Report GroupL

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Marketing Research

ProjectDescriptive Study of real estate market of

Manipal

Submitted To: Prof. K.J Jaims

Submitted By: Group 12(L1 and L2)

Abhishek Vyas Bharat G

Anubhav Tripathi Dhaval Patel

Arpita Verma Rohit T S

Girish Shetty Surya Mohapatra

Vamsi Shwetha Nyamati


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Acknowledgement

We take this opportunity to acknowledge all the help and support we received from various

quarters without which this project would not have been successfully completed.To begin

with, we would like to express our heartfelt gratitude towards Mandavi, Premier and

Priyadarshini builders for giving us the initial information about the current real estate market in

Manipal. We would also like to thank all the students of KMC, MIC and MIT for filling up our

questionnaire. We would like to thank the other faculty of TAPMI for their support in filling up

the questionnaire and giving us the required research data. We would also like to extend our

heartfelt gratitude to Prof. K.J Jaims for his guidance throughout the project.


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Contents

Acknowledgement ........................................................................................................................................ 2

Executive Summary ....................................................................................................................................... 5

Research Objectives: ................................................................................................................................. 5

Concise statement of method: ................................................................................................................. 5

Summary: .................................................................................................................................................. 6

Introduction .................................................................................................................................................. 7

Research Method and Procedures.............................................................................................................. 11

Demographics of Manipal ....................................................................................................................... 11

Calculations of Demographics ................................................................................................................ 11

Sample size calculations .......................................................................................................................... 12

Data collection Method .......................................................................................................................... 13

Data Analysis and Findings .......................................................................................................................... 16

Qualitative Analysis ................................................................................................................................. 17

Real Estate Market in Manipal: ........................................................................................................... 17

Major players: ..................................................................................................................................... 18

An In Depth study on Mandavi builders: ............................................................................................ 19

The Manipal advantage: ..................................................................................................................... 21

General factors which affect the Real Estate market in Manipal ....................................................... 21

Behavior of buyers .............................................................................................................................. 23

Behavior of the NRI buyers ................................................................................................................. 23

The trends of Real Estate Industry in Manipal: ................................................................................... 24

Quantitative Analysis .............................................................................................................................. 25

Families ............................................................................................................................................... 25

Students .............................................................................................................................................. 34

Summary and Recommendations ............................................................................................................... 51


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Limitations .................................................................................................................................................. 52

Appendix ..................................................................................................................................................... 53

Questionnaire for Local Faculty/Families ............................................................................................... 53

Questionnaire for Students ..................................................................................................................... 59

Photos of Mandavi Projects .................................................................................................................... 66


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Executive Summary

Research Objectives:

Primary Objective: To make a descriptive study of the Real Estate market of Manipal.

We have taken a step wise approach to attain the above objective. We have identified the

possible stake holders in the real estate industry and had made individual objectives for each

stake holder. The various individual objectives fixed were:

Study the current Real Estate market of Manipal

Study the current trends of the Real Estate market of Manipal

Identifying the potential stakeholders of the Real Estate market in Manipal

Buying behavior of the prospective and existing buyers

Attitude of the builders and contracting companies

Factors affecting the Real Estate Industry in Manipal

Future scope of Real Estate market in Manipal

All the individual objectives are studied carefully and analyzed. After attaining the individual

objectives, we have systematically integrated each of these objectives. The careful study and

integration of these objectives have ultimately lead us to the attainment of the primary objective.

Concise statement of method:

After defining the research objectives, we conducted an exploratory research by questioning few

of the builders, students and families to get a holistic picture or real estate market from buyers


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and sellers perspective.

Through this study we refined our objectives and conducted an in depth interview with major

builders and agents and got the sellers perspective of real estate market.

Also the qualitative data given by them gave us the overall picture of real estate market and

practices of Manipal.

Also, through this study we came up with parameters and factors for the questionnaire and

conducted primary research on the two segments considered for the study i.e., families and

students separately/

The data collected was later subjected to quantitative analysis like factor analysis, k-means,

cluster analysis, Perceptual mapping for understanding the buyers perspective of real estate and

factors that influence their decision.

Summary:

Qualitative:

From the study we identified the key factors that influence the real estate market in general. We

have also found factors that differentiate Manipal market from others and conducted an in depthanalysis of the market leader Mandavi Builders. We analyzed the buyers and sellers behavior

specific to Manipal. Finally we analyzed the current and future trend of real estate market of

Manipal.

Quantitative:

From the quantitative study of the data that we got for the student and the faculty questionnaire

we got the below output.

For students Privacy and Freedom is the most important factor that we got by using

frequency analysis.

By cross tabulation of NRI students and type of flat we found out that most of the NRI

students prefer 3 BHK flats.


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By cluster analysis we have classified our sample into clusters. By this we can conclude

that custer1 are students for want to stay away for the college in a place there is a lot of

shops and they do not want to compromise their quality of life .Because they want a well

furnished house also. Cluster 2 are people who are living in the apartment who want

privacy and freedom. Cluster 1 contains 20 respondents and cluster2 contain 10

respondents.

Once we perform the factor analysis on student data ,we find that :

We can classify all the factors into four major attributes facilities, proximity to college

,locality, social factor.

From perceptual analysis we found that Mandavi is preferred by people who look for

appearance. Premier builders is preferred for quality and price to an extent while

Priyadarshini has the highest Brand Recall.

The families look for properties mainly as an investment option.

Introduction

The Indian real estate sector plays a significant role in the country's economy. The real estate

sector is second only to agriculture in terms of employment generation and contributes heavily

towards the gross domestic product (GDP). Almost five per cent of the country's GDP is

contributed by the housing sector. In the next five years, this contribution to the GDP is expected

to rise to 6 per cent. Almost 80 per cent of real estate developed in India is residential space, the

rest comprises of offices, shopping malls, hotels and hospitals. According to the Tenth Five Year

Plan, there is a shortage of 22.4 million dwelling units. Thus, over the next 10 to 15 years, 80 to

90 million housing dwelling units will have to be constructed with a majority of them catering to

middle- and lower-income groups.Moreover, India leads the pack of top real estate investment

markets in Asia for 2010, according to a study by PricewaterhouseCoopers (PwC) and Urban

Land Institute, a global non-profit education and research institute. Apart from the huge demand,

India also scores on the construction front. A McKinsey report reveals that the average profit


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from construction in India is 18 per cent, which is double the profitability for a construction

project undertaken in the US.

Foreign direct investment (FDI) into India in the real estate sector for the fiscal year 2008-09 has

been US$ 12.62 billion approximately, according to the latest data given by the Department of

Policy and Promotion (DIPP).

Moreover, buoyed by positive market sentiment and demand revival in housing, four real estate

companiesEmaar MGF Land, Lodha Developers, Sahara Prime City and Ambience Ltdare

looking to mop-up over US$ 2.35 billion through public offerings.

Stake Holders in the Real Estate Industry:

Owners: People who invest in the real estate.

In Manipal: NRIs: 75% Locals: 25%

Migrants to Gulf and Mumbai from the Mangalore and Udipi region form a major segment of the

buyers.

