Real estate has emerged as one of the most profitable investing options in Indian economy, and its valuation plays an important role in the process. Valuations of real estate are a debatable issue due to lack of research and support knowledge available to the stakeholders and market makers, namely, owners, such as sellers, buyers, brokers and valuers, and lenders, such as bankers and financial institutions. In this article, the author seeks to develop a residential estate valuation index, a consumer perspective.
Methodology:
In the first stage the author has identified consumer-centric factors of residential valuation from literature review and grounded theory. In the second stage SPSS & MS Excel techniques are used to find out consumer-driven weights of each factor and to subsequently develop an index matrix.
Output:
A residential estate valuation index has been developed.
This study attempts to develop a residential estate valuation index for measuring the consumer behaviour with residential estate, residential estate seen as habitat that is an output/product architecture. This index will be helpful for stakeholders, market makers, sellers, buyers, brokers, valuers, bankers and financial institutions in high-involvement decision-making.
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