vijayalakshmi project
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INDEX
CHAPTER NO
TITLEPAGE
NO
Executive summary 1
INTRODUCTION
1.1 Introduction 2
1.2 Statement of problem 5I
1.3 Scope of study 5
1.4 Primary Objectives of study 6
1.5 Secondary Objectives of study 6
1.6 Limitations of the study 6
IIPROFILE
2.1 Industry Profile 7
2.2 Company Profile 10
IIIREVIEW OF LITERATURE 18
VRESEARCH METHODOLOGY 20 - 25
4.1 Research design 20
4.2 Source Of Data Collected 20
4.3 Sampling methodology 21
4.4 Tools of analysis 21
VIDATA INTERPRETATION AND ANALYSIS 26 - 72
VIIFINDINGS AND SUGGESTIONS
1
6.1 Findings 73
6.2 Suggestions 74
VIIICONCLUSION 75
BIBILOGRAPHY 76
ANNEXURE 77 - 78
2
LIST OF TABLESTABLE
NO TITLE
PAGE NO
1 Distribution of Respondents by their Age 26
2 Distribution of Respondents by their Qualification 28
3 Distribution of Respondents by their Occupation 30
4 Distribution of Respondents by their Income 32
5 Distribution of Respondents in terms of awarness through media 34
6 Distribution of Respondents in terms of their preference for type of building 36
7 Distribution of Respondents by their Affordable Budget 38
8 Distribution of Respondents in terms of their preference for type of flat 40
9 Distribution of Responses by their Property choice 42
10 Distribution of Respondents in terms of factors 44
3
11Distribution of Respondents in terms of their preference over Intercom facility
46
12 Distribution of Respondents in terms of availing Home Loan 48
13 Distribution of Respondents in terms of preference for Financial Institution 50
14 Distribution of Respondents in terms of awareness through media 52
15 Distribution of Respondents in terms of builder recommendation for bank 54
16 Distribution of Respondents in terms of preference for interest 56
17Distribution of Respondents in terms of preference for tenure for repayment
58
18 Distribution of Respondents in terms of percentage of Cost required as loan 60
19 Distribution of Respondents in terms of customer service 62
20 Distribution of Respondents by their preference over ETA 64
4
LIST OF CHARTS
CHART NO
TITLEPAGE
NO
1Distribution of Respondents by their Age
27
2Distribution of Respondents by their Qualification
29
3Distribution of Respondents by their Occupation
31
4Distribution of Respondents by their Income
33
5Distribution of Respondents in terms of awarness through media
35
6 Distribution of Respondents in terms of their preference for type of building 37
7Distribution of Respondents by their Affordable Budget
39
8Distribution of Respondents in terms of their preference for type of flat
41
9Distribution of Responses by their Property choice
43
5
10Distribution of Respondents in terms of factors
45
11 Distribution of Respondents in terms of their preference over Intercom facility 47
12Distribution of Respondents in terms of availing Home Loan
49
13 Distribution of Respondents in terms of preference for Financial Institution 51
14Distribution of Respondents in terms of awareness through media
53
15 Distribution of Respondents in terms of builder recommendation for bank 55
16Distribution of Respondents in terms of preference for interest
57
17 Distribution of Respondents in terms of preference for tenure for repayment 59
18 Distribution of Respondents in terms of percentage of Cost required as loan 61
19Distribution of Respondents in terms of customer service
63
20Distribution of Respondents by their preference over ETA
65
6
CHAPTER – I
INTRODUCTION
7
EXECUTIVE SUMMARY :
This project aims at studying the customer relations services with
reference to availing of home loans towards ETA Star property Developers. This study
was conducted so as to know the satisfaction level of customer with reference to home
loan towards ETA star property developers.
The primary objectives of the study is to analyze the relationship services
offered by the company in terms of arranging loan facilities and to offer suggestions
based on the expectations of customers and banking institutions to improve the customer
relations in ETA Star group. The secondary objective is to analyze the preferences and
purchase pattern of residential property customers in Chennai.
The study has some limitations such as time limit, small sample size and
research as been restricted only in Chennai.
The methodology to collect the primary data was a structured
questionnaire to be given to the respondents. The sample size for this research is 140 and
the people are customer of ETA Star property developers.8
The research design followed for this study is Descriptive Research. For
the collected data an in depth research analysis was framed and various statistical tools
and techniques like percentage analysis, Chi- square, Anova were also used for the
purpose.
The suggestions offered were ETA may still improve better relationship
with all banks by having regular meetings with decision making authorities once in three
months
CHAPTER-I
1. 1 INTRODUCTION
Our father of the nation Mahatma Gandhi said that the customers are real
assets for any company. These assets can be improved by fulfilling the needs of the
customers. The needs may differ from persons to persons, but for any person “HOME” is
the basic need.
Food, clothing and shelter are the basic necessities of life and we have
evolved from the cave dwelling types to more civilized times. Today, our houses are
more for comfort than for survival. So it is every individual's desire to build the coziest
nest to live in. People are willing to buy because they are not only using it for an living
purpose but also as an investment. In the current scenario there is a great desire among
people for home but does not have capacity to buy. So the dream of buying home may
not be possible for all the people but it can be eradicated by availing home loan from
banks. This is where Home Loans come in.
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Home loan means that you buy a house on installments. In simpler terms
when you want to own a home and can’t afford to pay the amount in lump sum, you can
pay it in monthly installments with an interest rate.
A home is one of the most important necessities in an individual's life.
With home loans now, one can purchase a home without paying the entire amount of
purchase. Home loans provide a facility of owning a home by taking loans at specific
interest rates
Now a days home loans are provided by many financial institutions like
Banks and also by non banking financial institutions. The Real fact is that many people
consider or prefer to avail the home loans from banks.
Home loans in India have made people to buy property in India in spite of
the skyrocketing prices. Today, we find considerable Real Estate Investment in India,
either in the field of Residential Property in India or Commercial Properties in India.
Home Loans in India are disbursed by many Banks as Loan Banking is
one of the most important functions of the Financial Services in India. Property Dealers
and Real Estate Consultants in India usually recommend that they undertake appropriate
Home Loan Counseling so that they can Buy Apartment in India at an affordable interest
Rate. Purchasing the home of your dreams is not an easy task. Especially when you plan
to buy a home on loan. There is lots of procedure involved in it. Home loan can be
sanctioned only if he fulfills eligibility criteria and provides all necessary documents
required by bank.
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Almost anyone and everyone with a wish to buy a property and means to
repay the loan can get a home loan. Every bank or lender has a set of criteria that you
need to meet before you can avail the loan
You must be at least 21 years of age when the loan is sanctioned,
The loan must terminate before you turn 65 or before retirement,
One must be having a recognized source of income.
Among the most important pre-requisites for home loan is the availability of genuine
documents that help the lender establish all claims. Banks will require proof of:
Completed application form
Passport size photograph
Proof of Identity – PAN Card/ Voters ID/ Passport/ Driving License
Proof of Residence – Recent Telephone Bill/ Electricity Bill/ Property tax
receipt/ Passport/ Voters ID
Proof of business address in respect of businessmen/ industrialists
Sale Deed, Agreement of Sale, Letter of Allotment, Non encumbrance certificate,
Land/ Building Tax paid receipt etc.
