1

INTRODUCTION
2
INTRODUCTION
An Introduction to the Study
The Indian real estate sector has witnessed a revolution, driven by the booming economy,
favorable demographics and liberalized foreign direct investment (FDI) regime. rowing
at a scorching, !" per cent the realty sector is estimated to be worth #$% &" billion and
anticipated to grow at the rate of !' per cent annually over the ne(t decade, attracting
foreign investments worth #$% !' billion, with a number of IT par)s and residential
townships being constructed across*India.
The second largest employing sector in India (including construction and facilities
management), real estate is lin)ed to about +"' ancillary industries li)e cement, bric) and
steel through bac)ward and forward lin)ages. ,onse-uently, a unit increase in
e(penditure in this sector has a multiplier effect and the capacity to generate income as
high as five times.
All Round development: .ising income levels of a growing middle class along with
increase in nuclear families, low interest rates, modern attitudes to home ownership (the
average age of a new home owner in +''/ was !+ years compared with 0" years a decade
ago) and a change of attitude amongst the young wor)ing population from that of 1save
and buy1 to 1buy and repay1 have all combined to boost real state demand. 2ccording to
1.eal state $)yline of India +''3*'41, a study by research firm, Indices 2nalytics, there
will be demand for over +0.! million new dwellings for self*living in urban India alone
by +'&". ,onse-uently, this segment is li)ely to throw huge investment opportunities. In
fact, an estimated #$% +" billion investment will be re-uired over the ne(t five years in
urban housing, says a report by 5errill 6ynch.
$imultaneously, the rapid growth of the Indian economy has had a cascading effect on
demand for commercial property to help meet the needs of business, such as modern
offices, warehouses, hotels and retail shopping centers. rowth in commercial office
space re-uirement is led by the burgeoning outsourcing and information technology (IT)
industry and organized retail. For e(ample, IT and IT7$ alone is estimated to re-uire &"'
3
million s-ft across urban India by +'&'. $imilarly, the organized retail industry is li)ely
to re-uire an additional ++' million s-ft by +'&'.
Going Global: $imultaneously, many Indian realtors are ma)ing a name for themselves
in the international mar)et through significant investments in foreign mar)ets.
8rudential .eal 7state Investors has ac-uired .ound 9ill ,apital 8artners
:abushi)i :aisha, a ;apanese asset management firm.
7mbassy roup has in)ed a deal with the $erbian government to construct a #$%
/'' million IT par) in $erbia.
8arsvnath Developers has tied up with the 2l*9asan roup in <man.
8uravan)ara roup is doing a pro=ect in $ri 6an)a * a high*end residential
comple(, comprising &'' villas.
The 9iranandanis are constructing "''' "*star hotel rooms, which will come up
between 2bu Dhabi and Dubai.
2nsals 28I tied up with 5alaysia1s #75 roup to form a =oint venture company,
2nsal 28I*#75 ,ontracts 8vt 6td, which plans to bid for government pro=ects in
5alaysia.
:ol)ata1s $outh ,ity 8ro=ects is wor)ing on two pro=ects in Dubai.
Government Initiative: The overnment has introduced many progressive reform
measures to unloc) the potential of the sector and also meet increasing demand levels.
&'' per cent FDI allowed in realty pro=ects through the automatic route.
In case of integrated townships, the minimum area to be developed has been
brought down to +" acres from &'' acres.
#rban 6and (,eiling and .egulation) 2ct, &>3/ (#6,.2) repealed by
increasingly larger number of states.
7nactment of $pecial 7conomic ?ones 2ct.
4
5inimum capital investment for wholly*owned subsidiaries and =oint ventures
stands at #$% &' million and #$% " million, respectively.
Full repatriation of original investment after three years.
"& per cent FDI allowed in single brand retail outlets and &'' per cent in cash and
carry through the automatic route.
Road Ahead: @ith the economy surging ahead, the demand for all segments of the real
estate sector is li)ely to continue to grow. The Indian real estate industry is li)ely to grow
from #$% &+ billion in +''" to #$% >' billion in by +'&".
iven the boom in residential housing, IT, organized retail and hospitality industries, this
industry is li)ely to see increased investment activity. Foreign direct investment alone
might see a close to si(*fold =ump to #$% !' billion over the ne(t &' years.

Real etate indutry in India
Overview
2ll immovable properties including land, structures on it and all other natural resources
can be classified as real estate. .ealtors, builders, bro)ers, buyers and sellers are the
ma=or players of the real estate industry. 2ll types of residential, commercial and
industrial properties fall under its domain. @ith its huge growth potential it has emerged
as a ma=or field of business in recent time.
The real estate sector in India is flourishing rapidly with a growth rate of !' percent each
year. 2bout 4' percent of the real estate development in India has been in the field of
residential housing. The remaining +' percent of the real estate includes office, shopping
malls, entertainment centers, hotels, multiple(es and hospitals. IndiaAs booming
outsourcing business industry and consumption*led growth are contributing significantly
to its real estate growth. The outsourcing business houses including call centers, technical
consultancy services, medical transcription units and programming houses constituted
around &' million s-uare feet of real estate growth in India till +''!. In last couple of
5
years the share of commercial sector in the overall real estate growth has been more
prominent.
,onsidering the advantages of significantly lower cost of operations in India, several
multinational companies across the globe are e(pressing their willingness to shift their
operations to India. 2ccording to a +''! estimate, the demand for office space by the ever
e(panding IT and IT*enabled service sectors in India would be around // million s-uare
feet, in the ne(t five years.
Indian real etate report: BIf the human race wishes to have a prolonged and indefinite
period of material prosperity, they have only got to behave in a peaceful and helpful way
toward one another.B *@inston ,hurchill. The heresy of typical Indians has changed the
orthodo( mindset of building and designing a house to live in it. 2 ramification of this is
that houses are nowadays counted as a transitory asset. The idea of buying a house that
will last a lifetime has gradually vanished. The buzzword nowadays is 1investment1. Coth
the policyma)ers and the stoc)bro)ers share an united view in this aspect (although
moved by different intentions). DThe growth in the real sector is not unrealE said
$.:.;ain, 8resident lobal Infocom. In this study we ma)e an attempt to vivisect the real
and unreal components in this eye*catching sector.
The real etate boom: Indian real sector has seen an unprecedented boom in the last few
years. This was ignited and fueled by two main forces. First, the e(panding industrial
sector has created a surge in demand for office*buildings and dwellings. The industrial
sector grew at the rate of &'.4 percent in +''/*'3 out of which a growth of &&.4 percent
was seen by the manufacturing sector. $econd, the liberalization policies of government
have decreased the need for permissions and licenses before ta)ing up mega construction
pro=ects. <pening the doors to foreign investments is a further step in this direction. The
government has allowed FDI in the real estate sector since +''+. FDI was deemed
necessary in the view of ma)ing the sector more organized and increasing
professionalism. The villages ad=acent to the metro cities have e(perienced s)yroc)eting
land prices. This has induced farmers to sell their land for good money.
6
The real estate mar)et in India is yet in a nascent stage and the scope is simply unlimited.
It does not resemble a bubble that will burst. 2n unhindered growth for the ne(t twenty
years is almost sure. This is because the outsourcing business in India is going in great
guns and this entails a huge demand for commercial buildings and urban real state
besides improvement in infrastructure. The organized retail mar)et in India is also
accelerating with players li)e @al5art, Charti, .eliance etc. loo)ing forward to ma)e a
foray thus stepping up the demand for real estate.
2ccording to former 8lanning ,ommission 2dvisor Tarun Das, a price inde( for the real
estate mar)et to trac) price movement must be incorporated. The government must
ensure that there is no shortage of funds. $7CI1s($ecurities 7(change Coard of India)
recent harbinger of permitting real estate mutual funds in both private and public sector
will go a long way in attracting funds from small investors who emphasize on certain
return. 2nother impediment that can be eased on the discretion of government is the
e(isting ta( laws and other comple( regulations relating to multidimensional real estateAs
such as industrial par)s and $7?s($pecial 7conomic ?one). .IT7$(.eal 7state
Investment Trusts) of the type introduced in #.$.,#.:. and ermany should be imitated
and e(plored.
