PROJECT REPORT

(Submitted for the degree of B.B.A. Honours under the University of Calcutta)

TITLE OF THE PROJECT

A study on the prospect profiling of urban city with special emphasis on Ambuja Neotia

SUBMITTED BY

Name of the Candidate : Abhijit Saha

Registration No. : 017-1111-3542-17

C.U. Roll No. : 017-BBA18M-0003

Name of the College : The Bhawanipur Education Society College

Submitted on 1st June, 2020

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 ACKNOWLEDGEMENT
Words are indeed inadequate to convey my deep sense of gratitude to all those who have
helped me in completing my project to the best of my ability. Being a part of this project has
certainly been a unique and a very productive experience on my part.

I am really thankful to my mentor prof. Chiranjib Mitra for making all kinds of arrangements to
carry the project successfully and for guiding and helping me to solve all kinds of quarries
regarding the project work. His systematic way of working and incomparable guidance has
inspired the pace of the project to a great extent.

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 INTRODUCTION

REAL ESTATE SECTOR IN INDIA

The term ‘real estate’ is defined as land, including the air above it and the ground below it, and
any buildings or structures on it. It is also referred to as realty. It covers residential housing,
commercial offices, trading spaces such as theatres, hotels and restaurants, retail outlets,
industrial buildings such as factories and Government buildings. Real estate involves the
purchase, sale, and development of land, residential and non-residential buildings.

The main players in the real estate market are the landlords, developers, builders, real estate
agents, tenants, buyers etc. The activities of the real estate sector encompass the housing and
construction sectors also.

The real estate sector in India has assumed growing importance with the liberalization of the
economy. The consequent increase in business opportunities and migration of the labour force
has, in turn, increased the demand for commercial and housing space, especially rental
housing.

Developments in the real estate sector are being influenced by the developments in the
retail, hospitality and entertainment [e.g., hotels, resorts, cinema theatres) industries,
economic services (e.g., hospitals, schools) and information technology (IT)-enabled services
(like call centres) etc. and vice versa.

The real estate sector is a major employment driver, being the second largest employer next
only to agriculture. This is because of the chain of backward and forward linkages that the
sector has with the other sectors of the economy, especially with the housing and construction
sector. About 250 ancillary industries such as cement, steel, brick, timber, building materials
are dependent on the real estate industry.

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 The Indian real estate market is still in its infancy, largely unorganized and dominated by a
large number of small players, with very few corporate or large players having national
presence. The Indian real estate markets, as compared to the other more developed Asian and
Western markets is characterized by smaller size, lower availability of good quality space and
higher prices.
Supply of urban land is largely controlled by state-owned development bodies like the Delhi
Development Authority (DDA) and Housing Boards leaving very limited developed space free,
which is controlled by a few major players in each city.

Many of the over 100 laws governing various aspects of real estate date back to the 19th
century. Despite the plethora of laws, the situation appears to be far from satisfactory and
major amendments to existing laws are required to make them relevant to modern day
requirements.
REAL ESTATE IS A GROWING SECTOR IN INDIA
The real estate sector is one of the most globally recognized sectors. Real estate sector
comprises four sub sectors - housing, retail, hospitality, and commercial. The growth of this
sector is well complemented by the growth of the corporate environment and the demand for
office space as well as urban and semi-urban accommodations. The construction industry
ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all
sectors of the economy.

It is also expected that this sector will incur more non-resident Indian (NRI) investments in
both the short term and the long term. Bengaluru is expected to be the most favoured
property investment destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi
and Dehradun.

Estimated suggest that the urban housing sector would require investments to the tune of
$25 billion (Rs 1.10 lakh crore) over the next five years. Prices have remained buoyant as new
construction lags. According to surveys there is a shortage of 19.4 million units (12.7 million

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units in rural areas and 6.7 million units in urban areas) in the country about three years ago,
which will require real estate in India. Real estate in India will trigger economic growth
infrastructure development and enabling government policies would help trigger growth. Real
estate in India will help high economic growth has fuelled the demand for real estate. Cities
continue to attract interest from IT and ITES companies that are either establishing a base or
are looking to expand which will give rise to real estate developer in India. It is the suburban
locations that are witnessing development activity due to easier availability of land
construction of large floor plate and offer of built to suit facilities thus helping housing
construction company in India. According to one estimate the IT and ITES sector are creating
200,000 jobs per annum which itself will create a demand in commercial space of 15 million
square feet. Besides it will generate a huge demand for residential flats so more need for
luxury residential apartments in India.

Real estate in India assumes that 25 % of the work force joining the IT/ITES sector required
independent housing there would be demand for 50 million sq ft of residential
accommodation every year to meet the need of the workforce joining the IT/ITES sector alone.
The demand has been aided by the ease in documentation and formality of property
registration in India. It leads to boost property developer in India. The Indian realty sector
would see unchanged interest from NRIs aided by the relaxation in FDI norms in real estate.
The government has also helped by permitting banks to advance home loans to NRIs. The
report acknowledges that the government had also played a pivotal role in the development
of this sector .It had aided the sector by giving income tax benefits to consumer and benefits
to developers. It initiated the rationalization of stamp duty and repealed the Urban Land
Ceiling Act in 9 states. A number of state governments are moving towards computerization of
land records.

Real estate in India has a bright future .The report also pointed out certain issues, which need
to be addressed by the government to ensure rapid growth. Some of the issues are absence of
large listed companies in these sectors, which has affected fund flow. Foreign still cannot buy
or sell undeveloped land, and reassessment of the legal aspect to stamp duty and rent control.
At last, changing demographics, low interest rate regime, rising disposable income, and fiscal
incentives have provided huge demand for housing. Further nuclearization of Indian families
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has accelerate the demand for mortgages and for fresh housing thus give rise to more real
estate developer in India.

Political reforms in relation to real estate: The government is quite rational when it comes to
infrastructure and development in the country as it is required to achieve and maintain a
growth rate for the economy. The real estate sector being directly related to it, is being given
due importance. The government has made suitable amendments in the FDI regulations,
taxation structures and various land acts in order to attract more foreign investment into the
country.
Economic factors: The lower interest rates and ease of credit availability is fueling the demand
for real estate in the country. This scenario coupled with the huge potential for consumer
credit penetration in India is favoring the real estate sector.
Demographic factors: Demographic factors like increasing literacy rates, higher disposable
incomes, and increasing urbanization in the country are important factors propelling the
demand for real estate in the country. The above factors are going to generate huge demand
for residential space, which comprises 80% of the total real estate demand in the country.
PRESENT SCENARIO OF REAL ESTATE IN INDIA
The real sector in India today witnesses a wide spectrum of changes that slowly but surely is
expected to make India in to a preferred destination for real estate activity. The real estate
market in India is opening up. There are still some barriers to real estate development like
unclear titles, tenancy reforms and low property taxes. Two major steps taken by the
Government will however be key catalyst in fueling growth in real estate sector in INDIA. Now
with reputed builders like Ambuja, DLF, Merlin etc and international property consultants
joining the fray, this image has strengthened and evolves into a professional corporate image.
Recent moves to allow 100% Foreign Direct Investment in India. FDI would be in integrated
township which would include housing, commercial premises, hotels and resorts, while the
urban infrastructure would comprise roads and bridges mass rapid transit system and
manufacture of building material. The minimum average that can be developed is 100 acres
designed keeping into consideration the local byelaws and regulations. FDI is not allowed in
retail sector. Currently, real estate prices have stabilizes to a great deal as a role played by
speculation has started declining. There a lot of change being introduce in the Indian real
estate sector especially with the cheap labor, pool of people. Other major event is the
introduction of real Estate Investment Trust (REIT).

