Real estate startup forays into Pune

Real estate startup forays into Pune
10/10/2016 , by , in News/Views

The Bengaluru-based property startup NoBroker set foot in the city’s property sales market.

According to the startup – which already has a presence in the property rental segment – Pune residents needed a platform to buy property without having to pay brokerage charges.

NoBroker aims to cut out the role of middlemen in property transactions, and to connect owners of properties directly with potential tenants or buyers. Apart from Pune, it currently has a presence in three cities – Bengaluru, Mumbai and Chennai. After Bengaluru, Pune is the second city to get a sales platform from the company.

“On a property worth, say, Rs 1 crore, the average buyer may pay around Rs 2 lakh for brokerage, whether through standalone brokers or through other property portals. That is a wastage of money as the broker does not add any value to the transaction. Aspects like title verification are nowhere as costly as is often claimed by brokers. We will offer our platform for free to flat-owners, while potential buyers can search for free till their allotted nine contacts are exhausted,” says Amit Agarwal, CEO and one of the founders of NoBroker.

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