Real etate trend in India: India, li)e many other parts of the world is zooming away
in the face of a real estate boom. In India there is a real estate boom in any direction you
wish to see. @hether it is Cangalore, 8une, ,alcutta or ,hennai or 9yderabad or even
already s)y high 5umbai and Delhi * the story is the same. Fow apartments are more
than =ust houses. They are about lifestyle. $o while the first housing colonies had nothing
but a security guard, these new housing colonies have a gym (spa, =acuzzi, steam),
swimming pool (heated, lined with Italian marble).
$ome have a multiple(, shopping comple(. There are those which offer a servant
entrance. The concern is that in India, stoc) prices are at the height of a boom. 2s it
happens, a boom in one sector translates into a boom in another sector with investors
7
rushing to par) their money in a safe place. 2lso, add the foreign e(change glut in India
fuelled to a great e(tent by software engineers par)ing their dollar salaries in real estate
(especially near the tech hubs). 6ow interest rates (relatively, as compared to &' years
bac)) over the last few years made ban) loans easier.
Driven by positive growth in the economy, real estate in India is booming. The year +''/
started on a promising note when the overnment of India opened the construction and
development sector in February +''/, and allowed &'' per cent foreign direct investment
(FDI) under the 1automatic route1 in order to spur investment in the vital infrastructure
sector. The government has thrown open the lucrative parts of the Indian realty mar)et to
global investors for the first time.
The rela(ation of the FDI ceiling saw big names =oining hands with the Delhi*based
developments to announce India1s largest FDI in the realty sector. roups showing
interest in India include ma=or Indian and international companies.
The development o! real etate in India !ocue on t"o primary area: retail and
reidential#: The global real*estate consulting group :night Fran) has ran)ed India "th
in the list of !' emerging retail mar)ets and predicted an impressive +' per cent growth
rate for the organized retail segment by +'&'.
The organized segment is e(pected to grow from a mere + per cent to +' per cent by the
end of the decade, it said.
The boom is also attracting interest from foreign players. In recent years, non*resident
Indians (F.Is) have played a very important role in transforming the Indian real estate
mar)et. <pening*up of the Indian economy provided them with new opportunities and
they have shown a great deal of confidence in the changed set up. $ince &>>0, F.Is have
8
invested a sizeable amount, of which a big chun) has found its way into the property
mar)et. 8articipation by F.Is has brought about a lot of maturity in the mar)et which in
the past had solely ban)ed on the actual users.
Statement o! $roblem
To )now the level of customer satisfaction of 8uravan)ara 8ro=ects 6imited and
understand it through a thorough study from the responses given by the customers
through -uestionnaire.
%iterature Revie"
&'() *ome +uyer,Seller Sati!action tudy by -#D# $o"er: .epeat buyers and sellers
e(pressed more satisfaction with their real estate company compared to customers who
were selling or buying a home for the first time, according to the ;.D. 8ower +'&! 9ome
CuyerG$eller $atisfaction study. The +'&! 9ome CuyerG$eller $tudy includes 0,!3&
evaluations from !,>!' respondents who bought or sold a home between 5arch +'&+ and
2pril +'&!.2 real estate ,ompanyAs agent remains the most important aspect of the
customerAs e(perience among first*time and repeat home buyers and sellersH however,
customer loyalty is first to the company and second to the agent. .eal estate companies
remain challenged in adapting their customer service approach to best meet the needs of
first*time home buyers and sellers. They need to educate these customers by e(plaining
the current state of the mar)et, discuss foreclosure and short sale transactions, and wal)
them through every step of the closing process. To measure satisfaction, the study loo)ed
at four factors in the home buying e(perienceI agentGsalesperson, real estate office,
closing process, and variety of additional services.
Cutomer Sati!action
Why Organizations Focus on Customer Satisfaction
Cusinesses monitor customer satisfaction in order to determine how to increase their
customer base, customer loyalty, revenue, profits, mar)et share and survival. 2lthough
greater profit is the primary driver, e(emplary businesses focus on the customer and
9
hisGher e(perience with the organization. They wor) to ma)e their customers happy and
see customer satisfaction as the )ey to survival and profit. ,ustomer satisfaction in turn
hinges on the -uality and effects of their e(periences and the goods or services they
receive.
Cutomer ati!action: 2 company should always try to )eep every customer happy. It is
not enough getting the offered product right, there is so much more to customer
satisfaction than the actual core product. 6oyal customers that )eep coming bac) bring a
lot of revenue to a company with their repeat business. 7ven if you mar)et your company
in a way that a lot of new people come to chec) the business out and spend some money,
a lot of wor) still needs to be put down on the customer service etc to ma)e the customers
)eep coming bac).
2 satisfied customer is either a customer that gets what he e(pected or that gets his
e(pectations e(ceeded. The more customers a company can send away positively
amazed the better. ,ustomers that get their e(pectations e(ceeded are usually happy
spreading the word about what great service they have received.
This also wor)s the other way around, if a customer leaves unhappy, he will not hesitate
to voice his negative opinion and this might scare off possible future customers.
$ometimes however it can be enough to )eep customers within the zone of tolerance.
The zone of tolerance means that the customer gets good enough service to be fairly
satisfied. The zone of tolerance lies between what )ind of service the customer actually
wants and what he is willing to accept. @hen a customer is within the zone of tolerance
he rarely goes out deliberately searching for a new service provider. 9owever, if a
customer li)e this stumbles upon a better offer, he might not be so faithful.
.eauring cutomer ati!action: 2 company should always try to )eep up with what is
going on with their customers and in order to do that, research must be done every now
and then. It is easy for a company to assume they )now what their customers want, but
what the customer wants and what the company thin)s that the customers want can be
very different at times. 5easuring customer satisfaction can help ma)e great
10
improvements in the company. It is good to try to find out both current needs and future
needs as these always )eep changing.
2 company should always remember not to ma)e too big promises. It is always better to
under mar)et a bit in order not to fail the customer and to have a great chance to create an
actual wow*e(perience for the customer, instead of ma)ing empty promises.
Di!!erent method o! doing a cutomer ati!action reearch: There are many ways to
measure customer satisfaction. Jou can study customer satisfaction by gathering either
secondary or primary data. $econdary data is information that you can get from e.g.
libraries or the government. 2 company can also have secondary data themselves if they
have )ept some information about their customers or they have made some previous
studies. 8rimary data is a lot more time*consuming as it is done by collecting new
information about a certain field through e.g. conducting interviews, ma)ing people fill
out -uestionnaires or through ma)ing observations. To best measure customer satisfaction
it is good to have both secondary and primary data. @hen collecting primary data there
are two different techni-ues that can be used.
8rimary data can be collected by either doing -ualitative or -uantitative research.
@hen doing -ualitative research you do not study a large number of customers, instead
you concentrate on getting as much information as possible from a smaller number of
customers. In*depth interviews face to face or by telephone can be used for -ualitative
research. It is good to have some )ind of a structure of what to as) the customer, but here
you also have the chance to react to the answers and as) the customer to elaborate on his
comments, leading into more insight.
@hen -uantitative research is being carried out it is good to follow at least "' people in
order to get a reliable and realistic result. This )ind of research is usually done with the
help of a -uestionnaire that can be left to fill out at a restaurant for e(ample, it can be
mailed or e*mailed to customers, you can phone customers and interview them or you can
wal) up to people as)ing them the -uestions and tic)ing their answers.
Deigning a /uetionnaire: @hen designing a -uestionnaire there are many things to
)eep in mind. If a -uestionnaire is too long, too complicated or too boring, the customer
might =ust fill it out without even thin)ing to get it over and done with. If a -uestion is too
long and complicated it might be misunderstood and therefore answered incorrectly. The
11
-uestions should be easy to follow and in a logical order. 2 -uestionnaire should always
start with the simplest -uestions for an easy start.
$ome -uestions might also be a bit sensitive for some people and e(tra*attention should
be paid to the forming of these -uestions so that the respondent does not feel the need to
lie =ust to avoid feeling embarrassed. 2 poorly done -uestionnaire can end up =ust giving
wrong information instead of helping the company.
2 -uestionnaire should not be too long, but sometimes as)ing two or three -uestions
instead of one is better. This is in the case of a complicated or ambiguous -uestion.
,onfusing the respondents should be avoided as much as possible. 2 -uestionnaire
should also be done in a way that it does not lead the respondents to give a certain
answer. Kuestions can either be open or closed and both types can be used in the same
-uestionnaire. 2n open -uestion gives the respondent the chance to answer in his own
words and a -uestionnaire li)e this reminds a bit of a conversation. This method can
bring more details, but open -uestions re-uire more effort from the respondent and can
ris) being poorly answered or end up simply not answered at all. <pen -uestions should
preferably be placed at the end of the -uestionnaire if there is a use of both open and
closed -uestions. This helps the customer to first warm*up a bit to the sub=ect before
moving on to tric)ier -uestions.
