A domain name such as "magsnet.net" is the name and or address of your organization that represents you on Internet. It is a self descriptive entity, e.g., in "magsnet.net", "magsnet" is the name of the organization, ".net" defines the type of the organization (such as Commercial, ISP, or nonprofit)

Domain names can be geographical such as "mags.net.pk", where .pk represents the country or origin of the company.

How do I register a domain name?
.COM, .NET, and .ORG domains are registered with Network Solutions and fees for registering domain is US$ 70 for two years.

.PK domains are registered with PKNIC. Cost for registering a domain with PKNIC is Available at Low Cost.