gufran ahmad

7/30/2019 Gufran Ahmad

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A SUMMER TRAINING PROJECT REPORT

ON

CUSTOMER BUYING BEHAVIOUR

For the partial fulfillment of Master of Business

Administration Program

UNDER THE GUIDANCE OF

Mrs. PRIYA SRIVASTAVA

(Faculty MBA)

SUBMITTED BY

IQBAL ZEESHAN

MBA III SEM

B.N.COLLEGE OF ENGINEERING & TECHNOLOGY,

LUCKNOW

(Affiliated to GBTU)


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ACKNOWLEDGEMENT

Like most effective endeavors, preparing this project was a collaborative effort. I owe a great debt to

many individuals who helped me in successful completion of this project.

I would like to express my sincere gratitude to HDFC REALTY. for giving me an

opportunity to complete my summer internship program in their esteemed organization.I would not have completed this journey without the help, guidance and constant support and co-

operation of certain people who acted as guides and friends along the way. I would like to express my

deepest and sincere thanks to Dr. UPAMA MISRA (Director, B.N. College of Engineering &

Technology), Dr. Vinitendra Pratap Singh {H.O.D, M.B.A Department} and Mrs. PRIYA

SRIVASTAVA for their invaluable guidance and help. The project could not have been completed

without their support and guidance.

In this connection I would like to express my gratitude to my parents and friends who were constant

source of inspiration during my summer training project report. At last I thank to Almighty for giving me

the power to complete this project successfully.

IQBAL ZEESHAN

MBA II YEAR


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PREFACE

As a part of MBA curriculum summer training was undertaken with HDFC

REALTY one of the biggest and fast emerging real estate company in Delhi (NCR)

region. It has set new trends and benchmarks of architectural excellence in the

contemporary global scenario.The summer training was for 8 weeks ( 2 months ) duration .The purpose of this

training was to have practical experience of working in an organization and to haveexposures to various management practices in the field of marketing. The blend of

learning and knowledge acquired during my practical studies at the company and

in the field is presented in this Project Report.

During the Training (Customers Survey) project was assigned for having practical

exposure.

This report is an attempt to identify the competitive strategies and methods used to

create value and awareness in the minds of target customers. And also to identify

competitive strength of HDFC REALTY projects with its major competitors like

Amrapali Group, Gaur sons India Ltd., Ajnara group etc.

The Project Report starts with the history and details of HDFC REALTYand also

covers the general information about the company and its functional department of

marketing.


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EXECUTIVE SUMMARY

This project report is prepared as the partial fulfillment of two year M.B.A of

BNCET Lucknow. This Research project is a compulsory part of the academics.

This research is done after the completion of 1st year of PGDM program.

In this research, I have attempted the research about consumer buying behaviour at

hdfc realty. Dealing with competition is one of the key elements of modern

marketing management (Kotler, 2000).The overall purpose of this research is to

identify the factors which influence consumer buying behaviour of HDFC

REALTYin Lucknow extension. The whole research is based on customers

survey. I have done research on impact and effectiveness of our values which we

are providing to our customers, which is one of the major tool used for analysing

competition in the market.

This report is an honest work towards the topic. There can be many short

comings in it because of the lack of the time, unavailability of data and other

constraints.


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INTRODUCTION

Real estate is a 12$ billion (revenue) industry in India. There has been a rapid

growth in the industry in the past few years. In the residential sector, a growing

middle class is enjoying rising income levels. Combined with smaller household

sizes, this demographic change has boosted demand for more modern housing and

home loans. Meanwhile, increasing consumer spending power has encouraged

growth in organized in organized retailing both feeding off and contributing to

the spear of mall culture and the popularity of other large-scale retail property

developments.

In the commercial property segment, strong growth in the services sector

particularly in the IT and ITES sectors and corporates growing scale of

operations have led to greater demand for commercial space, including modern

offices, warehouses and lodging space.

Many Developers have substantial plans to increase both their size and

geographical spread. They are also expanding into different kinds of properties,

which can boost the firms franchise values and reduce concentration risks.

However, managing and financing such activities can be a challenge, and puts a

premium on financial flexibility, capital access and operational infrastructure.

The project assigned to me has an objective to find and analyze the current

scenario of Real Estate, covering the preferences of current as well as prospective

customers. The major part of the project also analyses the size of investment in

various states and mind set of the customers regarding this as well as the

perceptions of customers towards major leading Real Estate players.


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The study was carried out with a methodology, in order to collect as much primary

data as possible. Data was collected by getting the questionnaires filled from Real

Estate Agents across Lucknow.

Once the data was collected, this data was analyzed using Microsoft Excel as a tool

and various conclusions were drawn. This analysis is depicted in the form of

various charts and graphs. Along with the questionnaires, Agents viewpoints on

various issues were also taken in order to get a more insight into the Real Estate.


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INTRODUCTION TO REAL ESTATE

Real estate is a 12$ billion (revenue) industry in India. There has been a rapid

growth in the industry in the past few years.100% FDI is allowed in real estate

development subject to minimum scale norms of either: 25 acres in case of

serviced plots or integrated townships; or 50,000 sq. mtrs. of built-up area for

construction development projects.

Commercial and office complexes mushrooming in major Indian metros present a

minefield of opportunities. Over 20 million new housing units required in the next5 years. The real estate market is projected to grow to $50 billion by 2010 CAGR

of over 30% p.a. is expected over the next five years. Increasing demand for

commercial and office space especially from the rapidly growing Retail, IT and

Hospitality sectors and the Urban Infrastructure Renewal mission is expected to

give a boost to the sector.

Other factors include:

$11.5 billion earmarked over the next five years for 60 cities. Investment opportunities exist in almost every segment business ; About 20

million new units expected to be built in five years in office space for IT andfive-fold increase in office space requirement over the next 3 years.

Commercial space for organized retailing: 200 million sq. ft. by 2010.Hotels and hospitality: Over 50,000 new rooms in the next 5 years;

Investment opportunity of over $50 billion in the next five years.


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Various Real Investment Options are:

AGRICULTURE LAND

Agriculture Land in India is the most protected area by the State and Central Govt.

Identification of Agricultural Land requires a bit of analysis about the rate and

assessment of future development in the nearby area. Due to fast growing

urbanization and development of infrastructure the price of agriculture land zooms

quickly. Agricultural land can be given on contract to cultivators with sharing of

crop model, to make small but regular tax-free earnings. Rural agriculture land is

completely free from capital gains tax and income from lease out or sale of crop is

also exempt as per the provision of IT Act, 1961.

