed people to go ahead andpurchase a home. To trigger it further cheap home loans were madeavailable. Competition from peer banks led to offer lower interest rates.While nationalized and co-operative banks offered the lowest interest rates.

In the beginning in Mumbai people were reluctant to purchase a home insuburban areas. But with improvement in infrastructure of Navi -Mumbai,new expressways in the suburban areas people are now moving out to thesuburbs. Moreover every suburb is getting self-sufficient making suburbs aneven mover viable option.

However although the Indian property market seems to be gaining strengthsupported by hiking stock prices Mumbai city is losing importance over theother better rated cities like Delhi, Bangalore and Hyderabad. This is due toexcess congestion and lack of urban renovations.

The Indian real estate sector plays a significant role in the country'seconomy. The real estate sector is second only to agriculture in terms of employment generation and contributes heavily towards the gross domesticproduct (GDP). Almost five per cent of the country's GDP is contributed to bythe housing sector. In the next five years, this contribution to the GDP isexpected to rise to 6 per cent. According to industry players, housingaccounts for 4.5 per cent of gross domestic product (GDP) with urbanhousing accounting for 3.13 per cent.

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According to Jones Lang LaSalle CEO, Colin Dyer, faster economic growth inBrazil, Russia, India and China (BRIC) could result in the property markets of those nations recovering at a faster rate than the UK and US real estatemarkets. It has also been suggested that India's property sector could beginto improve from late 2009 and may attract up to US$ 12.11 billion in real

estate investment over a five-year period.

Moreover, the real estate sector is also responsible for the development of over 250 ancillary industries such as cement, steel, paints etc. A study byrating agency ICRA shows that the construction industry ranks 3rd amongthe 14 major sectors in terms of direct, indirect and induced effects in allsectors of the economy. A unit increase in expenditure in this sector has amultiplier effect and the capacity to generate income as high as five times.

(2.2)The Indian Real Estate Sector in Recessionmode

THE development of real estate in India is attributed to the off-shoring andoutsourcing businesses, such as high-end technology consultation, callcentres and programming houses. The demand from the informationtechnology sector has changed the urban landscape. Several multinationalcompanies (MNCs) continue to move their organizational operations to Indiato take advantage of lower manpower and other costs. Providing humanresources and home at their workplace assumes great significance and

therefore, the requirement to create space for people to live and work that inturn, causes the development of other related infrastructure. It has been apredominant trend to set up the world’s best business centres, oftencampus-style establishments bearing a distinguishing corporate stamp.Some of these locations are so distinctive that they are termed as the’temples of new India’. It is just an indication of the extent to which thedevelopment of real estate has been taking place.

The real estate market in India remains unorganised, fairly fragmented,mostly characterised by small players with a local presence. Traditionally,real estate developers were viewed with an element of skepticism. They

were often identified dealing with large amounts of unaccounted money,lacking transparency and would use unscrupulous mean to acquire a varietyof regulatory approvals. The tremendous growth of the real estate sector is attributed to variousfundamental factors such as growing economy, growing business needs etc.However, this boom is restricted to areas such as commercial office space,retail and housing sectors. The impending concerns of this sector namelyskill shortage, non-availability of statistics, lack of low cost-affordable

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housing, lack of sustainability and to meet a future that might havedownturn due to oversupply. The industry is presently facing a major resource crunch – an obvious lack of qualified and skilled people from construction firms etc. Coupled with thismanpower shortage is the shortage of availability of relevant statistics,

which has created an ambiguity as to how much construction activity isactually taking place and one can’t gauge the demand and supply trendsaccurately.

The opportunities and issues of affordable, low cost housing in India aremainly related with tremendous shortfall of middle class housing as majorityof the developers are involved in developing high class housing. So, there isa dearth of low cost affordable units. The negative version of Indian realestate industry is ’they have complete disrespect for sustainability’ and thatthe concept of green buildings, proper waste disposal methods and thelongevity of the product are often dismissed.

Presently, the impact of recession in US economy has caused mammothimpact on Indian real estate market as well, as it is witnessing the recession. Till now, the real estate industry was a booming industry, which were in pacewith information technology (IT) industry. Accordingly, the demand for ITspace and commercial spaces has been grown. Also, the high net worth of individual investors has created a very fast pace of demand in Indian realestate sector, which has a very high impact image of investing in India.As the money was coming in terms on investment in from non-residentIndians as well as private equity funds, the well-known developers and realestate players have grown their portfolio as well many small sized players

have also created in Indian market. It has provided a very high supply of realestate segments either in residential or in commercial or in office space.Special economic zone (SEZ) has also creates a very good opportunities forinvestors as well as corporate to invest and get benefited from Indian realestate market. So, the booming market has created a niche as modern livingand created a very mass employment in Indian segment. The recent changes, which happened in American market such asbankruptcy of Lehman Brother (one of the oldest financial firms of Americanmarket) and sell process of PE firm Merryl Lynch by the largest US bank,Bank of America, has created a very fast drops/recession in financial industryand created a crisis in all over US economy. Both of these firms were

invested their more part of funds into real estate sector without having theproper analysing or effect. They also have given the funds for mortgageindustry of US, which is currently facing the hurdle of sub prime lending andhave affected many players to bankruptcy.All of these changes in the US economy have affected Indian economy aswell as real estate segment as most of the Indian players have their liquidityfunded by both of these firms. The IT segment, which was mainly funded bythe PE firms or have their export to US markets have noticed very sharp drop

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of net worth of their firms. This recession also affected the Sensex, which isbullish and brings down the net worth of the leader of Indian real estateplayer very low. The impact can be shown in share price of DLF, Unitech,GMR group, Reliance Group, Wipro, Satyam etc groups. All of these suddenchanges in Indian and US market created a point of thinking to investors and

individuals that where it will go and what will be the best option in realestate investment. The market rates in India are also dropped by 10 to 30per cent in most of prominent as well as upcoming cities and the trendappears to be still continuing, till it recovers from the ill effects of financialcrisis.

(2.3)The Indian Real Estate Ready to Roaragain

Investors and analysts have begun re-rating the realty sector on optimismthat the worst may be over, as the efforts of recent months and a stableglobal environment will help developers attract funds and boost earnings.Developers in the past year have restructured debt, sold non-core assets andtweaked product mix, helping to push up sales. This has encouragedinvestors to buy stocks of real estate companies and motivate analysts torevise price targets and upgrade the outlook on the sector. “The stabilisationin the international market improved financials arising out of restructuring of loans and enhanced liquidity from banks have resulted in revision in theoutlook for the sector,”

The real estate players are better placed now than what they were two-threequarters before.”

