To explore the potential of Talegaon for real estate development and customer preferences and the Socio economic classification
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. This study focus on the opportunities created by government by the way of bringing the investment in the industrial sector through which jobs are going to increase, here we also focus on the points like the environmental factors which are in favor, basically this study is 360 degree study of Talegaon keeping real estate in mind.
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To explore the potential of Talegaon for real estate development and customer preferences and the Socio economic classification
- 1. 1 Research paper To explore the potential of Talegaon for real estate development and customer preferences and the Socio economic classification By *Alok S. Mokase ABSTRACT Need for this research came from the problem that Disha Direct was facing as what we can create in Talegaon in real estate sector. This study focus on the opportunities created by government by the way of bringing the investment in the industrial sector through which jobs are going to increase, here we also focus on the points like the environmental factors which are in favor, basically this study is 360 degree study of Talegaon keeping real estate in mind. INTRODUCTION Talegaon has become hot destination for the affordable housing for those who cannot afford to have their house in the cities like Pune and Mumbai, it is obvious due to various reasons, and yes here in this research we are going to focus on these things. Talegaon is situated on the outskirts of Pune. This beautiful town is surrounded by the lush-greenery and the scenic view of Indrayani River and Sahyadri Range. It is situated at the highest altitude and between the two metro cities of Maharashtra - Mumbai (120km) and Pune (35km). It is at a higher altitude (i.e. 2200 ft) than the famous nearby hill station Lonavla (i. e. 2047); therefore, it has a pleasant climate throughout the year. The population of the Dormitory town of Talegaon is growing fast due to ready availability of the infrastructure facilities and a good network of transport facilities with frequent local rail linkages at regular intervals providing connectivity to many places like Lonavala, Dehu Road, Pimpri, Chinchwad, Khadki and Pune. The trend of development of the town can observe in all the directions around it.
- 2. 2 The town is growing partly on the Station road, Chakan road and to the west of Kadolkar colony as there is rare scope for development on the east side due to limitations faced by Dehu Road cantonment, nearby agricultural fields and sloppy grounds. Finest Location & Connectivity Talegaon’s biggest USP is its location. Imagine living in the center of Maharashtra’s popular industrial triangle Mumbai-Pune-Nashik that gives you the joy of living in a hill station along with the added benefits of easy connectivity to the important nearby towns. Talegaon is a town that keeps you away from the hustle-bustle of the city life, yet provides you with the best of all the luxuries. The town is well connected through expressway, national highway, and railway. Some of the important roads passing through Talegaon are National Highway 4 (AH 47), Old Mumbai-Pune Highways and Talegaon-Chakan Road. The famous Mumbai-Pune Expressway is just 4 KM away from Talegaon. The Mumbai-Pune Expressway has greatly reduced the travel time between Mumbai (2hrs) & Pune (30mins). Moreover, it has helped many IT and MIDC employees from Mumbai and Pune to commute hustle-free. Talegaon is also a very prominent and important railway station coming under Pune’s local rail network. It is in fact one of the major terminals on the Pune- Mumbai rail route. Some of the important trains taking halt at Talegaon are Sahyadri Express, Deccan Express, Koyna Express, etc. Even though the Pune International Airport is 40km away from Talegaon, one can easily reach there in about an hour because of good road connectivity. There is also a new proposed international airport at Chakan near Talegaon, which is in its early stages of land acquisitions. Industrial and IT Park Development Talegaon is currently the top spot of IT and Industrial development since many companies have swooped down to invest here, as it offers excellent connectivity and healthy atmosphere. Proximity to the Hinjewadi IT-Park (30KM) and Talawade MIDC & IT-Park (15KM) is among the top reasons for the drastic growth of the Talegaon realty market. Other major industrial zones in and around Talegaon are Talegaon MIDC, Chakan MIDC (16KM), Bhosari MIDC (18KM) and Moshi MIDC
- 3. 3 (22KM). There are various Agro based industries and automobile companies also based in Talegaon. The presence of reputed automobile companies in Talegaon MIDC has attracted foreign investors. Industries and companies in and around Talegaon, responsible for the development IT Automobile Floriculture Engineering Pharmaceutical Others Siemens General Motors A One Biotech JCB Veeprho Lab KSH Logistics Geometric Volkswagen Berrys Roses And Petals Cummins Engineering Hindustan Antibiotics Ambuja Cement KPIT Cummins Bajaj Rujul Agro Kirloskar Oil Engines Ambey Pharma Ltd Hindustan Petroleum Capgemini Land Rover Samruddhi Flora Farmtech Sandvik Vipra Pharmaceuticals Finolex Cables Ltd Syntel Tata Motors Yashwant Milk And Agro PARI Robotics Talegaoninfo.com Force Motors KSH Distriparks L&T RapportSoft Consulting Mahindra POSCO India Satya Vijay Technologies Mercedes- Benz FEV India Quick Heel York India Ltd. Forbes Marshall Premier Motors Fiat Bridgestone Hyundai ARAI Schaeffler These companies have set up their manufacturing units, HQ, R&D Center, etc. The Govt of India is also in talks with Foxconn Technology – Apple’s iPhone Manufacturer, to set up their manufacturing unit in Maharashtra & it’s being speculated that it may come up at Talegaon, Pune.
