Haven't found the Essay You Want?
For Only $12.90/page

The real estate sector Essay


A project is never an individual effort of a person whose name has appeared on the cover page. A successful project requires proper guidance, proper time, energy, efforts, patience and knowledge.

First of all I am deeply grateful to Dr. Manjula Shastri whose help, valuable suggestions, encouragement and guidance helped me in preparation and writing of the report. I want to thank the staff of Piyush Group who spends their valuable time to give me the important data regarding my project. I would also like to express my gratitude to everyone who gave me the possibility to complete my summer internship report.

This Project has given me an insight of the Real Estate Industry and the competition between different Real Estate Group. The completion of the Project has made me aware of the Research Procedures and the complexities that can arose during the process.


In India, Real Estate business is believed to be a sale and purchase of the property on the market with the assistance of real estate brokers/agents. However with the entrant of large Real Estate Groups like PIYUSH, RPS INFINIA, DLF, ANSALS, SIKKA, OMAXE, SUPERTECH etc. the scenario has completely changed. The sector has now become well organized with the groups performing well in the sector. They are well established corporate who have efficient marketing strategy for facing changing democratic and environmental scenario. Liberalization has given the real estate sector a very attractive approach for investment and growth. Moreover government has opened the path to FDI and Public Private Partnership (PPP) for major infrastructural and development projects in NCR. The NCR alone are the core of major real estate activity in India.

Although infrastructure has been hit by rising input costs and delayed approvals, assest prices for residential real estate have recovered and grown over the past two years. The increase in residential assest prices have given to a prospective fizz, causing stagnation over the past two quarters. Various real estate players have the business strategy of capturing major market through their different commercial and residential projects in NCR (areas surrounding Delhi). Therefore cities like Faridabad, Noida and Gurgaon are the best place to live or to invest in it.


Declaration Certificate Acknowledgement Executive Summary

Objective and Scope of the Study
Research Methodology
Company Profile
Current Scenario of Real Estate Business
Growth Prospect of Real Estate Business in NCR
The Major Players of Real Estate Business in NCR
Competitive Analysis


The aim of this summer internship project is the study of Real Estate Sector in NCR with reference to Commercial and Residential Projects and what is it’s over all impact on the changing Indian economy .This project will also put light on a changing trend and new area developing for realtors in NCR region with their price components both launching and pre launching price of the property.

Objective 1:

To study the current project of Piyush Group

Objective 2:

To study the growth prospects of Real Estate Business in NCR. Objective 3:
To understand how one should go about selecting the Real Estate Projects. Objective 4:
To study and do the competitive analysis of Piyush Group


This research is important to prospective real estate investor, students, entrepreneurs and developers who are having stakes in different small and mid size project in NCR. This may be of special interest to marketing students who would like to know more about the practical step- by- step side of marketing world, rather than only the theoretical aspects taught in business schools

Research Methodology

The methodology which was opted for the project is as follows:

1. Description of the Research

This research on will consist of exploratory research as well as conclusive research. It begins with a hypothesis, and to arrive at a conclusion, which includes secondary data as well as information from case data and questionnaire.

2. Data Collection Methods

The Sources of secondary data that are used are
Libraries & resource center
Internet Sites
Books, News papers, Magazines & Journal
Trade promotion council & Organization
The method of primary data collection is
Direct Interviews

3. Field work

The fieldwork in this project consisted of data collection through taking the interviews and getting the questionnaires filled up.

4. Analysis

Finally interpretation will be drawn from the analysis of the information gathered

Primary Data
Secondary Data
Analysis and Findings of Data


Real Estate is often inaccurately taken as a profession. However Real Estate is a business, not a profession. Profession applies science, act or learning to the use of others, the profit to the professor or person applying it being incidental while business is engaged in making profit and the profit is to the one who is engaged in the business. But whether real estate is a business or a profession has no connection at all with the body of ethics governing it. Every business can be conducted upon a plane ethically as high as the ideals of any profession, and the men who have been conspicuously successful in the real estate business have attained success because they have applied to their business the highest ideals of commercial fair dealing. This does not mean that there is any ethical requirement for the seller or the purchaser to give away anything which belongs to him, or for either one to disclose to the other his necessity for selling or his requirements for buying; but the bargain having been made, it is absolutely necessary that it be lived up to by both parties, according to its intent; and, if there be any doubt of the intent of the bargain as it is expressed in writing, that the spirit of the transaction be carried out rather than that the catch words of a written instrument should govern.

