Magicbricks to e-auction 45 properties in partnership with PNB Housing Finance on November 27

NEW DELHI: Real estate website,

Magicbricks

.com, will be conducting an e-auction of 45 re-possessed properties on November 27 in partnership with

PNB Housing Finance

Limited.

The properties, available for quick possession, will be available to the customers at prices lower than the prevailing market rates.

The properties are located in NCR (35),

Bhiwadi

(2), Mohali (2), Indore (1), Jagadhri (1), Ludhiana (1),

Sonipat

(1), Yamunagar (1) and Zirakpur (1).

Terming it as a defining moment for the real-estate industry, Ritesh Mohan, Sales Head-Strategic Accounts, Magicbricks said, “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 online real estate industry. We are looking forward to a great partnership with PNB Housing

Finance

Limited.”

Commenting on the growing trend of e-auction of properties in the country, Prasanna Singh, National Head - Collections, PNB Housing Finance said, "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."

The customers can become a part of the auction process by registering at auctions.megabricks.com.

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