Kuestions that can only be answered DyesE, Dno or DI donAt )now are closed -uestions.
,losed -uestions are also the )ind that has ready*made suggestions and where you simply
tic) the right answer. #sually you can only tic) one answer, but there are also -uestions
where you can choose several options. This has to be clearly indicated in the
-uestionnaire. These are the )ind of -uestions that could not start a real conversation.
,losed -uestions have the advantage of being fairly easy to analyze. (Crace, +''4, 0')
8aper*-uestionnaires can sometimes have an advantage because of the lac) of
interviewer. It is easier to be honest with sensitive -uestions when there is not a person in
front of you and the -uestionnaire is anonymous. 2 written -uestionnaire also gives the
respondent the chance to ta)e his time thin)ing about the answers and filling out open*
ended -uestions. There is also the possibility to add pictures if this suit the -uestionnaire.
Disadvantages of a paper*-uestionnaire might in some cases be that the respondent can
read through it before responding and that the respondent has too much time to thin)
12
about the answers if the -uestionnaire is actually loo)ing for attitudes and first thoughts.
@hether to include an DI donAt )nowE option or not in closed -uestions should be
carefully considered. It ma)es the option an acceptable alternative and many people
might end up tic)ing this alternative as it is the easiest. 9owever, it might be needed at
least in some -uestions, because the respondent might not actually )now the answer or at
all be familiar with what is as)ed. If this option is not offered the -uestion might be left
blan) by many respondents.
The layout of a -uestionnaire should be neat. It should be written in a font that is easy to
read and the paper should never be too crammed as it ma)es the -uestionnaire hard to
follow. <ne should avoid too long -uestionnaires, but using more papers instead of
cramming it all onto one page usually gives a better response rate. The -uestionnaire
should include a presentation or a cover letter of who is doing the research and why if the
respondents are made to answer it without an interviewer. If an interviewer is present, he
should e(plain the aim of the research. This helps give a sense of purpose to the
respondents and can help motivate them. 2 -uestionnaire should always also include a
than) you to the respondentsL
It is interesting how small details can influence the outcome of a research. If you as) a
-uestion li)e D9ow do you feel about the food offered on our lunch menuME and then
provide options from e(cellent to e(tremely poor or from e(tremely poor to e(cellent,
this will influence the answers. <ne could thin) that it is the same -uestion and the same
answers, but people for some reason tend to tic) some of the first alternatives, meaning
that if you start with the positive, you will get a more positive outcome and vice versaL
<nce you have the results of a study they need to be analyzed carefully. 2 well done
-uestionnaire research can give a lot of insight to a company and shed light on problems
a company did not )now it had. @ith the help of open ended -uestions customers can be
able to voice different needs that they have that the company was not aware of. <nce the
analysis has been done the company can start to thin) about how to address possible
faults and how to be able to wow their customers in the future.
The usual measures of customer satisfaction involve a survey with a set of statements
using a 6i)ert Techni-ue or scale. The customer is as)ed to evaluate each statement and
13
in term of their perception and e(pectation of the performance of the organization being
measured.
Cutomer Sati!action 0 Step: It1s a well*)nown fact that no business can e(ist without
customers. In the business of @ebsite design, it1s important to wor) closely with your
customers to ma)e sure the site or system you create for them is as close to their
re-uirements as you can manage. Cecause it1s critical that you form a close wor)ing
relationship with your client, customer service is of vital importance. @hat follows are a
selection of tips that will ma)e your clients feel valued, wanted and loved.
1. Encourage Face-to-Face Dealings
This is the most daunting and downright scary part of interacting with a customer.
If you1re not used to this sort of thing it can be a pretty nerve*wrac)ing e(perience. .est
assured, though, it does get easier over time. It1s important to meet your customers face to
face at least once or even twice during the course of a pro=ect. 5y e(perience has shown
that a client finds it easier to relate to and wor) with someone they1ve actually met in
person, rather than a voice on the phone or someone typing into an email or messenger
program. @hen you do meet them, be calm, confident and above all, ta)e time to
as) them what they need. I believe that if a potential client spends over half the meeting
doing the tal)ing, you1re well on your way to a sale.
2. es!on" to #essages $rom!tly % &ee! 'our Clients (nforme"
This goes without saying really. @e all )now how annoying it is to wait days for a
response to an email or phone call. It might not always be practical to deal with all
customers1 -ueries within the space of a few hours, but at least email or call them bac)
and let them )now you1ve received their message and you1ll contact them about it as soon
as possible. 7ven if you1re not able to solve a problem right away, let the customer )now
you1re wor)ing on it. 2 good e(ample of this is my @eb host. They1ve had some trouble
with server hardware which has caused a fair bit of downtime lately. 2t every step along
the way I was emailed and told e(actly what was going on, why things were going
wrong, and how long it would be before they were wor)ing again. They also apologized
repeatedly, which was nice. Fow if they server had =ust gone down with no e(planation I
thin) I1d have been pretty annoyed and may have moved my business elsewhere. Cut
because they too) time to )eep me informed, it didn1t seem so bad, and I at least )new
14
they were doing something about the problems. That to me is a prime e(ample of
customer service.
). *e Frien"ly an" +!!roacha,le
2 fellow $ite 8ointer once told me that you can hear a smile through the phone. This is
very true. It1s very important to be friendly, courteous and to ma)e your clients feel li)e
you1re their friend and you1re there to help them out. There will be times when you want
to beat your clients over the head repeatedly with a blunt ob=ect * it happens to all of us.
It1s vital that you )eep a clear head, respond to your clients1 wishes as best you can, and at
all times remain polite and courteous.
-. .ave a Clearly-Define" Customer Service $olicy
This may not be too important when you1re =ust starting out, but a clearly defined
customer service policy is going to save you a lot of time and effort in the long run. If a
customer has a problem, should they contact different people for billing and technical
en-uiriesM If they1re not satisfied with any aspect of your customer service, who should
they tellM There1s nothing more annoying for a client than being passed from person to
person, or not )nowing who to turn to. 5a)ing sure they )now e(actly what to do at each
stage of their en-uiry should be of utmost importance. $o ma)e sure your customer
service policy is present on your site ** and anywhere else it may be useful.
/. +ttention to Detail 0also 1nown as 23he 4ittle 5iceties26
9ave you ever received a 9appy Cirthday email or card from a company you were a
client. Jou ever had a personalized sign*up confirmation email for a service that you
could tell was typed from scratch. These little niceties can be time consuming and aren1t
always cost effective, but remember to do them. 7ven if it1s as small as sending a 9appy
9olidays email to all your customers, it1s something. It shows you careH it shows there are
real people on the other end of that screen or telephoneH and most importantly, it ma)es
the customer feel welcomed, wanted and valued.
7. +ntici!ate 'our Client2s 5ee"s % 8o Out Of 'our Way to .el! 3hem Out
15
$ometimes this is easier said than doneL 9owever, achieving this supreme level
of understanding with your clients will do wonders for your wor)ing relationship Ta)e
this as an e(ampleI you1re wor)ing on the front*end for your client1s e(citing new
ecommerce 7ndeavour. Jou have all the images, originals and files bac)ed up on your
des)top computer and the site is going really well. During a meeting with your client
heGshe happens to mention a hard*copy brochure their internal mar)eting people are
developing. 2s if by magic, a couple of wee)s later a ,D*.<5 arrives on their doorstep
complete with high resolution versions of all the images you1ve used on the site. 2 note
accompanies it which readsI
9. .onor 'our $romises
It1s possible this is the most important point in this article. The simple messageI when you
promise something, deliver. The most common e(ample here is pro=ect delivery dates.
,lients don1t li)e to be disappointed. $ometimes, something may not get done, or you
might miss a deadline through no fault of your own. 8ro=ects can be late, technology can
fail and sub*contractors don1t always deliver on time. In this case a -uic) apology and
assurance it1ll be ready 2$28 wouldn1t go a miss.
Signi!icance o! Study
The study conducted is ,ochin city reflects the mar)et position of 8uravan)ara
8ro=ects 6td. It gives us the details of various factors of buying behavior of customers.