Renters: Pure consumers. This segment doesnt own any of the property.

In Manipal 60% of the flats are rented.

Majority of the flats are rented by students (Around 60-70%).

And the remaining 30-40% was split up between parents of students and employees.


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Developers: These people prepare raw land for building which results in new product for the

market.

These would include the major builders and contractors in Manipal.

Facilitators: This includes banks, real estate brokers, lawyers, and others that facilitate the

purchase and sale of real estate.

About Manipal:

Manipal is located in between the beautiful Western Ghats on the East, mighty Arabian Sea in

the west and the Swarna river flowing in close proximity. Being a hilly terrain, it has a natural

landscape.

Manipal is one of the fastest growing city in the world. It is a leading Educational and Health

Care Centre. It is also rightly known as the International Educational centre.

It is the most cherished destination for the homegrown corporates, MNCs and professionals

alike.

Manipal is known for its serenity and beauty is popular world over, for its best quality life, sa

lubrious climate, peace loving people, world class infrastructure, fabulous educational

institutions, wide range of food and refreshing tourism destinations in the nearby vicinity.

Manipal is Famous for its world class Teaching Institutes has earned the reputation of 'The City

of Future'. It provides top class education and produces quality citizens to India as well as the

world.

Kasturba Hospital, Manipal Institute of Technology,TAPMI, Valley View International,

Shopping Centres, Schools and Colleges, Banks, and other branded showrooms like etc. are

located in the vicinity within walkable distances. The Temple city Udupi is 6 Kms away from

Manipal.


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All the above factors make Manipal an attractive destination for Real Estate. These factors also

show the potential Manipal has in terms of the Real Estate market.

Rationale of the project:

The main rationale of the project is to make a descriptive study of the Real Estate market of

Manipal. The study is aimed at understanding the past and latest trends of the real estate market

of Manipal and the scope for future growth of real estate market in Manipal.

Objectives:

- Study the current Real Estate market of Manipal

- Study the current trends of the Real Estate market of Manipal

- Identifying the potential stakeholders of the Real Estate market in Manipal

- Buying behavior of the prospective and existing buyers

- Attitude of the builders and contracting companies

- Factors affecting the Real Estate Industry in Manipal

- Future scope of Real Estate market in Manipal


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Research Method and Procedures

Demographics of Manipal

The population of Manipal is approximately around 20,000. This number includes the population

of the locals (faculty included). Students are not considered a part of this population because they

are regarded temporary residents of Manipal. This figure of 20000 was calculated by assuming

an annual growth rate of 3.5 % every year .According to the census of 2001, the population of

Manipal was 15000 .The assumption that the growth rate of population would be as high as 3.5%

is because of the fact that post 2001, there was a sudden increase in the number of students of

Manipal. Manipal Institute of Technology which offered an engineering degree in five major

specializations till 2001 is now offering around 15 specializations. Kasturba Medical College

(KMC) also started offering new courses from 2001. This led to a sudden increase in demand for

infrastructure and human capital in Manipal. Hence the large increase in the number of local

people who started residing at Manipal from the year 2001.

Calculations of Demographics

a) Number of students in M anipal (approx)Name of the Institute No of students (approx)

Manipal Institute of Technology 8000Kasturba Medical College 2000

MCODS ,Manipal 1000

MCOAHS ,Manipal 1000

Others(MCIS ,ICAS ,MMC ,MIM ,Tapmi 8000


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,MIJM ,MIC etc)

Approx: 20000 students in Manipal.

b) No of households in Manipal(approx)Assumption- 4 people reside in every household in Manipal.

Population of Manipal (approx) = 20000.

No of Households in Manipal = (20000/4) = 5000.

Assuming there are 2 children per household

No of children in Manipal = 5000*2 = 10000

No of adults in Manipal = 20000-10000=10000.

c) No of Faculty staff in Manipal (approx)Assuming 50% of the adult population of Manipal constitutes the faculty staff in

Manipal. No of Faculty staff in Manipal( approx) = 10000/2= 5000

Sample size calculations

Stratified sampling is simple random sampling of each stratum of the population. This guarantees

the resulting sample will be proportionate to known sizes in the population. Confidence intervals

will be narrower for stratified sampling than for simple random sampling of the same population.

The more heterogeneous the means of the strata are on a variable of interest, the more stratified

sampling will provide a gain in precision compared to simple random sampling. Hence we have

used proportionate stratified sampling here.

We took two strata here:

a. Students

b. Faculty + Families which comprise the households of Manipal


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Total sample is calculated by the below formula

N= (Z/e)^2(w1*s1+ w2*s2 )

Where

N denotes the sample size to be calculated

Z value we have taken here to be 1.96 with 95% confidence level

e is the tolerable error, we have assumed it to be .2

w1 is the weight assigned to 1st strata i.e the strata of students , here we have taken this value

to be .66 because out of a total population of 30000( 20000 students+ 10000(faculty +

families)adults) a staggering 66% is represented by students. So we have assigned a weight of

.66 to this stratum.

w2 is the weight assigned to 2ndstrata which in this case is .33, which denotes that faculty

/families denotes 33% of the total population of 30000.

s1 denotes the standard deviation for 1st strata which we have taken here as 1.

s2 denotes the standard deviation for 2nd strata which we have taken here as 1.

Now we will calculate the value of N

N =( 1.96/.2)^2(.33*1+.66*1)= 96.04

Sample strata size for 1st strata (student) = 96.04*.66= 63.38 = 64 (approx)

Sample strata size for 2nd strata (Faculty/Families) = 96.04*.33= 31.69 =32 approx)

So now we need the respondents data for 32(faculty/Families) and 64(students).

Data collection Method

Exploratory research


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Our primary medium of exploratory research was in-depth interviews with 3 different

stakeholders in the real estate markets:

a. Real estate agents and builders

b. Families of Manipal (which included faculty)

c. Students of Manipal University

The interviews with these people gave us a clear idea and helped design our research objective. It

also helped in determining the best research design, data collection method and selection of

subjects.

We collected a lot of qualitative data about the various reasons for the preferences and choices

that these people make while deciding on accommodation in Manipal and Udupi. It helped us in

designing the questionnaire.

Research Methodology for fr aming Faculty/Famil ies Questionnair e

For framing the questionnaire for faculty/families, we used the backtracking method .The

questions were framed such a way so that, they would help us in the further analysis, after the

data was accumulated. The analytical thinking that was put into every question to frame the

questionnaire is given below

The first four questions were framed to find the qualitative information about the people.

From the first four questions we got useful information like the number of people living

in different areas in Manipal, their current standard of living, the kind of house they

reside in. This information was required for finding a cross tabulated relationship

between all these factors and between the data we would be obtained from subsequent

questions (Qualitative and Quantative) in the Questionnaire. The next four questions were framed to clearly find out the information related to the

investment preferences of the subject, like the area they found suitable for investment in

Manipal , what kind of property they would want to buy in the future, what could be

reason for the investment and how their buying would be finance. All these questions will

clearly bring out an idea about which real estate area is the most preferred in Manipal,


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and with the data collected from these questions again a cross tabulation can be

formulated between different customer preferences amongst themselves and with other

qualitative factors (the data was calculated from the first four questions).