Real Estate

Investment Options

Agriculture Land

Residential/Plotteddevelopment

Apartments/Villas

Commercial Spaces

Farm Houses

Real Estate Mutual

Funds


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RESIDENTIAL PLOTTED DEVELOPMENT

Most state governments have loosened their fists and have implemented land

reforms that make the conversion of agricultural land into residential land much

easier. The process of township development takes a period of about 5 to 10 years.

Initially, the prices of plotted development are quite low which rapidly increases

with the pace of development and with the rise in inflation factor.

APARTMENTS/VILLAS

As per the assessment made in the Indian Habitat Policy 1998, the demand for

houses in urban area is to the tune of 22 million houses. The gap in demand andsupply in housing stock has thrown big investment opportunities. Booking at the

launching stage and getting the exit at the completion stage ca offer shining returns

on investments. In this process the stamp duty and other taxes can be legally

avoided.

COMMERCIAL/RETAIL SPACES

The retail boom in India has fueled huge demand for commercial/shopping spaces.

Many MNCs and big corporate retailers prefer to take prime commercial

properties on long-term lease basis. The option offers regular returns besides

appreciation in capital value, taking both the returns together gives handsome

return and a wonderful combination of regular and a wonderful combination of

regular and long-term returns.


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FARM HOUSES/SECOND HOMES

Many developers are offering lifestyle with smart returns through farm

houses/second homes. The offer comprises of sale of farm houses at affordable

rates with professional property management giving lifestyle and capital

appreciation together.

REAL ESTATE MUTUAL FUNDS

Securities Exchange Board of India (SEBI) has recently allowed the launch of

mutual funds which can invest in physical property. Many corporates such as

HDFC and IDBI are in the process of launching real estate mutual funds.


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FACTS AND FIGURES

In India Construction is the second largest economic activity after Agriculture.

Investment in construction accounts for 11 percent of Indias Gross Domestic

Product (GDP) and nearly 50 percent of Gross Fixed Capital Formation (GFCF).

Construction accounts for nearly 65 percent of total investment in infrastructure

and is expected to be the biggest beneficiary of the surge in Infrastructure

Investment over the next five years. According to the Economic Survey, India hasthe potential to absorb US$ 150 Billion of Foreign Direct Investment in the next

five years in the Infrastructure sector. The sector is expected to grow at a CAGR of

15 percent over the next few years.

The sustained growth and positive outlook for the future has increased focus on

Infrastructure development. Opening of the Infrastructure development to private

players, FDI and increased investment commitments from the govt. has thrown a

host of opportunities for companies in the infrastructure development sector,

innovative projects like the metro Rail and Sky Bus, along with the proposed SEZ

projects have provided additional opportunities for the SMEs in the sector. While

majority of the infrastructure development projects are given out by the

government Agencies, the private sector is also actively participating through

development projects like SEZs and commercial construction.


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Along with the government bodies and funding agency, various infrastructure

development companies, machinery and materials suppliers, ancillary suppliers

and allied support industries would play an important role in meeting in demand

the for infrastructure development.

The Indian Infrastructure Sector is currently going through a vast transformation.

The Governments decision to throw open the construction of roads, Bridges

Airports and ports to the private sector and allowing 100 percent Foreign

Investment in real Estate Projects has provided a boost to the construction Industry

as well as generate demand for construction machinery. Housing and Infrastructure

Projects like Roads, Bridges and Ports are expected to grow about 20 percent per

annum for the next 15 years.

The new and expanding housing and infrastructure construction ventures have

generated substantial demand for construction machinery manufacturing and

servicing, including erection, commissioning and maintenance. Several multi

national firms are already present in the country.


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REAL ESTATE AS AN INVESTMENT OPTION

Is Real Estate A Good Investment Option?

Are you fatigued by the diminishing income and risk-factors associated with main-

stream investment avenuesfixed deposits, stocks, mutual funds, etc.? Think `real

estate': a lesser explored investment option.

Why real estate investment stands out?

Quantum of investment required is high

Investment horizon is long

Dual returns are available in form of rental income and capital

Appreciation

What are the promising avenues of real estate investment?

Offices

Shopping malls

Retail outlets

Industrial warehouses

What is the current Indian real estate scenario?

Periodic returns on commercial property ranges from 10 to 13 percent

Per year


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The Indian real estate industry has a growth rate of 35 to 40 percent

Annually

The demand for real estate is picking up as the IT industries set up their

Base in India or look for expansion in these cities.

Top financial companies have recognized the advantage of India as a

Business process outsourcing destination and had started expanding

their business.

Companies are increasingly switching over to renting office premises.

This offers flexibility in operations and avoids locking capital.

Companies operating in automobile design, auto components

Manufacturing, computer aided design and drawing are also entering

India in search of acquisition of space preferably as ready-to-occupy

premises.

Real estate developers are offering premises on long lease to the

companies.

Individual investors are benefiting from the developing commercial real

Estate market in India by investing in pre-leased properties.

Norris / Pies are investing in real estate as the rental income and capital

Used to purchase the property is easily reparable .


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What are funding sources supporting investment in real estate?

Banks

Financial institutions

High net worth individuals

Real Estate Mutual Funds

What are the procedures to be followed before investing in real estate?

Find out credibility of the developer.

Check out the attractiveness of property to tenants/ buyers

Weigh future value potential

Get to know the chances of project completion (in case its under

Construction)

Investigate the quality of project

Explore the availability of financing option

Take advice from a reputed and a credible real estate consultant.

Consult a reputed financial institution

Selecting a right option to invest hard earned-money is always a matter of big

confusion. The decision making process requires in depth analysis of available

options which suits the needs of a particular person or organization. A complete


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analysis and overview of investment decision making with innovative solutions

are given hereafter.

INVESTMENT NEEDS

The investment needs depend on the requirements of a particular person about

the liquidity of funds and his capacity and temperament bear risk. The tax

implication on return of investment to the investor is always a crucial matter for

choosing the right option.

FACTORS AFFECTING INVESTMENT DECISION MAKING

After TaxROI

Tax

Implication

Convenience

To Invest

Safety

Liquidity


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INVESTMENT OPTIONS:

The following are the major options available to the investors:

All the options have different features with respect to various factors having

implication on investment decision making. The following Chart depicts the

analysis of features of various options at a glance:

*based on prevailing market rates

**based on last 25 years track record

PO/Bank/Govt.Securities

Bonds/Debentures

Bullion (Gold/Silver)

Shares/Mutual Funds

Real Estate


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Comparative Features of


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Features

Options

Liquidity

Options

Safety Convenience

Tax

Benefits

Approx.

ROI

P.O/Bank/Got.