Copy of approved plan and approval from the Local Body
Statement of Bank Account/ Pass Book for last 6 months
Salaried Customers Self Employed Professionals Self Employed Businessman
Application form with photograph
Application form with photograph Application form with photograph
Identity and Residence Proof Identity and Residence Proof Identity and Residence Proof
Education Qualifications Education Qualifications
11
Certificate and Proof of business existence
Certificate and Proof of business existence
Latest Salary-slip Last 3 years Income Tax returns (self and business)
Business profile
Form 16 Last 3 years Profit /Loss and Balance Sheet
Last 3 years Income Tax returns (self and business)Last 3 years Profit /Loss and Balance Sheet
Last 6 months bank statements.Processing fee cheque
Last 6 months bank statements Last 6 months bank statements (self and business)
Processing fee cheque Processing fee cheque
1.2 STATEMENT OF THE PROBLEM
Customer satisfaction has far reaching impact on the viability of an
organization. Customer is the king of an organization. So the customer service said to be
very important for any organization. Meeting customer expectation is very important and
at the same time very crucial any organization especially in real estate market.
In the case of Home or own house customers are not only looking for homes for their
conveniences basically but they also need home loan to buy that property to own and live
happily throughout their life.
Customer relationships are being realized as one of the important factors
for availing home loans from different banks. So the researcher has chosen their customer
relations services with reference to availing of home loans from banks with regard to
ETA property developers for this study. Emirates Trading Agency – in short ETA star
developers is one of the biggest company in Asia.
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1. 3 SCOPE OF THE STUDY.
The survey has been undertaken in Chennai.
The study will help the company to know about its customer expectations
toward the banking facilities.
The study will help to know the present relationship between company and
customers in the area of banking.
CHAPTER –II
OBJECTIVES
13
1.4 Primary Objectives of the study:
1. To analyze the relationship services offered by the company in terms of
arranging loan facilities.
2. To offer suggestions based on the expectations of customers and banking
institutions to improve the customer relations in ETA STAR group.
1.5 Secondary objectives of the study:
1. To analyze the preferences and purchase pattern of residential property
customers in Chennai.
2. To assess the financing terms of home loan providers and needs of the
property purchasers in Chennai.
3. To make suggestions in the light of the findings of the study.
14
CHAPTER – IV
15
LIMITATIONS OF STUDY
1.6 Limitation of the Study:
The study is a micro analysis with sample size of 140 respondents only.
Research as been done only in Chennai.
Time limitation.
It was difficult to get clear cut response from some of the respondents as they
were busy. .
Some of them hesitated to give the full information in order to maintain
secrecy.
16
CHAPTER-II
INDUSTRY PROFILE:
17
In a slow and steady manner, the residential development in Indian
metros had taken off since 90’s. It began picking up momentum around mid-90 and today
it has scaled to a peak which was unimaginable till some years ago.
The Indian real estate sector plays a significant role in the country’s
economy. The real estate sector is second only to agriculture in terms of employment
generation and contributes heavily towards the gross domestic product (GDP). Five per
cent of the country's GDP is contributed to by the housing sector. In the next five years,
this contribution to the GDP is expected to rise to 6 per cent.
Moreover, the real estate sector is also responsible for the development of
over 250 ancillary industries such as cement, steel, paints etc. A study by rating agency
ICRA shows that the construction industry ranks 3rd among the 14 major sectors in terms
of direct, indirect and induced effects in all sectors of the economy. A unit increase in
expenditure in this sector has a multiplier effect and the capacity to generate income as
high as five times.
If the economy grows at the rate of 10 per cent, the housing sector has the
capacity to grow at 14 per cent and generate 3.2 million new jobs over a decade.
The real estate sector in India has observed a quite revolution over the past decade thanks
to India’s booming economy which has led to an increased demand for both commercial
and residential space. According to a study by a leading industry chamber, the Indian real
estate sector is expected to grow at 30 per cent over the next decade, attracting foreign
investments worth US$ 30 billion.
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Almost 80 per cent of real estate developed in India is residential space, the
rest comprising of offices, shopping malls, hotels and hospitals. According to the Tenth
Five-Year-Plan, there is a shortage of 22.4 million dwelling units. Thus, over the next 10
to 15 years, 80 to 90 million housing dwelling units will have to be constructed with a
majority of them catering to middle and lower income groups.
There has been a sharp increase in values of residential property all across
the country and there are a host of reasons for it. It has been primarily triggered by
increase in job opportunities, more land made available to the developers by the state
governments, tax incentives to the developers and last but not least the easy finances
available to the consumers in addition to the tax benefits for buying properties. Several
state governments which are pushing the growth of real estate have also been found to be
pro-active in making sincere efforts to improve the infrastructure of the area. The opening
up of FDI in the real estate sector has also added to the overall growth of this segment of
the real estate.
The real estate sector is also likely to get a boost from Real Estate Mutual
Funds (REMFs) and Real Estate Investment Trusts (REITs). India’s image as an
investment destination has also steadily moved up the value chain over the last six years
with increasing transparency in the real estate sector.
GOVERNMENT INITIATIVES:
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The government has introduced many progressive reform measures to
unlock the potential of the sector and also meet increasing demand levels. The
government's recently announced stimulus package, coupled with the Reserve Bank of
India's (RBI) move allowing banks to provide special treatment to the real estate sector, is
likely to impact the Indian real estate sector in a positive way. RBI has decided to extend
exceptional concessional treatment to the commercial real estate exposure and
restructured it to June 30, 2009.
100 per cent FDI allowed in realty projects through the automatic route.
In case of integrated townships, the minimum area to be developed has been
brought down to 25 acres from 100 acres.
Urban Land (Ceiling and Regulation) Act, 1976 (ULCRA) repealed by
increasingly larger number of states.
Enactment of Special Economic Zones Act.
Minimum capital investment for wholly-owned subsidiaries and joint ventures
stands at US$ 10 million and US$ 5 million, respectively.
Full repatriation of original investment after three years.
51 per cent FDI allowed in single-brand retail outlets and 100 per cent in cash-
and-carry through the automatic route.
Besides the above measures, the government has recently announced a excise
duty cuts on cement and steel will bring down construction costs.
2.2 COMPANY PROFILE
20
The ETA - Ascon Group is committed to the highest international standards of business.
A multidimensional, vastly diversified organization, the ETA-Ascon Group today stands
as a pre-eminent corporate entity in the Middle East. It was established in 1973 as a joint
venture between Al Ghurair Group of the United Arab Emirates, and Amana Investments
Limited of Hong Kong. With headquarters in Dubai, the ETA-Ascon Group network
encompasses 140 branches and associate offices in 21 countries employing over 48,000
people. The Consolidated Group turnover for year ended 2006 is US$ 4 Billion.
In three decades, the Group has established an enviable reputation for quality, service and
cost-effective technological capability, through farsightedness and sheer professionalism.
About ETA Group:
The ETA-ASCON Group was established in 1973 as a joint venture with Al Ghurair
Group of U.A.E. which is a multi dimensional, vastly diversified organization that can be
proud of a legacy of continued growth and success. ETA-ASCON has built an enviable
reputation for quality, service and cost effective technological capability and maintained
it through farsighted-ness and sheer professionalism. Headquartered in Dubai, the Group
network encompasses 23 branches and associate offices all over the globe.
ETA-ASCON represents some of the world’s leading manufacturers and service
providers. The Group’s track record of performance and growth exceeds the most
stringent criteria it has set for itself as one of the Arabian Gulf’s outstanding business
ventures.
