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UNIVERSITY OF MUMBAI

A STUDY ON

“ A STUDY ON EFFECTIVE SALES PROMOTION IN REAL ESTATE

MARKETING”

SUBMITTED BYMr.ABUSUFIYAN CHAUDHARY

SUBMITTED TO,

THE UNIVERSITY OF MUMBAI

FOR THE PARTIAL FULFILLMENT OF BACHELOR OF

MANAGEMENT STUDIES

ACADEMIC YEAR 2014201!

TYBMS SEM !

SEAT NUMBER" 10#22$0

UNDER THE GUIDANCE OF

MRS. DAINA RAYEN

CLARA%S COLLEGE OF COMMERCE

YARI ROAD,

ANDHERI &'EST(

MUMBAI 4000!)

1



ACKNO'LEDGEMENT

I take this opportunity to express my sincere gratitude and deep regards

to my guide Mr*. DIANA RAYEN & also Mr. FAISAL TAN'AR &BMS

COORDINATOR( for their exemplary guidance, monitoring and constant

encouragement throughout the course of this thesis. The blessing, help and

guidance given by them from time to time shall carry me a long way in the

journey of life on which I am about to embark.

I would also like to thank !"I A+AY KAUL SIR and PRINCIPAL

DR.AHIDA SHAIKH for giving me this opportunity to showcase my hard

work.

I am also grateful to F-/ C-r-%* C35 36 C377r for

continuous and deliberate discussion on the topic and indeterminable burden

taken by her in helping me during the project.

I thank almighty #od, my $arents, siblings and my friends for their

constant support and encouragement without which this assignment would not

be possible.

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INDE8

TABLE OF CONTENT PAGE NO.

1.(INTRODUTION OF ORGANIATION 4

2.(ABSTRACT !

).(LITERATURE REVIE' $

4.(OB+ECT OF STUDY 29

!.(RESEARCH METHODOLOGY 2:1.( RESEARCH DESIGN

2.( SAMPLING DESING

).( SOURCES OF DATA

4.( DATA COLLECTION TOOLS

!.( METHOD OF DATA COLLECTION

9.( TOOLS AND TECHNI;YES OF ANALYSIS OF

DATA

:.(

9. (CONCLUSIONS !4

:.( IMPLICATION OF THE STUDY !!

$.(FINDINGS <RECOMMENDATION !$

#.(LIMITATIONS 90

10.(OVERALL E8PERINCE 91

11.(;UESTIONARIES 99

12( BIBLIOGRAPHY '

(



INTRODUCTIONS

INTRODUTION OF ORGANIATION

)mrapali #roup *eveloping India is the provide all type of land in *elhi, #reater +oida,

+", +oida. If you are seeking to )mrapali sapphire ale "eal -state, we offer all the

support and services to make it easy for you.

#reater +oida and +oida is involved in wide spectra of services in real estate dealing

related services and assure you to provide the best of all at competitive prices. e provide

services such as sale of residential and commercial properties .e are worked for last 1/

year in real estate & construction.

Today real estate market in is growing at an ama0ing pace. any people have started

relocating to the +" area to enjoy better 2uality of life. -very other day there is new

project announced and many options are available to buy your dream home, suiting your

budget. 3ou could buy a ready to move4in flat to meet your immediate needs or you could

invest in new projects launched or buy in resale of a project under construction.

5



ABSTRACT

The realty industry today has changed so much that each sector needs special skills to make

it work efficiently. )ll over the world, prices are fluctuating. #lobal agencies monitor

trends in the top influential cities. ith many foreign investments in India and +"Is

returning, the Indian property market watch is on the top most of every big agency.

umbai is the costliest city to live in )sia. To understand real estate marketing one

should at least have the minimum knowledge re2uired to step into the complex industry.

6ut there, plenty of smart operators are looking for suckers. They may not be dishonest

but will technically confuse you to pay higher price and outsmart you. Therefore, if you

know your onions and the deep layers beyond the skins it helps to get the best.

The purchasing power of the new generation of Indians has increased. They are investingin real estate in a big way4 in terms of investment and assets. $eople have ac2uired refined

tastes in housing needs and become professional in dealing with builders. 7inancial

companies and banks have given a boost to real estate marketing as well. To add to this the

government has allowed foreign investors also to test the market conditions here have

helped. -very area of real estate be it industrial, retail space, malls, office complexes,

residential colonies, hospitals, clinics and other healthcare units have a vast potential for

growth.

)s more opportunities grow for people to work they also wish to invest in places close by

to live in. 8uilders or developers in various regions are now separately marketing each

space. -ven home loan companies and banks are independently marketing the properties

they are giving loans. This helps them to guide their dedicated clientele and ensure the

marketing trends remain closely monitored for future development.

They generally have customer relationship executives who are assigned 9usually area wise:

to assist customers in making decisions. They do have good knowledge, are professionals

;



on the job and customers do benefit if they are not very familiar with various technicalities.

-ach company has its own marketing device and portfolio to attract

ustomers. <arious tie ups with groups in India and overseas have taken place this year

with increase in 7*I. #7 *evelopments based in +ew *elhi and -mmar $roperties

based in *ubai have joined hands in the first 2uarter of %// for investments within the

country. +owadays most of real estate focus is on shopping malls and residential

complexes. In some areas down south, the thrust is on IT parks, and corporate offices and

resorts.

!owever, on the other side everyone or every other executive does not feel the real estate

sector in India is being well marketed or managed. 3es, there are some gray areas, which

need to be covered up. 7or instance, foreigners who wish to invest or firms who are

looking at Indian partners are feeling the crunch of bureaucracy and familial ways of

working. This obviously makes it difficult for them to do business. The potential is there

but it needs to be tapped wisely. ) proper way is to have real estate marketing with the

right professionals. -veryone wants to cash on the business.

)fter one and a half years of gradual consolidation, real estate in India has fathomed its

own comfortable ground, and is poised at the right threshold to take a giant leap in years to

come. hile a differential pace of strengthening is evident across sectors, geographies and

segments, several property market indicators point to the fact that the industry has indeed

bottomed out in the current cycle. The fears of a possible double dip recovery have given

way to beliefs in the sustained healthy levels, if not a rapid growth.

The experience thus gained in this slowdown is invaluable and will serve real estate

strategists for years to come. The various stakeholders in the entire supply chain = the

material manufacturers, developers, property consultants, occupiers, investors and policy

makers, have all emerged stronger and primed than yesteryears. )nd, if we have taken our

lessons right, >caution? and >diligence? would be the keywords for the industry in the

medium term.



6n one hand, the stakeholders can?t afford to sway on the riding waves of healthy demand,

and lose the ground advantage that they have so painfully regained by adapting to the

rapidly changing business environment. )nd on the other, the emerging opportunities

should be targeted with an unmatched fervor of potential and pragmatism.

The year %/11 would usher a new decade of opportunities for Indian real estate, which will

be a test of sorts for its stakeholders between these two fringes of the fulcrum. )nd the

winners would be the ones who balance caution with diligence evaluating all the potential

opportunities with pragmatism.

C377r=- R- E*-o 6ffice rents to start appreciating after mid4%/11

o ore outright purchases by occupiers as well as private e2uity players

o IT@IT- and 87I would continue to account for /4A/B of office demand

R*=>?=- R- E*-

o Caunch of premium products to continue, albeit at a slower pace

o Caunch of Dltra Cow ost 9DC: !ousing by private developers = >!ousing for

)ll?

o Carge number of launches would continue to be in the range of I+" %,///4(,///

per s2 ft at the leapfrogged suburban locations

o Impact on affordability will influence the price and absorption dynamics

o ustainability to gain focus as the industry looks forward towards I#8 #reen

!omes standards

R-= R- E*-

o ore collaborative models such as revenue sharing to emerge in the sector

o "ents to remain stable except select prime locations

o Carge number of malls slated to become operational

o "etailers would continue to expand beyond Tier I into Tier II and III cities

o ore international retailers to venture into India

A



LITRATURE REVIE'

The real estate market in India has become so huge that to get every thing or anythingspecific within one roof is easy and difficult at the same time. ith the kind of commercial

and residential property available =on rent@lease@ ownership one has to refer to portals or

good companies dealing in various listings. #enerally typical real estate listing would

necessarily include the following headsE

Pr3@r=* Ar- =* S@-r- *=3?* 36 r*=>?=- -?> 377r=- ?-/r.

ithin this are included partnership, brokerage, re2uiring agents, and direct deals with

builders. The property rates of each area are usually determined every two three years

unless in a particular area shoots up due to construction or upcoming prestigious piece of

property 9i.e. a five star hotel, IT corporate park, shopping mall or multiplex:. In such areas

the rents and buying properties do increase because of job opportunities and close

residential facilities.

Pr3@r V-/-=3?

any old properties may not be in very good condition. 8ut they still are valuable. hyF

ostly because they can be refurbished or rebuilt entirely. This is why they usually fetch a

good price. 8ut one cannot depend only on brokers or agents or property owners to

evaluate the land. ometimes the owner is greedy and expects a bigger price, sometimes an

agent in between 2uotes a higher price so that it benefits him, sometimes the buyer may be

just rich and may not have rival bidders or competitors so 2uotes a fancy pricey according

to his choice.

'



8ut now the industry has attained a level of professionalism and valuers who have correct

knowledge and are impartial are used to assess the property. -ven if it has to be handed

over from one brother to another the valuer needs to correctly assess the worth of the

property. Dsually a lawyer does the valuation so that a stamp of legality can be given to the

property and no disputes rise thereafter. ) known property valuer will charge a good

amount to the job.

