Summer Traning Program Mohit Singh
Summer Traning Program Mohit Singh
Summer Traning Program Mohit Singh
ON
“ANALYSIS OF RETAIL ESTATE
DEVELOPMENT IN CONTEXT TO BIG
APPLE REAL ESTATE PVT LTD”
SUBMIT REQUIREMENTS FOR THE MASTER’S DEGREE
IN INTERNATIONAL BUSINESS
OF
H.N.B. GARHWAL UNIVERSITY, SRINAGAR
SUBMITTED TO:
INTERNAL GUIDE EXTERNAL GUIDE
MS PARVI BHARTI MR ABHISHEK
LECTURER MANAGEMENT TRAINEE
IMS BIG APPLE REALESTATE
DEHRADUN LUCKNOW
SUBMITTED BY:
MOHIT SINGH
( MIB 0914)
1
2
ACKNOWLEDGMENT
Before I go into the details of my study, it will not be fair on my part if I fail to
acknowledge the helping hand considerably supported me for summer project.
A special mention of Mr. Abhishek (Finance Manager) and Mr. Sumit Jalota
(Marketing Manager), Big Apple, for their valuable guidance throughout the
training. It would be my privilege to thank the whole team of Big Apple,
Luknow, for being cooperative and extremely helpful through out the tenure of
the internship.
At last but not the least, I express my indebtness to my parents, friends and other
trainees who provided me support throughout this project. They have been a
perennial source of inspiration for me.
MOHIT SINGH
IMS Dehradun
3
CERTIFICATE
I have the pleasure in certifying that Mr./Ms. ...…………..……........………..……...
…………………
……………………………………………………………………………………………
……….……..
under my guidance.
I certify that this is his/her original effort & has not been copied from any other source.
This project has also not been submitted in any other Institute / University for the
purpose of award of any Degree.
This project fulfils the requirement of the curriculum prescribed by this Institute for the
said course. I recommend this project work for evaluation & consideration for the award
of Degree to the student.
Signature : ……………………………………
Designation :…………………………………….
Date : ……………………………………
4
EXECUTIVE SUMMARY
The project undertaken by me at Big Apple Real Estate Co., Lucknow as part of
real estate construction industry and to gain an insight into the various strategies
employed to cater this segment of the industry. The project deals with the
the world that are involved in the construction of these things but still Big Apple
In today’s competitive world the topper is always doing something different from
others or may be the same thing in a much more different way. The same logic
goes for the business world too. With new competitors coming every now and
then the field of business, the company positioning should be strong enough to
retain its position in business.
The main aim was to study the Indian market in context to future prospects and
comparative analysis of the companies with Big Apple involved in construction
industry. It also comprises of the study about the customer satisfaction,
government policies and market opportunities in the real estate sector. The
analysis of Indian market reveals the useful data to evaluate the Indian Market for
entry and investment by foreign companies.
5
The conclusions drawn from the study clearly indicate that in today’s scenario
somewhere or the other Big Apple is playing a very important role in the
development of the infrastructure in India but still needs a proper planning and
better strategies to reach the top. Indian industry has a potential for international
markets like USA, U.K, Germany etc. so it should adopt more reliable strategies
and sophisticated technologies.
6
INDEX
TITLE PAGE. 1
ACKNOWLEDGEMENT. 3
INTERNAL GUIDE CERTIFICATE. 4
COMPANY TRAINING CERTIFICATE. 5
EXECUTIVE SUMMARY. 6
LIST OF CONTENTS. 7
LIST OF TABLES AND FIGURES. 8
OBJECTIVE OF THE STUDY. 10
INTRODUCTION. 12
COMPANY PROFILE. 36
RESEARCH METHODOLOGY. 50
FINDINGS. 58
DATA ANALYSIS. 72
CONCLUSION. 87
SUGGESTIONS. 88
BIBLIOGRAPHY OR REFERENCES. 89
ANNEXURES. 91
7
LIST OF TABLES & FIGURES
page no
1) Graph representing visit to Malls 78
81 purchasing in malls
8
OBJECTIVES
9
OBJECTIVES
LTD. LUCKNOW”
10
INTRODUCTION
11
INTRODUCTION
The Indian economy has transformed substantively over the last two decades,
growing consistently at an average of 8 per cent and is poised to take its place
among the leading economies in the years to come. Strong performance of the
economy can be particularly attributed to healthy growth in manufacturing and
services sectors. The economic performance of India has provided strong impetus
to the real estate sector, which has been witnessing heightened activity in the
recent years. Substantial end-user and investor interest, large scale investment in
infrastructure and rapid urbanization have contributed to the growth trajectory of
Indian real estate. The real estate growth story is clearly visible in urban centres
such as Delhi, Mumbai and Bengaluru which have acquired global character and
recognition.
12
Investment (FDI) guidelines and significant increase in investment on physical
infrastructure.
Demand Pull Factors Resultant Impact Supply push Factors Resultant Impact
Robust and Increasing Policy & Entry of
sustained occupier base Regulatory number of
macro Significant reforms (100 domestic &
economic rise in demand per cent FDI foreign
growth for Relaxation) players
Upsurge in office/industri Positive increasing
Industrial al space outlook of competition
business Demand for global & consumer
activities, esp. newer Investors affordability
new economic avenues for Fiscal Easy access
sectors entertainment, incentives to to mean of
Favourable leisure & developers project
demographic Shopping Simplification financing
Parameters of urban Increases
Significant Creation of development developers
rise in demand for guidelines risk appetite
consumerism new housing Infrastructure & allows
Rapid support & large scale
urbanisation development development
Gamut of by Improved
financing government quality of
options at real estate
affordable assets
interest rates
13
Booming Indian Real Estate
REAL ESTATE
The recent times have also witnessed an evolution of the sector - towards greater
institutionalization and corporatisation. With the entry of global players, inflow
of foreign capital, evolution of capital markets, geographical diversification and
introduction of reforms, the sector has undergone some significant structural
changes. Even critical concern areas like transparency in the sector is also
improving significantly. The trend is expected to continue in the coming years.