ETA ASCON Group is primarily a Contracting firm in the U.A.E. with expertise
ranging from Civil Construction to Electro Mechanical, Elevator Engineering and
Facilities Management. Since its inception in 1973, the Firm has completed projects in
excess of Dhs. 5 Billion and numerous Landmarks in the Emirates stand testimony to the
21
firm’s engineering Capabilities. The company is a part of Al Ghurair Group of
Companies, who are the most revered and leading business house in the United Arab
Emirates.
VISION STATEMENT:
“We will strive to be the most preferred property developer & shall contribute to a
better living environment through the creation of landmark projects that the creation of
landmarks projects that meet & exceed our customers’ expectations”.
MISSION STATEMENT:
To provide residents with exemplary service in a quality home environment. It is
demonstrated in our client relationships, in the products and services we offer, and in the
way we conduct business. It’s not a one-time attitude. It’s our day-to-day standard. We
meet and exceed ETA Star clients’ expectations through accountability, hard work, pride
in our reputation and our constant pursuit of the highest standards of quality.
GROUP COMPANIES:
The Group Companies in India:
ETA constructions India Private (Ltd)
ETA Karnataka Estate Ltd
ETA Star Property & Developers
ETA Melco Elevators Company LLC
ETA Power Project Division
The Group Companies in Abroad:
ENGINEERING & CONSTRUCTION:
ASCON LLC
ASCON Roads & Infrastructure Works Div.
ASCON Swimming Pool & Leisure Works Div.
ETA – Mechanical & Electrical Division.
ETA - MELCO Elevator Company LLC.
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ETA - POWER Projects Division.
TRADING & SHIPPING:
ETA – Trading & Shipping Division
Zeenath Paper Traders
ETA – Timber & Surface Materials – Division
West Asia Maritime Ltd.,
MANUFACTURING & ASSEMBLING
ETA – POWER & Control Systems Division
ETA – Mechanical Engineering Division
ETA – Joinery & Interiors Division
ETA – New Materials Division
ASCON Marble works Division
Star Marble Division.
MAINTENANCE & SERVICES
Engineering Maintenance Company (EMCO)
Computerized Auto Repair & Services (CARS)
Modern Building Maintenance LLC (MBM)
Ajman National Travel Agency (ANTA)
RETAILING & DISTRIBUTION
Al Haseena Jewellery
Giordano Fashions LLC
ETA – Electromechanics
The Company has undertaken a number of residential projects for major groups;
to name a few, Juma Al Majid, Al Futtaim, Sultan Al Owais etc. The Dubai Business
Center Opposite to Burjuman, The Deira City Centre Hotel, The Sea Shell Inn hotel
apartments in Bur Dubai are a few of the projects which ASCON has constructed. As a
group ETA has been involved in almost every Major project in the Emirates, including
23
projects like Jumeirah Beach Hotel, The Emmar Towers in Dubai Marina, The Twin
Towers, Villas in the Emmar Hills etc.
Beside Dubai, the Company has also developed high value properties in India and
Sri Lanka and has delivered more than 2500 Units and developed an area of over 5
Million sq. ft.
ETA ASCON has enumerable divisions in every sector related to the construction
industry like Joinery and Interiors, Low Voltage Switchgear Panels, Elevators, Structural
Steel fabrication, Composite Aluminum ladding, Facility Management, Janitorial and
Cleaning services, etc.
These wide ranges of capabilities provide ETA ASCON the turnkey expertise to
deliver a project from the drawing board to completion. ETA ASCON over the years has
been involved in several commercial and residential projects in Dubai, where the
Company owns premium Real Estates. The group turnover for the financial year 2007-
2008 stands at USD5.5 billion.
In all, the company aims to bring in its in-house expertise in the Construction business
gained over the last 30 years to the advantage of its customers and deliver value for
money.
ETA Star Property Developers (India) Pvt. Ltd:
(BUILT on TRUST)
ETA Star Property Developers (India) Pvt. Ltd. strive to be the most preferred property developer by building better living environments and exceeding customer expectations.
ETA STAR Property Developers is a part of ETA ASCON Conglomerate,
which started with a vision to become a major player in the arena of Property
Development. ETA STAR offers a whole gamut of services connected with Property
development. The turnover of ETA Star Property Dubai is USD1.8 billion, a leader in the
24
market. Over 26 projects in the pipeline on both Commercial and residential front, ETA
Star shines quite bright among the other Developers across the Gulf.
ETA STAR PROPERTY DEVELOPERS LLC, a part of the well-known ETA –
ASCON conglomerate, is one of the leading property development companies in the Gulf
countries. ETA Star was established with the prime objective of serving the burgeoning
commercial opportunity in UAE’s free hold market. The company offers the whole
gamut of services in property development and hospitality services.
ETA Star property in Dubai ,besides being the epitome of quality living appointed
with tasteful luxury, is also competitive with international real estate markets. With the
opening of the real estate market to freehold investors and prospective home buyers, ETA
Star has embarked on a major program to develop commercial, residential and hospitality
properties.
ETA Star has launched over 4.5 million square feet of premium properties located
at prestigious freehold areas of Dubai & Northern Emirates. ETA Star also has plans to
develop another 4 million square feet of commercial, residential and hospitality projects
located in Business Bay, Arabian Bay, International Media Production Zone
(IMPZ),Dubai Internet &Media city, a luxury resort &spa in the Jumeirah palm crescent
besides a couple of hotels apartments, residential and commercial towers located in major
districts of Dubai and other Northern Emirates.
Recognizing the soaring potential of the Indian realty sector early on, ETA Star
property Properties has already begun investing in prime locations across the country,
building iconic properties with international appeal and world-class standards. ETA Star
Property Developers are always in the forefront to harness the lands in Chennai to deliver
the best buildings for commercial and residential occupation. The ETA’s two major
commercial projects in the SEZ category, the Technopark and the Techcity, will speak
for ever on our style, design and engineering. All the projects of ETA take care of the
existing flora and fauna in the area of construction and we in ETA Star are proud to
deliver our product in an eco friendly environment. With operations in Mumbai and
25
Bangalore, ETA star property developers are looking for ventures in Tier 2 and Tier 3
cities like Madurai, Coimbatore, Cochin, Pune and Goa.
CURRENT PROJECTS:
Techno Park at Old Mahabalipuram Road, Navalur, Chennai.
Residential Project at Padur on Old Mahabalipuram Road, Chennai.
Commercial Buildings, Anand Theatre, Anna Salai, Chennai.
A Luxury Residential Apartment on Greenways Road, Chennai.
Citi Center Shopping Mall/Multiplex/Hotel, Bangalore.
ETA Star Tech City:
ETA Star Tech City is a Special Purpose Vehicle company of the property
development arm of ETA Star to work on the proposed Integrated Township at
sriperumpudur at an area of 350 acres. This Project Company is a Joint Venture
Company between ETA Star Property Developers Ltd. (“ETA SPDL”) and Tamil nadu
Industrial Development Corporation Ltd (“TIDCO”).Unique concept of developing
“Integrated Township & Business City, by packaging economic themes with residential
specific cluster benefits, integrating logistics solutions for business, residential
infrastructure for employee communities and by raising the “Expatriate Index” by
creating an international theme village are some of the USP’s of this project. The Tech
City aims to create an ecologically sensitive area, aimed to provide a dream lifestyle to
everybody.
