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AN EMPRICAL STUDY ON PROMOTION OF ONLINE REAL ESTATE MARKETING SERVICES WITH REFERENCE TO MAKAAN.

COM

Submitted in partial fulfillment of PGDM

PGDM Batch 2011-13

Submitted To:
PROF. NAGESWAR SINGH

Submitted By:
G.S DIBYAPRAKASH

TOPIC OF SUMMER TRAINING

AN EMPRICAL STUDY ON PROMOTION OF ONLINE REAL ESTATE MARKETING SERVICES WITH REFERENCE TO MAKAAN.COM

Submitted in partial fulfillment of PGDM

PGDM BATCH 2011-13

Submitted By G.S DIBYAPRAKASH

Prof. Ngeswar Singh Faculty Guide

Prof. Irfan Ul Huq Director Academics

Declaration

I G.S DIBYAPRAKASH hereby declare that the project titled

AN EMPRICAL

STUDY ON PROMOTION OF ONLINE REAL ESTATE MARKETING SERVICES WITH REFERENCE TO MAKAAN .COM is an original work carried out under the guidance of PROF. NAGESWAR SINGH .The report submitted is a bonafide work of my own efforts and has not been submitted to any institute or published before.

Signature of the student

G S DIBYAPRAKASH

Date: Place:
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Certificate from the organization

TO WHOMESOEVER IT MAY CONCERN

This is to certify that Mr. G S DIBYAPRAKASH of PGDM has successfully completed Summer Training Program for a period of 60 days with MAKAAN.COM, from 1st May 2012 to 30th JUNE 2012.

As per our assessment, he is hard working and his performance has been the training program.

during

We wish him all the success for his future.

Signature: Mr. BASAVESWAR.T Assistant Sale Manager

Date: Place:

Faculty Guide Certificate

I PROF.NAGESWAR SINGH certify Mr. G.S DIBYAPAKASH that the work done and the training undertaken by him/her is genuine to the best of my knowledge and acceptable.

Signature

PROF.NAGESWAR SINGH Date:

ABSTRACT
From being a small scale industry, advertising in India has evolved into a significant domain both in terms of revenue generated as well as number of people employed. Today, marketing has graduated into a quintessential aspect in a products success, be it a goods or a service. Starting from brand image to that of brand identity, everything gets fostered through ones advertising efforts for any particular product. Keeping this aspect in mind, one needs to keep in mind that over the period of years, online medium has developed as a prospective means of communication. Advertising industry has caught on the proposition well and diverted some of their scheme of activities towards online media. Our true challenge for today is not debts and deficits, but the dynamic global competition of the market environment, the need to gain comparative and competitive advantages knowledge of promotion and promotional mix will bring a feeling that we are part of the moving trend that runs the market sector. Hence, this research field work has been carried out systematically and progressively to create awareness regarding online real estate among the target groups (real estate agents, builders and individuals)and to enhance the sales of MAKAAN.COM by promoting the services. The study was done by personnel interview and questionnaire method with a sample size of 100 populations.

ACKNOWLEDGEMENT
It is a matter of immense pleasure for us to undergo research work in such a prestigious organization. At the onset I would like to express my appreciation and express a deep sense of gratitude to all those with whom I have had the opportunity to work and whose inputs & insights have helped me in furthering my knowledge and understanding of my subject. I would like to extend my sincere thanks to Prof. Irfan Ul Huq, Director academic, VISHWA VISHWANI Institute of Systems & Management, Hyderabad and MAKAAN.COM for giving me the opportunity to do my project in one of the fastest growing organization in India. My heartfelt thanks go out to my project guide, Prof. Ngeswar Singh, VISHWA VISHWANI Institute of System & Management, Hyderabad, who was instrumental in designing the project deserve more than just a few lines in acknowledgement and i am deeply indebted to him with regard to the successful completion of the project. Without his guidance and encouragement it would not have been possible for me to complete my project successfully. I would like to thank the principal director and faculty members of my institute for providing me opportunity to work in a professional environment. I also extend my gratitude to MAKAAN.COM for giving this project an identity and to me an opportunity to represent the premier institute in professional world. For this i would like to thank my project guide Mr. Basaveswar.T (area sales manager) , Mr. Devendra Kumar (branch manager) for their support and co-operation, without the support of all other employees of MAKAAN.COM ,I may not be able to complete my project successfully, so i am also equally thankful to all employees of MAKAAN.COM. Finally I would like to extend my heartiest thanks to my family and my friends for their encouragement. G.S DIBYAPRAKASH
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CHAPTER 1: INTRODUCTION
In the current dynamic market promotion is an important element for every organization. Each and every organization needs to promote, whether it is a consumer goods or service providing organization. Out of all elements of promotion mix advertisement is one of the important tool to communicate with the customers and encourage them to continue or take some new action. The purpose behind any advertisement is to grab the attention of target customers and encourage them to find out more information regarding the goods or service. In the beginning of 20 th century, the form of advertising has been changed from traditional form to modern form. Online advertising brings a revolution in the history of advertising. Now in India internet advertise is the fastest growing media. It is online real estate, which change the face of real estate in India. Decades ago real estate agents and builders were advertising in hoardings and print medias, but now a days all leading real estate builders and agents are advertising through online portals to get the lead. The agents and builders list their property on the website and the property seekers can search property from the website. Apart from searching it provide a lot of relevant information to the property seekers such as location, price comparison, EMI, and so much. I did my project at MAKAAN.COM and my field work was to promote the services of makaan.com.so I need to visit to the property sites and meet the concerned person of the real estate business and promote the services of makaan.com. I have covered some major locations of Hyderabad and Secunderabad and met more than 100 real estate agents and builders. Also I have some lead from them to increase the sales of my company.

Promotion:
Promotion is one of the important elements of 4ps of the marketing mix. Promotion is the specification of five promotional mix, these element are personal selling, advertising, sales promotion, direct and online marketing and publicity. A promotional mix specifies how much attention to pay to each of the five

subcategories(Advertising, Sales Promotion, personal selling, Public Relation and

Direct Marketing) and how much money to budget for each. A promotional plan has a wide range of objective, including: sales increases, new product acceptance, creation of a brand equity, positioning, competitive advantage, or creation of a corporate image.

Online Marketing:
Online marketing is the fastest-growing form of direct marketing. Recent technological advances have created a digital age. Widespread use of the internet is having a dramatic impact on both buyers and the marketers who serve them. In this section, we examine how marketing strategy and practice are changing to take advantage of todays internet technologies. Internet marketing, also known as web marketing, online marketing, web advertising, or e-marketing, is referred to as the marketing (generally promotion) of products or services over the Internet. Internet marketing is considered to be broad in scope, because it not only refers to marketing on the Internet, but also includes marketing done via e-mail and wireless media. Internet marketing ties together the creative and technical aspects of the Internet, including design, development, advertising and sales. Internet marketing also refers to the placement of media along many different stages of the customer engagement cycle through search engine marketing (SEM), search engine optimization (SEO), banner ads on specific websites, email marketing, mobile advertising. Final Touch Inc considers online marketing very different from ordinary business marketing and brings six categories of organic benefit: costs are reduced, capability is increased, communications are refined, control is enhanced, customer service is improved and competitive advantage may be achieved depending on the competitors reaction.

Online Advertising:
Advertising is the branch of marketing that deals with communicating to customers about products, brands, services and companies. The Internet, as a global communications medium, provides advertisers with unique and often cost-effective ways of reaching advertising audiences. As with all media, however, advertising on

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the Internet has unique advantages like Wider Coverage, Targeted Audiences, Speed, Informative, and Better Branding.

Indian Online Advertising Market:


The Indian online advertising market, including classifieds, will grow by a whopping 54% in the next 12 months.

Fig. 1.1 (Source- http://rtn.asia/1174_indian-online-ad-spend-jump-54-year-iamai) As of March 2012, the industry was worth Rs 2,851 crore in annual revenue and will further grow to Rs 4,391 crores by March 2013. Excluding online classifieds, online advertising in India was worth about Rs 1,250 crore last month and will grow about 25% to Rs 1,561 in the next 12 months. Mobile advertising will grow from 105 crore to Rs 144 crore during the same period (all numbers annualized.)

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Interestingly, the display market continues to be slightly ahead of the search market in India, contributing about 55-60% of the total 'pure' online ad market. The ratio will remain very similar even after a year, it predicted. In terms of size, the online advertising market in India is about 11% the size of the conventional or traditional media ad market. Online advertising has been growing in India, even in the recent economic downturn. "On an average, the digital ad spends have been growing at 25% year-on-year basis.

