CHAPTER 1
INTRODUCTION-
REAL ESTATE BUSINESS (SALES & MARKETING)
Real estate business is the profession of buying, selling, or renting real estate
(land, buildings, or housing). Real estate is the land along with any permanent
improvements attached to the land,whether natural or man-made including
water, trees, minerals, buildings',- homes,fences, and bridges. Real estate is a
form of real property. It differs from personalproperty, which are things not
permanently attached to the land, such as vehicles, boatsjewelry, furniture, and
farm equipment. Real estate is a class of "real property" that includes land and
anythingpermanently attached to it, whether natural or man-made.
• There are five main categories of real estate: residential, commercial,
industrial,raw land, and special use.
• You can invest in real estate directly by purchasing a home, rental property
orother property, or indirectly through a real estate investment trust
(REIT).
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Physical Characteristics of Real Estate
• Land has three physical characteristics that differentiate it from other assets in the economy:
• Immobility. While some parts of land are removable and the topography can bealtered, the
geographic location of any parcel of land can never be changed.
• Indestructibility. Land is durable and indestructible (permanent).
• Uniqueness. No two parcels of land can be exactly the same. Even though theymay share
similarities, every parcel differs geographically.
Economic Characteristics of Real Estate
• Land also has some distinct economic characteristics that influence its value as
aninvestment:
• Scarcity: While land isn't considered rare, the total supply is fixed.
• Improvements: Any additions or changes to the land or a building that affects theproperty's
value is called an improvement. Improvements of a private nature(such as homes and fences)
are referred to as improvements on the land.Improvements of a public nature (e.g., sidewalks
and sewer systems) are calledimprovements to the land.
• Permanence of investment: Once land is improved, the total capital and laborused to build
the improvement represent a sizable fixed investment. Even thougha building can be razed,
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improvements like drainage, electricity, water, and sewersystems tend to be permanent
because they can't be removed (or replaced)economically.
. Location or area preference. Location refers to people's choices and
tastesregarding a given area, based on factors like convenience, reputation, and
history.Location is one of the most important economic characteristics of land
(thus thesaying,
"location, location, location!").
Types of Real Estate
There are five main types of real estate:
1. Residential real estate: Any property used for residential purposes.
Examplesinclude single-family homes, condos, cooperatives, duplexes, townhouses,
andmultifamily residences with fewer than five individual units.
2. Commercial real estate: Any property used exclusively for business purposes,such
as apartment complexes, gas stations, grocery stores, hospitals, hotels,offices,
parking facilities, restaurants, shopping centers, stores, and theaters.
3. Industrial real estate: Any property used for manufacturing,
production,distribution, storage, and research and development. Examples include
factories,power plants, and warehouses.
4. Land: Includes undeveloped property, vacant land, and agricultural land
(farms,orchards, ranches, and timberland).
5. Special purpose: Property used by the public, such as cemeteries,
govemmentbuildings, libraries, parks, places of worship, and schools.
How the Real Estate Industry Works
Despite the magnitude and complexity of the real estate Market, many people tend tothink the
industry consists merely of brokers and salespeople. However, millions ofpeople in fact earn a
living through real estate, not only in sales but also in appraisals,property
management,financing, construction, development, counseling, education, andseveral other
fields.Many professionals and businesses including accountants, architects, banks,
titleinsurance companies, surveyors, and lawyers also depend on the real estate industry.
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Examples of Real Estate
Now that we have outlined the four main categories, let’s explore some specific
examples of different types of real property.
• Single-family dwelling- Any home designed for only one family
• Multi-family dwelling- Any group of homes designed for more than one family
• Attached - Any unit that’s connected to another (not freestanding)
• Apartment -An individual unit in a multi-unit building. The boundaries of
• Apartment are generally defined by a perimeter of locked or lockable doors.
Oftenseen in multi-story apartment buildings.
• Multi-family house- Often seen in multi-story detached buildings, where
eachfloor is a separate apartment or unit.
• Condominium (Condo) - A building with individual units owned by
individualpeople.
• Detached house A free-standing building not connecting to anything else (a
• Portable house- Houses that can be moved on a flatbed truck.
• Mobile home- A vehicle on wheels that has a permanent residence a ttached to it
• Villa- A building With only one room and typically a steep pointy roof
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• Hutt- A dwelling typically made of raw materials such as bamboo, mud, and
clay
•
Overview of Real Estate Industry
The realestate industry cah be divided into several different areas:
> Development
> Sales and marketing
> Brokerage
> Property management
> Lending
> Professional services (law, accounting, etc.)