Technopark
An IT SEZ project developed by us in the IT Corridor of Chennai spans in an area
of 41.6 lakh sq.ft. This has four blocks with two blocks of 3.1 lakh sq.ft each and the rest
with 16.6 lakh sq.ft each. There will be a podium between these 4 blocks spread over 2.2
lakh sq.ft. This will encompass a Non-processing area comprising of retail, food court,
convention hall, Multiplexes and others. ETA Technopark will have ample car parking
26
space in the ratio of one car for every 600 sq.ft. of leasable area in the basement in
addition to open car parking for two wheelers and bus marks.
Residential Projects
"Home Sweet Home" is the caption we always remember while developing any
residential projects in ETA Star enabling us to prove to the world with rich fragrance of
flowers in the minds of our customers. Jasmine Court, a landmark next to the
Ramachandra Medical College in the Mount Poonamalle road, porur and the expected
Rosedale in Rajiv Gandhi Road(OMR), Padur will stand as a testimony in our residential
project. We can call these projects as mini townships, getting the luxury and basic needs
at one podium. Our focus and execution of luxury apartments and villas are not too far
and the satisfaction of hearing from our customers to know more before the launch make
us ride the magical horse. Our new projects Sun City and Dolphin court are not far from
sight to visualize them soon.
Jasmine court: ETA Star, the first freehold property developer in the region to receive an
ISO 9001: 2000 certification, has recently launched its first residential project in Chennai,
India, representing the start of the company's AED 11 billion investment foray into the
Tamil Nadu region 'Jasmine Court' residential development, offering investors mixed-
size apartments distributed over 4.4 acres of landscaped property near the Chennai
International Airport, with facilities including a children's play area, a swimming pool, a
gymnasium and basketball court.
ETA Star Rosedale: Down the OMR, surrounded by the much coveted IT Corridor of Chennai is ETA Star Rosedale. Padur, Rosedale is the residential community for those wanting a place that will give them an upscale-lifestyle. Rosedale spreads across 6.89 acres of landscaped area. It is a green haven with every step landscaped in tune with the theme of 'rose'. it is projected that over 2 lakhs IT / ITES people are working in this area and this area is expected to see a new community of people, living and working in this place.
ETA Le Chalet: At Le chalet, an exclusive gated society at sriperumbudur. Spread over 22 acres this private colony has around 400 homes. Le chalet is a joint venture of ETA Star property and the Baashyaam Group.
27
ETA Star Infrastructure
India's infrastructure has been expanding at a rapid pace to support the economic
growth rate of over 9 per cent. According to the consultation aper circulated by the
planning commission, a massive US$ 494 billion of investment is proposed for the
eleventh plan period (2007-12), which would increase the share of infrastructure
investment to 9 per cent of GDP from 5 per cent in 2006-07. This translates roughly into
US$ 40 billion annual additional investment.
ETA’s Infrastructure division, who are pioneers in building light houses, dams,
highways, bridges, flyovers, air terminals and more are always in the race to exhibit their
quality in time with a clear focus on public usage and comfort. In these lines our fresh
from farm assignments, the two idle projects in Meghalaya at an estimated USD125
million and the six lane development in Gurgaon-Jaipur section of NH8 of a project cost
worth USD750 million stands as a testimony, not only for our commitment but also for
our established strength in executing the work with utmost accuracy. The above projects
are on BOT agreement with the Government of India and the respective states, and our
Built on Trust takes one and all to offer more in our plate.
CHAPTER-III
REVIEW OF LITERATURE
28
The father of our nation, Mahatma Gandhi, emphasized consumer as “A
customer is the most important visitor on our premises. He is not dependent on us. We
are dependent on him. He is not an outsider to our business. He is part of it .we are not
doing him a favour by serving him. He is doing us a favour by giving us an opportunity
to do so.
In a competitive marketplace where businesses compete for customers,
customer satisfaction is seen as a key differentiator and increasingly has become a key
element of business strategy.
Marketing has been conceptualized and accepted as an activity directed at
satisfying needs and wants through exchange processes. The "Marketing Concept" is
essentially the satisfaction of customer needs through integrated marketing with the intent
to satisfy the customer while earning a profit. The basic idea is that a satisfied customer
will be more likely to repurchase, leading to increased sales and market share for the
firm.
The paramount goal of marketing is to understand the consumer and to
influence buying behaviour. Customer satisfaction being the primary objective, it
becomes imperative to understand customer expectations and measure customer
satisfaction to understand customer behavior.
There has been a shift from transactions to a relationship focus in
marketing. Customers become partner and firm must make long term commitments to
maintaining those relationships with quality, services and innovation. Relationship
marketing is a philosophy of doing business, a strategic orientation, that focus on keeping
and improving new customer rather than acquiring new customer
29
According to L.L.berry the primary goal of relationship marketing is to
build and maintain a base of committed who are profitable for the organization.t o
achieve this goal, the will focus on the attraction, retention, and enhancement of customer
relationship.
According to Philip Kotler the particular strategy an organization uses to
retain its current customers can and should be customized to fit the industry the culture
and the customer needs of the organization.Good relationship strategy require effective
market segmentationto identify who the organization wants to have relationship[ with
continous development of services that evolve to suit needs of these relationships
customers
Customer service is the cornerstone of a solid, thriving business. It costs
six to thirty times more to get a new customer than it does to service and maintain the
satisfaction and loyalty of an existing customer. Companies struggle to cut costs without
realizing that customer attrition might be the single largest cost they have. Keeping
customers happy has the same bottom line effect as cutting costs. Increase your customer
retention by 5%, and you could increase your profits 25% to 100%. But you won’t get
there by providing the same “average” service as everyone else.
30
CHAPTER – III
RESEARCH METHODOLOGY
CHAPTER -IV
31
4. RESEARCH METHODOLOGY:
Methodology is an essential aspect of any project or research. It
enables the researches look at the problem in a systematic, meaningful and
orderly way. Methodology comprises the sources of data, selection of data,
various designs and techniques used for analyzing the data.
Research methodology involves the various steps that have been
adopted by the researcher in solving the research problems at hand . Methodology
is the backbone of the project work. It includes Sample, Sample Size, Methods of Data
collection, Tools used for studying the problem.
4.1 Research Design:
The research design involves opinion surveys and fact-finding enquiries
including the determination of variables that are associated .
4. 2 Sources of Data Collection:
Data is the unprocessed information. It is the basic factor, which gives the
information about the problem. Data are of two types namely
Primary data
Secondary data
Primary Data:
This is the data, which is collected by the researcher using a
Questionnaire.
Secondary Data:
The data, which are already collected, are called secondary data.
Secondary data are those which have already been collected by some one else
which have already been passed through the statistical process.. The secondary
32
data and other relevant information for this study such as, books, journals,
company websites, and paper publications.
4. 3 Sampling Method:
Convenience sampling technique is used for sampling.
Sample Size:
From the total of 200 present customers of the company, samples of 140
were chosen are contacted
Data collection methodology:
For data collection Questionnaire is used. The questionnaire will have a set of
questions based on the study topic. The respondents have to fill up the questionnaire
after going through it
4. 4 TOOLS OF ANALYSIS:
The data, after collection, has to be processed and analyzed in accordance with
the outline laid down for the purpose at the time of developing the research plan. This is
essential for a scientific study for ensuring that we have all relevant data for making
contemplated comparisons and analysis.