The study enables the company to prepare mar)eting strategy and plan accordingly, so as
to capture a greater mar)et share and the services provided by the company. It foresight
the future re-uirement of the mar)et and thus helps the manufacturer to face the future
completion in a fully prepared way.
Thus it helps the company to have a good brand image and stepping toward
success.
Scope o! Study
16
The scope of the study is to understand the customer satisfaction of 8uravan)ara
apartments and also to understand the customer buying behavior. The study mainly
focuses on the factors that affect the customer satisfaction towards buying an apartment.
This study will be beneficial to 8uravan)ara 8ro=ects 6td to )now about customer satisf
action in cochin city. The company can come to )now various factors affecting the
customersA properties buying behavior.
,ompany comes to )now about customers e(pectations N need for future properties
purchases. The sample size ta)en for this pro=ect is &'' .espondents.
9ence, this mar)et study will provide information to ,ompany, and ,ustomers.
Ob1ective o! the Study
2long with all this the basic ob=ectives of the study underta)en are as followsI
&. To study the e(isting customer loyalty of 8uravan)ara builders.
+. To e(amine the significance of customer satisfaction based on perspective of the
customer.
!. To offer suggestion to improve customer satisfaction in 8uravan)ara .
%imitation o! the Study
The survey was restricted to selected areas in ,ochin city only.
The time duration of this survey was "' days only.
.ainy season was main hurdle for this survey.
The response from the respondents was fair enough but not up to the mar)
This pro=ect was only restricted to the residential properties of
8uravan)ara 8ro=ects 6td N not commercials N others.
The survey area were too far as the city is big enough which caused many
transportation problem.
.ethodology
17
.esearch methodology is a systematic way, which consists of series of action steps,
necessary to effectively 8uravan)ara Cuilders real estate out research and the desired
se-uencing to these steps. The mar)eting research is a process of involves a number of
inter*related activities, which overlap and do rigidly follow a particular se-uence. It
consists of the following stepsI*
Formulating the ob=ective of the study
Designing the methods of data collection
$electing the sample plan
,ollecting the data
8rocessing and analyzing the data
.eporting the findings

Objective of Study
Research Design
Sample Design
Data Collection
18
Fig 1
Steps in Research Design

Research Design
Research design specifes the methods and procedures for conducting a
particuar stud!" # research design is the arrangement of conditions for
coection and ana!sis of the data in a manner that aims to com$ine
ree%ance to the research purpose &ith econom! in procedure' Research
design is $road! cassifed into three t!pes as
7(ploratory .esearch Design
Descriptive .esearch Design
,ausal .esearch Design
Sampling Techni/ue
The convenience sampling techni-ue was employed in the selection of the sample.
Sample Si2e:
The study was done on 4' en-uiries of the company Therefore the sample size was
4'.The data of 4' en-uiries was obtained from the customer database maintained by the
company from +'&!*+'&0.
Data Collection .ethod
Data Analysis
Report of fndings
19
The data collection method for the study the researcher should )eep in the mind the two
sources of data.
O 8rimary data
O $econdary data.
$rimary Data Collection:
$ource of primary dataI 8rimary data has been collected through structured -uestionnaire.
The -uestionnaire consisted of a variety of -uestions that lay consistent with the ob=ective
of the research. .
The -uestionnaire was prepared )eeping in view the ob=ectives of study. Different
-uestions were so arranged to )now satisfaction level of customers towards services
provided by company. The -uestionnaire not only focused gathering information on the
above mentioned areas but also about the service suggestions to be envisaged under
support, update and engage.
Secondary data:
$econdary data has been collected from the ,ompany @ebsite, Internet etc.
Data Analyi and Interpretation
$oftware pac)age 5$*7(cel will be used for representing the data analysis results,
graphs and tables. 8ercentage analysis will be used for analyzing the data collected.
20
INDUSTR3 CO.$AN3 $RODUCT $RO4I%5
INDUSTR36 CO.$AN3 AND $RODUCT $RO4I%5
Indutry $ro!ile
@hile India continues to be one of the fastest growing economies, this pace of growth is
unli)ely to sustain unless it is supported by an e-ually robust development of its
infrastructure. :ey re-uirements in order to achieve a D8 growth rate e(ceeding 4*>P
include roads, power, ports as well as urban infrastructure. The last couple of budgets
21
have ta)en steps in the right direction for growth of the sector. 2n allocation of .s. +''
billion towards infrastructure pro=ects under the +'&& budget is an attempt to achieve the
overnments target for growth of Infrastructure under the 7leventh 8lan.
India will have around +3 to !' million shortages of housing units by +'&! and for thisH
huge amount is re-uired to carry on the development. $lowdown in the global economy
along with consistent increase in policy rates by the .eserve Can) of India (.CI) finally
seems to be impacting the domestic economy with the D8 growth cooling down since
past few -uarters.
The D8 growth recorded during first -uarter of financial year +'&+ has slowed down to
3.3percent as against >.! per cent during first -uarter of financial year +'&&.7ven the
pro=ected D8 growth for financial year +'&+ has been revised downward to 3.> per cent
from 4.+ percent by the .CI.
The real estate sector in India is being recognized as an infrastructure service that is
driving the economic growth engine of the country. In fact, Foreign Direct Investment
(FDI) in the sector is e(pected to increase to #$% +" billion in the ne(t &' years, from
present #$% 0 billion. The country1s urban population will soar to ">' million by +'!',
from !0' million in +''4.India1s cities could generate 3' percent of the net new =obs
created by +'!', produce more than3' percent of the country1s ross Domestic 8roduct
(D8), and stimulate a near four*fold increase in per capita income. It also says that India
needs to invest #$% &.+ trillion over ne(t +'years to modernize urban infrastructure and
)eep pace with the growing urbanization. Fon*resident Indians and foreign citizens who
are 8ersons of Indian <rigin (8I<) are allowed to purchase immoveable property in India.
.esidential property prices have stabilized now and are deemed attractive for the F.I
home buyer. Industry e(perts feel that with attractive pricing and innovation in
construction technology and variety of designs, F.Is are ta)ing a fresh loo) at India as a
uni-ue mar)et in which they can invest.
.eal 7state business was one of the )ey drivers of growth before we witnessed the
present economic slowdown. Fow, with companies trying to consolidate their positions
and finding effective means of sustaining growth, the management of real estate has
emerged as one of the )ey challenges for the corporate sector. The largest occupier of
office space in the country has been the Information TechnologyG Information Technology
22
enabled $ervices (IT) segment, which primarily serves the #$ and 7uropean mar)ets.
The economic slowdown in these mar)ets have resulted in increasing pressures on the
margins of companies operating out of India, which in turn has led to the companies
loo)ing to cut costs through reducing e(penditure on the real estate segment. The real
estate sector in India assumed greater prominence with the liberalization of the economy,
as the conse-uent increase in business opportunities and labour migration led to rising
demand for commercial and housing space. 2t present, the real estate and construction
sectors are playing a crucial role in the overall development of IndiaAs core infrastructure.
The real estate industryAs growth is lin)ed to developments in the retail, hospitality and
entertainment (hotels, resorts, cinema theatres) industries, economic services (hospitals,
schools) and information technology (IT)*enabled services (li)e call centers) etc and vice
versa.
The Indian real estate sector has traditionally been dominated by a number of small
regional players with relatively low levels of e(pertise andGor financial resources.
9istorically, the sector has not benefited from institutional capitalH instead, it has
traditionally tapped high net*worth individuals and other informal sources of financing,
which has led to low levels of transparency.
This scenario underwent a change with in line with the sectorAs growth, and as of today,
the real estate industryAs dynamics reflect consumersA e(pectations of higher -uality with
IndiaAs increasing integration with the global economy.
$reent Scenario o! Real 5tate: ,urrently, about " per cent of IndiaAs D8 is
contributed by the housing sector. The D8 share of the real estate sector (including
ownership of dwellings) along with business services was &'./per cent in +'&'*&&. 2fter
growing at &'.0 per cent in +''4*'>, the rate of growth of this sector has decelerated to
3.4 per cent in +''>*&' and further to /.> per cent in +'&'*&&. 7stimates show that for
every rupee that is invested in housing and construction, '.34 paisa gets added to D8.
