PROBLEM DEFINITION

Background
• This Case study Revolves around the understanding
the nature of : Buying Behavior Of Middle Income People In
Relation To Real Estate (2bhk And 3bhk Apartments)

• Seeking factors which guide the customers to invest

in real estate.

PROBLEM STATEMENT
The project had been undertaken with an objective to understand
the : Buying Behavior Of Middle Income People In Relation To
Real Estate (2bhk And 3bhk Apartments)
ETYMOLOGY:

Real estate is a legal term (in some jurisdictions, such as the

United Kingdom, Canada, Australia, USA and The Bahamas) that
encompasses land along with improvements to the land, such as
buildings, fences, wells and other site improvements that are fixed
in location—immovable.[1] Real estate law is the body of
regulations and legal codes which pertain to such matters under a
particular jurisdiction and include things such as commercial and
residential real property transactions. Real estate is often
considered synonymous with real property (sometimes called
realty), in contrast with personal property (sometimes called
chattel or personalty under chattel law or personal property law).
However, in some situations the term "real estate" refers to the
land and fixtures together, as distinguished from "real property",
referring to ownership of land and appurtenances, including
anything of a permanent nature such as structures, trees,
minerals, and the interest, benefits, and inherent rights thereof.
Real property is typically considered to be immovable property.[2]
The terms real estate and real property are used primarily in
common law, while civil law jurisdictions refer instead to
immovable property.
Major categories in Real Estate:
Attached / multi-unit dwellings
Apartment - An individual unit in a multi-unit building. The
boundaries of the apartment are generally defined by a perimeter
of locked or lockable doors. Often seen in multi-story apartment
buildings.
Multi-family house - Often seen in multi-story detached buildings,
where each floor is a separate apartment or unit.
Terraced house (a.k.a. townhouse or rowhouse) - A number of
single or multi-unit buildings in a continuous row with shared walls
and no intervening space.
Condominium - Building or complex, similar to apartments,
owned by individuals. Common grounds are owned and shared
jointly. There are townhouse or rowhouse style condominiums as
well.

Cooperative (a.k.a. "co-op) - A type of multiple ownership in

which the residents of a multiunit housing complex own shares in
the cooperative corporation that owns the property, giving each
resident the right to occupy a specific apartment or unit.

Semi-detached dwellings
Duplex - Two units with one shared wall.
Single-family detached home
Portable dwellings
Mobile homes - Potentially a full-time residence which can be
(might not in practice be) movable on wheels.
Houseboats - A floating home
Tents - Usually very temporary, with roof and walls consisting
only of fabric-like material.

These are some types of housing methods used the

world over.
However in India these may be classified as under:
Housing Societies (CGHS)
Condominiums
Builder flats
Chawls
Havelis

Our research was only regarding Apartments/Society. In our

research we had to lay a special emphasis on Buying Behavior Of
Middle Income People In Relation To Real Estate (2bhk And 3bhk
Apartments) so we took our research accordingly.

APPROACH TO THE PROBLEM

Objective/research
Foundation

Research questions
and hypothesis

Specification of
Information needed

Objective or theoretical framework

The objective of this research is to identify the factors that influence
buying behavior of middle income people in relation to real estate.

The research should corroborate the existing assumptions regarding

the influencing factors
RESEARCH METHODOLOGY
PRIMARY OBJECTIVE(S)

- To study the buying behavior of Middle Income People in regard to

purchase of Real Estate 2BHK AND 3BHK Apartments.

-To study the various elements that affect their buying behavior .

RESEARCH DESIGN

A proper plan was developed and finalized. Decisions regarding data

sources, research approaches, sampling plan formalized.

SAMPLE DESIGN

Sample size:

 Prospective Buyers – 200

Sampling method: Random & Judgmental sampling

SCOPE OF THE STUDY & EXPECTED CONTRIBUTION

The survey was conducted in Delhi & NCR. The respondents were
contacted for getting the questionnaires filled. For the sake of convenience
and keeping the information under control only Prospective Buyers were
selected for this survey.
This report will be useful for Real Estate Companies. It will help them in
developing a better product for people with average incomes.
LIMITATIONS
-In accurate disclosure on part of the respondents.
-Small Sample size represents a bird’s eye view of the overall
Prospective Buyers. But the survey results can be generalized for the
overall population of Prospective Buyers in Middle Income Group.