Reflecting the positive sentiment, the Bombay Stock Exchange Realty Indexrose 58 per cent in the past month, outpacing the benchmark Sensitiveindex’s gain of 27 per cent. Stocks of Unitech, DLF, Indiabulls Real Estate andHDIL have jumped 65 per cent, 41 per cent , 54 per cent and 146 per cent,respectively. The turning point seems to have been the successful qualifiedinstitutional placement (QIP) of Unitech on April 16, at a time when very fewcompanies dared to enter the market. The country’s second-biggest

developer raised Rs 1,625 crore from the sale at Rs 38.50 apiece. The stockis now trading at Rs 71.25 on the Bombay Stock Exchange. The renewedfaith of overseas investors stems from the series of steps taken bydevelopers to improve their financial position. Unitech has cut debt by Rs2,000 crore while DLF, the country’s biggest developer, has repaid Rs 1,700crore of loans in the past year. The two companies together have alsorestructured as much as Rs 4,100 crore worth of loans with commercialbanks and mutual funds, avoiding short-term payment pressures.

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Even commercial banks, which were hesitant to lend to developers, appearto be loosening a bit. According to Reserve Bank of India data, loans to realestate companies grew 61.4 per cent for the 11-month period endingFebruary 2009, as compared to 26.7 per cent growth in the correspondingperiod last fiscal. Home loan disbursements by the country’s top lenders,

which signal the actual demand for homes, is also improving. HDFC, thecountry’s largest home loan lender, saw its disbursals going up by 17.5 percent in the fourth quarter of FY09, at Rs 12,400 crore. While LIC Housing sawan increase of 42 per cent and 22 per cent in March and Q4 numbers,respectively.A general softening of interest rates has also helped developersto cut their borrowing costs by as much as 300 basis points. Some of thedevelopers’ average borrowing cost had risen to an astronomical 17 percent.

Developers have also tweaked their product mix to improve cash flows. Aglobal economic slowdown had halted sale of homes, offices and shops in the

past year, creating a severe liquidity crunch for developers, who had reliedon excessive debt to expand operations. Real estate is nothing else butmanaging cash flows, the exuberant demand for real estate in the bull-runhad swayed developers into offering expensive products, for which there wasno demand as the economy contracted.

To rectify the situation, developers have cut prices by as much as 40 percent in key markets and also launched a series of residential projects, whichwere in the so-called affordable category. The change in strategy had asuitable impact. DLF, which launched its new housing project in Gurgaon/Noida, sold out almost 85 per cent of its residential units on offer in

the first two days of sale. Unitech has sold out almost 2,100 homes in thepast two months. Overseas investors watched these developments with keeninterest and lapped up stocks of realtors when they entered the market toraise funds. After the success of Unitech’s QIP issue, which was subscribedmore than two times, DLF increased shares it had put up for sale by 68 percent after it got a strong response from institutional investors. Similarly,Indiabulls Real Estate’s $553 million QIP issues was subscribed by only threeoverseas funds, including HSBC, Texas Pacific Group and Fidelity.

Analysts are now becoming more bullish. Many of them have begun re-ratingthe stocks of real estate companies which have cut debt and infused liquidity

in the company either through asset sales or share sales to investors.International brokerage Credit Suisse has changed its rating on Unitech to‘outperform’ from ‘underperform’, with a revised price target of Rs 80,compared to Rs 26 earlier. Another brokerage, Alchemy, has also revised theprice target of Unitech to Rs 80 from Rs 25 it set in December lastyear.Stocks were beaten down sharply due to negative sentiments in themarket due to fall in realty prices and volumes.

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http://www.indianrealtynews.com/category/real-estate-india/gurgaon/






Analysts are now watching the new year with optimism .Unlike in the pastyear, survival of developers is no longer an issue in the immediate future. The focus has now shifted to earnings growth,. Adding to the positivesentiment was the return of the Congress-led United Progressive Alliance topower, which meant greater stability at the Centre and positive long-term

policy measures. “A stable government at the centre with a decisivemandate would encourage more FDI/FII/ domestic investments in real estate.Continuation of policy measures should also lead to increased buyerconfidence triggering a recovery in demand in the second half of FY10,’’international brokerage Credit Suisse said in a recent report.

The stability factor had a partial rub-off on the Indiabulls Real Estate QIPissue. The sale concluded in a day and some existing investors such asFidelity and HSBC increased their stake in the company. Taking advantage of the upsurge in the market, some investors such as Fidelity and JP Morgan,who had bought into the sector at higher levels, began partially liquidating

their holdings. The FII sold Rs.125 crore worth of shares in Indiabulls RealEstate. But a section of FIIs, who are bullish on the India, warn against themove. “The temptation of investors to sell shares in the rally is a mistake. The dramatic re-rating of the Indian market is set to continue

(2.4)The Road Ahead

• DLF subsidiary firm, DLF Assets is trying to raise over US$ 492.67million in a venture with Texas Pacific Group and Mumbai-basedinvestment firm JM Financial.

• Hyderabad-based BSCPL infrastructure has announced the launch of its

first residential project off Old Mahabalipuram Road (OMR). Thecompany claimed that it has completed the structure for six hundredthousand sq ft. The US$ 394.27 million project is to come up on 92acres and touted as one of the largest integrated residential townshipprojects in the city. Mr Varma said BSCPL has an equity base of US$88.46 million. The company has tied up US$ 15.77 million debt fromIDBI apart from investing a sum of US$ 4.92 million.

• The Maharashtra government recently cleared a guideline that willopen up a huge business opportunity for redevelopment in South andCentral Mumbai, which are considered to be amongst the mostexpensive real estate markets in Asia. The government approved theprocess of re-development of about 16,000 cessed buildings in southand central Mumbai and also allowed private developers to redevelopproperties with a size of 43,000 sq ft in joint ventures with Mhada, ortenants/owners. This implies that developers, including OrbitCorporation, Housing Development and Infrastructure, Akruti City, LokHousing and Unity Infra Projects, can now join hands with the state's

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housing authority, or their tenants and owners, to develop theproperties.

• Morgan Stanley is close to raising US$ 6 billion for a new globalproperty fund dedicated to Asia Pacific, including India, in 2009.

