Real Estate Business in Sylhet by moez ansary

REAL ESTATEBUSINESS IN SYLHETNext Plan Development Limited (NPDL)Batayan Shahajalal Developers Ltd.Merlin Builders (Pvt.) Ltd.Royal Homes LimitedNorth Surma Syndicate (Pvt.) Ltd.

Now a day, the real estate business in Bangladesh is becoming more popular. They arecreating a lot of opportunities in order to reduce the housing problem in the urban areas.Like other district in Bangladesh, Sylhet has a plenty of real estate companies. Thosecompanies are providing both corporate and personal solutions. The Consumer behaviorin buying real estate are influenced by - customers’ economic condition, consumer choice,motivation, knowledge and learning, Attitudes, self-concept, personality, lifestyle,reference groups, culture, social class and family. The post purchase behavior is includingPost purchase Satisfaction, Post purchase Actions and Post purchase use.

2012

Innovators@ Leading University

5/19/2012Since:

Assignment on

Real Estate Business in Sylhet

Course Code: MKT-260

Course Title: Marketing Management

Prepared For: Mr. Shamsu Uddin (Shakib)Senior LecturerPrepared By: Innovators

Name ID. NumberMoez Al Azim Ansary 1101010183

Md. Salman Islam 1101010154Smita Dey 1101010197

Farjena Begum 1101010237Badrul Amin Munna 1101010164Ashique Ibn Nizam 1101010190

Section: D.

Semester: BBA - 6th Semester.

Batch: 27th

Date of Submission: November 17, 2012

Name & ID. No. of the Group Members

Department of Business Administration

Leading University, Sylhet

Assignment on








Section: D.


Batch: 27th





Assignment on








Section: D.


Batch: 27th





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November 17, 2012Mr. Shamsu Uddin (Shakib)LecturerDepartment of Business AdministrationLeading University, SylhetSubject: Submission of Assignment Paper on “Real Estate Business in

Sylhet”.

Dear SirIt is an enormous pleasure to submit our Assignment Paper on “Real EstateBusiness in Sylhet”, which you assigned us.We get a good experience about Real Estate Business in Sylhet by preparing thispaper. Researching on real estate companies and their customers in Sylhet, welearn about the position real estate businesses in Sylhet. We also know the forcesthat drive the customers’ behavior to buy real estate. In our research work wemainly focus on the customers’ behavior to buy apartment and their satisfactionto it. We also considered the awareness of customers to buy real estate. We hopeour statement will provide a standard notion about real estate business in Sylhet.We would like to convey our tributes to you and thank you for giving us theopportunity to research on this topic and preparing the Assignment Paper. Yourqueries in this aspect will highly be expected.Thanking you.Sincerely yours,__________________________ ________________________ _______________________

Moez Al Azim Ansary Md. Salman Islam Smita Dey

________________________ ____________________________ ___________________________Farjena Begum Badrul Amin Munna Ashique Ibn Nizam

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Table of Content

Title Page No.

Executive Summary v

Introduction

Background of the Study Objective of the Study Types of Real Estate Business

1-3122Real Estate Companies in Sylhet

Next Plan Development Limited (NPDL) Batayan Shahajalal Developers Ltd. Merline Builders (Pvt.) Ltd. Royal Homes Limited North Surma Syndicate (Pvt.) Ltd.

4-745567Analysis of Comparative Status 8

Customers’ Behavior Pattern 8-12

Customers’ Perception to the Developer Companies 13

Post Purchase Behavior of Customers 14

Attributes that Create Impression about Developer Company 15-17

Location 17

Awareness of Customers 17-18

Conclusion 18

Bibliography 19

Appendix 20

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Executive Summary

Real estate business refers the business which deals in real property in generallyland and apartment. The organizations or groups who are engaging in real estatebusiness are called Real Estate Developer Company. In this century a largenumber of real estate companies are formed in Sylhet. These companiesdifferentiate themselves from each other by following different businessstrategic. They are difference in business type, architect designing method,location selection etc.Customers’ behavior to buy apartment or land depends on their economiccondition, choice, motivation, personality, lifestyle, culture, social class, familyetc. These forces drive their behavior to purchase real estate and they also selectthe type or set of the real estate. Companies should build the apartments keep inmind that behavior pattern in which majority of the people are staying.Customers are supporting the developer companies because they providesuitable apartments at a reasonable rate. Real estate companies make easy forcustomers to buy and sell apartment or plot. Today people prefer to buyapartment from real estate companies than self construction. Customers aresatisfied with their apartments and to their developer companies. They aremotivating other people to buy apartments from real estate developercompanies. In location selection both real estate companies and customers chosepopular cities and areas, business areas, important points, highway road side etc.Customers should always be awarded about the fraud real estate companies.They can fraud a customer by showing fake projects. Customer should knowabout the row materials which are used by the developer company. Customerhas the right to know all of the information of a developer company while hewanting to buy an apartment from the company to protect him from loss.


