CHAPTER 1

INTRODUCTION

REAL ESTATE INDUSTRY

GLIMPSE
Real estate covers residential housing, commercial offices, trading spaces such as theatres, hotels
and restaurants, retail outlets, special economic zones (SEZs) and industrial parks such as
factories and government buildings. Real estate involves purchase, sale and development of land,
residential and non-residential buildings.Real estate is one of the fastest growing sectors in India.
The real estate industry is considered a growth engine of the economy. It is one of the fastest
growing sectors of the Indian eonomy and plays a vital role in overall growth and development.
This sector has considerable linkages with various other sectors and more than 250 associated
industries . A unit increase in expenditure in this sector has a multiplier effect and capacity to
generate income as high as five times.
Real estate can divided into three categories: These are
Commercial
Residential
Agricultural
We can invest into all the given areas and can make return by capital appreciation, rental
income, agricultural produce, lease and commercial use.
The following factors influence the price and cost of the real estate:
1. The physical characteristics of the property
2. The property rights
3. The time horizon of holding the property
4. Geographical area
2

5. The development rate

Features of Real Estate Markets: In particular, the unique features of the real estate market
must be accommodated. These include:
Durability
Heterogeneous
High transaction costs
Long time delays
Both an investment good and consumption good
Immobility

Real Estate Companies of India

Bengal Ambuja Housing Development is a joint venture between Ambuja Housing and Urban
Infrastructure Company Limited and West Bengal Housing Board Ambuja has taken the Real
Estate Development through the companies like AHUICL,ARDL,AAHUIL,BAMDL and many
others. The company aims at homes at an affordable price built on strong base and which brings
you close to Nature.

This is a booming real estate company of India. The biggest real estate company of India is
launching their most talked about project at the hottest location like Delhi. The company will
make dream homes for the Delhilites at a low price. The company is one among the key
determinants for real estate companies. The company is a trend setter in the industry of real
estate. The company has developed 42 million square feet of quality retail space in urban
locations and metros in India.

This is among the leading real estate companies in India. It has executed a a profusion in the
sector of urban real estate projects varying from Group Housing to Townships to luxury
apartments,shopping malls and complexes for office and amusement parks. For any query related
to real estate the company can be contacted in New Delhi.

The company is a major real estate company in India for the past three decades. The company
has

attributed

Townships

and

office

buildings

in

Kolkata, Ahmedabad,

shopping

malls,Hospitality ,Clubs etc in other destinations. It has also in its credit many prestigious
Commercial and residential complexes.

The key leader in the real estate sector is this property site. It is also the number one property site
of India. All the solutions related to real estate is at awaiting the click of a mouse. Just click any
of the cities say Pune, Kolkata, Ranchi,Bangalore etc. You can also avail the property rates of
various destinations like Kolkata, Chennai etc from this real estate site.

It is one among the top real estate companies in India. This Indian real estate company is a
complete guide for anything related to real estate. The company has organized process in the
field of Real Estate Marketing. The brochures provided by the company helps to make right
choice for buying a home. The company provides tips for selling a house or renting a house.The
company has a wide network in Jaipur,Visakhapatnam and Hyderabad.

A significant name in the Real Estate industry is NK Realtors. Rich portfolios of real estate
projects are in the kitty of the company. The company has delivered excellent quality work in the
real estate sector. The company has its base in Kolkata. The company offers services like
flats,bungalows,commercial,retail,Ware house etc.

This property site provides all the updated information about the real estate matters like Property
Alerts,Property Dealers,Property Buyers etc. It is a one stop destination for real estate in

Ahmedabad, Nagpur,Coimbatore etc. One can choose from a variety of options for residential
apartments from various cities.

This company is engaged in real estate business for the last five decades. Property development
activity is the agenda of the company. It has made significant achievements in the cities like
Bangalore, Pune, Secunderabad ,Nagpur and many others.The company's remarkable residential
projects are Mittal Park,Darya Mahal etc in the areas like Juhu Beach,Marine Drive etc.

This real estate company plays a major role in the real estate development business. The
company was awarded one among the top ten Construction company-'Best Construction & Real

Estate Sector Implementation'.The company has in its credit real reality business,retailing
outfits,hospitality sector. The company has its offices in Mumbai, Pune, Chennai,Bangalore etc.

