Home Buyer Perception Study

Home Buyer Perception Study

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.

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