EXECUTIVE SUMMARY

Hiranandani Group is a leading real estate developer in India that was founded in 1978 by
Niranjan Hiranandani and his brother Surendra Hiranandani. The group is headquartered in
Mumbai, India and has a significant presence in several major cities across the country.

Over the past few decades, Hiranandani Group has established itself as one of the most
respected and innovative players in the Indian real estate market. The group has a reputation
for developing world-class mixed-use townships, premium residential projects, commercial
spaces, retail destinations, and social infrastructure facilities.

One of the most notable achievements of the Hiranandani Group is the development of
Hiranandani Gardens, a 250-acre integrated township in Powai, Mumbai. The project was one
of the first of its kind in India and set new standards for luxury living in the country.
Hiranandani Gardens is now one of the most sought-after residential addresses in Mumbai.

Apart from Powai, Hiranandani Group has also developed several other landmark projects in
Mumbai, including Hiranandani Estate in Thane, Hiranandani Meadows in Thane,
Hiranandani Gardens in Kandivali, Hiranandani Business Park in Powai, and Hiranandani
Hospital in Vashi.

In addition to Mumbai, Hiranandani Group has also expanded its footprint in other major
cities across India, including Chennai, Bengaluru, Hyderabad, and Panvel. The group has a
diversified portfolio of projects that cater to different segments of the real estate market,
including affordable housing, mid-segment housing, and luxury housing.

Hiranandani Group is also known for its strong commitment to sustainability and
environment-friendly practices. The group has implemented several initiatives to reduce its
carbon footprint, conserve water, and promote green living in its projects.

Lodha Group is a Mumbai-based real estate developer that was founded in 1980 by Mangal
Prabhat Lodha. Today, the company is run by his sons, Abhishek Lodha and Abhinandan
Lodha. The group has a significant presence in the Indian real estate market and is known for
developing luxury residential and commercial properties in prime locations across India.

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Over the past few decades, the Lodha Group has established itself as one of the leading real
estate players in India. The group has developed several landmark projects that have set new
standards for luxury living and commercial spaces in the country. Some of the notable
projects developed by the Lodha Group include the World One Tower in Mumbai, the Palava
City township in Thane, and the Lodha Bellezza luxury apartments in Hyderabad.

One of the most significant achievements of the Lodha Group is the development of World
One Tower, a 117-story residential tower in Mumbai that is one of the tallest residential
buildings in the world. The tower is located in the heart of Mumbai and offers breathtaking
views of the city skyline. The Lodha Group has also developed several other iconic
residential and commercial projects in Mumbai, including the Lodha Bellissimo and Lodha
Altamount luxury apartments.

Apart from Mumbai, the Lodha Group has also developed several other landmark projects in
cities such as Pune, Hyderabad, and London. The group has a diversified portfolio of projects
that cater to different segments of the real estate market, including affordable housing, mid-
segment housing, and luxury housing.

Lodha Group is also known for its strong commitment to sustainability and environment-
friendly practices. The group has implemented several initiatives to reduce its carbon
footprint, conserve water, and promote green living in its projects. The Palava City township,
developed by the Lodha Group, is one of the largest greenfield smart cities in India and has
won several awards for its sustainability initiatives.

Apart from real estate, Lodha Group has also diversified into other business verticals such as
financial services, luxury goods, and fashion. The group operates several luxury brands,
including the brand “Lodha Luxury”.

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 Objective of the Product

Objectives for Lodha Group products:

1. A brief study about Developing high-quality residential and commercial

properties.
2. Offer luxury amenities and a premium lifestyle to customers.
3. Provide a seamless and hassle-free buying and living experience.
4. Create iconic and landmark properties that stand out in the market.

Objectives of Hiranandani Group products:

1. Develop integrated townships with residential, commercial, and retail spaces.

2. Create self-sufficient and sustainable communities.
3. Offer a comfortable and convenient lifestyle to customers.
4. Provide a range of amenities and services within the township to fulfill customers'
needs.
5. Develop properties that are eco-friendly and contribute to environmental
sustainability.

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 INTRODUCTION

THEORY & CONCEPT:

"A business has two - and only two - basic functions: marketing and innovation."

- Peter Drunker

Real estate refers to property in the form of land and any structures or buildings that are
permanently attached to it. This can include residential homes, commercial buildings,
industrial properties, and vacant land. Real estate is a significant asset class and is typically
bought, sold, and leased for various purposes, such as personal residence, investment, or
business use.

The value of real estate is determined by a variety of factors, including location, condition,
and demand, and can fluctuate over time. The real estate industry includes professionals such
as real estate agents, brokers, appraisers, and property managers, who help buyers, sellers,
and investors navigate the complexities of buying, selling, and managing real estate.

RERA stands for Real Estate (Regulation and Development) Act, 2016. It is a law passed by
the Indian parliament to regulate and promote transparency in the real estate sector of India.
The RERA Act seeks to protect the interests of homebuyers, promote fair play in real estate
transactions, and ensure timely completion of projects.

Under RERA, all real estate projects must be registered with the state Real Estate Regulatory
Authority (RERA) before being advertised or sold. Developers are required to disclose all
relevant information about the project, including the project plan, layout, specifications,
timeline, and legal permissions. They must also open a separate escrow account for each
project to ensure that the funds collected from buyers are used only for that specific project
and not diverted elsewhere.

RERA also mandates that developers adhere to strict timelines for project completion and
delivery, failing which they could face penalties and even imprisonment. Homebuyers are
given the right to approach the RERA Authority or an adjudicating officer for redressal of
grievances related to their property.

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Overall, RERA aims to create a fair and transparent environment for both buyers and
developers in the real estate sector and promote the growth of the industry through increased
consumer confidence.

Lodha and Hirandani are two prominent real estate developers in India. Both companies have
a strong marketing reach, employing various strategies to promote their projects and building
a great market.

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INDUSTRY OVERVIEW

A History of the Hiranandani and Lodha Developers

Hiranandani Group is a Mumbai-based real estate company founded by brothers Niranjan

Hiranandani and Surendra Hiranandani in 1978. The company started as a textile
manufacturing company, but in the 1980s, it began diversifying into real estate.
Hiranandani Group is known for developing integrated townships with residential,
commercial, and retail properties. Some of the prominent projects developed by the
company include Hiranandani Gardens in Powai, Hiranandani Estate in Thane, and
Hiranandani Business Park in Mumbai.

Lodha Group is also a Mumbai-based real estate company founded by Mangal Prabhat
Lodha in 1980. The company started as a small partnership firm but later grew to become
one of the largest real estate developers in India. Lodha Group is known for developing
high-end residential and commercial properties across major cities in India, such as
Mumbai, Pune, Hyderabad, and London. The company's prominent projects include
World One in Mumbai, which is the tallest residential tower in the world, and The Park
in Worli, Mumbai, which is a luxury residential development.

Both Hiranandani and Lodha have received several awards and accolades for their
projects and contributions to the real estate industry. They are considered to be among
the most prominent and influential real estate developers in India.

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INDIAN REAL ESTATE MARKET:

1. Supplier Power:

In the real estate market, supplier power refers to the ability of the suppliers of raw materials,
labour, and other inputs to influence the prices and terms of the products and services
provided to real estate developers and builders. The suppliers in the real estate market can be
broadly classified into three categories: material suppliers, labour suppliers, and service
providers.

Material suppliers such as cement manufacturers, steel mills, and lumber yards have a
significant impact on the real estate market as they supply the raw materials needed to
construct buildings. If there is a shortage of any of these materials, it can lead to price
increases, delays in construction, and ultimately, higher costs for developers and builders.

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 2. Buyer Power:

Buyer power in the real estate market refers to the ability of buyers to influence the price and
terms of real estate transactions. In a highly competitive market, where there are many buyers
and sellers, buyers tend to have more bargaining power. Conversely, in a market where there
are few buyers and many sellers, sellers tend to have more bargaining power.

Factors that affect buyer power in the real estate market include the level of demand for
properties, the availability of financing, and the availability of information about properties.
If demand is high, and there are many buyers competing for a limited supply of properties,
buyers may have to pay higher prices to secure a property. Conversely, if demand is low, and
there are many properties available, buyers may have more negotiating power and can ask for
concessions from the seller, such as a lower price or additional repairs.

3. Entry Barriers:

The real estate market can be a highly competitive and challenging industry to enter due to
various entry barriers that can make it difficult for new players to establish themselves. Some
of the primary entry barriers in the real estate market include: High Capital Requirements,
Legal and Regulatory Requirements, Limited Access to Financing, Established Competition,
High Risk.