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Currently mutual fund are not allowed to have direct exposure in real estate but can make
debt and equity investment in the company. The Indian version of REIT-REIS (Real estate
investment scheme) would enable investment by small investors in the real estate sector and
thus earn dividends on the rental income being paid. The fiscal incentives introduce by
government introduce 3 years ago have unleashed the market forces. The credit of housing
has gone up and interest rates have come down to 8-9% average. With fiscal incentives and
factoring inflation the real interest rates on housing loans is very less. This has brought in a sea
change in the profile of the home purchaser across the spectrum. The average age of the
home buying customer has been drastically reduced. It has been found that young working
people in early and mid 20 also buying residential flats. The other major changes witnesses in
the real estate industry currently are the reorganization of country status itself .

The Government of India has made it mandatory that 3% of the incremental deposits of the
banks would be deployed to the housing industry. Today real estate office market is 8 8
booming IT AND ITE ‘s segment. With lower operating costs being the driver office property
have moved from Central Business Districts to suburbs to Class I cities and this market is
continue to expand in Tier II and tier III cities. Real estate sector is still facing the main problem
of high stamp duty in Indian states. These range in most Indian cities between 10% to 15%
Some states even have double stamp incidence first on land and then on its developments
even National Housing and Habitat Policy 1998 recommend stamp duty of 2-3%. Its needed to
be reduced by taking the recommendation into consideration which is mentioned in the report
otherwise this increasing rates of stamp duty and land cost will give rise to parallel economy
which lead to huge loss of government revenue.

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FUTURE OF REAL ESTATE IN INDIA
By 2040, real estate market to grow to Rs 65,000 crore (US$ 9.30 billion) from Rs 12,000 crore
(US$ 1.72 billion) in 2019. Real estate sector in India is expected to reach a market size of US$
1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13 per cent of the country’s GDP
by 2025. Retail, hospitality and commercial real estate are also growing significantly, providing
the much-needed infrastructure for India's growing needs. Indian real estate increased by 19.5
per cent CAGR from 2017 to 2028. Sectors such as IT and ITeS, retail, consulting and e-
commerce have registered high demand for office space in recent times. Commercial office
stock in India is expected to cross 600 million square feet by 2018 end while office space
leasing in the top eight cities is expected to cross 100 million square feet during 2018-20.
Gross office absorption in top Indian cities has increased 26 per cent year-on-year to 36.4
million square feet between Jan-Sep 2018. Co-working space across top seven cities has
increased sharply in 2018 (up to September), reaching 3.44 million square feet, compared to
1.11 million square feet for the same period in 2017. New completion of office space is
expected to increase 15 per cent to cross 43.6 million square feet in 2019.

The Indian real estate sector has witnessed high growth in recent times with the rise in
demand for office as well as residential spaces. Private Equity and Venture Capital investments
in the sector have reached US$ 1.47 billion between Jan-Mar 2019. Institutional investments in
India’s real estate are expected to reach US$ 5.5 billion for 2018, the highest in a decade.
Between 2009-18, Indian real estate sector attracted institutional investments worth US$ 30
billion and received US$ 2.3 billion in first half of 2019. Real estate attracted around US$ 14
billion of foreign private equity (PE) between 2015 and Q3 2019. During April-June 2019, the
gross leasing of office space doubled to 18.7 million sq ft across eight major cities.

According to data released by Department of Industrial Policy and Promotion (DIPP),

construction is the fourth largest sector in terms of FDI inflows. FDI in the sector (includes
construction development and construction activities) stood at US$ 25.12 billion from April
2000 to June 2019. Some of the major investments and developments in this sector are as
follows:

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First REIT raised Rs 4,750 crore (US$ 679.64 million) and was launched earlier in 2019 by the
global investment firm Blackstone and realty firm Embassy group. In January 2019, Ascendas
acquired Chennai's Pallavaram IT Park for US$ 35.70 million. Iconic RK Studios property which
is located in suburban Chembur, acquired by Godrej Properties. New housing launches across
top seven cities in India are expected to increase 32 per cent year-on-year by 2018 end to
193,600 units.

In September 2018, Embassy Office Parks announced that it would raise around Rs 52 billion
(US$ 775.66 million) through India’s first Real Estate Investment Trust (REIT) listing.
New housing launches across top seven cities in India increased 50 per cent quarter-on-
quarter in April-June 2018.

In May 2018, Blackstone Group acquired One Indiabulls in Chennai from Indiabulls Real Estate
for around Rs 900 crore (US$ 136.9 million). In February 2018, DLF bought 11.76 acres of land
for Rs 15 billion (US$ 231.7 million) for its expansion in Gurugram, Haryana. The Government
of India along with the governments of the respective states has taken several initiatives to
encourage the development in the sector. The Smart City Project, where there is a plan to
build 100 smart cities, is a prime opportunity for the real estate companies. Below are some of
the other major Government Initiatives:

In order to revive around 1,600 stalled housing projects across the top cities in the country,
the Union Cabinet has approved the setting up of an Rs 25,000 crore (US$ 3.58 billion)
alternative investment fund (AIF). Blackstone crosses US$ 12 billion investment milestone in
India. Puravankara Ltd, a realty firm plans to invest around Rs 850 crore (US$ 121.6 million)
over the next four years to develop three ultra-luxury residential projects in Bengaluru,
Chennai and Mumbai. Under Pradhan Mantri Awas Yojana (Urban) [PMAY (U)], 1.12 crore
houses have been sanctioned in urban areas creating 1.20 crore jobs.
Government has created an Affordable Housing Fund (AHF) in the National Housing Bank
(NHB) with an initial corpus of Rs 10,000 crore (US$ 1.43 billion) using priority sector lending
short fall of banks/financial institutions for micro financing of the HFCs.

As of September 16, 2019, India had formally approved 419 SEZs, of which 234 were in
operation.
In February 2018, creation of National Urban Housing Fund was approved with an outlay of Rs
60,000 crore (US$ 9.27 billion).
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The Securities and Exchange Board of India (SEBI) has given its approval for the Real Estate
Investment Trust (REIT) platform which will help in allowing all kinds of investors to invest in
the Indian real estate market. It would create an opportunity worth Rs 1.25 trillion (US$ 19.65
billion) in the Indian market over the years. Responding to an increasingly well-informed
consumer base and, bearing in mind the aspect of globalisation, Indian real estate developers
have shifted gears and accepted fresh challenges. The most marked change has been the shift
from family owned businesses to that of professionally managed ones. Real estate developers,
in meeting the growing need for managing multiple projects across cities, are also investing in
centralised processes to source material and organise manpower and hiring qualified
professionals in areas like project management, architecture and engineering.

The growing flow of FDI into Indian real estate is encouraging increased transparency.
Developers, in order to attract funding, have revamped their accounting and management
systems to meet due diligence standards.

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ABOUT THE COMPANY

Ambuja Neotia is one of the most prominent and respected corporate houses headquartered
in Kolkata. The company- with its strong forte in real estate, hospitality, healthcare, education
and Start-up incubation under the leadership of Shri Harshavardhan Neotia – has been
responsible for landmark projects in and around Kolkata. The unprecedented success of its
maiden project Udayan, Kolkata’s first Condoville built on Public-Private Partnership model,
drew great attention and eventually earned Shri Harshavardhan Neotia, the honour of being
bestowed with Padma Shri in 1999. Uttorayon, was the group’s first township project in Siliguri
which garnered much praise and attention for the unique model and scale. The continuous
evolution by the Group has quite successfully transformed the pastoral hamlet Raichak on
Ganges as Eastern India’s most versatile leisure destination. Ambuja Neotia came up with the
concept of “where work meets life” with its first commercial project Ecospace in Rajarhat,
Kolkata, which is a Green Building certified by LEED. The group revolutionized the concept of
shopping malls by creating City Centre Salt Lake.