Securities

Reasonabl

e

Good Good Good 6-8%*

Bonds/Debentur

es

Reasonabl

e

Reasonabl

e

Reasonable NIL 8-10%*

Shares/Mutual

Funds

Good High Risk Reasonable Reasonabl

e

12-15*

{With high

level of

uncertainty

}

Bullion[Gold

and Silver]

Good Good Good Reasonabl

e

5-7%**

Real Estate Reasonabl

e

Reasonabl

e

Not so

Convenient

Good 14-24%

{High

Returns}


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GRAPH ON RETURN ON DIFFERENT INVESTMENT OPTIONS

REAL ESTATE AS AN INVESTMENT TOOL WITH SPECIFIC REFERENCE

TO RAJASTHAN

Population (2001 Census)

5,65,07,188

Urban population

23.38%

Literacy rate - 61.03%

Male - 75.7%

Female - 43.9%

0

5

10

15

20

25

30

PO/Bank/govt.se

c.

Bond/Deb.

Shares/Mutual

Fund

Bullion(Gold/

silver)

RealEstate

% from

% to


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Major industries

Mineral based Agro based Heritage based

Rajasthan at a glance

Abundant availability of minerals.Open & responsive GovernmentProximity to Gurgaon & Delhi, which are now getting saturated.


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Relatively better law & order scenario as compared to many other States inNorth India.

Very good living conditionsGood civic infrastructure

Residential, Educational and Medical facilities.

Road, Power and Water.

Avenues for re-creation and tourism.

Recent emphasis on technical manpower will yield results in near future.Easy access International Airport (Direct flights to Thailand,Singapore,

Dubai).

Continuously improving telecommunication infrastructure as a result of FreeRight of Way facility.

Strong focus now on Knowledge Sector at the highest level in StateGovernment.

Jaipur: A Magnificent Metropolis in Making

Salient Features of Jaipur Master Development Plan-2011:

Master Development Plan 2011 has been prepared not only to meet the future

requirement of the city and the region but also to tackle the day to day

problems of the city.

Jaipur is a fast developing city. By 2011 population of Jaipur is expected to


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reach about 42 Lacs. The plan has been prepared to accommodate about 35

Lacs in the city & the remaining seven lacs in the satellite towns of Chomu,

Bagru, Bassi, Achrol, Shivdaspura, Goner, Balawala, Jamwaramgarh, Kanota

and Kakus etc.

Jaipur is a tourist city. The plan provides for conservation and preservation of

its architectural heritage and to augment tourist facilities.

The land use plan along with the land use zoning code facilitates easy

implementation of the master plan proposals.

Mega Projects in Pipeline :

Mahendra City (S.E.Z) on Ajmer Road3000 Acres

World Trade Park

Film City

IT City

Knowledge Corridor

Ring Road

Gems and Jewelry Market

Rope-Way

Medi-Tech City

Proposed Projects:


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International Convention Centre

Sports City

Green field Airport

International Golf Course

DYNAMICS OF REAL ESTATE PRICING

The Interest rate factor has a direct relationship with the pricing of the immovable

property. Future properties are discounted by the market at a particular rate of

discounting factor to calculate the present market value, when the discountingfactor reduces by few points, the prices of immovable property increases many fold

as the present value of the future property gets increased.

The following chart shows the present value of Rs.1000 after 1 to 15 years. The

chart clearly shows that present value of Rs.1000 after 15 years discounted @ 20%

is Rs. 65, while if the same is discounted @ 10% the present value comes to Rs.

239, it is amazing to note that 50% (from 20% to 10%) curtailment in interest ratesincreases the present value from Rs. 65 to Rs. 239 reflecting a jump of 267%. This

dynamic works in future property pricing.

CASE STUDY TO UNDERSTAND THE DYNAMICS OF REAL ESTATE

PRICING

Year 2000

Belief: Agriculture Land in Shivdaspura is a future property of 2015 and at time

the price level shall be Rs. 50.00 lakh per bigha.

Discounting factor: 20%


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Present Value (PV) in the year 2000, of Rs. 50.00 lacs in years 2015 was 50.00

lacs0.065* = 3.25 lacs ** approx

*

*Discounting factor of Rs.1 after 15 years @20% p.a.

**The same was the approx. then prevailing price.

Belief: Agriculture Land in Shivdaspura is a future property of 2015 and at time

the price level shall be Rs. 50.00 lack per bigha.

Discounting factor: 10%

Present Value (PV) in the year 2006, of Rs. 50.00 laces in years 2015 was 50.00

lacs0.424* = 21.20 laces ** approx

*Discounting factor of Rs.1 after 9 years @ 10% p.a.

%/ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Nyrs.

10% 909 826 751 683 621 564 513 467 424 386 350 319 290 263 239


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REAL ESTATE IN WORLD

A real estate bubble or property bubble (or housing bubble for residential markets)

is a type ofeconomic bubblethat occurs periodically in local or globalreal

estatemarkets. It is characterized by rapid increases invaluationsofreal

propertysuch ashousinguntil they reach unsustainable levels and then decline.

The questions of whether real estate bubbles can be identified and prevented, and

whether they have broadermacroeconomicsignificance are answered differently

byschools of economic thought, as detailed below. Thefinancial crisis of 2007

2010was related to the bursting of real estate bubbles around the world, which had

begun during the 2000s

Identification and prevention

As with all types ofeconomic bubbles, whether real estate bubbles can be

identified or prevented is contentious. Bubbles are generally not contentious

inhindsight, after a peak and crash.

Withinmainstream economics, some argue that real estate bubbles cannot be

identified as they occur and cannot or should not be prevented, with government

and central bank policy rather cleaning up after the bubble bursts.

Others, such as American economistRobert Shillerof the Case-Shiller Home Price

Index of home prices in 20 metro cities across the United States, indicated in May

31, 2011 that a "Home Price Double Dip Confirmed" [3]and British magazineThe

Economist, argue that housing market indicators can be used to identify real estatebubbles. Some argue further that governments and central banks can and should