CONSUMER BEHAVIOUR IN REAL ESTATE INDUSTRY
The real estate industry is one of several industries that have seen drastic shifts in
consumer behavior. From how people are searching for homes to what they expect from
their real estate agents and brokers, buyer, seller, and agent behavior have all been
impacted by the pandemic. And, it’s looking like some trends are here to stay, at least for
the foreseeable future. In order to continue to adapt to changing trends and get the most
out of your digital marketing strategy for real estate, it’s essential to understand your
consumers and their current priorities. Read on to learn more about some of the most
important consumer trends to come out of the COVID-19 era and what to do about them.
Top Consumer Behavior Trends for Real Estate in 2021
1. Interest in companies with a defined purpose
2. The value of an elevated customer experience
3. Relationships are everything
4. Rapid response is'key
5. Increased demand for hyperlocal
6. Trust is essential
7. Spending has revved up
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Interest in companies with a defined purpose
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Interest in companies with a defined purpose
People have begun taking notice of companies that have a clearly defined purpose. These
companies have a true grasp on why they exist and who they’re meant to serve. When your
actions are driven by a shared purpose, there’s a clear connection between your identity and
your commitment to everyone involved with it — which includes customers, employees, and
communities. For example, some real estate companies prioritize dealing with green homes
and sustainable buildings. For those seeking a greener lifestyle, they’ll want to work with a
company that shares the same values as them.
The value of an elevated' customer experience
Today, customers are comparing you not only to their previous best real estate customer
experiences, but to their best customer experiences in general. Customers expect their
agents and brokers to reduce friction in their home buying and selling process. This
includes being available via a variety of communication methods, including phone and text,
utilizing virtual capabilities, and helping them navigate a challenging market by
anticipating what’s next. Furthermore, customers also expect a high level of
personalization, to see how your purpose is integrated into everything you do, and that you
skillfully leverage your online strategies and tools on their behalf.
Relationships are everything
Intertwined with consumers wanting an elevated customer experience is that consumers
also want to establish good relationships with the brands they currently work with or with
whom'they’re considering working. Because people want tailored experiences, diving into
your analytics is key to prioritizing your customer’s needs - not only for those who are
already your customers, but also for prospects and people qualitative data, which means
both talking to people about their needs and gathering anecdotes, and also analyzing how
they’re actually behaving, such as via the email links they actually click, listings they look
at, etc. Showing you understand your customers will go a long way to strengthen your
relationship with them, and also turn leads into actual clients.’ Even more so now, because
the meaning of home has changed — homes are a'place to work, replace or augment prior
travel and leisure
experiences, and at times, completely disconnect and relax — people want to have a good
rapport with someone who truly understands them and will help them achievetheir goals
Rapid response is key
Equally important, consumers now expect faster response times —40% of consumers
expect brands to respond within the first hour of reaching out on social media. This
means developing a highly effective real estate digital marketing
strategy and incorporating different element into business such yours tours, videos,
live streamings, online chat, the ability to manage and access customer information via
mobile, and contactless closings, to name a few examples. For real estate professionals,
this also means constantly evaluating and re-evaluating your customers' ability to
engage and interact with you online. Keep in mind that your audiences engage with
ybu in different ways and have different preferences, even down to the social media'
platforms they use. Because each audience is different, just like every real estate
company is different; your experience with them should be tailored accordingly.
Increase demand for hyper local
As more people are utilizing online tools to research their potential home,
community, and agent, they’re also seeking an immersive experience into what it’s
truly like to live there and work with a specific company. Buyers - and sometimes
sellers - want insight into what features and attractions the neighborhood and
surrounding areas offer like places to eat, entertainment, attractions, factors
influencing home values, and more. Developing hyperlocal content can position
you as an expert in your area and gain the trust of prospective and current clients
(more on trust below). Keep in mind that hyperlocal may truly mean having a
neighborhood, community, development, or even street-level focus, especially
depending on the area you serve. It’s also essential for your potential customers,
and search engines, to see you as an expert in a few hyperlocal areas first before
extending your authority elsewhere , as that save you timt and money down the
road.
Trust is essentual
The pandemic put a spotlight on the relationship between companies and trust with their
consumers. Now, your reputation is partially defined by what you promise (helping someone
find their dream home or sell their home fast, as two examples) and what actually happens
(their experience working with you and whether their goal is achieved). When the gap
between promises made and what’s delivered widens, you lose their trust, which is
especially important in such a highly emotional transaction and given th& internet’s broad
reach. If you treat customers right, they’ll tell others.