Cases are frequent of men who to their own detriment perform the thing which they have promised to do although not legally obligated, and the bigger and more successful the man who makes the promise the more surely will it be carried out. Important obligations are often incurred upon the mere promise of a well-known man to sell an important piece of property at a definite price, although no legal and enforceable obligation exist; and the promise is always redeemed if it is made by a man who knows the business, and it is redeemed not merely from altruistic motives, but also for purely business reasons. Divisions of the business.—the principal divisions of the real estate business are investment, operation and agency. These differ from one another according to the aims of the persons engaging in them and the methods by which those persons expect to make their gains.

To conduct either of the first two divisions of the business, investment or operation, actual money capital is required. The most important capital in the agency business is the good will of its customers, and that can be marketed, increased and made very valuable for investment. Investment is the employment of capital in the acquisition of real estate or interests therein for permanent ownership or actual use of the person acquiring it. Operation is the employment of capital in the acquisition or improvement of real estate or interests therein for commercial operations. Agency is dealing in or with real estate on behalf of others. Investment in real estate is generally made for either of two purposes :

(a) To derive an income,

(b) To hold for resale in expectancy of an increase in value. Investment for income may be for one of two purposes,
(1) The derivation of rental—that is, the direct return for the use of real property for definite periods, or (2) The obtaining of income through others upon money lent on the security of real property.


Piyush group has ventured into a wide range of aspects of Real Estate and construction. In the Indian real estate state of affairs, Piyush Group is indulged in development of Integrated Township, Group Housing Projects, and Commercial Mall. In the world of Piyush Group people get to enjoy the Harmony of Nature, the culture and the people together.

Piyush Group is a diversified group with a major presence in real estate development, construction and financial services. This group, has over two decades of experience, a strong technical base and financial standing was accorded the ISO 9001: 2000 certification. A recognition of it’s focus on international standards. Time bound delivery and top level quality is synonymous with this group which has a projected turnover of US $ 450 million.

From integrated housing projects to commercial projects to business parks, Piyush group has ventured into various facets of real estate and construction. In the Indian real estate scenario, Piyush Group is involved in development of Integrated Township, Group Housing Projects, Commercial mall cum Multiplexes, Educational Institutions, Corporate and IT Projects.

In Piyush Group, where the vistas are endless, we stands beacon like, leading the way and in the process make an effort to change the way people dream about their homes and establishments.

Piyush Group visualizes a project in every major city of the National Capital Region (NCR). Residential Projects on the anvil include Integrated Townships in Palwal and Bhiwadi and a world class Group Housing Project (Piyush Heights) is under speed development spread over 17.5 acres (approx.) located at Sec 89, Faridabad. Commercial projects including Upcoming Business Park & Global i being designed by the renowned architect Hafeez Contractor located on Mathura Road, Faridabad. With plenty more in the offering Piyush Group stands for it’s motto ” To deliver quality beyond ones expectations.

Core Strength

The core strength of Piyush Group is its experience professionals who bring in unique mix together of business and technology skills that help the group to know business issues and opportunities and to achieve measurable output. In a very short period Piyush Group has made a mark. This achievement that Piyush Group has achieved is actually the sources of inspiration which keeps them going. The motto of their growth is to deliver quality beyond ones expectations and consider in keeping intact the “essence of life” as growth.

Professionalism and awareness to detail, right from planning to implementation is an in-built quality of the entire team of qualified professionals that make up the most valuable resource of Piyush Group. Efficiency and Integrity is the keystone of this organization where energy of youth rubs shoulders with wealth of experience reflecting the creativity and progressiveness of the organization.

The main strength of Piyush Group is their highly qualified and seasoned professionals, experts and advisors. They have an approach to provide real estate solutions sterns from pure professionalism, through knowledge of market trends, technical knows-how, utilization of world class construction methods and equipment. Piyush Group wealth is a rich vault of experience which grows with each new project implemented. Dedicated to details the gtoup covers every inch from planning to implementation to after sales. And periodically invest in research and development to keep updating the knowledge of consumer insight, technology and construction for an unmatched leverage in forecasting and planning for the future with hallmarked quality projects that meet expectations in designs, amenities and convenience.