take action to prevent bubbles from forming, or to deflate existing bubbles
http://en.wikipedia.org/wiki/Economic_bubblehttp://en.wikipedia.org/wiki/Economic_bubblehttp://en.wikipedia.org/wiki/Economic_bubblehttp://en.wikipedia.org/wiki/Real_estatehttp://en.wikipedia.org/wiki/Real_estatehttp://en.wikipedia.org/wiki/Real_estatehttp://en.wikipedia.org/wiki/Real_estatehttp://en.wikipedia.org/wiki/Real_estate_appraisalhttp://en.wikipedia.org/wiki/Real_estate_appraisalhttp://en.wikipedia.org/wiki/Real_estate_appraisalhttp://en.wikipedia.org/wiki/Real_propertyhttp://en.wikipedia.org/wiki/Real_propertyhttp://en.wikipedia.org/wiki/Real_propertyhttp://en.wikipedia.org/wiki/Real_propertyhttp://en.wikipedia.org/wiki/Househttp://en.wikipedia.org/wiki/Househttp://en.wikipedia.org/wiki/Macroeconomichttp://en.wikipedia.org/wiki/Macroeconomichttp://en.wikipedia.org/wiki/Schools_of_economic_thoughthttp://en.wikipedia.org/wiki/Schools_of_economic_thoughthttp://en.wikipedia.org/wiki/Schools_of_economic_thoughthttp://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932010http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932010http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932010http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932010http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932010http://en.wikipedia.org/wiki/Economic_bubblehttp://en.wikipedia.org/wiki/Economic_bubblehttp://en.wikipedia.org/wiki/Economic_bubblehttp://en.wikipedia.org/wiki/Hindsighthttp://en.wikipedia.org/wiki/Hindsighthttp://en.wikipedia.org/wiki/Hindsighthttp://en.wikipedia.org/wiki/Mainstream_economicshttp://en.wikipedia.org/wiki/Mainstream_economicshttp://en.wikipedia.org/wiki/Mainstream_economicshttp://en.wikipedia.org/wiki/Robert_Shillerhttp://en.wikipedia.org/wiki/Robert_Shillerhttp://en.wikipedia.org/wiki/Robert_Shillerhttp://en.wikipedia.org/wiki/Real_estate_bubble#cite_note-2http://en.wikipedia.org/wiki/Real_estate_bubble#cite_note-2http://en.wikipedia.org/wiki/The_Economisthttp://en.wikipedia.org/wiki/The_Economisthttp://en.wikipedia.org/wiki/The_Economisthttp://en.wikipedia.org/wiki/The_Economisthttp://en.wikipedia.org/wiki/The_Economisthttp://en.wikipedia.org/wiki/The_Economisthttp://en.wikipedia.org/wiki/Real_estate_bubble#cite_note-2http://en.wikipedia.org/wiki/Robert_Shillerhttp://en.wikipedia.org/wiki/Mainstream_economicshttp://en.wikipedia.org/wiki/Hindsighthttp://en.wikipedia.org/wiki/Economic_bubblehttp://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932010http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932010http://en.wikipedia.org/wiki/Schools_of_economic_thoughthttp://en.wikipedia.org/wiki/Macroeconomichttp://en.wikipedia.org/wiki/Househttp://en.wikipedia.org/wiki/Real_propertyhttp://en.wikipedia.org/wiki/Real_propertyhttp://en.wikipedia.org/wiki/Real_estate_appraisalhttp://en.wikipedia.org/wiki/Real_estatehttp://en.wikipedia.org/wiki/Real_estatehttp://en.wikipedia.org/wiki/Economic_bubble


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Macroeconomic significance

Withinmainstream economics, economic bubbles, and in particular real estate

bubbles, are not considered major concerns.[dubiousdiscuss] Within some schools

ofheterodox economics, by contrast, real estate bubbles are considered of critical

importance and a fundamental cause offinancial crisesand ensuingeconomic

crises.

The mainstream economic view is that economic bubbles bring about a temporary

boost in wealth and a redistribution of wealth. When prices increase, there is a

positivewealth effect(property owners feel richer and spend more), and when they

decline, there is a negative wealth effect (property owners feel poorer and spend

less). These effects, it is argued, can be smoothed bycounter-cyclicalmonetary and

fiscal policies. The ultimate effect on owners who bought before the bubble formed

and did not sell is zero. Those who bought when low and sold high profited, while

those who bought high and sold low (after the bubble has burst) or held until the

price fell lost money. This redistribution of wealth, it is also argued, is of little

macroeconomic significance.

In some schools of heterodox economics, notablyAustrian economicsandPost-

Keynesian economics, real estate bubbles are seen as an example ofcredit

bubbles(pejoratively,speculative bubbles), because property owners generally use

borrowed money to purchase property, in the form ofmortgages. These are then

argued to cause financial and hence economic crises. This is first argued

empirically numerous real estate bubbles have been followed by economic

slumps, and it is argued that there is a cause-effect relationship between these.

The Post-Keynesian theory ofdebt deflationtakes a demand-side view, arguing

that property owners not only feel richer but borrow to (i) consume against the
http://en.wikipedia.org/wiki/Mainstream_economicshttp://en.wikipedia.org/wiki/Mainstream_economicshttp://en.wikipedia.org/wiki/Mainstream_economicshttp://en.wikipedia.org/wiki/Wikipedia:Disputed_statementhttp://en.wikipedia.org/wiki/Wikipedia:Disputed_statementhttp://en.wikipedia.org/wiki/Wikipedia:Disputed_statementhttp://en.wikipedia.org/wiki/Talk:Real_estate_bubble#Dubioushttp://en.wikipedia.org/wiki/Talk:Real_estate_bubble#Dubioushttp://en.wikipedia.org/wiki/Talk:Real_estate_bubble#Dubioushttp://en.wikipedia.org/wiki/Heterodox_economicshttp://en.wikipedia.org/wiki/Heterodox_economicshttp://en.wikipedia.org/wiki/Heterodox_economicshttp://en.wikipedia.org/wiki/Financial_criseshttp://en.wikipedia.org/wiki/Financial_criseshttp://en.wikipedia.org/wiki/Financial_criseshttp://en.wikipedia.org/wiki/Economic_criseshttp://en.wikipedia.org/wiki/Economic_criseshttp://en.wikipedia.org/wiki/Economic_criseshttp://en.wikipedia.org/wiki/Economic_criseshttp://en.wikipedia.org/wiki/Wealth_effecthttp://en.wikipedia.org/wiki/Wealth_effecthttp://en.wikipedia.org/wiki/Wealth_effecthttp://en.wikipedia.org/wiki/Counter-cyclicalhttp://en.wikipedia.org/wiki/Counter-cyclicalhttp://en.wikipedia.org/wiki/Austrian_economicshttp://en.wikipedia.org/wiki/Austrian_economicshttp://en.wikipedia.org/wiki/Austrian_economicshttp://en.wikipedia.org/wiki/Post-Keynesian_economicshttp://en.wikipedia.org/wiki/Post-Keynesian_economicshttp://en.wikipedia.org/wiki/Post-Keynesian_economicshttp://en.wikipedia.org/wiki/Post-Keynesian_economicshttp://en.wikipedia.org/wiki/Credit_bubblehttp://en.wikipedia.org/wiki/Credit_bubblehttp://en.wikipedia.org/wiki/Credit_bubblehttp://en.wikipedia.org/wiki/Credit_bubblehttp://en.wikipedia.org/wiki/Speculative_bubblehttp://en.wikipedia.org/wiki/Speculative_bubblehttp://en.wikipedia.org/wiki/Speculative_bubblehttp://en.wikipedia.org/wiki/Mortgage_loanhttp://en.wikipedia.org/wiki/Mortgage_loanhttp://en.wikipedia.org/wiki/Mortgage_loanhttp://en.wikipedia.org/wiki/Debt_deflationhttp://en.wikipedia.org/wiki/Debt_deflationhttp://en.wikipedia.org/wiki/Debt_deflationhttp://en.wikipedia.org/wiki/Debt_deflationhttp://en.wikipedia.org/wiki/Mortgage_loanhttp://en.wikipedia.org/wiki/Speculative_bubblehttp://en.wikipedia.org/wiki/Credit_bubblehttp://en.wikipedia.org/wiki/Credit_bubblehttp://en.wikipedia.org/wiki/Post-Keynesian_economicshttp://en.wikipedia.org/wiki/Post-Keynesian_economicshttp://en.wikipedia.org/wiki/Austrian_economicshttp://en.wikipedia.org/wiki/Counter-cyclicalhttp://en.wikipedia.org/wiki/Wealth_effecthttp://en.wikipedia.org/wiki/Economic_criseshttp://en.wikipedia.org/wiki/Economic_criseshttp://en.wikipedia.org/wiki/Financial_criseshttp://en.wikipedia.org/wiki/Heterodox_economicshttp://en.wikipedia.org/wiki/Talk:Real_estate_bubble#Dubioushttp://en.wikipedia.org/wiki/Wikipedia:Disputed_statementhttp://en.wikipedia.org/wiki/Mainstream_economics