The group also pioneered the cause of woman and child healthcare by setting up Bhagirathi
Neotia Woman and Child Care Centre in Kolkata and also set up Neotia Getwel Healthcare
Centre, a multi-specialty hospital in Siliguri. Besides, with a desire to contribute to the
advancement of education in Bengal, Ambuja Neotia established The Neotia University.
Aligning with Startup India – an initiative of the Government of India, Ambuja Neotia sets up
Neotec Hub, an incubation centre providing guidance to bright and enthusiastic
entrepreneurs.

Ambuja Neotia is known to pay special emphasis to

design and aesthetics in a way that their projects are
enduring and appealing as well as sustainable and viable
for the future. In their pursuit of creating delight through
spaces, it has also partnered with a bouquet of ace architects like Charles Correa, The
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Balkrishna Doshi, Kapil Bhalla, Channa Daswatte to name a few. Group also has several
projects in Eastern India as well as other parts of the country in the pipeline and is continuing
to live by its maxim of making a difference to the way people live.

The Group’s journey, under the stewardship of Shri Harshavardhan Neotia, started nearly two
decades ago with a simple mission – to make a difference to the way people live.

Bengal Ambuja was initiated with support from the Government of West Bengal, as one of the
first joint sector companies in the state. This led to the creation of a pioneering Public-Private
Partnership which holistically addresses housing demand across all sections of society through
a cross-subsidised model that allocates 50% of all the homes for LIG and MIG, with the rest for
HIG. The success of Udayan on the E M Bypass, inspired the Group to create Ulhas in
Bardhaman, Urvashi in Durgapur, Utsa in New Town, Kolkata, Uttorayon in Siliguri, Upoban in
Santiniketan, Ujjwala in New Town, Kolkata and Upohar, off the EM Bypass, Kolkata. Utalika –
The Condoville, our new project, offers artistically crafted and tastefully designed apartments
that are surrounded by lush green open spaces. With City Centre Salt Lake, the Group’s first
venture in retail space, the mall concept was revolutionised. Ecospace Business Park was
developed to give the city smarter, greener work spaces for better work-life balance.

Ambuja Neotia ventured into hospitality segment with the same passion for excellence,
creating memorable experiences for customers. The Conclave was Harshavardhan Neotia’s
maiden entrepreneurial venture in hospitality. Today, the brand has been extended
through Club Verde at Kolkata which offers world-class clubbing experience and other luxury
facilities.

The Fort at Raichak-on-Ganges was the Group’s first stride into hotels. It is a luxury riverside
resort with 112 tastefully appointed rooms and suites, having extensive conferencing and
banqueting facilities. Ganga Kutir also at Raichak is an idyllic getaway designed to redefine
luxury.
On the other hand, Swissotel Kolkata Neotia Vista is a 5-star business hotel located at City
Centre, New Town – the very heart of Kolkata’s emerging urbanscape.
Hotels Ecohub and Montana Vista, in Kolkata and Siliguri respectively, are ideal destinations
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for business meets, conferences, leisurely get-togethers and for spending quality time with
family or one’s own self. Altair is a 4 star boutique hotel of the Group located in the heart of
the IT hub in Salt Lake Sector V, Kolkata, comprising contemporarily designed rooms and sky
lounging facilities. RaajKutir, the newest offering, is a luxury boutique hotel, with a theme that
is inspired from the Bengal Renaissance era, perfectly suited for the global traveller.

In the F&B space, Ambuja Neotia Hospitality operates in Smart Dine, QSR and Banquets. Its
restaurants include – Sonar Tori (Curated Bengali Cusine), The Orient (Authentic Chinese
Cusine) and Afraa (Mediterranean) represents casual smart dining space. In the QSR segment,
the brands operated include Tiffin, Hangout (Food Court), Tea Junction (India’s first and
Leading Tea Chain) , Afraa Creperie and Afraa Deli. And also, the Group operates few
independent banquets.

Exploring a Pan India F&B presence, the Group recently partnered UNO to create a mark in the
smart casual dining category. Both UNO and Ambuja Neotia have thus embarked on a journey
to create an exclusive dining and lounging experience in India.

With a strong sense of social commitment, Ambuja Neotia Group extends its capabilities
towards the development of education as well. Harshavardhan Neotia, the Chairman, had long
nurtured a dream of leveraging the Group’s potential in the advancement of education. Thus,
as a representative Ambuja Neotia initiative, The Neotia University, seeks to epitomise
distinction and integrity in the academic field. At the same time, The CII-Suresh Neotia Centre
of Excellence for Leadership serves as a facilitator for development of leaders, thereby
promoting economic and industrial growth in India and, especially, the Eastern Region.

With an intent to reach out to the largest number of people possible, Neotia Healthcare
Initiative Ltd., a Public Limited Company has been launched to consolidate all healthcare
activities under one corporate division, where the experience gained by the group in its
diverse activities could be put to use to build healthcare institutions that would carry all the
hallmarks of the many successful ventures of the Neotia family & the Ambuja Realty group.
This division has been set up by the group’s Chairman, Mr. Harshavardhan Neotia.

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The Bhagirathi Neotia Woman & Child Care Centre – the super-speciality hospitals at Rawdon
Street and New Town, offering the most advanced facilities for woman and child health care in
eastern India. An
ambitious expansion plan has been charted out which will see each of the verticals of the
healthcare division, converted to multi-point resources, or chains, within a strong corporate
structure. An effective beginning has already been made with several branches of the
infertility treatment unit Genome-The Fertility Centre spread across West Bengal and
neighbouring states like Chattisgarh, the multispecialty hospital, Neotia Getwel Healthcare
Centre in Siliguri and outlets of Neotia Mediplus, diagnostic centres in Kolkata.

HISTORY OF THE COMPANY

UPTO 1950’S

Vinod Kumar Neotia Suresh Kumar Neotia

The Neotia family has been an integral part of the business scene in Kolkata for nearly 120
years. Originating from Rajasthan, their forefathers settled in the city some time in 1890s,
being attracted to the opportunities for enterprise that the city offered. Since then, Kolkata
has been their home and subsequent generations have been born and brought up here.

1950 – The founders

Patriarchs of the Ambuja Neotia Group, Late Shri Suresh Neotia and Late Shri Vinod Neotia
started their entrepreneurial career in the mid-1950s. Their eldest brother Shri Bimal Kumar
Poddar was adopted by their maternal grandfather Shri Janki Prasad Poddar, a partner of the
celebrated firm “Tarachand Ghanshyamdas”. This was probably one of the first wholly Indian
registered partnership firms during the time of the British occupation of India. It was a trading
firm that had offices right from Karachi in Pakistan to Shanghai in China. It began with interests
in banking and insurance and later diversified into distribution of petroleum products, as a
franchisee of Burma Shell.
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Subsequent to dissolution of “Tarachand Ghanshyamdas”, the three brothers Late Shri Bimal
Kumar Poddar, Late Shri Suresh Neotia and Late Shri Vinod Neotia set up “Radhakrishna Bimal
Kumar” in the mid-1950s. As a leading franchisee of Burma Shell in the country, it operated
out of several branches spread across UP, Bihar and West Bengal.