- 4. 4 The establishment of all these industrial sectors and IT Hubs in and around Talegaon has given rise to the realty market, which has gradually created massive employment opportunities. This is the reason that more and more people are attracted towards settling down in this town. Climatic Condition Talegaon is best known for its pleasant climate and the unpolluted natural air. It also has many Lakes and hence called Talegaon, its literal English translation would be “Laketown”. Regardless of rapid urbanization and development, Talegaon has managed to retain its clean and green environment. Since, it is situated at higher altitudes than the nearest hill station Lonavla, one can experience beautiful climate throughout the year. At Talegaon, one can easily get the joy of experiencing all the seasons of the year. It is advisable, for you to take special care while visiting Talegaon during rainy season as you may face heavy downpour between June to September. The climate of Talegaon is ideal throughout the year for residential housing. Its pollution free atmosphere and scant population makes it an attractive destination.
- 5. 5 Infrastructure Facilities Surrounded with beautiful picturesque beauty of nature, Talegaon has undergone a massive development over a decade and has witnessed remarkable growth in almost all sectors. Its infrastructural developments have emerged to such an extent that it has successfully improved the standard of living in Talegaon. Below mentioned is a list of some of the prominent infrastructural development taken place in Talegaon Malls & Shopping Centers Javan Mall, More, Arunima Mall, Om Supermarket, Gurudatt Supermarket, Maharaja Supermarket, Laxmi Supermarket, etc. Entertainment – Fun Square, Kalapini Rang Mandir, Neha Talkies, Shivaji Talkies, Naina Talkies, etc. Hospitals MITMIMER Hospital,Sevadham Multispecialty Hospital, Pioneer Hospital, Atharva Accident Hospital, Bhausaheb Sardesai Hospital, Paranjpe Eye Hospital, Talegaon General Hospital, Sanjeevani Hospital, Bade Accident and Multi-Specialty Hospital, Sushrut E.N.T. Hospital, Ashirwad Nursing Home, etc. Schools The Heritage School, BK Birla Centre for Education, High Vision English Medium School, Hutchings High School, etc Colleges DY Patil College of Engineering and Management, MIMER Medical College, Maharashtra Institute of Physiotherapy, Tolani Maritime Institute, Indira College of Engineering and Management, Kirloskar Institute of Advanced Management, Nutan Maharashtra Vidya Polytechnic, etc. Hotels & Food Joints Lotus Inn, Green Leaf Restaurant, Dominos, G D Executive, Adventure Sports & Theme Park – Adlabs Imagica (Khopoli),Paragliding, Della Adventure Park, Kumar Resort (Lonavla), etc.
- 6. 6 Famous Tourist Destination Karla Caves, Bhaja Caves, Vadivali Lake, Badsa Caves, Kondeshwer Temple, Prati Shirdi, Celebrity Wax Museum, Bhandar Dongar, Jadhav Wadi Dam, Induri Fort, etc. This chosen town is one of the finest townships to live-in when it comes to improving your lifestyle in all sense. In Talegaon, you can be sure about living in the middle of absolute tranquility and in the arms of our beautiful Mother Nature that will nurture you with the best of its climate and natural surroundings. It is also said to be the best-recommended town for individuals suffering with illnesses such as heart diseases, respiratory disorder, psychological imbalance, unhealthy lifestyle, etc. Apart from the major growth taken place in Talegaon, it has also witnessed a substantial growth in the availability of basic facilities at a stones thrown away. These factors have greatly attracted individuals from Mumbai and Pune to invest in the Talegaon property market. Moreover, today Talegaon has emerged to become more than a weekend destination and competing with other important localities of Mumbai and Pune. Many investors consider Talegaon for its varied property options that too at a highly affordable price. In Talegaon one can find projects ranging from independent homes to residential apartments in all sizes and budgets. Talegaon is said to be the best town for retirees, holiday homes, and budget homes.