Introductioneal estate is “Property consisting of land and the buildings on it, along withits natural resources such as crops, minerals, or water, immovable propertyof this nature, also an interest vested in this, more generally an item of realproperty; buildings or housing in general. The business of real estate is theprofession of buying, selling, or renting land, buildings or housing.” Theorganizations which are involved in buying, selling or renting land, building orhousing are the real estate developer company. Background of the Study:Bangladesh is an over populated country and day by day population is increasingrapidly which created the housing problem. Land prices skyrocketed. Due to highprice, insufficiency of land, high cost of land registration, and high price ofbuilding materials, people are now not interested to buy a land for building theirown house. That’s why they turn to real estate companies who are providingflats or apartments. In response, real estate business has enjoyed a boom overthe years. In all over the Bangladesh, there are now companies growing up likemushrooms. Most of the companies are situated in Dhaka, Chittagong and Sylhetbut also spreading throughout other divisional and district towns like Comilla,Cox’s Bazar, Bogra, Rajshahi, Khulna, Mymensingh, Gazipur etc.Most of the real estate businesses are conducted by private sectors. In Sylhet realestate business expand vastly in twenty-first century. In this century a largenumber of real estate companies formed in Sylhet. Some of these companies are

Next Plan Development Limited (NPDL), Batayan Shahjalal Developers Ltd.,

Merline Builders (PVT.)Ltd., Royal Homes Limited, North Surma Syndicate (Pvt.)

Ltd.

R

| 2Real Estate Business in Sylhet

Objectives of the study:The broad objective of this study is to develop an understanding of the overallpicture of apartment/flat market of Sylhet City with particular emphasis tocustomer’s behavior, preference and expectation side. The specific objective is toknow customers’ behavior pattern and to identify and gain insights about thepreference of the apartment buyers or customers while choosing and buying theapartments or the real estate companies. Types of Real estate business:Various types of real estate business are practiced in the world.1. Land Development2. Retail Shopping Centers developing and selling3. Office Buildings selling and renting4. Apartments/Multi-Family Housing5. Land/Apartments/Building renting6. Multi-dimensional real estate businessIn Bangladesh including Sylhet generally most of the real estate businesses arecategorized into three major sectors. So, most of the real estate companies inSylhet are formed based on these categories. A categorized model of real estatebusinesses in Sylhet is given in next page.


Real estatebusines

Land development

Plot selling

Land renting

Apartment/ Housing

Residentialhomeand apartment

Office building

Shoppingmall

Shop & Storagehouse

Hotel

Residential &business house

renting

Multi-dimensional

Both apartment &land

Office building &shopping mall

Land and Propertiesrenting and all types

of real estatebusiness


Real Estate Companies in SylhetSome of the well known real estate companies in Sylhet are …. Next Plan Development Limited (NPDL) Batayan Shahjalal Developers Ltd. Merline Builders (PVT.)Ltd. Royal Homes Limited North Surma Syndicate (Pvt.) Ltd.Now we are shortly describing the profile of these companies.

Next Plan Development Limited (NPDL)NPDL is the renowned architectural and engineering design studio in Sylhet. Itstarts its work with architecture and engineering design in 2005. Now it alsoworks as Real Estate Developer Company.Type: Architecture and Engineering designer.Location:

Head Office: First Floor, Kaniz Plazza, Zindabazar, Sylhet.Contact: 0821-813933, 01819580456, 01715356380Web Address: www.npdbd.comServices: Architectural Design, Structural Design, Electrical Design, Plumbing& Sanitary Design, Graphic Design, Real Estate Development, Building Contact,Supervision, Fire fighting system design, 3D modeling, Animation, CostEstimation, Survey, Land Planning & plotting, Soil Test, Renovation work.Projects:

Architecture and Engineering Designed Projects: Some of NPDL’sarchitectural and engineering designed projects are Apon Blue Tower, BijouPalace, Anower Vista, Sadiq Villa, Sufia Complex etc.Real Estate Business Projects: NPD Rose, NPD Sunflower.