The efforts have earned the group recognition for international standards, globally.

Vision & Mission


Piyush Group foresees to transform dreams into reality. Its vision is to create residential and commercial establishments across all stratum of society and eventually facilitate to excel in the essence of life! The endeavor is to develop the lives and aspirations of people and enhance their quality of life and work.


To regenerate the “essence of life”
To provide to customers’ needs of today and to percieve and provide for tomorrow’s needs. To provide value for money & high returns on investment.
To focus on strategic growth through existing and forthcoming projects. To stick on to internationally accepted benchmarks in real estate development and construction

Principles & Guidelines

The Essence of Life: The core fundamental principle that governs our endeavors. And which simply defined translates into following: To formulate a cohesive effort in improving and inspiration of people. To provide to the needs of today to predict and provide for the needs of tomorrow. To give value for money & high returns on investment.

To support the virtues of transparency in dealings, honesty and integrity. To build long lasting relationship with business partners, clients and customer. To generate innovative real estate projects via a unique blend of business acumen, technology skills. To deliver the epitome of high quality on a timely basis.

To our customers before our projects and not vice versa.

Piyush Group Projects

Group Housing – Piyush Heights

Commercial – Piyush Business Park, Piyush Global I, Piyush Mahendra Metropolitan Mall Group Housing

Group Housing

1) Piyush Heights:


Envisaged as an amalgam of world class infrastructure and aesthetic environs – this Group Housing project spread over 17.5 Acres (approx.) located at Sec 89, Faridabad offers a combination of 1086 apartments. Facilities like a fully equipped gymnasium, clubhouse, swimming pool, etc. are luxuries that come with the offering. This residential complex promises peace of mind with it’s hi-tech security, power backup and still parking space.

Salient Features
Being designed by leading architect M/S R.K Associates
Green Area
Exotic Landscaping and open area
Provision for visitors Car parking
Surrounded by Prominent Educational and Health Care institutes Building Design for earthquake resistance
Parking in stills and open

Why to invest

One of the most talked about project in Faridabad.
It is situated in the Heart of Greater Faridabad; only 5 minutes drive from proposed Noida express way. Nearly 8 kms from South Delhi

Best of the amenities being provided at a very competitive price Bank loan facility available
Lot of corporate houses employs have also invested in our project

Bank Loan facility Available from: Can Fin Homes Ltd (sponsored by canara bank), Duestsche Bank, DHFL

Commercial Projects

1) Piyush Global I


A symbol of dynamism and growth, Globai I is a world-class IT Project at Faridabad. From an incredible architectural style to the breathtaking views outside, working here in intended for people who seek to be associated with a vibrant community of like-minded individuals. Its hi-tech offices exude sophistication and elegance, and provide a fitting ambience for those who enjoy being in the midst of all the action. Stay ahead of competition. Work better. Meet deadlines earlier. Make smooth transactions a daily routine. And to its end, Global I offers varied infrastructure which makes all this easily possible.

Salient Features

Centralised Air conditioning (Bluestar)
12% assured return on investment
Strategically located at the Main NH-2
Total area of 3, 50, 000 sq.ft. (Approx)
Designed by the renowned architect, Hafeez Contractor
Proximity to the upcoming metro station .
Only 20 minutes from the proposed Noida Expressway
25 minutes drive from Delhi*
Hassel-free working environment
Health Club Spa
Centralised RO water supply
3 level basement parking
Designed on the pattern of environment friendly & green building NH-2 going to six lane soon
IMT Faridabad is just 5 min drive
Approx. 1km drive from Commercial sector -12

2) Piyush Mahendra Metropolitan Mall (Commercial Project)


A Joint venture with Sh. Mahendra Pratap Singh (Cabinet Minister – Haryana Govt.) The world of fashion brands cuisines beckons you, now bigger and better. Piyush group presents a magnificent investment opportunity in the industrial city of Faridabad, The MetropolitanMall.