Fig.1.2 (Sources- IMRB International)

Impact of online portal in real estate performance:


The rise of online real estate sites has started to change the nature of the traditional real estate business model. Home listings, complete with images and even virtual walk through, are now available to anyone with internet access By its nature real estate is a complex product. The significant investment made by both the seller and buyer in their property means that there are high perceived risks, and the need for getting as much information as possible before making final decisions. The traditional role of the Real Estate agent has been to provide a
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valuable service that justifies their commission. These are some distinct steps that comprise the real estate process: I) listing the property; ii) advertising the listing; iii) finding a buyer; iv) helping the buyer select a property to match their requirements; v) negotiating the contract. And all these things are possible only through online real estate portals. Among 87% of people use the internet to search for property, so why would you want your property advertised in your local newspaper? (Source-http://www.cemi.com.au/node/86) The customer value proposition from this online real estate site is that, by using their service and removing the traditional real estate agent the consumer can save significantly when selling or buying their property. According to one study traditional real estate customers may have taken approximately 1.6 weeks to search for a property before contacting a real estate agent and then a further 7 weeks working with the agent before finding their property. However, online consumers are now taking an average of 4.8 weeks conducting their research before making contact with a real estate agent, and then only 1.9 weeks before buying. A traditional buyer would inspect an average of 15.4 properties before making the final purchase, but an online consumer will visit just 6.1 properties . (Sources-(Cayley, 2006). http://www.cemi.com.au/node/86) Online real estate portal is the one that builds the strongest relationship who will secure the deal and the commission. Online real estate services now allow the consumers an opportunity to remove the agent by doing internet searches, virtual tours and drive buys, and setting up internet alerts that keep them apprised of any new properties coming onto the market. For sellers, any property not marketed on the internet is likely to be at a severe disadvantage.

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The online real estate marketing revolution: The game changer:


There are several reason why marketing online has become extremely important to the competitive real estate agent. That is just one way online marketing changes demand for real estate. It also changes the skills requirements within real estate companies, which must now increasingly build expertise in technology. " 71% of homebuyers use the Internet for research and to search for listings and services. Internet homebuyers make better clients It saves time and is more cost effective than most traditional forms of marketing. The question is not IF online real estate marketing is here to stay, it is all about: predicting HOW FAST it will grow and outgrow print media. The future is internet based real estate, because More people start their search online. increase in the number of estate agents using online advertising (and a subsequent reduction in print advertising spend) Increase in the number of properties advertised online More estate agents using virtual tours and video tours as marketing differentiators to win mandates. An exponential growth in the use of social media tools including Facebook and Twitter A growth in the number of personal estate agent blogs to establish themselves as experts in their areas The launch of mobile websites and mobile applications for I phone, Windows Mobile, Blackberry and Android powered phones. Mobile market is very fragmented at this stage so you have to cover a lot of bases. An increase in the number of people visiting property portals and an increase in visiting times

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CHAPTER 2: INDUSTRY PROFILE COMPANY PROFILE LITERATURE REVIEW Industry Profile: Real Estate:
Real estate is "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; (also) an item of real property; (more generally) buildings or housing in general. Also: the business of real estate; the profession of buying, selling, or renting land, buildings or housing. But when we talk about real estate or realty in general terms, it means the properties like land, buildings, apartments, commercial buildings etc. Reality can be defined as, A piece of land, including the air above it and the ground below it, and any buildings or structures on it. Real estate can include business and/or residential properties, and are generally sold either by a realtor or directly by the individual who owns the property (for sale by owner). A crucial factor behind over all development of any country is considered to be mostly depending on the accelerated growth rate in real estate sector. Dynamic patterns of using land and its multi diverse practices have enabled the economic growth more vibrant than the decade went past. Both commercial and residential properties are more in functional practice to make rapid economic growth of the country easier. Further the development of commercial properties has played a significant role in our GDP growth in recent times.

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As per utilization, the real estate space can be classified as follows: dig 2.1

Real estate utilization


Residential

Commercial
Office Hospitality Retail

Mall
Characteristics:
Durability Heterogeneous High Transaction cost Long time delay Both an investment good and a consumption good Immobility

Multiplex

Scope:
Commercial real estate sector is in boom in India. In the last fifteen years, post liberalization of the economy, Indian real estate business has taken an upturn and is expected to grow from the current USD 14 billion to a USD 102 billion in the next 10
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years. This growth can be attributed to favorable demographics, increasing purchasing power, existence of customer friendly banks & housing finance companies, professionalism in real estate and favorable reforms initiated by the government to attract global investors. dig 2.2

GROWING MARKET DEMAND

Realization of large commercial PROJECTS IPOs by developers Gradual organization of the markets in the Tier I cities

Greater availability of information


Real estate in India:

Emergence of transparency and liquidity Entry of international real estate consultancies Governing legal framework relaxed Competitive pricing

With property boom spreading in all directions, real estate in India is touching new heights. However, the growth also depends on the policies adopted by the government to facilitate investments mainly in the economic and industrial sector. The new stand adopted by Indian government regarding foreign direct investment (FDI) policies has encouraged an increasing number of countries to invest in Indian Properties. India has displaced US as the second-most favored destination for FDI in the world. As the investment scenario in India changes, India which has attracted more than three times foreign investment at US$ 7.96 billion during the first half of 2005-06 fiscal, as against US$ 2.38 billion during the corresponding period of 2004-05,
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making India amongst the "dominant host countries" for FDI in Asia and the Pacific (APAC). The positive outlook of Indian government is the key factor behind the sudden rise of the Indian Real Estate sector - the second largest employer after agriculture in India. This budding sector is today witnessing development in all area such as - residential, retail and commercial in metros of India such as Mumbai, Delhi & NCR, Kolkata and Chennai. Easier access to bank loans and higher earnings are some of the pivotal reasons behind the sudden jump in Indian real estate.

Why Invest In Indian Real Estate?


Flying high on the wings of booming real estate, property in India has become a dream for every potential investor looking forward to dig profits. All are eyeing Indian property market for a wide variety of reasons: Its ever growing economy which is on a continuous rise with 8.1 percent increase witnessed in the last financial year. The boom in economy increases purchasing power of its people and creates demand for real estate sector. India is going to produce an estimated 2 million new graduates from various Indian universities during this year, creating demand for 100 million square feet of office and industrial space. Presence of a large number of Fortune 500 and other reputed companies will attract more companies to initiate their operational bases in India thus creating more demand for corporate space. Real estate investments in India yield huge dividends. 70 percent of foreign investors in India are making profits and another 12 percent are breaking even. Apart from IT, ITES and Business Process Outsourcing (BPO) India has shown its expertise in sectors like auto-components, chemicals, apparels, pharmaceuticals and jewellery where it can match the best in the world. These positive attributes of India is definitely going to attract more foreign investors in the near future. The relaxed FDI rules implemented by India last year has invited more foreign investors and real estate in India is seemingly the most lucrative ground at present.
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The revised investor friendly policies allowed foreigners to own property, and dropped the minimum size for housing estates built with foreign capital to 25 acres (10 hectares) from 100 acres (40 hectares). With this sudden change in investment policies, the overseas firms can now put up commercial buildings as long as the projects surpass 50,000 square meters (538,200 square feet) of floor space. Indian real estate sector is on boom and this is the right time to invest in property in India to reap the highest rewards.

Future Prospects on Real Estate Industry:


The real estate market in India is yet in a nascent stage and the scope is simply unlimited. It does not resemble a bubble that will burst. An unhindered growth for the next twenty years is almost sure. This is because the outsourcing business in India is going in great guns and this entails a huge demand for commercial buildings and urban housing besides improvement in infrastructure. The organized retail market in India is also accelerating with players like Wal-Mart, Bharti, and Reliance etc. looking forward to make a foray thus stepping up the demand for real estate

Real Estate and Indian Economy:


Real estate plays a critical role in the development of the Indian economy. It is the second largest employer after agriculture. Over the next decade, the real estate sector is expected to grow by 30 per cent. The sector is divided into four sub-sectors: housing, retail, hospitality, and commercial. The housing sub-sector contributes five-six per cent to the country's gross domestic product (GDP). Meanwhile, retail, hospitality and commercial real estate are also growing significantly, catering to India's growing needs of infrastructure. The construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy, according to a study done by ICRA. A unit increase in expenditure in this sector has a multiplier effect and the capacity to generate income as high as five times. The positive effects of growth in real estate sector are spread over more than 250 ancillary industries

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Market Size:
The Indian real estate sector plays a significant role in the country's economy and contributes heavily towards the gross domestic product (GDP). The Indian real estate market size is expected to touch $180 billion by 2020. The housing sector alone contributes to 5-6% of the countrys GDP. Retail, hospitality and commercial real estate are also growing significantly, providing the much-needed infrastructure for Indias growing needs. Recent growth in the Indian economy has stimulated demand for land and developed real estate across industries. Demand for residential, commercial and retail real estate is rising throughout India, accompanied by increased demand for hotel accommodation and improved infrastructure Foreign direct investment (FDI) inflows in real estate in 2011-12 (April-January) stood at Rs 2,750 crore (US$ 492.50 million).

Online Real Estate:


Is an internet portal dedicated to meet every aspect of the consumers needs in the Real Estate industry. It is a web application where Property Owners, Brokers, Tenants and Investors can exchange information, quickly, effectively and inexpensively. It features commercial and residential properties for sale rent and lease the fore properties, rates, locations, property news and also major events and happenings in the genre are the highlights of this portal. Getting a clear picture of the Indian online real estate market is not straightforward, as as least four of the countrys property portals claim market leadership. If one conclusion can be drawn about India, which had a population of 1.21 billion in early 2011, it is that this is a particularly competitive market with portals working hard to gain the advantage. Here is a run-down of some of the key industry players.