It is a member of Bharti Enterprises. It deals in commercial, retail and residential real estate. For
the development purpose, they are focusing on Central Business Districts of important cities.
Check out the website for more details.

It gives services like Project Advisory Services, Project Finance Syndication ,Corporate Finance
Syndication ,Corporate Advisory Services ,Equity Solutions ,Property Solutions thus guidiing
you completely in property matters. For more details, visit this site.

This real estate company is currently working on many projects like Group Housing projects,
Shopping Malls & Commercial Complexes, Integrated Townships including a Hi-Tech
Township, Hotel projects. It was incorporated in 1989 as Omaxe Builders Private Limited and
hence is an experienced company. To know more, browse the site of this company.

FUTURE

Future is bright here: Real Estate Industry in India

The Real Estate industry in India is all time business. India is one of the most populated cities.
Moreover, it also is well known for the recent development. It is but obvious that if population is
more than development has to have. India real estate bubble is at its superior maximal.
All time financiers accept as true the proclamation to be appropriate if they inspect the new
development in real estate belongings and amplifies in its responsibility and outlay. Assets in
India are long-established to be an enterprise prospect increasing financiers currency in
exponential sequence. Indias real estate news demonstrates the precise market circumstances as
is noticeable on diverse assets places. Acquiring real estate in India is a valuable business

examining the growing inclination in the direction of possessions costs. The sky-scrapping costs
of accommodation on top of cost-effective realties crossways the state will surely give up
enormous proceeds as a venture business deal. Indian assets market presents immense outlay
prospects for general population by way of further income. Moreover, non resident Indians are
group of people who wish to buy property in India for investment. Indian Real Estate Industry
also offers good opportunities for them too. As the family earnings are rising day by day, people
have started to think about investment. Days are gone when people just remained dependent on
the earnings of their children. It is always difficult to invest in ornaments, so people are deciding
their future with wisdom. There were times when people had no homes and they used to live on
rent. But now the scenario has been changed and people have started to invest in real estate
industry. That is one of the reasons that the prices of assets are rising day by day and still people
taking keen interest in the industry. So, the future of real estate industry in India is very bright
and builders constructing buildings are getting huge benefit and people who are investing in
property will surely get advantage as this industry will never see downfall.
IMPORTANCE
Real Estate in India is one of the most important revenue generating sectors. The growth and
depreciation in this sector directly influences the economy. Having a property of your own is a
matter of pride especially for an Indian, attachment to the property is immense.
Also, this is the most profitable investment in India. Investment in property is believed to be the
smartest move as chances of loss is negligible. The growth graph of the Real Estate sector is
observed to be escalating day by day.
TRENDS

10

The growth is witnessed not only in the metropolitan cities like Delhi, Chennai, Mumbai,
Hyderabad, etc. but also in the surrounding regions. The suburban areas are also developing
at a faster pace and have opened the gates for investment.

Foreign investment: With the consistent growth of the sector, foreign investment is also
setting in. The raised bar and improved dealing has added to the growth of the real estate.
More and more NRIs and foreign investors are eyeing Indian property as lucrative. Worlds
renowned banks like Morgan Stanley, etc. are now investing huge sum of money in the
Indian Real Estate market. Due to their contribution the prices of the property have
tremendously hiked and large returns are assured.

FUTURE PREDICTIONS
As per the official reports the Indian Real estate has attained a twofold increase. The market
experts have predicted that the coming years will witness a boon in the Indian Real Estate
Scenario and property business will turn out to be a cash processing machine. Anyone investing
in property is sure to reap large profits.
FACTS
There are many unknown facts about India properties. In a country where there is traditionally
the predominance of the agricultural sector, that sector continues to be greatest source of

11

employment generation. It may be an unknown fact that the Indian real estate sector is the
second greatest employment provider in the country.
This sector significantly contributes to the national income and Gross Domestic Product and it is
expected there will be an average 10% increase annually in these aspects.
Yet another unknown fact about Indian real estate is underlying in Jones Lang LaSalles report
which says India property market will be in an upswing from the last quarter of 2009 and over
the next 5 years and the industry will attract up to US $ 12.11 billion investment.
It would be an unknown fact about in real estate India, that in the construction industry Indian
companies are making double the profitability for their projects when compared with their US
counterparts. Indian construction firms are making on an average 18 percent profit while the US
companies are making only half of that.
Another unknown fact is that foreign institutional investors (FIIs) are very much confident in
investing in Indian real estate and the there has been a whopping 400 percent increase in the past
six months.