Key Trends
This section discusses some of the notable trends observed in Indian real estate in
the year 2006-07.
Rush to raise capital
Last two years have been eventful years for the Indian real estate sector on the
capital markets, with the IPO Market witnessing the shifting focus towards the
realty sector .In a bid to raise their capital base and fund ambitious project
pipeline, real estate companies approached both the domestic and international
stock markets. Close to20 real estate and construction companies opted for stock
exchange listing since August 2006 to August 2007. Cumulatively, these
companies were able to raise around US$ 4356.3 million from the public for
various projects .Several prominent real estate players such as DLF, Parsavnath ,
14
Purvankara, Sobha, Kolte Patil and Omaxe came up with their public issues
during the last 18 months .Another trend that seems to find favour with Indian
realty developers is listing on the offshore exchanges like AIM, Singapore listed
REIT, Singapore Stock Exchange and Dubai International Financial Exchange.
India’s largest real estate developer DLF’s group company DLF Assets has filed
for REIT IPO in Singapore stock exchange.
Strategic alliances
Strategic alliance for synergetic benefits and capacity augmentation, a trend that
started in the year 2005-06 continued throughout the year 2006-07. The year saw
several regional, national and international players partnering for the objective of
fulfilling the funding requirement, mitigating risk in projects with high gestation
periods, obtaining technical expertise, brand equity etc. Several tie-ups to
enhance execution capability were also forged in the form of Joint Ventures with
the large national and international contracting Companies. Some prominent such
tie-ups included Emmar-MGF 50:50 joint venture with a leading Australian
contractor Leighton Holdings Ltd. and DLF’s joint venture with Laing 0’ Rourke
of UK.
15
Emaar Group Dubai
Hyderabad
Indian real estate sector continued to remain on the radar of several global
realtors. International developers originating primarily from Middle East, South
East Asia, and Europe have been hunting for business opportunities in India and
several strategic tie-ups were announced in the year2006-07. Prominent Middle
East based developers such as Nakeel Group (Dubai); Signature Group (Dubai)
announced their plans or projects in India. Technology and Media Free Zone
Authority (TECOM) of Dubai has also entered into a
MoU with the State Government of Kerala to develop the “Smart City” project
near Kochi city in Southern India.
Several Indian corporate have evinced interest to garnera share of Indian real
estate pie in the recent past. Like in the year 2005-06, last year also witnessed
diversification of Indian conglomerates to include real estate sector into their
respective portfolios. The table below captures the foray of some leading Indian
conglomerates into Indian real estate.
16
Indian Corporates Forway into real Estate
Firm Current Acctivity
THDC Ltd.(Tata Group The Company has entered retail and commercial real estate
Company) development with projects such as the Imperial mall (Bengaluru)
and Eruchshaw Building and the Technopolis Knowledge park in
Mumbai.
Further the THDC is now involved in the development of residential
townships largely in the Tier II and III cities including Pune, Cochin
and Goa.
Big apple Big apple has emerged as one of the leading commercial developers
in Pune, Mumbai and Kolkata. The group also undertakes residential
construction and has developed over 5 large residential complexes
and Malls in Uttar Pradesh. The company has also entered the retail
space with its flagship Kolkata Mall in association with Uppal
group. The company has proposed two IT parks in Kolkata.
TCG Urban The Group has thus far developed more than a million square feet,
Infrastructure Holdings largely comprising commercial property, across five cities,
Limited Bengaluru, Delhi, Calcutta, Chennai, Pune. The Company reportedly
(The Chatterjee Group has plans to develop 4-5 million square feet across asset classes over
Company) the next 2-3 years. The group proposes to invest in a proposed 330-
acre IT hub at Jagdishpur near Kolkata.
Andani Group The group has recently closed US$ 365.9 million deal in Mumbai’s
Bandra-Kurla Complex, where it plans to build a hotel, service
apartments, a shopping complex and residential complexes. The
company has also acquired 2.5 million square yards of land at
Dantali (Gujarat) for setting up an integrated township. The
company also plans to set up several townships in Gujarat.
Sahara India Group Sahara City Homes, one of the group companies of Sahara Group is
developing a chain of well-planned self-sufficient high quality
townships across 217 cities across India. Each township has been
planned on 100 to 300 acres of land parcels. Further, the group has
also entered into retail segment with large retail malls in cities such
as Gurgaon , Lucknow etc. The Group has alsodeveloped one of
India’s finest townships called “Aamby Valley” spread over
sprawling 10,000 acres near Mumbai.
Reliance Industries Reliance Industries has recently inked a Memorandum of
Limited Understanding with Government of Haryana to develop a US$ 24.4
billion SEZ between Gurgaon and Jhajjar. The proposed SEZ is
proposed to have its own airport, rail line, power plants and a metro
line to Manesar.