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Objective of Online Real Estate Industry:


To develop a well designed user comfortable menu based user interface. Allowed the property owner to advertise their property online for sale with details of the property. Provide buyers/ brokers/ tenants to search the property of their choice which result less time consuming. To design a subsystem so that user can query through the messaging system.

Features of Online Real Estate Portal:


The portal provides real estate directory for real estate agents, property dealers, builders and potential buyers of property. Search based on keywords such as location, prices Customized user accounts that can be dynamically generated Dynamic Content Updation Automated Email and SMS facilities Comparison of properties based on location (distance from nearest hospital, school, airport, railway station etc)

Advantages of Online Real Estate Portal:


The brokers/owners can compare his property against other similar properties Customized web page as per the user interests is loaded when the user logs in. Provide facility within the system, to give response to the queries (i.e. compose mail and send it). Registered buyers can view the analysis of market Analysis of market is done based on previous searches made by other buyers Registered buyers are given access to EMI calculation. Registered buyers are given option for cost estimation. Unregistered buyers are also can search for properties for rent/lease/buy

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Unregistered buyers can also post their requirements which can be viewed by broker/owners Customers are able to access their account 24 hours a day, seven day a week Ease of use.

Registration Procedure:
The system must provide login access to the registered users The system must provide a registration page to enable new users(Builders, Brokers, Owners) to be registered If the Registration is successful, an email is to be sent to the user with a temporarily generated password. When the user logs in for the first time after registration, he must be prompted to change the temporary password The new password provided by the user must be a secure password.

Notification:
The registered users must be able to save and modify their profile which can be viewed by interested parties. The registered users must be able to view the history and summary of their activities The brokers/owners shall have options to view the responses to their properties The brokers/owners shall be provided with a form to update their property details The brokers/owners must be able to turn on/off email and SMS alerts.

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Key Players in Indian online Real estate Sector:


Magicbricks.com

99acers.com

Indiaproperty.com

iproperty.com

Tab 2.1 Brief Introduction of the Key Players:Magicbricks.com:-

Magicbricks.com is a high-end property portal that caters to a global market with its unique services and novel online features. Having been launched in the year 2006 by Times Group, Magicbricks has quickly risen to being the No. 1 Property Portal in India. In addition to all else, magicbricks.com is synonymous with internationally acclaimed property fairs. It is here that top-notch properties of major Indian metros are showcased for audiences in India and abroad. Till date, magicbricks.com has successfully hosted 75 domestic and over 15 international property shows around the globe.

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May 2012: In a survey conducted by MagicBricks, about 68% of prospective property buyers polled had intended on purchasing property in the suburbs. With amenities, security & social infrastructure emerging high on user priority lists.

Corporate office
Magicbricks.com Times Business Solutions Ltd. Times centre (Digital content production Facility). FC-6 (Ground Floor). Sector16A, Film City, Noida-201301Phone:0124-4869300

99acres.com:-

99acres.com is part of the naukri.com group-Indias No.1 job portal. Our parent company Info Edge, funded by ICICI Ventures, started in 1989 and became Info Edge(India) Ltd. on May 1, 1995. It was launched in September 2005. The site www.99acres.com is one of Indias first platforms to cater to the real estate market online and has a pan India listing of properties for sale, purchase and rent spanning 25 plus cities. It brings together builders, brokers, dealers and interested buyers /sellers and connects them over the online medium. Property listings were over 700,000 during 2010-11. The site has continued to increase its traffic share during 2010-11.

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The business all check deals is that of a real estate broker. It manages a website www.allcheckdeals.com which helps it showcase its offerings and attract customers online. 99acres.com is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers and brokers can exchange information, quickly, effectively and inexpensively.

Corporate officeA-88, Sector-2, Noida - 201 301 Uttar Pradesh, India

Indiaproperty.com

IndiaProperty.com, a division of Consim Info Pvt. Ltd., (formerly Bharat Matrimony) provides an in depth information on buying, selling and renting out properties in India. Leveraging the internet as the platform, the group launched India Property.com in 2005 in order to give the time-pressed, net savvy customers an easier, quicker and surer way to seek property online and thus revolutionize the way property is bought and sold in the real estate market. This feature rich portal offers its users an extensive search feature that allows them to locate property by region, area, price, amenities and availability. Multiple properties listing facility also enables sellers to feature more than just one property along with property photographs.

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Corporate head officeIndiaproperty.com 94, TVH Beliciaa tower, tower II, 10th floor, MRC Nagar, mandaveli, Chennai-600028, India E-mail: advertise@indiaproperty.com

Iproperty.com:-

IProperty.com India is India's leading online real estate portal that caters to real estate industry with more than 300,000 active fresh property listings. IProperty.com India formerly RealAcres.com is India's First Online real estate portal now with the brand now having global presence in more than 6 countries and expanding. Launched in October 2005, the brand has bagged CNBC Asia Pacific Property Awards in the 'Best Property Portal', Stieve Award for Best Property Website, Red Herring Asia Award for top Pvt Ltd Companies in Asia. Working with India's top Builders and premium Brokers iProperty.com India has the largest and strongest real estate community platform "connect" with more than 350,000 Subscribers sharing and discussing real estate trends and issues. iProperty.com's networked team track and interpret the market forces and trends that affect real estate business to provide the best-informed solutions for real estate professionals such as developers, builders, financial institutions etc., with the major thrust in residential sector. It provides financial and real estate news to those who evaluate, invest-in and manage real estate industry.

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COMPANY PROFILE People group:


While People Group can trace its origins to the beginning of Shaadi.com in 1996, the Group was formally launched by Anupam Mittal in 2004 to explore opportunities in the Internet and Mobile space. In a few short years the group has earned the reputation for being one of the most innovative businesses in India, having developed brands such as Shaadi.com, Makaan.com and Mauj Mobile. People Group is a new-age Media & Entertainment company, founded by Anupam Mittal. The Group comprises of two companies - People Interactive and People Infocom and has a headcount of over 800 employees globally. People Interactive is the Consumer Internet arm of the Group and owns the parent brand Shaadi.com, under which several successful matrimonial businesses are managed. The company also owns Makaan.com, India's fastest growing property and real estate site, as well as Fropper.com, a friendship and social networking service. People Infocom is managed under the Mauj Mobile brand, widely regarded as one of the pioneers of Mobile Internet in India. Today, Mauj Mobile runs a global content and applications platform and distribution business - including the highly popular mobile destination called Mobango - with strong partnerships with telecom operators and media companies around the world. Mauj and Mobango together drive over one million downloads a day. People Group has demonstrated consistent growth year-on-year and today operates with over 800 employees across 12 regional and three global offices. In addition, it operates 100 Shaadi Centers in 87 Indian cities. We are the only Indian company listed as one of the World's 50 Most Innovative Companies by Fast Company in 2011. People Group has won the Deloitte Fast 50 India Award for three consecutive years as well as the Deloitte Fast 500 Asia Award. It is a recipient of the prestigious Red Herring 100 Asia Award and the Emerging India Award held by CNBC. People Group has also been voted as one of the Top 10

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Marketers in India by Business Today as well as won the IT People Award for Excellence in Information Technology.

Vision & Mission:


At People Group, we are driven by a desire to innovate and create not just businesses but entire industries. We do not measure our vision in terms of dollars but rather in terms of what we have created and the impact that we have had. We believe our vision must be timeless, ethical and imperative.

Vision:
To be recognized and revered as one of the most entrepreneurial and innovative Internet companies in India excelling in identifying large and healthy business opportunities and expanding them aggressively.

Mission:
To provide the most customer-focused Internet based services to inform, connect, entertain and educate people. We do this through the discovery, development, and distribution of highly user-friendly consumer applications.

Value:
At People Group, what binds us together are a set of values that we try to inculcate within ourselves as well as each other. We believe that how we do things is equally as important to what we choose to do We will ensure our profitability, long-term growth and financial stability through the process of delivering the best real value and perceived value to our customers. We believe our growth as an organization is a derivative of the growth of each of our individual - personal, professional, physical and spiritual growth. We will go the extra mile to serve our customers every time. This is not an option to us. It is the least that is expected of us.

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We will recognize each other's individuality without sacrificing the benefits of teamwork. We will treat our self, each other and our customers with respect and dignity. We will respect time by being punctual and productive. We will be careful with our resources - expenses and supplies - by utilizing them effectively and efficiently. We will ensure that society gains substantially more from us than what it gives us.

Culture:
Often, it is the ambience of a place that inspires creative work. If it evokes freedom, values, opportunity and aspiration, it encourages one to put forth innovative and strong ideas, realizing them to their fullest potential. This is what a culture does. Here's a look at People Group's culture.

We love the internet:


'Thank God for the Internet' - that's our daily prayer! Whether it's a social meeting, matrimonial or making money, we use the internet with a passionate understanding of the potential that this medium holds for building tomorrow's businesses.

We are customer focused:


We audaciously believe that one size cannot fit all. Even the small, medium and large categories are insufficient. We believe that each customer is unique, so we cater to their needs as individuals and not as types.

We are proactive people:


We take the initiative; we make the first move. We do whatever it takes to get results. We do this by being disciplined, responsible and focused. As proactive people we strive to create a positive and vibrant work environment.