Question no 7 was framed especially to find out the data for factor analysis and cluster

analysis .From these statements the population can be segregated into two, three or more

number of clusters (segments), through which the data can be obtained about the most

preferred customer segments. We can segregate all the factors into 2,3or 4 major factors.

Question 8 can be used to get the information about major factors that a customer looks

for, when purchasing a house in Manipal. This information will be very useful for the

builders in Manipal, as they will have knowledge on which major factors are considered

when building a house /apartment in Manipal.

Using question 13, a conjoint analysis of two major builders in Manipal, Mandavi and

Premier builders can be done. And hence the perception of people about these builders

based on the attributes like Price, Quality, Appearance, Brand Recall, Security etc can be

found out.

The last segment can be used to find out the demographic information of Manipal. This

information is very useful for the cross tabulation between the salary and buying

preference etc. Some qualitative information about the samples in this segment can be

inferred.

Research M ethodology for framing Students Questionnaire

We have prepared a separate questionnaire for the students. The students residing in hostels form

a part of potential customers for the real estate market of Manipal. From our exploratory

research, we found that the needs of the students in hostels were quite different from those taking

accommodation outside Manipal University.

Right in the first two questions we aimed at segregating these two sets of people by asking the

kind of accommodation they have. The following questions were directed towards students

preferring hostels and their reasons for doing so. They were also probed to find out if they would

take up accommodation in apartment hostels in Manipal University. They substantiated their

answer to the question which asked the reason for staying in hostels. For example, if they


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thought that hostels were safer or they were concerned about the distance to the classes/ mess

etc. they should find the same with apartment hostels also.

The following questions were directed towards students residing outside hostels of Manipal

University. First three questions found the kind of accommodation they had, the people they

shared it with and the number of people residing there. The next two questions aimed at finding

their reasons for choosing such accommodation. From our exploratory research we found out

that there arent just one or two reasons that govern such choices but a host of them. And not all

have the same importance. Hence, we asked students to rank the reasons according to their

preferences. The opinion seeking question about their agreeability with the given statements also

was designed to serve a similar purpose and extend our findings about such reasons. Then the

same questions, about Manipal University coming up with apartment hostels, was posed to the

students. The given reasons differed as applicable to those living outside campus. This again

aimed at substantiating the reasons given for the above questions and also to gauge the impact, if

any, that would be there on the real estate market by the apartment hostels by Manipal

University. The next two questions collected data about the range of rent paid by the students

and also the area in which they reside in Manipal.

The last quantitative question aimed at finding out whether a student, after having lived inside or

outside campus, would ever think of purchasing a property in Manipal. This could either be to let

out, as an investment or serve as a link to Manipal, where they have spent many years of their

lives (emotional value). This question was posed to both students living in hostels and those

residing outside.

The demographics of the students were also collected comprising namely of name, age, sex, the

college / institute and whether or not they were an NRI.

Data Analysis and Findings


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Qualitative Analysis

Real Estate Market in Manipal:

The entire Real estate market can be broadly divided into Flats/Independent houses and Lands:

Flats:

People who invest in buying flats are mainly dominated by NRIs and sometimes local migrants (migrants

to other cities like Mumbai etc.)

75% of the owners of flats consist of NRIs and local migrants.

25% of the owners of flats consist of local people.

Majority of the buyers are looking to purchase flats instead of independent houses for a variety of

reasons. The major reason being the cost:

Average cost while purchasing a flat (facilities including security, swimming pool etc): 35 Lakhs

Average cost for building an independent with all the above facilities : > 60 Lakhs

Land:

70% of the land is mainly bought by locals.

The remaining 30% is bought mostly by business people from all over India.

The investment of NRIs in land is almost negligible.

The current prices of land (In lakhs per one cent*) at various places in Manipal:

Vidhyaniketan 5-7

Ananthnagar 3-5


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Syndicate 3-5

Tiger cicle(only 1) 25

Saralabettu 2

Eshwarnagar 2-3

Industrial area 3-4

*One cent = 435.6 sq feet

Major players:

The major players of the real estate market in Manipal:

- Mandavi Builders

- Premier Builders

- Shambhavi Builders

- MM Builders

- Priyadarshini Builders

- Dharmashree Builders

- Kirthi Constructions

All the above players deal mostly in apartments in Manipal. Hence their market share is estimated based

on the number of flats built in Manipal and the percentage of each players share.

As per the real estate construction companies and agents, there are between 1000 and 1200 flats in

Manipal. So we have taken an average of 1100 apartments in Manipal.


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Market Share:

Builder No of Flats Market Share in %ge

Mandavi Builders 327 30%

Premier Builders 190 17.5%

Others 583 52.5%

Hence a whopping 47.5% of the market is captured by the top 2 builders. And Mandavi can be clearly

inferred as the market leader.

An In Depth study on Mandavi builders:

Completed Projects:

Mandavi Pearl City (195 flats)

Mandavi Palace (50 flats, 15 shops)

Mandavi Paradise (50 flats)

Mandavi Plaza (32 flats)

Flat and Occupancy Details:

Total flats = 195 + 50 + 50 + 32 = 327

All sold out. 60% are bought by agents using for rental and 40% by household for living or rental.

Occupancy : 80% all times


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20% Not yet rented and also NRI who come once or twice in a year on holiday.

Projects under construction:

Mandavi Emerald (396 flats)

This project would be the biggest housing complex in the whole of Mangalore, Udipi and

Manipal region. This shows the growing size of the Manipal Real Estate Market.

They are also planning to come up with a mini shopping mall with food joints like McDonalds,

KFC etc.

Distinguishing factors:

Timelines are strictly followed by Mandavi Builders. Delivery on promised dates are given the

first priority. This is a very important factor for customer satisfaction in the real estate.

As per the builders, the design plays an important role in the selection of a house by the

customers and Mandavi builders give a lot of importance to design. They include all the latest

trends and practices while designing the house.

The additional benefits given to the customers like providing reliable security and other luxury

facilities like swimming pool, playground, reading room etc.

Downside of Mandavi builders:

The flat prices and rents are on the higher side. The starting price itself is around Rs 30 lakhs and

the rent starts from around Rs 12000 per month.

The flats are totally unfurnished. No furniture or other electrical appliances provided by the

builder.


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Reasons for price variation:

Basement increases value by 5%

Construction price increases after 4 levels because of additional security and construction

requirements.

Bathrooms are one of the major cost addition factor.

Strategy followed to gain cost advantage:

They construct shops in the basement along with houses which is least cost constrauction and

also helps the household and adds to their convenience.

They do not do any furnishing but direct to the renters or others with whom they can coordinate

for any further furnishing required.

They mostly construct 2 and 3 bhk apartments and within space left they construct rooms or

1bhk flats

The Manipal advantage:

1. Hospital facilities

2. Education town

3. One of the best planned towns

4. Greenery

5. Price advantage (When compared to Udipi, Magalore etc)

The closest competitors like Udipi, Mangalore etc lack majority of the above factors.