Pr3@r M-?-5r*< Pr3@r Br3r*< Pr3@r A5?*

*ealing with one person who knows the entire property inside out is important. Dsually

when an agent shows the property to a prospective client he knows the property manager

dealing with it. !e normally deals on behalf of the owner.

!e looks after the property and keeps in good shape till it is sold to the next owner.

8rokers and agents now all over India have associations. o certified ones and those

registered with the respective associations will definitely not cheat you when you are

buying property.

-ven if there are disputes it can be challenged or sorted out through the right channels.

"eal estate listings usually give area wise contacts of brokers and agents listed with them.

o even if one does not know one a portal provides the details.

Pr3@r C3?*/-?* -?> D*=5?r*

+ow consultants are available for giving a better view of the industry in general. They are

aware of the rules, laws and regulations, which affect builders and buyers both. -ach

consultant speciali0es in various kinds of property.

7or example proerty consultant dealing with industrial properties knows what

environmental laws and rules about violating them. !e can help the owners to be on the

right side of the law. ome consultants deal exclusively in townships, residential areas and

are aware of the rules that govern them. ) good consultant will always be an asset for the

builder he works for.

G



*esigners are usually re2uired by architects or by individuals who need homes to be

designed. ome firms employ designers, some of them free lance or some do just

renovation work. *epending on the need they are listed too. They also deal with people

with knowledge of <astu and 7eng hui4both applications are in vogue with clients.

H@ =? /=?5 3r *=?5 @r3@r

ometimes an individual may want to sell his business and home and relocate to another

place. "eal estate listings allow the person to choose various methods of disposal for the

same.

H37 L3-?*

ometimes one falls short of a re2uired amount or needs nearly A;B of the loan to buy a

house or an office premise. #enerally people apply for home loans. There are many

financial institutions, banks, private persons, and organi0ations, which lend money to fulfill

dreams. It is easy to obtain a loan if all paperwork is complete.

Today in India private bank !*7 and III 8ank and tate 8ank of India are the largest

lenders to their customers all over the country. They are also giving loans to +"Is to invest

in property in India.

NRI R- *- Sr=*

"ight from choosing the property, availing loans, evaluating, filling forms online, property

management etc all services can be used. "eal estate listings have the entire database for

the same.

ome real estate listings are also likely to include details and contacts of leading architects,

builders, news on upcoming projects, engineers, building materials and news and articles

which are likely to affect buying and selling decisions.

1/



) regular monitor or a property watch is kept for any changes of rates in any 0ones. ome

also feature overseas properties and help in getting information to get there. ) real estate

listing becomes popular with every new additional thing that will eventually help the client.

The real estate market in India has become so huge that to get every thing or anything

specific within one roof is easy and difficult at the same time. ith the kind of commercial

and residential property available =on rent@lease@ ownership one has to refer to portals or

good companies dealing in various listings. #enerally typical real estate listing would

necessarily include the following headsE

*esigners are usually re2uired by architects or by individuals who need homes to be

designed. ome firms employ designers, some of them free lance or some do just

renovation work. *epending on the need they are listed too. They also deal with people

with knowledge of <astu and 7eng hui4both applications are in vogue with clients.

ales $romotion at different Cevel and different programme

6ne of the most difficult marketing decisions facing companies is how much to spend on

promotional Hohn anamaker, the departmental 4 store maga0ine, said, I know that half of

my advertising is wasted but I donJt know which half.

Thus it is not surprising that industries and companies vary considerably in how much they

spend on promotion. $romotional expenditures might amount to (/4;/B of sales in case in

cosmetics industry and only 1/4%/B in the industrial e2uipment industry. ithin a industry,

a low and high spending companies can be found.!ow do companies decide on their

promotion budgetF There are mainly four methods of this

A663r>- M3> "

any companies set the promotion budget at what they think the company can afford. 6ne

executive explained this method as follows E hy, it?s simple. 7irst I go upstairs to the

controller and how much they can afford to give us this year. !e says a million and half.

11



Cater, the boss comes to me and asks how much we should spend and I say >6h about a

million and half.

It is a method which is uncertain one and makes long term planning difficult.

Pr?-5 36 S-* M3>"

any companies set their promotion expenditures at a specified percentage of sales.

)ccordingly the sales is set on the basis of sales.

In this a specified sales percentage is decided for the promotional budget )dvantages of

this method E

7irst, its use means that promotional budget vary with what a company can afford.

econd, it encourages the management to think in terms of the relationship among

promotion costs, selling price, and profit per unit,

Third, it encourages the competitive stability to the extent that competing firms spend

approximately the same B of their sales on promotion.

Inspite of the advantages, the B sales method has little to justify it. Its reasoning is circularE

It views sales as the determiner of the promotion rather than as a result. It leads to budget

setting by availability of funds rather than by marketing opportunities.

C37@== P-r= M3>"

ome companies set their promotional budget to achieve share4of4voice parity with other

competitors. Two arguments are made in support of competitive parity method. 6ne is that

the competitors expenditure represents the collective wisdom of the industry. The other is

that maintaining a competitive parity helps prevent promotional wars.

1%



+either argument is valid. There are no grounds for believing that competition knows

better what should be spent on promotion.

O= -?> T-* M3>

The objective & task method calls upon marketers to develop their promotion budgets by

defining their specific objectives, determining the task that must be performed to achieve

these objectives, and estimating the cost of performing these tasks.

D=>=?5 3? @r373=3? 7="

ompanies face the task of distributing the total promotion budget over the five

promotional toolsE

K )dvertising

K ales $romotion

K $ublic "elations and $ublicity

K ales 7orce

K *irect arketing.

hatever method a company adopts for promoting its product it must be from above

mentioned method.

1(



S-* Pr373=3?

$romotion is the final element in the marketing mix. )fter the nature of product is decided,

its price fixed and the methods of distribution decided, the manufactures has to take

effective steps in meeting the consumers in the markets. In the present consumer oriented

markets it is the duty of manufacturers to know what is re2uired by the consumer. It is also

their duty to make the customers know where, when how and at what prices. The products

would be available.

M-?=?5 36 Pr373=3?

T r7 @r373=3? =* r7 -?> =?/>* 7-=? r @ 36 *-* -== "

1. ass impersonal selling methods 9)dvertising:.

%. 7ace to face personal selling 9alesman ship:.

(. )ctivities other than personal selling and advertising such as point of purchase display

9$.6.$.: show and exhibitions, demonstrations and other non securing selling efforts. This

form of activity is called >ales $romotion?.

Tr -r 3 @* 36 @r373=3? ?>*"

1. $ull 8lend.

%. $ush 8lend.

8oth of these are closely related to the channel of *istribution.

15



1. ) pull blend is one in which mass impersonal, sales efforts are given the greatest

emphasis. The purposes of pull blend to pre4sell to the final consumers. o that they

demand the product at the retail level of distribution. The firm adopting this strategy would

spend more on advertising and sales promotion rather than in personal selling. These

efforts pull down the product from the manufacturer.

%. ) push blend emphasi0es personal selling. +aturally firms adopting this method develop

a strong sales force at both the distributor and the dealer level. This method would tends to

push the product through the channel of distribution.

Pr373=3? -?> S=?5

The term promotion is very often used as a synonym for selling. 8ut selling is a narrow

term which includes only transfer of title or personal selling. $romotion on the other hand

is broader in its outlook and includes a variety of activities used ultimately for increasing

sales volume.

Pr373=3? -?> S-* Pr373=3?

imilarly the terms sales promotion can not be taken to mean what is commonly does.

ales promotion, is only a part of the promotion. 8asically promotion is an exercise in

information persecution and influence. $romotion has come to mean the over all co4ordination of advertising selling, publicity and public relations. $romotion is a helping

function designed to make all other marketing activities more effective and efficient. 8ut

sales promotion as such helps only the selling activity still, there exit same difference of

opinion on the real connection of the term sales promotion.

A. 3 A.H.R. D3?* "

ales promotion means any step that are taken for the purpose of obtaining or increasingsales.

1;



A. 3 '.;. K O@=?* "

uddled misused misunderstood that is sales promotion )cc. to him the field of sales

promotion as a marketing activity is still vaguely defined and organi0ed.

S-* Pr373=3? -?> A>r=*=?5

There is no universally accepted distribution between these two terms. To same advertising

includes all forms of mass media communication directed towards influencing the end

consumer. ales promotion on the other hand, includes the form of mass communication

directed towards information and influencing the channel of distribution 9e.g. distributors,

retailers etc.:. !ence a price of product literature distributed by retailers in sales promotion.

These sales promotion merges on one side in to advertising and on the other in to personal

salesman ship. It is concerned with the dissemination of information to whole salers,

retailers, customers 9both actual and potential, and to the salesman:.

ales promotion is concerned with the creation. )pplication and dissemination of material

and techni2ues that supplement advertising and personal selling. ales promotion makes

use of direct mail, catalogues, trade shows, sales contests, premiums, samples, windows

displays and other aids. Its purpose is to increase the desire of salesman, distributors and

dealers to sell a certain brand to make consumers more eager to buy that brand. $ersonal

selling and advertising do include prospects to make these decisions. ale promotion

provides an extra stimulus.

O= 36 S-* Pr373=3?

1. To increase sales directly by publicity through media which are complementary to press

and poster advertising.

1



%. To disseminate information through sales man dealers etc. o as to insure the product

getting in to satisfactory use by the ultimate consumer.

(. To attract new consumer.

5. To face the competition effectively.

;. To help salesman in selling more to the retailers and consumers.