We believe in guidelines over processes:


Processes matter in areas that are irreversible or the cost of reversal is high. For everything else we prefer guidelines and knowledge, as opposed to elaborate processes. We believe unnecessary processes kill creativity and innovation.
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Our work is innovation led:


Innovation for us is a daily task. It involves elevating the mundane to the extraordinary and the routine to the strategic. Each one of us is a critical contributor and all of us need to wear several hats.

We are committed to self development:


In a world of constant change, no one can swim in the same water twice. We are committed to staying competitive at all times, meeting business needs at all costs and coping with ambiguity against all odds. Our appetite for continuous learning and evolving will be our only constants.

No entitlements for us, we earn instead:


My performance is my reward. This is my company, and if things go wrong - I'll fix them. I seek no entitlements, for I will earn my due.

We enjoy aligned autonomy:


We excel in our individual areas of expertise but work towards a united goal. We remain autonomous in our independent/ team roles while moving ahead in the same direction as the organization. This gives us the flexibility and speed we need.

We create high impact:


We don't put emphasis on number of hours worked or the effort put in. What ultimately matters to us is the impact that we have been able to create, impact that we can measure.

We have fun:
We are here because we enjoy being here. The bigger the challenge the greater is our desire to face it. We are energetic, passionate people from diverse backgrounds who recognize that work is where we spend most of our hours. So for us, work is fun!

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Way of People Group:


At People Group, the employee maintains the core of excellence, the spirit of teamwork and the challenge of entrepreneurship. Joining People Group means expanding horizons, challenging yourself with interesting work and delivering high quality solutions.

According to PEOPLE GROUP Success isn't uncommon.


However, what often makes it remarkable are the methods used to achieve it. At People Group, success is measured with the progress of not one, but all, with innovative solutions that are beneficial holistically; and with maximum creative, personal and professional satisfaction achieved.

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Opportunity:
This is People Group - a company built on the entrepreneurial spirit of its employees. Whether it's a management position or production, you have the key to realize your potential. And we can help you make the best of it! At People Group, we maintain the core of excellence, the spirit of teamwork and the challenge of entrepreneurship - to deliver world-class quality and value to our customers in the global arena. We are looking for problem-solvers, go-getters who can get on the job and get it done without fuss. Think you have what it takes to be here?

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Makaan.Com:
Makaan.com is an online real-estate service committed to helping you make wise and profitable decisions related to buying, selling, renting and leasing of properties, in India and key global geographies. Makaan.com will provide a fresh new approach to our esteemed users to search for properties to buy or rent, and list their properties for selling or leasing. Makaan.com was launched on India's 60th Independence Day, i.e. on 2007 by people group. Makaan.com is an online real-estate service promoted by People Interactive; the consumer Internet division of the Anupam Mittal led People Group. This site has been conceived to explore and invent opportunities in the online real-estate space. Makaan.com is committed to helping users make wise and profitable decisions related to buying, selling, renting and leasing of properties, in India and key global geographies. This user-friendly portal has Pan India presence, with physical offices in top 13 cities of India, including Delhi, Mumbai, Kolkata, Bangalore, Chennai, Hyderabad, Ahmadabad, Pune, Chandigarh, Jaipur, Kochi, Vizag and Vijayawada. Makaan.com the fastest growing property website in India was established with the mission to connect relevant buyers and sellers of real estate, massively increasing the propensity of transactions. The website is committed to help its users make wise and profitable decisions related to buying, selling, renting and leasing of properties in India and key global geographies. Through its property intelligence portal Makaan IQ, Makaan.com also seeks to provide actionable intelligence to the real estate industry in India A common platform for individuals, brokers and builders, Makaan.com is committed to connecting relevant buyers and sellers of real estate, helping them make wise decisions related to property in India and key global geographies.

Why the name Makaan.com?


Naming is a ritual in India. It reflects the sentiments and aspirations of the elders from the new born. Once People Group decided to enter the online real-estate business; the first name that came to our mind was Makaan.com. Makaan is the
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most commonly used word among the Indian real-estate fraternity (property seekers, agents and builders). Most Indians also refer to their dream house as Makaan. People Group has transformed the matrimonial scene in India with Shaadi.com, as most Indians refer to a marriage as a Shaadi. With Makaan.com we hope to extend a similar relationship between Indian real-estate and Makaan.

Mission of Makaan.Com:
To connect relevant buyers and sellers of real estate, massively increasing the propensity of transactions. We will provide people with differentiated technology and content that can help build knowledge, identify relevant property and facilitate transactions.

What does makaan.com promise?


Makaan.com promises to be the most preferred way of finding your dream property, and we are committed to help you make a wiser property decision, as a buyer or a seller. We want our esteemed users to realize over time that Makaan.com is an expert friend, who can help them make some of their biggest and important decisions in life in a sharper, faster and easier way.

The Makaan.com team is committed to the following


Understand the needs and concerns of Individuals, Agents & Builders and provide them a common platform for realizing maximum benefits from realestate. Provide a superior real-estate experience by making it easier, faster, secure and more accurate to find buyers for your valuable property, and sellers for the dream property you have been waiting for Give our customers complete control through easy to use interfaces and features that can help them identify, filter and contact potential buyers and sellers for properties.

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Advantages of Makaan.com:
An expert friend :
Makaan.com is an expert friend, who helps the user make wise property decisions. We strongly believe that once our users start using Makaan.com, they will realize over time that this is indeed a much better way to search for, and advertise properties, not only as compared to other online portals, but also when compared to the traditional print classifieds.

Easy to use:
Makaan.com has been made keeping the user in mind. We do not want you to come to our website and get lost within all the information that exists. We have incorporated advanced search functionalities, which help you find the information that you need, in a much more accurate way, and in the least possible time.

Visually appealing:
Makaan.com has been designed keeping the usability in mind. We have taken great pains to conduct usability studies, and we strongly believe that Makaan.com will appeal to users of all ages, across geographies. We have incorporated a number of design elements, which will leave you pleasantly surprised, once you start using our services.

Services of Makaan.Com:
Search property:
Customers, who are looking to buy or rent properties, can search property through makaan.com site.

List property:
Individuals, agents and builders can list their property in the web page of makaan.com.

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Post requirement:
In post requirement you can post your requirement, than you will get a welcome call from makaan.com for conformation and makaan.com will send your property requirement to the property seller, who will contact you.

Discussion forum:
In discussion forum you can post your question, keyword or topic regarding your requirement and can get instant response from others.

Advertise with us:


Makaan.com presents advertising solutions for all your property needs, giving you an opportunity to reach out to the widest audience in the most cost effective manner.makaan.com have advertising options for individuals, agents/realtors and builders.

Individuals:
Makaan.com allows various advertising solution for individuals. Fast response listingProminently displays your property listing on search result page. Facility to display up to 5 property images and company logo.. Listing remains live on the site for minimum 60 days. This listing generates more responses from property seekers as compared to basic listing.

Basic listingDisplays your property on search result page. Facility to display 1 Property Image. Most cost effective tool to advertise your property.

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Listing remains live on the site for minimum 30 days.

Smart individual bannerAdvertise your property by creating a customized banner. Banner can be targeted to city(s) of your choice. Banner prominently displays your property on the search result page.

Agents /realtorsMakaan.com also provides various advertise solution for agents.

Fast response listingProminently displays your property listing on search result page. Facility to display property image and your companys logo. Listing remains live on the site for minimum 60 days. This listing generates more responses from property seekers as compared to basic listing.

Basic listingDisplays your property on search result page. Gives the description of your property. Displays your property for minimum 30 days.

Smart agent bannerAdvertise your company by creating a customized banner. Banner can be targeted to city(s) of your choice. Banner prominently displays your company on the search result Page.

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Builders:
Advertising solution for builders: Makaan Slide Show (Home Page) Makaan Slide Show (City Search Page) Makaan Featured Builders (Home page) Banner inside Makaan e-Mailers Makaan Top Image (Home Page) Makaan Smart Builder Image Makaan Property Listing Banner Fixed Image with Text Links (Search Page) 57007 Mobile Short Code Makaan Top Image (City page).

Makaan IQ:
Makaan IQ, is an initiative by Makaan.com, to provide information, intelligence and tools to help property seekers and real estate industry players take informed property decisions. Makaan IQ offers a host of services for the benefit of the home buyers including latest news on the Indian real estate sector and analysis of the property trends across major Indian cities. The website allows home buyers to search for property for buying; renting or PG. Home buyers can calculate their equated monthly installment (EMI) or check their affordability by using some simple tools. The website has been integrated with Makaan.com Property Index (MPI), a popular tool that offers up-to-date information related to the movement in residential property prices. The Makaan.com Property Index (MPI) and Makaan.com Buy v/s Rent Index (MBRI) are two monthly indexes released by Makaan IQ that track property and rental prices in various cities in India.