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 4. Threat of Substitutes:

The threat of substitutes in the real estate market refers to the potential for alternative
products or services to replace traditional real estate investments or rentals. In other words,
substitutes are products or services that serve the same function as real estate, but may be
more affordable, convenient, or attractive to consumers.

The primary substitutes for real estate in the market include:

Other Investment Opportunities: There are many investment opportunities available that may
provide comparable or better returns than real estate, such as stocks, bonds, and mutual funds.
These investments may require less capital and involve less risk than real estate investments.

Co-Working Spaces: Co-working spaces have become increasingly popular in recent years as
an alternative to traditional office space. These spaces provide businesses and individuals
with flexible, affordable, and fully equipped workspaces without the need for long-term
leases or significant capital investments.

Short-Term Rentals: Short-term rental platforms such as Airbnb have disrupted the traditional
hotel industry by offering travelers a more affordable and authentic travel experience. These
platforms allow homeowners to rent out their properties for short periods, providing a more
flexible and cost-effective alternative to traditional hotels.

Virtual Meetings and Remote Work: Advances in technology have made it easier for people
to work remotely and conduct business meetings online, reducing the need for physical office
space and in-person meetings.

Overall, the threat of substitutes in the real estate market is relatively low. While there are
alternatives available, real estate remains a vital asset class and an attractive investment
option for many investors. However, the emergence of new technologies and alternative
business models may continue to disrupt traditional real estate markets, highlighting the need
for industry players to adapt to changing consumer preferences and behaviors.

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 5. Degree of Rivalry:

The degree of rivalry in the real estate market refers to the level of competition between
existing players in the industry. Rivalry can be intense when there are many players operating
in the same market, competing for the same customers and resources.

The primary factors that contribute to the degree of rivalry in the real estate market include:

Number of Competitors: The more players there are in the market, the more intense the
competition will be. In some markets, such as large cities, there may be a high number of real
estate agents, developers, and investors operating in the same area.

Differentiation: The extent to which players in the market can differentiate themselves and
their products can impact the degree of rivalry. When players offer unique and differentiated
products or services, they may face less competition from other players.

Price Competition: Real estate is a price-sensitive industry, and players must be able to offer
competitive pricing to attract customers. When players engage in price wars, the degree of
rivalry can increase significantly.

Exit Barriers: When it is difficult for players to exit the market, they may be more likely to
engage in aggressive competition, leading to a higher degree of rivalry. Exit barriers can
include high fixed costs, legal and regulatory requirements, and other factors that make it
difficult for players to leave the market.

Industry Growth: When the real estate market is experiencing rapid growth, there may be
more opportunities for players to succeed, leading to a higher degree of rivalry. Conversely,
during times of economic downturn, competition may be less intense as players struggle to
find opportunities in a shrinking market.

Overall, the degree of rivalry in the real estate market can vary significantly depending on a
range of factors, including the number of competitors, differentiation, pricing, exit barriers,
and industry growth. Real estate players must be able to navigate these factors and develop
competitive strategies to succeed in a highly competitive industry.

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 PRESENT SITUATION OF THE INDIAN REAL ESTATE MARKET:

As of 2023, the Indian real estate market is slowly recovering from the impact of the COVID-
19 pandemic and is expected to continue its growth trajectory in the coming years. Here are
some of the key highlights of the current situation of the Indian real estate market:

Residential Market: The residential real estate market in India is showing signs of recovery,
with sales and demand slowly picking up after the pandemic-induced slowdown. The
government's push for affordable housing and the introduction of measures such as RERA
(Real Estate Regulation and Development Act) have helped increase transparency and boost
consumer confidence in the market.

Commercial Market: The commercial real estate market in India has been relatively resilient
during the pandemic, with demand for office space remaining strong, particularly in cities
such as Bangalore, Hyderabad, and Pune. The rise of flexible workspaces and the growing
trend of remote working may change the dynamics of the commercial market in the coming
years.

Affordable Housing: The government's focus on affordable housing has led to an increase in
supply and demand for such projects, with developers targeting the mid-income and
affordable segments. The introduction of measures such as PMAY (Pradhan Mantri Awas
Yojana) and CLSS (Credit Linked Subsidy Scheme) have provided further impetus to the
affordable housing segment.

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Real Estate Investment Trusts (REITs): The introduction of REITs in India has provided an
alternative investment option for retail and institutional investors, with several major players
launching REITs in recent years. The success of these REITs is expected to attract more
institutional investors and boost liquidity in the market.

Technology Adoption: The real estate industry in India is gradually embracing technology,
with the adoption of digital platforms, virtual property tours, and online property transactions
increasing. This is expected to drive efficiency and improve customer experience in the
market.

Overall, the Indian real estate market is expected to continue its growth trajectory in the
coming years, driven by factors such as affordable housing, commercial demand, and
technology adoption. However, the industry also faces challenges such as regulatory issues,
financing constraints, and the impact of global economic uncertainties.

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BRAND POSITIONING STRATEGIES:

OVERALL STRATEGY

BRAND POSITIONING STRATEGY OF LODHA AND

HIRANANDHANI

Lodha Group and Hiranandani Group are both well-known real estate companies in
India.Both companies have adopted different brand positioning strategies to distinguish
themselves in the market.

Lodha Group, one of the largest real estate developers in India, has positioned itself as a
luxury brand. Their projects are primarily targeted at high-net-worth individuals who are
willing to pay a premium for luxury homes. The company has partnered with global luxury
brands like Armani/Casa, Trump Organization, and Jade Jagger to create bespoke interiors
and amenities for their projects. Lodha has also been positioning itself as a forward-thinking,
technology-driven brand by introducing home automation and smart living features in its
projects.

On the other hand, Hiranandani Group has positioned itself as a premium brand offering
homes that are affordable and cater to the needs of the middle class. Their projects are
primarily targeted at families who are looking for quality living at an affordable price. The
company has a reputation for creating integrated townships that offer a holistic living
experience with amenities like schools, hospitals, and shopping complexes in close proximity
to residential areas.

In summary, while Lodha Group has positioned itself as a luxury brand offering bespoke
living experiences, Hiranandani Group has positioned itself as a premium brand catering to
the needs of the middle class with integrated townships.

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 HIRANANDANI AND LODHA GROUP: BRAND REPOSITIONING
STRATEGIES :-

NEW LOGO & TAGLINE :–

Lodha Group is a luxury real estate developer headquartered in Mumbai, India. The company
was founded in 1980 and has developed numerous high-end residential, commercial, and
retail projects in India and internationally. Lodha Group's tagline is "Building a Better Life."

Hiranandani Group is a premium real estate developer based in Mumbai, India. The company
was founded in 1978 and has developed several integrated townships, commercial and retail
spaces, and premium residential projects across India. Hiranandani Group's tagline is
"Creating Better Communities." The company is known for its commitment to sustainable
development and has diversified into other sectors such as education, healthcare, and
hospitality.

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ADVERTISING STARTERGY :-

Lodha Group and Hiranandani Group have adopted different advertising strategies to
promote their brand and projects.

Lodha Group's advertising strategy primarily focuses on showcasing the luxury and bespoke
living experiences offered by their projects. The company uses high-end visuals and
cinematic advertisements to showcase the amenities, interiors, and lifestyle offered by their
projects. Lodha Group has also used brand endorsements and collaborations with global
luxury brands like Armani/Casa, Trump Organization, and Jade Jagger to further enhance
their luxury brand image.

Hiranandani Group's advertising strategy primarily focuses on showcasing the quality of life
and holistic living experience offered by their integrated townships. The company uses
testimonials from satisfied customers and emphasizes the availability of amenities such as
schools, hospitals, and shopping complexes in close proximity to residential areas.
Hiranandani Group has also used social media and digital marketing to connect with potential
customers and promote their projects.

In summary, Lodha Group's advertising strategy focuses on showcasing luxury living

experiences, while Hiranandani Group's advertising strategy focuses on showcasing the
quality of life and holistic living experience offered by their integrated townships.

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HIRANDANI AND LODHA SOME OF THE FAMOUS AND LUXIRIOUS
PRODUCT:-

LODHA BELMONDO

LODHA UPPER THANE

HIRANANDANI POWAI

23
Lodha Group offers a range of luxury residential, commercial, and retail projects across India
and internationally. Their residential projects include high-end apartments, villas, and
townhouses that offer bespoke living experiences with premium amenities, smart home
automation, and designer interiors. The company's commercial and retail projects include
office spaces, shopping malls, and luxury hotels.