Batayan Shahajalal Developers Ltd.Batayan Shahajalal Developers Ltd. is a newly established developer company inSylhet. It has started its work from 2011. It conducts business based onapartment developing and selling.Type: Residential Apartment Developer and Seller.Location:

Sylhet Office: 27/2 payra Dorga Moholla Jornarpar, Sylhet.Contact: 0821-722733, 01611 197010

Dhaka Office: House 69/2 (4th floor), Road # 7/A, Dhanmondi R/A, Dhaka.Contact: 02-9124673, 01715842758

London Office: Relax property service, 7 Westport Street, London E1 ORAContact: 0207 7909493

Web Address: www.shahjalaltower.comE-mail: [email protected]: Shahajalal Tower.27/2 payra Dorga Moholla Jornarpar, Sylhet.

Merline Builders (Pvt.) Ltd.Merline Builders (Pvt.) Ltd. is one of the renowned developer companies inBangladesh. It conducts its business in Sylhet sincerely. It started its work withmore than 1100 projects. More than 100 projects are completed and 200 areunder construction of them.Type: Business and Residential Apartment Developer.


Location:

Head Office: Merlin Tower (11th floor),Subidbazar, Sylhet, Bangladesh.Contact: 0821-712260, 01977660001~10Wed Address: www.merlinbuildersbd.comProjects: Merlin Tower, Tasmia Tower, Sharmin Jumana Tower, MayeshaTower, Naza Tower, Tahsin Tower, Ayesha Tower are the most top project of thecompany.

Royal Homes LimitedRoyal Homes Ltd. is a multi-purpose company with the primary focus onproperty development. It is a joint venture company between local Bangladeshi& NRBs (Non Residence Bangladeshi). But, it gives importance on landdevelopment. Royal Homes has launched its first project "Royal City" which isideally located on Shahporan Bi-pass road, a beautiful land script area calledDakshin Surma. The project is a premium location and is situated in one of themost important road network in Bangladesh.Location:

Head Office:Royal Homes LimitedShefa Bhaban, Mirboxtula, Sylhet 3100, Bangladesh.Contact: +88-0821-726760, 2830281, +88-01713363666Email: [email protected] Address: www.royalhomesltd.comProject: ‘Royal City’ is a brand that has set a benchmark in the real estateindustry through its quality, professional management and commitment to thecustomer satisfaction. Royal Homes Ltd. takes pride on its success and salutesthe team works really hard.


Location:





Location:





It possesses a position of excellent transport links. It just minutes from heart ofSylhet city. The rail station is also minutes away. The project is comprised ofmore than 3000 plots with all the residential facilities to be provided by theRoyal Homes Limited. These include: school, hospital, children's park, mosque,community center, shopping mall, Lake Etc. It is the biggest (in terms ofauthorized capital) & well planned (in terms of design) land project in Sylhet -the Eastern Capital of Bangladesh.North Surma Syndicate (Pvt.) Ltd.

North Surma Syndicate (Pvt.) Ltd. was established in 2005. It is doing itsactivities trustfully. It focuses on location and modern architect design to buildapartment. NSSL makes both business and residential apartments.Type: Business and Residential Apartment Developer.Location:

Head Office: Surma Tower (6th floor)Surma Point, V.I.P. Road, Sylhet.Contact: 0821-723373, 01715 598732Project: Surma Tower.


Analysis of Comparative StatusOur listed five real estate companies are better than any other companies inSylhet. But, each of them has some difference from other. Most of them aredifference in their focus, business type, policies and constructional design. Like

as NPDL and Batayan Shahajalal Developers Ltd. basically focus on architectand engineering design; Merline Builders (Pvt.) Ltd. and North Surma

Syndicate (Pvt.) Ltd. mainly focus on location but, they don’t ignore thearchitect design, they also follow the modern architect design. Since Royal