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Benefits of Makaan IQ:


Is it the right time to buy a property? Or the best time to sell a property? What is the prevailing property price in my city? How much will be my EMI? These questions revolve around the mind of every homebuyer and seller. To answer these doubts, www.Makaan.com , the fastest growing online real estate website by People group has launched Makaan IQ, an initiative that provides information, intelligence and tools to 1) help home buyers make informed property purchase decisions and 2) keep the real-estate industry informed of the latest trends in purchase habits of buyers. The website www.MakaanIQ.com offers a host of services for the benefit of the home buyers. It has the latest news on the Indian real estate sector. It helps the buyers by analyzing the property trends across major Indian cities. The website has been integrated with Makaan.com Property Index (MPI), which is quickly emerging as a trend for measuring real-estate price fluctuations (over a period of time). The new website also allows home buyers to search for property for buying; renting or PG. Home buyers can calculate their equated monthly installment (EMI) or check their affordability by using some simple tools. The website will also benefit industry participants by sharing consumer research. It will de-mystify critical issues like - Are 2 bedrooms more in demand than 3 bedrooms in certain areas? How much is the demand for studio apartment in various Indian cities? What is the growth rate of affordable housing compared to luxury housing? This will help the industry in staying on top of customer trends and uncover insights for their businesses.

MBRI (Makaan.com Buy Vs Rent Index)


Which is beneficial, buying a property or staying on rent? In the absence of a robust and reliable tool, these decisions were traditionally taken with gut feel or with the guidance of a close relative / friend, leaving scope for error. Makaan.com (www.Makaan.com), Indias fastest growing real estate website from People Group has launched Indias first Buy vs. Rent Index. Christened Makaan.com Buy Vs Rent Index (MBRI) the tool aims to help property seekers make informed choice between buying and renting of property in top Indian cities / sub-cities.
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The launch of MBRI follows the launch of hugely successful Makaan.com Property Index (MPI) which has been disseminating valuable information regarding the movement of residential property prices in key Indian cities for over a year. MBRI is yet another step to empower the property seeker with tools and intelligence that helps them take informed decision based on in-depth research. MBRI, is a numerical value, arrived at after taking into account several factors including average capital value of property, average rental value, rental yield, historical capital price movement, historical rental movement and inflation. A low MBRI indicates that it is much less expensive to buy a home than to stay on rental whereas a high MBRI denotes that it is much more expensive to buy a home than to stay on rental. MBRI has been collated both at city and sub-city level.

How to interpret MBRI?


MBRI of 1-20: This denotes that it is much less expensive to buy a home than to stay on rental, in these cities / sub-cities. Property seekers looking at investing here are advised to buy a property than staying on rentals. MBRI of 21-25: This denotes that it is relatively more expensive to buy a home than to stay on rental, in these cities / sub-cities. This is a neutral range and property seekers looking at investing here are advised to take the final decision based on their financial situation. MBRI of 25+: This denotes that it is much more expensive to buy a home than to stay on rental, in these cities / sub-cities. Property seekers looking at investing here are advised to rent a property rather than buying. The table and illustrations below explain what the MBRI is and how it is to be used. MBRI for key Indian real estate markets for the period October to December 2010 is given below.

Interpretation of MBRI:
Lets look at the MBRI data for Chennai (16) and Ahmadabad (18) and compare that with MBRI for Mumbai (25) and Delhi (28). A lower MBRI for Chennai and Ahmadabad indicates that it is less expensive to buy a property here than to stay on
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rent. Let us take an example to understand the MBRI dynamics with-in a city, if you look at Delhi NCR, we find that MBRI for Gurgaon, Faridabad & Noida is 17, 18 & 19 respectively, indicating that property seekers will be better off buying a property in these sub-cities rather than staying on rent. This also indicates that the rentals in these sub-cities are higher when compared with the prevailing capital values. On the other hand, MBRI for Delhi East, Delhi North & Dwarka is 37, 38 & 42 respectively, indicating that one should prefer to stay on rent rather than buying a property here. High MBRI also indicate lower rental value when compared with the capital value of property. Similar interpretation can be drawn for other cities / sub-cities.

Methodology:
Coverage Each city is divided in sub-cities (micro-markets) and micro-markets
into localities. Prices of properties are obtained across micro-markets through listings on makaan.com as well as makaan.coms nationwide sales force

Database
month

- The current Index comes from 32 micro-markets across the above

cities. The Index is based on minimum database size of 20,000 data points every

New & Resale properties - The MBRI database includes a good representation
of new as well as resale properties. Most reports on the property sector today are based on new developments, whereas actually new properties are relatively small % of the real estate supply with resale being the majority of supply

Index algorithm

- The Index is calculated quarter-on-quarter for each of the

above cities & sub-cities. It is a derived index using an advanced algorithm which factors in the average value of properties available for sale and rent.

Selection of cities:
Coverage - The MBRI covers Ahmadabad, Bangalore, Chennai, Delhi-NCR,
Hyderabad, Mumbai, and Pune. Other cities may be added in subsequent issues. These cities account for over 80% of the Indian Real Estate market.

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Factors that have been taken into consideration while selecting the cities: Population - The real estate sector is dependent on the demand of houses, which
in turn is dependent on the population. Populous and ever growing urban agglomerates like Mumbai and NCR have an ever growing demand for housing.

Economic Importance- Cities which are hubs of certain industries have


constant influx immigrants from across the country, which also creates a strong demand for housing beyond the needs of the resident populations e.g. Bangalore, Pune. Hence such cities have also been included.

Makaan mobile:
Makaan.com, People Groups Indian property site launched Makaan Mobile in 2008, the countries 1st SMS-based Real Estate Mobile Application. The application, developed by one of Indias leading MVAS companies, Mauj Mobile is aimed at enhancing the overall consumer experience for property sellers. Makaan Mobile provides an attractive alternative to property sellers who currently need to log on to the Internet either to list their property or to view responses from interested buyers. Harnessing the power of SMS, the Makaan Mobile application is compatible with almost all GSM models, and will cater to a subscriber base close to 200 million in India alone, which is almost 4 times the size of the Internet consumer base. With this application, Makaan.com becomes the first Indian Real Estate site to have launched a pure SMS based product. The website aims at making property buying and selling effortless and non-technical for the user. Ease of use, and mobile convenience are the cornerstones of success for Makaan Mobile.

Makaan Mobile is expected to revolutionize the way properties are bought and sold in the country, and given the fact that Makaan.com sees around 8.5 lakh unique visitors per month, the application is sure to garner acceptance amongst the property-selling community, especially real-estate agents, for whom the mobile phone is the weapon of choice.

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Makaan Mobile Application:


The makaan mobile application enables the property sellers to do the following using SMS feature on their mobiles: List the property (to Sell/Rent/Lease) on Makaan.com Receive responses against the property, through SMS.

Users of Makaan Mobile:


The makaan mobile application is useful for property sellers who : Who are generally on the move ( away from computer ) Who do not have a regular access to Internet/GPRS Who is not so Internet friendly?

Benefits of Makaan Mobile:


Convenient: You can list your property for Sale/Rent/Lease by using your mobile. Instant response: You can receive responses on your mobile. Reach globally: You can reach property seekers across the globe. No GPRS needed: No need to have GPRS or internet on your mobile. Do all function using SMS.

Click pay banner:


Makaan.com, the Indian real estate portal from People Group, announces the launch of their innovative product offering Click Pay banner, targeted at the broker community. Click Pay is the only product in the online real estate space that allows property brokers to list multiple properties in the same advertisement. These ads are highly customized and the property agents can create their own ads using various editing tools such as changing banner themes, font and size of text etc. In addition, the banner ads can be targeted to specific location of the property. Click Pay has the potential to revolutionize the way property agents advertise online. After the successful Smart Broker Banner, this is the 2nd unique product offering for
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brokers. Click Pay makes it easy for brokers to create their ads and they can start advertising with just 2000/- ; each time the ad is clicked the real estate agent will be charged Rs 5 which will be deducted from the above amount. The advertisers pay only when the user clicks the ad, hence if there are no clicks on the banner the advertisers will not be charged. Modification of the ad can be done at any time till the validity period of the ad. Mr. Aditya Verma, Business Head, Makaan.com said, 24% of all properties advertised in newspapers are multiple listings. Till now there was no product, which offered advertisers the option of multiple listing. The broker community is extremely important for us and this initiative will help in creating more net-savvy brokers/ agents.

Makaan Rating:
Makaan.com, the fastest growing online real estate portal today launched its Makaan Rating system. First of its kind in the Indian online real estate Industry, this unique feature will allow property seekers to rate the properties on the basis of usefulness of the listings. This system, apart from helping users select most accurate property listings in the shortest possible time, will also discourage advertisers to display incorrect information.

MPI (Makaan.com Property Index)

Makaan.com, India's fastest growing online real estate website by People group has launched countrys first Property Index. Christened Makaan.com Property Index (MPI) the tool is aimed at empowering homebuyers and industry players with up-to date information related to movement in residential property prices. This tool will assist the homebuyers to make an informed decision, when he/she heads out to buy their dream home. MPI aims to

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provide a direction to the buyer so that they invest their hard earned money in the right manner. Makaan.com Property Index (MPI) is part of a bigger initiative known as Makaan IQ that has been bringing out property intelligence & research reports for the benefit of homebuyers and real estate industry.

Makaan.com Property Index National:


Monthly Trend: At the National level, the property prices remained stable in the
last one month. The Index in Fig 2.1 December 2011 stands at 1466 as against 1469 in November 2011.

