PRESS RELEASE

Mumbai, October 22, 2007: After making its mark in popular sectors like Online Matrimony, Social Networking, Mobile VAS, the Anupam Mittal led, People Group now ventures into the lucrative real estate market with their latest innovation – Makaan.com, an online real-estate portal. 

The group which has in the past created successful consumer internet brands like – Shaadi.com, Fropper.com, and Astrolife.com sees immense potential in the nascent online real estate market, and estimates that the opportunity in this sector will grow larger than the online job market.

Commenting on the occasion, Mr. Anupam Mittal, CMD, People Group, said, “The Indian Internet community is fast growing and there is a surge in consumerism amongst the audiences. Fuelled by this growth, sectors like online real estate are looking extremely promising. Considering the potential of the industry, and the kind of investments that are going into it, we anticipate the online real estate market size to touch Rs 1500 crores by 2015. And we are confident that Makaan.com will be one of the key contributors to this growth.”

Makaan.com provides users with a superior & efficient real-estate experience by making the entire online process of finding property buyers and sellers easier, faster, secure and more accurate. For buyers, Makaan.com offers a large number of property options, while for the sellers it provides better reach than ever before, ensuring an advanced user experience for both the audiences. 

The site believes in keeping its approach simple. Even though it already has listings in excess of 1 lakh, it maintains a clutter-free visual appearance. Makaan.com also has a lot of serious users, going by the fact that 73% of registered users are between the ages of 20-40 years, the actual home-buying group.

Makaan.com plans to target audiences across home-seekers, real estate agents and builders alike and is looking at changing the normal perception that online real-estate sites are simply for the home-searching individuals. Commenting on what exactly makes Makaan.com so sure about this, Mr. Aditya Verma, Business Head, Makaan.com, said, “At present we get close to 3 lakh unique property seekers per month. 46% of our registered users are real estate agents. Our focus is to provide a marketplace, where home-seeking individuals, real estate agents and builders interact with each other.”

Makaan.com had launched its beta version two months back. Based on an overwhelming response from real estate agents, individuals & builders across the country in these two months, Makaan.com has incorporated advanced search functionalities, which helps users find the information they need, in a much more accurate way, and in the least possible time. Makaan.com has a number of innovations and the visitors will be best served when they actually experience the portal.