17
Moving up the value chain
As the Indian real estate continues to chart its high growth trajectory and
continues to grow and evolve the trend Of increasing backward and forward
integration by real estate developers continues to remain an
important trend in the sector. Several domestic players initiated action to increase
their presence across the
real estate value chain. Several leading construction and infrastructure giants are
emerging as integrated
real estate developers. Infrastructure and construction giants such as L&T,
IVRCL, IDEB Inc, Lanco, Maytas,
Madhucon, GMR, Nagarjuna Constructions amongst others gearing up to play a
definitive role in the Indian
realty space
Opportunity Spectrum
The phenomenal growth witnessed in Indian real estate has widened the
opportunity spectrum of the sector even beyond the established asset classes viz.
commercial, retail ,residential, industrial and hospitality. This section maps the
opportunity in both the asset classes and the emerging asset classes
The boom in the Commercial Real Estate (CRE) segment is being fuelled by a
robust demand from MNCs and corporate India alike, particularly from IT/ ITeS,
BFSI, Telecom and Pharma companies. In the year 2006 supply of commercial
grade A office space, remained concentrated in the top seven cities. According to
18
E&Y Estimates total supply of commercial office space (grade A, non captive) in
Mumbai, Hyderabad, Bengaluru, Pune and Chennai together was recorded in the
range of 40-45 million sq. ft. The absorption was primarily driven by the IT/ITES
industry accounting for almost 70-75 per cent of total\absorption. The supply
format was primarily in the form of IT Parks, integrated campuses and a few SEZ
development.
Bangolre 26%
NCR 23%
Mumbai 14%
Chennai 11%
Estate
Pune 10%
Kolkata 8% Key Growth
Drivers
Hyderabad 8%
The primary growth driver of commercial real estate is the IT/ITES sector,
which, is growing at 25-30 per cent annually. Further according to NASSCOM
estimates, India’s IT/ITES industry is expected to grow to US$ 148 billion
by2012. As per E&Y estimates this translates into in excess of250 million sq. ft
of commercial office space requirement by 2012-13
19
20
Growth in knowledge and technology intensive Sectors
Out look
Over next five years, the commercial real estate market is expected to grow at a
CAGR of 20-22 per cent and would continue to derive its growth from the
thriving off shoring industry. Over the medium term, the further opening up of
the economy is expected to lead to a broader occupier base. The supply of
commercial office space will remain concentrated in the suburban areas and in
the form of IT Parks and integrated campuses. Large supply of commercials pace
is also expected from SEZs over the next few years.
21
Key Growth Drivers
Rising urbanisation
22
According to the United Nations Population Fund (UNFPA), India is getting
urbanised at a faster rate than the rest of the world and by 2030 more than 40.7
per cent of the country’s population would be living in urban areas. Presently,
more than 28.7 per cent of India’s area is urban as against the global average of
48.7 percent. However the growth rate of urban areas was 2.3 per cent in 2005, as
against the world average of 2 per cent. The urban population of India was
the world after China. It is estimated to reach 590 million by the year 2030
retaining its second position. India’s cities have been the driving force in shaping
India’s socio-economic profile. Urban areas which constitute only 28.7 per cent
of the population, have been a major contributor to the GDP with a major share
of industry and almost the entire services sector concentrated in the urban
agglomerations. During the last sixty years, post independence the population of
India has grown two and a half times, whereas urban India has grown by nearly
five times.
According to Census of India 2001 estimates, 30 per cent of the total population
of India would be living in urban areas by 2011. The number of cities with one
2025.India’s ‘Mega-Cities’ of Mumbai and Delhi would be the world’s 2nd and
3rd largest cities by 2015. With a rapid influx of migrants in these cities there is a
23
Increasing number of households
The growing popularity of nuclear families in India has decreased the average
households in the country. The average HH size in India has declined from5.4
persons per HH in 1981 to 5.1 persons per HH in 2001.In 2001, there were
roughly 192 million HH in India, about 40 million more than those in 1991
Currently the population in the working age group (16-65 years) is about 700
million representing about 64 per cent of the total population of India is expected
to emerge as the highest contributor to the global work force by 2010. Given that
a majority of the population would still be young the per capita income
generation capability of India would continue to remain obust. With the average
age of home buyers declining fast the young working population would further
push demand for housing units higher. First-time home buyer numbers have
multiplied over the years and the median age of home buyers has reduced from
24
Increasing income levels
The per capita disposable income has grown manifold in the past one decade. The
current annual per capita disposable income stands at around US$ 693 and is
further expected to grow by 8-13 per cent in the next five years. Robust economic
growth, particularly in the services sector has led to an increase in income levels
in the country. Several studies have indicated that salaries in India have been
increasing by an average of 10-15 per cent on a year on-year basis. This has
increased the affordability of homes in spite of higher property prices and has
Over the past five years loan disbursals by housing finance companies have
grown by 30-40 per cent annually.However, despite such growth, mortgage loans
are presently only 4-5 per cent of GDP, primarily due to the low penetration of
25
Out look
Government of India habitat policy envisages that by the year 2012 the housing
shortage should be removed and everybody should have a house of his own.
Fructification of such a policy will translate into large scale development in this
on the lines of Navi Mumbai for Mumbai, NOIDA and Gurgaon for Delhi are
affordable housing.