Quarter Analysis: Over the last 3 months, MPI has seen a small drop - it has
moved from 1507 in September 2011 to 1466 in December 2011, a drop of 2.7%

Year-on-Year Movement: As compared to last year i.e. December 2010, the


MPI in December 2011 has moved up by 19.2%.Prices had dropped significantly in the second quarter of 2010 due to economic slowdown. From there on, the prices have been rising steadily, with minor highs and lows.

Makaan.com Property Index City level: Monthly Trends: In the last one month most cities have seen much stability in
property prices. Property prices in the key property markets, Mumbai, Delhi, Chennai

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and Pune remained stable. Bangalore, Hyderabad and Ahmadabad registered a drop. Only Kolkata registered an increase.

Quarter Analysis: Over the last quarter, i.e. between September 2011 to
December 2011, there are downward swings in property prices across the cities. Delhi, Ahmadabad, Hyderabad and Pune registered a drop where as only Kolkata and Chennai registered a rise. Property prices in Mumbai remained stable.

Year-on-Year Movement: Over the last 1 year, i.e. between December 2010 to
December 2011, most cities have seen significant increase in property prices with Kolkata, Chennai and Mumbai registering the maximum appreciation. A drop was registered in Ahmadabad property prices while Hyderabad property prices remained stable. Fig 2.2

Fig 2.3

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Organizational Hierarchy:

Chief Executive Director

Chief Operating Officer

General Manager

Regional Manager

Branch Manager

Sales Manager

Assistant Sales Manager

Major Account manager

Account Manager
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Corporate Bodies of Makaan.com:


CEO, Founder and Managing Director- Mr. Anupam Mittal Executive Vice President and COO- Mr. Aditya Verma General manager- Mr. Devraj Mandal Branch and Sales manager (Hyderabad)-Mr. Devendr Yadav Assistant Sales Manager (Hyderabad)- Mr.Basaveswar.T

Growth Rate of Makaan.com:


Makaan.com is the fastest growing online real estate portal in India. In terms of revenue, listing and visitors Makaan.com is growing by 70% approx. Sources- my corporate guide, Makaan.com

Market Potential of Makaan.Com:


Significant potential to gain from non housing market/commercial real estate. Opportunity in the primary property market. Rising disposable incomes, financing terms and growing population. Powerful Industry. Growing economy, increased commercial activity coupled with rising number of Business and leisure. Travelers. Growing middle class, Consumerism, Macroeconomic policy decisions such as allowing FDI. Demographic impetus, Infrastructural Development, IT/ITES

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Fig 2.4 SWOT ANALYSIS OF MAKAAN.COM:


1.Huge market potential, one of the fastest growing online real estate portal. 2.Favorable macroeconomics for the residential market.
3.Increase in middle income/highincome households. 4.Increasing urbanization. 5.Availability of easy finance. 6.Increased traction in all real estate clusters.

1.the end of 2011,broke even on anannual basis with very low revenue 2.Limited internet connectivity 3. Internet based and not accessed by all 4. Authenticity of information is aproblem 5. There is no physical touch

STRENGTH

WEAKNESS

OPPORTUNITY

THREATS

1.Significant potential to gain from nonhousing market / commercial realEstate. 2.Powerful demographic impetus,infrastructural development, IT/ITES 3.Growingmiddleclass, consumerism, 4.Macroeconomic policy decisions suchas allowing FDI

1.Head to head competition withMagicbricks.com Indiaproperty.com, 99 acre.com 2.Local on organise agents 3.All the developers and agents are not aware about makaan.com 4. Not available in all the big cities in india.

(Source: - made by Mr. G S Dibyaprakash)

Revenue model:
MAKAAN.COM caters mainly to real estate developers, builders and brokers. Its source of revenue is from property listings, builders and brokers branding and visibility through micro sites, home page links and banners. Revenues are also generated from buyer database access and listings. At present, the site has good traction in the residential sector, mainly for primary and secondary real estate sales and purchase.

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LITERATURE REVIEW
The real estate boom in India was inextricably linked to the countrys economic stability, which had made India a preferred investment destination. India is on the verge of becoming one of the fast-growing economies, driven by many factors including multinational entrepreneurialism, buoyant local stock markets, robust economy-changing demographics and the overall emergence of India on the global stage. With great demand for housing for India's huge population and for commercial and industrial premises for its booming economy, large-scale real estate projects were launched across the whole country. This transformed the real estate business into one of the most lucrative sectors in the country. A sector which attracted venture capital, and diversified sources of funding including overseas and private domestic funds and private equity funds. To create an environment friendly to foreign investors, foreign direct investment to up to 100 per cent was allowed in 2005 in townships, built-up housing and construction development projects with the liberalization of FDI regulations. The inflow of funding catalyzed the organized development. However, in 2008, the global meltdown in real estate produced a corresponding downturn in the Indian real estate sector. Needless to say, the real estate sector plays a significant role in the Indian economy: it is second only to agriculture in terms of employment generation and substantially contributes to the gross domestic product of the country. Almost 5 per cent of GDP is contributed by the housing sector, and in the next few years it is expected to rise to 6 per cent. Moreover, the construction sector has also been responsible for the development of over 250 ancillary industries such as cement, steel, paints, brick, timber, building materials, etc. A study by a credit rating agency ICRA shows that the construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the Indian economy. A unit increase in expenditure in the real estate sector can generate a fivefold increase in income. With the downturn in the economy, and being a capital-intensive industry, the real estate sector started to face a liquidity crunch emanating largely from banks' cautious approach to financing the real estate companies. This approach was reflected in lower loan-to-property value, construction-linked payment and financing
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only for projects nearing completion. Further, real estate developers also had to cope with other sources of funding, such as private equity and stock markets, drying up considerably; receivables from residential projects under construction getting blocked; falling demand and buyers deferring payments until they took possession of properties. The resultant fall in valuation in the past few months coupled with high interest rates and low availability of money had put real estate developers on the defensive and kept homebuyers away. The true test of the professionalism in the real estate sector has to be seen now. In the past a seller's market existed, in which it was only necessary to market products or think about what kind of products to make. But now the market has perceptibly shifted towards the buyer and products must be designed to respond to market requirements. Because the demand in the affordable housing segment is encouraging, real estate developers now need to concentrate on profits through high-volume, low margin deals instead of high-margin and high-quality transactions. This will mean designing affordable housing options suited to average Indian families whose disposable income is steadily on the rise. In the residential segment, the first quarter of 2009 witnessed the launch of residential projects with some price rationalization. However, the price corrections are more pronounced in new launches than existing projects, which are mostly sold to end-users or investors, and whose costs are covered. Further, the correction in prices, cuts in bank interest rates and smaller unit sizes per apartment - owing to a shift from luxury to low-cost housing - has led to increased affordability for homebuyers. The current scenario has also opened up new locations for residential development, which were otherwise not very attractive to homebuyers. Far-flung suburban locations, where land is relatively inexpensive, have witnessed the launch of aggressively priced projects in the recent past. With a huge latent demand for housing units in India, the residential sector is a strong driver to lead the recovery in the real estate market in terms of sales volume and asset pricing. As far as the commercial segment is concerned, with a substantial surplus of office space, demand for rentals has declined overall. This has been compounded by subdued absorption levels and a decline in pre-lease activities across the country. Rents are expected to correct in varying degrees, creating considerable
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opportunities for occupiers and investors. The market is expected to improve sometime in late 2010 based on a better global capital spending environment and stabilization in other sectors of the economy. Certain reports estimate that the IT and ITES sector alone will require 150 million ft2 of office space across urban India by 2010. With the development in information technology, the marketers will overcome the above challenges. Online marketing is vital in even changing market. In Indian context online marketing is in the beginning stage, for its development, great amount of computer literacy & internet acquaintance is required. To solve the problems of existing physical marketing virtual (sky) marketing is required and e-marketing will fulfill this requirement. Indian customers are more habited and find of to see & physically verify the products, while they are purchasing the product. In view of the rapidly changing competitive global market, enterprises are striving to achieve improvement in performance, customer satisfaction, quality service, security and profitability. This is possible only with the passage of time. Marketing would change with changing situations. It will secure its important position let it be change its nature. It is everlasting, ever-changing & always given new direction for research. Economist's article on online trends (2000) says that though currently three quarters of all Ecommerce takes place in United States and the country accounts for 90% of commercial web sites, the situation is likely to change in near future. Roger.O.Crockett (2000) opines that, no longer is the web primarily a hangout for the techno-nerds. Net demographics are quickly coming to match the world's diversity. Combined business week and Harris polls conducted by USA reveals that 46 per cent of those who use the internet are women, up from 37 per cent three years ago. Danielle Guay and Jim Ettwein (1998) say that the computer hard ware and software industry is slowly but steadily losing its position as the number one industry in the internet commerce sales revenue. According to Lenkeeler(1999), interactivity turns the traditional concept of advertising upside down by putting the buyer in driver's seat. As now, customers are deluged with data; they can have greater control over buying process. He adds that, the audience is not captive anymore and marketers are going to have to work harder to entice them. The information provided by marketers is to be content rich and user friendly. The International Data Corporation
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(IDC, 2005) conducted a study on popular E-Commerce sites. The results showed that the biggest concern of most website operators were customization and personalization to sites. Internet and Mobile Advertising Association of India (IAMAI, 2006) reports that among Indian online purchasers, 85% are males and 15% are females. McNair (1978), Rosen burg and Hirschman (1980) and Scheiderman (1980) share the belief that electronic shopping would become the dominant mode of shopping by 2025. Bennett Gold LLP, Chartered accountants (2002) study conveys that, consumers both on and offline, have existing perceptions of online retail as a way to save money and online retailers need to fuel these perceptions through marketing and communications efforts. But the GartnerG2 survey speaks something different. The survey found that 81 percent of online consumers value convenience when making a purchase online, compared with 33 percent who value price savings. In fact, an examination of the motivating factors among online buyers by GartnerG2 found convenience-related issues dominate; only 33 percent of the respondents feel that getting better prices is an important driver to buying on the internet. In this modern age of internet almost every progressive business have web presence, some of people think that website is just a commercial requirement but others think that it is mandatory to run their company activities. These different theories about internet have been discussed a lot in recent marketing literature. In the past decade marketers have been arguing about the role of internet in marketing. In the start marketers used internet as communication tool but as time passed they realized the true potential of internet and the idea of Internet marketing evolved. Smith and Chaffey (2005) give a short and basic definition of Internet marketing as Achieving marketing objectives through use of electronic communication technology. According to Hoge (1993), Internet marketing