- 7. 7 Many renowned investors and developer from Mumbai and Pune are attracted to this town for its natural beauty, excellent connectivity, and excellent infrastructural development. Developers are coming up with unique concepts for developing World-Class Townships that offers top amenities and services. Talegaon is certainly a chosen destination for all those people aiming to build their dream home in a town that assures connectivity, better climate, excellent infrastructure and facility for their loved ones at an accessible distance. COMPETITIVE ANALYSIS There are almost 200+ real estate projects are going on, few of which are Current Projects at Talegoan: 1) Silver Vally 2) RAO colony 3) Eco City 4) Orchids and Garden 5) Buona Vita 6) Hillock Towers 7) Suyash Green 8) Sarovar 9) Giriraj 10) Radhe Krishna Apt 11) Urban Life 12) Eagle’s next 13) Dwaeka Tale 14) Lake shore Residency 15) Rain Forest Talegoan 16) My Homes Talegoan 17) Mohar-Pratina Builder’s (Current projects) 1) Mohar 2) Manav Group 3) Namrata Group 4) Saga Ventures 5) Artha Raj Reality
- 8. 8 CURRENT PRICES IN THE TALEGAON Real Estate Pricing 1 BHK Flat-613 sq ft-20 lac-24.20 lac-Rs 3262-Rs 3941 per sq Ft 2 BHK Flat-967 sq ft-31 lac-39.40 lac-RS 3205- Rs 4078 per sq Ft Residential House Highest locality price-4657 Per Sq Ft…….went up by 7% in last 3 mnths Avg locality Price- 3824 Per Sq Ft………Went up by 1 % in last 3 mnths Lowest Locality Price- 2992 Per Sq Ft…… went down by 6% in last 3 mnths Residential Plot: Highest locality price 7691 Per Sq yaard…….went up by 209% in last 3 mnths Avg locality Price- 6062 Per Sq yaard………Went up by 200 % in last 3 mnths Lowest Locality Price- 4433 Per Sq yaard…… went down by 6% in last 3 mnths By looking at this data we could figure out that the competition is soaring at a very high speed and with the increasing competition the real estate prices are also increasing but still more and more new projects are coming up as the requirement or demand has increased manifolds.
- 9. 9 PESTEL Political: Current political party has taken great initiative towards various aspects of development, like we could see them delivering, what they have mentioned in their manifesto - Strategically developing Labor intensive sectors like textile, infrastructure, housing and Tourism - Strengthening the traditional employment bases of agriculture and allied industries, and retail through modernization - Transform Employment Exchanges into Career Centers - Ensure that a conducive, enabling environment is created making 'doing business' in India easy - Ensuring logistics infrastructure, including stable power - Reviewing and reviving MSME sector and enabling it with better access to formal credit and technology for modernization. Economical: - Reduced taxes, tariffs and trade barriers - Special subsidy to the companies those who are investing in India - Increased FDI in real estate - Make in India campaign - Investment plans by FOXCONN in next five years - Expansion plans of GENRAL MOTORS - Investment plans by POSCO Social: - BJP wining by such a big difference is the proof that people were craving for the change and are in support of the new government - The general consensus in Indian industry is that corruption at the highest level, perceived as being widely rampant in UPA2, has seen a dramatic decline. "The introduction of auction of coal and telecom has done wonders for transparency," ( from ET) - Belief on Good governance - Want for Improved life style - Spending mentality - Good will for the government
- 10. 10 Technological: - E- governance to reduce the bureaucracy - E-tenders to avoid corruption during tender filling and equal opportunity to all contractors - Improved infrastructure - Availability of technologically sound people - Introduction of latest technology in Floriculture and also manufacturing Environmental: - Its natural beauty and unpolluted climate makes Talegaon a popular town for holiday/weekend homes. This beautiful town is surrounded by the lush-greenery and the scenic view of Indrayani River and Sahyadri Range. It is situated at the highest altitude and between the two metro cities of Maharashtra - Mumbai (120km) and Pune (35km). It is at a higher altitude (i.e. 2200 Ft) than the famous nearby hill station Lonavla (i.e. 2047 Ft); therefore, it has a pleasant climate throughout the year. - The city is surrounded by many lakes hence the name Talegaon (City of Lakes), which the adds beauty to the city - Because of these reasons, Talegaon has emerged as one of the most preferred location for investors looking for affordable homes which also provide excellent connectivity and good returns. Legal: - Controlling by government on what to produce - Employees Protection legislations to ensure that big industries don’t exploit the people working - Legislations for health and Safety at work and restrictions on environmentally hazardous products and their manufacturing units - Protect employees against unfair dismissal - Ensure fair wages for the employees and equal chances of growth - Various Consumer Protection legislations - Policies for acquisition of the land to protect the rights of the land holder
