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Company Name : SOBHA Limited

Thursday, January 25, 2018 12:34PM IST (7:04AM GMT)

(BSE:532784)(NSE:SOBHA)

Homebuyers across India Vote SOBHA as Top Choice


Bangalore, Karnataka, India

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  • ConsumerConsumer Confidence Report Ranking
  • ConsumerConsumer Confidence Rating
 
SOBHA, India's most admired and trusted real estate brand, has once again reaffirmed its strength as a customer-centric company. SOBHA has been voted as Number 1 choice of homebuyers nationally in Track2Realty’s Consumer Confidence Report 20:20 - one-of-its-kind comprehensive study on consumer experiences and overall psychology about the Indian real estate market. This is the 4th consecutive year that SOBHA has won top rank in consumer confidence survey, making it an exceptional and a rare feat achieved by any real estate brand in the country.

SOBHA has emerged as the top choice of buyers countrywide on all the 10 parameters of evaluation: Timely Delivery; Construction Quality; Matching Promises; Value4Money; Peer Endorsement; Trust & Transparency; Relationship Management; Brand Reputation; Safe Investment; and Amenities & Liveability. In addition to this, the report also places SOBHA on top of the chart of real estate developers in South India for the 4th time.

Speaking on the occasion, Mr. Ravi Menon, Chairman, SOBHA Limited said, “We are extremely honoured and humbled to be recognised as Number 1 in this in-depth Consumer Confidence Report. What makes this recognition special for us is the fact that we have been able to retain the top spot for four years in a row. This reiterates the success of our concerted efforts in earning the faith and confidence of our customers with quality products, transparent policies and timely delivery. At SOBHA, our endeavour is to set high standards and raise the bar continuously. We believe that every day is a new challenge, enabling us to set new industry benchmarks. We are thankful to our stakeholders for acknowledging our efforts and the entire SOBHA family for helping customers realise their dream of owning an international quality home. We will continue to leverage our strengths and capacities and take the brand to newer heights of excellence.”
 
 Mr. J.C. Sharma, Vice Chairman and Managing Director SOBHA Limited said, “It is a matter of great pride that despite the challenging environment SOBHA has been recognised with top honours. This validates our persistent efforts in enhancing the brand reputation and consolidating our positioning. SOBHA believes in paying attention and listening to customers’ requirements. We understand the laws and dynamics specific to a region and customise our product offerings accordingly. This enables us to achieve highest levels of customer delight. We, at SOBHA, are guided by five core values of international quality, passion, reliability, transparency and integrity. These values have not only helped us withstand adversity but also strengthened our processes further.”

The report is a qualitative and quantitative study of the consumer’s trust, and lack of it. This is by far the most scientific monitoring of real estate consumer’s experience and 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 are rewarded by the customers. The report throws light on a plethora of insights for the realty players, which if adopted will have 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 developers could earn ‘Positive Outlook’ at the national level. There are 10 other developers who earned ‘Positive Outlook’ at the regional level but lacked national exposure, footprint and/or trust. Altogether there are only 17 real estate developers to earn a ‘Positive Outlook’ by the consumers across the country.

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.

The methodology used was rigorous and widespread. A large sample size of 10,000 consumers was targeted through one-on-one interviews 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.

About SOBHA Limited

Founded in 1995, SOBHA Limited is one of the fastest growing and foremost backward integrated real estate players in the country. It means that the company has all the key competencies and in-house resources to deliver a project from its conceptualization to completion. SOBHA is primarily focused on residential and contractual projects. The Company’s residential projects include presidential apartments, villas, row houses, super luxury & luxury apartments, plotted developments and aspirational homes. In all its residential projects, the company lays strong emphasis on environmental management, water harvesting and highest safety standards. On the contractual projects side, the Company has constructed a variety of structures for corporates including offices, convention centres, software development blocks, multiplex theatres, hostel facilities, guest houses, food courts, restaurants, research centres, and club houses. For more information on SOBHA Limited, please visit: www.sobha.com


Click here for Media Contact Details

Abhinav Kanchan, Senior Vice President & Head - Corporate Communications & National Marketing, SOBHA Limited, +91-9741773269, +91 (80) 49320000 Ext. 6029 , abhinav.kanchan@sobha.com


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News Summary

SOBHA, India's most admired and trusted real estate brand, has once again reaffirmed its strength as a customer-centric company. SOBHA has been voted as Number 1 choice of homebuyers nationally in Track2Realty’s Consumer Confidence Report 20:20 - one-of-its-kind comprehensive study on consumer experiences and overall psychology about the Indian real estate market.