The Indian retail industry is witnessing a structural change with individual small
format stores making way for large format shopping malls and hyper-markets. On
the policy front, the partial relaxation in FDI regulation (51 per cent FDI in single
brand retailing) has provided a boost to the retail segment. Presently the top
seven cities of India account for a dominant share in mall space. The total
organised retail space absorbed for the year 2006-07 in the top seven cities was
around 19 million sq. ft. The following chart depicts the absorption scenario of
organised retail space for the year 2006-07. National Capital Region (NCR), one
26
of India’s most affluent urban centres, dominates the absorption scenario
Rising Consumerism
With growth in India’s economy over the past two decades, the spending power
income has roughly doubled since 1985. The combination of rapidly rising
increase in overall consumer spending which in turn has been driving the
27
Growth in Organised Retailing
emerged one of the fastest growing industries in the Indian economy. The
industry is currently estimated to be about US$ 240 billion in size and is growing
at over 6-7 per cent annually. Organised retailing accounts for a small but fast-
growing share of the total industry; its share has more than doubled from 2 per
cent in FY2003 to 4.4 per cent (US$ 10.5 billion) in FY2006. Several factors
of credit cards and easy finance options and shopping convenience have further
India is attracting large international retailers to its doorstep. As per the latest AT
Kearney Global Retail Index 2007, India has been ranked the most attractive
attracted by the huge potential of the Indian retail industry and steady opening up
of the sector for FDI. Many international retailers are already present in the
country primarily through the franchisee route and are actively considering
expansion. Besides several other large retailers are planning to enter the country.
These include Woolworths and Wal-Mart, who have already tied-up with Indian
partners and Carrefour and Tesco, who are finalising their plans. In addition to
larger retailers entering the market and new retail formats being introduced,
28
Entry of Indian corporates into Retail industry
Several Indian corporates including Reliance, Bharti, Tata amongst others have
diversified into the retail segment. Prozone, a 100 per cent subsidiary of
Provogue (India) Limited a joint venture agreement with the Omaxe Group, plans
to develop India’s largest shopping malls across the country focused on tier two
corporate are looking to control the entire retail supply chain by forging tie-ups
and opening company owned outlets having footprints across the country.
The concept of specialised malls is gaining popularity with several auto malls,
jewellery malls, furniture malls and electronics malls coming up. Many
Out look
(51 per cent FDI in single brand retailing) and ongoing policy
debate to allow 100 per cent FDI in organised retailing (in both
single and multiple brands) holds out lot of promise of the Indian
29
made a foray into the retail segment or firmed up plans to enter
the retail segment. This will bring the much-needed corporatisation into
organised retail with enhanced operational efficiancy. This will also result in
greater geographical reach and diversification into tier-II and III cities.
With growth in inbound tourism and increase in business travel led by growth in
demand. As per FHRAI estimates in the year 2006 there were close to 100,000
hotel rooms in India in various categories with Five Star and Five Star Deluxe
contributing close to 30,000 rooms. Estimates indicate that India would need an
additional 50,000 rooms in the next 2 to 3 years to cater to the projected tourist
30
Occupancy rates are at an all-time high with luxury hotels in Mumbai, New Delhi
and Bengaluru quoting room rates higher than the Average Room Rate (ARR) in
the US. The chart below shows the Revenue per Available Room (Rev PAR)
31
Increase in International tourist arrivals
tourist arrivals in India increased by over 13 per cent in 2006 to reach 4.4 million
and foreign exchange earnings from tourism increased by over 17 percent to US$
7.22 billion. The Indian Government has realised that tourism is not only a
significant revenue earner but also a core employment generator. It has launched
various global campaigns such as Incredible India!, Colors of India, Atithi Devo
With India attracting increasing foreign interest in terms of trade and investment,
Domestic tourist visits in India were over 430 million in the year 2006. Increased
affordability and increasing trend of leisure travel are driving the domestic
tourism in the country. Moreover, India’s strong economic development and the
Domestic tourist visits in India were over 430 million in the year 2006. Increased
affordability and increasing trend of leisure travel are driving the domestic
tourism in the country. Moreover, India’s strong economic development and the
32
business travel. Domestic business travellers account for about 40 per cent of
Another catalyst for the hospitality industry’s growth in recent years is the entry
airport infrastructure has pushed demand for the hospitality real estate.
Medical tourism
has already gained momentum in India over the past few years. Wellness spas,
hospitals etc. are some of the emerging trends. In 2005, the medical tourism
market in India was US$ 33 million with 150,000 foreign patients visiting India
annually. The medical tourism market is expected to grow to over US$ 2000
International events
The hospitality sector is expected to gain further momentum with India hosting
33
developments are sustaining the growth of hospitality linked real estate in the
country.
with India ranking 27th in the Global Meetings market. Emergence of India as an
international air travel and many new world class convention centres, hotels and
meeting facilities.
Out look
forecasted that that there will be a total of 2.9 million and 6.6 million hotel rooms
in India by 2010 and 2020 respectively. As per CRIS-INFAC, demand for hotel
rooms in the country will continue to grow at a CAGR of 10 per cent over the
next 5 years. The rapid growth in number of visitors has most cities facing a
severe shortage of quality hotel rooms. Currently, the room shortage is estimated
at around 27,000 rooms. These include luxury hotels as well as mid-tier budget
34
Port land Bigapple Tie-up Development of 43
budjet hotels and
apartments at a cost
of US$ 140 million
As within other sectors in the Indian economy, one of the key drivers has been
the changes in policy of the Indian Government to a more liberal model. There
has been a drastic curtailment in restrictive policies such as the Urban Land
Township Policy. These changes have allowed the real estate development
brought both capital and expertise. With the liberalisation of FDI rules and the
emergence of real estate funds, the options available to both domestic and
international investors will continue to grow. Continuing the reforms agenda for
the sector, the Securities and Exchange Board of India (SEBI), vide its press
release dated June 26, 2006 has approved the guidelines for Real Estate Mutual
Funds (REMFs) wanting to set up shop in India and may possibly introduce Real
capital for the sector. The sector has further benefited by a range of Government
incentives including residential tax breaks and the Special Economic Zones.