General factors which affect the Real Estate market in Manipal

These factors are based on the in depth interviews conducted to real estate builders/agents/families

and students:


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Effect of Highway:

Connectivity would be a major factor in the industry. The percentage of Udipi and Mangalore in

the buyer segment would increase considerably.

Effect of Shopping Mall:

Most of the builders have agreed this would boost the real estate industry considerably. But

some builders believe that a mall cannot be a success with such a limited population in Manipal

and it cannot compete with malls in Mangalore

Students:

Students play a major role in the growth/fall of the industry.

60-70% of the rented flats are occupied by students.

Parents of students , especially NRIs , form a major part of the prospective buyers.

A quantitave analysis on the preferences of students with respect to real estate agency.

Effect of MUs introduction of apartment hostels:

A few builders believe that it would have an adverse negative effect on the real estate industry.But a few builders believe that freedom would be valued high by the students and hence they

feel that flats would sell.

More details about students behavior would be analyzed in the quantitative analysis of the

student segment.

Not a seasonal industry:

Most of us perceived the real estate industry to be a seasonal industry as a new batch of

students during the months of June, July and August would look for houses for rent but the past

data has gone against this assumption and the builders feel that this behavior by the students is

uniform throughout the year.


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Behavior of buyers

The purchase of a house/flat to is the most significant decision. Irrespective of whether they are

buying for living or to rent this decision is influence by their financial and lifestylecharacteristics.

Some of the factors dominate depending in whether they are buying for living or investment

purpose.For eg people prefer living near commercial place if they buy it for living etc.

Surveys of buyers revealed that consumers value the guidance and advice offered by real estate

professionals and appreciated the high levels of knowledge and variety offered.

Whereas survey of rentals revealed the convenience or refernce through friends mattered most

while making decision.

Substantial majority knew about the market leaders and their offers like Mandavi, Premier etc .

Also, agents play a major role in getting customers in touch with the builders or lands to buy.

Because agents find their customers mostly and builders are found by customers usually by their

agents . But major players are always approached by all segments either for getting informantuon

or buying intention.

Behavior of the NRI buyers

This is driven by several factors. While the potential investment returns from owning residential

real estate are one of the motivations for buying and owning the flat, there are additional factors

that vary with the intended use of the home. For vacation-home owners, lifestyle considerations

such as proximity to recreation areas or to a favorite vacation spot are often the most important

motivations. Few buy as vacation home or to visit their kids and others for pure investment or for

financial gains.


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The trends of Real Estate Industry in Manipal:

Prices:

One of the most important factors of real estate industry is its volatility. This is one of the main

reasons for the fluctuations in prices of lands, flats etc.

The land near syndicate circle costed Rs 1 lakh per cent in 2006 which stands at almost 3

lakhs per cent currently.

The land prices near the China valley region was Rs 50000 per cent in 2003 which is

close to Rs 8 Lakhs per cent.

Lifestyle trends:

The builders now a days are providing various facilities like CCTV cameras, furnishings,

electrical appliances, security and also other luxurious facilities like gym, reading room ,

swimming pool etc.

In response to the above benefits being provided to the customers, the customers largely

started shifting from the independent houses to luxurious flats.

The builders are giving penthouses for rent on a per day basis. The pent house would

consist of all facilities like Air Conditioning and other electrical appliances, gas

connection, water supply etc. This would act as a strong competition for the hotels which

provide lodging for the tourists.

Upcoming Projects:

Mandavi builders are coming up with a huge housing complex called Mandavi Emeraldwhich consists of 396 flats. This is the biggest housing complex in the whole of

Mangalore, Udipi and Manipal. This shows the growing trend of Real Estate market in

Manipal.

A mall being constructed by the MM builders is a flood gate for the opening of

commercial complexes in Manipal


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Mandavi builders are proposing for another mini mall which would be a shopping an

food hub and planning to invite franchises for McDonalds, KFC etc.

The group of villas coming up. The plan is to come up with 110 villas based on demand.

The construction of these villas would start as and when there is a demand (Pull

strategy).

Quantitative Analysis

Families

Factor Analysis

Correlation Matrix

Var1 Var2 Var3 Var4 Var5 Var6 Var7 Var8

Correlation Var1 1.000 .159 -.370 -.278 -.493 -.024 .027 .248

Var2 .159 1.000 -.395 -.416 -.535 .293 -.233 -.194

Var3 -.370 -.395 1.000 .389 .334 -.040 .241 .132

Var4 -.278 -.416 .389 1.000 .769 .340 .140 .463

Var5 -.493 -.535 .334 .769 1.000 .396 .010 .131

Var6 -.024 .293 -.040 .340 .396 1.000 -.030 .251

Var7 .027 -.233 .241 .140 .010 -.030 1.000 .488

Var8 .248 -.194 .132 .463 .131 .251 .488 1.000

The findings from this analysis are:

1. There seems to be a co-relation between Var7 and Var8. i.e the options It increases my

social status when I invest more and more properties and All my friends and relatives

own a house


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2. Co-relation exists between Var 4 and Var 5. i.e I want to invest because I want an

exemption in my income tax and Var5 = I want to invest because I want to give it for

rental purpose

3. Negative Co-relation between Var2 and Var5 i.e I want to buy a house which is free

from pollution and I want to invest because I want to give it for rental purpose

Communalitites

Initial Extraction

Var1 1.000 .652

Var2 1.000 .705

Var3 1.000 .534Var4 1.000 .816

Var5 1.000 .881

Var6 1.000 .860

Var7 1.000 .635

Var8 1.000 .843

Extraction Method:

Principal Component

Analysis.

Ideally the value of extraction above 0.7 is ideal. This value is the sum of factor loading of same

variable in different factors , or the variability coming to all factors. From the table we can say

that Var3(look at buying any property for a future investment purpose) has the least value

Total Variance Explained

Compo

nent

Initial Eigenvalues Extraction Sums of Squared Loadings

Total % of Variance Cumulative % Total % of Variance Cumulative %

1 2.894 36.172 36.172 2.894 36.172 36.172

2 1.592 19.900 56.072 1.592 19.900 56.072

3 1.440 18.005 74.077 1.440 18.005 74.077


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4 .827 10.335 84.412

5 .557 6.964 91.376

6 .390 4.881 96.257

7 .230 2.879 99.136

8 .069 .864 100.000

Extraction Method: Principal Component Analysis.

Only Eigen values greater than 1 are considered and hence just 3 components are considered. These

three components represent 74% of the total data.

Component Matrixa

Component

1 2 3

Var4 .869 .071 .237

Var5 .857 -.280 .260

Var2 -.644 .051 .536

Var3 .622 -.139 -.357

Var8 .442 .802 .067

Var1 -.467 .658 .020

Var7 .330 .618 -.381

Var6 .282 .169 .867

Extraction Method: Principal Component

Analysis.

a. 3 components extracted.