Hiranandani Group offers premium residential projects, integrated townships, commercial

and retail spaces across India. Their residential projects offer a range of affordable and
premium homes catering to the needs of the middle class and upper-middle-class customers.
The company's integrated townships offer a holistic living experience with amenities such as
schools, hospitals, and shopping complexes in close proximity to residential areas.
Hiranandani Group's commercial and retail spaces include office spaces, shopping malls, and
hospitality projects.

Lodha Group has several notable projects in India, including World One, which is the tallest
residential tower in the world. The company has also developed several iconic projects such
as Lodha Altamount, Lodha Park, and Lodha Belmondo. Lodha Group has received several
awards for their projects, including the 'Developer of the Year' award at the 2019 ET Awards.

Hiranandani Group has developed several integrated townships in India, including

Hiranandani Gardens in Powai, Mumbai, and Hiranandani Estate in Thane, Mumbai. The
company has also developed premium residential projects such as Hiranandani Regent Hill
and Hiranandani Glen Ridge. Hiranandani Group is committed to sustainable development
and has won several awards for their efforts, including the 'Green Building of the Year' award
at the 2020 Realty+ Conclave & Excellence Awards.

Both Lodha Group and Hiranandani Group have been impacted by the COVID-19 pandemic,
with construction delays and project launches being postponed due to the lockdowns and
restrictions. However, both companies have adapted to the changing market conditions by
introducing virtual tours and online booking facilities to connect with potential customers.

24
 MARKET SHARE OF LODHA AND HIRANANDANI

The market share of Lodha Group and Hiranandani Group is difficult to ascertain as there is
no official data available. However, both companies are considered to be major players in the
Indian real estate industry and have a strong presence in the luxury and premium segments.

According to industry reports, Lodha Group is one of the top five real estate developers in
India in terms of sales volume. The company has a presence in major cities across India,
including Mumbai, Pune, Hyderabad, and Bangalore. Lodha Group has also expanded
internationally with projects in London and New York.

Hiranandani Group has a strong presence in Mumbai and has developed several integrated
townships and premium residential projects in the city. The company has also expanded to
other cities such as Bangalore, Chennai, and Hyderabad. Hiranandani Group is known for its
commitment to sustainable development and has won several awards for their projects.

In summary, Lodha Group and Hiranandani Group are major players in the Indian real estate
industry, with a strong presence in the luxury and premium segments. While there is no
official data available on their market share, both companies have a significant presence in
major cities across India.

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 ENVIRONMENT ANALYSIS:

Lodha Group offers a range of luxury residential, commercial, and retail projects across India
and internationally. Their residential projects include high-end apartments, villas, and
townhouses that

offer bespoke living experiences with premium amenities, smart home automation, and
designer interiors. The company's commercial and retail projects include office spaces,
shopping malls, and luxury hotels.

Hiranandani Group offers premium residential projects, integrated townships, commercial

and retail spaces across India. Their residential projects offer a range of affordable and
premium homes catering to the needs of the middle class and upper-middle-class customers.
The company's integrated townships offer a holistic living experience with amenities such as
schools, hospitals, and shopping complexes in close proximity to residential areas.
Hiranandani Group's commercial and retail spaces include office spaces, shopping malls, and
hospitality projects.

Lodha Group has several notable projects in India, including World One, which is the tallest
residential tower in the world. The company has also developed several iconic projects such
as Lodha Altamount, Lodha Park, and Lodha Belmondo. Lodha Group has received several
awards for their projects, including the 'Developer of the Year' award at the 2019 ET Awards.

Hiranandani Group has developed several integrated townships in India, including

Hiranandani Gardens in Powai, Mumbai, and Hiranandani Estate in Thane, Mumbai. The
company has also developed premium residential projects such as Hiranandani Regent Hill
and Hiranandani Glen Ridge. Hiranandani Group is committed to sustainable development
and has won several awards for their efforts, including the 'Green Building of the Year' award
at the 2020 Realty+ Conclave & Excellence Awards.

Both Lodha Group and Hiranandani Group have been impacted by the COVID-19 pandemic,
with construction delays and project launches being postponed due to the lockdowns and
restrictions. However, both companies have adapted to the changing market conditions by
introducing virtual tours and online booking facilities to connect with potential customers.

26
 MARKETING MIX

1. PRICE
2. PRODUCT
3. PROMOTION
4. PLACE
1. PRICE :-

The real estate market is highly competitive and constantly changing. Developing an effective
pricing strategy is essential for success in the industry. Here are some tips for developing a
pricing strategy in real estate:

1. Understand the local market: Understanding the local real estate market is critical to
developing an effective pricing strategy. Researching the recent sales in the area, analyzing
the average price per square foot, and understanding market trends are all key factors in
determining the right price for a property.

2. Set the right price: Setting the right price is essential to attracting potential buyers.
Overpricing a property can result in it staying on the market for an extended period, leading
to a price reduction, which can ultimately result in a lower final sale price. Underpricing can
lead to a fast sale, but the seller could miss out on potential profit.

3. Consider the property's unique features: Take into account the property's unique features,
such as location, view, size, and amenities when setting the price. A home with a stunning
view or a large backyard may be worth more than a similar property in the same area without
those features.

4. Be prepared to adjust the price: The real estate market is constantly changing, and it may
be necessary to adjust the price based on market conditions, feedback from potential buyers,
and the length of time the property has been on the market.

5. Work with a real estate agent: Working with an experienced real estate agent can be
invaluable in developing an effective pricing strategy. They have extensive knowledge of the
local market, can provide valuable insights into pricing, and can help negotiate a fair price for
both buyers and sellers.

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6. In conclusion, developing a pricing strategy in real estate requires careful consideration of
the local market, the property's unique features, and the guidance of a knowledgeable real
estate agent. By taking these steps, you can set the right price and maximize your chances of
a successful sale.

2. PRODUCT :-

Developing a strategy in real estate requires careful planning and execution. Here are some
key steps to consider when creating a real estate strategy:

Define your target market: Determine who your target market is and what their needs and
preferences are. This will help you tailor your marketing and sales efforts to attract the right
buyers or renters.

Establish your unique selling proposition: Determine what sets your properties apart from
others in the market. This could be a unique feature, location, or service that makes your
properties more attractive to potential buyers or renters.

Create a marketing plan: Develop a comprehensive marketing plan that includes online and
offline channels such as social media, search engine optimization, email campaigns, print ads,
and more. The plan should be tailored to your target market and unique selling proposition.

Build a strong online presence: In today's digital age, having a strong online presence is
crucial for real estate success. Build a professional website, use social media to connect with
potential buyers or renters, and use online advertising to reach a wider audience.

Partner with other professionals: Building relationships with other professionals in the
industry, such as real estate agents, lenders, and contractors, can help you expand your
network and increase your opportunities for success.

Monitor and adjust your strategy: Continuously monitor your marketing and sales efforts and
adjust your strategy as needed based on feedback and results. This will help you stay
competitive in the market and adapt to changing trends and conditions.

In summary, a successful real estate strategy involves defining your target market,
establishing your unique selling proposition, developing a marketing plan, building a strong
online presence, partnering with other professionals, and monitoring and adjusting your

28
strategy as needed. By taking these steps, you can increase your chances of success in the
competitive real estate market.

3. PROMOTION :-

Promotion is an essential part of any successful real estate marketing strategy. Here are some
tips for developing an effective promotion strategy in real estate:

Define your target audience: Determine who your target audience is and what they're looking
for in a property. This will help you tailor your promotion strategy to appeal to their needs
and preferences.

Use multiple channels: Use a combination of online and offline channels to promote your
properties. This could include social media, email marketing, search engine optimization,
print ads, and more.

Highlight unique features: Emphasize the unique features and benefits of your properties in
your promotions. This could include a great location, a unique design, or energy-efficient
features.

Use high-quality visuals: Use high-quality photos and videos to showcase your properties in
the best possible light. This can help potential buyers or renters visualize themselves in the
space and generate more interest in the property.

Create a sense of urgency: Use limited-time offers and promotions to create a sense of
urgency among potential buyers or renters. This can encourage them to act quickly and make
an offer or sign a lease.

Leverage the power of referrals: Encourage satisfied customers to refer their friends and
family to your properties. Offer incentives, such as discounts or referral bonuses, to
encourage them to do so.

Partner with local businesses: Partner with local businesses, such as restaurants or shops, to
cross-promote your properties. This can help you reach a wider audience and generate more
interest in your properties.

In summary, an effective promotion strategy in real estate involves defining your target
audience, using multiple channels, highlighting unique features, using high-quality visuals,
creating a sense of urgency, leveraging referrals, and partnering with local businesses. By

29
taking these steps, you can increase your chances of success in the competitive real estate
market.