1970-1980
RKBK Expansion

Following the sad demise of Shri Bimal Kumar Poddar in 1968, Late Shri Suresh Neotia and Late
Shri Vinod Neotia took charge of the family business. Under their leadership “Radhakrishna
Bimal Kumar” continued its expansion with major forays in trading operations of cement,
fertilizers and

petroleum products. Having a gross turnover of Rs.500 crores by the early 90’s, it continues to
maintain a steady growth. Parallel to these, other ventures of the Neotia family included a
textile mill in West Bengal and highly profitable collieries which were later nationalised. They
also promoted an engineering firm “Macmet India Limited” which engaged in engineering
contracts and software solutions.

1980-1990
Ambuja Cements

Narotam Sekhsaria

The two brothers, relying on their vision and vast experience joined hands with Mr. Narotam
Sekhsaria, brother of Bimla Poddar (wife of Late Bimal Kumar Poddar), to promote “Gujarat
Ambuja Cements Limited (GACL)” in the mid 80’s. In a few years the company earned Blue
Chip status and became a leader in the cement industry. The Group came up with the city’s
first business club “The Conclave” where work and pleasure met in an atmosphere of grace.

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1990–2000
The Rise of a Legend

Harshvardhan Neotia

Under the stewardship of Harshavardhan Neotia, the group made its foray in realty and
hospitality sectors. The Group’s first residential project Udayan-The Condoville, a JV with the
Government of West Bengal, established new benchmarks in Public-Private Partnership to
promote social housing and was declared a Model Housing Project by HUDCO. Mr. Neotia was
honoured with Padma Shri by the President of India in 1999.

Simultaneously, the Group came up with its most ambitious hospitality project “Raichak on
Ganges” in the 90’s on a land parcel as expansive as 100 acres.

In late 90’s, Modi Cement, which had become sick was taken over by GACL
and Harshavardhan Neotia, son of Late Shri Vinod Neotia and the only male
heir of the family, was appointed as MD of the newly formed “Ambuja Cement Eastern
Limited”. Continuing the family tradition of excellence, he was able to execute a remarkable
turnaround transforming the erstwhile sick company into one of the most profitable and
efficient cement manufacturers in the country.

In the same year they made a strategic investment in ACC, India’s oldest and most prestigious
cement company by acquiring about 14.51% stake.

2000–2005
New Beginnings

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 Swabhumi Bhagirathi Neotia Women & Child Care Centre

Bhagirathi Neotia Women & Child Care Centre (BNWCCC) was launched in the year 2000 as
the Group’s first healthcare initiative, offering the most advanced medical facilities for women
and children, in Kolkata. Expansion in the hospitality sector continued with the establishment
of “Swabhumi- the Heritage Plaza”, which showcased craft and culture from different parts of
the country.

The Group made its foray into retail with City Centre Salt Lake, a signature
property of the Group, designed by Master Architect, Mr. Charles Correa in the year 2004,
probably his only mall project.

In the year 2005, Holcim, the world’s largest cement company joined the Ambuja Group.
Together they took control of ACC. The following year the promoters divested a substantial
portion of their stake in GACL in favour of Holcim and handed over its management control.

2005–2010
The Neotia Effect

Ecospace Ujjwala City Centre

Following the diversification of business operations the group rebranded itself as “Ambuja
Realty” and wholeheartedly dedicated itself into the domains of residential properties, retail
parks, hospitality, business parks, healthcare and education.
Few of the Group’s landmark projects were developed in this phase, viz. City Centre New
Town , Swissotel, Ujjwala, and Ecospace. These projects paved the way for the development of
New Town making them symbolic with the place’s history. Ambuja Neotia then expanded its

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business beyond Kolkata and made its presence felt in other states. A joint venture with Luxmi
Township Ltd, Uttorayon was the group’s first residential township in Siliguri and was built
on a property of 400 acres. The Group also had its maiden retail venture with City Centre
Siliguri which opened in the year 2009. To give a distinct direction to the brand’s individuality,
the group decided to merge ‘Ambuja’ with the illustrious ‘Neotia’ family name and change its
corporate name to Ambuja Neotia.

2010-2015
Business Expansion

Neotia Getwel Healthcare Centre Genome-The Fertility Centre

Retail business experienced expansion with the establishment of City Centre Haldia and City
Centre Raipur. Besides, other commercial projects viz. Ecostation and Ecosuite were
completed in this period.
On the healthcare front, Neotia Getwel Healthcare Centre, a multi-specialty hospital was built
in Siliguri and Genome- the Fertility Centre was independently launched in the year 2013.

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2015 – Present Years
Ambuja Neotia 2.0

Altair Sonar Tori

Following the demise of industry doyen Suresh Neotia, the Group leadership passed to
Harshavardhan Neotia. The Group established The Neotia University, offering new-age courses
and holistic education. The Group launched the flagship 20-acre Utalika project (Kolkata) in
2015 comprising landscaped greens, nature trails and natural lakes with high-end lifestyle
features.

The Group created Neotec Hub in 2017, and incubation centre for guiding young
entrepreneurs, a collaboration with the Startup India initiative of the Central Government.

The Group introduced Altair, a unique boutique hotel, in Sector V (Salt Lake) in 2017. The
Sonar Tori restaurant specialising in Bengali cuising, and The Orient, specialising in Chinese
cuisine, were launched at City Centre Salt Lake in 2018.

Afraa was relaunched with a new avatar at City centre Salt Lake.

Bhagirathi Neotia Woman and Child Care was launched at New Town.

Raajkutir was inaugurated at Swabhumi. Ambuja Neotia acquired the master franchise of UNO
Chicago Bar & Grill with Dhunseri Petrochem and launched three pizzeria outlets in Kolkata,
Noida and Bengaluru.

19 | P a g e
 SWOT ANALYSIS OF AMBUJA NEOTIA

STRENGHTS:-

 Strong brand value and presence

 Strong proven track record for quality and commitment
 Well diversified portfolio of the company.

WEAKNESSES:-

 Political intervention affecting growth of the company

 Some of the commercial projects are not strategically located.

OPPORTUNITIES:-

 Tax reform i.e. GST will streamline more focused growth with better tax management.
 Opportunity for growth in south and western region of India.
 Strategic approach through merger and acquisition.

THREATS:-

 Rising inflation
 Economic slowdown
 Stringent Government and Environmental norm and regulation
 Immense competition.

LITERATURE REVIEW

Graeme Newell and Rajeev Kamineni in their research paper assessed the risk-adjusted
performance and portfolio diversification benefits for the real estate markets (office, retail and
residential) of New Delhi and Mumbai. The real estate markets were found to under- perform
the stock market in India over 1998-2005, with most markets improving their  performance in
more recent years, although there was some loss of portfolio diversification benefits for office
20 | P a g e
and residential real estate with stocks. Deregulation of the capital markets and international
investment in India is also likely to have a significant impact on future FDI levels and the
growth of real estate funds for real estate investment in India. They also studied that off
shoring in the cities like Delhi and Mumbai has created huge demand for better infrastructure.
This area of off shoring has significant real estate investment issues; particularly concerning
technology parks, access to Grade A office space.
They have also concluded that deregulation of the Indian capital markets
since 2004, and less restrictive guidelines for foreign direct investment in real estate in India
since February 2005 have seen significant improvements in the real estate investment
environment in India for both local and international players. This has taken on increased
importance as India significantly expands its economic growth to potentially be the world’s
third largest economy by 2020, and international real estate investors seek global investment
opportunities; particularly in the emerging Asian real estate markets. The expected
development of REITs in India in the next few years will also expand the real estate investment
opportunities available in India.