35
COMPANY PROFILE
36
Big Apple Real Estate Private Limited is a holding company for
the country in their field i.e. The Phoenix Mills Ltd. Mumbai, the largest
mall developer of the country by the name of High Street Phoenix which is
United brand name across the country. The first phase of development is
taking place in the state of Uttar Pradesh with a vision to give the much
needed organized retail segment which the state of U.P lacks and going
37
The company is going on with a project of development of a Mall /
The mall shall have Retail outlets, Hyper marts, Anchors, Entertainment
center, large food court, fine dine specialty restaurants and a 6 screen
PVR multiplex. The mall development is about 4.92 lac sq.ft. which
continuously negotiating with some of the major and the top brands of
38
The PHOENIX
UPAL
39
“A mythical bird that never dies, the phoenix flies far away
events unfolding within it. The Phoenix , with its great beauty,
real estate sector. Led by a young Managing Director, Atul Ruia and a
units, the Group are determined to make its presence felt in India.
40
modern retail led, mixed use development. Group plans to
foray into developing real estate in India across cities including Mumbai,
UPAL
Nagpur & Dadri. The company is expanding aggressively across North India with
management. In a partnership with Phoenix & kshitij, UPAL will manage its
existing & forthcoming projects while the partners will play a more active role in
41
The company has made about 300000 Sq.m. of factory sheds
KSHITIJ
development of retail real estate in Tier I,II & III cities . The company has been
promoted by Future Capital Holdings Ltd. Kshitij is currently associated with the
development of 21 million square feet of malls & “Market Cities” across India
42
Big apple real estste, a joint venture between upal group &
company will evelop retail project in cities across up.Of the five
Project Brief
Thishopping Mall has over 5.5 lac sq feet of covered area plus 3 levels of car
parking. This Mall will have large anchors, vanilla shops, a hypermart, a family
The Mall is designed by M/s P.G Patki renowned Architect of Mumbai and
Mumbai.
43
Project Brief
The property shall have 700,000 sq feet covered area with over 1000 cars
parkings.Shall cater to a local population of over 1.5 million people plus 10,000
This Mall will have large anchors, vanilla shops, hyper marts, craft bazaar,
multiplex food court, speciality restaurants and a cultural centre will be part of
this development.
PVT. LTD.
Project Brief
One of the biggest Mall of Bareilly having approx. 5.5 lac sq feet covered
Located on the main Pilibhit Bypass and well connected with catchments
This mall will have a large anchor store, vanilla shops, multiplex, food
44
MARKET RESEARCH
45
DEFINITION
Marketing Research is the systematic gathering, recording, and
46
OBJECTIVES OF RESEARCH
The purpose of research is to discover answers to
questions through the application of scientific
procedures. The main aim of research is to find out
the truth which is hidden and which has not been
discovered as yet. Every research study has its own
specific purpose: Research methodology is wider
than that of research methods. Thus, when we talk
of research methodology we not only talk of the
research methods but also consider the logic behind
the methods. Following order concerning various
steps provides a useful procedural guideline
regarding the research process:-
47
Preparation of the report of presentation of the
results, i.e. formal write-up of conclusions
reached.
CLASSIFICATION OF MARKETING
RESEARCH
problems which are, perhaps, not apparent on the surface and yet
48
ROLE OF MARKETING RESEARCH
49
role of marketing research in managerial decision making is
50
RESEARCH
METHODOLOGY
51
TYPES OF RESEARCH DESIGN
three types-
• Case study
52
.It is structured, quantitative & formal. The
• Descriptive Research
• Experimental Research
• Case Study
• Statistical Techniques
53
Sample design census and sample survey: all items in
and not analyzed with inferential statistics. This differentiates it from quantitative
o Depth interviews
o Focus Groups
54
o Projective Techniques
with numbers and data easily quantified. The most popular quantitative technique
is the survey, often based on a large number of cases, where a broad overview of
They usually take less time to complete by the respondent and most often require
choosing between several responses rather than long verbal responses. In market
down the sample by demographics, lifestyle and usage behavior. The main types
SURVEYS
Surveys are the primary method of quantitative research – research with some
claim to statistical accuracy. There are several types of surveys and several key
55
considerations within each. This segment includes two important factors in
surveying – sampling and return rate with pros & cons and cautions.
TYPES OF SURVEYS
There are four basic types of surveys:
Survey by Mail
Survey by Telephone
Survey in person
Researchers often use more than one research design. They may start
client.
56
SAMPLING DECISION
The target respondents are the people of Lucknow City who are
real estate
57
Identificat Business House Stude Tota
ion man wife nt Salaried l
Pvt
Govt. .
No. of
People 24 28 22 12 14 100
14 100
% 24% 28% 22% 12% % %
FINDINGS
58
FINDINGS
Sahara
DLF
Parsvanath
Endelco
SAHARA
Sahara Infrastructure & Housing is India’s best & the largest realtor with
leadership in offering innovative products to our customers. They offer broad
range of houses, commercial & retail spaces, office spaces and luxurious
penthouses & villas.