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increased value of their property --- by taking out ahome equity line of credit), for

instance; or (ii) speculate by buying property with borrowed money in the

expectation that it will rise in value. When the bubble bursts, the value of the

property decreases but not the level of debt. The burden of repaying or defaulting

on the loan depressesaggregate demand, it is argued, and constitutes the proximate

cause of the subsequent economic slump.

Melbourne House Prices and Wages 1965 to 2010

Recent real estate bubbles

1990: Japan

The crash of theJapanese asset price bubblefrom 1990 on has been very damaging

to theJapanese economy,[4]

. The crash in 2005 affectedShanghai,China's largest

city.[5]In comparison to thestock market bubbles, real estate bubbles take longer to

deflate: prices decline slower because the real estate market is less liquid.

Commercial real estate generally moves in tandem with the residential properties,

since both are affected by many of same factors (e.g., interest rates) and share the

"wealth effect" of booms. Therefore this article focuses on housing bubbles and

mentions other sectors only when their situation differs.

2007: many countries

As of 2007, real estate bubbles had existed in the recent past or were widely

believed to still exist in many parts of the world,[6]especially in theUnited

States,Argentina,[7]Britain,Netherlands,Italy,Australia,Canada,New
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Zealand,Ireland,Spain,Lebanon,France,Poland,[8]South

Africa,Israel,Greece,Bulgaria,Croatia,[9]Norway,Singapore,South

Korea,Sweden,Baltic states,India,Romania,Russia,UkraineandChina.[10]Then

U.S. Federal Reserve ChairmanAlan Greenspansaid in mid-2005 that "at a

minimum, there's a little 'froth' (in the U.S. housing market) it's hard not to see

that there are a lot of local bubbles."[11]TheEconomistmagazine, writing at the

same time, went further, saying "the worldwide rise in house prices is the biggest

bubble in history".[12]Real estate bubbles are invariably followed by severe price

decreases (also known as a house price crash) that can result in many owners

holding mortgages that exceed the value of their homes. As of the end of 2010,

11.1 million residential properties, or 23.1% of all U.S. homes, were innegative

equityat Dec. 31, 2010.[13]Commercial property values remain around 35% below

their mid-2007 peak in the United Kingdom.[14]As a result, banks have become

less willing to hold large amounts of property backed debt, a likely key issue in

affecting a recovery worldwide in the near term.

Housing market indicators

UK house prices between 1975 and 2006 adjusted for inflation.
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ahttp://en.wikipedia.org/wiki/South_Africahttp://en.wikipedia.org/wiki/Real_estate_bubble#cite_note-7http://en.wikipedia.org/wiki/Polish_property_bubblehttp://en.wikipedia.org/wiki/Francehttp://en.wikipedia.org/wiki/Lebanese_housing_bubblehttp://en.wikipedia.org/wiki/Spanish_property_bubblehttp://en.wikipedia.org/wiki/Irish_property_bubblehttp://en.wikipedia.org/wiki/New_Zealand_property_bubblehttp://en.wikipedia.org/wiki/File:Graph-house-prices-1975-2006.gif


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Robert Shiller's plot of U.S. home prices, population, building costs, and bond

yields, fromIrrational Exuberance, 2d ed. Shiller shows that inflation adjusted U.S.

home prices increased 0.4% per year from 18902004, and 0.7% per year from

19402004, whereas U.S. census data from 19402004 shows that the self-

assessed value increased 2% per year.

In attempting to identify bubbles before they burst, economists have developed a

number offinancial ratiosandeconomic indicatorsthat can be used to evaluate

whether homes in a given area are fairly valued. By comparing current levels to

previous levels that have proven unsustainable in the past (i.e. led to or at least

accompanied crashes), one can make an educated guess as to whether a given real

estate market is experiencing a bubble. Indicators describe two interwoven aspects

of housing bubble: a valuation component and a debt (or leverage) component. The

valuation component measures how expensive houses are relative to what most

people can afford, and the debt component measures how indebted households

become in buying them for home or profit (and also how much exposure the banks

accumulate by lending for them). A basic summary of the progress of housing
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indicators for U.S. cities is provided byBusiness Week.[15]See also:real estate

economicsandreal estate trends.

Housing affordability measures

The price to income ratio is the basic affordability measure for housing in agiven area. It is generally the ratio ofmedianhouse prices to median

familialdisposable incomes, expressed as a percentage or as years of income. It

is sometimes compiled separately forfirst time buyersand

termed attainability.[citation needed] This ratio, applied to individuals, is a basic

component of mortgage lending decisions.[citation needed] According to a back-of-

the-envelope calculation byGoldman Sachs, a comparison of median home

prices to median household income suggests that U.S. housing in 2005 is

overvalued by 10%. "However, this estimate is based on an average mortgage

rate of about 6%, and we expect rates to rise," the firm's economics team wrote

in a recent report.[16]According to Goldman's figures, a one-percentage-point

rise in mortgage rates would reduce the fair value of home prices by 8%. [citation

needed]

The deposit to income ratio is the minimum requireddownpaymentfor atypical mortgage[specify], expressed in months or years of income. It is especially

important for first-time buyers without existinghome equity; if the

downpayment becomes too high then those buyers may find themselves "priced

out" of the market. For example, as of 2004 this ratio was equal to one year of

income in the UK.[17]

Another variant is what the United States'sNational Association of

Realtorscalls the "housing affordability index" in its publications.[18](The

NAR's methodology was criticized by some analysts as it does not account for
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inflation.[19]Other analysts, however, consider the measure appropriate,

because both the income and housing cost data is expressed in terms that

include inflation and, all things being equal, the index implicitly includes

inflation). In either case, the usefulness of this ratio in identifying a bubble is

debatable; while downpayments normally increase with house valuations, bank

lending becomes increasingly lax during a bubble and mortgages are offered to

borrowers who would not normally qualify for them (see Housing debt

measures, below).