- 11. 11 INVESTMENT BY FOXCONN AND GM Foxconn signed an agreement with the Maharashtra government to invest $5 billion in the state over the next five years, the largest investment till date. The agreement is signed by the state’s industry secretary Apurva Chandra and Foxconn’s chief financial officer David Huang. Maharashtra’s chief minister Devendra Fadnavis and Foxconn’s chairman Terry Gou were present on the occasion. Foxconn manufactures gadgets for world’s leading electronic brands, including Apple, Huawei, Xiaomi, BlackBerry and Motorola. This is second major coup for Maharashtra in the past fortnight. On 30 July, General Motors announced an investment of Rs.6,400 crore in the state. “This investment will generate 50,000 direct jobs and the (Foxconn) plant is most likely to come up at Talegaon in Pune district along the Pune-Mumbai expressway on 1,500 acres of land that government of Maharashtra have in possession.” General Motors, the world’s second-largest automaker, plans to invest $1 billion in India by 2020. The announcement follows the company’s decision on Tuesday to invest $5 billion in global growth markets like Brazil, China, Mexico and India. The fresh investment will be used primarily to expand the capacity at the Talegaon plant from 130,000 units a year to 220,000 by 2025. “GM cannot remain a global leader without making a serious investment in expanding presence in growth markets like India,” Chief Executive Mary Barra said. Therefore, it seems very certain that with increasing job opportunities, people will shift to these areas. And in time they might want buy a house in Talegaon, and we can say that this creates a very good opportunity for the companies in real estate to be ready with the required inventory of residence. On the other hand, to create amenities for these people those who are used to a life style where they want to spend money on shopping and movies and pend their weekend at some place good. Currently Pune and Lonavala are one of those places where people generally go but in future same environment can be created in Talegaon itself.
- 12. 12 Population growth Population growth is as crucial as it is important to study. If we look at it as a real estate per se, everything that we are thinking of building is related to the population. If we want to develop resident apartments, we need to look at what would be the absorption of the flats in a specific period, if any mall or commercial complex we need to look at consumption rate of good or we can quote it like, we need to look at “Attitude to spend money” & “Ability to spend money”. This statement raises a question that ‘Even if people have money, do they want to spend..?’ or ‘they want to spend but do they have money..?’ These questions are very tricky and ambiguous to answers but still we need to study them and try to answers as much as possible. Growthtrend in Talegaon: The population of a small town Talegaon is increasing at rapid speed the main three reasons for that is, 1. Good network of transport facility by road and railways to two major cities i.e. Pune and Mumbai and soon in near future by air, as government have proposed plans for new airport at Chakan for which initial land acquisition fund has already been created but due to some reason it has stopped 2. Ready availability of the infrastructure 3. Increasing investments in industries and new proposed plant of FOXCONN at Talegaon MIDC Employment Generationmethod In this method, the population is projected using the growth rate (Birthrate – Death rate) and the total migration according to the total migration according to the availability of the jobs. Total population (phase-wise) Sr. No. Criteria Existing Projected (2026) Phase I (2011-2016) Phase II (2016-2021) Phase II (2021-2026) 1 Primary (Jobs) 1610 1087 326 326 435 2 Secondary (Jobs) 7679 16166 4850 4850 6466 3 Tertiary (jobs) 7209 12264 3679 3679 4906 4 In Migration (population) 13283 39847 11954 11954 15939 5 Natural Increase (population) 34553 11517 11517 11517 6 Population 79566 153965 103037 126509 153965 Source: Census Data 2001, 2011; Primary survey of Talegaon, Jan'2012
- 13. 13 By looking at the data we can say that the population of Talegaon is going to increase by 53,000 and if we consider average family size as 4 people, the requirement for housing would almost be 13250 in next Ten years. Let us say 50% of which will still be living in the same house, in which they are right now, even still there would be a need for 6500 houses in next 10 years. So if any builder wants to go for opening any new residential apartments system, there would be good absorption rate. STATEMENT OF PROBLEM To explore the potential of Talegaon for real estate development and customer preferences and the Socio economic classification OBJECTIVES OF THE STUDY 1. Factors responsible for development of Talegaon 2. Current scenario (i. e. PESTEL) 3. To evaluate mindset if consumer and preferences 4. Socio Economic Classification RESEARCH METHODOLOGY REASEARCH DESIGN Following is the research design that we have followed SECONDARY SOURCES The various secondary information used for research include various published and non-published works including books, magazines, journals, websites and news which can add value to the research PRIMARYSOURCES A well-structured questionnaire was prepared and verified and then we went to the market with those questionnaires and conducted in depth interviews of the different stack holders and working professional. During the in depth interviews, we got many interesting insights. And those insights helped us to improve the questionnaire and some other things which were not included in the questionnaire like people wanted D’mart.
