SOBHA is top choice of Indian Homebuyers once again !
January 24th, 2018
Customer is a king for any business. Their confidence in a brand and its products and services plays a key role in its success in the market. Real estate sector is no exception to that. As a customer-centric Company, SOBHA has been consistent in winning the confidence of the customers year after year. A reflection of this is the recent Track2Realty’s Consumer Confidence Report 20:20 where SOBHA has been voted as Number 1 choice of homebuyers nationally. This is the 4th consecutive year that the Company has won top rank nationally in consumer confidence survey, making it an exceptional and a rare feat achieved by any real estate brand in the country.
The report is one-of-its-kind of comprehensive study on consumer psychology about the Indian real estate market. It evaluates developers on 10 parameters: Timely Delivery; Construction Quality; Matching Promises; Value4Money; Peer Endorsement; Trust & Transparency; Relationship Management; Brand Reputation; Safe Investment; and Amenities & Liveability. SOBHA has emerged as the top choice of buyers countrywide on all the above 10 parameters of evaluation. In addition to this, SOBHA is also the top brand in South India for the 4th time.
What makes this study unique is the fact that it is by far the most scientific monitoring of real estate consumer’s psychograph in the property market in general and housing market in India. It showcases developers who truly believe that customer satisfaction plays a critical role in their business. The report, which is a qualitative and quantitative study of the consumer’s trust and lack of it, throws light on a plethora of insights for the realty players. These, if adopted, will have a long-term positive impact on the sector.
The comprehensive report is based on an evaluation of 500 developers nationally. Out of these, the top 20 developers were gleaned out based on stringent set of parameters. A total of only 88 developers were voted by the consumers with some level of trust and only 7 real estate developers were able to earn a ‘Positive Outlook’ by the consumers at a pan-India level. In terms of the city index of consumer confidence, Bengaluru remained the most bullish city with 34% buyers having an optimistic outlook. Additionally, the least number of consumer complaints were noted from South Indian markets in general and Bengaluru in particular.
Using an exhaustive and meticulous methodology, a large sample size of 10,000 consumers were targeted through one-on-one interviews. These interviews were conducted across 20 cities – Bengaluru, Delhi, Gurugram, Noida, Ghaziabad, Faridabad, Chandigarh, Hyderabad, Chennai, Coimbatore, Kochi, Mumbai, Pune, Ahmedabad, Jaipur, Kolkata, Bhubaneshwar, Lucknow, Bhopal and Indore. The consumers were given a set of 25 open-ended and close-ended questions with an aim to gauge their broader understanding of the real estate market before focusing on likes and dislikes with the developers as well as the industry practices. The responses were assessed and grouped under five key areas: homebuyers’ psychology and real estate understanding, buying pattern and preferences, likes and dislikes, outlook on economy and employment, and appreciation potential and future outlook.
Track2Realty has been monitoring consumer confidence in the sector since 2012 as part of its rating and ranking of brands, best practices and most importantly, consumer sentiments. For the first time, country’s real estate think-tank group have come out with a special edition of Consumer Confidence Report 20:20 that sums up the performance of top 20 realty players across 20 cities in India.
To know more about the awards and accolades won by SOBHA, click here.