The Affordability Index measures the ratio of the actual monthly cost of themortgage to take-home income. It is used more in the United Kingdom where

nearly all mortgages are variable and pegged to bank lending rates. It offers a

much more realistic measure of the ability of households to afford housing than

the crude price to income ratio. However it is more difficult to calculate, and

hence the price to income ratio is still more commonly used by pundits. In

recent years, lending practices have relaxed, allowing greater multiples of

income to be borrowed. Some speculate that this practice in the longtermcannot be sustained and may ultimately lead to unaffordable mortgage

payments, and repossession for many.[citation needed]

The Median Multiple measures the ratio of the median house price to themedian annual household income. This measure has historically hovered

around a value of 3.0 or less, but in recent years has risen dramatically,

especially in markets with severe public policy constraints on land and

development.[citation needed]
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Inflation-adjusted home prices inJapan(19802005) compared to home priceappreciation in theUnited States,Britain, andAustralia(19952005).

[edit]Housing debt measures

The housing debt to income ratio or debt-service ratio is the ratio of mortgagepayments to disposable income. When the ratio gets too high, households

become increasingly dependent on rising property values to service their debt.

A variant of this indicator measures total home ownership costs, including

mortgage payments, utilities and property taxes, as a percentage of a typical

household's monthly pre-tax income; for example seeRBCEconomics' reports

for the Canadian markets.[20]

The housing debt to equity ratio (not to be confused with the corporatedebt to

equity ratio), also calledloan to value, is the ratio of the mortgage debt to thevalue of the underlying property; it measuresfinancial leverage. This ratio

increases when the homeowner takes asecond mortgageorhome equity

loanusing the accumulated equity as collateral. A ratio greater higher than 1

implies that owner'sequityis negative.
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[edit]Housing ownership and rent measures

The ownership ratio is the proportion of households who own their homes asopposed torenting. It tends to rise steadily with incomes. Also, governments

often enact measures such astax cutsor subsidized financing to encourage and

facilitatehome ownership. If a rise in ownership is not supported by a rise in

incomes, it can mean either that buyers are taking advantage of lowinterest

rates(which must eventually rise again as the economy heats up) or that home

loans are awarded more liberally, to borrowers with poor credit. Therefore a

high ownership ratio combined with an increased rate ofsubprime lendingmay

signal higher debt levels associated with bubbles.

Theprice-to-earnings ratioorP/E ratiois the common metric used to assess therelative valuation ofequities. To compute the P/E ratio for the case of a rented

house, divide thepriceof the house by its potentialearningsornet income,

which is the market annualrentof the house minus expenses, which include

maintenance and property taxes. This formula is:

The houseprice-to-earnings ratioprovides a direct comparison to P/E ratios

used to analyze other uses of the money tied up in a home. Compare this

ratio to the simpler but less accurate price-rent ratio below.

The price-rent ratio is the average cost of ownership divided by thereceived rent income (if buying to let) or the estimated rent that would

be paid if renting (if buying to reside):
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The latter is often measured using the "owner's equivalent rent" numbers

published by theBureau of Labor Statistics. It can be viewed as the real

estate equivalent of stocks'price-earnings ratio; in other terms it measures

how much the buyer is paying for each dollar of received rent income (or

dollar saved from rent spending). Rents, just like corporate and personal

incomes, are generally tied very closely tosupply and demandfundamentals;

one rarely sees an unsustainable "rent bubble" (or "income bubble" for that

matter). Therefore a rapid increase of home prices combined with a flat

renting market can signal the onset of a bubble. The U.S. price-rent ratio was

18% higher than its long-run average as of October 2004.[21]

The gross rental yield, a measure used in the United Kingdom, isthe total yearly gross rent divided by the house price and

expressed as a percentage:

This is the reciprocal of the house price-rent ratio. The net rental

yield deducts the landlord's expenses (and sometimes estimated rental voids)

from the gross rent before doing the above calculation; this is the reciprocal

of the house P/E ratio.

Because rents are received throughout the year rather than at its end, both

the gross and net rental yields calculated by the above are somewhat less

than the true rental yields obtained when taking into account the monthly

nature of rental payments.

The occupancy rate (opposite: vacancy rate) is essentially the number of occupiedunits divided by the total number of units in a given region (in commercial real

estate, it is usually expressed in terms of area such as square meters for different
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grades of buildings). A low occupancy rate means that the market is in a state

ofoversupplybrought about by speculative construction and purchase. In this

context, supply-and-demand numbers can be misleading: sales demand exceeds

supply, but rent demand does not.

[edit]Housing price indices

Main article:House price index

The CaseShiller index (national, quarterly) 19872008, showing a housing bubble

peaking in 2006.

Measures of house price are also used in identifying housing bubbles; these are

known ashouse price indices(HPIs).

A noted series of HPIs for the United States are theCaseShiller indices, devised

by American economistsKarl Case,Robert J. Shiller, andAllan Weiss. As

measured by the CaseShiller index, the US experienced a housing bubble peaking

in the second quarter of 2006 (2006 Q2).

[edit]Real estate bubbles in the 2000s

By 2006, several areas of the world were thought to be in a bubble state, although

this contention was not without controversy. This hypothesis was based on

observation of similar patterns in real estate markets of a wide variety of
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countries.[22]This includes similar patterns of overvaluation and excessive

borrowing based on those overvaluations.

Thesubprime mortgage crisis, with its accompanying impacts and effects on

economies in various nations, has given some credence to the idea that these trends

might have some common characteristics.
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INDIA: REAL ESTATE SCENARIO


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GROWTH ACROSS GEOGRAPHIES


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Indias Property Sector: Credit Strengths

In the residential sector, a growing middle class is enjoying rising income levels.

Combined with smaller household sizes, this demographic change has boosted

demand for more modern housing and home loans. Meanwhile, increasingconsumer spending power has encouraged growth in organized in organized

retailingboth feeding off and contributing to the spear of mall culture and the

popularity of other large-scale retail property developments.

In the commercial property segment, strong growth in the services sector

particularly in the IT and ITES sectors and corporates growing scale of

operations have led to greater demand for commercial space, including modernoffices, warehouses and lodging space.