Spending has revved up
Because of the large market imbalance that’s come to a point during the pandemic, fueled by
supply chain disruptions and a shortage of inventory, people are spending more on homes.
Buyers ,are paying more for lower-priced homes to ensure they secure a house and avoid a
bidding war. Also, with the largest home-buying group in the market - Millennial - competition
has ramped up. The requirements for what people want in a home have also changed, as have
sellers’ requirements for listing. Many buyers are willing to spend more to
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find all the amenities they want in one place, like communal gardens, laundry services,
and even co-working spaces in many cases. Furthermore, investments in vacation
homes have also grown because of the pandemic. Vacation homes serve as a means of
safe travel for people wanting to go somewhere, while also offering more space and
privacy from others.
While we’re still observing all of the trends that arise due to the pandemic, what we know so
far is that our world will be forever impacted. In order to stay on top of the latest trends and
stay ahead, having a deep understanding of your consumer and the right balance of digital
strategies is key. Also helpful is knowing what to prioritize and relentlessly pursuing
CHAPTER 2
COMPANY PROFILE
Overview
Max Infra Ventures Pvt/ Ltd. is a well-recognized name in Lucknow's
real estate business, started its operations in late 2017. It has grown
exponentially setting benchmark for quality standard innovating in
style and technology that captured the attention of its judicious
customers. Max Infra Ventures is not only delivering quality projects
and but also providing a better quality of life and environment to its
customers. Company's motto is simple - "Excellent customer care with
highest customer satisfaction."
The company has made a constant pledge to deliver the highest levels of
professionalism, social and moral responsibility to its customer
enduring them with lavish comforts and a gracious living.
Since inception company's reputation is built on benchmark quality
standards, uncompromising business ethics, customer centric
approach, robust development and above all transparency in all
spheres of business. Today the company is engaged in numerous
residential and commercial projects of repute in the capital of Uttar
Pradesh, that is Lucknow and is planning to expand its horizon into
NCR.
Company's vision is to make the world a better place to live in, to
transform and uplift the quality
of living and life style of each and every individual and to contribute
significantly into the development of real estate.
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Company's Mission is to make itself a world-class real-estate company with the highest
standards of professionalism, ethics, quality and customer service. Company is
committed to deliver thevalue for money.
Level up your live! Invest with Max Infra Ventures.
Mission of Company
Company's Mission is to Create itself as the leading marketing leaders in the industry
and differentiate that what real estate word actually stands for....! Company is devoted
to make itself a world-class real-estate company with the highest standards of
professionalism, ethics, quality and customer service and is committed to deliver the
value for money.
Vision of Company
Company's vision is to make the world a better place to live in, to transform and
uplift the quality of living and life style of each and every individual and to
contribute significantly into the development of real estate....! Level up your live!
Invest with Max Infra Ventures!
Brand
Achieving the ultimate satisfaction of our customers & clients through the beautiful
and magnificent development of elegant commercial, residential, and retail spaces !
Since inception company's reputation is built on benchmark quality standards,
uncompromising business ethics, customer centric approach, robust development and
above all transparency in all spheres of business.
Today the company is engaged in numerous residential and commercial projects of
repute in the capital of Uttar Pradesh, that is Lucknow and is planning to expand its
horizon into NCR.
Who We Are
Built on the cornerstones of knowledge, efficient management & transparency; Max
Infra Ventures is well pbised to contribute to the development of Lucknow's Real
Estate…..
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Max Infra Ventures is not only delivering quality projects and but also providing better
quality of life and environment to its customers. Company's motto is simple -
"Excellent customer care with highest customer satisfaction."
What We Do
Max Infra Ventures develops residential and commercial spaces with unique style and
modem technology.'. We are well-equipped to develop townships of your
choice ... ! Since inception company's reputation is built on benchmark quality
standards, uncompromising business ethics, customer centric approach, robust
development and above all transparency in all spheres of business. Today the company
is engaged in numerous residential and commercial projects of repute in the capital of
Uttar Pradesh, that is Lucknow and is planning to expand its horizon into NCR.
Our Strategy
Max Infra Ventures strategy is to find new ways to entice clients and to effectively
retain clients in the long run and to be the business leader in the industry.
the company has made a constant pledge to deliver the highest levels of professionalism,
social and moral responsibility to its customer enduring them with lavish comforts
and a gracious living.
PRODUCTS OF MAX INFRA JANNA TEA WADHGANJ
Poised to become the face of modem, revitalized Lucknow, Max Infra Ventureslaunched its
project 'Jannat-e-Awadh Ganj' on Lucknow Faizabad Highway.
