NoBroker.com disrupts India's commercial real estate

December 31, 2018
Share this Post: 

NoBroker.com, a leading peer-to-peer real estate platform in India, within just 3 months of breaking into commercial real estate, has closed 1,050 deals across Bangalore, Mumbai, Pune, Chennai, and Gurgaon.

The company has saved INR 30 crore (approximately US$42 million) worth of brokerage. Having thoroughly disrupted the country’s residential real estate sector through technological innovation, NoBroker.com, is now transforming the commercial real estate segment with its tech-led approach. NoBroker is currently operational in the five cities mentioned above and is already a leader in residential real estate with 15,000 closures every month.

With around 41 lakh (approximately 4.1 million) small commercial units in top 25 cities, the Indian commercial real estate sector is currently extremely fragmented and disorganized and is plagued by large-scale information asymmetry and lack of transparency.

Within these cities, commercial rental brokerage accounts for around INR 14,000 crore (approximately US$1.9 billion) annually, growing at a CAGR of 13%. The annual brokerage for commercial resale is about INR 7,000 crore (approximately US$999 million). There is therefore huge potential in the small commercial units space which is currently dominated by brokers.

Read more here

Join us in Bangkok the 19th to the 21st of March for the Property Portal Watch Conference.

Property Portal Watch Bangkok Conference. Mar 19-21, 2019

December 31, 2018

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Rightmove Not Listening
Rightmove to ‘Reject’ Listings Without a Price—and None of Its Current Listings Are Compliant

From today, new listings that don’t display a price cannot be uploaded to Rightmove. Rightmove made the announcement to comply...

Read More
Zigbang Investment Scaled
Zigbang Secures $77m Funding Before Anticipated IPO

Real estate marketplace ZigBang has raised ₩100 billion ($77 million USD) in what is believed to be a pre-IPO equity...

Read More
Shutterstock 1668133759 Scaled
Offerpal secures pre-seed funding round

Proptech startup Offerpal has raised an undisclosed pre-seed funding round led by Swedish venture capital firm PropTech Farm, with Offerpal...

Read More
Immowelt And Remax Partnership
Immowelt and RE/MAX Expand Their Partnership

Remax Germany and immowelt will increase their collaboration through shared marketing services. Immowelt will now provide some of its digital...

Read More

Popular News