- 14. 14 SAMPLINGMETHOD We have used probabilistic sampling in which we used simple random sampling so that after analyzing reports we can generalize the results for bigger population size. SAMPLE SIZE The sample size for the study is 411 by simple random sampling. AREA OF STUDY The area for study we choose is Pune district. But some online respondents are from other areas. TOOLS USED To analyze the data I have used Data analytics, advance excel, Anova test, Correlation test and SPSS software to use these tools.
- 15. 15 ANALYSIS AND INTERPRETATION OF THE DATA Particular Frequency Percentage Particular Frequency Percentage Gender Education Male 315 76.64 UG 125 30.41 Female 96 23.36 Graduate 169 41.12 Total 411 100 PG 31 7.54 Doctorate 17 4.14 other 69 16.79 Total 411 100 Age Marital status Below 20 45 10.95 Married 235 57.18 21 to 30 191 46.47 Single 176 42.82 31 to 45 114 27.74 Total 411 100 46 to 58 37 9.00 above 58 24 5.84 Total 411 100 Annual Income Annual Savings Up to 2 lakh 175 42.58 10k to 20k 243 59.12 2 to 5 lakh 161 39.17 20k to 50k 85 20.68 5 to 10 lakh 31 7.54 50k to 1 lac 37 9.00 10 to 20 lakh 20 4.87 1lac to 2 lac 26 6.33 20 to 30 lakh 15 3.65 2 lac to 5 lac 12 2.92 30 lakh + 9 2.19 5 lac + 8 1.95 Total 411 100 Total 411 100 Source:- Primary Research
- 16. 16 As we could see in the table 76.64% of the respondent are male and 23.36% are female, as far as education is concerned most of the people are graduated i. e. 41.12% , UG are 30.41%, PG are 7.54, doctrate are 4.14% and other are 16.79% of the total. If we look at the age group most of them are in the age group of 21 to 30 i.e. 46.47% and most certainly this is the age group we will be targeting if we think of coming up with any project, wheather it is comercial complex, mall/theater or recedent apartments. If we think of there earnings the most of them are earning upto 2 lakh i.e. 42.58% and 2 to 5 lakh 39.17%. This seems to be the same younge crowd which started working in the industries those are there in telegaon. People here in talegaon do belive in savings and most of then do try to save money as per their capacity, 59.12% can save about 10k to 20k per annum, 20.63% can save around 20k to 50k, few can save upto 50k to 100k i.e. 9%, 6.33% pepole can save upto 1lakh to 2lakh, 2.92% people can save upto 5 lakh and only 1.95% can save more than 5lakh. As Talegaon has become an industrial hub, it was quite expected, that most of the people there would be salaried employee i.e. 31.5%, the second highest employment is through the business which is actually good i.e. 30% , self-employed are 13.3%, unexpectedly the shocking thing is the farmers are very less i.e. 0.3% only. Here we are not considering the people those who are involved in horticulture business because that cannot be into farming.
- 17. 17 Here it shows that most of the people are having their own house are 65.3% and people living on rent are 30.5%, only 0.3% people live on PG, students from outside prefer hostels are 2.5% and people visiting Talegaon but lives in nearby villages are 1.5%.
- 18. 18 The shoppning frequecy is one of the important factor we should look at, if any one thinking of oppening of a mall this could be a decideing factor as people might visit the mall when it is new but what after that, will they revisit the mall, or how often they are going to visit which is directly proportional to the frequency there shopping and this data gives anwser to that question, here in talegaon people do go for shoppig once a week are 16.6%, Twice a week 7.3%, once in a month 58.3%, Three to four times in a month is 6.8%, some are impulsive buyer 3.8% and there are people who only buy on occasion are 7.3%.