Homes Limited focuses on land development, they always locate large area ofland in a good location.In the business types – NPDL is a service based developer company. It providesservices in real estate development work. Batayan Shahajalal Developers Ltd.and Merline Builders (Pvt.) Ltd. basically create and sell residentialapartments. On the other hand North Surma Syndicate (Pvt.) Ltd. developsboth business and residential apartments. It sells and rent showroom, office andflats. Royal Homes Limited works for multi-purpose real propertydevelopment. But, it mainly develops land and sells plots.People have a good faith on these real estate companies. Merline Builders

(Pvt.) Ltd. and Royal Homes Limited have the best status and reputation inSylhet as real estate developer. And NPDL is most top architect and engineeringdesigner company.Customers’ Behavior PatternMost real estate study is based on neoclasssical economic theory that assumesthat people make rational decisions about renting and buying real estate as partof their attempt to maximize utility. While recognizing that real estate marketsare imperfect, most real estate researchers do not examine the influence that thediversity of real estate consumers has on the demand for real estate. Consumersare complex human beings driven by internal and external forces, some of whichare beyond their control and many of which they are relatively unaware.


Internal forces are Consumer Choice, economic condition, motiation,

knowledge and learning, Attitudes, self-concept, personality and lifestyle.The external forces are reference groups, culture, social class and family.Some of these forces are briefly described below with the consideration ofrealestate buyer in Sylhet.Consumer ChoiceMuch of the study of consumer behavior focuses on consumer choice. Consumerchoice depends on utility theory in economics and attitude theory in socialpsychology of consumers. Choice to buy real estate is directed buy thecustomer’s economic stranght and utility processes of wealth, and theirpsychology.Economic ConditionConsumer behaviour is mostly varing on the economic condition of theconsumers. A person who has a sustainable and well economic condition, heusually like to buy luxurious apartment. Economic condition is the mostimportant and strong force to drive customer to buy real estate property.MotivationThe forces that derive a person to buy a good or service is called motiation.Needs, economic conition, scarcity or availablity of natural resources, attractionfor something etc. are good motivators. Most of the people have an attraction tohave real property. Economic condition of people in Sylhet is well because offorign currency. That factors forces the customers to buy apartment and land.Knowledge and learningIn the present age internet makes easyer to know about anything. Most of thereal estate developer companies have web page to provide information abouttheir projects. So that customers can easily learn about the real estatecompanies and their projects, even customers can see their apartments’ design,picture and feature. That helps them to buy the apartment.


Self-conceptSelf-concept is an organized set of perception of the self, comprised of suchelements as the perceptions of one’s characteristics and abilities; the perceptionof oneself in relation to others; and objectives, goals and ideals which areperceived as either positive or negative. Self-concept is now generally viewed inseveral dimensions: ideal self, real self, self in context and extended self(possessions and artifacts help define who one is).Real estate can be a viewed as part of the extended self, an object that helps toform identity. By their very nature, single family homes almost always performmany highly emotional, individualized, personal roles in the lives of theiroccupants. Consumers will choose to purchase real estate that either fits withtheir current self-image or is associated with the ideal image they want toachieve. This may be reflected in both choice of housing style and neighborhood.PersonalityPersonality accounts for consistent patterns of behavior based on enduringpsychological characteristics. It is the pattern of traits and behaviors that makesone individual unique and different from all others. Personality may be describedusing the psychoanalytic, socio-psychological, or trait-factor theories.Thus, a consumer’s personality may affect his real estate investment choices. Arisk taker is more likely to consider purchasing a run-down property in amarginal neighborhood, planning to improve the property and take advantage ofneighborhood improvements. A risk taker would also be more likely to choose anadjustable rate mortgage than a risk avoider, no matter what the financialcomparison shows.LifestyleLifestyle refers to the distinctive ways in which consumers live, how they spendtheir time and money, and what they consider important as activities, interests