. To check seasonal decline in sales. #enerally speaking sales promotion involves

rendering the following servicesE4

9a: ervices to dealers.

9b: ervices to own salesman.

9c: pecial publicity.

S-* Pr373=3?- - >=66r? *

1. S-* @r373=3? - D-r* L "

It may include various schemes some of which are discussed here.

&=( A>r=*=?5 M-r=-*"

The advertising material prepared by the company such as store signs, banners, shelf signs,

board etc. are distributed to sub dealer for display purposes this is in fact a method of

advertising.

&==( S3r D73?*r-=3?"

In the promises of the whole saler or the retailer the products sales personnel will conduct

special demonstration for the companies product. ) personal demonstration is good to

introduce a new product at its peculiar advantage can be high lightened and the consumer?s

1A



any experts on sales promotion fed that >6ff chemes? are among the weaker and less

desirable methods of promotion. These can be trade resentment particularly when the

retailer raises the price to retain his margin. econdly that is not conductive to building up

brand loyalty. onsumers may simply shift to the products that offer this scheme.

). S-7@*"

In the hope of converting a prospect into a customer a sample 9ome 2uantity of the

product: may be given. This helps the consumer to verify the real 2uality of the product.

<arious pair manufacturing companies offer this method. 7or developing brand loyalty thismethod is 2uite useful. ampling is a fast method of demand creation because one knows

the result as soon as the consumer has had time to use the sample and buy the brand.

D=*->-?-5 36 S-7@r"

6ffering sample in 2uit expensive. There is the cost of producing samples. The distribution

costs are also high. ample have to be mailed to potential customers or to be distributed

through retail shops. There are also problems when the real product does not resemble the

sample supplied.

4. M3? R6/?> O66r"

)n offer usually stated on the package is that manufacturers will return with in a stated

period part or all of the purchaser?s money if he is not completely satisfied with the

product.

!. Tr->=?5 S-7@*"

) premium in the form of stamps is given by the sellers to consumers while selling goods.

The number and value of stamp that the buyer receives depends on the values of the

purchase. These stamps are redeemable through premium catalogues at the stamp

redemption centres.

1G



1. C377/?=-=?5 M-r N* "

6ften this service is reciprocal the manufacturer may ac2uaint his dealer with the fact

relating to his production and prices while the dealer may familiari0e him in return with the

information bearing on charges in the consumerJs demand, their like and dislike complaints

and criticism, substitutes etc.

2. I?==?5 3 S-* C3?6r? -?> C3??=3?"

The gestures of regard and respect pave the way for better relation and co4operation.

). O66r=?5 R-*3?- Tr7* 36 S-"

6f all the forms of encouragement, the monetary incentive evokes immediate response.

!ence every producer must offer the most responsible terms of sale such as longer periods

of credit and higher rates of descants.

5. upplying suitable packages and useful things.

;. 8y taking the return back.

. 8y furnishing them with sales literature and display materials.

A55r**= S=?5

M-?=?5"

#oods are produced for market. anufacturers have to make efforts to sell all they

produce. hen the manufacturers uses various sales efforts to obtain increased sales

volume for his product it is called aggressive selling or offensive selling. The sales efforts

which a manufacturer makes to retain his customers i.e. to protect his already established

market against against his competitors is termed as defensive selling. In contrast to this

%1



aggressive selling is concerned with the sales efforts made with the express objective of

selling more by expanding the market for the product of the selling firm.

A55r**= S=?5 -?> D6?*= S=?5 "

)ggressive selling is based on the answer to the 2uestion how much does the firm gain 9in

term of sales with profit: by using this method defensive selling is based on consideration

as to how much the firm will lose if it does not use this method increase of sales can be

obtained from two sourcesE4

1. +ew customers if the market is expending.

%. 7rom the competitors i.e. those consumers who were purchasing similar product of

competition firms, if the market for the product is static.

A. 3 H. '=-> "

In case of an expanding market all the firm may stand to gain by following the methods of

aggressive selling but if the market is static manufacturer of a new market will have to be

much more aggressive to capture the established market of competitors.

'? A55r**= *=?5 =* r*3r>

U*/- 7-?/6-/rr 36 - ? @r3>/ -* 3 >3 -55r**= *=?5 "

1. hen the product has been improved.

%. hen the manufacturer?s product is supervisor in 2uality to the product of the

established competitor.

(. hen the total market for the product or line of product to expanding.

5. If the manufacturer?s share of the market is comparatively small.

%%



;. If the manufacturer has unused production capacity with heavy investment in plant and

e2uipment he will like to develop the demand for his product rapidly so that demand for his

product is e2ual to the optimum production capacity of his plant L and

. hen primary demand for a product must be created and provision must be made in the

channel of distribution to educate consumers regarding the new product and to instruct

them in its use.

M3> 36 A55r**= S=?5"

ales promotion efforts use for aggressive selling may be divided in two classes.

1. Trade $romotion.

%. onsumer $romotion.

1. Tr-> Pr373=3?"

Dnder trade promotion methods special incentives are offered to the trader to buy products

of the firm. uch incentive may take one or more of the following firm E4

&-( C-* A3-?"

) definite percentage of discounts is allowed on the purchase of given unit of a product.

&( Er- Pr3>/"

Instead of giving any cash allowance extra product is given with each unit of product

ordered. 7or instance if a box normally contains %/ akes of oap, special box contains %;

cakes may be made and sold at the same price as that of the box of %/ cakes.

&( G=6* "

%(



<arious gifts are awarded in return for an order of a particular magnitude.

2. C3?*/7r Pr373=3?"

Dnder consumer promotion method special incentives are offered to the consumers to buy

the firms product. The more prominent amongst such incentives are as following.

&-( C3/@3?*"

) coupon of a giving value is sent to the consumer. 8y presenting this coupon to the

retailer consumers can purchase a particular product mentioned on the coupon at a reduced

price. The retailer sells the products mentioned. In the coupon to such consumer

9consumers presenting the coupons: under and agreement with the manufacturer at a price

lower than the user retail price. Thus the consumer get the benefit of reduced price to the

extent of the value of the coupons.

&( S6 L=/=>-=?5 O66r*"

Dnder this system, the firm offers an article at an attracting price if the consumer send a

given sum of money accompanied by a given number of box tops from the packages of a

particular product the benefit to the consumer is that he receives the articles at a bargain

price.

&( B-r5-=? P-*"

Dnder this system a product is sold at a reduced price for a short period 8argain pack

method encourages new consumers to try the product. It is also helpful in obtaining large

displays in the shops.

&>( S-7@=?5 "

%5



The method involves giving the product or a small 2uantity of the product to a consumer

free with the hope that the customer will be favourable impressed with its actual use and

will eventually become a regular purchaser of the product.

) firm selling new product or an extensively improved product finds this methods useful.

)lso a firm whose market is hold by competitors whose free sampling almost expensive.

The above mentioned methods may be reinforced by adopting.

9i: *irect method of selling through.

9ii: 6ffer of door to door selling.

9iii: !ire purchase and installment payment methods of selling and by forming

combination.

Or M3>* 36 A55r**= S=?5"

9i: -mployment of >issionary alesman also known as $romotional alesman?.

These salesmen call upon retailers and aggressively promote a product.

9ii: Instead of using wholesalers, the firm may develop its own sales force to call

directly on retailers.

9iii: The firm may follow a compromise method by employing a manufacturer?s agent

and giving him a large enough commission to encourage him to sell product

intensively and aggressively.

9iv: +ew territory exploitation sales promotion has a particularly important role in

developing the company?s product in new territories.

9v: Increment and promotions.

9vi: Cetters to dealer and ustomer.

%;



In fact, an ingenious sales manager can devise any number of incentives schemes for

promoting the sales volume.

OB+ECT OF STUDY

1 Pr3@r=* Ar- =* J S@-r- *=3?* 36 r*=>?=- -?>

377r=- ?-/r.

2. Pr3@r V-/-=3?

). H@ =? /=?5 3r *=?5 @r3@r

4. H37 L3-?*

!. NRI R- *- Sr=*

9. Pr3@r M-?-5r*< Pr3@r Br3r*< Pr3@r A5?*

:. Pr3@r C3?*/-?* -?> D*=5?r*

$. S-* Pr373=3?

#. S-* Pr373=3? -?> A>r=*=?5

%



RESEARCH METHODOLOGY

)ny activity done without an objective in a mind cannot turn faithful. )n objective

provides a specific direction to an activity. 6bjectives may range from very general to very

specify , but the should be clear enough to point out with responsible accuracy what

researcher wants to achieve through the study and how it will be helpful to the decision

maker in solving the problem.

-ach research study has its own specific purpose. It is like to discover to 2uestion through

the application of scientific procedure. 8ut the main aim of our research to find out the

truth that is hidden and which has not been discovered as yet.

1(. RESEARCH DESIGN

6n the basis of theoretical study a research has many types. )ll of these are distributed on

the nature of research. ome of there are like

1. *escriptive and analytical

%. Mualitative and Muantitative

(. onceptual and -mpirical

5. )pplied and 7undamental

%A



;. 6ne Time "esearch

O/r r*-r =* -*> 3? >*r=@=, /-=-= -?> ;/-?=-= r*-r.

D*r=@= R*-r " *escriptive research includes surveys and facts finding en2uires

of different kinds. The major purpose of *escriptive research is description of the state of

affairs as it exists at present. "esearcher has no control over the variables of this type of

research.

