Magicbricks Launched India’s First Online Bidding Platform for Residential and Commercial Properties



Magicbricks announced the launch of India’s first online bidding platform for residential and commercial properties and tied-up with leading developer M3M for the inaugural ‘My Bid, My Home’ under which consumers can bid for ready-to-move-in residential properties ranging from 1355 sq ft-7875 sq ft in Gurugram on Oct 7.

Magicbricks has been recently awarded the Standardisation, Testing and Quality Certification (STQC) by the Ministry of Communications and Information Technology, making it the country’s only real estate portal eligible for a bidding platform for properties. For the first-of-its-kind certification, Magicbricks had to conform to 150 stringent parameters laid down by the Ministry of Communications and Information Technology.

With My Bid, My Home, consumers will get a wide choice of properties to be owned through online bidding. The projects are located in Gurugram Sec sector 65, sector 67 and sector 107 respectively and have been recently delivered by the developer and are currently being offered for possession to the customers.Registrations started from Sep 15 and will be open till Oct 6 (mid-night) by paying an earnest money.

The projects are outside the purview of GST as occupancy certificate has already been received and buyers would have an additional benefit of 12%.

The properties available for bidding would have their base price lower than the market price. The developer is also offering a slew of benefits to customers ranging from PLC wavier, free car park, club membership to one-year free maintenance for some projects, completed kitchen and wardrobes.

Priyanka Dutta

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