and opinions. Lifestyles evolve over time, so consumption patterns are changingover time.Most of the high and middle class people in Sylhet now prefer modernarchitectural designed apartments. Sometime they reject their old model houseto achieve new model apartments. The real estate companies make the workeasy.Reference groupsReference groups are individuals or collections of people whom the individualuses as a source or point of comparison for attitudes, beliefs, value or behavior.Each real estate consumer is influenced by his or her unique set of referencegroups. A buyer of an apartment influences other to buy an apartment.CultureCulture consists of society’s beliefs, values, ethics, customs, shared meanings,rules, rituals, norms, and traditions. Culture provides people with a sense ofidentity and an understanding of acceptable behavior.Cultural norms that affect real estate demand include beliefs about whether eachchild should have a private bedroom, but a shared bath. Most of the people in oursociety prefer apartments with lift service, moderated design and facilities and ina good location. The value placed on individualism is reflected in the demand forcustomized homes. Builders would be wise to watch changing cultural values,producing properties that are more environmentally friendly and housinglayouts that are more suitable for family activities and interaction.Social classSocial stratification represents the hierarchical division of members of a societyinto relative levels of prestige, status and power. Social class refers to divisionsbased on economic and demographic characteristics. Those in same stratumhave roughly similar consumption, lifestyle, and income, and socialize with eachother. Nine variables have emerged from the research as most important in


determining socialclass: the economic variables of occupation, income andwealth; the interaction variables ofpersonal prestige, association andsocialization; and the political variables of power, class consciousness andmobility. Most people feel comfortable when they are with people of similarvalues and behavior and limit their social interactions to their immediate socialclass.Possessions are symbols of class membership, with wealth reflected in the itemspurchased. The most important possession decision reflecting a family’s socialclass is the choice of where to live, both the type of home and the neighborhood.Thus, social class will affect what neighborhoods and architectural designconsumers will consider for housing. In addition, housing layouts mustaccommodate the furniture and living style of members of each social class.People trying to move up through the social class structure might choose a houseand neighborhood that they think members of the higher class would choose.In our society we see rural people rarely buy apartment in town they prefer tobuy land in villege. A high class person want to buy an expensive apartment intop residential area. But, comparatively low class people try to buy apartmentwith comparatively low price in general residential area.FamilyThe most influential reference group is the consumer’s family. The family teachesthe consumer cultural values that have a substantial impact upon shoppingbehavior. It continues to be a point of reference even when the consumer hasformed his own household.Family members may be involved in real estate decision making. One membermay influences other members of a fimily to buy or not to buy an apartment orplot. So, family members are the good motivator of a buyer.


Customers’ Perception to the DeveloperCompaniesToday customers have a good faith to the developer companies. They fill that thedeveloper companies realy help them. Developer companies are now make agreat opportunity for people to have an appartment easily. To know aboutcustomers perception, the survey is very important. By conducting our surveywe know the customers parception about their developer companies. Most of theconsumers are satisfied with their developer companies. For example, thecustomers of NPDL belive that their company applied a good architect designand engineering methods and they get the services with afortable rate.Totherdeveloper companies like as Merlid Builders (Pvt.) Ltd. use good row meterialswhich are perfect for the building size and also apply modern architect andengeneering design. Companies are follow earthquake protection building codeto build apartments and use fire alarm system in apartments . The cost of theapartments are in the customers’ purchasing capacity. Some of the customersthing that who have no land in his or her faourate city he or she can buy anapartment from developer company if he or she has enough ability. Customersthink that it is better to hire a developer company to build an apartment on selfowned land than build by one-self.But, some of the customers hae negative perception about the developercompanies because of their sufferings. They sey that all developer companies arenot do the business honestly. They do not provive services properly. Some realestate companies not follow the building code of city corporation, not providefire alarm system. Customers also complain that the developer companies maynot use proper row meterials and used meterials are low quality. Sometime theirlift is too small. These dissatisfactions of the customers are the threat for realestate companies.Dishonesty of one real estate developer company may break down the wholereal estate industry. So, real estate developer companies should be moreconscious about their activities and reputation.


Post Purchase Behavior of CustomersThe behavior after purchase something is called post purchase behavior.Consumers post purchase behavior could be divided into three parts:1. Post purchase Satisfaction2. Post purchase Actions3. Post purchase use.Post purchase SatisfactionSatisfaction is the function of closeness between expectation and productsperceived performance. In this case if the apartment failed to satisfy theconsumer then the consumer will be dissatisfied. If the apartments exceed theconsumers’ expectation then the consumer is delighted. Most of the customerson whom we conduct our research are satisfied with their apartment. In Sylhetdifferent consumers choose different real estate companies, so in this case postpurchase satisfaction varies from customers to customers on the basis of theirpsychology, expectations, and experiences.Post purchase ActionsIf the consumer is satisfied he will talk about his apartment to others and thusother people will be inspired to buy this company’s apartments. Our sample unitis not different from them. If they are satisfied, they influence to buy apartment.This Post purchase Actions are also depends on customer’s psychology,expectations and experiences.Post purchase useThe marketer should monitor that how their product is used. For example, doesthe consumer buy the apartment to live in it or to sell it? It varies from person toperson, some people buy apartments to live in, some to rent it and others to sellit when it becomes more valuable.


