Hindustan Times-The future of real estate auctions in India
Traditionally, real estate auctions in India were limited to offline discovery, non-transparent and intimidating process and always a worry about legal and pending dues issues.
This not only faced several limitations in awareness, as industry surveys by the National Real Estate Development Council (NAREDCO) in 2022 show that only 27 per cent of respondents were aware of real estate auctions, but also limited participation due to information asymmetry and fear of getting a troublesome property.
However, there is a huge latent demand for these properties as typically auction properties are priced well below the market price and are usually ready-to-move-in properties. Both end-users and investors can benefit massively by buying these properties.