• UK-based investment firm Eredene Capital Plc is raising its second

infrastructure fund with a total corpus of US$ 400 million to invest inlow-risk Indian projects. According to Nikhil Naik, Chairman, EredeneInfrastructure, the fund will be dedicated to ports, container freightstations, warehousing, distribution and some real estate businesses inIndia.

• Property firm, Sunil Mantri Realty Ltd plans to raise at least US$ 196.67million from private equity, or PE, funds this year as it seeks to enternew markets and develop part of its 1,500- acre land bank.

• With falling real estate values in the US and the downturn in Indianproperty market making local valuations more attractive, real estatefund Millennium Spire — part of the UK-based Millennium Group — is

looking to invest US$ 300 million into realty projects in India in thenext 12–18 months.

• Morgan Stanley Real Estate is planning to invest an additional US$ 1billion over the next five years. The company had earlier investedabout US$ 750 million in India.

• A unit of Deutsche Bank aims to invest more than US$ 1 billion overthree years in Indian construction and real estate projects.

• Dawnay Day International, a London-headquartered group with grossassets to the tune of US$ 4 billion, is setting up a chain of four-starhotels in India, starting with one in Jaipur.

• India Land Ventures (ILVL), a part of the Madrid-headquartered

Americorp Group, will invest US$ 585.48 million in eight infrastructureprojects across the country over the next two years.

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CHAPTER - 3

REAL ESTATE IN

JAIPUR

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(3.1)Overview

Jaipur, the bustling capital of Rajasthan, is a major international anddomestic tourist destination. Widely known as the ‘Pink City’, Jaipur is fasttransforming into a cosmopolitan city. Over the last 15 years, Jaipur hasundergone major economic reforms. Economic growth has led to expansionof urban space in the region. With increasing disposable incomes andchanging socio-economic environment, suburban and peripheral locations

have become the focus of development.Old Jaipur, also known as the WalledCity, houses traditional markets like Bapu Bazaar and Chand Pole.

MI Road is the prime office and retail location of Jaipur and has severalmultistoried commercial complexes. Old city locations of RamchandraChaukari, Gangapol Chaukari and Jaleb Chowk are no longer preferred forresidential purpose as they are quite congested and have become more of commercial locations. Bani Park, Raja Park, Malviya Nagar, Jawahar Nagarand Nirman Nagar are the high-end residential locations and arecharacterised by the availability of plots and apartments. Some land parcelsare still available in the Walled City and developers are actively seeking

these for development. Upcoming IT projects and SEZs are expected totrigger off further development in the city as commercial and residentialdemand is likely to pick up with the increase in economic activity.

(3.2)Current Scenario

Till late, office space in Jaipur was confined to multistoried commercialcomplexes on MI Road and the locations in the vicinity. Due to the increasein demand for Grade-A office space, new developments are coming up in

Bani Park, JN Marg, Ashok Marg, Ahinsa Circle and on Tonk Road. Corporateslike Tata AIG, Genpact, HSBC, GAIL, Reliance Infocom, Yes Bank andStandard Chartered have their offices in the city.With a number of IT parks coming up on Delhi Road, Sitapur Road, Tonk Roadand Vaishali Nagar, these peripheral locations are emerging as preferred ITdestinations of the region.Residential demand has moved from the Walled City to locations like AshokNagar, C-Scheme and Lal Kothi. Vidhyadhar Nagar, Vaishali Nagar and

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Mansarovar are the upcoming residential locations on the outer fringes of city. New residential projects like Omaxe City, Sushant Lok, ParsvnathNarayan City, Amarpali and Vatika are coming along Ajmer Road, Tonk Roadand Kalwar Road. As with the other smaller cities of the country, Jaipur is alsowitnessing a retail boom. A number of malls in variable retail formats have

come up around the city. Gaurav Tower and Savitri Towers in Malviya Nagar,Cityplex on Tonk road, Silver Square and Mall 21 are some of the existingmalls in the city. At present, a number of retail projects, including City Mallon Ashok Marg, Crystal Palm and MGF on Bhawani Road and Golcha TradeCenter on MI Road are under construction in the city.Recently, a number of national level developers have entered the Jaipur realestate market and this has led to increased competition for the localdevelopers.

CHAPTER - 4

ARG

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(4.1)The Group

The group was established in 1989 with their first project ‘Apollo Apartment’

and since then successive projects continued with greater achievements in

the era of Building Developers.

Under the leadership of Mr. Atma Ram Gupta , a global visionary , ARG Group

is a renowned name in the business . It has provided the citizens of Jaipur

numerous residential and commercial complexes of finest quality and also

established itself successfully in other parts of India. Their creations have

received huge appreciation and recognition from the fraternity of investors,

buyers and retailers. The Governer of Rajasthan has awarded this group the

first ISO 9001:2000 certification in the Builders and Developers segment.

Shri Atma Ram Gupta, a Chartered and Cost Accountant, is the backbone of

the ARG Group. His dedication for the Group has given the amazing heightsto ARG Group and wide acceptance amongst the Buyers, Retailers, &Investors. Shri Atma Ram Gupta is associated with Lions Club, Rotary Club,President of Rajasthan Swasthya Yog Parishad Trust, Jaipur, Akhil BhartiyaVaishya Sammelan, Senior Vice President of Federation of Rajasthan Tradeand Industries, and so on.

The Group was established in 1989 with their first project “Apollo Apartment”and since then successive projects continued with greater achievements inthe era of Building Developers.

Dedication of the Group towards the citizens:

ARG Group has been constantly trying to serve the citizens of Jaipur, by wayof providing housing and commercial spaces for their commercial activitiesat the best and cheapest prices, and with modern amenities.

Since then it is endeavor of the Group to provide modern and moderateresidential apartments for cozy and comfort living for their

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buyers/customers. We give due thoughts and weightage for choice of ourcustomers while choosing the location for every project.

Services and Facilities

Project after project the ARG Group has upgraded the design, lay out andprovision for amenities and facilities, suitable and commensurate with thechanging lifestyle and on going needs of the customers in their allforthcoming projects.

Stringent quality norms and application of latest techniques, equipments andother accessories and products matching the industry, has madeARGGroupas the first choice of the buyers and investors, not only in Jaipur orRajasthan but all over India. Even some of the lovers of the ARG Group arefrom Dubai and other neighboring countries.