Technically speaking, processing implies editing, coding, classifications and
tabulation of collected data so that they are amenable to analysis. The term analysis refers
to the consumption of certain measures along with searching for patterns of relationship
that exist among data groups. Analysis of a data in a general way involves a number of
closely related operations, which are performed with the purpose of summarizing the
collected data and organizing these in a manner that they answer the research question.
The following tools are used for analysis of data.
33
1. Percentage method
2. Rank correlation
3. Chi square test
4. ANOVA
Percentage Method:
By percentage method, we can simplify the data by putting percentage and reducing
all of them to a 0 to 100 range. Through the use of percentage, the data are reduced in the
standard form with base equal to 100 which facilities the relative comparison.
Number of response
________________________ X 100
Total number of respondents
Rank correlation:
Under this method, the individuals in the group are arranged in order and there by
assigning number to each individual indicating its rank in the group.
Rk = 1 - 6 ED 2
N3 - N
Chi square test:
Chi square is a statistical measure used in the context of sampling analysis for
comparing a variance to a theoretical variance.Conditions for the application of Chi
square test
Before applying Chi suare the following conditions should be satisfied
1.Observations recorded and used are collected on a random basis
2. All the items in the sample must be independent.
34
3. No group should contain few items; less than 5,regrouping are to be done.
4. The overall number of items must also be reasonably large
Steps involved in applying Chi square:
1. Calculation of expected frequencies:
Expected frequency = (row total for the row of that cell)*
(Column total for the column of that cell)
------------------------------------------------
Grand total
2. Calculated the difference between observed frequency and expected frequency and the
square of that
(Oi-Ei)2
3. Divide the quantity (Oi-Ei)2 with corresponding expected frequency
i.e (Oi-Ei)2
-------
Ei
4. find the summation of (Oi-Ei)2
---------
Ei
U2 = E (Oi-Ei)2
------------
Ei
Chi square as such should be compared with relevant table value of Chi suare at 5% level
of significance
Observed Expected (Oi-Ei) (Oi-Ei)2 (Oi-Ei)2/Ei
35
frequency Oi Frequency Ei
Here
Oi Observed Frequency
Ei Expected Frequency
Degree of Freedom =(c-1) (r-1)
Analysis Of Variance: The analysis of variance frequently referred to by the contraction ANOVA is a statistical
technique specially designed to test whether the means of more than two quantitative
populations are equal. There are two types of classification.
1) ONE WAY classification 2) TWO WAY classification
In one way classification the data are classified according to only one criterion.
In Two way classification the data are classified according to two criterions.
In Two way classification the analysis of variance table takes the following form.
Sources of Variation
Sum of Squares
Degree of Freedom Mean sum of squares Ratio of F
Between Samples SSC ( C-1 ) MSC=SSC \ ( C-1 ) MSC\MSE
Between Rows SSR ( r-1 ) MSR= SSR \ ( r-1 ) MSR\MSE
Residual or Error SSE ( c-1 ) ( r-1 ) MSE=SSE\ ( r-1 ) ( c-1 )
TOTAL SST n-1
SSC = Sum of Squares between columns
36
SSR = Sum of Squares between Rows.
SSE = Sum of Squares due to error SST = Total Sum of squares SSE = SST – [ SSC + SSR ]
The F values are calculated as follows
F = MSC / MSE F = MSR / MSE
37
CHAPTER – V
DATA ANALYSIS &
INTERPRETATION
38
CHAPTER-V
DATA ANALYSIS AND INTERPRETATION
The tables represent the data being collected for the study. Applying the research
methodology, this data has been analyzed and interpreted.
5 .1 Distribution of Respondents by their Age
Table - 1
SNO AGE RESPONDTS PERCENTAGE
1 BELOW 25YRS 20 14%
2 25-35 YRS 28 20%
3 36-45 44 31%
4 46 and ABOVE 48 35%
TOTAL 140 100 %
Interpretation:
From the above table it is clear that show the age-wise classification of the
respondents. Among 140 respondents
31% of the respondents come under the age group of 36-45 years
35% of the respondents under the age group of 46 and above years
20% of the respondents under the age group of 25-35 years
15% of the respondents under the age group of Below 25 years.
39
5 .1 Distribution of Respondents by their Age
Chart- 1
40
AGE
14%
20%
31%
35% BELOW 25YRS
25-35 YRS
36-45
46 AND ABOVE
5 .2 Distribution of Respondents by their Qualification
Table - 2
S.NO QUALIFICATION RESPONDENTS PERCENTAGE
1. Under graduate 40 29%
2. Post graduate 70 50%
3. Others 30 21%
TOTAL 140 100 %
Interpretation:
The above table explains educational qualification of the respondents. Out of 140
respondents
29% of the responses are under graduate.
50% of the responses are post graduate.
41
5 .2 Distribution of Respondents by their Qualification
Chart -2
42
EDUCATIONAL QUALIFICATION
0
10
20
30
40
50
60
Under Graduate Post Graduate Others
5 .3 Distribution of Respondents by their Occupation
Table - 3
S.NO OCCUPATION RESPONDENTS PERCENTAGE
1 BUSINESS 40 29 %
2 PROFESSIONAL 30 21 %
3 GOVERNMENT JOB 20 14 %
4 PRIVATE JOB 40 29 %
5 SELF EMPLOYED 10 7 %
TOTAL 140 100 %
Interpretation:
The above table clearly shows that
29% of the respondents are business man.
21% of them are performing professional jobs.
14% of them are Government employees.
29% of them are in Private jobs.
Remaining 7% of them are self employed.
43
5.3 Distribution of Respondents by their Occupation
Chart - 3
44
OCCUPATION
29%
21%14%
29%
7%
BUSINESS
PROFESSIONAL
GOVT
PVT
SELF EMPLOYED
5 .4 Distribution of Respondents by their Income
Table -4
.
S.NO INCOME RESPONDENTS PERCENTAGE
1 5-8 LAC 10 7 %
2 8-10 LAC 28 20 %
3 10-15 LAC 34 24 %
4 15 LAC AND ABOVE 68 49%
TOTAL 140 100 %
Interpretation:
From the above table it is clear that
7% of respondents are comes under the category of 5-8 lakhs,
20% of the respondents are the between 8-10 lakhs.
24% of them comes under 10-15 lakhs and
49% of respondents earn above15 lakhs.
45
5.4 Distribution of Respondents by their Income
Chart -4
46
ANNUAL INCOME
10
24
30
68
0
10
20
30
40
50
60
70
5-8 LAC 8-10 LAC 10-15 LAC 15 LAC ANDABOVE
5 .5 Distribution of Respondents in terms of awarness through media
Table-5
S.NO MEDIA RESPONSES PERCENTAGE
1 NEWSPAPER/MEDIA 77 51 %
2 HOARDINGS 8 5 %
3 KNOWN PERSON 43 28 %
4 OTHERS 24 16 %
TOTAL 152 100 %
Interpretation:
Out of responses
51% of them are aware through newspaper.
28% of them came to know about ETA through known person.
5% of them are aware through hoardings.
47
5 .5 Distribution of Respondents in terms of awarness through media
Chart - 5
48
MEDIA
0
10
20
30
40
50
60
70
80
90
A B C D
A) NEWSPAPER
B) HORDINGS
C) KNOWN PERSONS
D) OTHERS
5 .6 Distribution of Respondents in terms of their preference for type of building
Table - 6
S.NO TYPE OF BUILDING RESPONDENTS PERCENTAGE
1 LUXURY FLATS 38 27 %
2 VILLA 18 13 %
3 DUPLEX HOUSES 42 30 %
4 APARTMENTS 42 30 %
TOTAL 140 100%
Interpretation:
30% of the respondents preferred apartment and another 30% of them
preferred Duplex houses.
