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People Interactive Launches Real Estate Portal Makaan.com

People Interactive (the Shaadi Group) has launched a real estate portal called Makaan.com, and there’s a review up at ReviewSaurus (via WATBlog). Others in this classifieds space include MagicBricks (Times Group), 99acres (Naukri Group), Indiaproperty (Bharatmatrimony Group) and Jaaydaad. WATBlog has compared some of these sites, here. Notice how Naukri, Bharatmatrimony, Times and Shaadi are all in almost the same classifieds domains…one gets into it, and others follow. Then again, the likely reasoning in such cases is that more players in a particular segment help grow the market…but that’s in the short term.

Recently, during an earnings conference call, Naukri MD Sanjeev Bikhchandani had mentioned a slowdown in business for 99 Acres, because the government tightened credit in real estate and home loans. That situation may now be compounded by the current global liquidity crunch - no one knows how long this bearish trend will last. The supply of credit (including for Real Estate) is influenced by changes in interest rate, CRR and lack of liquidity. I would also imagine that the real estate portal business involves substantial offline work - contacting, educating brokers who might not be net-savvy.

Aug 16, 2007 9:04 PM ET

Posted In: E-Commerce, Classifieds Business, Companies, Shaadi

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Comments (12)

Aug 17, 2007 5:47 AM

comments are not going

Preeti

Aug 17, 2007 5:48 AM

Addition to there there are classifieds portals (  kijiji.in, click.in etc) who offer similar services with other stuff too. Now its a clear drawn battle between targeted and generic protals. If we draw a parallel from developed markets both have been a success but not more than 2 in a segment. In US real estate segment has rent.com as clear winner, jobs has monster and autos has cars.com and then there are classifieds like craigslist, kijiji etc. so aren’t we crowding here? Or everyone is just jumping to try the luck. At least for makaan it seems so unless they have a very different model of doing things.

Priya

Aug 17, 2007 6:02 AM

So who have they hired to head Makaan.com?

Hello

Aug 17, 2007 2:43 PM

There is no clear dominence in the online real estate domain. 99acres and magicbricks have the advantage of early entrant but the lead is still not established. There is still space for more to join and the one who have a differentiated approach with well defined business model will lead the pack. May the best man (portal) win !!

Sumitji

Aug 17, 2007 2:46 PM

Good to see yet another real estate portal, well one of the real estate portal realacres.com is nominated to the red herring Asia top 100, they were here for quite some time,  Didnt hear much about them lately but checked their site after seeing the nomination, must say good technology.

Mohit D

Aug 17, 2007 3:00 PM

It looks like a pretty nice website, I definitely like their logo!

FSBO Louisville

Aug 20, 2007 8:56 AM

Yes, In fact the site makaan.com is made realyy good with beautiful colour combination.
In fact, i am pretty sure that it would be tough competition for 99acres,magicbricks,indiaproperty & all other real estate portals.
Also they have significant features on their site.

Jhankana

Aug 21, 2007 1:16 PM

Hey Mohit thanks for that comment and I would also like to give my best wishes to all the other indian companies who are nominated for red herring 100 asia.

Smita

Aug 22, 2007 3:12 PM

my 2 cents wud be that there are perhaps no clear winners in this space, and a clear leader is yet to be established….i just happened to browse thru makaan.com, and i must say some very interesting features have been implemented…not sure how many visitors they’re getting though, as i havent seen much advertising, but i wud rate it higher than magicbricks or 99acres, as they are pretty complicated to a end user like me….i hate any of the times property anyways… :)

Yash

Aug 24, 2007 4:02 AM

Search results for makaans on Makaan.com are any (wo)man’s wildest dream come true.

My search query,  Makaan: 1 bedroom; budget under 10 Lakhs;  Locality Mumbai South.  (Mumbai south, because I desired to check for a place (to purchase, in Dadar West), plainly out of curiosity.

And surprise of surprises.  One of the two results thrown up had this huge space
Apartment
Dadar (West), Mumbai South
Area 1400.00 Sq.Ft
2 Bedrooms, Rs. 714/Sq.Ft
Rs. 1000000.00
Negotiable

I live in Dadar West myself, and I broke down thinking about my current dwelling’s devaluation :-)

I spent the last few years looking for a dream-home of this size and at this fantasy rates, in Dadar West, through estate agents, relatives, friends and the next person I could bump into at the street corner.  But here it was all the while, right under my nose, snuggled up somewhere in the database cluster of Makaan.com.  And my my, the chap supposedly is ready to negotiate, too. Means, I can bring it down by, say, 50-75 K probably.

C’mon guys, all of you, let people see some authentic information, and then let’s talk about the biz model…and ahem, a simpler UI, please!!  All of you look the same!!

Hemant Charya

Feb 29, 2008 7:36 AM

i hav gone thru all these online real estate portals whether it is magick bricks or india property but i find 99acres as best one as it is user freindly and has helped me in searching my house.

gautam

Nov 26, 2008 9:09 PM

Makaan.com is getting really popular these days
it is very helpful for estate agents as well as the real buyers .....

kashif

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