Working with the world class Architects, Structural Designers, Interiors, andService Consultants, for their projects again has driven the group towards anew height.

Providing opportunities to Investors:

With the blessings of God, our investors has gained astoundingly highreturns, which could be possible only due to selection of right location, rightarchitectural concepts, right construction, right cost and over and above

giving possession at right time without any cost escalation.

(4.2)The Projects

• Corporate park

Corporate park will be a distinctive landmark drawing shoppers from all of

the jaipur . the complex would cater the new generation of uncompromising

consumer who9 demands quality and chooses the finest among the crowd.

An ideal retreat for every shopper, corporate park will feature enticing mix of renowned retailers , offering an extensive variety of quality merchandise,

ranging from automobiles to lifestyle products , clothes , fashion ,

accessories and electronics.

To unwind and rejuvenate after unmitigated shopping there will be a coffee

lounge drawing all types of consumers invariably.

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Located in Gopalbari , on Ajmer Road , Corporate park falls within 1 km

radius of jaipur railway station and bus stand making it a very prime and

commercially viable location.

• The metro

The growing desires of people in jaipur, relish endless shopping makes The

Metro mall an ideal destination for them . the unmatched location makes

this building the most desirable corporate address of the city. The aura and

ambience combined with the liveliness and comfort backed by efficient

infrastructure and systems offers a mystical and lavish experience of

shopping . the beautifully designed building combines an impressive

exterior with posh interior s, making it aesthetically appealing to the

discerning eye. The shopping area is spread across the ground floor to the

fourth floor. Stunning and stylish, The Metro will be the only kinetic building

in northern India till date.

• North Avenue

Comprising of 11 floors. Showrooms and offices ranging from 300 sq.ft. to

10,000 sq.ft. Magnificent elevation with glass façade . Separate entry for

hotel of 100 Rooms roads on three sides of the building . Ample car parkingspace spreads in 2 basements. Passenger and service lifts. Escalators joining

all retail floors. Exclusive flooring with designer vitrified tiles in common

areas. Well appointed public utilities.

• ARG Exotica

1 BHK, 2BHK &3BHK apartments situated on 200 ft. wide Jaisinghpura road.

natural surroundings , club houses, Exclusive children play area lush green

landscaped garden , Water cascades and jogging track , Swimming pool,

Gymnasium, Health club , Well organized stilt parking, Earthquake resistantstructure , 24Hrs security with intercom network , Passenger and service lifts

, Elegantly designed lobby, Elegant exterior finish

• City Mall ,kota

Being the first mall in kota for the generation next, the city mall be the

Mecca of entertainment and recreation , where fun , food and frolic will

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coexist under the same roof, together with the enriching shopping

experience . The four story construction of the mall will cover a build-up area

of around 3,00000 sq.ft . Well established with stunning interior design and

dazzling decoration. The ground, first and second floor will covered by Big

Bazaar ,McDonalds and variety of showrooms, while the third and fourth will

be comprise of four screen multiplex by Fun Cinema which will

complemented with restaurant amusement corners and food corners and

food court. With brands like Levi’s, Woodland, Nike, Liliput, Royal Sporting

House and the likes, it would be a designation every on\e would prefer.

• City mall , Gwalior

The City Mall with it’s ultra modern architecture and stylish setting of of

extensively landscaped greens will be identified as Gwalior’s new 21st

century landmark. Designed to be earthquake resistance structure with

bigger span pillars the City Mall will create a felling of solidity while retaining

elegance. Provisions for rainwater harvesting, a waterfall and foundation will

also add to the City Mall’s distinctive Eco-friendly appeal.

The City Mall will be coming up on the city’s most important thoroughfare,

100ft. Maharani Laxmi Bai Road, next to the Gwalior Fort, right opposite lush

green Phool Bagh and Zoo. With 40”wide Naugaza road at the back, the City

Mall will offer congestion-free access from all sides.

Within 1KM radius of the Mall you’ll find the railway station, the bus terminal,

Civil Lines, the main market, the palace, the museum and the Taj Group’sUsha Kiran Palace Hotel. The Catchments area of the City Mall will cover a

target population of 1.5 million making it investor-friendly location

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CHAPTER - 5

THE PROJECT AND

ANALYSIS

25



(5.1)Ajmer Road

This is one of the areas in Jaipur which is going under very fast

development . Many a companies are coming up with projects near Ajmer

Road and the areas near by . Ajmer road is a national Highway , i.e. N.H. 11.

ARG Group is also coming up with a project near this area called ARG EXOTICA.

ARG EXOTICA : ARG EXOTICA are the International standard Residential

apartments which are planned on 200 ft. Jaisinghpura road at Ajmer Road(N.H.-11) . These apartments are expected to have all the modern facilities

and amenities like Club House, Exclusive Children’s play area , Jogging

track , Swimming pool , Gymnasium , Health Club Etc.

These were the few things expected to do under this assignment:

26



1) To find out the developments happening/ taking place on the Ajmer

Road and near by surroundings.

2) To find out the potential competitors at the Exotica.

3) To do an environmental scanning for competitors and find out theirstate , distances , prices , conditions , approach etc.

4) To find out the present attractions and future developments planned at

that place which persuades people to buy property at that place.

5) To find out target customers.

6) To find out their choices and preferences, pocket size etc.

7) And to provide a final verdict about the investment made.

After doing the environmental scanning and taking an overview at the

Jaisinghpura and nearby areas of Ajmer road, i.e. places within 5 km radius

of the ARG Exotica I came up with certain observations.

Upcoming and present projects at Ajmer road and nearby places

that could be persuaders for people to buy property at Exotica or

any near by project at Ajmer road.

1) Mahindra World City (SEZ)

2) DPS

3) Sanskrit Vishva Vidhalaya

4) Kanchan Kaseri Resort

5) Pink pearl Water park

6) Vatika Infocity

7) 9RA resorts

8) MIlange Mall

9) Ring Road

27



Upcoming projects at Ajmer road Jaisinghpura and nearby places,

which could be the probable competitors:

1) Hanging Gardens (Anukampa Buildhome Pvt. Ltd.)

2) Metropolis (SDC)

3) My Liberty Homes (Amay Home Services Pvt. Ltd.)

4) Desire (Mahima Group)

5) My Liberty Kingdom

6) Melange Jewels(Majestic Properties Pvt. Ltd.)

