Nobroker plans to expand commercial operations in 50 cities

1
Nobroker plans to expand commercial operations in
50 cities
Riding high on rising demand for commercial,
office and retail spaces especially from
small companies, property portal Nobroker.com has
entered the segment and expected this
to contribute 30 per cent of revenue in a few
years, a top company official has said. The
company which is operational in Mumbai,
Bengaluru, Pune, Chennai, and Gurugram, is
also planning to expand its presence to the top
50 cities in the next few years. "There are over
42.5 million small and medium enterprises, which
are the biggest consumers of small commercial
properties in the country. There is also a huge
investment potential in the commercial real
estate market that offers a rental yield of 7-12
per cent, which is way higher than a residential
real estate.
"Our entry is in line with the rising demand for
commercial office and retail spaces,
especially with the fall in rupee and the rising
interest from NRIs," founder and chief executive
Amit Agarwal told PTI.
In the new business, the company is targeting
small commercial units, offices and retail
spaces in the 100-5,000 sqft range. If you are
looking for Good Amenities and facilities you can
choose kanakia sevens in mumbai.
"Our typical tenants are owners of SMEs looking
to take on rent these premises for shops
or offices. The other customers are those looking
to enter commercial space for better rental
yield. We have also seen a lot of demand from
NRIs thanks to the rupee plunge and better
yields," Agarwal said. As per estimates,
currently, the top 25 cities generate annual
brokerage worth Rs 14,000 crore in the commercial
rental, which is growing at 13 per cent annually.
Riding high on rising demand for commercial,
office and retail spaces especially from
small companies, property portal Nobroker.com has
entered the segment and expected this
to contribute 30 per cent of revenue in a few
years, a top company official has said. The
company which is operational in Mumbai,
Bengaluru, Pune, Chennai, and Gurugram, is
also planning to expand its presence to the top
50 cities in the next few years. "There are over
42.5 million small and medium enterprises, which
are the biggest consumers of small commercial
properties in the country. There is also a huge
investment potential in the commercial real
estate market that offers a rental yield of 7-12
per cent, which is way higher than a residential
real estate. "Our entry is in line with the
rising demand for commercial office and retail
spaces, especially with the fall in rupee and the
rising interest from NRIs," founder and chief
executive Amit Agarwal told PTI. In the new
business, the company is targeting small
commercial units, offices and retail spaces in
the 100-5,000 sqft range. "Our typical tenants
are owners of SMEs looking to take on rent these
premises for shops or offices. The other
customers are those looking to enter commercial
space for better rental yield. We have also seen
a lot of demand from NRIs thanks to the rupee
plunge and better yields," Agarwal said. As per
estimates, currently, the top 25 cities generate
annual brokerage worth Rs 14,000 crore in the
commercial rental, which is growing at 13 per
cent annually.
2
The brokerage from commercial market sales is
around Rs 7,000 crore. "We realised that after
successfully establishing ourselves as a key
player in the residential real estate, we are
ready to take the next natural step. We
understand the pulse of the market and aim to
disrupt this annual brokerage of Rs 21,000 crore
with this recent expansion into the commercial
real estate sector," he added. When asked how
much revenue the company is expecting from the
commercial segment, he said, "almost all the
revenue comes from the residential segment now.
In the long run, the revenue mix would be 7030,
where residential would be 70 per cent and
commercial would be 30 per cent."