Buying and selling real estate becomes simpler, swifter and more efficient with the operational launch of Auction House India!

Buying and selling real estate becomes simpler, swifter and more efficient with the

operational launch of Auction House India!

Unique business approach aims at addressing buyer and seller pain points through the

globally-adopted auctions model for real-estate sales

New Delhi, July 13, 2016: 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. This is thanks to the unique auctions concept and the benefits that

it brings for both buyers and sellers. Potential buyers have access to complete visibility of

details such as the condition and the market rate of the property. They can also visit the

property before the auction on a designated viewing day. AHI has also tied up with banks and

financial partners in order to facilitate easier loans, adding greater convenience to the buying

experience of the user.

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. Once a seller sends in a request to list a property for auction, AHI deals with all

legal issues and publication of the property in the auctions catalogue. Within six weeks, the

property is put up for sale in the auction. As soon as the highest price has been reached

through competitive bidding in the auction room, the hammer falls and the property is

announced as ‘sold’ which signals the exchange of contracts. The buyer signs the sale

documents and pays over a deposit with the balance of the sales price being due on a pre-

agreed completion date.

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.”

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% 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.