7) Progressive Heights

8) Symphony , Harmony (Unique Dream Builders)

9) My Haveli (Unique Builders)

10) Jaipur Greens (Emaar MGF)

Locations and distances of these projects from Ajmer road:

1) Hanging Gardens (Anukampa Buildhome Pvt. Ltd.)

Jaisinghpura Road,1.7 kms from Ajmer Road

2) Metropolis (SDC)


3) My Liberty Homes (Amay Home Services Pvt. Ltd.)

Jaisinghpura Road, 3.5 kms from Ajmer Road

4) Desire (Mahima Group)


5) My Liberty Kingdom

Jaisinghpura Road,5 kms from Ajmer Road

6) Melange Jewels(Majestic Properties Pvt. Ltd.)

28



Main Ajmer Road, In front of DPS

7) Symphony , Harmony (Unique Dream Builders)

Main Ajmer Road

8) My Haveli (Unique Builders)

Ajmer Road , 2 kms from Mahapura road

9) Jaipur Greens (Emaar MGF)

Mahapura road,5 kms from Ajmer Road, 2 kms from SEZ

Rates and time of completion of main projects other than EXOTICA

at Jaisinghpura, Ajmer Road and nearby places:

1) Hanging Gardens (Anukampa BuildhomePvt, Ltd.)

Rs1650/sq.ft

October2010(FewFlatesare readyforpossession)

2) Metropolis (SDC) Rs1650/sq.ft

October2010

3) My Liberty Homes (Amay Home Services

Pvt. Ltd.)4) Desire (Mahima Group) Rs.1350/sq

.ft January2011

5) My Liberty Kingdom6) Melange Jewels(Majestic Properties Pvt.

Ltd.)Rs.2100/sq.ft

May2011

7) Progressive Heights Rs .1650/sq.ft

8) Symphony , Harmony (Unique DreamBuilders)

9) My Haveli (Unique Builders) 10.2 lacs-28 lacs

May20112 years

10) Jaipur Greens (Emaar MGF) Rs3000/sq.yard

11) Omaxe, Vatika Rs.5500/sq.

Fewready for

29



yard possession

Who would be the probable customers for EXOTICA:

1) People who would be employed at Mahindra World City, SEZ.

2) People who are interested in investing and hope that development is

on the verge for this part of the city.

3) People who are retired and want to live in a place which is far off from

the noise and pollution of city.

4) People who want to live in group housing and are comfortable with the

concept.

5) People who want the amenities being promised by the building firms

but cannot afford such facilities in interior parts of city.

After getting the idea that main target audience who would probably be the

customer for the development taking place at Ajmer road we did a survey at

the people who are already working at Mahindra SEZ(employees of In and

Dueche Bank) to get an idea about what their outlook, choices andpreferences be and to know a good investing medium/place.

30



31



32



33



34



35



Analysis:

1) 30% people have been working for their respective co. (Infosys) for

less than 6 months . Only 18% people have been there in the company

for more than 2 years. It means that most of the people are new in job

and most of them are freshers.

2) 46% people have been in Jaipur for less than 6 months. Only 18% have

been living in Jaipur for more than 2 years. People do not belong to

Jaipur

3) Most of them i.e. 86% travel by cab and want to live within 15 kms of

their work place. That means that right no constraint is there to live at

or near Ajmer road.

4) Although more than 70% people are interested in constructions goingon Ajmer road but less than 40% of them are interested in owning

them, more are interested in renting the property. This is because they

can neither afford to go for it nor they want to go for such a big

investment.

5) About 65% of people are in age slab of 25-35 and about 60% of people

fall in income slab of 10000-20000.It means that most of the people

are young professionals and are new in their jobs so probability is less

of going for a house.

6) Most of the people have molecular families of 4 or less people so

probability of buying those people a new house is very less.

Other than this the research was also concentrated on finding out the

choices/preferences of the customers when it comes to a home/house. It

mainly concentrated on two main things :

1) Choices and preferences customers have for physical attributes of a

house.

2) Choices and preferences of customers when it comes to Psychographicswhich are related to house/home.

The best way to go about doing that would be a Factor Analysis. We picked

17 factors for physical attributes and 11 factors for Psychographics.

FACTOR Analysis (Preferences for Physical attributes)

36



KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of SamplingAdequacy. .672

Bartlett's Test of Sphericity

Approx. Chi-Square 1298.256

Df 136Sig. .000

• Bartlett's Test of Sphericity having a value of .672(more than .6) shows

that samples taken by us holds good and will fetch good results.

• Chi square value of 1298.256 , degree of freedom 136 and

significance of 0.00

Component Number

1716151413121110987654321

E i g e n v a l u e

6

5

4

3

2

1

0

Scree Plot

• The scree plot is a plot of the eigen values against the no of factors in the order of extraction.

• The scree plot is elbow shaped which shows that the analysis holds good.

37



Rotated Component Matrix(a)

Component

The livingspace

visibilities

The livingspace

components

Demographics of the

house LegalityLivingneeds

Distances&

Access

Size of the house .625Vastu specifiedconstruction

.544 .494

Ample parking space .743

Size/no. of bathrooms .899

Choice of flooring .445 .735

Big/airy balconies .525 .471

Size/type of kitchen .749

Choice of floor .846

Choice of house .645 .525

Location of property/house

.875

Distance from the place

of work.755 .442

Approach of the place .839

Approval from thedevelopement authority

.566 .386

Easy availability of loan .811

Easy availability of transportation

.458 .441 .393

Good market nearby .761

Uninterrupted basicamenities

.822

Extraction Method: Principal Component Analysis.Rotation Method: Varimax with Kaiser Normalization.a Rotation converged in 8 iterations.

• The rotated component matrix shows that from 17 factors it could be

reduced to 6 components which constitute importance for the

customers in a house.

• So the living space visibilities, The living space component,

Demographics of the house, Legality, living needs & distances and

access hold very important to the customers in a house or while

choosing a house.

Component Transformation Matrix

Component 1 2 3 4 5 6

1 .619 .568 .296 .295 .233 .2562 .488 -.417 -.565 .216 .413 -.2263 -.328 -.350 .229 .783 .106 .306

38



4 -.127 -.164 .546 -.265 .707 -.2995 -.455 .420 -.487 -.061 .512 .3376 .219 -.422 .070 -.424 .052 .766

Extraction Method: Principal Component Analysis.Rotation Method: Varimax with Kaiser Normalization.

