Home Buyer Perception Study
Understand Design Survey and Specification Requirement for Residential Property with the Target Respondents
Region:Asia
Author(s):Sunaiyna Varma, Rohit Bansal, Kirti Saraswat, Siddharth Raj
Product Code:KR1368
August 2023
103
About the Report
Overview:
Gurugram, also known as Gurgaon, is a rapidly developing city located in the National Capital Region (NCR) of India. It has witnessed significant growth in its real estate sector over the years due to its proximity to Delhi, excellent infrastructure, and the presence of numerous multinational corporations. The participants expressed a strong interest in purchasing residential apartments located in Transit-Oriented Development (TOD) areas. They highly value properties with easy accessibility, various amenities, open green spaces, and robust security measures.
This comprehensive report offers valuable insights and surveys conducted at Phoenix Market City from multiple perspectives, including customers and retailers. It serves as a rich source of in-depth data and information about the company, covering its structure, operations, SWOT analysis, product and service offerings, corporate actions, and face-to-face surveys. The report provides a 360-degree view, offering a holistic understanding of the company and its market presence.
Home Buyer Perception Study Analysis
Gurugram's strategic location near Delhi and its well-developed infrastructure, including highways and metro connectivity, make it an attractive choice for homebuyers. Proximity to workplaces, educational institutions, hospitals, and other essential services is a crucial factor for buyers.
Buyers demonstrated a readiness to stretch their budget by more than 10-15% to acquire a property in an ideal location with modern amenities. Additionally, they expressed a willingness to pay a premium based on factors such as the builder's reputation, the range of amenities provided, and the desirability of the location.
Customers exhibit a preference for higher floors, as they are willing to pay a premium for benefits such as enhanced natural light and ventilation, reduced noise pollution, and other advantages.
The majority of respondents conveyed their preference for residential units priced between INR 4-5 Cr., with 3BHK apartments emerging as the most favored type of housing.
The inclusion of commercial developments within the same compound evoked varied responses from customers. Around 40% expressed concerns about resident security, while the rest preferred having malls, offices, and hotels situated outside the compound. Additionally, only a minority of customers showed willingness to pay a premium price for this setup.
Scope of the Report
Detailed information on Home Buyer Perception Study required for business and competitor intelligence needs.
A study of the major internal and external factors affecting Home Buyer Perception in the form of a SWOT analysis.
An in-depth view of the business model of Home Buyer Perception including a breakdown and examination of key business segments.
Insight and Analysis of Survey Index, Face to Face Interviews for Home Buyer Perception Study, Gurugram.
News about Home Buyer Perception, Gurugram such as business expansion, restructuring, and contract wins.
Large number of easy-to-grasp charts and graphs that present important data and key trends.
Products
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:
- Real Estate Professionals
- Housing Market Analysts
- Home Builders
- Homebuying Educators and Counselors
- Homebuyers and Prospective Buyers
- Real Estate Marketers
- Retail Companies
- Potential Market Entrants
- Industry Associations
- Consulting Agencies
- Government Bodies & Regulating Authorities
Study Period for the Report:
2023
Table of Contents
1. Executive Summary
1.1 Executive Summary: Home Buyer Perception Study
2.Survey Respondents’ screening
2.1 Demographics of the Respondents (Gender, Age, Residency, Employment Scenario, Family Structure, etc.)
2.2 Property Orientation (Plans of purchase/invest, Property Location Preference, Construction Status, etc.)
2.3 Customer’s Perception Score (Experience in Buying Residential Property)
3. Design
3.1 Residential Property Location and Development Type Preference
3.2 Budget Range and Apartment Type
3.3 Layout Preferences (Balcony, Kitchen, Living/Dining Room, Utility Room, TV arrangement, etc.)
3.4 Size Requirements (Balcony, Master Bedroom, Other Bedroom, Living Room, Dining Room, Utility Room, Kitchen, Toilet, Puja/Storage Room)
3.5 Premium Feature Preferences and Payment Willingness (Density, Ceiling Height, Units per floor, Proximity to amenities, etc.)
3.6 Additional Requirements (Car Parking, Study/Servant Room, Commercial Development, Powder Room, Important factors, etc.)
4. Specifications
4.1 Key Specifications (Flooring preferences, Architect features, Amenities and Premium Pay)
4.2 Smart Home Technology (Importance of technology integration, Types of preferred smart devices, etc.)
4.3 Vaastu Compliance
4.4 Additional Features (Double Height Ceiling, Sky Garden)
5.Analyst Recommendations
5.1 Product Mix (Location Preferences, Housing Configuration, Layout and Room-wise Major Requirements, Amenities, Pricing and Premium Pay, Respondents’ Verbatims)
5.2 Consumer Insights (Consumer Priorities and Motivation, Residential Development Common Areas, In-house Components, Amenities)
6.Research Methodology
6.1 Market Definitions and Assumptions
6.2 Abbreviations
6.3 Research Approach (Quantitative Survey, In-Depth Interviews, Consumer Insights Study)
6.4 Sample Questions
Disclaimer
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Research Methodology
Step: 1 Identifying Key Variables:
Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.
Step: 2 Market Building:
Collating statistics on home buyer perception over the years, penetration of marketplaces and service providers ratio to compute revenue generated for home buyer perception. We will also review service quality statistics to understand revenue generated which can ensure accuracy behind the data points shared.
Step: 3 Validating and Finalizing:
Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.
Step: 4 Research output:
Our team has approached multiple Respondents, Retailers and understanded nature of product segments and sales, consumer preference and other parameters, which supported us validate statistics derived through bottom to top approach from home buyer perception.
Frequently Asked Questions
01 Which residential area is best in Gurgaon?
Golf Course Extension, Nirvana Country, South City 1, Palam Vihar, MG Road, Sushant Lok 1, and South City 2 are some of the best residential areas to live in Gurugram.
02 Which are the most developed areas in Gurgaon?
Golf Course Road, DLF Phase, Sohna Road, DLF Phase 2, Ambience Islands, DLF Phase 4, DLF Phase 3, and Golf Course Extension are some of the costliest sectors in Gurugram.
03 Which area are best for rent in Gurgaon?
Sector 51, Rosewood City, Sector 33, DLF Phase 5, and South City 2 are some of the best places to live in rent in Gurugram.
04 Which is the safest area to live in Gurgaon?
DLF City Phase 2 is declared as the safest place to live in Gurugram by the residents. The area is listed as the safest locality on different parameters.
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What makes us stand out is that our consultants follows Robust, Refine and Result (RRR) methodology. i.e. Robust for clear definitions, approaches and sanity checking, Refine for differentiating respondents facts and opinions and Result for presenting data with story
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While we don't replace traditional research, we flip the method upside down. Our dual approach of Top Bottom & Bottom Top ensures quality deliverable by not just verifying company fundamentals but also looking at the sector and macroeconomic factors.
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