Real estate services firm Cushman & Wakefield and auction house Saffronart have announced a venture tp provide online sales and auction for purchasing exclusive properties all over India.
Property owners will get an opportunity to showcase their home or property to a larger base of buyers while buyers get access to purchase the property at fair price.
According to Cushman & Wakefield's estimetes approximately 9,000 homes in the luxury segment are planned in major cities over the next two to four years.
As per the partnership, Saffronart will utilise the auction platform to put the properties on auction while Cushman Wakefield will conduct the task of sourcing properties, collation of data and post sale procedures.
''Our partnership is geared to redefine the luxury residential real estate market through a unique approach to marketing properties locally and globally," says Dinesh Vazirani, CEO and co-founder, Saffronart. "Our combined expertise will allow buyers and sellers access to quality products and audiences and a transparent process for acquisition and disposition of residential real estate.''
According to Anurag Mathur, managing director, Cushman & Wakefield, India, ''This partnership is the first of its kind in India and is an innovative step within the residential services sector. It will help us better position ourselves to provide continued success in one of the fastest growing industries in India.''
The first quarterly catalogue has already been posted on the saffronart website and features seven distinctive properties in prime residential areas of Mumbai, New Delhi, Gurgaon, Bangalore, a holiday estate in Alibaug and a villa in Rishikesh.
''The newly released catalogue of exclusive properties is valued at approximately Rs100 crore,'' adds Vazirani.