1] Location identification

For development of any community or any project its identification plays an

important role in terms of project sustenance and project in overall. General
criteria being followed in industry are viability of a land in larger banks which
facilitates developer for better planning of a project with value addition and
external amenities. Further to this it is generally preferred to have land
owned by minimum number of owners thus it would lead to tedious time
consuming procedure for transfer of title and completion of other legal
formalities.

Clear title – It is always very important to select a land which would have
clear legal title which should be transferable and without any encumbrances.
In order to estimate cost being incurred during construction, recommended
to have testing of soil sample for rock, loose earth and ground water level.
Location of a land ideally to have within the proximity of lake or river or
hillock in order to promote the property suitably seeking preference in
premium of buyer.

2] Surrounding infrastructure

Any community will have added advantage and attraction of a market if has
ample supporting surrounding infrastructure facilities. Thus in order to make
the community in good livable conditions it should have well activity in terms
of rail and road to other parts of metropolitan cities where the project will be
located. Thus it is necessary to understand a development plan prevailing
within the proximity of a community for existing and proposed infrastructural
development by the government like Ring Road, flyover, mono rail, metro
rail, airports, rail junctions, etc. In the event of having closer proximity of
some tourist places, monumental places, etc would add value to the
property.

3] Social infrastructure

No community will have sustenance and enjoyable living without

surrounding, supporting and social infrastructure facilities which would fulfill
needs of education, hospitality, retail, medical emergencies, etc. Further
over and above all it is necessary to keep a track of commercial
development in and around the community which in turn would generate
employment opportunities benefitting community in general and society in
particular.
4] Market study

Market study is an important parameter to be considered from the inspection

of a project without which the project cannot get accepted and eventually
would turn out to be economically unviable. Hence within the market study
a trend of demand is to be assessed. This trend would indicate most
acceptable configuration of a product by that market in line with disposable
income level of maximum strata of society which is very important for take
off of project. Market study need not be restricted only up to such extent but
should go step forward and understand products being offered there by the
competitors. Based on such data a suitable design of a product can be
planned which will have a due differentiation from the market and thus help
appropriate positioning to the target audience. Having done market study it
is recommended to have psychological details of a buyer which generally
influence their buying decision. If market is governed by set of belief which
influence the buying decision (for e.g. belief of compliance of vastu).

5] Sequential micro level activities

a] Land acquisition, registration, title transfer.

It is an important process by which transfer of title into the name of

developer happens. In this process generally the services of mediator are
engaged who in turn is well versed with the local landlords. In order to have
optimum pricing benefit it is generally practiced not to disclose identity of a
local developer to the landlords. Hence services of such land consolidators
are availed by way of general Power of Attorney. Such land consolidator
converts the title into their name individually approaching to the various
landlords and their legal heirs. Since it is legally mandatory to have consent
of every legal heir and a landlord the process of obtaining such consent and
eventually transfer it to the consolidator becomes tedious and time
consuming. A factor of land prices ______________ needs to be taken into
account during this process hence entire cost of project would become
haywire. Having received title in the name of the consolidator he
subsequently approached to the developer and transfer the title into the
developer’s name in a consolidated manner which is followed by process of
registration, payment of stamp duties, etc which will eventually make the
developer an absolute owner of land bank.
b] Project planning and placement of various buildings within the available
land.

After completing and finalizing the transfer of title of extent of land the
process of planning the project begins. During this process a brief block
work is being planned to place various buildings within the available contour
of a land. During this process due precaution needs to be taken considering
internal road layout, proximity of various proposed external amenities
(jogging tracks, landscaped gardens, children’s play area, open spaces, etc)
with respect to such building blocks. Proximity from main entry to the
community considering prospective traffic conditions and safety.

c] Statutory approval process.

Once a brief planning of the project is completed it is necessary to approach

to the competent authority for obtaining maximum permissible development
potential within the land bank. It is quite important at this stage to be well
aware about prevailing rules and regulations which would enable developer
to avail optimum floor space index which in turn could be marketed and be
used to generate revenue.

d] Internal planning.

During this process the market study helps to arrive at most acceptable
product range in terms of area offering, in terms of room configuration like (2
BHK, 3 BHK etc), provision of internal amenities which eventually appeal
buyer to take decision in the favor of product vis-à-vis other available options
like provision of pooja room, provision of open deck, provision of
independent maids room etc.

e] Planning of external amenities within community.

During this stage these amenities are planned as a value addition to the
product to generate interest received preferential treatment vis-à-vis others
and premium for price release. Generally these amenities include recreation
facilities like club house, play areas etc. Educational facilities like schooling
to the children of buyers, retail facilities like convenience stores for day to
day belongings to the family. The medical facilities like provision of nursing
homes at a mini scale, jogging track, landscaped gardens, artificial water
bodies, tree lining would be helpful for buyer to have healthy living.

f] Devising Marketing / PR / Corporate campaign.

After completing due planning and other pre-preparations, next step is to

make the market aware about this to generate interest and inquiries. To
start with public relations is an important milestone wherein an officiated
spokesperson would go to media both print and electronic and publicly
announce plans of a company in developing the community and vision
behind it with futuristic foresight. During the process a target audience
being identified and a suitable communication being sent out informing
about introduction of our product into the market. During the next stage of
marketing more direct means of reaching to market are adopted like print
media coverage, outdoor hoarding coverage so as to have maximum
visibility to all segments.

g] Project launch and commencement of sales.

Having completed all prior processes it is now necessary to start offering the
product to the market at price most appropriate to that market. It is
generally understood to have beginning of sales on an auspicious day
wherein formal ground breaking ceremony being done with lot of visibility
into media. Due to hype created prior to this stage generally launch gets
good response in terms of visitors and chain of sense activity begins.

h] Setting up of CRM / Contractual documentation system.

It is necessary to have proper customer responsive mechanism by way of

said system to develop roles with them ensuring complying with all their
concerns and queries, make them satisfied in terms of their buying decision.
It is very important stage in all these activities because one satisfied
customer turns out to be a brand ambassador and promotes the project
voluntarily to others which in turn increases level of inquiry generation.
Along with this, in order to protect mutual interest proper contractual
documentation are to be arrived at which will have mutual binding as service
provider and obligations to be fulfilled mutually by buyer in terms of
receivables.

i] Commencement of construction.

Any project if not delivered as per commitment would lead to severe

dissatisfaction, frustration and damage reputation of a brand. Thus
construction activity has to be backed up by structured construction program
considering all factors like optimum deployment of resources, cost
monitoring to avoid coherence, capturing various costs during budgeting
process, periodical monitoring system with due control of variance.

j] Having delivered the product it is necessary to transfer the title of that

into the name of respective buyer following said procedure by local
government body, this includes entry into an agreement with its registration,
payment of stamp duties etc. Adequate liasoning work is required to be
done ensuring clients to pass through this process as quickly and as hassle
free as possible. After completion of this an association of members or a
society is being formed, registered and all accounts for managing the affairs
are to be handed over to such association relieving developer from his
responsibility.