Hi,
If you have hosted your site on a server, you just need to point your domain to your host nameserver. You can obtain the nameserver details by contacting your host. You are no longer required to modify any local hosts file. To deploy your ASP.NET MVC files to a server, you can do it either via FTP or WebDeploy facilities. You need to contact your host to obtain these details as well.
About the problem you experience on your localhost, I suspect that you have not installed your ASP.NET MVC 3.0 framework properly. Please download it from
MVC3 and make sure you install it properly.
You could also check here -
How to add a new site in IIS7. You should set a right CNAME or A record in your DNS settings pointin to your subdomain.