Chetana's PGDM Project: Market Opportunity and Customer Perception

This project report, submitted by Arun Vishwakarma to Chetana's Institute of Management & Research (CIMR) for the Post Graduate Diploma in Management (PGDM) program, analyzes the market opportunity and customer perception towards Sunteck Realty LTD in Vasai. The report begins with an overview of the Indian real estate sector, including market size, investments, major players, and government initiatives. It delves into the functional perspective, defining the problem, objectives, and research methodology, including literature review and primary research. The study examines the real estate market's growth, investment trends, and key players like Godrej Properties and DLF Ltd. The report also covers government initiatives and provides a detailed analysis of Sunteck Realty, its brand portfolio, and work culture. The project includes a questionnaire, bibliography, and a Turnitin report to ensure originality. The analysis offers valuable insights into the real estate market and Sunteck Realty's position within it, focusing on customer perceptions and market opportunities in the Vasai region.

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Chetana’s Institute of Management & Research
Bandra (East), Mumbai 400 051
A study on market opportunity analysis and customer
perception towards Sunteck realty LTD in Vasai
Industry Oriented Project
Submitted in partial fulfilment of the requirements for
Post Graduate Diploma in Management
Academic Year: 2020-2021
Submitted By
Name: Arun Vishwakarma
Roll No.: 58
PGDM Batch: 2019-2021

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Declaration
I hereby declare that this project report titled ‘A study on market opportunity analysis and
customer perception towards Sunteck realty LTD in Vasai’ submitted in partial fulfilment of the
requirement of Post Graduate Diploma in Management to Chetana’s Institute of Management and
Research, is my original work and not submitted for award of any degree or diploma fellowship
or for similar title or prize. References of work and related sources of information have been duly
acknowledged in the report.
The project has been carried out under the guidance of Prof. Hufrish Majra
I further declare that I have no objection and grant the rights to Chetana’s Institute of Management
and Research to publish any chapter/project or use it for future reference if they deem fit.
Place : Mumbai
Date : 30th April, 2021
Name : ARUN VISHWAKARMA
Division : M1
Roll No. : 58
Digital Signature :

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Certificate
This is to certify that the project titled ‘A study on market opportunity analysis and customer
perception towards Sunteck realty LTD in Vasai’ submitted by Arun Vishwakarma to
Chetana’s Institute of Management & Research in partial fulfillment of the requirement of Post
Graduate Diploma in Management, has been done under the guidance of the undersigned during
the period December 2020 to April 2021.
Date: 30th April, 2021
Place: Mumbai
Dr. Madhumita Patil Faculty Guide

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ACKNOWLEDGEMENT
The final outcome of the Project required significant amount of guidance and knowledge, which I
acquired from regular interactions with the faculty and colleagues in Sunteck Realty Limited. I
would like to express my sincere gratitude to the employees of Sunteck Realty Limited, Ms Anisha
Munjal to give me an opportunity to work very closely with Sunteck Realty Limited as a Trainee.
My appreciation extends to my guide – Prof. Hufrish Majra for devoting her time in guiding me
through this project and providing me with valuable and timely feedback. I would like to express
my deep sense of gratitude to our CEO and I/C Director, Dr. Madhumita Patil for giving me this
opportunity.
Above ground, I am indebted to my Family and the People in my life, without whom I wouldn’t
be able to complete this project.
Lastly, I would like to thank my colleagues – Mr. Chandan Gupta, Mr. Ashish Yadav, and Mr.
Tejas Kolumbe; who guided me and provided valuable insights.
Signature of the Student

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Table of content
A. GENERAL MANAGEMENT .............................................................................6
a) Introduction to the industry.................................................................................6
b) Market size……………………………………………………………………….7
c) Investment and developments..............................................................................8
d) Major players…………………………………………………...........................10
e) Government Initiatives......................................................................................11
f) Road ahead………… ..........................................................................................12
g) Introduction to Sunteck realty, brand portfolio, work culture ……………..13
B. FUNCTIONAL PERSPECTIVE ......................................................................19
a) Problem Definition............................................................................................19
b) The objective of the Project ..............................................................................19
c) Research Methodology .....................................................................................19
d) Literature Review..............................................................................................21
e) Primary research ...............................................................................................23
f) Conclusion and recommendations. ...................................................................34
C. ANNEXURES .....................................................................................................35
a) Questionnaire.....................................................................................................35
b) Bibliography…....................................................................................................41
c) Turnitin Report..................................................................................................42

