India-based real estate marketplace NoBroker has launched a metro (subway) station-based property search feature on its site.
According to a news report, the new feature allows users to specifically search for properties in close proximity to the metro or subway rapid transit system. The launch, NoBroker says, is aimed at helping users find properties close to a metro station that can reduce their commute significantly as the post-pandemic return to the office picks up.
The metro station-based search feature is available to users looking for properties in Bengaluru, Hyderabad, Chennai, Mumbai, Pune, and Delhi-NCR — Indian cities with high levels of commercial activity and ever-increasing populations, which often overwhelm public infrastructure and cause heavy traffic. NoBroker’s initiative is aligned with the concept of transit-based developments, where housing is promoted along metro train routes.
“Our metro-based search feature is set to normalize rents around office complexes and IT parks, relieving the pressure on natural resources caused by overcrowding,” said Akhil Gupta, chief product and technology officer at NoBroker.
“People can now explore more housing options without straining their budgets. These three key benefits — rent rationalization, addressing the demand-supply gap, and reducing the strain on natural resources — are poised to bring significant positive change to the real estate market, especially for tenants.”
NoBroker has been in the news for a few launches and initiatives in recent months. The unicorn is reportedly joining the Indian government-helmed Open Network for Digital Commerce (ONDC), which promotes open networks for the exchange of goods and services. NoBroker partnered with fintech company AuctionBazaar to sell the non-performing assets (NPAs) of public sector banks, in May, within a couple of months of raising $5 million U.S. from Google.
Founded in 2014, NoBroker is — as its name suggests — a customer-facing real estate portal that connects owners and tenants directly, without intermediaries. Originally a search-and-discovery site, it has evolved into a marketplace with legal, financial and interior design services.