NoBroker Introduces Metro-Based Property Search Feature

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    Proptech unicorn NoBroker has unveiled a new feature on its platform, allowing users to search for rental properties based on their proximity to metro lines, providing greater flexibility within budget constraints.

    Previously, NoBroker users were limited to searching for homes based on their workplace’s proximity, measured in kilometers. With the introduction of this metro-based search function, individuals can now explore residences located along the nearest metro line to their workplaces. A recent report by NoBroker highlighted that more than 70 percent of individuals faced challenges while searching for rental properties that match their preferences. These challenges are primarily attributed to the high rental rates driven by strong demand and a significant disparity between supply and demand in the real estate market.

    Over the past year, there has been a notable 40 percent increase in rental rates in localities near office complexes in cities across India. Akhil Gupta, Chief Product and Technology Officer at NoBroker, elaborated on the new feature, stating, “Through our metro-based search feature, we aim to streamline the property exploration process and help people alleviate traffic congestion. This innovation is set to standardize rental rates around office complexes and IT parks, reducing the strain on natural resources caused by overcrowding.”

    Gupta emphasized that the three key advantages of this feature—rental rate rationalization, addressing the demand-supply gap, and reducing the burden on natural resources—have the potential to bring about significant positive changes in the real estate market, with tenants standing to benefit the most.

    Read more: East Hyderabad: The New Engine of Real Estate Growth Driven by Government’s Look East Policy

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