Consumer Perception Survey for an Upcoming Township​

The growing Indian economy has left its mark in the infrastructural sector as well. Many cities and towns have progressively enhanced, owing to high infrastructural development. With changing times, the perception of people towards the real estate industry has changes drastically. In the past, the only perceived utility of houses was being used for residential purposes but of lately it has assumed a number of new objectives which includes long term investment, status symbol and a sense of security. The real estate sector has emerged as one of the most attractive markets in terms of investment in the past couple of decades.

Consumer Perception Survey for an Upcoming Township
Though still in its nascent stages, real estate in Chhattisgarh is expected to develop rapidly in the next decade. Following consultation with the promoters, objectives of a Feasibility Study was defined for use in developing the study instrument. Keeping the objectives in mind primary data was chosen for the study. The study was conducted using survey technique. The survey was conducted using questionnaire and telephonic interview techniques. The study was restricted to Chhattisgarh state. The selection was done purposively of Professionals pvt & govt., Business group, salaried people etc. Consumers with paying capacity have high probability of being a potential investor. These respondents were selected from the population based on the specific data required, whom we call the panelist.

Study shows that township cultures is gradually picking up in Chhattisgarh being considered as on avenue for luxurious, secured & peaceful ambient environment opportunities in the next 10 years. Keeping in mind the growing Upper middle income group population comprising service people , traders, and professionals emigrating from other states to Raipur , being a green field capital city with prospects for good business , Township with good Quality product mix coupled with amusement Parks will have very good prospects provided the pricing for different products are reasonable and affordable & not to the level of Metro cities.

Some of the glimpses of the study are as follows:

• Commercial and residential rehabilitation usually go hand-in-hand. Suburban areas are very keen towards Commercial properties.
• There should be a product mix of row houses, flats and independent bungalows with greenery and basic amenities.
• People wish to move out of daily hustle-bustle of the city crowd and traffic.
• Connectivity will play an important role. People would like regular shuttles-bus to Railway station and present city.
• Apparently, consumers in the state will be accepting the modern form of Township with unique advantages of good atmosphere, wide range of products mix, multi-sections of products and Quality construction.