12

CHAPTER 2
COMPANY
PROFILE

13

Bharti Builders & Promoters Pvt. Ltd. is an ISO 9001:2000 company established in 1996. The
main functions of BHARTI BUILDERS & PROMOTERS PVT. LTD. are to provide research
and consultancy services in the areas, which have bearing on the creation of social, economic
and physical infrastructure and built environment. These include, among others, Design and
Development of Human Settlements, Regional and Urban Planning, Environmental Planning,
Engineering, Architectural Design, Healthcare Design & Disaster Management. Key personnel
of BHARTI BUILDERS & PROMOTERS PVT. LTD. have worked in India and abroad and
have won competitions and awards for outstanding work.
OVERVIEW
Bharti Builders & Promoters Pvt. Ltd. (formerly known as Design and Development Forum) is
an ISO 9001:2000 certified company established in 1997. The main functions of BHARTI
BUILDERS & PROMOTERS PVT. LTD. are to provide research and consultancy services in the
areas which have bearing on the creation of social, economic and physical infrastructure and
built environment. These include, among others, Design and Development of Human
Settlements, Regional and Urban Planning, Environmental Planning, Engineering and
Architectural Design. Key personnel of BHARTI BUILDERS & PROMOTERS PVT. LTD. have
worked in India and abroad and have won competitions and awards for outstanding work.
Internationally, through its Headquarters in New Delhi, India together with a network of offices
and partners, BHARTI BUILDERS & PROMOTERS PVT. LTD. today provides architecture to
the global community bringing about creativity through diversity and expansion of ideas,
developing the most thoughtful environment for people to live and experience.

14

THE VERTICALS

15

STAFF

16

HEAD OFFICE & BRANCHES

India offices
Mumbai
Raipur
Kolkata
Agartala
Hyderabad Kanpur
Patna
Bareilly
Dehradun

Head Office
India, New Delhi
501,

B-9,

Netaji

ITL

Twin

Subhash

Towers,

Place,

Pitampura,

New

Delhi-110034

Phone:

47400500

Representative office
UAE, Dubai
Dubai
Al-ain

Outlet
Associate Office
Australia, Queensland

Dubai,

Mode

Phone: +971 50ABN

3642062 65

Mall,

Dubailand,
road,

Design
112

Corp
807

Woolloongabba,

931
Queensland

Australia
17

UAE
Pty
of

78

Annerley
4102

Ltd
Road,

PLANNING

18

BHARTI BUILDERS & PROMOTERS PVT. LTD. Master planning

BHARTI BUILDERS & PROMOTERS PVT. LTD. has a rich experience and expertise in
Master planning neo-cities across the globe
SEZ
Redevelopment Plans
Master planning
Zonal Planning

19

Regional planning
Mixed land-use planning

BHARTI BUILDERS & PROMOTERS PVT. LTD. Infrastructure and Tourism planning

20

Comprehensive Mobility Planning

City Development Plans

21

Transport planning
Tourism Development Planning
Tourism circuit planning

A PREMIUM PROJECT IN MASTER PLANNING

22

23

BHARTI BUILDERS & PROMOTERS PVT. LTD. Mixed Land-use Development Projects
BHARTI BUILDERS & PROMOTERS PVT. LTD. has been involved in few of the most path
breaking development concept projects across the globe
ARCHITECTURE
The wide Spectrum of Architecture division is described under which includes various sections
of Architecture :
EDUCATION
BHARTI BUILDERS & PROMOTERS PVT. LTD. has a strong portfolio of projects in the
educational sector. Large University Campus designs, Campus Redevelopment plans, Campus
Community Architecture, Medicine and Engineering colleges, Technology Institutes, Schools,
BHARTI BUILDERS & PROMOTERS PVT. LTD. has delved in a vide variety of Educational
Projects. The changing face of education and educating technology has brought about new
challenges for Architecture solutions. Our experts keep pace with the new trends and practices to
deliver over the edge, future ready solutions to our clients. BHARTI BUILDERS &

24

PROMOTERS PVT. LTD. is part of the new modern revolution of technology in education and
the projects which BHARTI BUILDERS & PROMOTERS PVT. LTD. has worked on has
become role models for the future. Education is ever evolving..so is our creativity..