is the transfer of goods

or services from seller to buyer that involves one or more electronic methods or media. Internet Marketing began with the use of telegraphs in the nineteenth century. With the advent and mass acceptance of the telephone, radio, television, and then cable, electronic media have become the dominant marketing force. Hoges (1993) idea of Internet marketing is simple but it does not touch the important aspect of customer relationship. Strauss and Ansary (2006) defined Internet
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marketing in their latest book as the use of information technology in the process of creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stake holders. This explanation tells that e-marketing is not only about selling products or providing services through IT but it is lot more than that. It is not just traditional marketing using the information technology tools but its a strategic model to achieve brand value and provide customer satisfaction. Electronic Marketing (E-Marketing) can be viewed as a new philosophy and a modern business practice involved with the marketing of goods, services, information and ideas via the Internet and other electronic means. By reviewing the relevant literature it is noticed that definitions of electronic marketing (E-Marketing) vary according to each author's point of view, background and specialization. For that, while Smith and Chaffey defines it as: Achieving marketing objectives through applying digital technologies (Smith and Chaffey, 2005: 11), Strauss and Frost define it as: The use of electronic data and applications for planning and executing the conception, distribution and pricing of ideas, goods and services to create exchanges that satisfy individual and organizational goals (Strauss and Frost, 2001: 454). On the other hand, the review of the relevant literature revealed that one of the main obstacles in the literature is the unclear way of dealing with the concept and definition of E-Marketing. In this respect most of the researchers misused the term EMarketing; the majority of researchers are using the terms: E-Marketing / internetmarketing / E-commerce / E-business as equivalents or a deferent wording for the same meaning, which is incorrect because they are deferent. For example, EMarketing has a broader scope than internet marketing since Internet Marketing (IM) refers only to the Internet, World Wide Web, e-mails. While E-marketing includes all of that plus all other E-Marketing tools like: Intranets, Extranets and mobile phones. In contrast with that, E-commerce and E-business have a wider and broader scope than E-Marketing.

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Chapter 3: Research Methodology, Data Collection, and Sample Design: Research methodology
A market research process is considered as a sequence of some highly interrelated steps.

Formulate the problem:


The first valuable function of marketing research is to define the problem that need to be solved. Only problem can be defined carefully and precisely can research be designed to provide pertinent information.

Objectives of the Study:


All companies are having their own planning and business strategies but the company who Is having the best, is the most successful company among its competitors. So the company can get competitive advantage by applying best and effective marketing strategies. To acquire an overall knowledge regarding online Real Estate market. To understand the practices of Real Estate market in Hyderabad and its relevance to MAKAAN.COM. To collect the relevant information, this will enhance my knowledge and will add some value to my organization. To create the brand awareness of makaan.com

Scope of the Study:


The study covers the real estate sector. The information was gathered from Real estate professionals dealing with residential as well as commercial buildings. The project duration was 45 days. The study covers the Hyderabad and Secunderabad region. The study focused the online real estate market.

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Limitation of the Study:


I am not a professional researcher.

The area was restricted to Hyderabad and secunderabad region. The time limitation was 45 days. The sample unit was limited to 100 respondents. The respondents are restricted to real estate agents and developers only. The sample size was small also considering that the interview were conducted in a short span of time, there is high probability that the respondents might have given biased responses. Lack of prior research study on the topic.

Determine the research design:


The source of information For a study and research design go hand-in hand. They both depend on how much is known about the problem. According to me my project research work, this is a descriptive research and a cross-sectional design. Because this research design is used "to describe systematically the facts and characteristics of a given population or area of interest, factually and accurately. And cross-sectional design, because the sample is typically selected to be the representative of some known universe.

Data collection method and forms:


My research study was based on primary data as well as secondary data sources.

Primary data:
Primary data are originated by the researcher for the purpose of immediate investigation at hand. In the dynamic nature of the business and customers, often information needed is not found in the firms data. The primary data is collected through personal interviews using structured Questionnaire, surveys and

observations.

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Secondary data:
Secondary data are the information that already exists; they were gathered for a previous purpose not for a particular study. The Secondary is collected from management of the makaan.com, various books, journals and Internet.

Sample Design:
Designing a sample consists of three steps:

Sampling frame:
The sampling frame is the list a population elements from which the sample will be done. As per my research work my target population was real estate agents, developers and builders.

Sample selection:
Sample selection process requires specification about such things as whether it will be a probability or non-probability sample. As per my project research It is a probability and simple random sample, because each population element has a known, nonzero chance of being included in the sample and it is not necessary that the probabilities of selection be equal. only that we can specify the probability with which each element of the population will be included in the sample. Simple random sample because, the identity of each member of target population is known that they are real estate agents and developers.

Sample size:
Sample size involves determining how many people, business organization or other entity must be studied to get sufficiently accurate and reliable information. I have taken 100 sample size for my research work.

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Chapter 4: Data Analysis and Interpretation Analysis and interpretation of data:


Research in online real estate is very essential, because until knowing the preferences of customers it is difficult to provide a satisfactory service the preferences of various customers like individuals, agents and builders are different. The best way to know their preference is to conduct a personal interview. This interview helps us to know the need and wants of our customers as well as some relevant information, which will help us to maintain customer relationship as well as creating new potential customers. The research is carried out at various agents, builders and developers tom get feedback regarding relevance of online real estate portal with makaan.com.

Response from my field work:


I have visited more than 20 major locations but I got some response from some limited locations and these are Gachibowli, Hitech city, serilingampally and KPHB. I got more response from serilingampally, KPHB and gachibowli.

Route map of those 4 locations (Hi-Tech city, serilingampally, KPHB & Gachibowli.)

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Tab 4.1 Effect of promotion in different locations:

Location Gachibowli Hitech City Serilingampally KPHB 2 1 3 2

Response

Response
Response

3 2 1 Gachibolli Hitech city Serillingampally KPHB 2

Fig.

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For the data analysis I have selected 12 questions and these are as follows:
Q.1: Which type of property you are interested in:Q.2: When you advertise, which advertising tool do you prefer:Q.3: Are you associated with a real estate advertising company? Q.4: How do you reach your clients? Q. 5: Please rate the importance of features you are looking for in a service that could help you and your clients:Q.6: Which magazines, newspapers do you read regularly? Q.7: What is your monthly budget for advertising? Q.8: Which of the following real estate industry programme do you regularly attend? Q.9: Do you have your own website? Q.10: What kind of advertising do you do ? Q.11: Do you feel there is something we can do to make the house more desirable to sale? Q.12: Are you interested in social networking site for searching property, if yes which site?

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Q.1: Which type of property you are interested in:Property Apartment House Plot Rent Office Others Total Tab 4.2 Response (%) 70 5 5 5 10 5 100

Response (%)
80% 70% 70% 60% 50% 40% 30% 20% 10% 10% 0% Apartment House Plot Rent Office Other 5% 5% 5% 5%

Response (%ge)

Graph 4.1 From the above bar graph, it is interpreted that maximum number of respondents i.e. 70% are interested in residential property and that is Apartment.

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Q.2: When you advertise, which advertising tool do you prefer:Tools Agent Media Internet Real estate advertising company other total Tab 4.3
35% 30% 25% 20% 15% 10% 5% 0% agent media internet real estate advertise company other response(%)

Response (%) 20 30 20 20 10 100

Graph 4.2 From the above bar graph it is observed that, maximum number of property owners i.e. 30% is preferring media as the advertising tool. And rest of the respondents equally preferred to Agent, Internet and Real estate advertising company.

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Q.3: Are you associated with a real estate advertising company? Advertise company Yes No Total Tab 4.4 Response (%) 20 80 100

response(%)

20%

yes no

80%

Graph 4.3 The above pie chart shows that most of the real estate agents, builders and developers are not associated with any advertising company for listing their property and their proportion is 80%.