Vandna Singh and Komal (2009) in their research paper found that as the GDP increases the real
estate prices also increases because there is a high degree of Positive correlation between the
real estate prices and GDP. The Real estate prices also increases with increase in the per capita
income as there is high degree of positive correlation between these two. The FDI into the
country affects the real estate FDI and real estate having a positive correlation leads to the
boom in this sector. Increase in FDI from 2006 to march 2007 is 10%. Earlier it was 16% and
now in 2008 it is 25%.The interest rate also affects the real estate prices because it affects the
lending and borrowing by the investors. In residential segment, availability of easy home
finance and rising purchasing power has driven the growth. Builders are launching high-end,
life style residential products to cater to the growing bunch of high net worth individuals. They
suggested that due to high prices the lower income group is not able to purchase the land, so
govt. should take measures to protect the lower income group. The investors should analyze
the type of land in which they are going to invest and the potential Returns from it. Due to lot
of investment avenues in real estate in India, fraud cases are also increasing day by day like in
Delhi deconstruction of buildings. Thus careful measures and laws should be enacted to deal
with these types of situations.

Natalija stated that Advantage India: Real estate is one of the fastest growing sectors in India.
Market analysis pegs returns from realty in India at an average of 14% annually with a
tremendous upsurge in commercial real estate on account of the Indian BPO boom. Lease
rentals have been picking up steadily and there is a gaping demand for quality infrastructure. A
significant demand is also likely to be generated as the outsourcing boom moves into
the manufacturing sector. Further, the housing sector has been growing at an average of 34%
annually, while the hospitality industry witnessed a growth of 10-15% last year.
21 | P a g e
Jim Berry stated that the highest and best use analysis is another component of property
investment analysis, especially in the case of vacant land or deteriorated property that needs
to be redeveloped. Highest and best use is defined as the most profitable use at which a site
can be developed. Thus, highest and best use analysis is usually carried out for land sites that
are acquired for development purposes. A site’s highest and best use will depend on a number
of factors including site physical characteristics, its location, make up and purchasing power of
the population in its area of influence, competitive projects in its area of influence, market
conditions and prospects at the time of analysis, and other factors. If the land site is zoned  in
an urban use, the highest and best use analysis will focus on the feasibility and profitability of
developing the alternative allowable uses.

As stated by NargisNamazi (2011) in an article published in Business Review – across the

world, the construction industry is witnessing a tremendous boom and India is no exception!
Government polices and expenditure in infrastructure, training and regeneration projects have
helped the sector grow at high levels and the same pace is likely to be seen in the coming
year too. This industry comprises of many components including construction of heavy and
civil engineering (highways, bridges, railway tracks, airports etc.),real estate ( both residential
as well as commercial) development, and specialized construction products( such as
architectural products, electric connections, decorative items , etc.).The
Construction industry is currently growing at 10% per cent per annum and has a size of 70
billion dollars but with the huge investment in the construction industry, tremendous growth
opportunities are expected.

Araghadeep Laskar and CVR Murthy (2011) state that the construction industry is the second
largest industry of the country after agriculture. It makes a significant contribution to the
national economy and provides employment to large number of people. The use of various
new technologies and deployment of project management strategies has made it possible to
undertake projects of mega scale. In its path of advancement, the industry has to overcome a
number of challenges. However, the industry is still faced with some major challenges,
including housing, disaster resistant construction, water management and mass
transportation. Recent experiences of several new mega-projects are clear indicators that the
industry is poised for a bright future.

According to NiranjanHiranandani, Managing Director, Hiranandani Constructions (Project
Manager, 2011), “the National Housing and Habitat Policy of the Government of India was
passed in October 1998 by Parliament. It talks about issues like liberalization in the housing
sector. What we need to do now is to first scrap the Urban Land Ceiling Act. The central
government has already scrapped the Act, but many states, including Maharashtra, have not
followed suit. If this is done, more land will be available for development. The second
22 | P a g e
major thing is stamp duty. Fortunately for us, Maharashtra has reduced the stamp duty on
commercial properties from 10 per cent to 5 per cent, and for residential properties from 8
per cent to 5 per cent. The third important factor is the sanction of building plans. But since
this process is riddled with corruption, it is difficult to clear plans or procure non-agricultural
land. If these steps are taken, some problems faced by the real estate industry will be solved.”

According to K. K. Kapila, Chairman and Managing Director of ICT Pvt. Ltd. (2011),
our construction industry suffers from capacity constraints, lack of trained manpower and
managerial skills with performance much below international level. Though there are islands
of excellence in a sea of mediocrity, our companies must become global players by
modernizing, intensive training of their manpower, enhancing their turnover and change of
mindset. The industry is starved of finance. Small and medium contractors do not have the
wherewithal to upgrade their capability, both hard and soft, to undertake high value time
bound projects. FIDIC conditions are not being rigorously followed and the contract
agreements continue to be heavily loaded in favor of the owner/client. Quality, safety,
environment and social aspects are also not being addressed appropriately.

According to Drake MacDonald (2011), like many emerging countries, India has a problem

with faulty construction. Sadly, the primary reason there are so many poorly constructed
buildings in India is due to greed. However, what makes matters worse is that greed is not
isolated to one particular segment such as builders or workers, but to the construction
industry in India as well a whole. Builders looking for cheap and quick ways to build often
skimp on materials, while the low wages received by contract workers encourages them to do
little as possible and take no pride of their work.
Even the government is guilty of greed, as officials often pocket bribes in exchange for
awarding contracts or looking the other way. Clearly the problem in India is not that there is a
lack of regulation, but merely lack of enforcement for existing regulation.

Iyer K. R. (2011) remarked in his report that India today is facing a unique challenge
of dealing with high inflation, while continuing high growth. Boosting of supply in all industries,
including incentivizing of infrastructure development, streamlining of regulatory process to
reduce time and costs of business and tax incentives for low cost housing are all important
areas which will help reduce inflation and also enable growth rates to be maintained.
Infrastructure remains a vital sector for India’s growth story, which was reiterated by country’s
Finance minister (FM) Pranab Mukherjee in his budget 2011-2012. Construction projects in
various areas like road, low-cost housing, ports and airports, bridges and special economic
zones (SEZ) will propel the growth and order book of construction companies.

23 | P a g e
 HemantaDoloi and et.al (2012) have identified factors that cause delay in construction
projects in India .From the factor analysis most critical factors of construction delay were
identified as

 Lack of commitment

 Inefficient site management

 Poor site coordination

 Improper planning

 Lack of clarity in pro5ect scope

 Lack of communication

 Substandard Contract.

Regression model indicates slow decision from owner, poor labour productivity, architects'

reluctance for change and rework due to mistakes in construction are the reasons that affect
the overall delay of the project significantly. These findings are expected to be significant
contributions to Indian construction industry in controlling the time overruns in construction
contracts.

According to Singh Pradeep (2011), in a giant industry like construction, there are many
strains due to peculiarly irrational risk-sharing arrangement couples with its competitive
character. Today there are increasing disputes and differences arising out of contractual
relations between contractors and owners whether owners are individual, firms or public.
Construction contracts have very sensitive arrangement of weaving many different agencies to
perform various obligations to execute job. Because of complexity of such interwoven
responsibilities, superimposed by statutes, monitored by environmentalists, exposed to
vagaries of nature and uncertainties of markets, it could be a miracle if any construction
project can come out without getting greatly distorted on time-money or concept scale. He
has identified the following four categories of factors that lead to dispute and delay in
construction projects:

 Changes include Additions, Alterations, Variations, Deletions.