BAU, Sabour, Bhagalpur,

IGIMS Campus, Patna, Bihar

CIMFR Campus, Dhanbad,

ESIC at Mandi, HimachalESIC at Bihta, Patna, Bihar

NIFT Campus at Shillong,

Pradesh

Meghalaya

VIMS,

Pawapuri,

Nalanda, Bihar

Distt.Sri Sri University at Cuttack,ESIC

Orissa

Dental

College,

Ludhiana, Punjab

MJK Hospital & College,GurukulaKangriVishwavidyalaya UIRD

Bettiah, Bihar

Uttarakhand

25

of

Rudrapur,

With the onset of the retail revolution in India, BHARTI BUILDERS & PROMOTERS PVT.
LTD. partnered with few of the best names in one of the biggest retail hub of the world
Dubai and provided retail Architecture to the evolving Retail and Commercial Industry in
India and then extending its arms to the middle east. BHARTI BUILDERS & PROMOTERS
PVT. LTD. delivered projects with the new concepts of retail. SCG Consulting LLC a
leading retail consulting firm of the middle east, is a strategic partner to provide not only
retail Architecture but retail solutions such as tenancy mix, Profit sharing policies and Mall
Mangement. We are equipped to provide end to end solutions in retail for our clients.
We are making landmarks and changing skylines with our retail and commercial
Architecture, we enhance the brand value of the project with our designs.
COMMERCIAL & RETAIL

Dubai OutletMosaic MallSun

Mall, Dubaiat
(Phase II)

City

Raipur,Center Mall

Chhattisgarh

26

City

Plaza,Central

Amritsar

Agro Mall at

Promenade Panchkula,
Dubai

Haryana

BHARTI BUILDERS & PROMOTERS PVT. LTD. has developed housing projects of
various magnitude and scale, over the years. Our firm belief of livable cities and soulful
housing had made our projects as landmarks. The housing projects are developed with great
environment and modern infrastructure. Townships to Apartment housing, the Housing team
at BHARTI BUILDERS & PROMOTERS PVT. LTD. has been creating green footprints,
which are self sustaining and zero environment impact projects.
Each project is handled with utmost care of budget constrains, Site characteristics, and Target
users,adding value and brand to the project.
HOUSING

PUBLIC BUILDING

Convention Centre at Patna,Intermodal

Bihar

Terminal

Varanasi, U.P.

atESIC Sub-Reg. Off., Ludhiana,

Punjab

27

Check Post at Wagah-Attari,ESIC Reg. Off., Baddi, H.P.

ESIC

Regional

Punjab

Chandigarh

CHAPTER 3
28

Office

at

RESEARCH
METHODOLOGY

29

RESEARCH DESIGN & METHODOLOGY

Research Design
My research is DESCRIPTIVE RESEARCH as it includes a Questionnaire & Brochures. And I
am focusing on Giant Companies which are into Building & Construction Business and
understanding their need and providing them Architectural Services accordingly.
My Project is descriptive research due to the following factor:
It describes the characteristics of Corporate in Delhi & NCR.
It is carried out to estimate the approximate percentage of Clients who are ready to get
Associated with our Company.
It helps in determining the basic requirement of Builders while they are deciding on
Architectural Services.
Methodology

Data Collection Tools

(i) Primary Data

Most of the data that were collected for this research activity is primary in nature. The total
number of targeted respondents was 126 Builders & Developers within the period of 8 weeks.
Therefore the best method of concluding the data collection was to visit the clients and thereby to
proceed with the formal personal interviews with the sample respondents.

30

Refer to the appendix for the documents

(ii) Secondary Data
Secondary Data was collected from sources at the office, and websites.
(iii) Variables Involved
Type of Customer
Service offered.
Client expectations from company and also from the services .
SAMPLE UNIT
As the project was being done for the DELHI branch of the BHARTI BUILDERS &
PROMOTERS PVT. LTD. the sample unit taken
Was Real estate developers & builders of DELHI.
SAMPLE SIZE
The sample size selected was 450 in which 100 companies were those from which appointment
has to be taken & from other 350 companies id has to be taken. This was due to the time faced by
the me during the project.