9ousing ran)s fourth in terms of the multiplier effect on the economy and third amongst
&0 ma=or industries in terms of total lin)age effect according to 7conomic $urvey +'&&*
&+.Demand for real estate is e(pected to grow at a compound annual growth rate (,2.)
of &>percent between +'&' and +'&0 Tier & metropolitan cities are pro=ected to account
for about 0'percent of this. rowing re-uirements of space from sectors such as
23
education, healthcare and tourism provide opportunities in the real estate sector. @ith
institutional credit for housing investment growing at a ,2. of about &4 to +' per cent
per annum in the ne(t three*five years, the housing sectorAs contribution to D8 is li)ely
to increase to / per cent. @hile India is among the top countries in terms of housing and
wor) space needs, it ran)s &4&st in construction permission processes according to the
@orld Can)As Doing Cusiness +'&+ report.
Real 5tate .ar7et Si2e: 2ctivities in the real estate sector may broadly be classiQed
into residential, commercial and the retail segment and hotels. The size in terms of total
economic value of real estate development activity of the Indian real estate mar)et is
currently #$%0'*0"bn ("*/P of D8) of which residential forms the ma=or chun) with
>'*>"P of the mar)et, commercial segment is distant second with 0*"P of the mar)et
and organized retail with &P of the mar)et. <ver ne(t " years, Indian real estate mar)et is
e(pected to grow at a ,2. of +'P, driven by &4*&>P growth in residential real estate,
""*/'P in retail real estate, and +'*++P in commercial real estate.
.ar7et Segment: In recent years, the Industry has evolved from a highly fragmented
and unorganized 5ar)et into a $emi*organized 5ar)et. The sector can be divided into
residential, commercial, retail and hospitality asset classes.
(# Commercial Sector
The commercial office space in India has evolved significantly in the past &' years due to
change in business environment. The growth of commercial real estate has been driven
largely by service sectors, especially IT*ITe$. 9owever, with the emergence of IT*ITe$,
which had huge office space re-uirement, commercial development started moving
towards city suburbs. It resulted in multifold development of city outs)irts and suburbs
li)e urgaon near Few Delhi, Candra and 5alad in 5umbai, and the 7lectronic city in
Cengaluru. In addition, over the last &' years, locations such as Cengaluru, urgaon,
9yderabad, ,hennai, :ol)ata and 8une have established themselves as emerging
destinations for commercial development, which are competing with traditional business
destinations such as 5umbai and Delhi. Ta( sops on the profits of IT*ITe$ companies
also led to stupendous development of IT 8ar)s and $7?s.
9owever, the demand for office space is directly lin)ed to addition in number of
employees, which in turn is dependent on economic growth. @hen economy slows down,
24
companies hold their e(pansion plans leading to lower demand for office space.
Downturn in the commercial real estate mar)et in India, which had commenced during
the second half of +''4, continued during the second half of +''>. The sustained decline
was largely the result of postponement of e(pansion plans by corporate, which adversely
impacted demand for office space. ITGITe$, which had been a ma=or demand driver for
the sector in the last + years, increased utilization rates of e(isting commercial space by
increasing the number of shifts.
&# Reidential Sector in Real 5tate
.esidential demand is the mainstay of the Indian real estate sector. The ma=or demand
drivers for the residential mar)et include increasing disposable income levels, increase in
the number of nuclear families G households, ta( savings on home mortgage products as
well as real estate being considered a DnecessaryE investment. Demand for houses
increased considerably whilst supply of houses could not )eep pace with demand thereby
leading to a steep rise in residential capital values especially in urban areas. Croadly,
residential real estate industry can be divided into four growth phasesI*
8hase I (+''&*+''") was an initial growth phase with stabilizing residential real estate
prices following the global recovery post the Ddot comE bust and >G&& terrorist attac)s in
Few Jor). 2t the same time, there was steady growth in Indian economic activity,
noteworthy recovery in ITGIT7$ industry, growing urbanization and a rising trend
towards nuclear families.
8hase II (+''/*+''4) was a high growth phase where high demand for residential real
estate led to doubling of housing prices. Demand rapidly increased due to IndiaAs growing
population, accentuated urbanization, rising disposable incomes, rapidly growing middle
class and youth population, low interest rates, fiscal incentives on interest and principal
payment for housing loans and heightened customer e(pectations.
8hase III (+''>*+'&') witnessed substantial slowdown and part recovery in demand
because of the global economic downturn, which led to a decline in affordability and tight
li-uidity. The retreat of various real estate investors, accompanied by slowdown in the
capital mar)ets, has resulted in over supply and falling prices.
8hase IR (+'&&*+'&0) is e(pected to remain a consolidation phase after slowdown.
25
Demand is e(pected to remain strong with capital values witnessing modest rise. This
period is e(pected to witness substantial supply of housing especially in urban areas. In
spite of the stupendous growth witnessed in the past &' years, substantial housing
shortage is still prevalent in India. The housing shortage in India is estimated at
34.3million units at the end of 8hase II. The overall housing shortage in India is li)ely to
decline to 3"." million units by the end of 8hase IR.
9owever, housing shortage in urban areas will continue to rise owing to migration
towards urban areas and increasing trend of nuclear families. 9ousing shortage in urban
areas is estimated at &>.! million units at the end of +''4, up from &".& million units at
the start of +''". 9ousing shortage in urban areas is li)ely to touch a walloping +&.3
million units by the end of +'&0.
.ural areas, on the other hand, will witness a reduction in housing shortage due to
migration and conversion of )utcha houses into pucca houses. The governmentAs
continuous focus on improving the housing situation, especially for population below
poverty line, under schemes li)e Indira 2waasJo=na, .a=eev andhi 2awaas Jo=na, Two
5illion 9ousing 8rogrammers, is e(pected to reduce housing shortage in rural areas.
.ural housing shortage is e(pected to decline to "!.4 million units by +'&!*&0 from ">.0
million units at the end of +''4.
)# Retail Real 5tate
In +'&', India witnessed the addition of more than " million s-ft of organized retail mall
space across various primary and secondary locations. This was concentrated largely in
F,., 5umbai, Cangalore and ,hennai and was a conse-uence of the positive sentiments
amongst retailers on spatial e(pansion and enhancing their footprints across the country.
The growth of malls in India has increased to about "> which comprises of the retail
stoc). The retail stoc) share will increase to !/ per cent in the coming years. .esults
found out through a survey state that the retail mar)et is e(pected to grow in the coming
years. There is an increased development of retail malls which are primarily dominated
by the local developers. 2ll the ">malls in the southern N Forthern states are either in the
stages of construction or are already established. Few of the active pro=ect developers in
the $outhern N Forthern region are the 5antri Developers, the 8restige roup, D6F,
.5? ,orp and so on. Indian retailers are see)ing to implement their e(pansion plans in
26
the prime cities as well as select Tier II and Tier III cities. FDI in multi brand real estate,
when finally permitted, is e(pected to catalyze a lot of demand from international
retailers. That said, international lu(ury brands will restrict their growth plans to 5umbai,
Delhi and Cangalore.
8# *opitality Real 5tate
IndiaAs hospitality industry has en=oyed robust growth over the past few years buoyed by
a benign economic and political environment. Increase in domestic, business and leisure
travel has benefited hotels in India. .ising incomes, higher wee)end trips and increased
access to travel*related information over the Internet have propelled growth in hospitality.
8remium segment hotels are more prominent in ma=or business destinations in India and
are dominant in popular tourist destinations li)e oa, which attracts a lot of foreign
clientele. In +'&', the industry saw only five private e-uity deals with a cumulative value
of % & "/ million. Cy +'&&, the amount grew to %+>> million and during the first five
months of +'&+, hospitality industry has raised %&+& million from private e-uity. 2 few
years bac) the industry was polarized between large five star hotels and small lodges.
Fow, both domestic hotel chains and international brands are -ueuing up with several
categories of hotels to cater to different travelers in the value chain and that is why the
demand for real estate properties in India are increasing. 8rivate e-uity players are also
)een on budget, mid*sized hotels that wor) on an asset light model than the asset heavy
models that ta)e longer time to become profitable. The entry of several global brands to
fill the demand*supply gap has triggered private e-uity interest in the industry.
9# Special 5conomic :one ;S5:<
The overnment of India introduced the $7? 2ct, +''", to generate additional economic
activity, promote e(ports and create employment opportunities in the country. Developing
an $7? is appro(imately &" to +'percent cheaper than developing non*$7? commercial
spaceH given the various fiscal benefits available to $7? developers several real estate
developers have been attracted to these pro=ects. #nder the new $7? 8olicy, formal
approvals have been granted to "30 $7? proposals as of 5arch, +'&'.2s of 5arch +'&',
27
there were !"' notified $7?s and &0/ have received in*principle approval. The $7?