Many Developers have substantial plans to increase both their size and

geographical spread. They are also expanding into different kinds of properties,


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which can boost the firms franchise values and reduce concentration risks.

However, managing and financing such activities can be a challenge, and puts a

premium on financial flexibility, capital access and operational infrastructure.

The property industry is also wrestling with oversupply in certain areas, such as in

Indias commercial property sector, which may lead to rent reductions and value

drops. Meanwhile, property firms must also cope with a reduction in customer

advances on new construction, increasing land values (making acquisition and

development deals tougher), rising interest rates since 2005, and increased

difficulty in arranging capital. The latter is exacerbated by rising interest rates and

property prices, which have encouraged banks to become more selective in

granting loans as they try to preserve asset quality.

Moreover, the Reserve Bank of India (RBI) has increased risk weighting for real

estate exposure, which has served to curtail direct lending to this sector.

The property business in India also faces political risks. These risks may come in

various forms, but include the stalling of decisions over acquisitions or planning

permission during elections, while some approvals have even been rescinded

following elections and changes to state governments.

Property financing remains largely conducted through conventional mortgages,

with the volume of more modern, transparent and liquid products-such as shares in

public property firms and CMBS-still negligible. This is partly due to high

registration charges and transaction costs and structural impediments in the

securitization legal framework.

Furthermore, mutual funds lack the appetite of long-tenure deals, and mostly invest

in high quality debt, while pension funds and insurance companies have yet to

invest in structured paper either.


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COMPANY PROFILE

HDFC Realty is a wholly owned subsidiary of HDFC. We have assisted individuals in acquiring

homes valued at 5000 million rupees.

HDFC is a pioneer housing finance institution in India and with over 30 years in operations hasprovided finance to over a million families in India.

We are a team of real estate professionals facilitating Buying, Selling or Leasing of Residential /Commercial property.

At HDFC Realty, we provide personalised attention to the individuals and corporates in theirprocess of identifying properties. From understanding the requirement to organizing the sitevisits to completion of transaction, we make every effort to make the process of acquiring a

property, hassle free and convenient.

Presently our services are available in Mumbai, Navi Mumbai, Pune, Bangalore, Delhi / NCR,Kolkata, Kochi & Hyderabad.

For a property in India, you can depend on HDFC Realty, a subsidiary of HDFC, the pioneer

housing finance major in India, which has assisted over 2 million homebuyers in the last 30

years.

HDFC Realty helps to search properties in all major cities in India and has transacted in

properties worth over Rs.500 crores. Our objective is to provide the buyer all the services under

one roof, from property search to visits at the property site, and also help with the legal

documentation.
http://hdfcrealty.com/information.asphttp://hdfcrealty.com/information.asp


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COMPANY PRODUCTS

Hdfc realty Projects in Lucknow

CAPE TOWN

Overview Redefining wonderful living with a 4-sided open campus. Spread out over approx 50 sprawling acres. Well appointed apartments with modern conveniences.

A world-class leisure and residential community spread out over approx 50 sprawling acres, CapeTown has been

envisioned as a complete, self-contained campus area built around the best of the facilities where every home is

designed to the most demanding standards.

8 Variants of well planned (2,3,4 bedroom) apartments and penthouse towers, Luxury Villas spread over a greenarea, CapeTown from Hdfc realty is one of the best housing developments in the city.'

CapeTown will comprise of upscale, well appointed apartments with modern conveniences such as a clubhouse,

jogging track, swimming pool and more.


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Features

What's Special- 82% open landscaped area- 4 sided open vastu friendly Plot

- 100 Acre adjoining city greens

- In-house clubs with exclusive facilities

- 24 hour water & power supply

- Metro Connectivity

- Jogging track

- Extensive sports facilities (swimming, basketball, volleyball, badminton, tennis etc.

- Gymnasium

- Herbal and Medicine Plantation

- Massage therapy

Extensive sports facilities(including basketball, volleyball, badminton, tennis etc.)Swimming pool, Health Club, Medical Centre, Ayurvedic Massage Centre

Round the clock customer care Reticulated gas supply to every kitchen Shopping complex with in the complex Ample parking space Well-designed complex with beautiful landscape Jogging Track, Gymnasium, Harbal and Medicine Plantation, Massage therapy within the

campus.

A well equipped beauty salon run by professionals to give you the very best. A club house with luxury elements that will help you be you when you need the break


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ECOCITY

Overview

The roofs and walls, pergolas and water features, vegetation and choices of materials are allintended to create a micro-climate of a moderated, comfortable environment.

Ecociti incorporates ecologically responsive urbanism at work in which the environments behind

and between buildings are as important as the buildings themselves, and in which energy, water

and resources are conserved whilst maintaining human comfort and nurturing the spirit.

The roofs and walls, pergolas and water features, vegetation and choices of materials are all

intended to create a micro-climate of a moderated, comfortable environment. The architecture of

the complex is incorporates features of a high level of environmentally responsible design. The

buildings in Ecociti shall have natural ventilation system, use of renewable energy through solar

panels and utilization of other recycled material.

Also we have studio apartments - EcoSuites in the complex.

Features


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What's Special

- Committed to eco-centrism, Ecociti is about living the way nature wants you to.

- Creation of a micro-climate of a moderated environment.

- Use of anaerobic digestor for reduction of methane gas.

82% open landscaped area 2 Central Park of 3 acres & 2 Acres each within the complex Surrounded by 2 lush green sector parks In-house club with exclusive facilities Swimming pool, Health Club Badminton Court, Tennis Court & Amphitheatre 24 hour water & power supply Reticulated gas supply to every kitchen Shopping complex next to the complex Close to Sector-18, the entertainment hub of Lucknow Minutes away from reputed educational institutions like Amity, APJ, DPS etc. Vaastu friendly fengshui layout & design

Ample parking space Well-designed complex with beautiful landscape Located at Lucknow-Greater Lucknow Expressway Structure: Earthquake Resistance R.C.C. frame structure & non-load bearing brick walls

Communication & Security System

Intercom: Intercom facility in all flats connected with security Security: Guard room at main Entrance for Efficient manual

Garbage shoot

FFS: Each & Every tower will be well equipped with Fire Suppression System(a) Dry: The Fire extinguishers will be available at each floor.

(b) Sound: The Fire Alarm System will be available at each Floor

(c) Wet: The provision of Wet Pipe line at each floor.


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34 PAVALLION

Overview

Adjoining Lucknow City Center Metro Station International PGA standard 18 hole golf course nearby. Minutes away from reputed Educational Institutions like Amity, API, DPS, etc.