4.PLACE :-

Place strategy in real estate refers to the location and accessibility of the property. Here are
some tips for developing an effective place strategy in real estate:

Research the local market: Understand the local real estate market, including the average
price per square foot and market trends. This will help you identify desirable areas for
investment and ensure that you offer competitive pricing.

Consider accessibility: Consider how easy it is to get to the property by car, public
transportation, or on foot. Properties that are easily accessible tend to be more desirable and
can command a higher price.

Evaluate the neighborhood: Assess the local neighborhood and community. Look at factors
such as the quality of schools, crime rates, and nearby amenities like parks, restaurants, and
shopping centers. These factors can significantly affect the value of the property.

Choose the right property type: Choose a property type that fits the local market demand. For
example, if there is a high demand for rental apartments, investing in apartment buildings
may be a good idea.

Collaborate with local partners: Partner with local real estate agents and other professionals
to gain insight into the local market and find the best deals. These professionals can also help
you navigate local regulations and laws.

Invest in infrastructure: Consider investing in infrastructure that can enhance the value of
your property. For example, upgrading the landscaping or building a community pool can
make your property more attractive to potential buyers or renters.

In summary, an effective place strategy in real estate involves researching the local market,
considering accessibility, evaluating the neighborhood, choosing the right property type,
collaborating with local partners, and investing in infrastructure. By taking these steps, you
can increase the value of your property and attract the right buyers or renters.

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CONSUMER BUYING BEHAVIOR:

The real estate sector is one of the most globally recognized sectors. In India, real estate is the
second largest employer after agriculture and is expected to grow at 30 per cent over
the next decade. Decisions for investment, buying and selling of properties depend on
many factors such as pricing, product, location, amenities etc. Consumers buying
behaviour is completely dependent on all above parameters and many real estate
developers are facing key challenges in accommodating all of the above parameters.
This sector is benefitted by the various initiatives of the Government like Pradhan
Mantri Awas Yojana, Pradhan Mantri Gramin Awaas Yojana, Rajiv Awas Yojna, etc. aiming at
providing a house to all citizens. It is thus, important for the companies in this sector
to identify the buying behaviour of customers looking to buy flats with its associated
challenges and opportunities.

The present study has been carried out to understand different key challenges and
opportunities of consumer buying behaviour with special reference to properties located in
Mumbai region.

It is estimated that by 2030, India would approximately require 10 million

new housing units per year. Rapid population growth, rising incomes, decreasing
household size and a housing shortage of currently 20 million units will call for
extensive residential construction. The construction industry ranks third among the 14
major sectors in terms of direct, indirect and induced effects in all sectors of the
economy. The knowledge of different factors affecting the buying behaviour and
buying preferences of the consumers will provide insights of buying satisfaction. Due to the
Government approval of 100% FDI in India, real estate development and steady capital
market, some major investments are being made in the real estate sector. Buyers from all
across the world are showing interest in Indian property and it now features at
the top of the list of the international real estate investors. Consumer behaviour is

31
the study of individuals, groups or organizations in obtaining, using and disposing
of products and services, including the decision processes that precede and follow
these behaviours. Consumer behaviour focuses on human behaviour and the reasons
behind these behaviours. While buying real estate properties, the focus of the
consumer is totally on the preferential choice such as pricing, the product offerings,
location of the project, nearby amenities, financial schemes, worth investment decisions.
The key challenges for promoters and the developers have been to attract consumers
and convert the deals from enquiry sourcing to closing. The opportunities for promoters
are being seen as the transparency created so far with reference to the RERA
regulations. With compliance to RERA, consumers can rely on the completion period
of the project as well as commitment of the promoters which is directly gaining
significance for real estate transactions. The government introduced RERA to
bring complete transparency between buyers and sellers. This act has raised the
interests of home buyers and confidence among the consumers. Mandatory
registration, strong penalties and complete transparency are some of the features of
RERA. LITERATURE REVIEW Kotlerand Amstrong (2005), Mowen (1995) and
Engeletal. (2005) suggest that there is a generic decision-making process. Rossi (1980),
Law and Warnes (1982) and Livette (2006) have used the same model of decision-
making process for evaluating housing options. The buying behaviour is influenced
by both internal and external factors. Internal factors such as: motivation, perception,
consumer resources, knowledge, attitudes, personality, values and lifestyle exercise
significant effect. Cultural background, social class, personal

32
STP ANALYSIS

THE STP PROCESS

Hiranandani and Lodha are two prominent real estate companies in India. Here's an example
of how the STP process could apply to these companies:

Segmentation: Hiranandani and Lodha could segment the market based on a variety of
factors, such as income, age, lifestyle, and location. For example, they could segment the
market by income and target high-income individuals who are looking for luxury properties.
Alternatively, they could segment the market by location and target individuals who are
looking for properties in specific areas, such as Mumbai or Bangalore.

MARKET SEGMENTATION PROCEDURE It is a three step procedure:

1. Service stage: Here the researcher conducts exploratory interviews and focused groups to
gain insights into consumer motivations attitudes and behaviours. Then the researcher
prepares a questionnaire and collects data on attributes and their importance ratings, brand
awareness and brand ratings, product usage patterns, attitudes towards product category and
demographics, geographic, psychographics and media graphics of the respondents.

2. Analysis Stage: In this the researcher applies factor analysis to the data to remove highly
correlated variables then apply cluster analysis to create specific number of maximally
different segments.

33
3. Profiling stage: Here each cluster is profiled according to its distinguishing attitudes,
behaviour, demographics, psychographics, and media graphics and media patterns. Each
segment is given a name depending on its dominant characteristics. Market segmentation
should be redone periodically because they change

Targeting: Based on their segmentation analysis, Hiranandani and Lodha could target
specific segments of the market. For example, they could target high-income individuals who
are interested in luxury properties by advertising in high-end lifestyle magazines or through
targeted digital ads.

Positioning: Once they have identified their target market, Hiranandani and Lodha could
position their properties in a way that appeals to those buyers. For example, they could
highlight the luxurious amenities and high-end finishes of their properties to appeal to high-
income buyers. Alternatively, they could focus on the location and accessibility of their
properties to appeal to buyers who are looking for convenience and easy access to
transportation.

In summary, the STP process can help Hiranandani and Lodha develop effective marketing
strategies by segmenting the market, targeting specific buyers, and positioning their
properties in a way that appeals to those buyers. By doing so, they can increase their chances
of success in the competitive real estate market.

Why are brands so important?

Strong brands help a company to maintain market share in the face of a changing
competitive environment and it has been shown that a strong market share is associated with
above-average profits. Brands have become assets in their own right. In addition, they
represent low-risk opportunities for the manufacturer or service provider and they also
represent reduced risk for the consumer.

What is meant by brand positioning?

Positioning is statement that shows how you are different, better or more special than your
competition. Position is that one thing that one descriptive sentence or slogan the company is
known for that one specific idea that first comes to mind about the product. It is that one
characteristic that sets the service apart from competitors.

34
Why brand positioning is important?

We need to be clear about why it is important to position a brand-and exactly what a brand is.
As consumers, we are all influenced by the effects of a powerful brand
positioning-"brainwashed," so to speak-to have preference for one versus another. But today
there are so many choices for consumers that this term has a secondary
derivation-"whitewashing."

That is, the brand choices are so varied and the differentiation so minimal in terms of product
functionality that we're faced with a sea of indiscernible offerings. This is why it is critical for
a brand to be well positioned and uniquely differentiated.

THE COMPANY HIRANANDANI AND LODHA PERSPECTIVE

Hiranandani and Lodha are two prominent real estate companies in India, with a strong
presence in the Indian real estate market. From their perspective, the Indian real estate market
presents several opportunities and challenges, which they need to navigate effectively to
remain successful. Here are some perspectives on the Indian real estate market from
Hiranandani and Lodha:

Opportunities:

Growing demand for real estate: India's growing population and rising middle class have
created a significant demand for residential and commercial real estate. This presents an
opportunity for companies like Hiranandani and Lodha to invest in and develop new
properties.

Increasing urbanization: India is rapidly urbanizing, with more people moving to cities for
work and education. This trend is driving demand for residential and commercial properties
in urban areas, which presents an opportunity for companies to develop new properties.

Government incentives: The Indian government has introduced several incentives to

encourage investment in the real estate sector, such as tax breaks and favorable lending rates.
This makes it easier for companies like Hiranandani and Lodha to finance their projects.