8olicy allows usage of as high as "' percent of the $7? area as non*processing zone,
offering significant potential for residential and support infrastructure.
Company $ro!ile
$ince its inception in &>3", 8uravan)ara has believed that there is only one mantra for
successI Kuality. This credo combined with uncompromising values, customer*centricity,
robust engineering, and transparency in business operations, has placed it among the
Smost preferredA real estate brands in both residential and commercial segments.
28
The ,ompany has grown from strength to strength, having successfully completed !/
residentialGcommercial pro=ects spanning 3.4' million s-uare feet. ,urrently, it has +>
million s-uare feet of pro=ects under development, with an additional 44 million s-uare
feet in pro=ected development over the ne(t 3*&' years. 2n I$< >''& certification by
DFR in &>>4 and a D2+T rating by ,.I$I6 are testament to 8uravan)araAs reputation as
a real estate developer of the highest -uality and reliability standards.
The roup commenced operations in 5umbai and has established significant presence in
the metropolitan cities of Cangalore, :ochi, ,hennai, ,oimbatore, 9yderabad, 5ysore
and overseas in Dubai, ,olombo and $audi*2rabia.
8uravan)ara has the distinction of being the first developer to obtain FDI in the
Indian real estate industry through its =oint venture with $ingapore based :eppel 6and
6imited, the property arm of the "0P government owned conglomerate, :eppel ,orporation
6imited. The =oint venture company, :eppel 8uravan)ara Development 8rivate 6imited, has
on*going housing pro=ects in India. 8uravan)ara prides itself on continual innovation to meet
evolving mar)et needs. 8rovident 9ousing 6td., a wholly*owned subsidiary was launched in
+''>, to cater burgeoning demand in the affordable housing segment. The 8uravan)ara roup
,ompanies has the distinction of being awarded 1finaliste, International 8ri( d1 7(cellence U
&>>41 for its pro=ect B8urva 8ar)B in Cangalore. The award was ad=udged under the group
residential category by FI2C,I, 8aris, the International Federation of .eal 7state.
8uravan)ara also bagged the .ealty 8lus 7(cellence 2ward * +'&+ in the category 18opular
,hoice * Developer of the JearI .esidential.1 .avi 8uravan)ara, ,hairman, received the
16ifetime 2chievement1 award.
2 wor)force of over >'' s)illed personnel, including +'" engineers and in*house architects
fuel the organization1s vision of delivering -uality products to its consumers.
Companie =iion ,ompany see)s to become a world class, professional real estate
organization that bridges perfect transactions between the developers and the consumers.
Cy +'&", company aspires to complete +",''' delightful transactions.
29
Companie .iion To bring delight to every sta)eholder and build lifelong
relationships withI
5mployee:
To provide a nurturing wor)place and opportunities for developing to their full potential.
Developer:
To provide the support of our talented wor)force to enable the best*in*class to reach their
desired customers.
Cutomer:
To provide an assuring hand at every =uncture and to assist them in ma)ing an informed
choice.
Invetor:
To build a growing, sustainable and profitable enterprise through concerted and focused
efforts.
Companie =alue
$eople !irt:
,ompany values their employees who in turn treat their customers li)e their own family
members. ,ompany puts their people first, nurture them and assist them in giving the
customers the best service.
Integrity:
30
,ompany delivers all their services with utmost integrity and transparency. 2ll their
dealings bear the seal of trust and the promise of a brand name promoted via word*of
mouth by their own customers.
Commitment:
,ompany values commitment as the way of life in their organization. ,ompany is
committed to deliver their customers unparalleled service standards in the industry.
%eaderhip:
,ompany cultivate ethos that promote leadership -ualities in our team. 7mployees are
encouraged to share their views and opinions on matters concerning them and our
organization.
5>cellence:
,ompany strives for e(cellence in all the services that they offer to their customers.
7(cellence in the organization is manifested by the continuous improvement through
focus on training and nurturing talents.
Innovation:
,ompany promotes innovation by encouraging flow of ideas and e(change of thoughts in
an interactive milieu aimed towards self*development of the individuals in the
organization.
?hy i $uravan7ara di!!erent !rom other@
,ompany has a strong presence across all over India.
,ompany has a very well cultured team of professionals.
,ompany helps their customers in boo)ing their Dream 9ome.
2ll the services to their customers are Free of ,ost.
,ompany is transparent in all their dealing.
They also assist in 9ome 6oans.
31
,ompany believes in Technology.
,ompanyAs portal 8uravan)ara.com ma)es property search very easy for their
customers.
Culture at $uravan7ara
,ompany follows open door policy.
,ompany has flat hierarchy.
,ompany has a team of dynamic peopleH so they are very rich with new ideas, young
Clood, 7nthusiastic wor) approach.
8uravan)ara believes in 5utual and inclusive growth with all our sta)e*
holders.$trong believers and followers of our values and a famous -uote D2ll wor)
and no play ma)e ;ac) a Dull CoyE.
6iberal wor) environment.
Service provided by Cutomer Support Aociate
8roviding property advice to ,ustomers, giving them presentations about $ite
Investments N advantages of the location.
$ales of various new residential 8ro=ects.
Ta)ing the customers to the actual sitesH thus maintaining relations with customers
and maintaining integrity.
,losing the deal and ma)ing final negotiations with the customer.
5aintaining systematic records of all the customer interactions.
Focusing on 2fter $ales ,lient .elationship.
7nsuring the necessary paperwor) and documentations.
2ssisting in 9ome 6oans and financial 8lanning.
8ro*actively contributing to $ales $trategy, Design and Implementation.
Service provided by Relationhip .anager
.eceiving leads from the mar)eting department and ma)ing follow*up calls to the
prospective customers.
8itching for various residential pro=ects and negotiating site visit details.
5aintenance of records of customer details and preferences.
Face*to*face off*site meetings with the prospective customers.
Ta)ing clients for on*site visits, e(plaining pro=ect details and showing sample
flats.
32
Fegotiating with the customer and closure of the deal.
8roviding after sales service if any.
Trac)ing N reporting of all pending and closed business operations in assigned
database.
5aintenance of records of customer sales interviews and adoption situations in
assigned database.
Follow*up of the leads provided by the mar)eting department.
7*mail and $5$ correspondence with the prospective customers.
Ta)ing a note of the personal details of the customer, hisGher financing options,
purpose of investment, etc and advising the customer accordingly.
$roduct $ro!ile
8uravan)ara got four ready to occupy apartments located in prime locations in cochin.
8urva 7ternity located in :a))anad
8urva 5oonreach located in :a))anad
8urva randbay located in 5arinedrive
8urva <ceana located in 5arinedrive
$ro1ect in +angalore
,oronation $-uare U ;8 Fagar.
33
8urva +3' degrees U ,R .aman Fagar.
8urva 2tria U .5R +
nd
stage.
8urva old ,rest U <ff :ana)apura .oad.
8urva 9igh ,rest U <ff :ana)apura .oad.
8urva 5idtown .esidence U <ff :. 8uram Cridge.
8urva 8alm Ceach U <ff 9ennur .oad.
8urva $eason U ,R .aman Fagar.
8urva $)ydale U <ff $ar=apur .oad.
8urva $)ywood U <ff $ar=apur .oad.
8urva $unflower U 5agadi .oad.
8urva Renezia U Jelahan)a.
8urva @estend U 9osur .oad.
8urva @hitehall U $ar=apur 5ain .oad.
The $ound of @ater U <ff Cannerghatta .oad.
$urva 5ternity
34
4ig &
$urva Eternity at &a11ana"
8ro=ect 6ocation
6ocation :a))anad
6and 2rea ".& acres
2partments /''
Fumber of Floors CTT+'
Case 8rice 0'''G$-ft
Table(
Details of $urva Eternity
8urva 7ternity is a pro=ect which is located in :a))anad. The pro=ect consists of /''
apartments span in an area of ".+ acres of land. The pro=ect is li)e a mini township
provides all lu(ury facilities to target upper class people.
$urva Grandbay
35
4ig )
$urva 8ran",ay at #arine"rive
8ro=ect 6ocation
6ocation 5arinedrive
6and 2rea +.&+ acres
2partments +/"
Fumber of Floors CTT&0
Case 8rice /00'G$-ft
Table &
Details of $urva 8ran",ay
8urva randbay is a lu(ury pro=ect located in 5arinedrive. The pro=ect consists of +"/
apartments span in area of +.+" acres of land. The pro=ect consists of three types of
apartments Cird sanctuary facing, 8artial sea facing, Full sea facing.