Component 1: Is the set of Var4, Var5, Var3 and is the negative of Var2. These set of people look at an invest angle

when buying house. The Major criteria for these kind of people is a house that can give them ROI and mostly dont

stay in their house but give it for rent.

(Young/having high ambition)

Component 2: Is the set of Var8, Var1and Var7. These set of people look social status while buying house. These

want to buy a house in a commercial center or a main road and feel that they need a house as all their friends and

relatives own a house.

(Old/Family people/looking at stability)


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Component 3: This is a unique variety of people who look at buying property for business purpose.

(Businessmen)

Cluster Analysis

Agglomeration Schedule

Stage

Cluster Combined

Coefficients

Stage Cluster First Appears

Next StageCluster 1 Cluster 2 Cluster 1 Cluster 2

1 4 5 4.000 0 0 11

2 8 9 5.000 0 0 7

3 13 19 10.000 0 0 5

4 10 14 10.000 0 0 9

5 13 20 13.000 3 0 6

6 3 13 17.000 0 5 8

7 8 11 20.500 2 0 12

8 3 6 21.750 6 0 10

9 10 15 26.000 4 0 12

10 3 17 28.200 8 0 13

11 2 4 32.000 0 1 15

12 8 10 33.889 7 9 16

13 1 3 39.500 0 10 16

14 12 16 52.000 0 0 18

15 2 7 55.000 11 0 18

16 1 8 58.738 13 12 17

17 1 18 73.769 16 0 19

18 2 12 80.250 15 14 19

19 1 2 85.905 17 18 0

From the above table we can divide the set into 2 clusters.

* * * * * * * * * * * * * * * * * * * H I E R A R C H I C A L C L U S T E R A N A L

Y S I S * * * * * * *


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Dendrogram using Average Linkage (Between Groups)

Rescaled Distance Cluster Combine

C A S E 0 5 10 15 20 25

Label Num +---------+---------+---------+---------+---------+

4

5

2

7

12

16

8

9

11

10

14

15

13

19

20

3

6

17

1

18

Quick Cluster

Cluster Membership

Case

Number Cluster Distance


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1 1 5.124

2 2 5.883

3 1 3.202

4 2 3.591

5 2 3.169

6 1 4.894

7 2 5.847

8 1 5.323

9 1 4.397

10 1 4.734

11 1 3.993

12 2 5.131

13 1 4.254

14 1 5.330

15 1 4.051

16 2 6.305

17 2 4.461

18 1 6.784

19 1 4.182

20 1 4.098

Final Cluster Centers

Cluster

1 2

Var1 4 2

Var2 7 4

Var3 4 6

Var4 3 6

Var5 3 6

Var6 1 3

Var7 3 4

Var8 2 4


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Form the above table, we see that for one cluster of people buying a property which is free from

pollution is the highest priority and dont look at it for business purpose.

For the 2nd cluster of people, look at buying a property for investment purpose.

Perceptual

Group Statistics

Brand Mean Std. Deviation

Valid N (listwise)

Unweighted Weighted

Mandavi Price 3.78 .833 9 9.000

Quality 3.33 1.581 9 9.000

Appearance 3.89 1.269 9 9.000

Brand_Recall 3.89 1.167 9 9.000

Security_and_facilities 4.56 .527 9 9.000

Premier Price 3.44 1.424 9 9.000

Quality 3.22 1.716 9 9.000

Appearance 3.22 .833 9 9.000

Brand_Recall 3.67 .707 9 9.000


Priyadarshini Price 4.00 .866 9 9.000

Quality 3.56 1.424 9 9.000

Appearance 3.44 1.424 9 9.000

Brand_Recall 4.33 .500 9 9.000


Total Price 3.74 1.059 27 27.000

Quality 3.37 1.523 27 27.000

Appearance 3.52 1.189 27 27.000

Brand_Recall 3.96 .854 27 27.000



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Pooled Within-Groups Matrices

Price Quality Appearance Brand_Recall

Security_and_fac

ilities

Correlation Price 1.000 .780 .093 .190 -.237

Quality .780 1.000 .081 .483 -.353

Appearance .093 .081 1.000 .051 .165

Brand_Recall .190 .483 .051 1.000 -.214

Security_and_facilities -.237 -.353 .165 -.214 1.000

There is a high co-relation between price and quality

Casewise Statistics

Case

Number Actual Group

Highest Group

Predicted Group

P(D>d | G=g)

P(G=g | D=d)

Squared

Mahalanobis

Distance to

Centroid

p df

Original 1 1 2 .374 2 .466 1.96

2 1 2 .306 2 .619 2.36

3 1 3 .858 2 .587 .30

4 1 1 .165 2 .679 3.60

5 1 3 .880 2 .536 .25

6 1 3 .748 2 .602 .58

7 1 3 .696 2 .568 .72

8 1 1 .769 2 .547 .52

9 1 2 .198 2 .585 3.24

10 2 2 .628 2 .512 .93

11 2 2 .697 2 .673 .722

12 2 2 .405 2 .735 1.81


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13 2 1 .769 2 .547 .52

14 2 2 .506 2 .736 1.36

15 2 1 .978 2 .432 .04

16 2 2 .269 2 .472 2.62

17 2 2 .728 2 .475 .63

18 2 3 .938 2 .386 .12

19 3 1 .978 2 .432 .04

20 3 2 .269 2 .472 2.62

21 3 2 .728 2 .475 .63

22 3 3 .938 2 .386 .12

23 3 3 .858 2 .587 .30

24 3 1 .165 2 .679 3.60

25 3 3 .880 2 .536 .25

26 3 3 .748 2 .602 .58

27 3 3 .696 2 .568 .72

**. Misclassified case

Classification Resultsa

Brand

Predicted Group Membership

TotalMandavi Premier Priyadarshini

Original Count Mandavi 2 3 4 9

Premier 2 6 1 9

Priyadarshini 2 2 5 9

% Mandavi 22.2 33.3 44.4 100.0

Premier 22.2 66.7 11.1 100.0

Priyadarshini 22.2 22.2 55.6 100.0

a. 48.1% of original grouped cases correctly classified.


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From the above graph, we can conclude that different factors are considered while choosing

different builders.

Mandavi: People choose this builder mainly for good appearance

Premier: Is Chosen for quality and price to an extent

Priyadarshini: Has the highest brand recall among the three.

Students

One of the strata in our analysis is student. The number of respondent we have is 64 out of

which 30 students stays in apartments. We did the following analysis on the data collected.

-1

-0.5

0

0.5

1

1.5

2

-1 -0.5 0 0.5 1 1.5

Price

Quality

Appearance

Brand_recall

Security_and_Facilities

Mandavi

Premier

Priyadarshini


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Frequency analysis

Frequency analysis of the major factors for staying in an apartment .here we have done the

rank wise analysis of all the below factors.

Where:Factor 1 is Freedom.

Factor 2 is Will get to live with friends of my choice .

Factor 3 is More facilities/ utilities like TV, fridge etc.

Factor 4 is Privacy.

Factor 5 is Location of my choice.

