99 Acres: India's Top Property Portal - History, Awards, Net Worth, Land Studies - Prof. P, Assignments of Law

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ASSIGNMENT

Course : BBA FMS Sem-

Subject: Fundamentals Of Digital Marketing

Name : HARMIK RANJODIYA

Enrollment No. : 92201424021

Topic : 99 Acres

TOPICS

• Introduction

-Founder

-About Founders

-Current Status

-Net Worth

-More Information

-Case Studies

-Advertising

-Reference Links

-Office Locations

-Workplace Culture

-Digital Marketing Followed By 99 Acres

~ AWARDS AND RECOGNITION

**- PropTech Mobile App of the Year Award 2019

• 99acres.com won the award for ‘Personalized User Journey
• Best Mobile Appies Award 2015
• 99acres.com won the award for having the ‘Most Innovative Mobile App’** **in the real estate category
• CMO ASIA Awards 2012
• 99acres.com was awarded the ‘Most Admired Real Estate Website of the Year’** **at the 3rd CMO Asia Awards for excellence in the real estate segment.
• BCI Awards 2012
• 99acres.com was recognised as the ‘Best Real Estate Portal’ in 2012.
• Accommodation Times Awards 2012
• 99acres.com was announced the ‘Best Online Realty Portal’** by the Accommodation Times in 2012.

Sanjeev Bhikhchandani

(Founder of 99 Acres)

~ CURRENT STATUS

Urban Real estate in India comes from nine cities namely, Chennai, Bangalore, Hyderabad

in South, Kolkata in East, Mumbai and Pune in the west and Delhi, Noida, Gurgaon in the

Northern part of India. These nine cities may be contributing close to about 60 per cent

of Real estate development. The gap between the supply and demand is huge in affordable

housing and it may take long years to meet the demand for the economically weaker

housing.

Our Prime Minister’s vision of Housing for all by 2022 is a noble cause.

Once this is achieved, this one mission alone can take our country to different heights.

This will bring lot of prosperity to our country - crime rate will come down by more than

50%, productivity will go up by at least 30 per cent, and people would become more

civilized. This must be done like an emergency for the prosperity of our Nation at all levels.

From Shriram, we are keen to play an important role in contributing to our

Prime Minister's vision. What is most important for our country now is Housing for All.

Only this will uplift our society. For us to make this Housing for All to come true,

we need affordable long-term capital. It can be through FDI or ECB or even long term

bonds. We need to look at various options of making cheaper funds available for this

sector.

~ NET WORTH

• Rising real estate prices and shrinking housing demand has severely hit the net worth of top realty magnates in India. Since 2007, the combined fortune of top 12 real estate tycoons has dropped by 90 per cent in terms of rupees and by 99 per cent in terms of dollars. KP Singh, promoter and chairman, DLF Ltd, the Chandras of Unitech and Rakesh Kumar Wadhawan of HDIL have been the major losers of wealth in the said period....

Magicbricks was at the heart of a discussion in Info Edge's earnings conference call (Q3 FY17). Info Edge owns 99Acres while the Times Internet owns Magicbricks and are rivals in the online real estate listings space. The two, in the past, have argued over which site is the biggest, based on traffic data. The Economic Times (owned by the Times of India) recently published data which said that in Q3, when the real estate sector was impacted by demonetization, MagicBricks reported revenues of Rs 37 crores for the quarter, up 43% year-on-year, and of Rs 96.6 crore for the first 9 months of this 2016-17 fiscal year. When asked about this, Info Edge CEO Hitesh Oberoi chose to compare 9-month revenues. "Two-three points", he said: "One, if you sort of go by that release in their newspaper, what they have said is that they have collected about Rs 97 crores in the first nine months of this year. So if you look at our numbers (Editor: check the chart above: totals to Rs 84.8 crore for nine months) and our collections, we were sort of almost equal to them or maybe slightly higher till the first six months of the year. (Editor: MagicBricks was Rs 59.6 crores versus Rs 58.7 for 99Acres in the first six months) "It is only in Q3 that they are claiming that they have grown at 43% and there are maybe two or three reasons for it and our view; one, of course, we could have grown…