$urva Oceana
36
4ig 8
$urva Oceana at #arine"rive
8ro=ect 6ocation
6ocation 5arinedrive
6and 2rea +.&+ acres
2partments +/"
Fumber of Floors CTT&0
Case 8rice /00'G$-ft
Table )
Details of $urva Oceana
8urva <ceana is a #ltra 6u(ury pro=ect targeting only high profile customers
located in 5arinedrive. The pro=ect consists of >" apartments span in an area of &.+"
acres of land. The pro=ects s-uare feet starting from +"'' to !"'' s-ft.
8eople who are loo)ing for an investment purpose are going for 5arinedrive and
:a))anad.
37
DATA ANA%3SIS
DATA ANA%3SIS AND INT5R$R5TATION
38
2re you satisfied with facility provided by 8uravan)ara buildersM
Table 8
.esponse of facility provided by 8uravan)ara
Repone 4re/uency $ercentage
Jes /0 4'P
Fo &/ +'P
Total A' (''
80%
20%
Yes No Row 3 Row 4
4ig 9
Satisfaction level of facility !rovi"e" ,y the *uil"er
Interpretation
In the survey I found that 4'P are satisfied with the services and facility provided by
8uravan)ara builders group and +'P are not satisfied. 8uravan)ara provides a better
facilities than other builders. In the case of :a))anad pro=ects ie,8urva 7ternity company
provides a clubhouse with all modern facilities li)e a club theatre, supermar)et provision
and a party hall. This attracts the customers and aligned to 8uravan)ara. $ome customers
are not in favor of the facilities provided by the company the facilities are not that much
great as these are provided by other builders.
39
2re you satisfied from the pricing of 8uravan)ara builders@
Table 9
.esponse of 8ricing of 8uravan)ara
Repone 4re/uency $ercentage
Jes +' +"P
Fo /' 3"P
Total A' (''
75%
25%
No Yes Row 3 Row 4
4ig B
$ricing satisfaction ,y the Customer
Interpretation:
In the survey I found that 3"P are not satisfied with the pricing policy and +"P are
satisfied.
,omparing with the price with other builders 8uravan)ara is higher,because 8uravan)ara
had got a brand vaue which cannot ma)e as same as other local builders.@hen a
customer agrees the price they go for a negotiation by telling that price is too
high.5a=ority customers of 8uravan)ara are not satisfied with the pricing of company,
but some percentage li)e nonresident, big shots, celebrities does not consider the pricing
since they got a high disposable income to spend on 8uravan)ara.
40
2re you satisfy from the security, and other facility provided by 8uravan)ara buildersM
Table B
.esponse of facility provided by 8uravan)ara
Repone 4re/uency $ercentage
Jes 3+ >'P
Fo 4 &'P
Total A' (''
90%
10%
Yes No Row 3 Row 4
4ig0
Satisfaction level of security an" other mo"ern technology !rovi"e" ,y the *uil"er
Interpretation
In the survey I found that >'P says yes and &'P are says no.
8uravan)ara provides +0G3 security and new technologies li)e Intercom facility
$urveillance camera,Cuilding 5onitoring system etc to ensure the safey of the people as
well as the building. ,ustomers of 8urva randbay li)e the facilities most, an uni-ue
feature of this pro=ect is that a car lift is provided for residents,this will be great help for
old people who can go to car without going to the basement.
41
Is 8uravan)ara Cuilders provided you the 6oan facilityM
Table 0
.esponse of 6oan provided by the company
Repone 4re/uency $ercentage
Jes 00 ""P
Fo !/ 0"P
Total A' (''
55%
45%
Yes No Row 3 Row 4
4ig A
4oan facility !rovi"e" ,y the com!any
Interpretation
In the survey I found that ""P says company is providing the loan facility and 0"P says
company is not providing the loan facility which the customer wants.
42
@hich class of customer targeting by the companyM
Table A
Targeting customers
Repone 4re/uency $ercentage
#pper ,lass "+ /"P
#pper 5iddle +' +"P
5iddle* 6ower 4 &'
Total A' (''
Upper class Upper-middle Middle-lower Row 4
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.65
0.25
0.1
4ig C
3arget Segment of the Com!any
Interpretation:
In the survey I found that 8uravan)ara builders target the upper class and the upper
middle class. The pricing itself shows that company is targeting the upper class people.
43
The pricing of 5arinedrive and :a))anad shows that people who have an income of +
la)h per month only can afford the apartment.
Data Analyi o! Service provided by $uravan7ara:D
Table C
.ating of website of the company
Repone 4re/uency $ercentage
7(tremely satisfied 3 >P
Rery satisfied &> +0P
$omewhat satisfied +3 !0P
$omewhat dissatisfied +' +"P
Rery dissatisfied / 4P
7(tremely dissatisfied ' 'P
Total A' (''
?ebite Analyi:
()treme! Dissatisfed* 1+
,er! Dissatisfed* 8+
-ome&hat Dissatisfed* 25+
-ome&hat -atisfed* 34+
,er! -atisfed* 24+
()treme! -atisfed* 9+
Website
4ig ('
44
We,site analysis
Decription o! the $ie chart:
'P respondents are e(tremely dissatisfied with website services provided by
company.
4P respondents are very dissatisfied with website services provided by company.
+"P respondents are somewhat dissatisfied with website services provided by
company.
!0P respondents are somewhat satisfied with website services provided by
company.
+0P respondents are very satisfied with website services provided by company.
>P respondents are e(tremely satisfied with website services provided by
company.
Table ('
Email $arameter +nalysis
Repone 4re/uency $ercentage
7(tremely satisfied 4 11+
Rery satisfied +' 25+
$omewhat satisfied +4 35+
$omewhat dissatisfied +' 26+
Rery dissatisfied '.4 1+
7(tremely dissatisfied & 2+
Total A' (''
()treme! Dissatisfed* 0'02 ,er! Dissatisfed* 0'01
-ome&hat Dissatisfed* 26+
-ome&hat -atisfed* 35+
,er! -atisfed* 25+
()treme! -atisfed* 11+
mail
45
5mail Analyi
4ig ((
Email services !rovi"e" ,y the com!any
Decription o! pie chart:
+P respondents are e(tremely dissatisfied with 7mail services provided by
company.
&P respondents are very dissatisfied with 7mail services provided by company.
+/P respondents are somewhat dissatisfied with 7mail services provided by
company.
!"P respondents are somewhat satisfied with 7mail services provided by
company.
+"P respondents are very satisfied with 7mail services provided by company.
&&P respondents are e(tremely satisfied with 7mail services provided by
company.
S.S $arameter Analyi:
Table ((
.ating of $5$ services provided by the company
Repone 4re/uency $ercentage
7(tremely satisfied &+ 15+
Rery satisfied +' 26+
$omewhat satisfied +3 34+
$omewhat dissatisfied &+ 15+
Rery dissatisfied / 8+
7(tremely dissatisfied & 2+
Total A' (''
46
()treme! Dissatisfed* 0'02
,er! Dissatisfed* 8+
-ome&hat Dissatisfed* 15+
-ome&hat -atisfed* 34+
,er! -atisfed* 26+
()treme! -atisfed* 15+
S!S
4ig (&
S#S services !rovi"e" ,y the com!any
Decription o! pie chart:
+P respondents are e(tremely dissatisfied with $5$ services provided by
company.
4P respondents are very dissatisfied with $5$ services provided by company.
&"P respondents are somewhat dissatisfied with $5$ services provided by
company.
!0P respondents are somewhat satisfied with $5$ services provided by
company.
+/P respondents are very satisfied with $5$ services provided by company.
&"P respondents are e(tremely satisfied with $5$ services provided by
company.
Do you have any confusion regarding the source of the $5$M
Table (&
es!onse of the customer regar"ing the source of S#S
Repone 4re/uency $ercentage
Jes /' 3"P
Fo +' +"P
Total A' (''
47
4igure ()
Do you have any confusion regar"ing the source of the S#S:
Interpretation o! the $ie chart:
5a=ority (3"P) of the respondents are confused regarding the source of the message.
2re you satisfied from the pro=ect description by the .elationship 5anagerM
Table ()
es!onse of customers towar"s !ro;ect "etail information !arameter of elationshi!
#anager.