The world's largest chain of townships in 217 cities all over India making more
than 7 lac (0.7 million) houses, best quality mega township on around 100 to 300
59
acres of land in each city, offering amenities superbly matched to international
standards that include :-
Major housing and commercial building projects in India including brand super
Sahara Grace township launched in April 2003, popularly known as the residing
place of the Modern Maharajas has shaped new parameters of excellence. The
who have excelled in life with a penchant for the best and an attitude of no
villas and exclusive pent houses, it is an address that matches their style. With
optimum quality and durability that exudes the majestic touch of value added
living, it is spread over an area of 10.98 acre and covers around 207 units. It is
60
besides the famous Sahara Mall. This is the most irresistible home ever offered in
India. Comprehensive security measures are an integral part of this township with
dome cameras, separate entry/exit for the residents, panic buttons in each
apartment etc.
Sahara Grace offers one of the biggest clubhouses. Be it the ayurvedic massage
parlour, Olympic size swimming pool, squash court, gymnasium or the restaurant
and the bar all symbolize a royal lifestyle at the disposal of the esteemed
ultra modern diverse components, large size carpet area for each unit are
SAHARA STATES
Sahara States are developed in a step with the avowed objective of the company
It is the commitment of Sahara India Pariwar to build a better India that reflects
affordable cost.
greenery, meticulously planned houses and buildings are the exclusive highlights
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of this township. The 1, 2 & 3 bedroom houses in three storied blocks and 3-4
meet the requirements of the people. The names of these residences based on the
This is India's first Brand Super Mall launched in March 2001 having built up
area of 394 Thousand sq. ft. on the main Mehrauli-Gurgaon road. It comprises
company owned brand outlets and flagship stores promising complete range of
products and latest offerings. A Shopping Mall that has set new standards in
contemporary design and latest facilities making it one of the most preferred
shopping zones for the consumers, with international class retailing environment.
From ground floor to the third floor there is an array of international brands
witnessing the paradigm shift in Indian habitats. The grand atrium welcomes the
customers & invites them to experience a world of class & lavishness. From
Raymonds, Lotus feet, Zaver, Tanishq, Big Bazaar etc. offer biggest scope to
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The most reputed food chains like Crave, Odyssey, Haldiram etc. find best
location in Sahara mall. Matching the occupants it has been built with full dignity
& grace. The façade has been expertly designed by W.S. Atkins, global leader in
renowned firm M/s Larsen & Toubro - E.C.C. Division. For managing the
overall mall, services of renowned firm Jones Lang LaSalle Meghraj have been
There is also a multiplex managed by PVR for recreational and leisure activities.
Therefore, it's a heaven for not only the cine-buffs but also for those who find
solace in entertainment of all sorts. The latest and the classics are what the
earthquake by following norms of BIS at one level higher seismic zone than in
Launched in April 1994 in Lucknow, this shopping centre was among the first
commercial location of Indira Nagar, Sahara Shopping Center has a mix of local
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Launched in April 1999 in Lucknow, this trade centre is another
SAHARA PLAZA
Sahara Plaza was launched in Oct. 2001 at Gomti Nagar area in Lucknow. Built
with the concept of serving daily needs of the near-by residents, it offers apparel
commercial, our projects are making a statement that is bound to turn eyes. In the
same lines the recent project Sahara Ganj, opened in November 2005 to provide
the city with the best entertainment arena. A brand Super Mall, it is self sufficient
in its offerings & specifications of the highest order. The built up area of
approx 525 Thousand sq. ft. Matching international standards & having the best
ground plus 4 floors all imbibed with the highest order of security provide the
customers a safe environment to shop, relax, enjoy & is a part of the modern
world. Big Bazaar & Pantaloons are the anchors along with the other occupants
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who are in the sections of garments, entertainment, furniture etc. Further, the
The attached 4 screen multiplex by PVR is a value added attraction of its own
kind.
world class mall, Sahara Ganj has been crafted by W.S. Atkins and construction
Ltd. It is poised to become a pioneer in its class which shall set the
ELDECO GROUP
The Eldeco group has been at the forefront of real estate development in North
India since 1975. The group has pioneered organized sector real estate
development in this region. The main companies in the group are
Management
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The group is professionally managed under the chairmanship of Mr. S K Garg,
who has over 30 years experience in real estate business. He has received several
awards acknowledging his and Eldeco's contribution in the field of construction
and housing. Mr. Pankaj Bajaj is the Managing Director of both EIPL and EHIL.
He is an MBA from Indian Institute of Management, Ahmedabad with over 10
years experience in construction and real estate development. Business heads and
other senior managers in the group are all well-qualified professionals with wide
experience in their respective fields.
ELDECO BRAND
• Lucknow
• Kanpur
• Agra
• Greater Noida
• Noida
Eldeco is arguably the biggest and strongest developer in these markets. Apart
from these markets where the brand is well-entrenched, the Group has entered a
number of new markets in North India and planning to expand its operations. We
have started showing our presence in Haryana at Gurgaon, Sonipat & Panipat.
Our next expansion will be in Punjab at Ludhiana & Jallandhar.
Eldeco projects have a highly evolved value – added positioning. Every project is
well conceived to give you the best in living
BUSINESS ACTIVITIES
The Eldeco Group has till date executed more than 150 real estate and
construction projects. Currently it is developing 35 projects in Noida, Greater
Noida, Faridabad , Gurgaon, Sonepat, Panipat, Ludhiana, Jalandhar,
Lucknow, Kanpur, Panchkula and Sitarganj.