~ Land Acquisition: Case studies from India Over the years, key infrastructure and connectivity projects in major cities such as Delhi NCR, Mumbai and Bangalore have suffered due to land acquisition issues. 99acres.com lists down some of the projects that have faced incessant delays due to land acquisition and the current status of the same. In the recent past, large-scale acquisitions of farmland for infrastructure and commerce development by the government have often led to controversies concerning compensation paid to the affected landowners and farmers. Owing to protests and restrictions from property owners, most of the times these profitable projects have to be abandoned, thus, giving a blow to the development process. Let us have a look at some important case studies related to major infrastructure projects which have been hindered due to land acquisition.

~ Noida Extension land acquisition case ~ The land acquisition issue in Greater Noida West or Noida Extension is perhaps the most highlighted case in the recent years. A newly developing region in 2011, Noida Extension received the biggest blow when the Allahabad High Court overruled land acquisition done by the Greater Noida Authority in some villages, after farmers formally accused the State of acquiring land by force. The verdict brought the booming residential developments to a halt almost immediately, leaving thousands of investors in a lurch. However, the Supreme Court’s ruling in 2015 upheld the Allahabad Court’s decision, thus, relieving the stranded homebuyers. To conclude the issue, the apex court asked the Greater Noida Industrial Development Authority (GNIDA) to increase the compensation to Rs 1,400 per sq yd and return 10 percent of the developed land to the farmers. Though the area was freed of land litigations, it still has the cloud of doubt looming over it as homebuyers continue to remain cautious of investing in Noida Extension.

~ Navi Mumbai International Airport ~ Touted to be a game changer for Navi Mumbai’s realty landscape, the Navi Mumbai International Airport (NMIA) has been in the news ever since its launch. Amidst several issues hampering the progress of the airport, acquiring land has been the biggest challenge for the State administration. While the Government of Maharashtra approved the project in 2008 and the Environment Ministry cleared the project in 2010, there was minimal progress for almost a decade owing to opposition from land holders. The nodal agency of the project - City and Industrial Development Corporation (CIDCO), has however, reported that over the last few months, the project is moving at a fast pace, with basic measures, such as the land transfer agreement and financial closure and novation having been finished in July 2018. With the issue of land acquisition resolved, and all the approvals from the State cabinet in place, CIDCO is optimistic about inaugurating the first phase of the airport by mid-2021.

~ Land acquisition for Peripheral Ring Road, Bangalore not started yet ~ Delayed by more than two decades due to land acquisition issues and allocation of funds, the 66 km-long road Peripheral Ring Road (PRR) project, connecting Hosur Road and Tumkuru Road in Bangalore, is finally inching towards becoming a reality. The Bangalore Development Authority (BDA) has recently floated a tender to get the feasibility and a detailed project report (DPR) prepared by the consultants. To save on land acquisition costs, the civic body has decided to make it an elevated corridor which is estimated to cost Rs 13,000 crore. The decision will bring down the land acquisition cost by 40 percent. However, it remains to be seen if the project gets stuck in any hurdle once the process of acquiring land initiates.

"A home for every dream, whatever the size," says the new OOH campaign launched by one of India's leading online real estate businesses, 99acres. The campaign executed by Span Communications was rolled out in Delhi/NCR, Mumbai, Pune, Bangalore and Hyderabad. Aimed at anyone looking at buying, selling or renting property for their own use or investment, the 360-degree campaign will also run across television, radio and digital mediums, where the brand is already advertising.

~ REFERANCE LINKS ~ https://www.desidime.com/deals/refer-your-friends-to-fill-99-acres-survey-and-get-50-paytm-cash ~ https://www.instagram.com/99acresindia/