 Delays and suspension.

24 | P a g e
  Different Site conditions.

 Unjust enrichment by owners.

According to G.K. Kulkarni (2012) construction workers are exposed to a wide variety of health
hazards at work. The exposure differs from job to job. The work related diseases form 5% to
20% of work force. He identified some common problems of construction workers to be
physical injuries, hazards from harmful chemicals, dusts, mists, gases and biological hazards
such as malaria, dengue, etc.

Prof. Deelip Kumar M. (2006) has made the following suggestions for improving the conditions
of labourers in construction industry:

 Investigate the abuse and exploitation of labourers by agents and employers and prosec
ute such agents and employers.

 Create awareness of construction labourer's rights and set up mechanisms of redressal.

 Ensuring decent working conditions and proper contract systems and providing basic
health care for construction labourers.

 Adequate intervention from the government authorities required ensuring the health,
safety and welfare of the construction labourers.

 Effective implementation of the labour laws that making provision of better health,
safety and welfare of the construction labourers.

 NGO's working for child welfare should consider the difficulties of the construction
labourers and plan strategies to ensure free education of these children.

 NGO's working should extend open education to the labourers and to alleviate atrocities

against them.

 Organize public medical camps where constructions sites are located

 Constant inspection from the government part is required to reduce the plight of the
construction laborers.

 Constructive support from the trade unions to the construction laborers to be ensured
where the government and management couldn't support.
25 | P a g e
  Encourage the construction labourers saving habit by initiating thrift and banking
awareness.

 Ensure adequate insurance facilities for the construction laborers.

Aggarwal S. (2003) concludes that the construction industry of the developing countries will
face major challenges in future. Those which are often highlighted and considered relate to
the resource shortage and industry itself. Their research paper argues that issues which are
not normally considered to be relevant to developing countries are, indeed of significance to
them, and some may be critical. It is necessary for more work to be done on the issues of
globalization, the environment, and the various aspects of culture as they relate to
construction activity, construction enterprises and the construction industry in developing
countries. The overarching issue of construction industry development should embrace all
these issues. In other words, the developing countries should seek to develop construction
industries which are well-poised to benefit from globalization (rather than those which are
victims of this inevitable process where construction is concerned), enterprises and
practitioners which are aware of, and activity seek to limit, the negative environmental impact
of their activities, and which effectively apply the local culture to facilitate their efforts
towards achieving success on their projects.

RESEARCH OBJECTIVES
The purpose of research is to discover answer to question through the application of scientific
procedures. The main aim of research is to find out the truth which is hidden & which has not been
discovered yet.
26 | P a g e
However, each research study has its own specific purpose. There are several common objective of
research as follow:-

 To know about the customer’s awareness level and source of getting information while
purchasing their dream house.

 To know about the customer’s preference from the brands of real estate.

 To know about the customer’s preferable budget range based on their per month income.

 To know about the customer’s preferable property size range based on their budget and per
month income.
 To know about the customer’s purpose of buying the property.

 To know about the factors which influence the customer’s the most while purchasing their
dream house.

 To know about the customer’s particularity about the cost of maintenance.

 To know about the most preferable property type of the customer’s based on their per month
income, preferred size and budget range.

RESEARCH METHODOLOGY
1. Data is raw, unorganized facts that need to be processed. Data can be something simple and
seemingly random and useless until it is organized. When data is processed, organized, structured or
presented in a given context so as to make it useful, it is called information.
27 | P a g e
2. The Research Methodology that has been adopted is a mixture of qualitative and quantitative
research. Qualitative Research are those kind of research which consist of non scaled data, when we
are structuring a person’s attribute, personality, behavioral traits which can’t be scaled that provide a
person understanding about any incident or product. A quantitative research consist of scaled data
which can be changed, structured, processed and can be converted into validated information.

The scaling technique that has been adopted is a combination of parametric and non
parametric scaling techniques. Parametric Scaling Techniques consists of nominal and ordinal scale
and non parametric scaling technique consist of interval and ratio scale. In this project only nominal,
ordinal and internal scale has been used along with likert scale.

In this project the research design that has implemented and framed is a combination of
exploratory and descriptive research design. We are not using causal research design because we are
not framing any cause and effect relationship.

It is an exploratory research design because in some horizons we are exploring unknown

problems and trying to figure out the solutions. It is also a descriptive research because we are
describing some of the known problems for a better understanding and to get accurate and noise free
results.

1. SAMPLE SIZE - 100

2. SAMPLE UNIT- The people who are in the age group of 20 to 35 who is employed.

3. STATISTICAL TOOLS - pie chart

4. STATISTICAL SOFTWARE- Ms Excel, Ms Word

The questionnaire that has been used is a combination of open ended and close ended questionnaire.

LIMITATIONS OF THE STUDY

1. There was lack of reliable and available data due to which I had to limit the scope of my
analysis, the size of my sample and it acted as a significant obstacle in finding a trend and a

28 | P a g e
meaningful relationship.

2. Getting appointment from the concerned person was very difficult.

3. People’s mind set about the survey was an obstacle in acquiring complete information as
the respondents were very busy in their schedule. So it was very time consuming for collecting
information & for positive interaction with them to answer all the questions properly.

4. The sample size also acted as an obstacle while doing the project. It took lots of time to
understand what the sample size would be. If my sample size would have been too small, it
would have been difficult to find significant relationships from the data, as statistical tests
normally require a larger sample size to ensure a representative distribution of the population
and to be considered representative of groups of people to whom results will be generalized
or transferred.

5. Time allotted for the project was not sufficient to go for detailed analysis of the research
problem.

DATA ANALYSIS AND INTERPRETATION

1. Age:
29 | P a g e
 AGE

35

30

25

20

15

10

0
21-30 31-40 41-50 51-60 Above 60 years

AGE (%)

Above 21-30
60 years 8%
7% 31-40
51-60 20%
30%

41-50
35%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed 8% of the
people are among the age group 21‐ 30, 20% are among the age group 31‐40, 35% are among
the age group 41‐50, 30% are among the age group 51‐60, 7% are among the age group of
above 60 years.

2. Gender:

30 | P a g e
 GENDER

70
60
50
40
30
20
10
0
MALE FEMALE

GENDER (%)

FEMALE
35%

MALE
65%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed 65% of the
people are male and 35% of the people are female.

3. Occupation:

31 | P a g e
 OCCUPATION

45
40
35
30
25
20
15
10
5
0
BUSINESS SERVICE OTHERS

OCCUPATION (%)

OTHERS
20% BUSINESS
35%

SERVICE
45%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed 35% of the
people are having business, 45% are having service and 20% are having some other
occupation.

4. Income per month:

32 | P a g e
 INCOME PER MONTH

35

30

25

20

15

10

0
10000-40000 40001-70000 70001-100000 MORE THAN 100000

INCOME PER MONTH (%)

10000-40000
MORE THAN 18%
100000
16%

40001-70000
70001-100000 34%
32%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed 18% of the
people are among the income group of Rs.10000‐40000, 34% are among the income group of
Rs. 40001‐70000, 32% are among the income group of Rs.70001‐100000 and 16% are among
the income group of more than Rs.100000.

5. Do you prefer only branded builders?

33 | P a g e
 PREFERENCE OF ONLY BRANDED BUILDERS

80
70
60
50
40
30
20
10
0
Yes No

PREFERENCE OF ONLY BRANDED BUILDERS (%)

No
20%

Yes
80%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed 80% of the
people prefer only branded builders while the rest 20% of the people prefers both branded
and unbranded builders.