Hdfc realty presents AMBER HEIGHTS, ARISTO HEIGHTS and AZURE HEIGHTS at 34

Pavilion, Lucknow where you will find fully loaded 2 and 3 bedroom apartments well connected

with Delhi Metro.

It is situated in the heart of Lucknow and just 2 kms. from Lucknow Golf Course. It is minutes

drive from entertainment hub of Sector 18, Educational Institutes like AMITY, APEEJAY and

DPS are within the reach.

For recreation, you can join your friends at charmwood Club or Cappuccino Hut, especially

designed to suit your life style.

So now you can't miss a single fine moment of life.


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Features

What's Special

- Four side open Condominiums- Adjoining Lucknow City Center Metro Station

- Huge open landscaped area

- Eco friendly environment

- 100% power back-up

- Vaastu friendly fengshui layout & design

Centrally located at sector-34 in the heart of Lucknow Charm wood club with gymnasium, spa and other facilities Cappuccino hut - a place to connect Ample parking space Acres of green within the complex Artificial water bodies with landscaped gardens International PGA standard 18 hole golf course near by Close to sec-18-the entertainment hub of LUCKNOW Minutes away from reputed Educational Institutions like Amity, API, DPS, etc. Gated community lifestyle High speed elevators in all towers CCTV Surveillance Boom barrier for seprate entry & Exit In-house maintainance agency for up keeping of the compound


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APEX TOWERS

Overview

Located at the main Lucknow Expressway. Part of the fully developed Emerald Court campus with numerous families already residing. Exclusive swimming pool and club house.

Apex Towers situated in Emerald Court on the Greater LUCKNOW Expressway, combines both

sense and sensibility to give you your money's worth and more. Just 5 minutes away from Delhi

this apartment block is the tallest in the vicinity. Facing a 40 acre City Park the homes in this

project boast of a beautiful view along with the proximity of serene surrounding to stretch or

have fun with friends and family. The location boasts of several other advantages like the

proximity to various leading schools like Step-By-Step, Mayoor, Lotus Valley, AMITY

University and an upcoming multi-specialty hospital right across the road.

A home at Apex Tower comes with the added benefit of a swimming pool with in the compound.

The residents are also provided with a club house that offers the very best in class and service.

Here, living is all about adding style to your life!

And the best news is that the price for this high rise is not steep. Extremely affordable, these

luxuriously designed and perfectly built apartments are available at very attractive prices!


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Features

What's Special

- On the main LUCKNOW Expressway

- Just 5 Minute Drive from Delhi


- Facing 40 acre city park


On the main LUCKNOW Expressway Well-designed complex with beautiful landscape Just 5 Minute Drive from Delhi Part of the fully developed EMERALD COURT campus with numeral families

already residing

Facing 40 acre city park Vaastu friendly layout & design Close to Sector-18, the entertainment hub of Lucknow Exclusive swimming pool & club house Leading schools like Step-By-Step, Mayoor, Lotus Valley, AMITY University

in close proximity

Next to the upcoming multi-specialty hospital State-of-art shopping area within the complex 24 hour water & power supply Security System with intercom, CCTV system


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PROJECTS IN LUCKNOW EXTENSION AND GREATER LUCKNOW

CZAR

Overview

Modern day opulence prevails here Czar Suites are being uniquely developed as two side open plots on Faridabad Lucknow

Gurgaon (F-N-G Corridor), which has 130 metres wide road.

Beyond adjectives. Beyond hyperbole. This is the real thing.

Admittedly not for everyone, Czar Villas are the ultimate limited edition living experience. Each

villa is unique and captures the spirit of independent living spaces with a blend of community

living. With meticulously designed aesthetic interiors, they are the spaces so vibrant that while

you enjoy the best living style, you and your family will create the best moments. Moments that

you will wish like framing to adorn your wall for all times to come. And you can have all this

without having to pay through your nose.

GreaterLucknow

One of the largest industrial townships of Asia, is a young, planned, integrated vibrant city where

world class infrastructure provides numerous matchless facilities. Given its advantages, Greater

Lucknow has always been a preferred choice of Hdfc realty to offer various ultra-modern

projects to its customers.


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Adjacent to the project site, there is upcoming Night Safari, Formula1 Race Trace, Metro

Corridor and proposed International Airport at Greater Lucknow. Truly, its a perfect location for

the perfect moments.

Features

What's Special

- 85% open landscaped area

- Reticulated gas supply to every kitchen

- Ample parking space

- In-house clubs with exclusive facilities


- Next to Film city

- NRI city Biotech City

- IT City

- Medical City etc.

Central Park of 6 acres within the complex

60 units of super luxuary centrally air-conditioned apartments and penthouses

Four side open apartments and Penthouses with an individual identity 24 hour water & power supply International PGA standard 18 hole golf course near by Swimming pool, Health Club, Badminton Court Tennis Court & Amphitheatre State-of-art shopping mall within the complex & across the road Close to Sector-18, the entertainment hub of Lucknow Minutes away from reputed engineering and management intitutions Vaastu friendly layout & design


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Upcoming Night Safari, Formula1 Race Track, Metro Corridor and International Airport adjacent to site Security System with intercom, CCTV and separate electronic security lock with camera and access control Well-designed complex with beautiful landscape.

OXFORD SQUARE

Overview

Independent Floors A perfect blend of open spaces, community living and conveniences

Welcome to the world class, independent living spaces at Oxford Square, Greater Lucknow.

These Independent Floors provide a freedom of living where you are not forced to live in

claustrophobic environment. Each of the independent floors is designed to give you a feel of life

in a villa and a great sense of space. Independent Floors at Oxford Square is truly an address you

have always aspired for.


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With exclusive features like a terrace garden, a splash pool and a lot more, life at Oxford Square

is a perfect blend of open spaces, community living and conveniences. You will not be forced to

share your world with anyone else. With state-of-the-art security, gated complex, wide internal

roads, shopping complex, modern club, gym etc., you can now enjoy independent living on your

very own floor

Features

What's Special

- Possession in 18 months

- Duplex with personal splash pool & terrace garden

- Recreation centers

- Choice of 2, 3 & 4 BHK, G + 2 floors


- Duplex apartments on 2nd floor

- Primary creche School in the complex

Fully air conditioned independent floors with complete wood work. Possession in 18 months Duplex with personal splash pool & terrace garden Never before, Villas type independent floors on 22 acres of prime land at Gr. Lucknow Choice of 2, 3 & 4 BR, G + 2 floors Exclusive lawn for ground floor Exclusive terrace garden and splash pool for 2nd floor duplex#


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Independent parking for all floors Lush green environs In house club with all modern facilities

UPCOUNTRY

Overview

Now Experience Beachside Living without Leaving NCR. Choose between expandable Villas and High rise apartments.

Imagine stepping out of your home and stepping o

gufran ahmad

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