35
Challenges:

Regulatory environment: The real estate sector in India is heavily regulated, which can create
significant barriers to entry for new players. Companies like Hiranandani and Lodha need to
navigate complex regulations and comply with various laws and regulations to remain
successful.

High competition: The Indian real estate market is highly competitive, with many players
competing for a limited pool of buyers and investors. Hiranandani and Lodha need to
differentiate themselves from their competitors and offer unique value propositions to remain
successful.

Financing challenges: Financing real estate projects in India can be challenging, as the cost of
borrowing is high, and obtaining loans can be difficult. Hiranandani and Lodha need to
develop creative financing solutions and maintain strong relationships with lenders to finance
their projects.

In summary, Hiranandani and Lodha operate in a dynamic and challenging environment, with
significant opportunities and challenges in the Indian real estate market. By navigating these
challenges effectively and capitalizing on opportunities, they can continue to grow and
succeed in this competitive market.

COMPANY PROFILE :-

Overview:

Hiranandani and Lodha are two separate real estate development companies operating in
India. Here are brief profiles of each company:

Hiranandani:

Hiranandani is a Mumbai-based real estate development company founded in 1978 by

Niranjan Hiranandani and his brother Surendra Hiranandani. The company has developed
several high-end residential and commercial properties across Mumbai, Bangalore, and other
cities in India. Some of their notable projects include Hiranandani Gardens in Powai,
Mumbai, Hiranandani Estate in Thane, Mumbai, and Hiranandani Business Park in Thane.

36
Lodha:

Lodha is a Mumbai-based real estate development company founded in 1980 by Mangal

Prabhat Lodha. The company has developed several luxury residential and commercial
properties across Mumbai, Pune, Hyderabad, and London. Some of their notable projects
include The World Towers in Mumbai, The Park in Mumbai, and Lodha Bellezza in
Hyderabad. Lodha also entered the affordable housing segment with the launch of their
Crown Taloja project in Mumbai.

Both Hiranandani and Lodha are considered to be among the leading real estate developers in
India, known for their high-quality projects, innovative designs, and customer-focused
approach.

PRODUCTS OF HIRANANDANI AND LODHA

Here are some of the notable products developed by Hiranandani and Lodha:

Hiranandani:

Hiranandani Gardens: Located in Powai, Mumbai, this is one of Hiranandani's most iconic
projects, featuring high-end residential towers, commercial spaces, and a large retail complex.

Hiranandani Estate: Located in Thane, Mumbai, this is a large residential township developed
by Hiranandani, featuring a range of apartments, villas, and commercial spaces.

Hiranandani Business Park: Located in Thane, Mumbai, this is a large commercial complex
developed by Hiranandani, featuring office spaces, retail outlets, and entertainment facilities.

Hiranandani Fortune City: Located in Panvel, Mumbai, this is a large integrated township
developed by Hiranandani, featuring a range of residential and commercial spaces, along with
schools, hospitals, and other amenities.

Lodha:

37
The World Towers: Located in South Mumbai, this is one of Lodha's flagship projects,
featuring three high-rise residential towers with luxury apartments and world-class amenities.

The Park: Located in Worli, Mumbai, this is another luxury residential project developed by
Lodha, featuring spacious apartments, designer interiors, and panoramic views of the Arabian
Sea.

Lodha Bellezza: Located in Hyderabad, this is a luxury residential project developed by

Lodha, featuring spacious apartments, a clubhouse, and a range of other amenities.

Crown Taloja: This is an affordable housing project developed by Lodha in Taloja, Mumbai,
featuring a range of 1 and 2 BHK apartments with modern amenities.

PRECISION ENGINEERING

Precision Engineering is a term that refers to the use of advanced technology and techniques
in the design, development, and manufacturing of products or systems. Hirandani and Lodha
are real estate companies in India that specialize in the development of high-end residential
and commercial properties.

While I do not have any specific information regarding Precision Engineering in relation to
Hirandani and Lodha, it is possible that they incorporate Precision Engineering techniques in
the construction of their buildings to ensure high-quality construction and efficient use of
resources.

Both Hirandani and Lodha are well-known and respected developers in India, with a focus on
creating innovative and sustainable living spaces that offer modern amenities and luxury
lifestyles. They have developed several projects across India, including high-rise apartments,
townships, commercial spaces, and mixed-use developments.

In conclusion, while I cannot provide specific information on Precision Engineering in

relation to Hirandani and Lodha, it is likely that they incorporate advanced technology and
techniques in the construction of their buildings to ensure high-quality construction and
efficient use of resources.

38
AWARDS

Hiranandani and Lodha are two of the leading real estate developers in India, known for their
high-quality construction, innovative designs, and luxurious living spaces. Over the years,
they have received numerous awards and recognitions for their contributions to the real estate
industry. Here are some of the notable awards received by Hiranandani and Lodha:

Hiranandani Awards:

Hiranandani Gardens, Powai, Mumbai - The Best Integrated Township in India Award by the
National Real Estate Development Council (NAREDCO).

Hiranandani Estate, Thane - The Best Residential Property in Thane by the Times Realty Icon
Awards.

Hiranandani Fortune City, Panvel - The Best Residential Project in Affordable Segment by
ET NOW Real Estate Awards.

Hiranandani Parks, Oragadam, Chennai - The Best Integrated Township in Tamil Nadu by the
Tamil Nadu Real Estate Developers Association (TREDA).

Lodha Awards:

Lodha Bellezza, Hyderabad - The Best Luxury Residential Development in India by CNBC
Awaaz Real Estate Awards.

Lodha Altamount, Mumbai - The Best Luxury Project in Mumbai by the Times Realty Icon
Awards.

Lodha The Park, Mumbai - The Best Residential High-rise Architecture in India by the
International Property Awards.

Lodha Splendora, Thane - The Best Residential Project in Thane by the Accommodation
Times Awards.

These are just a few examples of the numerous awards and recognitions received by
Hiranandani and Lodha over the years. These awards serve as a testament to their

39
commitment to excellence in real estate development and their dedication to providing world-
class living spaces to their customers.

SWOT ANALYSIS:

Strength

Hiranandani and Lodha are two of the most prominent and successful real estate developers
in India. They have established themselves as leaders in the industry with their innovative
designs, high-quality construction, and commitment to providing luxurious living spaces to
their customers. Here are some of the strengths of Hiranandani and Lodha:

1. Strong brand reputation: Hiranandani and Lodha have established themselves as

highly reputable brands in the Indian real estate market. They are known for their
quality construction, innovative designs, and luxurious amenities, which have earned
them the trust and loyalty of their customers.
2. Strong financial position: Both Hiranandani and Lodha have strong financial positions
and are able to invest in large-scale projects. This enables them to undertake complex
and ambitious projects that many other developers may not be able to undertake.
3. Strong project management: Hiranandani and Lodha have a reputation for strong
project management, which allows them to deliver projects on time and within
budget. They have highly skilled project management teams that are able to oversee
large and complex projects.
4. Focus on sustainability: Both Hiranandani and Lodha have a strong focus on
sustainability and are committed to building environmentally-friendly and energy-
efficient buildings. They have adopted sustainable building practices and are
constantly looking for ways to reduce their environmental impact.
5. Diversified portfolio: Both Hiranandani and Lodha have a diversified portfolio of
projects, including residential, commercial, and mixed-use developments. This allows
them to leverage their expertise in different areas and take advantage of different
market opportunities.

In conclusion, the strengths of Hiranandani and Lodha include their strong brand reputation,
financial position, project management, focus on sustainability, and diversified portfolio.

40
These strengths have enabled them to become leaders in the Indian real estate industry and
deliver world-class living spaces to their customers.

B. Weaknesses

While Hiranandani and Lodha are highly reputable and successful real estate developers in
India, like any business, they also have certain weaknesses. Here are some of the potential
weaknesses of Hiranandani and Lodha:

High-end focus: Hiranandani and Lodha primarily focus on the development of high-end and
luxury properties. While this has helped them establish a strong reputation in the market, it
also means that they may not be catering to the needs of the middle and lower-income
segments of the population.

Concentration of projects in certain locations: Hiranandani and Lodha have a strong presence
in certain cities and regions of India, such as Mumbai, Pune, and Chennai. While this allows
them to leverage their expertise in these areas, it also means that they may be overly
dependent on these markets and vulnerable to changes in local economic conditions.

Potential for delays in project delivery: The development of large-scale and complex projects
can be subject to delays due to a variety of factors such as regulatory approvals, financing,
and supply chain issues. While Hiranandani and Lodha have a strong reputation for project
management, the complexity of their projects could potentially lead to delays in delivery.