With theexceptional landscape, Project Max Jannat-e-Awadh Ganj symbolizes Lucknow's
RealEstate Success.
Uplifting the Life Style!
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Max Infra Ventures offers its consumers, a wide choice of residential, commercial andretail
space in its prime project 'Jannat-e-Awadh Ganj'.
> A modem townshjp with Damar Road and Park!
> A clear visibility through Solar Street Lights throughout the night! > A
well designed Community Centre!
> Commercial Spaces with modem architecture and design !
> Well established School &Hospital!
ANNAM ESTATE
About Project Anam Estate
Poised to become the face of modem, revitalized Lucknow, Max Infra Ventureslaunched its
project 'Anam Estate' in Deva Road Lucknow. With the exceptionallandscape, Project
Max Anam Estate symbolizes Lucknow's Real Estate Success.Max Infra Ventures offers
its consumers, a wide choice of residential, commercial andretail space in its prime
project 'Anam Estate'.
Project Details
Project Max Anam Estate consists of plots in all three phases acquiring good no. of areato
plots and commercial space.
Preferred Location Charges (PLC)
> 40 Fit and above will be 5%
> Comer 5% x
> Park Facing 5% •
> Commercial Facing 5%
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ROLEX ESTATE (Tower One) and ROLEX ESTATE (Tower Two) are available forsale at
Kamta Crossing, Faizabad Road, Hazratganj, Lucknow.
The apartment offers you an unparalleled living experience with all expected amenitieslike
24x7 up to power back, Lift, Gym, Security, etc.
Total floors G+10,2 BHK flats Details, 1 Unit @ 3rd floor, Size 1182 sqft and 1327 sq ft. \
ROLEX ESTATE (Tower One) Details!
3 BHK flats Details, Available @ 4th,5th,7th,8th Floors, Size 1850 sqft..
ROLEX ESTATE (Tower Two) Details!
2 BHK flats Details, 4 Unit @ every floor, Size 1200 sqft.
Shalimar Mannat
2 BHK & 3 BHK are available for sale at Shalimar Mannat, Faizabad Road,
Lucknow.The apartment offers you an unparalleled living experience with all
expected amenitieslike 24x7 up to power back, Lift, Gym, Security, etc. Shalimar
Mannat Details! 2 BHK Flats Size 990 sq ft.
Modem architecture and design! Shalimar Mannat Details!
3 BHK flats Details ; _
Size 1250 sq ft..Faizabad Road, Lucknow.
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Miracle Homes Faizabad
Road, Lucknow.
Miracle Homes Details!;
The apartment offers you an unparalleled living experience with all expected
amenities like 24x7 up to power back, Lift, Gym, Security, etc.
2 BHK flats Details Size 850 sq ft
3 BHK flats Details Size 990 sq ft
Available @ Ground, 1st,2nd,3rd Floors
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CHAPTER 3
REASEARCH MEHODOLOGY
OBJECTIVE OF PROJECT
The main objective of the'project is “
To know about consumer behavior of customer, when he purchase any real
state product.
> Before purchasing what comes his mind.
> After purchasing what he thinks.
> During the process of purchase what he will thinks
From the different Methodology for Research, 1 have decided to go with descriptive research
and all my data 1 will take from primary data.
Research Design:
Research design is the framework of research methods and techniques chosen by a researcher.
The design allows researchers to hone in on research methods that are suitable for the
subject n\atter and set up their studies up for success.The design of a research topic
explains the type of research
I. Experimental, II.
Survey,
III. Correlation,
IV. Semi-experimental,
V. Review Sub-type -
a. Experimental design,
b. Research problem,
c. Descriptive case-study. As per my topic,
It is a descriptive type of research and also the study is based on data collected from survey.
Data Collection
Data collection is defined as the procedure of collecting, measuring and analyzing accurate
insights for research using standard validated techniques. A researcher can evaluate their
hypothesis on the basis of collected data. In most cases, data collection is the primary and
most important step for research, irrespective of the field of research. The approach Of data
collection is different for different fields of study, depending on the required Information.
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• Data Collection Methods:
• Essentially there are four choices for data collection –
•
• Interviews,
• Mail,
• Phone and
• Online.
Interviews
One to one interaction, best way to communicating, convincing is easy to individual customer
Cons: Time consuming, expensive and can be dismissed as anecdotal Mail Surveys
Pros: Can reach anyone and everyone - no barrier Cons: Expensive, data collection errors, lag
time Phone Surveys -
Pros: High degree of confidence in the data collected, reach almost anyone Cons: Expensive,
cannot self-administer, need to hire an agency Web/Online Surveys
Pros: Cheap, can self-administer, very low probability of data errors Cons: Not all your
customers might have an email address/be on the internet, Customers may be wary of
divulging information online.