The group has a presence in all the major real estate classes - multi storey group
housing, residential townships, shopping malls, industrial parks, SEZs, office
buildings and hotels.
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footprint of approx. 1196 acres, as a joint venture with SIDCUL, the
government of Uttarakhand undertaking entrusted with industrial
development of the state.
NCR DELHI
Charmwood Villa
Larchwood Villa
Olivewood Villa
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Pinewood Villa
Redwood Villa
Rosewood Villa
Features:
• With Gomti Nagar on one side, and the city's airport on the other.
The location for Sushant Golf City will set new standards for all
that is progressive and elegant.
• Well equipped offices and commercial spaces
• Strategically located on the Lucknow-Sultanpur National Highway
on Amar Shaheed Path, Ring Road.
• Township is divided into manageable and compact sectors with
regulated single entry/ exit points.
• Paved roads with high quality riding surfaces.
• Banks and insurance companies
• Underground optical fibre cables for telecommunication, electricity
distribution, storm water drains and sewer systems.
• Efficient power distribution network.
• Cyber cafes, BPOs etc.
• Solid waste management with participation of residents
• Commercial Zones
• Shopper's Delight
• Educational institutions for generations etc.
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Parsvnath
Parsvnath Developers Limited is the most diversified and widespread real estate
developer in India. It has 115 continuing projects with a developable area of over
191 msq .ft. Parsvnath Developers has been in the market for more than 20 yrs.
The amazing projects undertaken by Parsvnath Builders are not limited to any
particular state or region rather they are scattered all over India like Delhi,
Haryana, Punjab, Rajasthan, Gujarat, Maharashtra, Goa, Karnataka, Kerala,
Madhya Pradesh, Andhra Pradesh, Uttar Pradesh, Uttaranchal, Tamil Nadu,
Jharkhand, Jammu & Kashmir, & West Bengal. Very soon Parsvnath Developers
will be venturing into projects abroad due to international recognition for its
impressive infrastructures.
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i.e. shopping mall with metro station, was started in Delhi by Parsvnath
Developers Ltd.
New Ventures
Parsvnath Mall cum Hotel, Ahmedabad has been designed with rare distinction. It
Parsvnath Mall cum Hotel, Ahmadabad will have 150 super deluxe rooms and
suites. Tastefully furnished and draped in high tech sophistication, it will present
as the silicon valley of north India , wherein multinationals like ‘Dell & Quark’
have made their base. Mohali serves as the perfect host for Parsvnath ‘Mall
Matrix’ which is going to be the ultimate shopping, leisure & entertainment zone
for the huge population having high disposable income, high literacy rate & a
Strategically located at the base for the base for the headquarters of Punjab Urban
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stadium, ‘Mall Matrix’ promises to be the cynosure for commercial activity in
near future. Some of the corporate giants who have already arrived here include
Education and Research, Godrej & Boyce, ICICI India Ltd, Punjab Tractors and
PCA.
Just as Water & Earth create the base for life, just as Red, Blue & Green form the
base for a spectrum, Entertainment Hospitality & Retailing form the base for
‘Mall Matrix’ which is all set to convert Mohali into a new living Planet. This
West Delhi. It has a huge catchment area in the form of HIGH INCOME GROUP
of more than 10 lac people in Rohini, Pitampura, Shalimar Bagh, Punjabi Bagh,
Lawrence Road, Vikaspuri, etc., who are lifestyle savvy and have huge
disposable income. With its unique character, multiple pull factors and global
brand mix, it will ensure enormous attraction value and footfall consistency for
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• Maximum visibility to the traffic flow of Ring Road, resulting in
attraction value
Shopping is one of the most vivid form of community activity, which dates back
to the ages of caves and stones. By whatever name it has been known, shopping
has always played a pivotal role in changing the face of society, its choices and
habits. Shopping in Delhi dates back to the era of Mughals when the same took
place amidst the hustle and bustle of the narrow streets of Balli Maran and around
people from all sectors of India demanded that the Delhi market being
categorized into sectoral modes like Sarojini Nagar, Lajpat Nagar, and Gandhi
Nagar Markets etc. With the government opening up the economy in the early
90s, Indian market got fresh impetuous. Integration of shopping hubs led to shops
being converted into Plazas, and finally in the fast decade the new shopping
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COMPERATIVE ANALYSIS
The prices of the Housing and Apartments available for the customers are
4.5% lower than other companies like Sahara, Parsvnath, Eldeco and
Sushant. Real Estate Companies.
Big Apple provides 875 sq. ft. where as all the other companies provide
800 sq. ft. of the accommodation at the same price.
Big Apple provides its services at the place or in the area where the other
real estate companies don’t even provide nor think of construction and the
people of such areas are in need of such construction.
None of the projects of the Big Apple are not less than 200 acres where as
Sahara are constructing in 100 acres and Parsvnath are constructing in 90
acres.