31

DATA COLLECTION
In dealing with any problem it is often found that data at hand are inadequate and hence, it
becomes necessary to collect data that are appropriate. There are two ways of collecting the data
i.e primary data & secondary data.
Primary data are collected through Telephonic Method which is the most popular method in this
method of data collection data collected through telephonic conversation.
Secondary data are collected through books, websites & newspaper.

32

CHAPTER 4
DATA ANALYSIS
AND
INTERPRETATION

33

5.1 DATA ANALYSIS

After collecting data the researcher starts analyzing part. The analysis in the project is based on
the data collected by me during my survey.
1. NO. OF POTENTIAL COMPANIES CALLED FOR APPOINTMENT IN DIFFERENT
PLACES
32

35
30

28
25

25
20

15

15
10
5
0
CANNAUGHT PLACE NOIDA

SOUTH X

OTHERS

Source Based on the Research Process

In the first figure the whole process of taking appointment are carried out in 4 location that is
Connaught place, Noida, South x& finally others (which include Rajinder place, green park &
hauj-khas etc.)

RESPONSE AT CONNAUGHT PLACE

34

15

16
14
12
10
8
6

4
1

2
0

send profile not interested appointment

others

Source Based on the Research Process

This figure shows at Connaught Place their were 5 companies to whom we send profile of our
company,4 were not interested,15 other shows (the concerned person were in meeting, not in
office, office closed),& at last 1 shows the no. of appointment generated at C.P.

RESPONSE AT NOIDA

35

16

15

14
12
10

8
6
4
1

2
0

send profile not interested appointment

others

Source Based on the Research Process

This figure shows at Noida their were 15 companies to whom we send profile of our company, 8
were not interested,8 other shows (the concerned person were in meeting, not in office, office
closed),& at last 1 shows the no. of appointment generated at Noida.

RESPONSE AT South x
36

7
7
6
5
4
3
2
1
0

Source Based on the Research Process

This figure shows at SOUTH X their were 7 companies to whom we send profile of our
company,2 were not interested,6 other shows (the concerned person were in meeting, not in
office, office closed),& at last no appointment generated at SOUTH X..

RESPONSE AT OTHER PLACES

37

13

14
12
10

8
6
4

5
2

2
0
send profile not interested appointment

others

Source Based on the Research Process

This figure shows at Other Places their were 1 companies to whom we send profile of our
company,5 were not interested,3 other shows (the concerned person were in meeting, not in
office, office closed),& at last 1 shows the no. of appointment generated at OTHER PLACES.

38

5.2 ADVERTISEMENT ANALYSIS

In Month of MAY
9

8
7
6
5

4
3
2
1

3 3

2
1

2
1 1

2 2
1

1 1

2
1

1 1 1 1

Source- Newspaper (Hindustan times, Economic Times, Times Property, Times of India)

39

In month of JUNE
14
12

12

10
8

8
6

6
4

4
2 1

4
3

22
1

111111

11

2
11 11 1

22

22

1111

Source- Newspaper (Hindustan times, Economic Times, Times Property, Times of India)

40

COMBINED RESULT OF MAY & JUNE

14
12

14
12

10
8
6
4
2
0
JAYPEE

ANSAL

VIPUL

Source- Newspaper(Hindustan times, Economic Times, Times Property, Times of India)

41

5.3 E-MAIL ID ANALYSIS

10

ID COLLECTED

25

NO. OF COMPANIES
50

200
0

50

100

150

200

Source Based on the Research Process

42

250

CHAPTER 5
FINDINGS AND
CONCLUSION

43

CONCLUSION

Before approaching to the Client, Plans have to be made which improves planning skills but
making plans on paper is not enough, one should know how to implement those plans which
enhance the decision making skill of the planner. So I can say that my planning and decision
making skills improved while working in BHARTI BUILDERS & PROMOTERS PVT. LTD

Reach the Client and implementing plan is not enough until one should have got convincing
power. I am glad to work with BHARTI BUILDERS & PROMOTERS PVT. LTD because there
I learn how to deal with different people in different manner.

By working in BHARTI BUILDERS & PROMOTERS PVT. LTD, I got an experience of

corporate world and now I am able to apply things practically in more effective way. I also learn
how to deal formally with senior level people in the companies and give presentation to them.