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INDUSTRY OVERVIEW
Real estate is one of the top sectors in Indian economy which consider is one of the
boosting sectors in India. This sector consist hospitality, housing, groceries, and industrial. The
growth of this sector is predicting as expand in business world, which ultimately increase the
demand of office space in both urban and semi urban lodging. Construction industry rank third
in all sector in terms of direct, indirect and mediated impact.
It is expected that this sector will attract non-residential Indian (NRI) in long term and
short term both. Ahmedabad, Pune, Mumbai, Bangalore, Goa, Delhi, and Dehradun are the
famous place for investment by NRIs.
It is anticipated that real estate sector estimated to be worth $1 trillion by 2030. It will
contribute up to 13 % of the country GDP of India. Urbanisation rapidly means it is giving
benefit to this sector. It also anticipated that the Indian will residing in cities is projected to
expand 520 million by 2025. Urban population in India calculated for 35 % of the country total
population and it is accounted for 70 to 75 percent of the country total GDP. Construction is the
third largest industry and most valuable industry throughout world in terms of FDI inflow. FDI
in the sector (which includes construction production and construction activities) valued US $
42.66 billion from 2000 to 2020.
By 2025, the Indian government “housing for all” plan projected to put in US $ 1.3
trillion in the housing investment. Property consultancy JLL consider that India global real estate
transparency index ranking become strong by a notch to 34 in 2019 as a outcome of regulatory
changes, efficient market data and green initiatives. Increased by 2.5 times to 33,404 unites in
homes sales volume in India’s eight major cities as compared to 9633 units in the previous
quarter, due to covid 19 across the country, it is expected healthy recovery following the
imposed of strict lockdown in the second quarter.

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Market Size:
Real estate sector rises to Rs 65250 crores (us$ 9.31 billion) by 2040 from Rs 12100 crores which
us$ 1.72 billion in 2019. It is projected to grow to US$ 1 trillion by 2030 in India real estate market up
from US$ 121 billion in 2017, and contribute up to 13.3 % of the country’s GDP by 2025. Hospitality,
commercial and retail estate are all in enormous growth, providing India with enough infrastructure.
Value of real estate in India increased at 20 percent by taking CAGR from 2017 to 2028.
Development in many sectors such BFSI, manufacturing, consulting and many more has
given demand for office area. It is totalled 60.7 million SQFT office leasing space in eight major
cities, up to 27.1 percent year by year. Increasing demand for office area with the commercial
lease operation has reached to 69.5 million SQFT in 2019. By the end 2019, it is estimated that
coworking area space in the top seven cities had raised to 12 SQFT.
In 2020, the warehousing room is projected to grow to 247 million square feet, with an
investment of Rs. 50,125 crores which is US$ 7.80 billion in the year 2018-20. By 2022, It is
projected that the absorption of Grade A office space is extent to 750 MSF with Delhi NCR by
the demand of majority as per accounting

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Investments/Developments:
In recent years there is rapid growth in Indian real estate sector with an increased demand for
both residential and office spaces. In 2019, about Rs 43801 crore which US$ 6.29 billion was
injected in real estate sector. In 2019, US$ 1 billion in PE funding received by retail sector. At
the time of march 2020 quarter, an institutional investment totalled US$713 million in the sector.
During the quarter ended March 2020, institutional investment in the sector totalled US$
712 million. Foreign private equity invested around US$ 13.9 billion in real estate between 2015
and Q3 2019.
Exports from SEZs totalled Rs. 7.97 lakh crore (US$ 113.1 billion) in FY-20, up 13.3% from Rs.
7.2 lakh crore (US$ 100.4 billion) the previous year.
According to data declare by the Department for Promotion of Industry and Internal Trade
Policy (DPIIT), construction is the third-largest FDI inflow segment (DPIIT). Between April
2000 and Sept 2020, FDI in the sector (construction activities and including construction
production) totalled US$ 42.98 billion.
Some of the major development and investment in this sector are:
• Taj Group will open three new hotels in November 2020, two in Kolkata and one in
Patna, in collaboration with real estate firm Ambuja Neotia Group.
• The Godrej Group has joined the financial services market with Godrej Housing Finance
(GHF), with the aim of building a long term and profitable retail financial services company in
India, with a balance sheet of Rs. 10,000 crore (US$ 1.35 billion) in the next three years.
• In October 2020, Brookfield Asset Management invested a lot of money in India with a
US$ 2 billion land deal. RMZ Corp. will offer 12.51 million square feet of commercial real
estate to Brookfield, a privately owned company. The purchase includes both rent-paying office
space and commercial co-working space.
• In October 2020, the Bhumika Group, a real estate company based in Rajasthan,
announced plans to invest Rs 451 crore (US$ 60.82 million) in two residential and one retail
projects in Alwar, Udaipur, and Jaipur.

