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Magicbricks Launches India’s First Online Property Bidding

PTI | New Delhi |

Ties up with M3M for first project ‘My Bid, My Home’ Magicbricks, India’s No.1 property site, today 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 1355sqft-7875sqft 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.

Commenting on this industry first initiative, Mr. Sudhir Pai, CEO, Magicbricks, said: “With My Bid, My Home, Magicbricks brings yet another industry first value proposition for home buyers. Consumers will get a wide choice of properties to be owned through online bidding. Our online bidding platform is an innovative proposition that will certainly disrupt the category by putting the price decision in the hands of the buyer.”

Commenting on this initiative, Mr. Pankaj Bansal, Director, M3M Group said,”M3M is pleased to bring to you this innovative campaign. With this bidding opportunity, we have brought to the forefront an excellent option for genuine buyers who till now had been apprehensive and were waiting for the right price. Not only is it a win-win situation for the end-users but moving forward, the digital platform will become an important clog in the way people buy properties.”

For ‘My Bid, My Home’ customers can log on to and bid for properties in M3M Golfestate (Fairway West), M3M Merlin and M3M Woodshire 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 size apartments on offer ranges from 1355 sqft (two-bed room apartment) to 7875 sqft (five-bed room apartment). 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.

About Magicbricks is India’s No.1 property site. With monthly traffic exceeding 12 million visits and with an active base of over 14 lakh+ property listings, Magicbricks provides the largest platform for buyers and sellers of property to connect with each other in a clear, transparent manner. With this in mind, Magicbricks has innovated several product features, content and research services, which have helped us, build the largest audience pool.

About M3M M3M Group stands for “Magnificence in the Trinity Of Men, Materials & Money”. The motto of the company is “quality, timely delivery and excellence”. Distinguishing features of M3M within the industry are its innovative, unique and unparalleled concepts, multi-dimensional realty solutions, unmatched high service standards and commitment towards developing state-of-the-art real estate masterpieces.

As one of India’s fastest growing real estate conglomerate, M3M has changed the very contours of Indian real estate space. Within a short span of time, the Group has launched a slew of iconic projects, designed and developed by world-class partners. They epitomize the new bustling Millennium Gurugram. The Group has already delivered five of its iconic and with 13 more projects in its vibrant portfolio, is all set at dominating the Realty space with spate of deliveries planned in the next 2-36 months.