44

CHAPTER 6
Suggestions &
Recommendations

45

1) In this rush for faster growth a couple of fundamentally important aspects related to
the industry get completely sidelined. One relates to protecting the interest of the
consumers and the other equally important aspect relates to protection of public
interest. In the absence of an institutional framework to regulate the industry, and
the ensuing free for all environment, both these extremely important aspects get
ignored completely.
2) Builders typically try to maximize efficiency by constructing as much as possible on
a piece of land. In this process they also adopt some unfair practice like charging
buyers on the basis of super built area (SUA), whereas they deliver carpet area to
apartment owners. There is nonstandard definition of this Super Area concept, the
result being different projects in different locations are loaded with different
multiplying factors to compute super area. In cities like Mumbai almost 50%
loading is made on account of projections, common areas and balconies for
claiming such high super area.
3) In case of group housing projects, developers charge for all facilities from the
customers and try to retain many assets like parking, club, common areas and
services in their control. These practices give rise to disputes after new inhabitants
move in and also cause exploitation.
4) Some of the common consumer complaints against developers relate to registering
of the same property in the names of two or more buyers, not delivering the
promised built-up area and amenities, besides defaulting on refunds, and delaying
delivery. Some even charged interest for belated payments while not following the
same when it came to delays at their end. A few builders even cancelled allotments
on flimsy pretext after collecting large amounts as advance payments.
5) On top of all this builders have been known to encroach on public land, violate
building norms, illegally construct and sell properties, damage the environment,
draw ground water without obtaining approvals and pollute the environment by
adopting outdated construction technologies.
6) To prevent all this and regulate the trade the need for a regulatory authority is
acutely felt. Land being a state subject in India, Central Government can only enact
model regulatory provisions to guide State Governments and persuade them to
follow and enact similar laws.

46

7) More transparency in disclosures by developers about use of money collected from

customers, sale and purchase of apartments on the basis of carpet area and following
the building norms and protection of environment can be achieved by such a
framework.

8) Enabling flow of institutional money to creating infrastructure, and development of

habitable and environment friendly cities and towns, require progressive legislation
aimed at facilitating mobilization of public money through REITs, REIMFs and
structures like Tenants in Common Partnerships. These would enable legislation
keep pace with developments on ground and help regulate the growth of business in
the overall interest of all stakeholders.
9) The Government of India vide Press Note No. 2 of 2005, permitted FDI up to 100%,
under the automatic route in townships, housing, built-up infrastructure and
construction development projects. The main reason for opening up the real estate
sector to 100% FDI was to bridge the huge shortage of housing in the country and to
attract new technologies in the housing sector.
10) The original FDI guidelines issued vide the above press note attracted large amounts
of foreign funds to the Indian real estate sector however, subsequent amendments to
the FDI policy relating to real estate, have created unwanted apprehensions and
confusion in the minds of global investors thereby affecting FDI inflows adversely.
11) Further, lack of consistency in rules relating to development of SEZs, increased
monitoring of the sector by regulatory agencies, tightening of rules for lending to
the real estate sector and increase of key rates by the RBI several times during the
last one year, have arrested the growth of the sector. There is a need to streamline
government policies and introduce reforms to boost the real estate sector

47

BIBLIOGRAPHY

www.google.com

www.Bharti Builders & Promoters Pvt. Ltd.group.com

www.wikipedia.org

48

Bharti Builders & Promoters Pvt. Ltd

QUESTIONNAIRE
NAME :
DESIGNATION:
NAME OF ORGANIZATION:
ADDRESS:
CONTACT NO.:

(T) :
(M) :

E-MAIL ID:

Q1. How many years you have been into Real Estate Business?
0-5 Years

5-10 Years

Above 10 Years

Q2. The states or cities you are doing your projects?

_____________________________________________________________
Q3. What are your current projects?
_____________________________________________________________
Q4. What are your future projects?
_____________________________________________________________
Q5. What is the range of work your firm considers for?
Below 50 Lakhs

50L 1Crore

49

1 3Crores

3 5Crores

Above 5Crores

Q6. Do you have a business related website?

Yes

No

Q7. Have you been involved in any International Project?

Yes

No

Q8. Is the projects independently carried out?

Yes

No

Q9. Do you have in house architecture service or you enabled it from other source?
_____________________________________________________________

Q10. What problems do you face while dealing with an Architect?

_____________________________________________________________
Q11. What is your vision regarding association with new firm?
_____________________________________________________________

50