- 19. 19 This question helps in deciding what should we open in that perticular mall and clearly here MacDonald seems to the most known and liked one i.e. 75.9% people want to have Mcdonald in talegaon, after that Dominos i.e. 45.7% and they have grabbed this opportunity and oppened their store there. Following dominos CCD is choice of 44.8% people. When asked this question 86.1% of the people said yes, a mall shpuld be opened in talegaon, but according to me talegaon is good market to open separate fast food store but not the Big mall as we don’t have any certenty that people will come and buy stuff in mall at talegaon, Even if someone open a mall it will run dood for some time but will face difficulty even in chieving break even after some time. I guess people are not yet reddy to have mall in that area, we should wait till the population increase it self will help us to get that crowd for mall.
- 20. 20 As we have seen that most of the respondents are in low and medium income group but still they by branded stuff as they are young and just started earning, this data says 65.2% of the total respondent buys branded products and 15.9% are not sure about, whether they will or not.
- 21. 21 This could also be a good opportunity, as there is not any big movie theater in Talegaon. People prefer to go to Fun Square, as it is the only barely maintained Movie Theater. Which is preferred by 60.2% of the respondent and just after that shivaji Movie Theater, which is preferred by 59.3%, there, is not any big difference between preference for Fun Square and shivaji Movie Theater, even those who want to have good movie experience and won’t mind spending little extra go to Pune or Chinchwad for movie. Both these questions asked just to get the attitude of the people towards going to a mall and Multiplex. Means what if, we present you a better place than what you have now but it would be little expensive. What would be your choice and 67.4% of the people agreed to having multiplex and 71.8% people said if given an opportunity they will construct the mall. 32.4% said they would like to build a multiplex in Talegaon and 26.7% says they will go for building Residential Apartments in Talegaon as the demand for the place is increasing exponentially.
- 22. 22 HYPOTHESIS TESTING (ANOVA) Assumption No. 1 The correlation between buying branded products and opinion about should mall come to Talegaon is, 0.345268. This is a positive correlation, which means there is some relation between buying branded stuff and thinking of that a mall should be opened in Talegaon. We can test this with the help of Anova test Ho= There is no relation between people buying branded stuff and going to mall H1= There is relation between people going to mall and buying braded stuff ANOVA Source of Variation SS df MS F P-value F crit Between Groups 35.33007 1 35.33007 27.24286 2.28E- 07 3.85288 Within Groups 1058.235 816 1.296856 Total 1093.565 817 Here F value > Fcrit Therefore, we reject the null hypothesis It means that there is a relation between buying branded stuff and desire to have mall in the city. We could further deduct that big malls are considered a place where people mostly purchase only branded stuff, which are expensive, and mall is not a place for non-branded products. Now this perception could be very dangerous if it is reason because which people don’t want to go to mall, so therefore a mall has be a place more than just buying branded products like a place where people want to spend their weekend or evening.
- 23. 23 Assumption No. 2 Correlation between the type of employment and thinking that a mall should be opened in Talegaon is - 0.10055. This is a negative correlation. This means, will to have mall in city is independent of the type of employment one has. We can test this with the help of Anova test H0= There no significant difference between the type of employment one has and the desire to visit the mall H1= There significant difference between the type of employment one has and the desire to visit the mall ANOVA Source of Variation SS do MS F P-value F crit Between Groups 504.7009 1 504.7009 221.1523 1.96E- 44 3.852894 Within Groups 1859.945 815 2.282142 Total 2364.646 816 Here, F value > Fcrit It means that employment type is related to the willingness to visit the mall This is due to the perception that people do think that only rich people go to mall, or they have the desire to go to mall but knowing the fact that they won’t be able buy the expensive stuff as they don’t have that kind money earning capacity or for the moment the Job. Assumption No. 3 The Correlation between Income level and spending capacity is 0.31185 that means there is positive moderate correlation between income level and spending capacity, which is logically true. We can test this with the help of Anova test Ho= There is no significant difference between income level and spending capacity H1= There is significant difference between income level and spending capacity
- 24. 24 ANOVA Source of Variation SS df MS F P-value F crit Between Groups 15.33496 1 15.33496 38.25934 9.79E- 10 3.85288 Within Groups 327.066 816 0.400816 Total 342.401 817 Here, F value > Fcrit Therefore, there is significant difference between income level and spending of the money The more one earn that much more he/she can spend. This is a very obvious thing but this is not true in case of students who are dependent on pocket money and from home so in this case we have look for his family income.