Attributes that Create Impression aboutDeveloper CompanyAttribute means - (i) to regard as resulting from a specified cause; consider ascaused by something indicated; (ii) to consider as a quality or characteristic ofthe person, thing, group, etc.Consumers may use the same attributes to evaluate apartment choices, but havedifferent beliefs about the apartment and their ability to satisfy their need.Although both consumers may want a microwave, one may believe that a built-inmodel is too small and will be difficult to replace while another believes thatbuilt-in models can be just as large as a countertop model and will be relativelyeasy to replace.Customers’ attributes are depending on some expectation which can createimprecation about Real Estate Developer Companies. Some of the expectationsare -BudgetA budgeted amount is the expected amount a customer keeps aside. In thissection, we are interested to know the budgeted amount kept by the customersfor the purpose of buying an apartment constructed by a typical real estatedeveloper company. In the survey it was found that maximum number ofconsumers’ (53%) budget for an apartment is 40 – 50 lacks taka. Also, asubstantial number of consumers (26%) have a budget of more than 50 lacks,whereas 21% of consumers’ budget is around 30 – 40 lack for purchase anapartment. If any real estate company’s apartment’s price has gone beyond thebuying capacity of a group of people they will reject the company to buyapartments.


Types of apartmentTypes of apartment are also an important factor in consumers’ preference interms of an apartment. Because there are several types of apartments andconsumers can purchase any type of apartment based on their need, income andbudget. So it is important to find out that which type of apartment is morepopular among the consumers. In the survey it was found that about 57%consumers prefer economy apartment, 25% customer prefer Semi Luxuriesapartment. On the other hand duplex apartment (10%) and luxury apartment(9%) are more preferable to wealthy customers.Preferable Facilities in an ApartmentFacilities of apartment are also an important factor of consumers’ preference interms of an apartment. Facilities are actually design and development relatedfeatures which makes one apartment project different from others and onecompany from other. That’s why it is important to know that which types offacilities are most preferable to the apartment purchaser.Augmented ExpectationCustomers expect a playground, a gymnasium, proper parking area, place forgardening etc. In Sylhet developer companies never fulfill those augmenteddemand, they only fulfill the need for parking but it may not appropriate with thenumber of cars at all.Water and Gas SupplyMost of the customers want regular water and gas supply. Many companiescannot satisfy their customers in this case because of shortage of these elements.How customers determine about qualityMost of the consumers’ are more concerned about quality rather than price. Nowit is important to know how consumers determine or decide on quality or forwhat factors consumers think some apartment is of better quality than others.


Preference between apartment and landMany customers have a dilemma between purchase of an apartment or a land.Some think that purchase of an apartment from a developer company isadvantageous. Some consumers think that purchase of a land and then constructown building is better. But it came out so that majority of the customers, aroundseventy percent prefer purchase of an apartment to a land. The reasonsmentioned were: purchasing apartment has no construction hassle and alsosaves one’s time needed to oversee a construction oneself; Increasing,skyrocketing land price makes it difficult to purchase a land; increased andvolatile price of construction related raw materials is also one reason, that is,once started with a predetermined budget it is difficult to manage with owninvestment. On the contrary 37% consumers prefer purchase a land andconstruct own building. The reasons stated were: Control over asset; proudowner of a land and building; it is a source of income etc.Above are some of the attributes that greatly influence to create imprecationsabout developer companies.LocationIn location selection both customers and real estate companies follow animportant strategy. Companies and customers prefer any important point, a busycity, market area, and side of highway or junction of important roads, popularresidential area etc. to build or buy apartments.Awareness of CustomersCustomers should aware about the developer companies in buying apartment. Acustomer should evaluate the following factors to buy an apartment -

Is the company approved by the government? Old or new established company.


See the company’s previous activities or project. Evaluating their previous projects. Communicate with the companies previous consumers. Observing row materials. Knowing the time length to be completed the apartment, if it wasunder construction. Is the company conducting its business honestly? Knowing the lifetime of building. Is the building designed by an expert engineer?A customer must buy apartment from a reputed company. Buyer should read thedeed and all document of the deal properly and should be clear about hisownership and rights.

