MagicBricks introduces new section for commercial real estate

Times Business Solutions owned realty classifieds website MagicBricks.com has launched a new section dedicated to the commercial real estate market. The new section, called Commercial.MagicBricks.com will offer local city-centric options for retail showrooms, shops and commercial office space. The portal will also showcase new projects (for investors) and properties for rent/lease (for end users).

Sudhir Pai, business head, MagicBricks, said, "Today, there is demand for business/retail space not only from organised businesses and small entrepreneurs but also from individuals who have wisened up to the fact that returns from commercial property are often much higher."

According to the company, while property investors are interested in selling and booking profits after a few years, other buyers want to generate the rental income they can gain from commercial property. There is also strong demand from end-users- SMEs, retailers and businessmen, who want to buy or lease a place for their office purposes.

Currently the site has over 5,000 listings in the Delhi NCR region and builders such as DLF, BPTP, M3M, Jaypee and Era are showcasing their properties for lease and sale. Additionally, there are dedicated sections catering to the information and advice needs of property seekers that includes a dedicated knowledge section called 'Expert Speak'- that provides the latest reports on the commercial market space and a user Q&A segment.

The company claims that the content, tools and features of the new section are a result of user surveys, client feedback and in-depth interviews across developers, brokers and individual users. In one such user survey, out of 467 survey respondents, 456 respondents were looking to invest in commercial property.

Other online real estate websites in India include Info Edge's 99Acres.com, indiaproperty.com, People Group's Makaan.com, iPropery.com and housing finance company HDFC's HDFCRed.com, among others.