• The diagonal values shows the and helps to determine to select

the factor in which investment should me made.

• It also shows how does investing in one factors effects the another

factor.

• Investing in component one(1) would negatively effect components 3,4

& 5.

FACTOR Analysis (Preferences for Psychographics)

KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of SamplingAdequacy. .702

Bartlett's Test of Sphericity

Approx. Chi-Square 468.926

Df 55

Sig. .000

• Bartlett's Test of Sphericity having a value of .702(more than .6) shows

that samples taken by us holds good and will fetch good results.

• Chi square value of 468.926 , degree of freedom 55 and significance

of 0.00

39



Component Number

1110987654321

E i g e n v a l u e

4

3

2

1

0

Scree Plot

• The scree plot is a plot of the eigen values against the no of factors in the order of extraction.

• The scree plot is near about elbow shaped which shows that the analysis holds good.

Rotated Component Matrix(a)

Component

Emotionalpsyche

Heart andmind

relativesAdaptabilit

yHigh

sociality

Level of comfort with group

housing .812Feel of comfort .896

Sense of openness .420 .652

Feeling of warmth .841

Reputation of company .786

Feedback of users .714

Attitude of attendents .806

40



Attendents' efforts for providing solutions .747

Emotional attachment withliving place .525 .387

Sorroundings .751

Emotional/mental likeliness

with neibhours .536 -.551

Extraction Method: Principal Component Analysis.Rotation Method: Varimax with Kaiser Normalization.a Rotation converged in 5 iterations.

• The rotated component matrix shows that from 11 factors it could be

reduced to 4 components which constitute importance for the

customers in a house.

• So the living space visibilities, Emotional psyche, Heart and mind

relatives, Adaptability and High sociality hold very important to the

customers in a house or while choosing a house.

(5.2)ARG Puram

Agra Road is another place where a lot of development is expected to

happen in coming years . ARG have a project over there called ARG Puram.

ARG Puram: It is the Township which is being developed at Kanota , Agra

Road . These are the affordable homes which have all the aminities at an

affordable price. As affordable homes are the demand of time. It has facilities

such as Community centre , Commercial shopping centre , medical facilities,

School, Gymnasium, Play ground, temple, games courts(volley ball,

basketball etc.) games room.

41



The whole township is based on Green homes concept. Designs of the

buildings are eco friendly . It saves the water, electricity etc.

These were the few things expected to do under this assignment:

1) To do a customer analysis(customer outlook ,feedback, sales pitch) foralready launched project (ARG PURAM, township).

2) This had to be done at places like Janta colony, Raja Park, Malviya

Nagar, Shastri nagar etc. where target customer is supposed to be.

3) Was expected to cover a sample size of 100 people.

42



43



44



45



46



47



48



49



50



51



52



53



54



Analysis:

1) 68% people are aware about Real Estate and developments taking

place in the city, Hoardings and newspapers still hold the strongest

medium for conversation for the Real Estate co. i.e.45% & 32%

respectively. This shows that people have knowledge about Real Estate

and developments happening in the sector.

2) When asked about to name a construction co. randomly 18% named

ARG. This shows that for 18% people first name which pops up when

talked about Real estate is ARG. This shows that awareness about the

company is high.

3) 90% people were found aware of ARG Group & more than 50% of

people were aware of products of ARG as well. This shows that people

not only know about the company but also about its products.

4) 90% of people were aware of the Project ARG Puram but only 25%

showed interest in investing after they were educated about the

55



project. This shows that people are not very much interested in the

project ARG Puram due to some reasons.

5) Plots and Villas were the main choices for investment, and drinkable

water holds the strongest area of concern for the people. This shows

that people in Jaipur still prefer going for individual property ratherthan flats. Problems of fluoride in the ground water is really huge for

people and think that living in such a place would be a problem.

6) The quoted rates for different choices at ARG Puram are not

supposedly reasonable as told by majority of people. This shows

people are not satisfied with the rates in first place and this would

reduce interest of people in the project.

(5.3)The Mall Research

ARG Group has got many projects which includes Malls as well(Both

Shopping Malls and Commercial Malls. Projects like City Mall (Kota),

Corporate Park (Jaipur), North Avenue (Jaipur), The Metro (Jaipur)etc.

Was expected to do following things under this assignment:

1) Were expected to visit 10 main malls of Jaipur city and to find outcertain details/to conduct a survey (i.e.) Services being provided,satisfaction level of people, problems arising, rates involved etc.

2) To carry out a similar survey for the commercial malls as well.

56



57



58



59



60



61



Analysis :

Shopping Malls

1) Highest footfalls are at GT at weekdays i.e. 2000-3000, while at

weekends it varies from 5000-6000 at GT and 4000-6000 at Triton. GT

seems to be a rocking place through out the week due to its stretegic

situation near colleges. College students constitute major chunk of this

footfall. While Triton attaracts high no. of people at wekend.

2) Rent varies from Rs. 45/sq.ft-rs. 140/sq.ft( Floor and Location wise) at

Crystal mall, which is the highest variation . Although there is not much

difference in the rents of all malls. A small difference lies due todifference of situation of place, footfals, services being provided and

footfalls.

3) Maintenance cost at MGF is Rs. 27/sq.ft.Maintenance cost varies a lot

in all the malls depending upon the type of services being provided .

This is the area of highest and unjustified variations (at times)

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Commercial Malls

1) Footfalls at Ganpati Plaza are 3000-5000 at weekdays and at Apex mall

its 1500-3000 at weekdays while at weekends it comes down to 1000-

2000 in Ganpati Plaza rest are not even closing 1000 mark. This means

that the footfalls ae not comparable due to less functioning or lessamount of business at these malls.

2) Rent varies from Rs.60/sq.ft. to Rs. 120/sq.ft. Rent varies according to

the difference of situation of place, footfals, services being provided

and footfalls

3) Maintenance cost at Sunny mart is Rs. 7/sq.ft. Although the vendors

say that such high maintenance cost is not justified. Other than this all

malls are costing justifiable amount for the maintenance.

CHAPTER - 6

CONCLUSIONS ANDRECOMMENDATIONS

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Conclusions

(ARG Puram)

1) The awareness of the people of Jaipur city about the Real Estate and

the ARG Group is high i.e. 68% and 90% respectively. This means that

people in Jaipur are well aware of Real state business and

developments happening in the field of Real Estate.

2) Most effective advertizing means are Hoardings and newspapers.