6. From the below listed real estate companies which company do you prefer the most?

34 | P a g e
 PREFERABLE REAL ESTATE COMPANIES

45
40
35
30
25
20
15
10
5
0
Ambuja Neotia PS Group Mani Group Bengal Peerless Merlin Group Siddha Group

PREFERABLE REAL ESTATE COMPANIES (%)

Merlin Group Siddha Group

15% 6%
Ambuja
Neotia
45%

Bengal Peer-
less
20%
Mani Group PS Group
4% 10%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed 45% of the
people prefer Ambuja Neotia, 20% prefers Bengal Peerless, 15% prefers Merlin group, 10%
prefers PS group, 6% prefers Siddha group and 4% prefers Mani group.

7. What source do you prefer for getting information while buying /searching for a property?

35 | P a g e
 PREFERABLE SOURCE FOR GETTING INFORMATION

35
30
25
20
15
10
5
0

ce
r
ia

er

en

ne
ed

en
ap

rt
lm

er
e
sp

pa
tis

ef
w
cia

el
er

lR
Ne

nn
so

na
Ad

so
Ch
or

r
Pe
do
t
Ou

PREFERABLE SOURCE FOR GETTING INFORMATION

(%)
Personal
Reference social media
Channel partner 5% 35%
25%

Newspaper
20%

Outdoor
Advertise-
ment
15%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed 35%
prefers social media, 20% prefers newspaper, 15% prefers outdoor advertisement, 25%
prefers channel partner and 5% prefers personal reference.

8. Source of fund:

36 | P a g e
 SOURCE OF FUND

60

50

40

30

20

10

0
Bank Loan Own Fund Fund from any other
source

SOURCE OF FUND (%)

Fund from
any
other source
Own Fund 5%
35%

Bank Loan
60%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed 60% of the
people have opted bank loan, 35% have opted own fund and 5% have opted for fund from
any other source.

9. Your preferred budget range?

37 | P a g e
 PREFERRED BUDGET RANGE

60

50

40

30

20

10

0
10Lacs-50Lacs 51Lacs-1Cr 1Cr-3Cr 3Cr and above

PREFERRED BUDGET RANGE (%)

1Cr-3Cr
3Cr &
9% above
6%

51Lacs-1Cr 10Lacs-50Lacs

30% 55%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed 55% of the
people are having budget range between Rs.10lacs -50 lacs, 30% are having budget range
between Rs.51 lacs-1 cr, 9% are having budget range between Rs.1cr-3 cr and % are having
budget range of Rs.3 cr & above.

10. Your preferred location?

38 | P a g e
 PREFERRED LOCATION

60

50

40

30

20

10

0
City Close to city Outside of city

PREFERRED LOCATION (%)

Outside of
city
15%

Close to city
25% City
60%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed the
preferred location of 60% of the people is within the city, 25% prefers close to city and 15
prefers outside of city.

11. Your preferred property type?

39 | P a g e
 PREFERRED PROPERTY TYPE

45
40
35
30
25
20
15
10
5
0
1 BHK 2 BHK 3 BHK 4 BHK Duplex Penthouse

PREFERRED PROPERTY TYPE (%)

1 BHK
7%
Penthouse
4 BHK Duplex 5%
13% 7%

2 BHK
43%

3 BHK
25%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed the
preferred property type of 7% of people is 1 BHK, 43% prefers 2 BHK, 25% prefers 3 BHK, 13
prefers 4 BHK, 7% prefers duplex and 5% prefers penthouse.

12. Your preferred size range?

40 | P a g e
 PREFERRED SIZE RANGE

35

30

25

20

15

10

0
600-1000 sq.ft 1000-2000sq.ft 2000-3000sq.ft 3000-4000sq.ft 4000sq.ft and
above

PREFERRED SIZE RANGE (%)

4000sq.ft
3000-4000sq.ft & above 600-1000 sq.ft
18% 7% 25%

1000-2000sq.ft
2000-3000sq.ft
15% 35%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed the
preferred size range of 25% of the people is 600-1000sq.ft, 35% prefers 1000 -2000sq.ft, 15%
prefers 2000 - 3000sq.ft , 18% prefers 3000-4000sq.ft, 7% prefers 4000sq.ft & above.

13. What is the purpose of buying the property?

41 | P a g e
 PURPOSE OF BUYING THE PROPERTY

70

60

50

40

30

20

10

0
Residential Commercial

PURPOSE OF BUYING THE PROPERTY (%)

Commercial
30%

Residential
70%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed the
purpose of buying the property of 70 % of the people is residential and the purpose of buying
the property of 30% of the people is commercial.

14. When are you going to purchase the property?

42 | P a g e
 PROPERTY PURCHASING TIME

40
35
30
25
20
15
10
5

0
Within 3 months Within 6 months Within 1 Year Not yet decided

PROPERTY PURCHASING TIME

Within 3
Not yet decided months
36% 15%

Within 6 months
27%
Within 1 Year
22%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed 15% of the
people want to buy the property within 3 months, 27% wants to buy the property within 6
months, 22% wants to buy the property within 1 year and 36 % have not yet decided.

15. Among the below listed factors which factor influence you the most while choosing your
dream house?
43 | P a g e
 MOST INFLUENCING FACTOR

30

n
20

o
ti
es
10

y
pl

ng
ill

p
e

ty
0 w

co
ly
su
bl

ri
od

pp
la

cu

e/
er
ai
go

u
Se

is
ow
av

affi r S

no
s

&
r'

es

e
p

at
pe

c/
ty
d
liti

W
te

fe
o

ci
el

up

Sa
Fa

tr
ev

rr

y
D

te

b
d
in

e
n-

us
U

ca
ce
an
rb
tu
is
D

MOST INFLUENCING FACTOR

Disturbance
caused by
traffic/
Water noise/ con-
Supply Developer's
gestion goodwill
4% 23% 33%

Safety &
Security Facilities
7% available
16%

Un-inter-
rupted
power
supply
17%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed 33%
prefers developer’s goodwill, 16% prefers facilities available, 17% prefers un-interrupted
power supply, 7% prefers safety & security, 4% prefers water supply and 23% prefers
disturbance caused by traffic/noise/congestion.

16. Among the below listed amenities which amenity do you prefer the most while choosing
your dream house?
44 | P a g e
 MOST PREFERABLE AMENITIES

30

25

20

15

10

0
Swimming pool Multipurpose Gymnasium Private theatre Games room Children's play
hall area

MOST PREFERABLE AMENITIES (%)

Games room
4% Children's Swimming pool
play area 30%
Private theatre 15%
6%

Multipurpose
hall
Gymnasium 25%
20%

INTERPRETATION: The above survey clearly shows that out of 100 people surveyed 30%
prefers swimming pool, 25% prefers multipurpose hall, 20% prefers gymnasium, 6% prefers
private theatre, 4% prefers games room and 15% prefers children’s play area.

17. Do you consider “VASTU” while purchasing your dream house?

45 | P a g e
 CONSIDERATION OF VASTU

80
70
60
50
40
30
20
10
0
Yes No

CONSIDERATION OF VASTU (%)

No
20%

Yes
80%

INTERPRETATION: The basic ideology behind the use of Vastu Shastra is to have a better
life. In layman’s terms, to boost your luck. The whole purpose of Vastu Shastra is to create and
attract the positive cosmic energy. People, who are living or working at a Vastu compliant
place, are said to lead a healthier and happier lifestyle. Vastu compliant home provides health
benefits both mental and physical, creates better relationships and provides financial success.
The above survey clearly shows that out of 100 people surveyed it is clear that 80% of the
people consider ‘VASTU’ while purchasing the dream house and 20% of the doesn’t consider
‘VASTU’ while purchasing the dream house.

