According to the latest report of Knight Frank and RICS, Provident Housing Limited has been rated the No.1 brand in terms of CUSTOMER SATISFACTION with a score of 9.5/10.
To understand the overall customer satisfaction level, Knight Frank has interacted with purchasers of affordable housing projects across cities. these homebuyers were end users who had purchased the property of the brand and experienced living in their respective properties. These customers have also interacted with at least 2-3 other brands before purchasing their home. Therefore, they are in a position to assess the performances of these brands right from pre-sales to post- sales stages on various parameters already analysed above.
Reliability, trustworthiness, brand awareness and visibility as well as past track record have played a very important role in deriving the brand satisfaction score by the homebuyers.
Higher satisfaction scores indicate that brands have met the need and expectation of the customers. Due to the recent policy push by the government, as well as rising demand in the market place, many developers have either already forayed into the 'Affordable Housing' sector or are seriously exploring the possibility of entering into this segment of the real estate sector.
Till date the typical approach towards any affordable housing project has always focussed only on one key element - cost reduction. Other crucial factors, such as lifestyle of the targeted population, preferences and choices of the end users and corresponding customer satisfaction, residential environment. etc. generally take a back seat. However, over a period of time the market has been gradually evolving in which affordable housing is more linked with meeting the aspirations of India's growing middle class than only driven by cost.
Consequently, the intensity of competition among the suppliers has sharpened, which is quite evident from the mean satisfaction scores of all the above-mentioned brands. Developers who have taken a more holistic approach while developing their affordable housing projects have scored high on the 'Quality of Life' index by blending socio-economic infrastructure facilities such as schools, offices, shopping and leisure activities within the projects. Top brands like Provident Housing, Mahindra Lifespaces. PS Group and Prestige Group have recognised the changing expectations of the customers and thus recorded a higher satisfaction score among the end users.