- 25. 25 SEC (Socio Economic Classification) Socio economic classification is important to study as it helps us identify the financial profile of the people living that particular. This has a standard set of questionnaire. With the help of SEC one can think of what could be offered to those areas and what is the scope of improvement.
- 26. 26 SEC Grade % of people A1 15.76 A2 26.1 A3 26.6 B1 12.8 B2 7.38 C1 4.18 C2 4.92 D1 1.23 D2 0.49 E1 0.49 E2 0 E3 0 Surprisingly Big chunk of People in Talegaon in Talegaon falls under A1 to B2, which is good sign. Because, if you want open a mall in Talegaon. These people will surely be visiting the malls more often but not just that these people do also want to have big one stop shopping Centre like D’mart and spencer’s though there is a More in the city but still it is not big enough as people in Talegaon mentioned during their interview. 16% 26% 27% 13% 7% 4% 5% 1% 1% 0% 0% 0% SEC Of Talegaon A1 A2 A3 B1 B2 C1 C2 D1 D2 E1
- 27. 27 SUGGESTIONS OFFERED 1. Looking at the increase in the population and the opportunities that are coming in the next few years, I would suggest that, if one want to construct something in Taleagaon then they could confidently create a residential apartments. 2. As I said before that, though the people in Talegaon says that they want to have malls in Talegaon. Few of the intellects those who know Talegaon better says people here do have money (Ability), but they won’t be spending that on the mall very often (Attitude) but the good hope is that, we can open super shops like D’mart and spencer’s and fast food chain like Mcdonald and coffee shops like CCD. 3. I see Talegaon as next big upcoming city, as it is the next industrial hub, good connectivity and the best climate to stay. Due to these reasons, Talegaon will get the crowd that like to spend money on movie and often love to visit the mall for shopping and food. Moreover, for that reason if some has properties at premier location should not sell them off and hold for the right time. 4. One thing for sure, as there is not any IT company or BPO center in Talegaon and that offers us to create a commercial complex where we can invite these companies to open their offices. MANAGERIAL IMPLECATIONS 1. With the help of this data, a manager can decide what he could create in Talegaon in a specific time span. 2. This research gives us the rate at which the population is going to increase in phases, so a manager could decide to take the advantage of the increasing population to cater to their needs. 3. Here we also have SEC of the Talegaon and with help of that; a manager could think of offerings those a company could offer to these people. 4. This data tells that how even figures can be deceptive, as we saw that our quantitative data says we should open a mall but qualitative analysis says we should wait until the time is right. This is something a new manager can learn to always look at the other side of the coin and then take the informed decision.
- 28. 28 CONCLUSION As the study here completely focuses on Talegaon, we can conclude that Talegaon is hot destination if one wants to invest as we have seen the appreciation of the real estate prices; Talegaon is evolving as industrial hub and will see as one of the tire II or tire III cites growing at very rapid pace. Due to the connectivity it offers and the climatic conditions it has, Talegaon is definitely a place where people can think of buying a house if they do not want to buy in Mumbai or Pune. As investments are done by various companies in Talegaon due to which plenty of jobs are going to be created which in turn will cause a rapid increase in the population due to migration of the people for jobs. In total we can say that Talegaon is a place for opportunities in all possible ways those we have seen. One just needs to understand and hit the nail at right time. FUTURE SCOPE The SEC we did is of only 411 people, we tried to cover as varied data as possible but still to get the Exact SEC we have to wait for next census. This study mostly conducted in Talegaon but not in the newly created colonies, which actually are the crowd migrated from different cities and craving to have the facilities like mall, Supermarket like D’mart and fast food store. We need to get their perspective in large, which are missing here. The competition has also increased too much and we did not focused on the points through which we can beat the competition.