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Q.4: How do you reach your clients? Particulars Mail ads Web Newspaper Yellow page listing Former clients referral Total Tab 4.5
35% 30% 25% 20% 15% 10% 5% 0% mail web news yellow former referral response(%)

Response (%) 10 10 10 10 30 30 100

Graph 4.4 From the above bar graph it is clear that the conspicuous source for real estate professionals to reach their clients is former clients and referrals.

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Q. 5: Please rate the importance of features you are looking for in a service that could help you and your clients:Features Reliability Ease of use Price effectiveness Prompt support Total Tab 4.6 Response (%) 20 10 50 20 100

Response (%)
60 50 40 30 20 10 0 Reliability Ease of use Price effectiveness Prompt support

Response (%)

Graph 4.5 From the above bar graph, it is interpreted that most of the real estate agents i.e. 50% are looking for price benefits before selecting a service and very few respondents i.e. only 10% selected the option ease of use.

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Q.6: Which magazines, newspapers do you read regularly? Particulars Times of India The Hindu Sakshi Surya Namaste telengana others Total Tab 4.7
25%

Response (%) 15 10 20 20 20 15 100

20%

15% Response(%)

10%

5%

0% times of india the indu sakshi surya nameste telangana other

Graph 4.6 From the above diagram, it is clear that most of the real estate professionals i.e. 60% read Telugu newspaper rather than English news papers and Magazines.

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Q.7: What is your monthly budget for advertising? Particulars Less than 30 lakh 30-60 lakh 60-90 lakh More than 90 lakh Total Tab 4.8
60%

Response (%) 10 50 30 10 100

50%

40%

30%

response(%)

20%

10%

0% lessthan 30-60 lakh 60-90 lakh above 90 lakh

Graph 4.7 From above bar diagram it is interpreted that, 50% of real estate agents and builders spent 30-60 lakh for their monthly advertisement and 30% of them spent 60-90 lakh.

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Q.8: Which of the following real estate industry programme do you regularly attend? Particulars Trade show Seminar Office meeting Conference Social gathering Total Tab 4.9
45% 40% 35% 30% 25% 20% 15% 10% 5% 0% trade show seminar office meeting confrance social gethering response(%)

Response (%) 10 10 40 20 20 100

Graph 4.8 From the above diagram it is observed that maximum number of real estate professionals attend office meeting regularly. And from the above industrial programme 40% respondents select office meeting, followed by conference and social gathering as 20% both.

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Q.9: Do you have your own website? Particulars Yes no Total Tab 4.10 Response (%) 30 70 100

response(%)

30% yes no 70%

Graph 4.9

From the above pie chart it is observed that 70% of the real estate agents and developers are not having their own website and only 30% are having their own website.

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Q.10: What kind of advertising do you do? Particulars Hording Online property portal Magazine Daily newspaper Digital media Total Tab 4.11
60%

Response (%) 50 20 15 10 5 100

50%

40%

30% response(%) 20%

10%

0% hording online property portal magazine daily newspaper digital media

Graph 4.10

From the above bar diagram it is observed that, most of the real estate agents and builders are advertising through Hoardings rather than online portals and other media. And the proportion of Hoardings is 50%.

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Q.11: Do you feel there is something we can do to make the house more desirable to sale? Particulars Yes No Total Tab 4.12 Response (%) 40 60 100

response(%)

40% yes no 60%

Graph 4.11

The above pie chart shows that 60% of respondents agreed that, the online real estate companies can make their property more desirable for sale.

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Q.12: Are you interested in social networking site for searching property, if yes which site? Particulars Facebook Twitter Google+ Fropper.com Other Total Tab 4.13
60%

Response (%) 50 20 20 5 5 100

50%

40%

30%

response(%)

20%

10%

0% facebook twitter google+ fropper.com other

Graph 4.12 The above bar diagram shows that, Most of the respondents are interested to use social networking sites as a tolls for searching property and 50% of them selected Facebook as their preferred networking site.

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Chapter-5: Findings, Recommendations and conclusions Findings of the study:


Here it is found that most of the real estate agents, builders and developers, do advertise to sell their property. Online real estate portal is the tool by which real estate agents, developers and builders can reach to more and more customers, rather than other media. Here it is found that, most of the customers are preferring apartments and the percentage is more than 70%. As per the study 80% of agents and builders are not associated with any online real estate portals. so there is a market opportunity for online real estate market. As per the study online real estate portals is growing rapidly, but still most of the builders and developers are advertising through real estate agents and media. One of the important factor, which real estate agents end builders consider while selecting an online real estate service is price benefits. More than 70% of agents and builders are not having their own website. Most of the agents and builders are advertising through hoardings and news paper and the ratio among hoardings, news paper and online portal is 50:10:20. If we see the influence factor, that makaan.com is being popular among the people, due to its name makaan.com which means the dream house. Advertising is the most important tool by which any business can reach to more customers. As Hyderabad is concerned magic bricks.com is the top most competitors of makaan.com, followed by 99 acres.com and India property.com. Makaan.com is proved as the most innovative company among all the real estate portals, by launching click pay banner, makaan iQ, MBRI (Makaan Buying VS Renting Index), MPI(Makaan Price Index), makaan mobile etc. Customers are considered as the blood life of any business in todays scenario. Making one customer delight will give you another new customers Online real estate portals are taking over real estate agents
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It is clear that a strategic promotion is the tool by which an online real estate portal will be able to reach more and more customers. As per my finding 99acres.com is promoting more of its services through various media like hoardings, print media and digital media (on YouTube). Online advertising is the fastest growing media, predicted to be best within few years. Most of the people are using online portals due to ease of use and also they can get information regarding price, location and can compare with others properties. It is the online real estate marketing which change the face of real estate market.

Recommendations:
Makaan.com should promote its services in various media like hoardings, print and digital media and on YouTube. More executives should be appointed and trained accordingly to maintain the customers relationship with existing customers as well as creating new customers. Makaan.com should open its branches in most of the big cities in India. Makaan.com should focus on the commercial buildings, because there may be more demand in future as retail, hospitality and industrial are growing rapidly. The executives of makaan.com should reach more and more real estate agents, developers and builders. It should provide some free listing offers for some limited days to new customers to attract more and more numbers of customers. It should target the real estate agents and builders, who are advertising in hoardings, print media but not in online portals. It should be tie-up with some organization like banks, retail, automotive and others so that it can easily provide lead to its associate agents and builders. It should tie-up with a daily news paper to promote its service.

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Makaan.com is focusing on the builders, agents and developers, who are advertising through makaan.com, not on the buyers. So it should focus that how these properties will be sold-out. It should tie-up which some financial institutes, so that buyers can easily get the loan.

Conclusion:
The online real estate space will continue to grow as more consumers go online for searching real estate property and its relevant information. Most real estate professionals have recognized this and are active online in order to reach buyers, sellers and their future clients. For the online real estate companies the next step is to expand your online marketing strategy with the various consumer segments in mind. Real estate agents and developers should maintain your website and continue to syndicate listings. In order to advance online, real estate companies need to develop targeted marketing strategies to attract and retain each of the segments that they determine are important to their business. After all the analysis, I conclude that online real estate portals are very much effective and having a great market opportunity, but the real estate professionals (agents, builders and developers) are not aware about online real estate portals. As Hyderabad is concerned more number of the agents and construction companies are using makaan.com for listing their property but still Makaan.com is lacking in connectivity with customers to be the market leader. As the population and economy is growing in India, there is an opportunity for residential buildings. Similarly rapid growth in retail, hospitality and various industrials may create huge demand for commercial buildings. Also the online advertising media is the fastest growing media in India, so there is a huge opportunities for online real estate portals and Makaan.com in the upcoming years.

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BIBLIOGRAPHY
BOOKS:Kotler, Keller, Koshy, Jha .Marketing Management.13th edition. Pearson. Kotler, Armstrong, Agnihotri, Haque. Principles of Marketing.13th edition. Pearson. Churchill, Iacobucci, Israel. Marketing Research. Cengage Learning. Ramaswamy, Namakumari. Marketing Management. 4th edition. Macmillan.

MAGZINES: Business worlds

Websites:http:/www.makaan.com/index.php?gclid=CJTmo5iT4rACFQl66wod1yqw1 http://people-group.com http://www.people-group.com/about_us.php http://www.makaan.com/help/about-us.php http://www.makaan.com/help/terms.php http://www.businessworld.in/businessworld/businessworld http://en.wikipedia.org/wiki/Promotion_(marketing) http://en.wikipedia.org/wiki/Online_advertising http://explore.oneindia.in/industry/advertisingandmarketing/onlineadvertising/ http://www.indianrealestateforum.com/pune/t-online-real-estate-business-modelsdiscussion-16333.html http://www.economywatch.com/real-estate/ http://makaaniq.makaan.com/

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http://timesofindia.indiatimes.com/business/india-business/Mumbai-real-estate-togrow-faster-than-Bangalore/articleshow/14279019.cms http://rtn.asia/1174_indian-online-ad-spend-jump-54-year-iamai. http://www.cemi.com.au/node/86 http://www.freepatentsonline.com/article/International-Journal-BusinessResearch/178900254.html

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