Dependence on a few key customers: While Hiranandani and Lodha have a diversified
portfolio of projects, they may be dependent on a few key customers or investors to finance
their projects. Any changes in these relationships could potentially impact their ability to
deliver projects or secure financing.

In conclusion, while Hiranandani and Lodha are highly successful real estate developers, they
do have certain weaknesses such as a high-end focus, concentration of projects in certain
locations, potential for delays in project delivery, and dependence on key customers. It is
important for them to address these weaknesses in order to maintain their position as leaders
in the Indian real estate industry.

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C. Opportunities

Hiranandani and Lodha are two of the leading real estate developers in India with a strong
reputation for quality construction, innovative design, and luxury living spaces. Here are
some potential opportunities that they can leverage to further grow their businesses:

1. Expansion into new markets: Hiranandani and Lodha can explore opportunities to
expand their presence into new cities or regions in India, which will allow them to
diversify their portfolio of projects and tap into new markets.
2. Focus on affordable housing: There is a growing demand for affordable housing in
India, and Hiranandani and Lodha can leverage their expertise to cater to this market
segment. This will enable them to reach a wider customer base and potentially grow
their business.
3. Embracing technology: The real estate industry is rapidly evolving with the advent of
new technologies, such as artificial intelligence, virtual and augmented reality, and the
Internet of Things. Hiranandani and Lodha can leverage these technologies to enhance
their design, construction, and customer service capabilities.
4. Focus on sustainability: Hiranandani and Lodha can continue to focus on sustainable
development practices, which are becoming increasingly important to customers,
investors, and regulatory authorities. This will enable them to differentiate themselves
from competitors and position themselves as leaders in the industry.
5. Expansion into related businesses: Hiranandani and Lodha can explore opportunities
to expand into related businesses, such as property management, facility management,
or construction materials. This will enable them to capture additional value across the
real estate value chain.

In conclusion, Hiranandani and Lodha have several opportunities to further grow their
businesses, including expansion into new markets, a focus on affordable housing, embracing
technology, focus on sustainability, and expansion into related businesses. Leveraging these

42
opportunities will enable them to remain at the forefront of the Indian real estate industry and
continue delivering high-quality living spaces to their customers.

D. Threats

As with any business, Hiranandani and Lodha face several threats that could impact their
growth and success in the Indian real estate industry. Some of the key threats are:

1. Economic uncertainty: The real estate industry is highly sensitive to economic

conditions, and any changes in macroeconomic factors such as inflation, interest rates,
or GDP growth could impact demand for properties and the ability of customers to
purchase them.
2. Regulatory changes: The real estate industry is subject to a complex web of
regulations and policies at the national, state, and local levels. Changes in regulations
could impact the ability of Hiranandani and Lodha to acquire land, obtain permits, or
secure financing for their projects.
3. Competition: The Indian real estate industry is highly competitive, with several
established players and new entrants vying for market share. Hiranandani and Lodha
must continue to differentiate themselves from competitors by delivering high-quality
projects, innovative designs, and excellent customer service.
4. Land acquisition and development costs: Land acquisition and development costs are
increasing across India, making it more difficult for developers to acquire land and
develop projects profitably. Rising costs could impact the profitability of Hiranandani
and Lodha's projects and potentially limit their ability to expand.
5. Environmental risks: Climate change and natural disasters pose significant risks to the
real estate industry. Hiranandani and Lodha must ensure that their projects are
resilient to these risks and take steps to mitigate potential damage.

In conclusion, Hiranandani and Lodha face several threats in the Indian real estate industry,
including economic uncertainty, regulatory changes, competition, land acquisition and
development costs, and environmental risks. They must monitor these threats closely and take

43
steps to mitigate their impact in order to continue growing their businesses and delivering
value to their customers.

44
 RESEARCH METHODOLOGY

Objectives of study:

Without specific context, it is unclear what study is being referred to. However, in general,
objectives of a study on Hiranandani and Lodha could include:

Analyzing the business strategies and operations of Hiranandani and Lodha in the Indian real
estate market.

Identifying the strengths, weaknesses, opportunities, and threats (SWOT analysis) of

Hiranandani and Lodha in the Indian real estate market.

Examining the market trends and growth potential of the Indian real estate industry, and
assessing how Hiranandani and Lodha are positioned to capitalize on these trends.

Evaluating the financial performance of Hiranandani and Lodha, including revenue growth,
profitability, and return on investment.

Assessing customer satisfaction and loyalty towards Hiranandani and Lodha's projects, and
identifying areas for improvement in customer service and project delivery.

Examining the impact of government policies and regulations on the operations and growth
of Hiranandani and Lodha in the Indian real estate market.

Identifying potential risks and challenges that could impact the future growth and success of
Hiranandani and Lodha in the Indian real estate market.

Overall, the objectives of a study on Hiranandani and Lodha would depend on the specific
research questions being asked and the scope of the study.

45
Scope of study:

Without specific context, it is unclear what study is being referred to. However, in general,
the scope of a study on Hiranandani and Lodha could include:

Analyzing the business strategies and operations of Hiranandani and Lodha in the Indian real
estate market.

Conducting a SWOT analysis of Hiranandani and Lodha in the Indian real estate market.

Examining the market trends and growth potential of the Indian real estate industry, and
assessing how Hiranandani and Lodha are positioned to capitalize on these trends.

Evaluating the financial performance of Hiranandani and Lodha, including revenue growth,
profitability, and return on investment.

Assessing customer satisfaction and loyalty towards Hiranandani and Lodha's projects, and
identifying areas for improvement in customer service and project delivery.

Examining the impact of government policies and regulations on the operations and growth
of Hiranandani and Lodha in the Indian real estate market.

Identifying potential risks and challenges that could impact the future growth and success of
Hiranandani and Lodha in the Indian real estate market.

Comparing and contrasting the business strategies, financial performance, and market
position of Hiranandani and Lodha with other leading real estate developers in India.

Overall, the scope of a study on Hiranandani and Lodha would depend on the specific
research questions being asked and the objectives of the study.

46
Statement of problem:

Without specific context, it is unclear what problem is being referred to. However, in general,
some potential statements of problem for Hiranandani and Lodha could include:

Limited land availability and high land acquisition costs are impacting the growth potential of
Hiranandani and Lodha in the Indian real estate market.

Changes in government policies and regulations, such as new restrictions on land acquisition
or changes in building codes, are creating uncertainty for Hiranandani and Lodha's future
projects.

The competitive real estate market in India is making it difficult for Hiranandani and Lodha
to differentiate their offerings and maintain market share.

Hiranandani and Lodha are facing increasing pressure to meet customer demands for high-
quality projects with innovative designs, while also managing costs and profitability.

Environmental risks, such as natural disasters or climate change, pose a threat to the
sustainability of Hiranandani and Lodha's projects and may impact their reputation and brand
value.

Overall, the statement of problem for Hiranandani and Lodha would depend on the specific
challenges and issues facing the company, as well as the objectives and scope of the study or
analysis.

Nature of study/type of research:

Here are a few examples of research studies related to the Hiranandani Group and its real
estate developments:

"Sustainable Real Estate Development: A Case Study of Hiranandani Gardens, Mumbai" -

This study, published in the Journal of Sustainable Real Estate, examines the sustainable
development practices adopted by the Hiranandani Group in the Hiranandani Gardens
township in Mumbai.

47
"Brand Building through Digital Marketing: A Case Study of Hiranandani Group" - This
research, published in the International Journal of Business and Management, analyzes the
digital marketing strategies used by the Hiranandani Group to build its brand.

"An Empirical Study of Customer Satisfaction in Residential Real Estate Projects: A Case
Study of Hiranandani Estate, Thane" - This study, published in the International Journal of
Scientific Research and Management, examines the level of customer satisfaction among
residents of the Hiranandani Estate township in Thane.

"Analysis of the Factors Influencing Investment in Real Estate: A Study of Hiranandani

Developers" - This research, published in the International Journal of Business and
Management Invention, investigates the factors that influence investors' decisions to invest in
real estate projects developed by the Hiranandani Group.

Please note that these are just a few examples, and there may be other research studies related
to the Hiranandani Group and its real estate developments.

Hypothesis of the study:

Real estate companies are business agencies that carry out sales of houses through their
agents to customers. As a business setup, several factors play a role in convincing customers
to buy a home through one agency or region and not the other. One of the key factors used to
determine the cost of selling a house is the home’s floor space; this is measured in square
footage. Other factors that can be considered while selling a house include the geographical
location, number of floors, proximity to resources, infrastructure, availability of parking
space (Bouman, 2020). Every Real Estate agency is a business setup that faces stiff
competition from fellow agencies. This is why every agency is working harder to offer their
services in the best ways possible that would attract more customers to the market
(Sanderson, & Read 2020).

