Fri, Feb 24, 2017 | updated 12:24 AM IST

Auction House India launched to wipe off your buying, selling worries

Updated: Aug 04, 2016 17:51 IST
New Delhi, Aug 4 (ANI): Buying or selling a property is counted amongst the most important decisions you make in your life.

It can also be one of the most stressful, especially in the fragmented Indian real-estate market. While buyers face problems with low transparency in pricing and a lack of relevant information, sellers often have to deal with time-consuming legal aspects such as transfer of title.

It is these inherent complications and frustrations that Auction House India (AHI), a first-of-its-kind property auctions service in the country, is seeking to address with its operational launch.

A joint venture between the UK's largest property auctioneer, Auction House UK Ltd. (AHUK) and NU Dimension Advisory LLP, a part of a four-decade old business, AHI seeks to disrupt the Indian property services industry by making buying and selling of property easy, convenient, efficient and hassle-free for the end-user by introducing an auctions model.

The launch is being heralded as a paradigm shift that really could alter the dynamics of the country's real-estate sector.

Speaking on the launch, Mr. Saif Nawaz, Founder & Director AHI, said, "Auctions are the proven and popular way of buying and selling properties in several countries such as Australia and New Zealand, the UK, and the US owing to their speed, certainty and simplicity. This is what makes the launch of Auction House India such an exciting development in the country. By streamlining the entire process from listing to exchange of contracts, we can complete the process within as little as six to eight weeks. We are confident that the efficiency that our auctions process brings will find great acceptance within the Indian market."

Sellers benefit from unrivalled exposure through advertisements and marketing campaigns, and have the option to decide upon a 'Guide Price' which is indicative of their minimum requirement.

Mr. Bryan Baxter, Director, Auction House UK, added, "Real-estate auctions are already a popular trend in the US and the UK, with several sellers and buyers attesting the benefits of this model. Auction House India has been launched because we understand the need of the Indian consumer for swift, convenient and assured property buying and selling solutions. With AHI being a first-of-its-kind player in the Indian market, we are confident that we can set up a trend for real-estate auctions in the country."

With a proven track record in residential and commercial property transactions, the team at AHI also has a rich legacy and international brand acceptance behind it. AHUK is the market leader and the pioneer in the property auctions space and has a strong grip in the property auctions sector in the UK, accounting for more than 12 percent of all property auction sales (residential and commercial) in the country. Initially launching in Delhi-NCR, AHI will be looking to extend its service offerings to other Tier-1 cities and replicate the international success achieved by its parent company. (ANI)

New Delhi [India], Feb.23 (ANI): The government, in consultation with the Reserve Bank of India(RBI), has decided to issue Sovereign Gold Bonds 2016-17-Series IV.

Full Story >>

New Delhi [India], Feb.23 (ANI): The Central Board of Excise and Customs (CBEC) has launched a mobile application for Goods and Services Tax (GST) to inform the taxpayers of the latest updates on GST among others.

Full Story >>

New Delhi [India], Feb 23 (ANI-NewsVoir): WittyFeed, world's second largest and India's largest viral content company has also emerged as 20th most visited websites in India surpassing the most major social networking sites Twitter and Instagram being the fastest and youngest company to attain this ranking. The latest Alexa ranking as on 22nd February shows as the 20th most visited website in India. This is an enormous achievement for the viral content website from tier II cities in India called Indore.

Full Story >>

New Delhi [India], Feb 23 (ANI): Mobile wallet major MobiKwik on Thursday announced an investment of Rs. 300 crore for expansion aimed at growing its user base from current 50 million to 150 million in 2017.

Full Story >>

New Delhi [India], Feb.23 (ANI): White Page International recently released the research and jury based listing of India's Most Admired Brands and Leaders 2016-17 with PwC as Process Reviewers.

Full Story >>

New Delhi [India], Feb 23 (ANI-NewsVoir): Ministry of Skill Development & Entrepreneurship (MSDE) and the Wadhwani Operating Foundation (WOF) announced a partnership aimed to empower Government of India's Pradhan Mantri Yuva Udyamita Vikas Abhiyaan on entrepreneurship.