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GOVERNMENT POLICY AND INITIATIVE
Rationalisation of processes
The Government has moved towards modernising and rationalising other areas of
regulation impacting real estate, which are perceived to being barriers to further
stamp duties across the states. Steps are being taken to address the record
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In India, residential housing is a state subject and federal government can only
provide policy guidelines on the. Some of the key legislations that have
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if they start • Levy of ‘Secondary and
functioning before March Higher Education Cess’
31,2010 at the rate of 1 per cent on
• Corporate tax increases from customs, excise and
33.66 per cent service tax
to 33.99 per cent due to
Secondary & Higher
Education Cess
• Fringe Benefit Tax (FBT)
imposed on ESOPs
• Tax holiday conditions made
stringent to
prevent existing business to
migrate to SEZ
FDI Regulation
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• Minimum 10 hectares to • Minimum capitalisation of US$ • Investor not permitted to
be developed for serviced 10 million for sell undeveloped
housing plots wholly owned subsidiaries & Plots
US$ 5 million
• For construction- for joint ventures with Indian • Project to conform to norms
development projects partners and standards laid down by
,minimum built-up area of respective State authorities
50,000 sqaure meters • Infusion of funds within 6
prescribed months of • Investor responsible for
commencement of business obtaining all necessary
• In case of a combination approvals as prescribed under
project, any one of the • Original investment cannot be applicable rules/by-
above two conditions repatriated laws/regulations of the State
should suffice before a period of 3 years from • Concerned Authority to
completion monitor compliance ofabove
• At least 50 per cent of of minimum capitalisation conditions by developer
project to be
developed within 5 years • Investor may be permitted to
from date of exit earlier with
statutory clearances prior Government approval
Government now allows 100 per cent FDI for townships ,housing, built-up
developers and to increase supply. The Act imposes a ceiling on ownership and
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property, and tenancy rights. These laws act as disincentives towards investment
investment has been the formation of Special Economic Zones (SEZs). The term
SEZ is widely used in international regional policy and many countries have
developed variations on the model The SEZ Act of Government of India, 2005
has presented a lucrative development alternative for all the realty players. SEZs
are specifically delineated, duty- free enclaves outside the customs territory of
India. SEZs are approved by the Ministry of Commerce and can be set up by
of these. Government now allows 100 per cent FDI for townships, housing, built-
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Multi Service 100 Hectares 25 Per cent
Sector Specific 100 Hectares 50 Per cent
IT, Gems and10 Hectares with 50 Per cent
Jewellery, Bio-minimum built up
tech and and non area of:
Convectional energy - IT : 100,000 sq mtrs
- Gems & Jewellery:
50,000 sq mtrs
- Bio-Tech & Non
conventional energy:
40,000 sq mtrs
Free Trade 40 Hectares 50 Per cent
warehousing Zone (minimum built up
area of 1 lakh sq
mtrs)
indirect tax exemptions and liberal exchange controls. Developers also receive
several fiscal benefits. The income-tax incentives for a SEZ developer include a
ANALYSIS OF FINDINGS
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Options Percentage
Weekly 50
Fortnight 20
Monthly 20
Rarely 10
Numberof Vists
Weekly
Fortnight
Monthly
Rarely
INTERPRETATION:-
As par the sample size, 50% respondent were weekly visit the mall, 20% of the
respondent were like to visit fortnightly, 20% like to visit monthly & remaining
Options Percentage
Sahara Ganj 60
80
Fun Mall 17
Wave 23
River Site 10
60
50
40
30
20
10
0
Sahara Ganj Fun mall Wave River Site
INTERPRETATION:-
60% of the respondent visit Sahara Gunj mall, 17% visit Fun mall,
23% visit wave & remaining respondent i.e. 10% visit River Site
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(3)Rank your preferences for shopping at the above mentioned malls on the
basis of different parameters i.e. Proximity, brand mix, Zoning :
INTERPRETATION:-
82
Option Percentage
Yes 62
No 38
Options Percentage
T.V. 28
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News Paper 48
Radio 24
INTERPRETATION:-
24% from T.V. and 48% from News paper and 28% of the people
give pre frences for this
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Option Very happy Happy Neutral Not Happy
80%
70%
60%
50%
40%
30%
20%
10%
0%
VeryHappy Happy Nuteral Not Happy
INTERPRETATION:-
85
Purpos Shopping Entertainm Fooding others
e ent
% of 34% 32% 28% 6%
Custm
er
35%
30%
25%
20%
Series 3
15%
Series 2
10% Series 1
5%
0%
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Time
Preference 5pm-7pm 7pm-9pm 9pm-11pm others
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
5pm-7pm 7pm-9pm 9pm-11pm others
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(b)Night Club
(c) Bar
INTERPRETATION:-
88
From the above data, we have known the satisfaction level of
100 respondents regarding the cleanliness and sanitation
facilities of the mall.
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From the above graphs, we have concluded that satisfaction
level of 100 respondents where 85% are satisfied and the
remaining are not.
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CONCLUSION
The prospect of Big Apple is very bright as according to the survey the customers
are very happy because Big Apple is providing its customers what they want at
very cheap prices.
Everything has a positive and a negative side, India to have it. Other than
negative aspect the, the positive aspects attracted many foreign investors and
companies who are ready to work with Big Apple and are still attracting many
other foreign companies and investors to enter and invest in India.
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SUGGESTIONS
The water coolers provided in the malls should not be placed near the
wash rooms.
The stair cases should be inside the malls and not outside the malls.
ATM Machines should not be inside the malls as due to this the place
becomes much crowded.
There should be proper security and the Security Guards should keep on
moving all over the mall.
Kitchens should be placed outside the malls as people face many types of
problems.
There should be a proper and large area with more number of seating
arrangement in the food court.
There should be proper instruction for entry, exit and way directions in
the mall.
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BIBLIOGRAPHY
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Companies literature and manual
www.google.com
www.wikipedia.com
Bussiness Magizines
www.Bigapple realty.com
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ANNEXURES
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