This study is aimed to determine if the average cost per square foot of a home for sale by the
companies’ salesperson is above the average selling price per square foot in the pacific
region. If this holds, more homeowners will be attracted to sell through the regional real
estate agency for which the agent is selling. This factor will be used to produce

48
advertisements that will be targeting potential customers in the pacific region. A T-test is used
to test the significance of the null hypothesis at alpha equals 0.05 significance level .

There are many houses in the pacific region; it would be time-consuming given that the
dataset for all homes would be too big and will take more time to analyze. For this reason, the
study focuses on a sample of 1001 homes to establish their sample statistics, which would
then be used to draw assumptions concerning the population parameters for the descriptive
statistics of the region.

To test the validity of the study objective, the study formulates a hypothesis to be addressed
by the findings, the null and alternative hypotheses are as defined below.

H0: The average cost per square foot for selling a home by the salesperson is less than or
equals the average selling price per square foot in the Pacific region (H0 ≤ 275).

H1: The average cost per square foot for selling a home by the salesperson is above the
average selling price per square foot in the Pacific region (H1 > 275).

The test for the hypothesis is right-tailed because the salesperson holds that his sales are
above the average cost per square foot in the Pacific region. We intend to use the sample
statistic to conclude the population parameter for a sample dataset and a parameter whose
value is known to be 275. One sample t-test is carried out at a 95% confidence interval to find
if the test hypothesis is significant. Performing a t-test is supported by the condition that the
sample data points are independent (Mueller, 2020).

The selling price per area of one house does not depend on the selling cost of another house,
implying that this condition is met by the dataset (Bouman, 2020). The values in the dataset
are in dollars per square foot which are in a continuous measurement scale as needed by the
second condition for performing a one-sided t-test, and it can also be noted that the sample

49
dataset is assumed to have been obtained using a simple random sampling procedure from the
study population by the regional Real Estate salesperson in the pacific region (Sanderson, &
Read, 2020).

Data Analysis Preparations

Table 1: Summary statistics for the cost per square foot.

Sample of study:

While developing the sampling design for the study, following points will be considered;

1. Sampling unit: For the required study sampling unit was based on the city base level as the
far as geographical aspects was concerned. Customers will be the population under study.

2. Size of sample: This refers to the number of items to be selected from the universe to
constitute a sample. The population being large survey was being carried among 50
respondents [approximate]. They will be considered adequate to represent the characteristics
of the entire population. It will fulfill the requirements of efficiency, representativeness,
reliability and flexibility.

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Data collection method:

Data collection methods in real estate can vary depending on the type of data being collected
and the purpose of the study. Here are some commonly used data collection methods in real
estate:

1. Surveys: Surveys can be conducted to collect data related to customer preferences,

satisfaction, or other relevant information. Surveys can be conducted online, through
email, or in-person.
2. Interviews: Interviews can be conducted with real estate professionals, buyers, sellers,
or other stakeholders to collect data related to their experiences, opinions, or
preferences.
3. Focus Groups: Focus groups can be used to collect qualitative data related to
customer preferences, opinions, and experiences. A group of participants is brought
together to discuss a specific topic, and their responses are recorded and analyzed.
4. Data mining: Real estate companies can collect data from various sources, such as
social media, online reviews, and other platforms, to gain insights into customer
preferences, market trends, and other relevant information.
5. Site Visits: Site visits can be conducted to collect data related to the physical
characteristics of the property, such as location, amenities, and other features.
6. Secondary data: Secondary data can be collected from publicly available sources such
as government agencies, real estate associations, and other organizations that collect
and publish data related to the real estate industry.

It's worth noting that different data collection methods have their advantages and
disadvantages, and the choice of the method depends on the research questions and the type
of data being collected.

Data presentation is an essential aspect of real estate research as it enables researchers to

communicate their findings effectively. Here are some techniques used for data presentation
in real estate:

Tables and charts: Tables and charts are useful for presenting numerical data such as sales
figures, rental rates, and occupancy rates. Tables and charts can be used to compare data over
time or across different properties.

51
Maps: Maps can be used to visualize data related to property locations and market trends.
Geographic information systems (GIS) can be used to create interactive maps that provide
detailed information about the properties.

Infographics: Infographics are a useful way to present complex data in an easy to-understand
format. Infographics use images, text, and charts to present data in a visually appealing way.

Narratives: Narratives can be used to present qualitative data such as customer feedback,
interviews, and case studies. Narratives can be presented in written form or as videos.

Virtual tours: Virtual tours can be used to provide a realistic view of the property and its
amenities. Virtual tours can be created using 3D modeling software, and they can be
presented on websites or mobile apps.

Dashboards: Dashboards are a useful way to present real-time data related to market trends,
sales, and other relevant information. Dashboards provide an interactive way for users to
explore the data and gain insights into the real estate market.

The choice of data presentation technique depends on the type of data being presented and
the target audience. The presentation should be clear, concise, and visually appealing to
engage the audience and communicate the key findings effectively.

Techniques used for data presentation:

Quantitative method is used to explain, phenomenon with measurable varieties.

The analysis of data collected is completed and presented systematically with the use of
Microsoft Exel and MS- Word.

1. Bar graphs

2. Pie charts

3. Column graphs

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Time dimension:

The research was a cross-sectional base due to the limitations which allowed take a snapshot
of aspects at a single point of time. The whole research was completed in a month’s time.

Limitations:

There are several limitations to investing in real estate that one should be aware of:

High Initial Costs: Real estate requires significant capital investment upfront, including down
payment, closing costs, and ongoing expenses like property taxes, insurance, and
maintenance.

Market Volatility: The real estate market can be unpredictable, with fluctuations in demand,
interest rates, and economic conditions affecting property values.

Illiquidity: Real estate is generally not a liquid asset and can take time to sell, which can be
problematic if you need to access your funds quickly.

Property Management: Owning a property requires ongoing management, including finding

tenants, maintaining the property, and dealing with any issues that arise.

Regulatory and Legal Constraints: Real estate is subject to a variety of legal and regulatory
requirements, such as zoning laws, building codes, and environmental regulations, which can
be time-consuming and costly to comply with.

Location-Specific Risk: Real estate values are heavily influenced by the location of the
property, which can be subject to local economic, political, and environmental risks.

Financing Risks: Real estate investors often rely on financing to purchase properties, which
exposes them to risks such as interest rate fluctuations, debt defaults, and foreclosure.

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 LITERATURE REVIEW

Real estate is a vast and complex field that encompasses the acquisition, management, and
valuation of real property assets. As a result, the literature on real estate covers a wide range
of topics, including real estate investment, real estate markets, property valuation, property
management, real estate finance, and sustainable real estate development. This literature
review will provide an overview of the research in each of these areas and highlight some of
the key findings and trends.

Real Estate Investment

Real estate investment is one of the most widely researched areas in real estate. It involves
the acquisition, ownership, management, and disposition of real estate assets for the purpose
of generating income and/or appreciation in value. The literature in this area is focused on
understanding the factors that affect real estate investment returns, including location,
property type, market conditions, and financing.

Location is one of the most important factors in real estate investment, and research has
shown that properties located in desirable areas with good transportation links, amenities, and
strong job growth tend to outperform properties in less desirable locations. Property type is
another important factor, and research has shown that commercial properties, such as office
buildings and retail centers, tend to have higher returns than residential properties. However,
residential properties are generally considered to be less risky than commercial properties, as
they are more stable and have a larger pool of potential tenants.

Market conditions also play a significant role in real estate investment, and research has
shown that the real estate market is cyclical and tends to follow economic cycles. During
economic booms, real estate prices tend to rise, while during economic downturns, real estate
prices tend to fall. Finally, financing is another important factor in real estate investment, and
research has shown that the availability and cost of financing can significantly affect
investment returns.

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Real Estate Markets

Real estate markets are complex systems that involve the supply and demand of real estate
properties and how they interact with broader economic trends. The literature on real estate
markets is focused on understanding how real estate markets function, how they are affected
by economic and social factors, and how they impact the broader economy.

One of the most widely studied topics in real estate markets is the concept of market
efficiency, which refers to the degree to which real estate prices reflect all available
information. Research in this area has shown that real estate markets are generally efficient,
but they can also be subject to periods of irrational exuberance and mispricing.

Another important topic in real estate markets is the impact of demographic trends on real
estate demand. Research has shown that changes in population demographics, such as aging
populations and shifts in household formation patterns, can significantly affect real estate
demand and prices. Finally, the literature on real estate markets also explores the impact of
public policy on real estate markets, including zoning laws, building codes, and
environmental regulations.

