PERCEPTION OF MANAGERS REGARDING CSR PRACTICES FOR SUSTAINABLE DEVELOPMENT IN THE REAL ESTATE SECTOR

Abstract

Corporate Social Responsibility (CSR) plays a pivotal role in the modern business world, creating a positive impact on the three spheres of Sustainable Development (SD): social, environment, and economic. Despite its growing relevance in creating sustainable and inclusive economies, there exists a low correlation between the perception of managers and actual CSR performance, cross-cultural analysis, and very few studies focus on the real estate sector. This study analyses the managers’ perception about CSR practices in the real estate sector through a comprehensive literature review and inferential statistical techniques. The data was collected from 250 managers working in real estate companies spread across Delhi-NCR through a survey questionnaire. Statistical tests like the one-way ANOVA and independent sample t-test were applied to identify the differences across demographic groups. The findings reveal a substantial difference among graduates and post-graduates, and young, middle and mature employees, whereas there exists no difference in the income level and gender of the employees. The findings will be helpful for managers in designing and implementing CSR practices, executing socially responsible projects, and ensuring the alignment of stakeholders’ expectations with the Sustainable Development Goals.