Factor 6 is More Spacious.

rank1

Frequency Percent Valid Percent

Cumulative

Percent

Valid 1 7 23.3 23.3 23.3

2 6 20.0 20.0 43.3

4 13 43.3 43.3 86.7

5 3 10.0 10.0 96.7

6 1 3.3 3.3 100.0

Total 30 100.0 100.0


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Here from the above graph we can see that around 13 respondents has given the factor of

Privacy as the Rank1.

rank2

Frequenc

y Percent

Valid

Percent

Cumulative

Percent

Valid 1 11 36.7 36.7 36.7

2 1 3.3 3.3 40.0

3 6 20.0 20.0 60.0

4 3 10.0 10.0 70.0

5 5 16.7 16.7 86.7

6 4 13.3 13.3 100.0

Total 30 100.0 100.0


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From the above analysis we can see that around 11 respondents has ranked factor of

Freedom as Rank2.

rank3


Cumulative

Percent

Valid 1 6 20.0 20.0 20.0

3 12 40.0 40.0 60.0

4 4 13.3 13.3 73.3

5 8 26.7 26.7 100.0

Total 30 100.0 100.0

From the above graph we can see that 12 respondents has given factor Facilities/utilities

like Tv etc as Rank3.

rank4


Cumulative

Percent

Valid 1 6 20.0 20.0 20.0

2 15 50.0 50.0 70.0

3 2 6.7 6.7 76.7

4 6 20.0 20.0 96.7

5 1 3.3 3.3 100.0


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rank4


Cumulative

Percent

Valid 1 6 20.0 20.0 20.0

2 15 50.0 50.0 70.0

3 2 6.7 6.7 76.7

4 6 20.0 20.0 96.7

5 1 3.3 3.3 100.0

Total 30 100.0 100.0

From the above graph we can see that 15 respondents has given the Will get to live with

friends of my choice as Rank4.

rank5


Cumulative

Percent

Valid 2 2 6.7 6.7 6.7

3 5 16.7 16.7 23.3

4 1 3.3 3.3 26.7

5 7 23.3 23.3 50.0


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6 15 50.0 50.0 100.0

Total 30 100.0 100.0

Here from the above graph we can see that some 15 respondents has given the

factor More Spacious as Rank5.

rank6


Cumulative

Percent

Valid 3 7 23.3 23.3 23.3

4 7 23.3 23.3 46.7

5 13 43.3 43.3 90.0

6 3 10.0 10.0 100.0

Total 30 100.0 100.0


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Here we can see that some13 respondents has given factor Location of my choice as rank 6.

Summary of Frequency analysis of students

By the above analysis we found out that the most important factor a student look for while

choosing a apartment over hotels is Privacy that they get in the hostels. Second most important

factor for choosing hostels is Freedom. So we can say that students who are living in the

hostels generally look for privacy and freedom they get when they live in an apartment.

Cluster Analysis of students


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For the cluster analysis we have asked the below statements to the respondents and told

then then to rate them on the scale from 1 to 7. In which 1 is most disagreeable and 7

being most agreeable.

---- I like to be away from the campus.

---- Distance from the institute really matters to me.

---- Who my neighbors would be is a very important factor.

---- I prefer a well furnished house

---- Security in an apartment is important for me.

---- Gym, swimming pool and other facilities in an apartment matter to me.

---- Reputation of a builder matters to me.

---- I would like to live in a really busy/happening locality

---- I prefer to live near apartment/house where I can find a lot of shops.

Then we done the cluster analysis on the data and we got the below output.

Final Cluster Centers

Cluster

1 2

var1 6 3

var2 2 4

var3 2 6

var4 5 5

var5 5 4

var6 5 4

var7 2 5

var8 5 5

var9 5 5


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Number of Cases in each

Cluster

Cluster 1 20.000

2 10.000

Valid 30.000

Missing .000

By the above results we can see that all the 30 respondents will be classified into two clusters .

For cluster1 the mean value is highest into for variable 1,4,5,8,9 and mean value is highest for

var 3.By this we can conclude that custer1 are students for want to stay away for the college in a

place there is a lot of shops and they do not want to compromise their quality of life .Because

they want a well furnished house also. Cluster 2 are people who are living in the apartment who

want privacy and freedom. Cluster 1 contains 20 respondents and cluster2 contain 10

respondents.

Agglomeration Schedule

Stage

Cluster Combined

Coefficients

Stage Cluster First Appears

Next StageCluster 1 Cluster 2 Cluster 1 Cluster 2

1 13 22 3.000 0 0 10

2 25 26 4.000 0 0 4

3 4 14 4.000 0 0 9

4 19 25 5.000 0 2 7

5 9 18 5.000 0 0 22

6 16 17 6.000 0 0 16

7 8 19 6.333 0 4 13

8 15 30 8.000 0 0 19

9 4 5 8.000 3 0 15


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10 2 13 9.500 0 1 20

11 6 24 10.000 0 0 21

12 1 11 11.000 0 0 20

13 8 20 11.250 7 0 16

14 3 12 12.000 0 0 25

15 4 28 16.333 9 0 17

16 8 16 18.400 13 6 17

17 4 8 20.036 15 16 23

18 7 23 21.000 0 0 24

19 15 21 22.000 8 0 22

20 1 2 25.167 12 10 23

21 6 27 26.000 11 0 27

22 9 15 30.167 5 19 2523 1 4 33.182 20 17 26

24 7 29 39.500 18 0 28

25 3 9 46.800 14 22 27

26 1 10 47.812 23 0 28

27 3 6 64.810 25 21 29

28 1 7 65.882 26 24 29

29 1 3 80.900 28 27 0

* * * * * * * * * * * * * * * * * * * H I E R A R C H I C A L C L U S T E R A N A L

Y S I S * * * * * * * * * * * * * * * * * * *

Dendrogram using Average Linkage (Between Groups)

Rescaled Distance Cluster Combine

C A S E 0 5 10 15 20 25Label Num +---------+---------+---------+---------+---------+

13

22

2

1


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11

4

14

5

28

16

17

25

26

19

8

20

10

7

23

29

6

24

27

3

12

9

18

15

30

21

By the above agglomeration schedule all the respondents is classified into two clusters.

Cluster Membership

Case

Number Cluster Distance

1 1 4.118

2 1 4.739

3 2 5.085

4 1 3.487


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5 1 2.063

6 2 3.010

7 2 5.870

8 1 2.481

9 2 4.966

10 1 5.750

11 1 4.578

12 2 5.464

13 1 4.556

14 1 3.867

15 1 5.697

16 1 2.315

17 1 2.67518 2 5.372

19 1 3.234

20 1 4.130

21 1 6.321

22 1 4.044

23 2 5.409

24 2 5.259

25 1 2.749

26 1 2.039

27 2 4.434

28 1 3.736

29 2 6.787

30 1 6.757

Summary of cluster analysis

All the respondents were classified in the cluster membership which is shown above. So

cluster1 is classified as students who want to stay away from college and who want to stay


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near to the commercial center. Cluster 2 is the people who want to stay in apartment

because of the freedom and privacy there.