49
27% the respondents preferred luxury flats
Where as 13% of the respondents preferred villa
5 .6 Distribution of Respondents in terms of their preference for type of building
Chart -6
50
5 .7 Distribution of Respondents by their Affordable Budget
Table - 7
51
TYPE OF BUILDING
27%
13%
30%
30%Luxury flats
villa
Duplex houses
Apartments
S.NO AFFORDABLE BUDGET REPONDENTS PERCENTAGE
1 35-40 LAC 66 48 %
2 40-50 LAC 34 24 %
3 50-60 LAC 16 11 %
4 60 LAC AND ABOVE 24 17 %
TOTAL 140 100%
Interpretation:
Out of 140 respondents
48% of them want flat for 35-40 lakhs
24% of respondents preferred flat cost between 40-50 lakhs.
5 .7 Distribution of Respondents by their Affordable Budget
Chart - 7
52
.
5.8 Distribution of Respondents in terms of their preference for type of flat
Table - 8
53
66
34
16
24
0
10
20
30
40
50
60
70
35-40 Lac 40-50 Lac 50-60 Lac 60 Lac andAbove
S.NO FLAT RESPONDENTS PERCENTAGE
1 2BHK 20 14 %
2 3BHK 54 38 %
3 2BHK+STUDY 58 42 %
4 3BHK+STUDY 8 6%
TOTAL 140 100
Interpretation:
From the above table it is clear that
42% of the respondents preferred 2Bhk +study
The remaining is 38% of them preferred 3bhk.
5 .8 Distribution of Respondents by their Flat
Chart - 8
54
5 .9 Distribution of Responses by their Property choice
Table - 9
55
14%
38%42%
6% 2BHK
3BHK
2BHK+STUDY
3BHK+STUDY
Interpretation:
From the above table it explains that
38% of respondents choose ETA for their Reputation
31% of respondents choose for their brand name.
42% of respondents choose ETA for their quality.
5 .9 Distribution of Respondents by their Property choice
Chart - 9
56
S.NO PROPERTY RESPONSES PERCENTAGE
1 BRAND NAME 48 31 %
2 REPUTATION 58 38 %
3 QUALITY 42 27 %
4 OTHERS 6 4 %
TOTAL 154 100 %
5 .10 Distribution of Respondents in terms of factors
Table - 10
57
31%
38%
27%4%
BRAND NAME
REPUTATION
QUALITY
OTHERS
S.NO RANK RESPONDENTS PERCENTAGE
1 AMENITIES 36 22 %
2 VAASTHU 26 16 %
3 SECURITY 31 19 %
4 LOCATION 49 31 %
5 INFRASTRUCTURE 17 10 %
6 OTHERS 2 1 %
TOTAL 161 100 %
Interpretation:
31% of respondents ranked location as the most important factor for buildings
22% of respondents are for Amenities.
19% of them ranked security as important factor.
16% of them ranked vaasthu as important factor.
Where 10% of them said infrastructure is an important factor.
5 .10 Distribution of Respondents in terms of factors
Chart 10
58
5 .11 Distribution of Respondents in terms of their
preference over Intercom facility
Table - 11
59
22%
16%
19%
31%
11%
1%
AMENITIES
VAASTHU
SECURITY LOCATION
INFRASTRUCTURE
OTHERS
S.NO INTERCOM RESPONDENTS PERCENTAGE
1 YES 60 43 %
2 NO 80 57 %
TOTAL 140 100 %
Interpretation:
Out of 140 respondents it is clear that
43% of respondents preferred to have intercom facilities.
57% of respondents does not preferred intercom facility for their flat.
5 .11 Distribution of Respondents in terms of their
preference over Intercom facility
Chart - 11
60
5 .12 Distribution of Respondents in terms of availing Home Loan
Table -12
61
INTERCOM FACILITY
43%
57%
YES
NO
S.NO HOME LOAN RESPONDENTS PERCENTAGE
1 YES 134 96 %
2 NO 6 4 %
TOTAL 140 100 %
Interpretation:
Out of 140 respondents it is clear that
96% of respondents are interested in availing home loan.
Where only 4% of them are not interested in availing home loans.
5 .12 Distribution of Respondents in terms of availing Home Loan
Chart - 1262
5 .13 Distribution of Respondents in terms of preference
for Financial Institution
63
HOME LOAN
96%
4%
YES
NO
Table - 13
S.NO FIANCIAL INSTITUTION RESPONDENTS PERCENTAGE
1. NATIONALIZED BANKS 78 56 %
2. PVT BANKS 56 40 %
3. NON BANKS 6 4 %
4. OTHERS 0 -
TOTAL 134 100 %
Interpretation:
From the above table it is clear that
56% of them preferred to go for nationalized bank.
40% of them preferred private banks.
Only 4% of them preferred non bank
5 .13 Distribution of Respondents in terms of preference
for Financial Institution
Chart - 13
64
5 .14 Distribution of Respondents in terms of awareness
through media65
FINANCIAL INSTITUTION
54%42%
4%NATIONALIZED
BANKS
PVT BANKS
NON BANKS
OTHERS
Table - 14
S.NO BANKS RESPONDENTS PERCENTAGE
1 NEWSPAPER/MEDIA 90 67 %
2 HOARDINGS 14 10 %
3 ETA STAR EXECUTIVE 20 15 %
4 OTHERS 10 8 %
TOTAL 134 100 %
Interpretation:
From the above table it is clear that
67% of respondents are aware of these banks through Newspaper.
20% of them are aware through ETA executives.
10% of followed Hoardings.
5 .14 Distribution of Respondents in terms of awareness
through media
Chart - 14
66
5.15 Distribution of Respondents in terms of builder recommendation for bank
67
NEWSPAPER/MEDIA
68%
HOARDINGS10%
ETA STAR EXECUTIVE
15%
OTHERS7%
NEWSPAPER/MEDIA
HOARDINGS
ETA STAREXECUTIVE
OTHERS
Table - 15
S.NO
BUILDER
RECOMMENDATION RESPONDENTS PERCENTAGE
1 YES 93 67 %
2 NO 47 33 %
TOTAL 140 100 %
Interpretation:
Out of 140 respondents it is clear that
67% of them accept if builders recommend a bank for home loan and
33% of them said no for builders recommendations.
5 .15 Distribution of Respondents in terms of builder recommendation for bank
Chart - 15
68
5 .16 Distribution of Respondents in terms of preference for interest
Table - 16
69
BUILDER RECOMMENDATION
67%
33%YES
NO
S.NO INTEREST REPONDENTS PERCENTAGE
1 FLOATING 102 73 %
2 FIXED 38 27 %
TOTAL 140 100 %
Interpretation:
Out of 140 respondents it is clear that
73% of respondents preferred floating rate of interest and
27% of respondents are for fixed interest rate.
5 .16 Distribution of Respondents in terms of preference for interest
Chart - 16
70
5 .17 Distribution of Respondents in terms of preference for tenure for repayment
Table - 17
71
TYPE OF RATE OF INTEREST
27%
73%
FLOATING
FIXED
S.NO TENURE RESPONDENTS PERCENTAGE
1 UPTO 5YRS 10 7 %
2 10YRS 42 30 %
3 10-15YRS 63 45 %
4 15-20 YRS 25 18 %
TOTAL 140 100 %
Interpretation:
From the above table it is clear that
45% of them preferred 10 to 15 years as tenure for repayment
30% of them preferred 10 years tenure
18% of them preferred tenure of 15-20 years and
Only 7% want tenure period upto 5 years.
