Foreclosureindia.Com Started E Auction Services For all Banks In India Thru BankAuctions.IN Portal

HYDERABAD, India - April 1, 2013 - PRLog -- Foreclosureindia.com is the one and only website in India listing the auction properties of all the banks and financial institutions across India since Nov 2009. It's the first of its kind internet portal that helps the buyers of property in getting the free foreclosure listings information of banks and financial institutions happening in and around 34 major cities of the country. During the last one year it has achieved its mile stone  about visitors and page views. The details are reported as detailed below.
No of total visits to the site       - 1,343,374
No of unique visitors          - 652,724
Total number of page views     -10,458,830
Returning visitors          - 52.05 %

Average viewership of each auction property listed is 485. The visitors came from 45554 cities & 212 countries.

Foreclosureindia.com has set a target of 100 % growth during the present financial year.
The advantages of   E publicity through it are explained as detailed below.
E mail alerts  are being sent to 49000 plus registered users on daily basis.
It is displaying the Auction properties details in two other real estate websites also.

According to Ministry of Finance, Government of India directives All auctions of immovable properties, under 'The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002,  shall be carried out through E Auction only to ensure a free, fair and transparent process. All DRT's are conducting E Auctions to sell secured assets. Some Banks have adopted to E auctions  for selling of some of the NPA’s. Foreclosureindia.com  has started secured portal BankAuctions.IN for providing E auction services to all Banks, DRT’s to sell NPA’s online to Indian Public and non resident Indians working in different countries.

State Bank of Hyderabad and Chaitanya Godavari Grameena Bank, Guntur has empaneled BankAuctions.IN for conducting E Auctions. More than 10 public sector Banks & private sector Banks are processing their empanelment requests for conducting E auctions.  It targets to conduct 6000 E Auction of NPA’s during this year.

The advantages are elucited below.

Success rate of selling of properties will be more, as BankAuctions.IN is providing wide publicity to NPA properties.  Others are only conducting E auction.
Price for conducting E  auction is lowest.
Non performing assets disposal is the only exclusive activity for it, where as it is non core activity for other E Auction service providers.

ForeclosureIndia.com requests the Banks, DRT’s , Housing finance companies, State Fince corporations, all other Organizations disposing of NPA's under SARFAESI Act & DRT 's to utilize their services.