Data is generally two types:
1) Primary Data 2) Secondary data
In this project report I have used both type of data, But Primary data have a higher part or ratio of total
data collected
Sampling Techniques
Organizations use Personal interaction surveys as a quantitative research method for determining what
people think and how they behave. The total survey involved as direct interaction with the'customer.
During whole survey we have got a list of possible users as well as we depend upon the cold calling
means unknown customers.
Unknown Customers are divided in two parts.
1) Those who have some information about real estate.
2) Those who don’t have any information about real estate.
Survey Techniques:
1. Developing a Sampling Strategy (Who do you want to survey? How will you
identify them and get contact information? How will you organize the survey
population?)
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2. Developing a Questionnaire (What information do you need to find out? What is
the best way of asking questions in order to get the information that you need?)
3. Conducting the warm and cold calling
4. Entering the Data (In order to be analyzed quantitatively, you will need to enter
your data into computer storage so that statistical software can utilize it.)
5. Analyzing the Data (Making sense of the findings.)
Sample Size
My sample size is 100
I have prepared one Questionnaire and try to understand the requirement of customer
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CHAPTER 4
CONCLUDING OBSERVATION
Findings
1. Most of buyer are Lower middle- income group.
2. The availability of basic requirements is must.
3. Pricing of flat is a major decision maker.
4. Interest Rates of home loan have big impact on purchase of property.
5. Most of customers are purchasing only for investment so they need to purchase on
lower rate and lower interest.
6. The most of customer of lucknow was positive on increase of real estate sector.
7. Most of customers are expecting that real estate pricing may be stable at this time.
CONCLUSION
8. The present situation of market is no favorable to real estate sector as due to
Corona the earnings of common man is affected and main buyer is from this
segment. So with the patient if company work as it is working before this, after
corona future of this sector is very high. ’
9. But after Corona the positivity of buyers are increasing. If the RBI reduces the
interest rates on home loans, the big boom can back in the real estate.
10. The mind set of customers are changing, they want to buy a property, which they
can use with the completion of purchase process. So the time is to understand the
real estate companies that they .have to complete the projects in time bound segment.
11. This study also helps the company to make flats according to that segment,
which has large numbers of buyers.
Recommendations
a) Most of customers are thinking that price and interest rate must be stable, as part of
company they must try to negotiate this problem.
b) In the environment of real estate industry positivity is still live, so need to make sure
that this positivity can help company to increase their sales.
c) Company must have pricing of their projects around SO lakhs, because most of
customers come from this segment only.
d) To provide all facilities in their projects, Max Infra can become most powerful
company, in real estate industry in Lucknow
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. REFERENCES
Books (
> Kothari. C.R (2004): Research Methodology Methods & Techniques’, New Age
International Publishers, New Delhi, 2nd Edition.
> Principles of Marketing -Philip Kotler & Kevin keller edition 12
> Market Research - D.D. Sharma -
> Research Methodology - C.R. Kothari
Websites
1. www.academia.edu.com
2. www.maxinfraventures.com
3. www.realtek-download.com
4. www.bayut.com
5. www.ibef.org
6. www.corporatefinanceinstitute.com
7. www.maxinfraventures.com
8. www.propertywala.com
9. www.property.mitula.in
10. www.thebalancesmb.com
11. www.bartleby.com
12. www.slideshare.net
13. www.unece.ore.com
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ANNEXURE
QUESTIONNAIRE
Ql. Arc you looking for home?
a) YES
b) NO Q2. Would you like to buy a home on Main Road?
a) Yes
b) No
Q3. Which type of home do you want to buy?
a) Villa
b) Flats
c) Row House
Q4. Why do you want to purchase a property?
a) Lower price of real estate
b) Increase in your income
c) reduction of home loan rates
d) Good opportunity to invest property in Lucknow
Q5. What is purpose of your buying of property?
a) Investment *.
b) Self use
c) Rent it out
Q6. What is your budget for property purchase?
a) Upto 25 lakhs
b) 25 lakhs to 50 lakhs
c) 50 lakhs to 1 cr
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d) Above 1 cr
Q7. Do you want home loan facility from Company?
a) Yes ;
b) No
Q8. Do you want that company provide you insurance of house facility? a)
Yes
b) No
Q9. Is nearby residential prices going to increasing?
a) Yes
b) No
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Q10. What are your Views for Indian real estate?
a) Positive
b) Negative
c) Can’t say
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