People read and believe in newspapers ads and believe in it. So that

would be the most profitable mean of advertising for promotions.

3) About 58% people already own a property in jaipur, it means 48 % still

don’t hane a property so a good no. of people could be potential

64



customres. Many people are interested properties for investment

purpose, so such people are also constitute the buyers.

4) After knowing about the project (ARG Puram) about 55% people were

interested in the project, so that’s a great sign for converting that

interest into sale. People find the project a promising one so if it ispromoted in a proper way would bring good business for the company

is in the pipeline.

5) Most of the people wanted to go for loan so the target market is mostly

middle class people. This means that ARG has been successful in

targeting the segment they wanted to concentrate upon and to

position their product.

6) As ARG is a renowned and trusted name in the Rajasthan Real estate

market so getting customers interested will not be a difficult task. Theywill be able to bank their name.

7) But there are few constraints , people are interested but have doubts

about few things

(i) The water of the Place(Kanota) is very high in Fluoride so people

want an assurance of safe , potable , drinking water.

(ii) People are not sure about how much time it will take for the Project

to take shape. i.e. will the group be able to finish the job in promised

time.

(iii) A good no. of people(25%) are not satisfied with the quoted rates

for flats and villas and believe a slash of about 20-25% would be a

reasonable price for asking.

(iv) People are even not sure about the expected development of the

area so will the approach of the site would improve or not.

(v) People are even not sure about the security at that place. The place

is not considered safe in the evenings and nights.

Recommendations: So, the project seems great with facilities being

promised, but there are few ccp’s which needs to be taken care of.

1) Although people were interested in the project but due to pace of

project people look less interested, so visible development at the

65



site has to be there. I recommend the construction of gate and

boundary wall ASAP.

2) The awareness about the project is a bit less in the target market so

little more concentration on the visible publicity is required.

Especially the hoardings, pamphlets etc. at Raja park, Shastri nagar,Sindhi colony etc. should be distributed that will lead to a better

awareness.

3) A serious effort is needed to make people assure about security,

rates and development at the site. Rates if not be slashed than

could be made more attractive by better payment terms. Hiring of a

security agency is necessary.

4) I suggest a special bus service from Ajmeri gate to the site and vice

versa for customers/potential customers after the building of sample villas and flats(at least four times a week).

5) Including of building of an overhead water tank and water treatment

plant in the plan, which can be done on tender basis by a private co.

and residents could be charged for that.

6) I suggest including of a central gas pipeline in the main plan.

Because that is not included and is considered as a necessary

requirement.

Exotica

1) Development at Ajmer road beholds great possibilities, because of the

present and future projects being done and planned. So huge demand

for property would be there.

2) No doubt looking at the conditions, Mahindra SEZ would be supplying

the highest no. of customers for the project. SEZ is supposed to

generate half a million jobs in next few years so there is need to serveto about 1.5 million people ,so the market is huge.

3) Although competition is also tough with almost all big names in real

estate have their presence and interest in bagging the market, it might

be difficult for the ARG to be heard in crowd but being a local player

would certainly act in favour.

66



4) Here competition is with name and quality of construction. ARG stands

a great reputation to deliver quality the too so is expected to do good

business.

5) Although ARG is a bit behind in construction stage as compared to

others who have started or are even at a stage of providing thepossession .But the pace of the SEZ doesn’t seem alarming to rush

with construction.

6) Customer analysis for Exotica says that most of the customers would

be young professionals (66% people fall in age slab of 25-35 years) out

of which only 18% have been living in Jaipur for more than 2 years so

most of them are migrants.

7) About 62% people want to live within 15 kms of their work but only

34% wants to go for purchasing a property. So this shows thatprobability of selling property is less and there is not even a constraint

of sticking to Ajmer road with the target customers.

8) Although 76% people are interested in living at Ajmer road and nearby

area .But in income slab distribution 20000-30000,30000-40000 slabs

together holds 40% people as compared to 56% of 10000-20000. So

even if people are interested purchasing the property that would be

difficult for them as they cannot afford doing that.

9) So it suggests that presently less no. of people are interested in’

purchasing’ property at the place and the future potential customers

would take time to turn up.

10) The living space

visibilities, Emotional psyche, Heart and mind relatives, Adaptability

and High sociality hold very important to the customers in a house or

while choosing a house.

11) The living space

visibilities, The living space component, Demographics of the house,

Legality, living needs & distances and access hold very important to

the customers in a house or while choosing a house.

12) All of the mentioned

tangible and intangibles are the main reasons a person why a person

does or doesn’t go for a house or a property.

67



Recommendations:

1) Very less visibility due to a series of other products coming at the very

locality/place, so I recommend few milestone sort of small boards indicating

ARG.’s and project’s name.

2) The development spree at Ajmer road is happening at a very high pace but

on considering the already existing competition and considering ARG’s

activities of construction i.e. far behind the immediate competitors it would

not be a wise decision to start full swing construction at the very place for at

least next 6 months to an year. Because the main target market SEZ’s

employees which are existing constitute mostly of young people with a low

end income level. There are just 2 companies which are there in SEZ(its in

developing stage& will take time ) So there is no point in engaging money in

there.

3) The construction should be there so that the investor does not loose the

confidence in the co. but the pace should not too fast to compete with the

competition.

Mall research(Shopping)

1) Triton, Crystal Palm, MGF and GT are the malls with majority of

footfalls.

2) Maintenance cost is highest in MGF and Crystal Palm .

3) Rents vary a lot but are on a higher side at Crystal palm and MGF

4) Maintenance , security , less footfalls , Parking are the main problems

being faced by people .

Mall research(commercial)

1) Ganpati plaza , Apex mall are the malls with highest footfalls.

2) Maintenance cost is more or less the same except the sunny mart.

3) Rents are negotiable and are on similar lines at most of the places.

4) Maintenance, less facilities, parking etc. are the main problems being

faced by the people.

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ANNEXURE

69



70



Ajmer Road:

Questionnaire for SEZ Customers Questionnaire No. _______

Sir/Madam,

I am a student of MBA Ist Year, Christ University, Bangalore. This research project is a part of my

curriculum. This is a general study of Real Estate Industry in Jaipur. I thank you for your co-operation

and assure you complete confidentiality of the information you will so patiently share with me.

