Residential Property through e-auction - Has anyone bought it
People can buy homes at lucrative rates Came across this information that City Development Authorities e-auction properties (as below) These are apparently seized properties, for whatever reason, and now government is selling to earn money
Though I have also read multiple accounts of people buying these and then getting stuck in years of legal battle with original owners
Has anyone bought it? Would appreciate genuine review
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Not always seized properties, sometimes they do it for better price discovery. It is easy for government authorities here resulting in revenue maximisation. I have recently came across such a property in one of the zones mentioned above but auction went over and above my budget.
What is the price range usually?
Bidding starts from circle rates goes till (-5/10%) of market rates. So you can figure out the pricing as per the area.
(Just for the hint, the particular case I mentioned it went to 1.7 crs for a 190 sq yd residential plot)
I don't think this would work. The government employees would have already setup deals to sell these to their relatives and friends. Rest is just for show
This js much much better than buying some random builder property