Designed to be the finest corporate and retail destination, The Metropolitan Mall is perfect for those who wish to invest in this booming real estate market

Salient Features

Centrally air-conditioned
Electrical Lighting System- Remote Controlled
Heat reflective glass to reduce air conditioning costs
Specifications as per international standards
Designed as per Vaastu & Feng Shui
24X7 security systems with CCTV
Two level basement parking
Fire Detection & protection system.
An ambience of multi specialty Cuisine Food Court .
Piyush Mall is surrounded by artfully landscaped natural green environment. Situated in heart of Residential area
Very good location as NIT and other residential area is nearyby

3) Piyush Business Park


A new era in the Business World , Piyush Business Park is being designed by the world-renowned Architect Hafeez Contractor. Piyush Business Park has architectural marvel in glass and steel will be spread over an area of 2 lakhs sq. ft (approx.). and will be located on the Main Mathura Road, NH-2, Faridabad as figured in the road map displayed below. This business location promises to be the destination of corporate and business houses and will be an amalgam of serenity and modernity.

Piyush Business Park, a new ultra modern design of architecture consists of eight floors surrounded by artfully landscaped greenery with common basement two level parking for nearly three hundred vehicles. It will house MNC’s like Insurance, Banking, FMCG, Consutling IT/ITES etc. The platforms and infrastructure supporting services are being carefully engineered and designed to provide the best quality of service at the highest levels of availability and in harmony with customer expectations and global standards. Quality construction material is being used which includes tiled floor finishes, stone countertops throughout the area. Piyush Business Parks will thus provide the most extensive and comprehensive portfolio of structured connectivity solutions available in the market today.

Salient Features

Electrical Lighting System- Remote Controlled.
Heat reflective glass to reduce air conditioning costs.
Specifications as per international standards.
Designed as per Vaastu & feng Shui .
Hi-Tech commercial arena and world class futuristic amenities. 24X7 security systems with CCTV.
Two level basement parking.
Fire Detection & protection system.
An ambience of multi speciality Cuisine Food Court.
Business Park Surrounded by artfully landscaped natural green environment. Dedicated space for auto car showroom
Proposed Metro connectivity
NH-2 going to six lane soon

Current Scenario of Real Estate Business

The crucial sector of our economy is the real estate sector as it has huge multiplier effect on the economy and therefore it is known as the big driver for economic growth. After agriculture, real estate sector is the second largest employment generating sector. It is growing at a rate of about 20% per annum and this sector has been contributing about 5-6% to India’s GDP. Apart from generating a high level of direct employment the sector also stimulates the demand in over 250 ancillary industries such as cement, steel, paint, brick, building materials, consumer durables and so on. Since 2005, the Indian real estate industry has been on a roller coaster ride. There has been a boom in investment and developmental activities after the government’s policy of allowing Foreign Direct Investment (FDI) in real estate sector.

The sector has witnessed the entry of many new domestic realty players and also the arrival of many foreign real estate investment companies including private equity funds, pension funds and development companies entered the sector lured by the high returns on investments. The real estate sector has also been through many highs and lows. The industry achieved new heights during 2007 and early 2008. In beginning of 2007, there was formidable growth in demand, substantial development and increased foreign investments. However, by mid 2008, industry took a ‘U’ turn due to the global economic slowdown and inflow of FDI into real estate dropped significantly which at one point of time was seen as one of the most promising markets for foreign investments experienced a downturn.

Financial Support to the Sector

FDIs attracted by the housing and real estate sector in the Financial Years 2007-08, 2008-09 and 2009-10 are 8.9%, 10.3% and 11% respectively, of the total FDI in India. However the financial year 2010-11 there was sheer 6% FDI in the sector. In the year 2010 the Indian real estate sector regained its charm after the darkness and recessionary pressures experienced in the year of global downturn. With the aim of focussing on ‘affordable housing’ the sector has crunched the financial downturn it has experienced. The sector still has the huge potential to attract FDI in its various segments.

The focus on ‘affordable housing’ helped the sector tide over the financial crunch it had witnessed. There is no doubt that the sector holds huge potential to attract FDI in its various segments. The real estate sector requires joint support from both industrial sector and the Government to make further progress. On the one hand, the industry should work towards increased transparency, clear land titles, improved delivery and project execution while on the other hand the Government must provide fiscal incentives to developers to build low cost and affordable housing for the masses and also review the existing FDI guidelines for investment and development in Indian real estate so that there can be an increase in the flow of foreign capital into the sector.

