NEWS launches property auctions In India

Dear readers, we are happy to announce the launch of our brand new web property Auctionz . Auctionz is a first of its kind real estate auction portal in India. Online Real estate and property auctions are very active in developed markets, In India property auctions are generally done by Banks for recovery of distressed assets.

Auctionz gives real estate investors and buyers an opportunity to quickly grab the assets they require at a better rate while helping builders and banks to quickly liquidate the assets. We initially started our operation at Hyderabad and plan to spread across few metro cities shortly. Currently, we signed up with real estate developers and some banks in Hyderabad.

Our process is very simple.

  1. Auctionz evaluates the property from the builder for auction.
  2. List the property with Reserve price and the minimum bid amount.
  3. Buyers see the property and start bidding.
  4. Highest bidder enters into a sale agreement with the builder once the auction ends.
  5. Buyer self-finances or avails bank loan to pay the amount to the builder.
  6. Buyer owns the property.

Initially, we plan to auction Independent Houses, Villas, and apartments. Eventually, we would like to auction commercial properties, Plots and agricultural farms.

To know more please visit launches property auctions In India
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