A Study on Customer Expectations about Residential Apartments in Bangalore City

Abstract

India is an overpopulated nation whose population is growing daily at a rapid rate, which has led to a housing crisis. The price of land surged. People are no longer interested in purchasing land to build their own homes due to high prices, a lack of available land, the high cost of land registration, and the high cost of building supplies. This article illustrates what customers expect in terms of budget, apartment kinds and sizes, convenient locations, amenities within apartments, choice of company brand, and other factors. This study, which primarily focuses on Bangalore geographically, may be seen as making only a contribution to our understanding of the real estate market there and especially from the standpoint of the consumer. These are things that real estate companies might think about when developing their business plan. Policy makers, however, can take into account the customer impression and expectations mentioned in this study when creating relevant regulatory laws and frameworks. The buying behavior of individuals towards residential flat is a composite process which has some degree of risk as it is subjected higher degree of financial commitments. Additionally, the buying behavior for residential flats among individuals is relying on different features, amenities and socio-economic conditions. In order to improve the buying behavior of residential flats among home buyers, developers should build residential flats in health and sanitary environment and must sell their residential flats at affordable price.

Keywords: Real Estate, Customer Expectation, Business Strategy, Buying Behaviour

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