18. Are you very much particular about the cost of maintenance?

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 PARTICULARITY ABOUT COST OF MAINTAINANCE

70
60
50
40
30
20
10
0
Yes No

PARTICULARITY ABOUT COST OF MAINTAINANCE (%)

No
30%

Yes
70%

INTERPRETATION: The cost of maintenance comprises common area power costs, diesel
generator cost, landscape maintenance cost, cost for maintenance of amenities (club house,
swimming pool, gymnasium, common library, crèche, etc.), annual maintenance cost (AMC)
for all capital equipment and lift, sewage treatment plant (STP) operating cost, staff cost,
security, etc. The total cost for the month is divided by the overall area of the property which
gives the per sq ft rate for maintenance for the month. The above survey clearly shows that
out of 100 people surveyed 70% of the people are very much particular about the cost of
maintenance and 30% are not very much particular about the cost of maintenance.

19. Are you very particular about the possession time?

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 PARTICULARITY ABOUT POSSESSION TIME

80
70
60
50
40
30
20
10
0
Yes No

PARTICULARITY ABOUT POSSESSION TIME (%)

No
20%

Yes
80%

INTERPRETATION: In real estate, when you sell a property you will sell it with the
understanding that a buyer will take the property at a certain possession date. Possession
dates are usually a few weeks or a few months after the property is ‘sold’. This is also known
as completion date or closing date. Possession dates are a negotiating term for buyers and
sellers. Some sellers need a few months to find a new place to live so they may ask for
something like ’60 days possession’. The above survey clearly shows that out of 100 people
surveyed 80% of the people are very particular about possession time while 20% are not very
particular about possession time.

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 RECOMMENDATION
As Ambuja Neotia enjoys a good brand name & have a battalion of brand loyal customers it
shall make sure that the maintenance of its occupied housing complexes is taking place in the
best possible manner.

 Due to stiff competition in the market Ambuja Neotia shall focus on the quality of
homes provided and shall also try its best to meet different kind of requirement of
different buyers. Due to current oversupply situation in the market Ambuja Neotia shall
resist from increasing price of its property.

 Ambuja Neotia shall help and lure the prospective buyers by helping them in getting
housing loans. It shall collaborate with some popular banks for this purpose. These days
even banks are more than willing to provide home loans.

 Ambuja Neotia shall provide the right amount of greenery in its housing complexes, as
pollution free environment is a very important factor that people consider while
purchasing the property.

 By giving some gifts and best wishes cards to the customer that your buying decision is
very good, company can improve sales and brand loyalty.

 For customer care Services, Company should start its concrete mobile van facilities.

 Company should start its internal call centre for its valuable customers by which they
can directly interact with company experts.

 Company should conduct society welfare programs in rural area. So that company
creates good brand image among people.

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 CONCLUSION
It can be concluded from the study that Ambuja Neotia has a good brand image in the dealers
mind.

 Respondents are of the opinion that among all the media social media is the most
powerful media followed by the Newspaper and hoarding which every common man
can see. So company should have to utilize them as much as possible.

 Majority of the respondents have considered “VASTU” as a most important factor

while purchasing their dream house.

 The company should focus more on sales promotion, advertisement and public
relation.

 Developer’s goodwill is also considered as the most important factor followed by

disturbance caused by traffic/noise/congestion, facilities available, uninterrupted
power supply, safety and security while purchasing the dream house.

 Network spread of Ambuja Neotia is very high which can act as its strength.

 Majority of the respondents are buying the property for residential purpose.

 The preferred location of majority of the respondents is within the city.

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 BIBLIOGRAPHY

REFERENCES

1. Real estate marketing by M.Sirgy.

2. Facebook marketing for realtors: Real estate marketing in the 21 st century by Michael
Smythe.

3. Real Estate Market Analysis: Methods and Case Studies by Deborah L. Brett, Adrienne
Schmitz.

4. Making It in Real Estate: Starting Out As a Developer by John McNellis.

WEB BASED REFERENCES

1. www.ambujaneotia.com

2. http://www.wikipedia.com

3. www.answers.com

4. www.realestateindia.com

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 QUESTIONNAIRE

1. Name: ___________________________________

2. Age:

(A) 21-30 Years ( ) (B) 31-40 Years ( ) (C) 41-50 Years ( )

(D) 51-60 Years ( ) (E) Above 60 Years ( )

3. Gender:

(A) Male ( ) (B) Female ( )

4. Occupation:

(A) Business ( ) (B) Service ( ) (C) Others ( )

5. Income per Month:

(A) 10000-40000 ( ) (B) 40001-70000 ( )

(C) 70001-100000 ( ) (D) More than 100000 ( )

6. Do you prefer only branded builders?

(A) Yes ( ) (B) No ( )

7. From the below listed real estate companies which company do you prefer the most?

(A) Ambuja Neotia ( ) (B) PS Group ( ) (C) Mani Group ( )

(D) Bengal Peerless ( ) (E) Merlin Group ( ) (F) Siddha Group ( )

8. What source do you prefer for getting information while buying /searching for a property?

(A) Social Media ( ) (B) Newspaper ( ) (C) Outdoor advertisement ( )

(D) Channel partner ( ) (E) personal reference ( )

9. Source of fund:

(A) Bank Loan ( ) (B) Own fund ( ) (C) Fund from any other source ( )

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10. Your preferred Budget range?

(A) 10Lacs-50Lacs ( ) (B) 51Lacs-1Cr ( )

(C) 1Cr-3Cr ( ) (D) 3Cr and above ( )

11. Your preferred location?

(A) City ( ) (B) Close to city ( ) (C) Outside of city ( )

12. Your preferred property type?

(A) 1BHK ( ) (B) 2 BHK ( ) (C) 3 BHK ( )

(D) 4 BHK ( ) (E) Duplex ( ) (F) Penthouse ( )

13. Your preferred size range?

(A) 600-1000sq.ft ( ) (B) 1000-2000sq.ft ( ) (C) 2000-3000sq.ft ( )

(D) 3000-4000sq.ft ( ) (E) 4000sq.ft and above ( )

14. What is the purpose of buying the property?

(A) Residential ( ) (B) Commercial ( )

15. When are you going to purchase the property?

(A) Within 3 months ( ) (B) Within 6 months ( )

(C) Within 1 Year ( ) (D) Not yet decided ( )

16. Among the below listed factors which factor influence you the most while choosing your
dream house?

(A) Developer’s goodwill ( ) (B) Facilities Available ( )

(C) Un-interrupted power supply ( ) (D) Safety and Security ( )

(E) Water supply ( ) (F) Disturbance caused by traffic/noise/congestion ( )

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17. Among the below listed amenities which amenity do you prefer the most while choosing
your dream house?

(A) Swimming Pool ( ) (B) Multipurpose hall ( ) (C) Gymnasium ( )

(D) Private Theatre ( ) (E) Games Room ( ) (F) Children’s Play area ( )

18. Do you consider “VASTU” while purchasing your dream house?

(A) Yes ( ) (B) No ( )

19. Are you very much particular about the cost of maintenance?

(A) Yes ( ) (B) No ( )

20. Are you very particular about the possession time?

(A) Yes ( ) (B) No ( )

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