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• In October 2020, Australia's REA Group Ltd. announced a deal to buy a majority stake in
Elara Technologies Pte Ltd, the company behind Housing.com, PropTiger.com, and
Makaan.com.
• Anarock, a property analyst, estimates that India will have 100 new malls by 2022. 69
malls will be constructed in the top seven cities, with the remaining 31 malls being built in Tier
2 and 3 cities.
• In March 2020, the government approved TCS and DLF's proposals to establish SEZs in
Haryana and Uttar Pradesh for the IT sector.
• In India, Blackstone has reached a US$ 12 billion investment milestone.
• Puravankara Ltd, a real estate company, plans to invest about Rs. 850 crore (US$ 121.6
million) in three ultra-luxury residential projects in Bengaluru, Chennai, and Mumbai over the
next four years.
• In early 2019, multinational investment company Blackstone and realty firm Embassy
group launched the First REIT, which raised Rs. 4,750 crore (US$ 679.64 million).
• To broaden its market footprints, RMZ Corp established a strategic and equitable
partnership with Mitsui Fudosan (Asia) Pte Ltd in January 2020.

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Major Players:
Godrej Properties was established in 1989 and is a subsidiary of the Godrej Group, one of India's largest
conglomerates. It is also one of the country's largest real estate developers, with operations in more than 12 cities. In
FY20, the company saw its highest-ever revenue and added ten new projects.
DLF Ltd is India's largest real estate developer, with over 73 years of experience in the industry. The firm is
involved in all stages of real estate development, including land discovery and acquisition, preparation and
execution, project design, and marketing. Sales and rentals are the two main sources of revenue for the business.
SOBHA is one of India's most well-known real estate brands and the country's only backward integrated
real estate company. It was established in 1995 with the aim of changing people's perceptions of quality.
It operates in 27 cities across India and 14 states, making it a truly pan-India player. Its overall value has
been consolidated in...

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Government Initiatives
• The government of India, in collaboration with the governments of the various states, has taken a
number of steps to promote growth in the field. Real estate companies should take advantage of the
Smart City Project, which aims to create 100 smart cities. Some of the other major government initiatives
are listed below:
• Income tax relief measures for real estate developers and homebuyers were included in the
Atmanirbhar Bharat 3.0 package announced by Finance Minister Mrs. Nirmala Sitharaman in November
2020 for primary purchase/sale of residential units of value (up to Rs. 2 crore (US$ 271,450.60) from
November 12, 2020 to June 30, 2021).
• The Ministry of Housing and Urban Affairs (MoHUA) will open an affordable rental housing
complex portal in October 2020.
• The government declared the implementation of the Real Estate (Regulation & Development)
Act, 2016 in the union territory of Jammu & Kashmir on October 27, 2020. This has made it possible for
any Indian citizen to purchase non-agricultural land and property, while previously only local residents
were eligible.
• The Union Cabinet has approved the establishment of a Rs. 25,000 crore (US$ 3.58 billion)
alternative investment fund to revive about 1,600 stalled housing projects across the country (AIF).
• The Pradhan Mantri Awas Yojana (Urban) (PMAY (U) has approved 1.12 crore houses in urban
areas, resulting in the creation of 1.20 crore jobs.
• • The government has established an Affordable Housing Fund (AHF) at the National Housing
Bank (NHB) with an initial corpus of Rs 10,000 crore (US$ 1.43 billion) to finance HFCs using priority
sector lending shortfalls from banks and financial institutions.
• India formally authorised 423 special economic zones (SEZs) on July 31, 2020, with 248 of them
already operational. The IT/BPM field is home to the majority of special economic zones (SEZs).

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Road Ahead
The Real Estate Investment Trust (REIT) platform has been authorised by the Securities and Exchange
Board of India (SEBI), enabling all forms of investors to participate in the Indian real estate market. It
would create a market opportunity worth Rs. 1.25 trillion (US$ 19.65 billion) in India in the coming years.
In response to an increasingly well-informed customer base and the globalisation aspect, Indian real
estate developers have shifted gears and embraced new challenges. The most notable change has been
the move from family-owned to professionally operated businesses. Real estate developers are investing
in centralised processes for sourcing materials and organising manpower, as well as hiring qualified
professionals in project management, architecture, and engineering, to meet the growing demand for
managing multiple projects across cities.
The growing flow of FDI into Indian real estate encourages greater transparency. To obtain funding,
developers have revised their accounting and management processes to satisfy due diligence criteria.
Indian real estate is expected to attract substantial FDI in the next two years, with an infusion of US$ 8
billion by FY22.