5 .17 Distribution of Respondents in terms of preference for tenure for repayment
Chart - 17
72
5 .18 Distribution of Respondents in terms of percentage of Cost required as loan
Table - 18
73
TENURE FOR REPAYMENT
7%
30%
45%
18%
UPTO 5YRS
10YRS
10-15YRS
15-20 YRS
S.NO Percentage of loan required RESPONDENTS PERCENTAGE
1 UPTO 70% 16 11%
2 70-85% 33 24%
3 85-90% 91 65%
TOTAL 140 100 %
Interpretation:
From the above table it is clear that
65% of them prefer 85 to 90% of cost of the flat as loan
24% of respondents preferred 70 to 85% as loan.
11% of respondents preferred loan up to 70%.
5.18 Distribution of Respondents in terms of percentage of Cost required as loan
Chart - 18
74
5 .19 Distribution of Respondents in terms of customer service
Table - 19
75
PERCENTAGE OF LOAN REQUIRED
11%
24%
65%
UPTO 70%70-85%85-90%
S.NO ETA RESPONDENTS PERCENTAGE
1 HIGHLY SATISFIED 42 31%
2 SATISFIED 56 40%
3 AVERAGE 36 25%
4 DISSATISFIED 6 4%
5 HIGHLY DISSATISFIED 0 0
TOTAL 140 100 %
Interpretation:
40% of respondents are satisfied with ETA
31% of respondents are highly satisfied with the companies performance.
5 .19 Distribution of Respondents in terms of customer service
Chart - 1976
5 .20 Distribution of Respondents by their preference over ETA
Table - 20
77
CUSTOMER SERVICE
31%
40%
25%
4%0%
HIGHLY SATISFIED
SATISFIED
AVERAGE
DISSATISFIED
HIGHLY
DISSATISFIED
S.NO MOST RESPONDENTS PERCENTAGE
1BETTERBUSINESS
RELATIONSHIP54 39%
2 CUSTOMERSERVICE 82 59%
3 OTHERS 4 2%
TOTAL 140 100 %
Interpretation:
Out of 140 respondents 59% of respondents are for customer service and 39% of
respondents are for better business relationship
5 .20 Distribution of Respondents by their preference over ETAt
78
Chart - 20
STATISTICAL ANALYSIS
CHI SQUARE TEST
Hypothesis:79
39%
59%
2%
BETTER
BUSINESS
RELATIONSHIP
CUSTOMER
SERVICE
OTHERS
To find out the relation between building and the customer satisfaction of the
respondents
Null Hypothesis:
HO : There is no significant relationship between building and the customer satisfaction
of the respondents
Alternative Hypothesis:
H1 : There is a significant relationship between building and the customer satisfaction of
the respondents
Find out tabulated value
Tabulated value is found out from the table at a specified significant level.
If the calculated value is less then the table we have to accept the hypothesis
If the calculated value is higher than the table we have to reject the hypothesis
Association between building and customer satisfaction:
80
type of building prefered * feedback about customer satisfaction Cross tabulation
Count
feedback about customer satisfaction
Totalhighly
satisfiedsatisfied average dissatisfied
type of building prefered
luxury flat 5 21 11 1 38
villa 4 10 2 2 18
duplex houses 18 12 10 2 42
apartments 15 12 14 1 42
Total 42 55 37 6 140
Chi-Square Tests
Value dfAsymp. Sig. (2-
sided)
Pearson Chi-Square 17.997a 9 .035
Likelihood Ratio 18.435 9 .030
Linear-by-Linear Association 1.457 1 .227
N of Valid Cases 140
INFERENCE:
Since the calculated value is less than the table values the hypothesis is
accepted. So it can be concluded that there is no significant relationship between type of
building and Customer Satisfaction of the company concerned
RANK CORRELATON
81
Correlation between Amenities and security factor which considered important
for the apartments
To find out relationship between Amenities and security the research used by Karl-
Pearsons
Correlation between Amenities and security
AMENITIES RANK SECURITY RANK D D2
34 1 38 1 - -
30 2 16 5 -3 9
20 4 32 2 2 4
26 3 18 4 -1 1
16 5 22 3 2 4
8 6 14 6 - -
18
Correlation Coefficient
= 1- 6ED2/ n3- n
= 1- 6(18)/63 -6
= 1- 108/210
= 1-0.514
= 0.48
The value is positive
Since there is a low degree
Of positive Correlation it is infered that amenities and Security factor may not have
influence on one another.
82
ANOVA CALCULATIONS
ANNUAL INCOME VS BUDGET OF FLAT
Budget
Annual Income
35 – 40 LACS
40 – 50 LACS
50 – 60 LACS
ABOVE 60 LACS TOTAL
5 – 8 LACS 4 3 1 2 10
8 – 10 LACS 9 8 5 6 28
10 – 15 LACS 15 10 3 6 34
ABOVE 15 LACS38 13 7 10 68
TOTAL66 34 16 24 140
HYPOTHESIS: There is a significant difference in the Annual Income of the customer and Flat budget preferred by customer
Correction factor = 140*140 = 19600 = 1225 16 16
Sum of squares between column = 66 2 + 34 2 + 16 2 + 24 2 _ correction factor 4
= 1586 – correction factor
= 1586 - 1225
= 361
V = c -1= 4-1 =3
Sum of squares between rows = 34 2 + 28 2 + 10 2 + 68 2 _ correction factor 4 = 1666 – 1225 = 441
83
Total of sum of squares = 42 + 32 + 12 + 22 + 152 + 102 + 32 + 62 + 382 + 132 + 72 + 92 + 82+ 52 + 62 + 102 _ correction factor = 2378 - 1225= 1153
Sum of squares of Residual:
= 1153 - ( 441 + 361 )
= 351
V = ( 4 – 1 ) ( 4 – 1 ) = ( 3 ) ( 3 ) = 9
Sources of Variation
Sum of Squares
Degree of Freedom
Mean sum of squares
Ratio of F
Between Samples
361 3 120.33 3.085
Between Rows 441 3 147 3.769
Residual or Error 351 9 39
1153 15
Degree of freedom = ( 3,9 ) ( 3,9 )
Calculated value table value 3.085 3.86
3.769 3.86
Hence the calculated value is less than the table value so the hypothesis is accepted at 5% level of significance. There is a significant difference in the Annual Income of the customer and Flat budget preferred by customer
84
ANNUAL INCOME VS TENURE FOR REPAYMENT
Tenure of repayment
Annual Income
UPTO 5YRS
5-10 YEARS
10-15 YEARS
15 – 20 YEARS
TOTAL
5 – 8 LACS1 3 4 2 10
8 – 10 LACS2 9 16 1 28
10 – 15 LACS2 11 11 10 34
ABOVE 15 LACS5 19 32 12 68
TOTAL10 42 63 25 140
HYPOTHESIS: There is a significant difference in the Annual Income of the customer and in their tenure for repayment
Correction factor = 140*140 = 19600 = 1225 16 16
Sum of squares between column = 10 2 + 42 2 + 63 2 + 25 2 _ correction factor 4
= 1614.5 – correction factor
= 1614.5 - 1225
= 389.5
V = c -1= 4-1 =3
Sum of squares between rows = 34 2 + 28 2 + 10 2 + 68 2 _ correction factor 4 = 1666 – 1225 = 441
Total of sum of squares = 12 + 32 + 42 + 22 + 22 + 92 + 162 + 12 + 22 + 112 + 112 + 102 + 52+ 192 + 322 + 122 _ correction factor
85
= 2272 - 1225= 1047
Sum of squares of Residual:
= 1047 - ( 441 + 389.5 )
= 216.5
V = ( 4 – 1 ) ( 4 – 1 ) = ( 3 ) ( 3 ) = 9
Sources of Variation
Sum of Squares
Degree of Freedom
Mean sum of squares
Ratio of F
Between Samples
389.5 3 129.83 5.39
Between Rows 441 3 147 6.11
Residual or Error 216.5 9 24.05
1153 15
Degree of freedom = ( 3,9 ) ( 3,9 )
Calculated value table value5.39 3.866.11 3.86
Hence the calculated value is more than the table value so the hypothesis is rejected 5% level of significance. There is no significant difference in the Annual Income of the customer and in their tenure of payment.