Full Story >>

New Delhi [India], Feb 23 (ANI): Enforcement Directorate on Thursday attached an amount of Rs.1,02,16,000 in case of Kishore Bhajiawala involved in post demonetization frauds.

Full Story >>

New Delhi [India], Feb 23 (ANI): The Reserve Bank of India (RBI) on Thursday announced that it has imposed a monetary penalty of Rs. one lakh (rupees one lakh only) on Sahebrao Deshmukh Co-operative Bank and Rs. four lakh (rupees four lakh only) on Progressive Co-operative Bank Ltd in Mumbai.

Full Story >>

Mumbai [India], Feb.23 (ANI-Businesswire India): The oil palm division of Ruchi Soya Industries Limited at Lunglei in Mizoram recently conducted digital banking awareness seminars to familiarise the farmers with transacting in a cashless economy.

Full Story >>

New Delhi [India], Feb 23 (ANI-BusinessWireIndia): L&T Technology Services Limited (NSE: LTTS), a leading global pure-play engineering R&D services company, and UTC Climate, Controls and Security and Otis, units of United Technologies Corp., today announced a strategic collaboration to create an innovation laboratory focused on integrated buildings, smart homes and cold chain technologies. The lab will be located at LTTS' Bengaluru campus, with support from the UTC business units.

Full Story >>

New Delhi [India], Feb 23 (ANI-BusinessWireIndia): Prudent Corporate, one of India's leading platform providers, has crossed Rs. 10,000 crore mark in its assets under management (AUM) on 31st Jan 2017. Prudent attribute this growth to its partners, clients and team Prudent and would like to thank them for being a part of this wonderful journey.

Full Story >>

New Delhi [India], Feb 23 (ANI): The Trade Facilitation Agreement (TFA), the first multilateral agreement in the WTO's 21-year history, ratified by two third members of WTO to become a reality.

Full Story >>

New Delhi [India], Feb 23 (ANI): Mylescars, a robust and cost-effective car sharing and self-driving solution, today announced the successful start to its flagship program the Myles Angels program.

Full Story >>

New Delhi [India], Feb 23 (ANI): Global leader in network and endpoint security Sophos has announced appointment of Shamshad Ahmed as director sales for its end-user security group (ESG) business for India and SAARC.

Full Story >>

New Delhi [India], Feb 23 (ANI): India's largest telecommunications services provider Bharti Airtel on Thursday announced that it has entered into a definitive agreement with Telenor South Asia Investments to acquire Telenor (India) Communications.

Full Story >>

New Delhi [India], Feb 23 (ANI-NewsVoir): An abstract of an ongoing study, "Fresh pear (Pyruscommunis) consumption may improve blood pressure in middle-aged men and women with metabolic syndrome," presented at Experimental Biology in San Diego indicates regular fresh pear consumption may improve blood pressure and vascular function in middle-aged men and women with metabolic syndrome (MetS.) MetS, a cluster of major cardiovascular risk factors highly associated with the development of chronic disease such as cardiovascular disease and type II diabetes, affects more than one in three U.S. adults.

Full Story >>

New Delhi [India], Feb 23 (ANI-NewsVoir): Mumbai based Entrepreneur Suresh Khairwar lead International Risk Consultants Insurance Brokers Pvt. Ltd. (IRC) rewrites the history of Indian Insurance industry by introducing Specialized Industrial Insurance to the Indian clients who are aligned to do business with best global practices.

Full Story >>

New Delhi [India], Feb.22 (ANI): The State Bank of India (SBI) on Wednesday said that it had taken cognisance of media reports that the ATM of one of its branches in the Sangam Vihar area of Delhi had allegedly dispensed some fake Rs.2000/- notes on February 6, 2017.

Full Story >>

Washington D.C. [United States], Feb 22 (ANI): The International Monetary Fund (IMF) has said that India's projected growth will be around 6.6 per cent in fiscal 2016-17 due to what it called "temporary disruptions" caused by demonetisation.

Full Story >>