Factor analysis of students

Factor analysis is a very useful method of reducing data complexity by reducing the

number of variables being studied. By using the factor analysis all the different factors a

student look for while choosing a apartment will be classified in two or three major

broad categories.

For the factor analysis we have asked the below statements to the respondents and told

then then to rate them on the scale from 1 to 7. In which 1 is most disagreeable and 7

being most agreeable.

Here

Var 1 => I like to be away from the campus.

Var 2 => Distance from the institute really matters to me.

Var 3 => Who my neighbors would be is a very important factor.

Var4 => I prefer a well furnished house

Var 5 =>Security in an apartment is important for me.

Var 6 => Gym, swimming pool and other facilities in an apartment matter to me.

Var 7 => Reputation of a builder matters to me.

Var 8 => I would like to live in a really busy/happening locality

Var 9 => I prefer to live near apartment/house where I can find a lot of shops.

Communalities

Initial Extraction

var1 1.000 .962

var2 1.000 .970

var3 1.000 .823


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var4 1.000 .831

var5 1.000 .965

var6 1.000 .965

var7 1.000 .830

var8 1.000 .945

var9 1.000 .951

Extraction Method: Principal

Component Analysis.

The communalities table shows what percentage of variance in a variable can be explained by

the other variables. We found that most of the variables values are above 90%.

Total Variance Explained

Compon

ent

Initial Eigenvalues Extraction Sums of Squared Loadings Rotation Sums of Squared Load

Total

% of

Variance

Cumulative

% Total

% of

Variance Cumulative % Total

% of

Variance Cumulat

1 2.756 30.617 30.617 2.756 30.617 30.617 2.718 30.195 3

2 2.092 23.247 53.864 2.092 23.247 53.864 1.946 21.628 5

3 1.880 20.887 74.752 1.880 20.887 74.752 1.907 21.194 7

4 1.513 16.814 91.565 1.513 16.814 91.565 1.669 18.549 9

5 .354 3.931 95.496

6 .242 2.684 98.181

7 .111 1.228 99.409

8 .053 .591 100.000

9 8.327E-17 9.252E-16 100.000


Here we can see that four component is able to explain 95% of the variable.


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The same can be explained by the Scree plot as from component number 5 eigen value is less

than 1.

Rotated Component Matrixa

Component

1 2 3 4

var1 -.006 -.972 .063 -.116

var2 -.003 .982 .076 -.013

var3 -.076 .160 .025 .890

var4 .894 -.008 .127 .121

var5 .977 .005 -.018 -.100

var6 .977 .005 -.018 -.100

var7 .015 -.056 .046 .908

var8 .037 -.063 .966 .073

var9 .037 .077 .972 .003


Rotation Method: Varimax with Kaiser Normalization.


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Rotated Component Matrixa

Component

1 2 3 4

var1 -.006 -.972 .063 -.116

var2 -.003 .982 .076 -.013

var3 -.076 .160 .025 .890

var4 .894 -.008 .127 .121

var5 .977 .005 -.018 -.100

var6 .977 .005 -.018 -.100

var7 .015 -.056 .046 .908

var8 .037 -.063 .966 .073

var9 .037 .077 .972 .003


Rotation Method: Varimax with Kaiser Normalization.

Rotation converged in 5 iterations.

Summary of factor analysis

Once we do the orthogonal rotation we found that :

var4, var5 and var6 form component1 we named this component as facilities

var2 and var1 form component2 we named this component as proximity. The two factors

are inverse of each other.

var8 and var9 form component3 we named this component as locality

var 3 and var7 form component4 we named this component as social factor

Cross Tabulation

The cross tabulation shows that the most of the NRI students stays in 3BHK flats whereas non

NRI students may either stays in all kinds of flats but here also high demand for 3BHK flats.


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NRI * Type_of_flat Crosstabulation

Type_of_flat

Total1 BHk 2 BHk 3 BHk

NRI No Count 4 7 11 22

% within NRI 18.2% 31.8% 50.0% 100.0%

% within Type_of_flat 100.0% 100.0% 61.1% 75.9%

Residual 1.0 1.7 -2.7

yes Count 0 0 7 7

% within NRI .0% .0% 100.0% 100.0%

% within Type_of_flat .0% .0% 38.9% 24.1%

Residual -1.0 -1.7 2.7

Total Count 4 7 18 29

% within NRI 13.8% 24.1% 62.1% 100.0%

% within Type_of_flat 100.0% 100.0% 100.0% 100.0%

Summary of cross tabulation

We found that most of the NRI prefer 3BHK over 1BHK and 2BHK flats as they want comfort as it they

want space. Also Indian resident living in apartment prefer 3BHK flats.


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Summary and Recommendations

Trend: Current and Future

1. The real estate of Manipal is showing a growing trend with many new builders entering the

market.

2. There is not only growth but also changes in trend from basic living houses to luxurious

villas and apartments with large number of facilities.

Influencing factors: Growth and price

3. The main factors that influence the real estate market growth are improvements in

Infrastructure, roads and highways, better connectivity and airports and better tourism

management.

4. The reason for high rates of real estate in Manipal is due to the diverse crowd and high

paying NRIs.

5. Manipal is a favorite place for investment due to the student crowd especially from

hospitals who decide to settle down here. The greenery, a favorite vacation spot amongst the

locals and most importantly it being an education town works in its favor.

Buyer Behavior

6. Most of the transactions of buying and selling happen through the help of real estate agents.

7. Most of the buyers are NRIs who keep their houses vacant for occasional visit or

sometimes buy it as an investment and rent it.

Agents Behavior

8. There is not much competition between the builders or agents.


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9. They do not have an organized structure as they do not follow any standard procedure for

land buying. Furthermore, the management of every plot is handled by more than one agent.

RECOMMENDATIONS

1. Proper procedures of documentation of selling the property must be followed for future

reference and trend analysis.

2. Real estate should be more organized and should follow certain standard procedures for

selling and documentation.

3. Attention must be paid to advertising as many competitors are budding in Manipal.

4. Since the number of apartments are already too high in number when compared to the

commercial buildings, they should now be looking into the construction of commercial buildings

and extend their market into another dimension

Limitations

- One of the most significant limitations of the project was that the most important segment

of buyers, the NRIs , were not accessible. Hence, most of the details about the buying

behavior of NRIs were provided by the construction companies and agents.

- One very important exploratory research method, focused group discussion, could not be

conducted with builders.

- A highly unorganized market because of which, a reliable secondary source of the land

prices, available land etc could not be obtained.

- As the industry is highly fragmented, conduction of in depth interviews for all the

construction companies and agents became impossible.


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Appendix

Questionnaire for Local Faculty/Families

Hello Sir/Madam,

Were students of TAPMI, conducting a short survey on the Real estate market of Manipal. Please spare

a few minutes to answer the questions below.