86
CHAPTER – VI
FINDINGS
87
5. SUMMARY OF FINDINGS & SUGGESTIONS:
5.1 FINDINGS:
The following are the finding of the present study.
Majority (35%) of the respondents are under the age group of above 46 years.
Majority (50%) of the respondents are postgraduate.
Majority (29%) of the respondents are businessman and private employees.
Majority (49%) of the respondents are earning 15 lakhs & above per annum.
Majority (51%) of the respondents came to know about ETA through
newspaper/media.
Majority (30%) of the respondents preferred apartments and duplex houses.
Majority (48%) of the respondents are preferred flat range between 35-40 lakhs.
Majority (42%) of the respondents preferred 2BHK+study.
Majority (38%) of the respondents choosed ETA for its reputation.
Majority (31%) of the respondents ranked location as a most important factor for
a building.
Majority (43%) of the respondents preferred intercom facility in their flat.
Majority (96%) of the respondents preferred home loan.
Majority (56%) of the respondents preferred nationalized banks.
Majority (67%) of the respondents are aware about these banks through
newspaper/media
Majority (67%) of the respondents accept the Bank recommended by the builders
Majority (73%) of the respondents preferred floating rate of interest.
Majority (45%) of the respondents preferred 10 - 15 yrs as their tenure for
repayment
Majority (65%) of the respondents preferred 85 – 90% cost of the flat as loan
Majority (40%) of the respondents of them are satisfied with customer service
offered by ETA Star.
Majority (59%) of the respondents of them preferred ETA for their customer
service
88
CHAPTER – VII
SUGGESTIONS
89
SUGGESTIONS:
ETA Star Property Developers may further improve their relationship with their customers.
ETA Star Property Developers may improve their customers relation-department to identify all the needs expectations and satisfaction of the customer who are approaching them
ETA STAR Property Developers can concentrate on media also because it leads to increase their sales
ETA STAR Property Developers can rise importance to duplex type of apartment because customers have equal preference over luxury apartments.
ETA STAR Property Developers can make joint venture with Banks in order to provide better mortgage facilities or Home loans for the customers.
ETA STAR Property Developers can make periodical customer grievances meeting for getting the feed back about their product and earn good will.
ETA STAR Property Developers may still improve better relationship with all banks by having regular meetings with decision making authorities once in three months
90
CHAPTER – VIII
CONCLUSION
CONCLUSION:
91
The researcher has complete the project namely, ANALYSIS OF CUSTOMER
RELATIONS SERVICES WITH REFERENCE TO AVAILING OF HOME LOANS
FROM BANKS IN ETA STAR GROUP IN CHENNAI CITY. Customers who have
been contacted have expressed their fullest satisfaction in the performance and credibility
of the organization.
Its appears that the dream of the home loan seekers have come true and number
of families have been benefited with existing quality of construction as well as speed in
which the bank loans where disbursed.
92
BIBLIOGRAPHY&
REFERENCE
93
BIBLOGRAPHY:
Philip kotler, Marketing Management, Prentice Hall of India pvt limited ,
NewDelhi ;2006
Kothari C.R; Research Methodology, Sultan Chand&Sons, New Delhi;1997.
A.Sriramulu, Higher Secondary First year Commerce, Nagiah chetty &
co,Chennai;2005
Pillai. R.S.N & Bagavathi,Marketing; Sultan Chand&Sons, New Delhi;2004
Websites:
www.etastar.com
www.google.com
www.yahoo.com
www.wikipedia.com
www.apnaloan.com
www.lichousingloan.com
www.icici.com
www.sbihomeloan.com
www.iob.com
94
ANNEXURES
95
ANALYSIS OF CUSTOMER RELATIONS SERVICES WITH REFERENCE TO AVAILING OF HOME LOANS FROM BANKS – A STUDY FOR ETA STAR GROUP IN CHENNAI CITY
QUESTIONNAIRE
1. Name of the customer:
2. Age: a) BELOW 25YRS b) 25-35 YRS c) 36-45YRS d) 46 AND ABOVE
3. Educational Qualification: a) Undergraduate b) post graduate c)others
4. Occupation: a) Business b) Professional C) Govt d) Pvt e) Self Employed
5. Income [per annum]: a) 5 - 8 Lac b) 8 - 10 Lac c) 10 – 15 Lac d) 15 Lac and above
6. How do you come to know about the company ETA Star: a) Through Newspaper/Media b) Through Hoardings c) Through Known person d) Others (please specify) ----------
7. What type of building property you prefer: a) Luxury Flats b) Villa c) Duplex Houses d) Apartments
8. At what budget do you want a flat: a) 35 – 40 Lac b) 40 - 50 Lac c) 50 – 60 Lac d) 60 Lac and above
9. What type of flat/Apartment you prefer to buy: a) 2BHK b) 3BHK c) 2BHK+Study d) 3BHK+Study
10. Why do you choose ETA Star Property Developers : a) Brand Name b) Reputation c) Quality d) others
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11. Rank the below factors which you consider as important for the flats: a) Amenities b) Vaasthu c) security d) location e) Infrastructure f) others (please specify)
12. Do you prefer a flat with Intercom facilities connecting other flats: a) Yes b) No
13. Are you interested in availing a home loan: a) Yes b) No
14. Which financial institution you prefer if you are going for a home loan: a) Nationalized Banks b) Private Banks c) Non Banking Financial Institution d) Others (please specify) ----------------------
15. How do you come to know about these banks: a) Through Newspaper/Media b) Through Hoardings c) Through ETA Star executive d) others (please specify) 16. Will you accept if the builder recommends a bank for availing home loan : a) Yes b) No
17. What will be your preference on the rate of interest for home loan : a) Floating b) Fixed
18. What will be your tenure for repaying the home loan: a) upto 5 yrs b) 10 yrs c) 10 to 15yrs d) 15 to 20 years
19. How much percentage of the cost do you require the loan: a) Upto 70% b) 70 to 85% c) 85 to 90 %
20. Give your feed back about the Customer Service of ETA star company: a) Highly satisfied b) satisfied c) average d) dissatisfied e) highly dissatisfied
21. Which of the following do you think will make ETA the most preferred company: a) Better business relationship b) Customer service c) others please specify…………………….
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