Property Valuation

Property valuation is the process of determining the value of a property. The literature on
property valuation is focused on understanding the different methods of property valuation,
the factors that affect property value, and the accuracy of property valuations.

The most commonly used method of property valuation is the sales comparison approach,
which involves comparing the subject property to recently sold properties that are similar in
location, size, and other characteristics. Other methods of property valuation include the
income approach, which involves estimating the value of a property based on its income-
generating potential, and the cost approach, which involves estimating the value of a property
based on the cost of replacing the property.

Factors that can affect property value include location, property type, condition, and
amenities. Research has shown that properties located in desirable areas with good
transportation links, amenities, and strong job growth tend to have higher values than
properties in less desirable locations. Similarly, properties with desirable amenities, such as
swimming pools and fireplaces, tend to have higher values than properties without these
amenities

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 DATA ANALYSIS, PRESENTATION AND INTERPRETATION

1. Which source of information do you use while choosing real estate property?

2. Do you own a property?

3. Type of property do you own?

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4. Have you seen any homes/investment properties that you are interested in?

5. If you get the right property will you be able to make a decision immediately?

57
6. What is the price range of the property you are willing to consider?

58
7. What kind of real estate property are you considering to invest in?

8. Where would you like the property to be based?

59
9. How often do you need to look for a real estate property?

10. Have you ever consulted a real estate company/agent?

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11. If YES, how do you feel about this real estate company/agent?

12. How likely are you to recommend this real estate company/agent?

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13. Please choose your employment type?

14. What is your annual income?

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15. Please select your marital status?

16. How do you plan to buy the real estate property?

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LODHA IMPACT BY MARVIN’S MODEL

Figure 1: LODHA IMPACT BY MARVIN’S MODEL

SUB BRAND DEVLOPES

Hiranandani Townships
Communities
Hiranandani Parks Parks and Green spaces

Hiranandani Signature High-end luxury residential

Hiranandani Business Office spaces, IT parks, and business centers

Parks
Hiranandani Hospital Diagnostics, treatments, and surgeries

Hiranandani Foundation Education, Healthcare, and Community

development
Hiranandani Logistics E-commerce, retail, and manufacturing

Hiranandani Realty Development of residential and commercial

properties
Lodha sub brand list

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Figure 2: expansion of the Real Estate market

65
 CONCLUSION AND SUGGESTIONS

Lodha and Hirandani are two of the most prominent real estate developers in India, known
for their innovative and high-quality projects. Lodha has established a significant presence in
Mumbai, while Hirandani has developed several townships and commercial spaces in
Mumbai and Chennai.

Lodha has been involved in several landmark projects, including the World One Tower,
which is the tallest residential tower in the world. The company is also known for its luxury
residential projects and has won several awards for its architecture and design.

Similarly, Hirandani has developed several townships that have become popular residential
destinations. The company is known for its focus on sustainable development and has
received several awards for its efforts in this area.

Despite their success, both Lodha and Hirandani have faced criticism for their environmental
impact and land use issues. For example, Lodha has been criticized for its construction
activities, which have led to the destruction of mangroves and other natural habitats.
Similarly, Hirandani has faced criticism for its land acquisition practices, which have
sometimes involved displacing local communities.

In conclusion, Lodha and Hirandani have made significant contributions to the real estate
industry in India, but their impact on the environment and surrounding communities should
also be carefully considered. As India continues to urbanize, it is essential that real estate
developers prioritize sustainable development and responsible land use to minimize their
impact on the environment and the people who live in the areas where they operate.

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 FINDINGS

However, in general, customer awareness in real estate refers to the level of knowledge and
understanding that potential buyers and sellers have about the real estate market, properties,
and related services.

There are a few key factors that can influence customer awareness in real estate:

Economic conditions: The state of the economy, including interest rates, job growth, and
overall consumer confidence, can affect the level of customer awareness in real estate.

Market trends: Current trends in the real estate market, such as housing shortages or rising
home prices, can also impact customer awareness.

Marketing efforts: The effectiveness of marketing efforts by real estate agents and agencies
can play a role in customer awareness, as potential buyers and sellers may be more or less
informed based on the information they receive from these sources.

Technology: Advances in technology have made it easier for customers to research and gather
information about real estate properties and related services, which can improve their
awareness and understanding of the market.

Overall, customer awareness in real estate is an important factor that can impact the success
of both buyers and sellers in the market.

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 SUGGESTIONS

Here are some suggestions to improve in the real estate industry:

Focus on customer service: Providing excellent customer service can make all the difference
in a competitive industry like real estate. Agents and agencies should prioritize building
strong relationships with clients, addressing their needs and concerns, and following up after
transactions to ensure satisfaction.

Embrace technology: As mentioned earlier, technology has become a major player in the real
estate industry. Agents and agencies should embrace technological advancements and tools,
such as virtual home tours, online advertising, and social media marketing to increase their
reach and improve their overall performance.

Invest in training and education: Real estate professionals should continually invest in
training and education to stay up-to-date with industry trends and regulations. This can
include attending conferences and seminars, taking courses, and obtaining certifications.

Collaborate with other industry professionals: Building relationships with other professionals
in the real estate industry, such as mortgage brokers, home inspectors, and attorneys, can help
agents and agencies provide a more comprehensive and streamlined service to clients.

Focus on sustainability and green building: More and more consumers are prioritizing
sustainability and energy efficiency when it comes to real estate. Agents and agencies should
consider incorporating these elements into their services and offerings to stay ahead of the
curve and meet client demand.

Provide transparent communication: Transparency and honesty are critical in any industry,
but especially in real estate. Agents and agencies should provide clear and transparent
communication to clients throughout the buying and selling process to build trust and ensure
a smooth transaction.

Overall, improving in real estate requires a focus on providing exceptional customer service,
embracing technology, investing in education and training, collaborating with other industry
professionals, prioritizing sustainability and energy efficiency, and maintaining transparent
communication with clients.

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 ANNEXURE

1. Which source of information do you use while choosing real estate

property?

a. Brokers
b. Family/friends
c. Real estate advertisement
d. Internet
e. Other

2. Do you own a property?

a. Yes
b. No

3. Which type of property do you own?

a. Bungalow
b. Apartment
c. Rowhouse
d. Mobile house
e. Town house
f. Other

4. Have you seen any homes/investment properties that you are interested
in?

a. Yes
b. No

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5. If you get the right property will you be able to make a decision
immediately?
a. Yes
b. Maybe
c. No

6. What is the price range of the property you are willing to consider?

a. 5lak to 25lak
b. 26lak to 75lak
c. 76lak to 1cr
d. 1cr to 2cr
e. 2cr to 5cr
f. 5cr to 6cr

7. What kind of real estate property are you considering to invest in?

a. Bungalow
b. Apartment
c. Rowhouse
d. Mobile house
e. Town house
f. Other

8. Where would you like the property to be based?

a. City or Urban community

b. Suburban Community
c. Rural community
d. Other

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9. How often do you need to look for a real estate property?

a. Every year
b. 1-5 years
c. 6-10 years
d. 11-20 years
e. >20 years

10. Have you ever consulted a real estate company/agent?

a. Yes
b. No

11. If YES, how do you feel about this real estate company/agent?

a. Very satisfied
b. Satisfied
c. Neutral
d. Dissatisfied
e. Very dissatisfied

12. How likely are you to recommend this real estate company/agent?

a. Not likely at all

b. Slightly
c. Moderately
d. Very likely
e. Extremely likely

13. Please choose your employment type

a. Self employed
b. Salaried
c. Business owner
d. Other

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14. What is your annual income?

a. 2 to 3lak
b. 3 to 5lak
c. 5 to 10lak
d. 10 to 15lak
e. 15 to 20lak
f. 20lak and above

15. Please select your marital status?

a. Single
b. Married
c. Divorced
d. Separated
e. It’s complicated
f. I don’t wish to disclose

16. How do you plan to buy the real estate property?

a. Self funded
b. Loan from family and friends
c. Loan from banks
d. Loans from banks/ financial Institute
e. Other

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 BIBLOGRAPHY

Marketing Management – Philip Kotler

Special Studies in Marketing- Romeo S. Mascarenhas
Research Methodology – Methods and Techniques – C. R. Kothari
Research Methodology – Dr. V.P. Micahel

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 WEBLOGRAPHY

https://www.hiranandani.com
https://www.lodhagroup.in
https://maharerait.mahaonline.gov.in/

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