Repone 4re/uency $ercentage
7(tremely satisfied && &!.+"P
Rery satisfied ++ +3."P
$omewhat satisfied +' +".+"P
Feither satisfied nor
dissatisfied
" /."P
$omewhat dissatisfied &/ +'P
Rery dissatisfied 0 "P
7(tremely dissatisfied + +."P
Total A' (''
48
4igure (8
es!onse of customers towar"s !ro;ect "etail information !arameter of elationshi!
#anager.
Interpretation o! the $ie chart:
9ere &!.+"P are e(tremely satisfied with the pro=ect detail information parameter of the
.elationship manager which is pretty good. +3."P are very satisfied and +".+"P are
somewhat satisfied. +."P remained e(tremely dissatisfied.
49
$#552.J <F FIFDIF$
50
SU..AR3 O4 4INDINGS6SUGG5STIONS AND CONC%USION
4inding
.eal estate mar)ets are rising in India because of stiff competition between real estate
companies. 7very company is launching new sites with attractive prices and with more
facility in order to capture the mar)et.
8uravan)ara is targeting upper middle class people in cochin and in the study I
understood that company has to target 5iddle class people also. 7ven though company
is a Cangalore based company, company has to start new pro=ect to familiarse in the
mar)et. Facilities offered by the company is highly satisfied by the customers. 2ll most
all the customers are not complaining about the facilities because according to them
8uravan)ara got a high brand value and would not compromise on this.
.eal estate companies li)e 8uravan)ara builders, $)yline, 5ather, 2sset homes and
other are doing well in the mar)et of India.
.eal estate mar)et is also rising in India because of easy finance options provided by
various financial institutions. ,ustomers can get loans from ban) easily and investing in
most prominent locations where appreciation rate is higher.
2lmost all .eal estate companiesA sales have increased in last one year. From the study
I understood that customers are waiting for upcoming pro=ects in city area than in
remote area.
?ebite:
!!.!!P of the respondents are somewhat satisfied with the engaging and memorable
features of the website and only >.'>P were e(tremely satisfied. <nly /.'/P were
e(tremely satisfied with the raphics and 5ultimedia parameter of website. The
company has to design the website in such a way that it should be more attractive to the
users because ma=ority of the customers are only somewhat satisfied with the different
parameters. In order to ma)e them e(tremely satisfied the company has to redesign the
website.&'P of the respondents were not aware about the website of the company. !3."P
of the respondents agree that their goals are achieved while visiting the website.
51
5mail
&'P of the respondents complained that the emails were not send in time. +"P of the
respondents complained that they are getting repeated e*mails from the company. 0'P of
the respondents responded that they receive e*mails which are not intended to them.
S.S
+"P of the respondents are getting repeated $5$s and they feel it as irritating. +"P
responded that $5$ is confusing whether the message is from the company or real estate
agents. 8eople are more satisfied with the personalization parameter of $5$ than the
content relevance. &/.//P are e(tremely satisfied with the personalization parameter
whereas &+.>P are e(tremely satisfied with the content relevance parameter. The
company has to concentrate more on the content relevance parameter to ma)e it more
satisfactory to the customers.
52
Suggetion

8uravan)ara should try to decrease Five star amenities with a view to cut down the
property prices and there by attracting the middle class. Cy targeting middle class people
company grow the mar)et share and soon become the mar)et leader. 8uravan)ara should
organize annual customer meet to appreciate those customer who have been with them
and awarded them. 5a)e a continuous relationship with the e(isting customers to build
a good environment.
8uravan)ara should ta)e mass media such as television more precisely cable media to
target local customers. 8uravan)ara should also concentrate more on interior decoration
to compete with other competitors.
8uravan)ara should give all details regarding the pro=ect in website and also $5$ the
recent launches to target new customers.
8uravan)ara should also concentrate on ,.5 activities, such as loyalty to create strong
good will and gain new customer.

53
Concluion
2fter conducting customer satisfaction study on 8uravan)ara 8ro=ects 6imited it is found
that the company was successful in satisfying different needs of consumers, their valuable
suggestions are always accepted and the company tries to implement most of them,
responses to the different -uestions are answered promptly etc. ,ompany should also
consider the middle class people and cater their needs also.
5ost of the customers are somewhat satisfied with the services provided by the company.
The company has to redesign its services to ma)e the somewhat satisfied customers
e(tremely satisfied. The company should promote its website in such a manner that it
should be aware among everybody who are loo)ing for an apartment.
The -uality of the products is e(tremely good and the customers are agreeing it. <nly
problem is that the pricing and the services are not e(tremely satisfying the customers.
In order to get more attention, promotion and advertisement is needed. ,ompany can
ma)e use of their strengthsI brand image and wide distribution networ) all over India,
this will help the company to become success in the .eal estate mar)et of India.
54
./.0/12R#345 #6D #6(78R(
+I+%IOGRA$*3
55
Carnes, ;ames . (+'''), Secrets of Customer elationshi! #anagement< (t2s +ll
about 9ow Jou 5a)e Them Feel= 5craw*9ill.
E,ompany 8rofileE www.!uravan1ara.com. 8uravan)ara 8ro=ects 6imted. n.". @eb# +'
2pril +'&!.
erson, .ichard. (&>>!), #easuring customer satisfaction< + gui"e to managing
>uality service. ,ourse Technology ,risp.
;D power +'&! 9ome CuyerG$eller $atisfaction study (+'&!). 2vailable from
httpIGGwww.;"!ower.com
:en @est (+'&0), &' Factors That 2ffect ,ustomer $atisfaction, .etrieved from httpsIG
9omeG,ustomer $urvey @hite 8apersG&' Factors That 2ffect ,ustomer
$atisfaction
:othari ,.., (&>4"(.eprint +''!)). esearch #etho"ology. Few DelhiI
@ishwa8ra)ashan,
:otler 8hilip. (+''+), $rinci!les of #ar1etingI Few DelhiI $ultan ,hand and ,ompany
6td.
6TR ratios maintained by ban)s (+'&!). 2vailable from .eserve Can) of IndiaI
httpIGGwww.rbi.org.in
Fargund)ar .a=endra, (+''/), 5ar)eting .esearch, +
nd
7dition, Tata 5craw*9ill, Few
Delhi.
www.!uravan1ara.com.,ochinI D8roducts, $ervice and RisionE 8uravan)ara 8ro=ects
6imited, web, +4
th
;une +'&0.
ANN5FUR5
(# Do you 7no" about $uravan7ara builder@
56
a. Jes b. Fo
&# Are you ati!ied "ith $uravan7ara builder@
a. Jes b. Fo
)# Are you ati!y "ith !acility provided by $uravan7ara builder@
a. Jes b. Fo
8# Are you ati!y !rom the pricing o! $uravan7ara builder@
a. Jes b. Fo
9# Are you ati!y !rom the ecurity6 and other entrainment !acility provided by
$uravan7ara builder@
a. Jes b. Fo
B# ?hich cla o! cutomer targeting by the company@
a. #pper class
b. #pper middle
c. 5iddle lower
0# Are $uravan7ara builder group provide you loan !acility
a. Jes b. Fo
57
A# $leae rate the ?ebite o! the company on the given parameter
$arameter &.7(tremely
Dissatisfied
+.Rery
Dissatisfie
d
!.$omewhat
Dissatisfied
0.$omewhat
$atisfied
".Rery
$atisfied
/.7(tremel
y $atisfied
7ngaging and
5emorable
7(perience
raphics and
5ultimedia
Timely
.esponse to
Kuery
$ubmission
Favigation
oal
2chievement
#pdated and
accurate
>. Do you have any confusion regar"ing the source of the S#S:
('# $leae rate the 5D.ail ent by the company on the given parameter#
$arameter &.7(tremely
Dissatisfied
+.Rery
Dissatisfied
!.$omewhat
Dissatisfied
0.$omewhat
$atisfied
".Rery
$atisfied
/.7(tremely
$atisfied
8ersonalizatio
n
,ontent
.elevance
7asy
#nderstanding
((# $leae rate the S.S ent by the company on the given parameter
$arameter &.7(tremely
Dissatisfied
+.Rery
Dissatisfied
!.$omewhat
Dissatisfied
0.$omewhat
$atisfied
".Rery
$atisfied
/.7(tremely
$atisfied
8ersonalizatio
n
58
,ontent
.elevance
&+. Did you satisfy the 8ro=ect e(planation by .elationship 5anagerM
&!. 2ny suggestions for improvementM