- 29. 29 Questionnaire for Evaluating mind set of the consumer and to find socio economic classification This questionnaire is the sole property of Disha Direct only and is to be used for professional purposes only. Name: Contact No. Email ID: Gender Male Female Family size 2 3 4 5 6 Joint family 1. Can you pleasetell me the age bracketthat you fall in? (SINGLE TICK ONLY) Age bracket Tick Age bracket Tick Below 20 years 46 to 58 years 21 to 30 years 58 years and Above 31 to 45 years 2. Can you pleasetell me whether you are married or single? (SINGLE TICK ONLY) Marital Status Married Unmarried 3. Can you pleasetell that are you a local or migrant? Local Migrant 4. Can you pleasealso tell me your qualification? (SINGLE TICK ONLY, ALSO NOTE NAME OF HIS HIGHEST DEGREE) Qualification Tick Qualification Tick Under graduate 1 Post graduate 3 Graduate 2 Doctorate 4 Note Name of degree: 5. Can you pleaseelaborateon your type of employment? (TICK TYPE OF EMPLOYMENT SEPARATELY FOR APPROPRIATE PROFESSION MENTIONED)
- 30. 30 Profession Tick Type of Employment Salaried 1 Government PSU Private Pensioner Self employed 2 Lawyer Doctor CA / CS Student Business 3 House wife 4 Farmer 5 6. Can you pleasetell me the bracket in which your annual incomefalls,pleasenotewe justneed your average estimation and in need not be exact value? (NOTE THE CORRECT INCOME BRACKET, SINGLE TICK ONLY) Income Bracket Tick Income Bracket Tick Up to 2 Lakhs 1 10 to 20 Lakhs 4 2 to 5 Lakhs 2 20 lakhs and above 5 5 to 10 lakhs 3 7. Similarly would you be ableto tell me the average annual savings thatyou may be ableto do, after deducting all your personal and professional expenses? (NOTE THE SAVING CORRECTLY, SINGLE TICK ONLY) Savings Bracket Tick Savings Bracket Tick 10,000 to 20,000 1 1 Lakh to 2 Lakhs 4 20,000 to 50,000 2 2 Lakhs to 5 Lakhs 5 50,000 to 1 Lakh 3 5 Lakhs+ 6 8. Do you have your own house or rented house or..? (SINGLE TICK ONLY) Resp. Tick Resp. Tick Resp. Tick Resp. Tick Resp. Tick Rented 1 Own 2 PG 3 Hostel 4 Lives in near villege 5 9. How often you go for Shopping? Resp. Tick Resp. Tick Once in week 1 Three to four time in a month 4
- 31. 31 Twice in a week 2 I am impulsebuyer 5 Once in a month 3 occasionally 6 10. On an avg. How much do you spent on Shopping? Spending Bracket Tick Spending Bracket Tick Below 5000 1 20,000 to 50,000 4 5000 to 10,000 2 50,000 to 1 Lakh 5 10,000 to 20,000 3 1 Lakh + 6 11. Which fastfood or caféstore you liketo visitmore? Resp. Tick Resp. Tick Resp. Tick Resp. Tick McDonald 1 Dominos 4 Barista 7 Starbucks 8 Subway 2 Pizza hut 5 KFC 3 CCD 6 12. Do you think Mall should comein Talegaon? Resp. Tick Resp. Tick Resp. Tick Resp. Tick Resp. Tick Yes 1 May be 2 Neutral 3 Not sure 4 No 5 13. Will you be interested in buyingbranded stuffs? Resp. Tick Resp. Tick Resp. Tick Resp. Tick Resp. Tick Yes 1 May be 2 Neutral 3 Not sure 4 No 5 14. Do you Watch Movies in Cinema Theatre? Resp. Tick Resp. Tick Yes 1 No 2
- 32. 32 15. Where do you go for movies? Resp. Tick Fun squareMultiplex 1 Shivaji Multiplex 2 Lonavala 3 Pune 4 Pimpri chinchwad 5 16. Do you think People will often go to watch movies in multiplex? Resp. Tick Resp. Tick Resp. Tick Resp. Tick Resp. Tick Strongly agree 1 Moderately agree 2 Neutral 3 Moderately disagree 4 Strongly Disgree 5 17. If given choice to build something in the nearby area what would you liketo build? Resp. Tick Resp. Tick Resp. Tick Resp. Tick Resp. Tick Mall 1 Multiplex 2 Commercia l complex 3 Recedential apartments 4 Hotel & Restrurant 5
- 33. 33 Socio Economic ClassificationQuestionnaires Set 1: (Tick what you have from below) Item owned/and have access at home Tick Electricity connections CeilingFan LPG stove Two Wheelers Color TV Refrigerator Washingmachine Personal computer/Laptops Car/Jeep/Van Air Conditioner Agricultural Land Total no. Of ticks Set 2 Chief earners Education (Tick only 1) : Tick Literate butno formal schooling/school upto 4th School 5 to 9 years SSC/HHC Some College (DiplomabutnotGraduation) Graduate/postGraduate:General Graduate/postGraduate :Professional