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Quikr Realty bags another 5-yr mandate for auctioning stressed properties

Online-to-offline brokerage business Quikr Realty on Monday said it has bagged a five-year mandate from capital markets regulator Sebi for auctioning of over Rs 7,000-crore stressed properties.

Topics
Quikr | Realty estate

Press Trust of India  |  Mumbai 

The price of a residential unit, on an average, is 9-10 times annual income in a city like Mumbai, and about six-seven times in most tier-one cities

Online-to-offline brokerage business Realty on Monday said it has bagged a five-year mandate from capital markets regulator Sebi for auctioning of over Rs 7,000-crore stressed properties.

This is second stint of empanelment of Realty, erstwhile HDFC Realty, by Sebi for valuation and liquidation of stressed assets, the company said in a statement.

"This multi-year empanelment which is renewed for another five years will leverage the company's pan-India builder relationshipsand the transaction mandate includes over Rs 7,000 crore worth stressed properties," it said.

Realty, however, did not specify the key stressed projects forwhich it had received the mandate.

The company has builder relationships across 22 cities and more than 4,800 brokers in its network to oversee real estate e-auctions.

Quikr Realty's earlier associations with Sebi included liquidation of Pearls Agrotech Corporation (PACL), Sahara and Unitech assets.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mon, August 17 2020. 16:35 IST
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