On November 27 a realty website, Magicbricks.com ties-up with PNB Housing Finance Limited for conducting an e-auction of 45 re-possessed properties. The properties will be available to the customers at prices lower than the prevailing market rates, for quick possession.
The properties are located in Indore (1), Jagadhri (1), Ludhiana (1), Sonipat (1), Yamunanagar (1) and Zirakpur (1), NCR (35), Bhiwadi (2), Mohali (2).
“After the astounding success of ‘My Bid, My Home’ during which we generated sales in excess of Rs.200 crore, we are now thrilled to announce yet another endeavour for our auction platform with PNB Housing Finance Limited. Through our auction platform, we are able to provide innovative offerings to our customers and it certainly signifies the defining moment for the online real estate industry. We are looking forward to a great partnership with PNB Housing Finance Limited,” according to Ritesh Mohan, Sales Head-Strategic Accounts, Magicbricks.
“With growing penetration of online transaction, the trend towards e-auctions of properties has picked up speed in India. We foresee it as a viable ground and hence have partnered with Magicbricks to offer our re-possessed property to customers at attractive rates. Participation in the e-auction will expand our reach, without investing much in physical infrastructure or manpower and will make the recovery process much more efficient and transparent,” according to, Prasanna Singh, National Head – Collections, PNB Housing Finance.
With the help of auctions.megabricks.com customers can register and become a part of the auction process.