ConclusionOur discussion on ‘Real Estate Business in Sylhet’ provides knowledge about realestate companies and businesses in Sylhet, and their customers. A significantportion of the study deals with consumers’ buying behavior pattern, perceptionand attributes.The comparative status analysis the similarities and difference among the realestate companies basis on their types, design and business strategy. Theconsumers’ behavior pattern analysis the factors that drive a customer topurchase real estate assets. Customer perception talks about the customers’beliefs to the real estate companies. Post purchase behavior has discussed thecustomers’ satisfaction and dissatisfaction with their apartments. Attributesestimate the customers’ expectation from real estate companies and their realachievements from the company. It also estimated consumers purchasingcapacity and percentage of various segments. A customer must be aware aboutthe real estate companies while he or she buying an apartment to protect himselffrom loss.


Bibliographyhttp://npdbd.com/abouthttp://merlinbuildersbd.com/new/https://docs.google.com/viewer?a=v&q=cache:LSqtLC7YIbUJ:news.mak.ac.ug/documents/Makfiles/theses/racheal%2520research,Dr%2520Ntai.pdf+background+of+real+state+business&hl=en&pid=bl&srcid=ADGEESheMSg5smbYF9MgwgsAWy2XefZ3Y2bjThJq9PGkPH95tl8DOrw7C_jwKkuBvmRVgZJu5HoA5cOCr6nAol0KK49n0-MD2mBqZnkm8OT3gyK0A_1z1CYLHW95DwxDDbf_drY5KgJX&sig=AHIEtbRn8ziLnhmKx9Sm6VrTsLyg60GChgwww.biggerpockets.com/renewsblog/2010/10/12/4-different-types-of-commercial-real-estate/http://www.royalhomesltd.com/gallery.htmlwww.iiste.org

Developing Country Studies ISSN 2224-607X (Paper) ISSN 2225-0565 (Online),Vol.2, No.2, 2012

Karen M. GiblerAssociate ProfessorStetson School of Business and EconomicsMercer UniversitySusan L. NelsonProfessorDepartment of MarketingBox 8366University of North Dakota

Thank you


Appendix

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Date: _______/______/_________

Questionnaire for CustomersA survey on Developer Companies in Sylhet

Tower Name: __________________________________Address: _________________________________________________________________________________

Respondent Name: _____________________________________________________________________

Age: ____________________________ Occupation: ____________________________________

Apartment No.: _____________________ Family Members: ________ persons.

Head of the family: _____________________________________________________________________

Occupation of family head: ____________________________________________

Customers’ behavior pattern:1. Reason to buy the apartment:2. Why you select Sylhet city to buy an apartment?Answer:3. What amount of money you had to pay for the apartment?Answer: _________________________ lacks / core ________________________ thousand.4. Payment system:Annuity (Amount: _______________________ Number: ____________ of payment.)Monthly quarterly half yearly yearlySingle payment.

Customer’s Perception to the Developer Company:5. Is the developer companies are favorable for the society?YesNo Average No comment6. What is your concept about Developer Company?

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Answer:

7. Are all developer companies conducting business honestly?YesNo Average No comment8. Why you choose this developer company to buy an apartment?Answer:

9. For why you belief your developer company is the best than the othercompanies?Answer:

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Post Purchase behavior:10. Are you satisfied with the apartment?YesNo Average11. Does the company give you better service?YesNo Average12. Can you tell your opinion about your apartment?Answer:

13. What benefits you get from the apartment and the company?Answer:

iv

14. What problems you face after entering into the apartment?Answer:

15. Have your apartments’ any earthquake protection system?Answer:

16. Have there is any emergency exist for the situation of earthquake and fire-raising?YesNo Type: ___________________________________________________

v

17. Is there any instrument to fire prevention?YesNo Type: ___________________________________________________

Attributes that create Imprecation about Developer Company:18. Availability of water supply ;RegularIrregular Average19. Availability of gas supply ;RegularIrregular Average20. What thinks you expect from a developer company related to yourapartment for a good environment?Answer:

21. What things you have get from them?Answer:

vi

22. What is your opinion about the developer company?Answer:

Awareness of Customer:23. When you buy an apartment from a developer company, what things youshould judge?Answer: