Sun, Oct 23, 2016 | updated 01:11 AM IST

Auction House announces sale of 13 properties at AHI event

Updated: Sep 13, 2016 11:19 IST

New Delhi [India], Sep 13 (ANI): One-of-its-kind property auctions service in the country Auction House India (AHI) has announced the successful conclusion of its first auction with a total of 13 properties sold.

The event, which is a first-of-its-kind property auction to be held in the country, underlined why property auctions are tipped to be a game-changer for the country's real-estate landscape.

With estimated property prices ranging between Rs. 60,000 and Rs. 3.5 crore, the AHI event sold four out of nine properties on display auctioned off to the highest bidder.

Three other properties were sold before the event, while six properties has been sold under post-auction selling.

AHI is all set to host more auctions within the region and will be displaying nine more properties in its next auction.

"There has been a growing need for a shift in the way property buying and selling is approached in the Indian realty sector. Already popular and proven in countries such as Australia, New Zealand, the UK, and the US for buying and selling properties, auctions bring speed, certainty, and simplicity to the entire process," said Founder and Director Auction House India, Saif Nawaz.

"The successful reception to our first auction underlines the relevance of such a pioneering approach in the Indian context. We will be conducting more such auctions to make property buying and selling easier, more convenient, efficient and hassle-free," added Nawaz.

A joint venture between UK's largest property auctioneer, Auction House UK Ltd., and NU Dimension Advisory LLP, Auction House India (AHI) comes with a rich legacy, international brand acceptance and a proven track record in residential and commercial property transactions. (ANI)