Demand Survey – A Unique Business Model
Real Estate has been an industry driven by Builders, Developers, Land Bankers, Investors etc who foresee the developmental infrastructural growth of a property in a specific area and come up with commercial and residential projects, catering to that requirement. It is primarily based on expected costs and appreciation of property, administrative developmental plans and upcoming infrastructure forecasts. Most of these forecasts are loosely based on past customer expectations and behaviour and developers’’ aspirations and understanding of that behaviour. With innumerable developers and players in the market place, there is a plethora of various properties, of varying budget, sizes, location, quality, facilities, design, architecture and so on. When the buyer considers the purchase, he tries to fit his requirement as per the property available, compromising on one or more criterion of his interest and choice.
Real Estate purchase is a big investment and once in a lifetime opportunity for many. Property purchase is also a long-term investment, hence any compromise or adjustment made leads to dissatisfaction and frustration in the long run and the buyer finds himself stuck with it and can’t change it so easily. This aspect has been studied and analysed in detail by our team at Zaurya RealTech and the concept of Demand Survey was designed.
Demand Survey is a tool that helps us understand the needs and interest of Home Buyers PAN India. Based on the inputs received through Demand Survey, we collate the requirements as per location, budget, types of units, size of house, facilities expected, community/profession of home buyers and many other such factors. We, then, approach/associate with the Builders who are equipped to cater to these requirements and co-create residential properties that will suit the needs and choice of our Customers.
Demand Survey is the tool that assists the Home buyer to express their interest and preferences and it becomes an impetus for us to conceptualise the Homes for our buyers.
Benefits of Demand Survey
- It helps us to understand the locations our buyers would prefer to purchase their home. There is a paradigm shift in the preferences for property purchase over the years. Earlier, most home purchases were focused towards respective hometowns as most people prefer to settle down close to their relatives and friends, a place that has their memories and roots. However, there has been a gradual change to locations where they are presently working and have a stronger social infrastructure, when compared to hometowns since most people travel to different places for work. Add to it, the education and employment opportunities that influence the house purchase decision. Also, earlier most resettlements were towards Metro cities but now there are other cities too that are hot favourites for settling down like Pune, Bhopal, Chandigarh, Jaipur, Ahmedabad, Indore, Bhubaneshwar and so on, mainly because they offer a good lifestyle coupled with a progressive development. Demand Survey becomes the input for Zaurya while deciding on the locations for our Projects.
- Demand Survey analysis helps Zaurya to identify the various criteria that define the buyer’s choice and preference. We then offer specific projects to these buyers, that fit their requirements. Thus, Demand Survey becomes an efficient tool for the Buyers to possess the dream home they have been aspiring for.
- Demand Survey is also an excellent tool for the Developers. The Survey assist in understanding the choice and need of the Home Buyer, based on which the Developer comes up with the residential projects. Since, the client base for the Project is already available, it leads to quicker sales, faster completion and hassle-free handing overs. The overheads involved due to Sales cycle are reduced and translates to lower cost of construction.
- Zaurya RealTech promises better costs compared to other marketing platforms. That is also driven by the efficiency of Demand Survey as an operational model. With the Demand Survey, our team is able to identify the home buyers who would be interested in the particular project, thus getting our client base ready. The marketing and advertising overheads for promoting the project are reduced, the administrative and project overheads for the Developer also come down. This advantage, received on the costs, gets transferred to the Home Buyer which leads to price considerations and other benefits being offered to our Customers, a win-win situation for all members of the Real Estate ecosystem.