1. For how long have you been working in this company?

0-6 months 6-12 months 1-2 years more than 2 years

2. For how long have you been living in Jaipur?

0-6 months

6-12 months

1-2 years

more than 2 years

3. How many members are there in your family (including you)? ___________

4. Where do you live now?

71



_____Jaipur___________________________________________________________________

5. How do you travel from your residence to your workplace and vice versa?

own vehicle cab others (sharing cars etc.)

6. At what distance from your work place would you like to live/stay?

within 5 km within 10 km within 15 km within 20 km

7. Are you willing to purchase property or rent it? Purchase Rent

8. If you wish to purchase how much you can spare for it?

__________200000____________________________________________________________

9. Are you interested in investing in any of the upcoming projects on/nearby Ajmer road? Yes

No

10. What are the basic facilities you need at your residence?

local vegetable market supermarket brand shops

hospital bank school easy connectivity to main road

Choices / preferences of the customer

Please rate the following attribute on the given 1 to 7 scale: (1–least important, 7–most important)

11. Level of comfort with the group housing concept 1 2 3 4 5 6 7

12. The size of house meeting your requirement 1 2 3 4 5 6 7

13.Vastu-specified construction 1 2 3 4 5 6 7

14.Ample parking space (may be reserved) 1 2 3 4 5 6 7

15. The need of sufficient sized , numbered bathrooms 1 2 3 4 5 6 7

16.Choice of flooring of the house (wooden, marble, vitrified

etc.)

1 2 3 4 5 6 7

17. Big airy balconies 1 2 3 4 5 6 7

18.A beautiful kitchen (modular, open etc.) 1 2 3 4 5 6 7

72



19.The choice of floor (ground, first, top etc. 1 2 3 4 5 6 7

20.Choice of type of house (flat, villa, plot etc.) 1 2 3 4 5 6 7

21. Choice of getting house/property at desired place 1 2 3 4 5 6 7

22. Nearness of house from place of work 1 2 3 4 5 6 7

23. Approach of the place where you are living 1 2 3 4 5 6 7

24. Approval of that place from the development authority 1 2 3 4 5 6 7

25. Availability of easy loan on that property 1 2 3 4 5 6 7

26. Easy availability of transportation medium from that 1 2 3 4 5 6 7

27. Good market nearby 1 2 3 4 5 6 7

28.Good/uninterrupted basic amenities supplies (water

,power)

1 2 3 4 5 6 7

Psychographics related to Customer

Please rate the following attributes on the given 1 to 7 scale: (1–least important, 7–most important)

29. The feel of comfort at the place 1 2 3 4 5 6 7

30. The sense of openness 1 2 3 4 5 6 7

31. Feeling of warmth at place 1 2 3 4 5 6 7

32. Reputation of the company 1 2 3 4 5 6 7

33. Feed back of existing users 1 2 3 4 5 6 7

34. Attitude of people attending customers 1 2 3 4 5 6 7

35.Their effort of providing solutions to people’s problems 1 2 3 4 5 6 7

36. Emotional attachment with the place you live in 1 2 3 4 5 6 7

37. The surroundings 1 2 3 4 5 6 7

38.Emotional/mental likeness with neighbours 1 2 3 4 5 6 7

Personal Information

B.1) Marital status: married unmarried widow / widower

divorced

B.2 Monthly Family income (Rs.) B.3 Age B.4. Education

10,000 – 20,000 (1) 25 to 35 (1) Undergraduate (1)

20,000 – 30,000 (2) 35 to 45 (2) Graduate (2)

73



30,000 – 40,000 (3) 45 to 55 (3) Postgraduate (3)

More than 40,000 (4) More than 55 (4)

ARG Puram

74



Questionnaire for Customers

Questionnaire No. _______

Sir/Madam,

This research project is a part of our curriculum. This is a general study of Real

Estate Industry in jaipur. We seek only your general views about service company

and not specific to any particular one. We thank you for your co-operation and

assure you complete confidentiality of the information you will so kindly, sincerely

and patiently share with us.

A.1) Can you remember any ad of a real estate company?

[ ] Yes [ ] No

A.2) Do you remember where did you came across that ad?

______________________________________________________________________________

A.3) Out of the following towards which media you have highest exposure to

[ ]Television [ ] Radio [ ] Newspaper [ ]Magazines

[ ]Internet

A.4) Do you own a property?

[ ] Yes [ ] No

A.5) Do you want to purchase a property?

[ ] Yes [ ] No

A.6 Do you want to go for loan for that property?

[ ] Yes [ ] No

A.7) Have you heard about ARG Group?

[ ] Yes [ ] No

A.8) Do you know about these projects of ARG Group?

• Time Sqare(Vidyadhar nagar)

• Neelkanth (22 godam)

• The metro (Rambagh circle)

75



• Goverdhan Kripa (C-Scheme)

• Corporate park (gopalbadi)

A.9) Have you heard about ARG Puram? (Aided)

[ ] Yes [ ] No

A.10) Would you like to purchase a property over there?

[ ] Yes [ ] No

A.11) What sort of property would you like to go for

[ ] Flat [ ] Villas [ ] Duplex [ ] Plots

A.12) What prices do you expect of the following ?

• One BHK

• Two BHK

• Two BHK(With Parking)

• Three BHK (with Parking)

• Plots /sq. yard

A.13) What facilities other than existing would you like to have at ARG puram?

________________________________________________________________________________

Personal Information

B.1) Name

B.3) Marital status

B.3) No. of people in family

B4. Monthly Familyincome (Rs.)

B5. Age B6. Education B7. Occupation

Less than 10,000 (1) Less than 25

(1)

Secondary (class 10) pass

(1)

Home maker

(1)

10,000 – 20,000 (2) 25 to 35 (2) Higher Secondary (class 12)

pass (2)

Service (2)

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20,000 – 30,000 (3) 35 to 45 (3) Undergraduate (3) Self-employed

(3)

30,000 – 40,000 (4) 45 to 55 (4) Graduate (4) Retired (4)

More than 40,000 (5) More than 55(5)

Postgraduate (5) Student (5)

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BIBLIOGRAPHY

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READINGS AND REFERENCES

• Marketing Management- Philip Kotler

• Indiahousing.com

• www.ibef.org

• www.indiaground.com

• www.arggroup.com

• The Times of India

• Indianrealestateforum.com

• Buzzle.com

• E-broacher (ARG Group)

• Indiapropertymarket.com

• Yahooanswers.com

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Real Estate Jaipur

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