Commertia Internet launches online portal for commercial properties

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Pune based Commertia Internet announced the launch of its online portal dedicated to commercial real estate segment. Details of over 15,000 properties across India are available on its website www.commertia.in.

The company claims that it is the only portal in India that caters specifically to commercial space segment.

"The commercial space market is very scattered in India with limited players.This portal helps to reduce the time in searching properties. It gives an opportunity to the customers across the country, to buy, sell and lease a commercial property at a single click. With this portal, we aim to increase the accessibility and availability of commercial properties in India," said Shadab Malik, founder & CEO, Commertia Internet.

He added, " With the current market size of 22-25 per cent out of total real estate industry the commercial real estate is expected to grow at the rate of 15 per cent by 2020."

According to research agency JLL, average transacted office lease sizes across Mumbai, Bangalore, Chennai and Pune have increased from the uncertain times seen in first quarter of 2014- prior to the general elections. Market morale was low in first quarter of 2014. Following elections in May 2014, however, market sentiment improved gradually, with Mumbai, for example, witnessed 65 per cent appreciation in average deal sizes between second quarter of 2014 and second quarter of 2015.

Ashutosh Limaye, national director -research, JLL India said, "The number of transactions has also increased considerably across all these cities. Pune leads with an impressive 89 per cent y-o-y growth in transacted space per lease deal, followed by Bangalore at 78 per cent and Chennai at 67 per cent. Good days are returning for office real estate and tenants will remain in an expansionary mode. Occupiers are not only leasing larger office space, but they also expect all the space to be on the same floor. Developers are constructing bigger floor plates to meet the evolving demand."

The portal offers services like property search property valuation, ROI calculator, commercial yield, valuation heat maps, office space calculator and locality info.