Challenges faced by the Real Estate Industry

The challenges that are faced by Indian real estate industry are as follows: Lack of clear land titles,
Absence of title insurance,
Absence of industry status,
Lack of adequate sources of finance,
Shortage of labour,
Rising manpower and material costs,
Approvals and procedural difficulties.

Traditionally Real Estate sector was unorganized nowadays it is slowly evolving into a more organised one as the sector has started embracing professional standards and transparency with open arms. The Indian Real Estate sector has both majorly established domestic players and international players. Some of the examples of the major established domestic players in the sector are DLF, Unitech, Hiranandani Constructions, Tata Housing, Godrej Properties, Omaxe, Parsvanath, Raheja Developers, Ansal Properties and Infrastructure and Mahindra Lifespace Developers Ltd to name a few. International players like Hines, Tishman Speyer, Emaar Properties, Ascendas, Capitaland, Portman Holdings and Homex have made a name for themselves in India.

The Road Ahead

Since real estate reaching a point of saturation in developed countries and the demand and prices falling, global real estate players are looking at emerging economies such as India for tapping opportunities in real estate. Therefore Indian Real Estate Sector has a huge potential of consistent FDIs. As India has strong economic fundamentals and demographic factors so Indian real estate will stay attractive and also there is a high level of global uncertainty looming over the developed and developing nations of the world.

Developed economies are still struggling to regain their growth momentum which will allow developing countries including India and China to grow at a reasonably high rate. The opportunities in Real Estate sector in coming years will also help to attract global players to India and hence will assist the industry to mature become more transparent, improve management and adopt advanced construction techniques (Link 1).

Growth prospect of Real Estate Business in NCR

Real Estate business in NCR which is witnessing a setback these days will regain its lost momentum with the boost in the economy. Government is taking measures to capitalize on the capabilities of the real estate and infrastructure sector by supporting the private public partnership (PPP) model not only to boost the infrastructural activities in NCR also to bring back growth and to deliver to its citizens. The strategy involves contributions from public and private sector which will revamp the city’s environs. NCR is seemed popular as an investment destination as the destinations like Connaught place is emerged as the fourth costliest commercial office market in the world. Moreover the rental values in central business district (CBD) rose by 20 percent in one year mainly due to lack of availability of quality space, no new supply prevailing high demand.

Commercial activity apart from Delhi CBD is mainly concentrated in the prominent locations of NCR (mainly in Faridabad, Noida and Gurgaon) enjoys superiority as a choice of business destinations. In addition to above, the new and the upcoming corridors along Gurgaon and Noida like Yamuna Expressway, Noida Expressway, Dwarka Expressway have led to tremendous increase in the Real Estate Projects both commercial and residential from all major real estate groups in the past few months and will continue to attract more players of real estate. The other major corridors like Faridabad-Noida-Gurgaon (FNG) Expressway, Southern Peripheral Road and Kundli-Manesar-Palwal Expressway are seeing prominent real estate projects developments and their popularity will also lead to more investment in NCR.

Capital value of the residential realty market has also increased due to factors like amenities, travel time to commercial districts, connectivity to various parts of the city and quality of public transport and infrastructure. There has been 14 to 29 percent appreciation in residential property market of South-East Delhi, South-Central, Gurgaon and Faridabad in a year. Rent is also showing stability across all markets in the last quarter (Link 2). Why Faridabad has a Greater Scope for Realty development

Faridabad, an industrial hub of Haryana, is now considered one of the best bets for safe living in the NCR. With improving infrastructure, Faridabad has transformed into a booming economic warehouse, and, a recent study has projected this old industrial city as the country’s ‘city of the decade 2011-21 ‘ (Link 3).

(1) http://www.ficci.com/sector/59/Project_docs/real-eastate-profile.pdf (2)http://articles.economictimes.indiatimes.com/2013-04-05/news/38306514_1_realty-market-noida-expressway-dwarka-expressway (3)http://articles.economictimes.indiatimes.com/2012-09-01/news/33535418_1_ncr-cities-service-industries-medium-and-large-industries

Essay Topics:

Sorry, but copying text is forbidden on this website. If you need this or any other sample, we can send it to you via email. Please, specify your valid email address

We can't stand spam as much as you do No, thanks. I prefer suffering on my own