;/-=-= R*-r" In our research we need comparison between different stage and

different condition. o this based on all 2ualitative data in short, Mualitative research

is especially important in the behavioral science where the aim is to discover the underline

motives of human behavior. Though suc research we can analyses various factors which

motivate to people to behave in particular manner or which make people like or dislike a

particular thing.

;/-?=-= R*-r" 4 Muantitative research is based on the measurement of 2uantity or

amount. It is applicable to phenomena that cab be expressed in terms of Muantity. o we

can use it in our research for collection of all the numerical data.

2(.SAMPLING DESIGN"

Nample *esign is a definite plan for obtaining a sample from a given population. It refers

to the techni2ue or the procedure the researcher would adopt in selecting items for the

sampleO

)(. SOURCES OF DATA

TYPE OF DATA

A( PRIMARY DATA

B( SECONDRY DATA

%'



A( PRIMARY DATA"

-( /*=3??-=r

( I?r= *>/

B( SECONDRY DATA"

-( H=*3r=- >-- 36 R- E*- M-r=?5

( O?=? D---*

( +3/r?-

>( I?r?

4( DATA COLLECTION TOOLS

6ur research is based on 2ualitative & Muantitativeresearch.

!( METHOD OF DATA COLLECTION

ith the help of the 2uestionnaire, interviewschedule and study of data from research carried out on "eal -state marketing ector.

S-=*=- T33* " it is sample percentage method.

9( TOOLS AND TECHNI;UES OF ANALYSIS OF DATA "

M-r33?37= Or=

The Indian economy currently stands among the worldJs fourth largest growing

economy in terms of purchasing power parity and holds the distinction of being a key

contributor to )siaJs balance of payment surplus. IndiaJs #*$ is estimated to be the third

largest in the world by%/%/. India is also considered the second most attractive country in

%G



theworld for 7oreign *irect Investment 97*I:. 7orex "eserves 9excluding gold and *"s:

stood at DP1;A.%; billion at the end of Huly %//. India now holds the fifth largest stock

of reserves among the emerging market economies and the sixth largest in the world.

The performance of the country has been consistent and steady over the past three years

with an average annual growth rate of 'B. The growth trend is being led by positive

movements across sectors in agriculture, manufacturing and services.

(/



In recent years, the broad based growth in services sector has been a principle driver of the

#*$ growth. 8usiness services 9including Information Technology 9IT: and IT -nabled

ervices:, communication services , financial services, hotels and restaurants and

trade9distribution: services are among the fastest growing service sectors. India?s share in

the world market for IT software and services 9including 8$6: increased from around

1.AB in %//(4/5 to %.(B in %//54/; and an estimated %.'B in %//;4/.

The proportion of manufacturing in the #*$ has remained stable at around %;B,

however, the growth rate of manufacturing has increased over years, from %.AB in %//1 to

G./B in %// against the growth rate of %.( B and G.'B in agriculture and services

respectively. anufacturing Industries like textiles, automobiles, cement, steel, petro

chemicals,

Infrastructure 9civil aviation, roads, and ports:, electronics ,beverages and tobacco

products have been the prime drivers in India?s Industrial growth.

REAL ESTATE SCENARIO IN INDIA

(1



The si0e of the Indian real estate market is estimated at D* 1%billion and it is currently

growing at rate of about (/B annually. "eal estate lending by banks has increased by (.A'

times in the last two years, forming 1'B of the total bank credit. trong and improved

economic growth, proactive policy initiatives like relaxation of 7*I in construction and

availability of finance 9institutional and retail: has driven the demand for real estate across

all sectors 4 ommercial, "esidential, "etail and !ospitality. )lso, there is an increased

focus towards development of pecial -conomic Qones 9-Q: in India.

The last few years have seen Indian market mature through regulatory reforms

9rationali0ation of stamp duties, reform of urban land ceilings :, improving products in

terms of 2uality and technology, changing tenant profile 9+s, and respect for tenancy

laws:, and improving management and maintenance models 9enhanced product life4cycles

and sustained project @ real estate yields:. )lthough the initial real estate boom was

(%



concentrated in places like 8angalore and the +ational apital "egion of *elhi 9including

#urgaon :, more recently the geographical spread has widened. There has been a

significant shift in real estate market from metros to its suburbs and to tier II and tier III

cities. Cease rentals and occupancies have been picking up steadily and there is an

increasing demand for 2uality infrastructure across various segments of the real estate

sector.

C377r=- R- E*-

The demand for new office space in India has grown from an estimated (.G millions2. ft in 1GG' to over 1 million s2. ft in %//54/;.A/B of the demand for office space in

India is driven by over A,///Indian IT and IT- firms and 1;B by financial service

providers and the pharmaceutical sector. umulative demand for office space in India

overthe next two years 9%//4/': is estimated to be in excess of 5; million s2. ft. The

Indian IT4IT- Industry, estimated at D* (.( billion in %//has grown at a )#" of

(B over the last decade and by %//', is expected to account for over AB of India?s #*$

and (/B of foreign exchange inflows. In %//; alone, IT@IT- sector absorbed a total of approx (/ million s2. ft and is estimated to generate a demand of 1;/million s2. ft. of space

across major cities by %/1/. outh Indian cities like 8angalore, hennai and !yderabad

along with +" 9+ational apital "egion: continue to attract the major share of IT@IT-

and business investment. !owever, secondary cities, like $une , handigarh, Indore, Rochi

and Rolkata are now emerging as the new preferred destinations for these companies due to

their cost and infrastructure advantage

((



R*=>?=- R- E*-

The residential property market in India constitutes almost A;B of the real estate

market in terms of value. Cow per capita housing stock, rising disposable income coupled

with easy availability of finance from the housing finance companies and banks are driving

demand in this sector. )lso, )verage age of housing loan borrowers has decreased to(/4 (;

years from 5/4 5; years a few years ago, indicating a young erbuying threshold. The

housing sector is currently growing at (/4(;B per annum. ) proportion of demand is also

being driven from investors who view housing as an attractive investment option as

compared to mutual funds and stocks. The demand for housing is geographically wide

spread with townships being built in both the metros and the tier II and III cities. In India,

there is a housing shortage of 1G.5 million units out of which .Amillion are in urban areas

alone. This translates into very high opportunities for investors in the residential sector

(5



R-= R- E*-

The "etail industry in India continues to be dominated by individuals mall format

stores with floor space of less than ;// s2. ft. Total number of retail outlets is estimated to

be around 1% 41; million, indicating are tail density of 1%415 outlets per 1,/// people,

which is one of the highest in the world. The retail sector in India is currently estimated atD* %(/ billion. The current si0e of the organi0ed retail activity is D* Abillion, which is

a mere (B of the total retail market. The retail sector is witnessing a growth of ;4AB per

annumL however the organi0ed retail Is poised to grow at a rate of %;B 4 (/B per annum

and is expected to be worth over D* (/ billion by the year %/1/, thereby increasing the

share of organi0ed retail activity from the current level of (B to 1;B in the coming decade

(;



H3*@=-= R- E*-

!ospitality industry in India is growing at an annual rate of over'B. The number of

foreign tourists? arrivals 9a major driver of hospitality industry: in the country increased to

approx. 5 million in %//;. 6ver ;;Bof the total demand for hotels in the country is

generated by for eignlei sure tourists and business travelers 9domestic and foreign:. ) large proportion of lodging demand in commercial cities such as 8angalore, umbai, *elhi etc.

comes from business travelers.

This category also accounts for the major proportion of demand for five star or five

star deluxe hotels. !owever, against the total current supply of G,/// rooms, five star

category accounts for just a 2uarter of the supply. ith the expected growth in demand for

rooms at 1'B, another ;,/// = '/,/// hotel rooms will be needed till %/1/. This demand

= supply gap is expected to result in high level of activity in construction of hotels. The

established brands in this sector such as )sian !otels, Indian !otels, IT, Ce eridian etc

are in expansion mode with many new players such as )ccor #roup, arriot, hoice, I !

# #roup keen to establish their footprint

S@=- E3?37= 3?*

The upcoming realty trend in India after multiplexes and mega housing projects arethe pecial -conomic Qones 9-Q:. urrently, %'-Qs are operational in the country,

including those converted from -xport $rocessing Qones 9-$Q: to -Q. )pprox. 1'G

proposals have already been granted approval since the -Q )ct, %//; came into force

.These include -Qs in various segments such as multi4product, Information Technology,

8io4technology, #ems and Hewellery , Textiles and technology intensive industries. 8oth

developers and corporate have shown tremendous interest in developing -Qs in the

country. "eliance Industries, for instance, is planning a %;,/// acre -Q in #urgaon and is

also the main partner in twin -Qs coming up at +avi umbai and aha umbai, with a

combined si0e of (;,/// acres.

The )dani group is also setting up an -Q at undra, covering(/,///4(;,///

acres, and it proposes to invest "s A,(// crore on infrastructure. 6ther corporate who are in

process of setting up -Qs include T# "efineries of the hatterjee #roup 9-Q refinery

at !aldiain est 8engal:, u0lon Infrastructure 9hi4tech engineering products

(



and services near oimbatore in Tamil +adu, Ddupi in Rarnataka and <adodara in

#ujarat:, !indalco 9 aluminum -Q at ambalpur in 6rissa:, #enpact 9IT -Q at

8hubaneshwar in 6rissa, Haipur in "ajasthan and 8hopal in adhya $radesh:, <edanta

)lumina 9 aluminum -Q at 6rissa:. eeking the permission for -Qs are also a number of

real estate developers, including *C7, )nsals, 6maxe, $arsvnath, hipra -state and unny

<ista "ealtors

FDI =? R- E*-

ith the opening of the sector for 1//B 7*I under automatic route, the real estate sector

is estimated to capture about 1'4%/B of the total 7*I coming to India in %//;4/. The 7*I

in "eal

-state is expected to have a favorable multiplier effect on the economy. )s an indicator, for

every rupee spent on construction, an estimated A;4'/B gets added to the #*$. The spill4

over effect of

this initiative can also be witnessed in important sectors like the cement and construction

industries, where the key players are expanding capacity to meet the soaring demand.

ith the relaxation of the 7*I limit, the country saw an influx of global real estate

developers like *ubai4based -maar $roperties 9the largest listed real estate developer in the

world: = which enetered India in a joint venture with *elhi based #7 *evelopments.

Gr3 -?> r-5 3 =5r I?>=- 5r3

The real estate sector is developing rapidly in India. The demand side has robust and

sustainable macro drivers across all segments

R*=>?=- "

)ccounting for more than A/B of the sector in terms of space, residential segment growth

is driven by urbani0ation and the migration of households up the income curve. )ccording

to the +ational ouncil of )pplied -conomic "esearch estimates, the number

of urban house holds earning more than I+" ;//,/// 9about DP1%,///: should more than

double to A.m in %//41/.

(A



C377r=- "

"apid growth in IT@IT- services 9manpower in the sector has doubled in the past three

years To 1.m: is the main driver of #rade ) commercial office space demand .Hones Cang

Caalle, a property consultancy, estimates that the absorption of office space in the top

seven cities in India was (1.1m s2uare feet in %//.

R-= "

)ccording to "I I+7), the penetration of organi0ed retail into the overall market will

increase from (.;B in %//; to 'B in %/1/, the reby driving the demand for mall space.

H3*@=-= "

)ccording to "IIC, the number of ;4star rooms is expected to grow by/B in the next

four years with foreign tourist arrivals growing at 1/B)#"

Sr//r O6 R- E*-

The real estate industry has historically been fragmented and

6pa2ue, but this is changingE

P?r-=3? 36 73r5-5 6=?-? "

ortgage disbursals grew by ('B in 73%//14/ and have be comean integral part

of the buying process. This has helped reduce the unaccounted Ncash componentO of

transactions.

E?r 36 63r=5? -@=- "

"egulations governing foreign capital in the sector have been relaxed, motivating

developers to become transparent and improve corporate governance.

C-?5 =? 5=*-=3? "

('



In many states, strict laws like the Drban Cand eiling )ct 9which defines ceiling of

land holdings in urban areas: have been repealed or modified.

C3?*/7r @r6r?* "

onsumers are now willing to pay premium prices for better amenities and a good

brand. In response, most of the bigger developer sare scaling up geographically, which

necessitates rigorous systems and processes

MUMBAI REAL ESTATE

umbai is no way behind when it comes to a talk on property. The umbai real

estate is in its growth orbit and attracts investors from major multinationals in the recent

times. uch is the potential of the cityJs infrastructure that it is known to be spearheadingmost cities as far as property market is concerned. ith umbai serving as the

entertainment city, even the organi0ed retail sector here is fast flourishing.

$urchasing real estate in umbai re2uires a significant investment, and each piece

of land in the city has uni2ue features, so the property market in umbai has evolved into

several different fields.

!aving the potential to leverage high returns, a large number of real estate projects

are financed everyday in umbai. +"Is can shop for property in the city with the

expectation of attaining an investment good, or with the purpose of utili0ing it as a

consumption good, or both.

umbai is also the fashion capital of India, so it is one of the foremost cities to be

hit by the retail bu00. ith the opening up of the retail market, there has been a growing

demand for retail properties in umbai. This has created a viable market for mall space

(G



and other retail stores and showrooms. These retail stores and malls are either owned

by a business group or leased for hefty prices as the demand is high.

The property prices as well as the increase in rental values in umbai owe much of its

credit to the large scale investments in the commercial sector. umbai has always been

the hot favorite for most of the corporate sector to have their head2uarters in the city.)nd with increasing investments by +s in the IT, IT- and the 8$6 sector, there

has been a growing demand for office spaceL which have conse2uently created an

imbalance in demand and supply for residential properties. The rental values in umbai

have also in high corresponding to that in other metros.

-ven India?s leading conglomerates have taken up commercial space here. The state

administration has already shifted wholesale commodity markets to +avi umbai. o, you

have endorsements from different segments that +avi umbai?s commercial real estate is

much sought after,O he says. uresh !aware, *, !aware 8uilders concurs.

N-ven at the >nano? end of the commercial real estate spectrum, demand is high,O he

says. It is the small offices and shops? segment that have witnessed the highest demand at

!aware 8uilders? commercial projects in +avi umbai, he reveals.

Today, industrial units in +avi umbai are relocating to locations in "aigadh district

and commercial is the latest bu00word in +avi umbai?s real estate scenario, says <ijay

#ajra of the #ajra #roup. Nommercial options in +avi umbai span a huge price band.

#rowth of the residential segment in +avi umbai, prior to that of the commercial

segment, actually works out in favour of the end4user today, as manpower resources are

easily available,O he points out. Nommercial real estate in +avi umbai comes at

competitive prices vis4S4vis other options in the umbai metropolitan region 9":, with

the added advantage of being located in a well4planned city,O adds #ajra.

IT@ ITe -Qs and businesses that have anything to do with rail@road transport and

logistics or shipping, are proving to be the next big segment in +avi umbai?s commercial

spectrum, shares ayur hah, honorary secretary, !I. "amneek 8akshi, principal of

global property consultants, CH !ooker, points out that +s view India within the

parameters of the >8ra0il, "ussia, India, hina? 98"I: e2uation.

5/



Nhen they look at India as a business entity, umbai takes prime position. hen they

start looking out for space, +avi umbai, which forms the third level of real estate pricing,

is attractive for +s looking to set up shop in the umbai region,O he explains. )t the

+orwegian consulate in umbai, #eorge athew, honorary consul general, concurs, NIf

you look at real estate pricing trends in the ", +avi umbai fits the bill on many

counts. !owever, the clincher is the price efficiency and developed infrastructure that +avi

umbai provides,O he concludes.

A@@r=-=3?*

The hike in demand as well as supply and appreciation in capital values are

attracting good attention from overseas investors. The umbai real estate has become a

reflective of the high growth in Indian property market. There has been an increase in real

estate value across micro markets in umbai as well.

umbai is looked upon as one of the most organi0ed and transparent property

market in India. ith cash components and transactions shooting up in the last two years,

the city has gained much popularity among the investors, both domestic and international.

The investment market has been thriving with excellent returns going high over the past

few years. The real estate boom and an upsurge in development activities in major parts of

umbai have led to a rise in investment prospects in commercial and residential sector.

Rnown locations like 8andra4Rurla omplex 98R: and Cower $arle have seen

appreciations in commercial spaces falling under the category of #rade ). The occupancy

levels in other preferable locations like )ndheri est and +irman $oint also increased in

the current year and are believed to have marked the rise by G/4G;B.)nother mark

appreciation is in regard to commercial properties in umbai, and is prevailing in the cityJs

micro markets barring a few exceptions.

NRI R- E*- r?>*

ajor property developers in umbai, underpinned by the vastness, scope, success

and scale of progress in the city are now transforming developing properties into strong

51



retail bases. Then of course, the government permitting foreign direct investment

97*I: up to;1B in retail trade has also brought about major moves in retail industry.

The demand for property whether commercial or residential, is very high in umbai.

There has been steady demand for consecutive years and has resulted in an increase in the

yield rate. +ew real estate projects in umbai are always in 2ueue to be launched by private as well as by government. This encouraged overseas investors especially +on

"esident Indians 9+"Is: to make significant investments in umbai properties.

ith an excellent accessibility across the globe, the city of dreams, umbai has

emerged as an ultimate destination for most people. )s per property surveys, one can sell

any property and get a price which is fairly good. ithin the real estate industry, it is

believed that such periods come in cycles and bring an apt time to cash upon.

hat makes real estate in umbai so exciting are an ongoing demand and the

proposed projects that are to be executed in approaching years. 8uilders always have

special offers and attractive schemes in store for end consumers. apital <alues of 2uality

apartments, in well4maintained old buildings and upcoming projects, in outh and outh

entral umbai, have gone through the roof

A5?

)gency is that branch of the real estate business which engages the attention of the

greatest number of persons who are concerned with the business, and in that respect it is of

prime importance. It is divided into two parts, brokerage and management.

) broker is a person who for compensation, usually proportioned to the value of the

subject4matter, brings about transactions between principals. 8rokerage has two divisions

according to the kinds of business which usually engage the attention of the broker. Thesales broker is a broker who devotes his time and attention to the bringing about of the sale

or exchange of real property. ) loan broker is one who gives his attention to the obtaining

of loans upon the security of real property. 6ne man may practice both branches of the

business, or a specialist may devote himself to either of these branches.

anagement, the second branch of agency, is the operation of deriving income and

caring physically for real estate structures. It concerns itself not only with the deriving of

income, but with the keeping down of expenses and the care in making expenditures. It is

popularly known as )gency.

5%



VISION

N8enchmarking our services in terms of $eople, $ace & $assion to be the best in the

Industry.O

MISSION

NTo provide creative solutions, by customi0ing our services to suit the

re2uirements of our clients. To encourage & facilitate our team to

reach its optimal potential combining its diverse strengths to provide

total customer satisfaction.O B-5r3/?>

They started as a journey by a single individual with a desire to excel has now

become an organi0ation which is serving the needs of the real estate industry in the country

today.

)lliance today has the best talent on its board of directors who are professionals in

real estate, finance, accounting and taxation striving to render the best of services to its

clients. )lliance today has given shape to and has structured some of the most complex and

landmark transactions for reputed clients.

They add value to your properties through their experience and expertise, with their

wide network of clients and contacts all over India and global arena. They assist everyone

in identifying opportunities and the right partners to compliment their capabilities.

Pr3* H-?>>

L= '3r> M-"

They had sole mandate to lease the mall which started in 6ctober%//Ain Rharghar.

omplete project was completed by them with good anchors and brands as listed belowE

)ditya 8irla more, )rchie?s, Cevis, Cevis ignature, ax Cife style, )dlabs, The

"aymond hop, "eid & Taylor, elspun, Thomas cott ,onnections, Routons,$lanet ,

5(



The obile tore, !omes & )pparels, Cilliput, armicheal !ouse, Rittens, Thomas cott,

#ini & Hony, Ca*iamond, +ice Cooks, *osa $la0a, hina Cand, hopking, IndianTadka,

oti ahal, af -nergise, af 8ollywood, Rwality wirls Huice Qone, +amrata up

orn .urries and $arathas, etc.

C= C?r M-"

They have leased 6perational all on $alm 8each "oad, <ashi. The

list of brands which we introduced to this mall areE

Cevis, "oop angam, Rittens, #ini& Hony,Ca *iamond, )nd *esign,)dora, &8

hoes, 8lack berry, eekender, Infancy, Timex, #R8 6pticals, 8lack 8erry, IT Hohn

$layer, Dnistyle, )ddidas, +ike, pykar, Cee ooper, "uff Rids, C effect, Cive In,

Covable, *ominoes , +ice Cooks, Top orn, af offee *ay, )meoba #ame Qone, tone

age "estaurant.

Or I?>==>/- Pr3* H-?>> "

Br3r-5 >-*"

U rystal all4 8andra & umbai Times af

U "eliance & aithili ignet at <ashi.

U Rstar all =hembur )ditya 8irla ore

U 7antasia all4Inox 9ultiplex:

B-? F=?-?"

55



U )rrangement for )kshar *evelopers from )xis 8ank

U )rrangement for ell4wisher onstructions from )xis 8ank

U 7*I investment for Cittle orld all.

;/-= O=*

ontinuous improvement in the 2uality of services.

$rompt response to customer complaints

trong property data bank.

)ggressive follow up & due diligence.

$anel of associates for legal, finance, market research,investments and other allied

subjects.

!andling properties in all metros and all other cities across thecountry

Or=

)lliance $roperty ervices is professionally managed company !aving presence in

umbai, India in the following activitiesE

1. "eal estate =ale and lease.

%. Cease of retail outlets in malls and !igh street.

(. Hoint ventures with developers.

5. Ceasing and sale of entire properties with !igh <alue clients.@8uilders@Investors@$rivate

e2uity @<enture capital @7oreign *irect Investors.

;. 7ranchising in retail and other spheres.

. )rranging attractive investment proposals@ideas for investors.

A. !olding real estate@franchising @retailing @financing expositions and

5;



-xhibitions in all towns and cities.

'. 7inding investors for local developers and 8uilders.

G. Dnderwriting entire projects for marketing, investments and -xecution

C3r@3r- R- E*- Sr=*

Transactions for all kinds of properties across the country includingE

"esidential

6ffice

ommercial

"etail & hopping alls

IT $ark

8$6@ all centre

!otel & "esorts

Ceisure & -ntertainments

!ospitals

ultiplex es

Indus trial

Institutional.

A>=*3r Sr=*"

Investment )dvisory ervices

Third $arty *ue *iligence & ervice anagement

7easibility )nalysis

Cease & Dtility )udits

"elocation tudies

$roperty <aluation & Tax onsulting

ite election odeling )nalysis & trategic $lanning

erger and )c2uisitions

Hoint <enture, ollaborations, 7ranchise

7oreign *irect Investment 97*I:

5



A=> Sr=*"

<aluation and Cand )ppraisal

Tenant @ $urchaser "epresentation

"esearch & 7easibility tudies

$roject anagement

8ank 7inanceE $reparing project and feasibility report, 8ank

Turnkey 7inancing olutions

V-/ ->>> Sr=*

1. T/r? K Pr3*" L**3?=?5 63r A@@r3-

a: entral #ovt. of India

b: tate #ovt. of India

c: Cocal #ovt. and unicipal orporations

2. +3=? V?/r = B* I?>=-? R-3r* 63r M/=?-=3?- C37@-?=*.

(. 6ffice 8uildings and !ouses for ompany anagement.

5. $roject anagement onsultancy ervices.

;. *esign, )rchitect, arketing, etc.

. Cocal )ssistance for ite *evelopment @ onstruction.

A. #lobal $artnership with leading realtors overseas for Indian "ealtors.

)fter achieving a reasonable success in umbai and +avi umbai, they are now planning

to have branches and associate offices in all cities and

5A



SELLING MARKETING DEPARTMENT

The ultimate aim of the "eal -state arketing is to increase the demand for a

particular type of property and to increase the price so that the seller of the property owns

the highest amount of profit for himself. The "eal -state marketing is needful also to make

the "eal -state project work and make it familiar among the public as much as possible.ost of the "eal -state sellers keep an amount intact just for their "eal4-state arketing

and on that basis they choose certain "eal -state arketing )gents and give them the

responsibility to sell their property off with as much profit as possible. If the seller?s budget

is big enough then he can go for renowned "eal -state arketing agency and for those

with small budgets the smaller agencies are also available. ost of the big "eal -state

owners who want to sell their properties prefer to go for big marketing agencies as they

have better ways to promote one?s properties and have able agents who can find the right

kind of agents working for them who have better contacts and have better ways to

populari0e the real estate property.

) good "eal -state arketing )gency always puts special emphasis on the right

kind of information that one needs before starting "eal estate arketing and for that the

agency normally conducts some kind of survey to gather the right kind of information.

Cater the "eal4estate marketing )gency depending on that report develops their ways of

marketing. +owadays a lot of "eal estate marketing is done through the help of the

Internet. 6ne can have various websites that do marketing for different real estate

properties for a certain amount of money. 6ne also needs to make the website precise and

filled with to the point information. The "eal estate Internet arketing is a very simple

process and is cheaper in nature as well. )lthough one needs to keep the demands and the

reasonable amount of price in mind.

I was functioning under operational projects of )lliance $roperty

ervices for !arare?s ommercial $rojects namely 4

enturion ommercial & hopping omplex, +erul

<ashi InfoTech $ark, <ashi

!aware Infotech $ark, <ashi

7antasia all, <ashi

In marketing, $romotional strategies were used namely 4

5'



+ews paper advertisements,

<isual media ads in local cable channels

*irect arketing9door4to4door: in commercial complexes and

Through www.iproperty.com

8usiness cards can either by a waste of paper or an effective bridge between a prospect

and their potential as a long4term client. o, follow4ups of all the business cards that were

dropped in at the site office were done on a daily basis.

8rokers & agents were also approached to get their clients for the deals. Telephone &

-mail follow4ups also formed a part of my job. There was face4to4face interaction with the

customers for the sale of shops@offices by convincing them to buy.

ustomer *atabase was also maintained considering various heads like4 *ate of

purchase, hop@6ffice no., +ame of the customer, )rea of the shop@office in s2.ft., Total

value of hop@office in "upees, Total "eceived9cash@che2ue: and 8alance amount

ADVANTAGE FOR REAL ESTATE AGENT"

10Y-r T- H3=>-

The finance inistry has announced a 1/4year tax holiday for developers of Industrial

parks set up from )pril 1, %// to arch (1,%//G. )ccording to the Industrial $ark cheme

%//' notified by the entral 8oard of *irect Taxed 98*T:, the industrial park developers

will be eligible for 1//B tax deduction which is to be provided for 1/consecutive

assessment years out of 1; years after the commencement of operations of such units. The

developers will be free to choose the 1/consecutive years for the purpose of availing

themselves of the tax holiday.

Pr= V-r=-=3?* =? I?>=-

There are unbelievable variations in the prices of real estate sector in the past. hich

mainly affect to the sale of business. ainly there are two causes for the sameE

Pr C-@=- I?37

GDP - M-r Pr=

5G



Pr C-@=- I?37

)s depicted by fig. % per capita income is increasing in India, which has increased the

purchasing power of the people. *ue to this over the last year 9%//4/A: houses prices have

raised by 1/4G/B and commercial property prices by 1/4(/B in different area of India.

orrelation .GG is found between $I and real estate prices. Thus there is a positivecorrelation between per capita income and real estate prices.

GDP - M-r Pr=

#*$, the indicator of the national growth, from the past %4( years is increasing by .;B

toA.;B. -very rupee spend on the construction add to nearly /B of #*$. )s shown by the

figure the #*$ has increased from the %5((%5 crore to (;%G%5/ crore from %//%4/( to

%//;4/, so it indicates that how the spending on the construction sector helps the real4estate prices to increase.

C-r T=

G/B of the lands in India do not have clear title. The ownership is unclear, thereby creating

a scarcity of land. This is due to poor recordkeeping and outdated complaint processes. )ll

updated records must be computeri0ed to increase transparency in land ownership. )nd

special fast track courts must be set up to clear all legal land disputes in a short period of

time.

;/



S-7@ D/ R5=*r-=3?

The cost of transferring land titles must be reduced from rates of 1/Bstamp duties to

reasonable levels of ( to ;BL similar to prevailing rates in developed countries. This will

encourage sellers to pay stamp duties, instead of trying to cheat the government, thus

increasing the revenue for the country. The high duties have also encouraged unaccountedmoney being used in most real estate transactions in India. The registration procedure

should also be made transparent and simple so that corruption can be minimi0ed.

B/=>=?5 C3>*, S-?>-r>* Pr7=**=3?*

There are several building guidelines and standards in various cities and states, however

they are neither followed by the developers nor implemented by the authorities.

D3@7? -?> P-??=?5

In India development and planning concerned with real estate sector is not up to the mark.

The city or state authorities must use professionals to plan and execute all development

plans for cities and towns, with future development in mind. This must be done without

political compulsions. This will allow proper 0oning within cities and towns, green areas

and other infrastructure systems to fall into place as the development plans unfold.

Pr*? S?-r=3 =? I?>=-

Dp to the end of %//A real estate sector in India was growing at a very high rate. There was

a situation of boom in this sector. The home loans were easily available and "8I was

following very liberal policies regarding the interest rates. 8ut in %//' the things are

changing due to the high rate of inflation in the Indian economy. There is uncertainty in the

market as share market is showing depression and the "8I is also increasing the 8ank rate

leading to the increase in the interest rates. o the buying power is reducing. The major reasons for this downfall are inflation and the low rate of #*$.

;1



F=?>=?5*

K )s the #*$ increases the real estate prices also increases because there is a high degree

of positive correlation between the real estateprices and #*$.

K "eal estate prices also increases with increase in the per captaincies as there is high

degree of positive correlation between these two also.

K The infrastructure of India is also growing day by day so it adds to the

8etter facility to different sectors which affect the real estate prices.

K The 7*I into the country affects the real estate 7*I and real estate having a positive

correlation leads to the boom in this sector. Increase in 7*I from %// to march %//A is

1/B. -arlier it was 1B and now in%//' it is %;B.

K The interest rate also affects the real estate prices because it affects the lending and borrowing by the investors.

K The growth in the real estate sector is between %;4(/B in a residential ector, 1/41;B in

commercial sector and agriculture sector.

K !ousing sector constitute '/B of real estate in terms of value and %/B

by commercial sector.

K In residential segment, availability of easy home finance and rising purchasing power has

driven the growth. 8uilders are launching high4end, life style residential products to cater

to the growing bunch of high net worth individuals.

K In %//' the growth of real estate sector is going down due to high inflation and hike inhome loan rates by the banks following the increase in bank rate and C" by the "8I

;%



K The outsourcing and IT@IT- industry have contributed to the demand for 2uality office4

space. The estimated demand from IT@IT- sector alone is expected to be 1;/mm s2. ft. of

space across the major cities by %/1/.

S/55*=3?*

The following recommendations are made this paper4

K *ue to high prices the lower income group is not able to purchase the shops, so company

should take kept in mind to protect the lower income group.

K The agriculture land covered into the commercial and residential purpose. 8ut the

population is also increasing day by day. o company should steps for the same.

K The investors should analy0e the type of project in which they are

going to invest and the potential returns from it.

K $rivati0ation of )irports and ports needs to be speed up.

K There is a lack of proper data and management of the real estate sector so company

should take the corrective steps in this regard so that the proper estimation and

management of the real estate can be made possible.

K ommonwealth is scheduled for %/1/. !otels, sport stadiums another infrastructure to

have successful games need to be expedited. This is another great opportunity for foreign

developers and investors to step in India. Thus more and more encouragement should be

given to foreign investors.K tamp duty is extremely high and must be rationali0ed and

brought down to %4(B as per global practice, which is now in India varies from ;4 B.

K *ue to lot of investment avenues in real estate in India, fraud cases are

also increasing day by day like in *elhi deconstruction of buildings. Thus

areful measures and laws should be enacted to deal with these types of situations.

;(



CONCLUSIONS

)fter studying all the factors of the real estate it can be concluded

that the "eal -state is a very wide concept and it is highly affected by the macro4economic

factors like #*$, 7*I, per capital income, Interest rates and employment in the nation. The

most important factor in the case of "eal -state is location which affects the value and

returns from the "eal4-state. India needs a stronger capital market base for property

financing. The debate on the potential introduction of "-ITs and real4estate funds points in

the right direction. The introduction of "-IT s in%//A, will give international investors in

particular a familiar investment vehicle. $rivate investors could also enter into indirect

investment in real4estate. )lthough interest in new projects is most likely to come primarilyfrom institutional investors, the rising middle class is likely to seek new instruments aside

from direct property investments in the medium term?s, in the end we can say that the

investment in "eal -state in India is aviary good investment opportunity. 8ut one should be

very careful while taking decision in this direction due to rising inflation and interest rates.

Cegal issues should also be kept in mind while choosing a property.

;5



IMPLICATION OF THE STUDY

India has enormous potential in all its property investment categories. trong

population growth, a large pool of 2ualified workers, greater integration with the world

economy and increasing domestic and foreign investment are fuelling demand for office,

retail and residential property. )lthough not discussed in depth in this paper, this demand

growth can also be applied to many special property classes, such as hotels or second

homes. #oing forward, it will be a matter of exploiting this potential. 7or the real estate

industry, three aspects are most particularly important. 7irst, further opening to foreign

investment is desirable. +ot only do international investors have the means to finance new

construction projects, but also possess the expertise in market analysis, facility anagement

and building construction. In the medium term these will act as catalysts to bring greater

transparency to the market. econd, India needs a stronger capital market base for property

financing. The debate on the potential introduction of "-ITs and real estate funds points in

the right direction. The introduction of "-ITs in %//A will give international investors in

particular a familiar investment vehicle. $rivate investors could also enter into indirect

investment in real estate. )lthough interest in new products is most likely to come

primarily from institutional investors, the rising middle class is likely to seek newinstruments aside from direct property investments in the medium term. Third, the

government needs to step up developing the urban infrastructure. In recognition of this,

India?s finance minister hri $. hidambaram presented an extensive urban investment

package during his budget speech for fiscal year %//;@%//E NIf our cities are not renewed,

they will die.O5/ In *ecember %//; the Hawaharal +ehru +ational Drban "enewal ission

estimated that the selected ( cities will re2uire annual investments of D* 5 bn. "oughly

half of this is for the seven biggest cities. In his latest budget speech on 7ebruary %', %//the finance minister also announced that the government wishes actively to promote the

establishment of new towns.51 hannelling the process of urbanisation into new

agglomerations is a plausible step, given the growth scenarios for the metro cities. 8ut it

re2uires additional funding and is likely, at best, to make an impact on real estate markets

in the medium term.

;;



"esponse <ariance )cross ample haracteristics. The sample was tested to see whether

the responses to the practice 2uestions varied significantly relative to a number of control

factors. The factors tested wereE "eal estate portfolio si0e "- team si0e "-&7

operating budget si0e $rofessional membership 9A(B of the sample are industry associationore +et #lobal members: "- organi0ation structure Industry sector -nterprise annual

revenue Total number of enterprise employees +o significant differences across responses were found

based upon these factors. The only difference in means that was greater than 1 9i.e. one point

difference in average response on the 14A scale: was the difference between the lowest and highest

industry sectors. "egus #lobal "eport orporate "eal -state Impact on -nterprise uccess

)pril %/11 7indingsE 7undamental "- management $ractices The study collected

information regarding four fundamental corporate real estate practicesE organi0ational

structure, budget control, "- reporting and use of suppliers. "esponses were limited to

four choices. The responses are informative on their own, and were also compared to

the practices maturity scales to see if any of these fundamental characteristics correlated

with the survey results, as discussed above. There is very little information published

documenting the relative distribution of these practices, and the results shed light on some fre2uent

debates. 7urther, one 2uestion solicited the opinion of the survey respondent regarding senior management?s

view of "- .#iven the increase in tele work 9where employees are allowed to work from

home or another location: and implementation of alternative workplace strategies 9):,

the survey also en2uired into current telework and ) practices, and asked respondents

to predict future policies and practices regarding alternative work and sustainability at their

company. 7undamental "- $ractices )mong the four generic approaches to "-

organi0ational structure presented in the survey, a hybrid of functional and geographic

operations was most commonly cited, possibly due to the global scope of many of the

participating companies. The rest evenly balanced between either functional or geographic

driven organi0ational structures, as shown in 7igure %. +one of the participating companies

managed corporate real estate at the business unit level. 7igure ( summari0es the budgetary

control and real estate cost charge4back policies at the companies surveyed. The

most common practice is to budget and manage "- costs centrally and then recharge all

costs back to business units. There is a fairly even spread across the other three methods.

In the majority of the organi0ations 9A'B: the central "- function has control of the

overall "- budget and through this

;



should be able to strongly influence and drive improved practice and policies consistently

across the entire portfolio. 7igure %E 8asis for "- 6rgani0ation tructure 7igure (E

8udgetary ontrol and "echarging $ractices. The distribution of where the "- function

reports into the overall corporate management reporting line is also 2uite diverse across thesample, as 7igure 5demonstrates. The survey respondents most fre2uently report to the

hief 7inancial 6fficer, followed by both the hief 6perating 6fficer and the Technology function.

orporate "eal -state Impact on -nterprise uccess The survey collected information

about the level of activity where suppliers are used. The results are shown in 7igure ;.

#iven that the survey was targeted at the largest corporate occupiers who would potentially

be best positioned to benefit from integrated services across the globe, it may be surprising

that ('B of the respondents only use suppliers tactically at a local or national@regional

level. )t the other end of the spectrum, an e2ual proportion of respondents engage

suppliers on an Nan international level based around a limited number of

principal relationships responsible for integrated solutions across a wide range of functions

and@or countries.O This points to a considerable growth potential for the major international

service providers, as over /B of those surveyed aren?t currently using integrated solutions

on an international b

9 earch 7rom #oogle site :

"eal -state Impact on -nterprise uccess urrent and 7uture orkplace and ustainability

$ractices The survey found wide variation in formal >telework? or telecommuting policies

9where employees are allowed to work from home or another location:. "espondent?s were

asked to select the category that best represented the proportion of the organi0ations which

>telework? applied. The responses, shown in 7igure , indicate that formal policies

regarding telework are limited to a relatively small percentage of the workforce at half

of the participating companies. !owever, at the other end of the spectrum, 1'Bof these

large companies allow over 5/B of their workforce to telework.7igure E 6rgani0ation?s

formal telework or telecommuting policyDse of telework tends to foster the use of

alternative workplace strategies 9): which were described as a range of flexible workplace

settings provided for an employee?s work in places that are not assigned individually. 7igures A and '

summaries current and future ) availability to the work for

;A



FINDINGS <RECOMMENDATION

R6rr-*

It has been estimated that in +orth )merica, referrals and word4of4mouth recommendations

generate ';B of new business.

In effect, a referral or recommendation, is third party confirmation that the business,=i.e.

the agent=is competent and trustworthy. The challenge for agents is to increase the number

of people who believe that they are sufficiently competent and trustworthy to recommend

them to other people. This reputation for competence and trustworthiness doesn?t just

happen=it has to be earned.

A>r=*=?5

)dvertising properties listed for sale represent implied endorsements of agents?

competence and trustworthiness. )fter all, the owners of the properties advertised for sale

must have believed the agents to be competent and trustworthyL otherwise they would not

have hired them to help sell their properties.

O@? H3/**

6pen houses allow real estate agents to showcase their technical expertise and personal

characteristics. 8y interacting with agents at open houses, prospective clients can assess

individual agents? competence and trustworthiness and by extension, how the agent can

help them. 7or prospective clients, it?s like test driving a new car.

N3r=?5

+etworking is the most multi4faceted, versatile and effective marketing tool available to

real estate agents. )mong other things, it allows them to exchange information and

showcase their trustworthiness. )bove all, it also makes it possible to interact with other

people, who ideally will like and trust an individual agent well enough to do business with,

and refer others to him or her.

;'



Pr3*@=?5

The best way to develop a client base is by well focused prospecting.

$rospecting is an essential marketing strategy. It generates new leads that can be converted

into clients. It also provides the inflow of new clients. These clients will ultimately become part of the pipeline by contributing repeat and referral business.

A B?6= F3r A A5?*

)ll real estate agents can benefit from applying the best marketing practices of high

producing agents. pecifically, this means that the key marketing strategies of high

producing agents will help you attract clients.

;G



LIMITATIONS

V D/ 3 =7=-=3? 36 =7 - *-7@ *= 36 3? !0 r*@3?>?* 3*?

T S/r -* -rr=> r3/5 ;/*=3??-=r -?> /*=3?*

r -*> 3? @r@=3?.

T S-7@ 63r r*-r -* 3*? 3? 6r37 - =7=> -r-.

S37 36 r*@3?>?* 7- =-*> =? 5==?5 r*@3?**.

C37@ >-- -* ?3 --=- >/ 3 37@-? @r=- -?> *r

T=* 3?/*=3? -?> r377?>-=3? 7-> -r -*> 3? - r **

@r=? 36 r*-rr =? =* 6=>.

/



OVER ALL E8PRINCE

India has enormous potential in all its property investment categories. trong population

growth, a large pool of 2ualified workers, greater integration with the world economy and

increasing domestic and foreign investment are fuelling demand for office, retail and

residential property. )lthough not discussed in depth in this paper, this demand growth can

also be applied to many special property classes, such as hotels or second homes. #oing

forward, it will be a matter of exploiting this potential. 7or the real estate industry, three

aspects are most particularly important. 7irst, further opening to foreign investment is

desirable. +ot only do international investors have the means to finance new construction

projects, but also possess the expertise in market analysis, facility anagement and building

construction. In the medium term these will act as catalysts to bring greater transparency to

the market. econd, India needs a stronger capital market base for property financing. The

debate on the potential introduction of "-ITs and real estate funds points in the right

direction. The introduction of "-ITs in %//A will give international investors in particular a

familiar investment vehicle. $rivate investors could also enter into indirect investment inreal estate. )lthough interest in new products is most likely to come primarily from

institutional investors, the rising middle class is likely to seek new instruments aside from

direct property investments in the medium term. Third, the government needs to step up

developing the urban infrastructure. In recognition of this, India?s finance minister hri $.

hidambaram presented an extensive urban investment package during his budget speech

for fiscal year %//;@%//E NIf our cities are not renewed, they will die.O5/ In *ecember

%//; the Hawaharal +ehru +ational Drban "enewal ission estimated that the selected (cities will re2uire annual investments of D* 5 bn. "oughly half of this is for the seven

biggest cities. In his latest budget speech on 7ebruary %', %// the finance minister also

announced that the government wishes actively to promote the establishment of new

towns.51 hannelling the process of urbanisation into new agglomerations is a plausible

step, given the growth scenarios for the metro cities. 8ut it re2uires additional funding and

is likely, at best, to make an impact on real estate markets in the medium term .

1



AMRAPALI GROUP DEVELOPING INDIA

I - 3 7-? @* 36 @r3 =? N3=>-, N3=>- ?*=3?, G-=-->, D= -?>

-?3r =. Pr3 =* A7r-@-= S-@@=r, H-r - =, H-?5=?5 5-r>? 3>=-

L=*/r -.

AMRAPALI SAPPHIRE S3r 44 ?3=>-

1. This project is in total %%.; acres of land.

%. Total %; towers ),H,+,<, towers are 58!R & another tower are %&(8!R.

(. This project is near to sector 55 which is prime location of +oida.

5. )mrapali sapphire is front of unitech golfcourse.

;. This project connected to ahamaya flyover.

. 7rom this project 8otanical #arden, etro tation4(A, etro tation 41' & #I$mall only ;min.*rives.

%



DNI;UE SELLING POINT

1. 6++-TI<IT34 )!))3) 7C36<-" %. C6)TI6+ 4 +-)" T6 -T6" 55 $"I- C6)TI6+ 67 +6I*)(. #-+T"34 8D"6")T-

T3$- 8!R )"-)

Type41 %8!R W % toilet 115/@s2ftType4% (8!RW %toilet 1(G/@s2ftType4( (8!RW (toilet 15/@s2ftType45 (8!RW (toiletWervent "oom 1';/@s2ftType4; 58!RW 5toiletWervent "oom %5;@s2ftType4 58!RW 5toiletWervent "oom (/A;@s2ft

$"-77-"-* C6)TI6+ !)"#- 9$C:L4

1. 7irst 7loor 4 %//@s2.ft.%. econd 7loor 4 1A;@ s2.ft.(. Third floor 4 1;/@ s2.ft.5. 7ourth 7loor 4 1%;@ s2.ft.;. 7ifth 7loor 4 1//@ s2.ft.

(



$-I7I)TI6+ E4

1. 7loor 4 <erified Tiles

%. all 4 Texture painting in Civing room & aster 8edroom

(. Ritchen4 odular & emi odular

5. Toilet 4 !ind ware & jaguar fitting

;. aster 8edroom = ooden flooring

. eiling 4 $.6.$.

;



;UESTIONARIES

A. I -? 3 3?*=>r 37* =? =* -/ -53r"

Dnder ` %//,/// 9condos:

`%//,///4` %;/,///

` %;1,///4` (;/,///

` (;1,///4` ;//,///

` ;/1,///4 ` A;/,///

` A;1,///4` 1,///,///

` A/,///,//4

` (,////,///

unlimited

B. I -? =* ?/7r 36 >r337*"

14%

(45

; or more

C. I -7 33=?5 63r r3/5 =* -73/? 36 */-r 633-5 36 ==?5 -r-"

Dnder 1,5//

1,5//4%,///

%,///4%,A//

%,A//4(,;//

(,;//4;,///

;,/// or more

D. I 3/> @r6r =* 3 *="

)verage Tract si0e

1@5 4 1@% acre

1@% 4 1 acre

1 4 ; acres

; or more acres

E. I 3/> = 3 =?*=5- =* @ 36 ?=53r33> & - - -@@("

Drbanuburbs



Town

ountain )rea

F. I = 3?*=>r"

only single family homes

villa and penth house

both of the above

G. YES, I 7/* * 7 @r*? 37 63r 3?*=>r=?5 @/r-* 36 -?3r

37.

I 3/> *=7- =* *=?5 @r= - -@@r3=7-" =? R*.

%//,///4%;/,///%;1,///4(;/,///

(;1,///4;//,///

;/1,///4A;/,///

A;1,///41,///,///

1,///,///41,;//,///

6ver %,;//,////

I do +6T need to sell my present home before purchase.

H. I ?> - ? 37"

Immediately

In G/ days

In months

ithin a 3ear

A



BIBLOGRAPHY

• D=66r? +3/r?-*.

• I?>=-? R- E*- 7-r=?5 & A?= /7-r *-=?= (

• .5335.37

• .==@>=-.37

http://www.google.com/

http://www.wikipedia.com/

http://www.google.com/

http://www.wikipedia.com/

abu sufiya n

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