1. Where do you stay


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a. Udupi

b. Manipal

c. Other

If other please specify _____________

2. Which area do you live (Only if you live in Manipal)

a. Vidyaniketan

b. Ananthnagar

c. Syndicate circle

d. Tiger Circle

e. Saralabettu

f. Eshwarnagar

g. Industrial Area

h. Alevoor Road

i. Others, please specify__________________

3. Where do you live

a. Rented Apartment.

b. Self owned Apartment.

c. Rented House.

d. Self owned house.

e. Faculty Quarters.

f. Others,please specify___________________

4. What kind of house do you live in


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a. 1 BHK (Bedroom , hall , kitchen)

b. 2BHK

c. 3BHK

d. Others, Please specify __________________

5. If you buy property in future, what would it be

a. Flat

b. Independent house

c. Land

d. Others, please specify ___________________

6. How would you finance your purchase?

a. Bank Loan

b. Market Support

c. Cash in hand

d. Other sources, please specify ___________________

7. Which area do you think is best for investment

a. Syndicate circle

b. Behind MAHE

c. Others, please specify__________________

8. Please rank the following for the best reason to buy land/property in Manipal?


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a. Looking at the trend of increasing land prices

b. Only for residing

c. Give for Rent

d. Business purposes

e. Income Tax exemption

9. Please rate the following factors on a scale of 1 to 7 (1 being the most disagreeable and 7 being the

most agreeable)

a. I want to buy a house close to the commercial center/mainroad.

b. I want to buy a house which is free from pollution

c. I look at buying any property for a future investment purpose.

d. I want to invest because I want an exemption in my income tax.

e. I want to invest because I want to give it for rental purpose.

f. My purpose of buying a property is just for a business purpose.

g. It increases my social status when I invest more and more properties.

h. All my friends and relatives own a house.

10.What do you look for while staying in a flat/Independent house in Manipal. (Please rank then in

your order of preference):

a. Builder Credibility

b. Location

c. Neighbors

d. Greenery

e. Spacious Parking

f. Security


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g. Design of the house

h. Gym, reading room, swimming pool etc

i. Fire protection system

j. Power Backup

11. If you plan to buy property which area would it be

Land:

a. Vidyaniketan

b. Ananthnagarc. Syndicate circle

d. Tiger Circle

e. Saralabettu

f. Eshwarnagar

g. Industrial Area

h. Alevoor Road


House:

a. Vidyaniketan

b. Ananthnagar

c. Syndicate circle

d. Tiger Circle

e. Saralabettu

f. Eshwarnagar

g. Industrial Area

h. Alevoor Road



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12.Which builder would you prefer while buying a house

a. Mandavi Builders

b. Priyadarshini Builders

c. MM builders (Male Manipal Builders)

d. Premier Builders

e. If other, Please specify _____________

f. Builder credibility doesnt matter to me

13.For each of the following brands, please rate the following factors from 1 to 5

Mandavi Premier

Price

Quality

Appearance

Brand

Security

Demographics:

1. Name: ______________


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2. Age: ________

3. Sex: _________

4. Income per Annum:

a. > 15 Lakhs

b. Between 10 and 15 Lakhs

c. Between 5 and 10 Lakhs

d. < 5 Lakhs

e. N/A

5. Occupation

a. Faculty

b. Business

c. Student

d. Others

If others, please specify ___________________________________________________

6. Marital Status: Single/Married

If married, number of children _____

7. Native place _________________

8. Are you an NRI: Yes/No

Questionnaire for Students


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Hi! Were students of TAPMI, conducting a short survey on the accommodation preferences of

students. Please spare a few minutes to answer the questions below.

1. Where do you stay?

d. Udupi

e. Manipal

f. Other, please specify ___________

2. What kind of accommodation you have?

a. Rented Apartment (proceed to Q 7)

b. Self owned (or parents) Apartment (proceed to Q 7)

c. Rented House/ bungalow (proceed to Q 7)

d. Self owned (or parents) house / bungalow (proceed to Q 7)

e. Hostel (Proceed to the next question)

3. Why do you prefer hostels over accommodation outside MU hostel. Rank them on your

preference.

a. Works out cheaper

b. Safer

c. Convenience / Smaller distances to classes, mess etc.

d. Parents insistence

e. Hostel Life

f. Others ,Please specify __________________

4. If Manipal University comes up with apartment hostels in future, would you prefer accommodation

there?


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a. Yes (go to Q.6)

b. No

c. Cant say (go to Q.17)

5. If you answered No for Q4, why?

a. Price/ rent works out cheaper

b. Others, Please specify ______________

6. If you answered Yes for Q4, why? Please rank the order of preference.

a. Freedom

b. Will get to live with friends of my choice

c. More facilities/ utilities like TV, fridge etc

d. Privacy

e. Location of my choice

f. More spacious

Please go to Q 17

7. What kind of flat (house/apartment) you are living in?

a. 1 BHK (Bedroom/Hall/ Kitchen)

b. 2 BHK


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c. 3 BHK

d. Others ,please specify____________

8. Whom do you share the apartment / house with?

a. College mates

b. Friends from other colleges

c. Family

d. Relatives

e. Others, Please specify _________________

9. How many people are living in your house/apartment? __________________

10.Why did you choose to live in an apartment/house over hostels? Please rank the following as per

your choice:

a. Freedom

b. Will get to live with friends of my choice

c. More facilities/ utilities like TV, fridge etc

d. Privacy

e. Location of my choice

f. More spacious


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11.What are the factors you would consider while taking a house/flat for rent. Please rate the

following on a scale of 1 to 7 :

1= Strongly Disagree 7 = Strongly Agree

---- I like to be away from the campus.

---- Distance from the institute really matters to me.

---- Who my neighbors would be is a very important factor.

---- I prefer a well furnished house

---- Security in an apartment is important for me.---- Gym, swimming pool and other facilities in an apartment matter to me.

---- Reputation of a builder matters to me.

---- I would like to live in a really busy/happening locality

---- I prefer to live near apartment/house where I can find a lot of shops.

12. If Manipal University comes up with apartment hostels in future, would you prefer

accommodation there?

a. Yes (go to Q.14)

b. No

c. Cant say (go to Q. 15)

13. If Q12 is no, why? Please rank the following factors as per your preference:

a. More freedom/ Independence

b. Privacy


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c. More comfort

d. More facilities

e. Easier access to rest of Manipal

f. If others, please specify _____________

14. If Q12 is yes, Why? Please rank the following factors as per your preference:

a. Works out cheaper

b. Safer

c. Convenience / Smaller distances to classes, mess etc.

d. Parents insistencee. Hostel Life

f. Others ,Please specify __________________

15.Please mark the appropriate range that represents the rent you pay

a. Less than 2000

b. 2000 3000

c. 3000 5000

d. 5000 7000

e. More than 7000

16. In which area do you live in Manipal?

a. Around Tiger Circle

b. Behind MU (near China Valley)

c. Around Syndicate Circle

d. Old DT Area

e. If other, specify __________________


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17.Do you have any plans to buy a property in Manipal in the future?

a. Yes

b. No

18.Demographic:

Name:

Age:

Sex:

College/Institute:

Are you an NRI? Yes/No:


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Photos of Mandavi Projects

Mandavi Pearl City


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Mandavi Empire

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