Amita Singh

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Key Factors to Consider When Buying Bank Auction Properties in Chennai

Non-performing assets (NPAs) are a financial burden for public and private sector banks. Over the years, borrowers often need help to meet the loan repayment requirements and include their names on the defaulter list. The mortgaged properties are then enlisted as NPAs and sold to recover the capital. “In 2021, The Indian public sector banks (PSBs) reported over Rs 6 Trillion GNPA floating in the market. It has reduced from Rs 7.3 Trillion in 2019. On the other hand, private banks have reported a GNPA of Rs 2 Trillion in 2021. It has increased from Rs 1.8 Trillion reported in 2019.”

These private and public sector banks sell real estate properties in major cities like Chennai to recover the defaulted loan amount. Massive scope for real estate investors to find the ideal bank auction properties in Chennai.Bank auction properties can be a great investment opportunity for those willing to take on a little extra risk in exchange for potentially significant returns. But before diving into the world of bank auctions, it's essential to consider a few key factors that can impact your success.Here's a closer look at some critical factors when buying bank auction properties in Chennai.Let’s dive in!Factors to considerInvesting in bank auction properties can be ideal for various reasons. The properties are already checked and then considered mortgages for loans by the bank authorities. Hence, investing in them is safe. Before investing in such properties, an investor should look into this.

1.            No litigation make sure there is no litigation associated with the properties. Even though a bank has already passed a real estate property as a mortgage, it is ideal to do your homework. The top real estate investors advise interested buyers to perform due diligence and determine whether a property is free from litigation or legal obligation.

2.            Check the price and compare banks participate in an e-auction in different portals and enlist the NPAs at a rate lower than the market. It enables them to attract more buyers and secure the highest loan amount possible to recover. The price of the properties is 5 to 10% lower than the market value, which is what the investors look for. Even if it is statistically correct, a bank will always try to seek an excellent deal of NPAs.Hence, it is suggested that investors check the market price of bank auction properties in Chennai according to location and other associated features.

3.            Bidding rulesCheck the bidding rules online that an e-auction portal sticks to. In most cases, the standard auction rules get implemented. If an interested buyer is new to this, the buyer must know the clauses of the online auction of properties.

4.            Submission of earnest moneyEarnest Money needs to be submitted the next day if a bidder has won the auction. It sums up as much as 25% of the property price and is paid beforehand.

5.            Gather auction informationInterested buyers should gather auction information when it is conducted online. The Indian Banks Auctions Mortgaged Properties Information (IBAPI) delivers the required information online, or you can seek enlisted properties in an e-auction portal.

Reach us at https://www.auctionbazaar.com/contactus to talk to our experts to seek relevant information on Chennai NPA properties—bid according to your requirements and financial capabilities by following these factors.

About The Author- Explore and buy the latest bank auction properties with Auction Bazaar. The most transparent way to find and bid for the auction properties listed by banks and financial institutions. Contact for More Information!  

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Conference speakerphone - Their Crucial Role in Business

Imagine a professional meeting in a hybrid environment where a board of team members wants to contribute to the conversation with video conferencing, and noise creates a disturbance. What to do for a seamless video conference and business discussion? Utilize your smartphone's speaker functionality. Is it enough? The audio quality of most smartphone speakers is not for conferencing purposes. In this scenario, there is a need for One Device for Multiple Applications in Conference speakerphone to experience both hands-free convenience and superior sound quality. These speakerphones are optimized for video conferencing and compatible with all major web conferencing software, like Zoom, Skype, Microsoft Teams, GoTo Meeting, Cisco Webex, Google Meet and more.

Get a convenient and fruitful business conversation with the exclusive features of a modern multi-utility speakerphone distracting all unwanted background noises automatically

Conferencing is part and parcel of the professional world. With the advancement in digital technology and work-culture transformation, the use of speakerphones has transformed how we can conference with clients from anywhere in the world.

Let us take a quick look into the crucial role of a conference speakerphone in conducting business conversations of various modes.

Roles of a conference speakerphone

Audio and video conferencing is an excellent tool of communication that makes the individuals involved in a meeting conveniently understand various aspects of the conversations. The advent of top-notch digital platforms for group video calls, chats, discussions, etc., makes work much more manageable. Using a speakerphone is a great advantage regarding time, person-hours and resource utilization.

Here is how a speakerphone plays a crucial role in increasing productivity and creating a hindrance-free communication channel.

MEMS Microphone Array

Multiple individuals at both ends will attend a conference. It means a speakerphone will need to receive the conversations from various ends and transmit them with the highest quality to the other lot of the conference miles away. The latest speakerphones wield the 4 MEMS Microphone Array Technology that ensures 360-degree coverage of the entire conference conversation from different parts of the room.

2. Wider range

The latest microphone technology in modern conference speakerphones has a pickup range of 5 meters.

3. Active Noise Cancellation

The speakerphone is also responsible for picking up the conversations and not the noise created in an office space. The latest Artificial Intelligence-based active noise cancellation interface of a modern speakerphone enables conference participants to present their views without interruptions.

The active AI-powered noise cancellation interface is smart enough to cancel the noise from both ways. It means the sounds received from the other end will also be noise-free, with a seamless conversation at both ends. Hence, an uninterrupted conference with these speakerphones will be more productive.

4. Digital conferencing platform compatibility

The latest speakerphones can easily pair with its exclusive Bluetooth V5.3, compatible with popular web conferencing digital platforms such as Cisco Webex, Microsoft Teams, Skype, Zoom, Google Meet, etc. It also enables a speakerphone to connect with multiple devices easily.

Verdict

The above features are mandatory for hassle-free uninterrupted conferencing and conversation. High-quality speakerphones wielding top-class technologies are crucial for professional meetings and discussions. Prevent noisy distractions in conference calls. Delivers superior call quality, no matter if you are in the office, at home, or outside! Choose an efficient model for your office today.

Explore https://www.livey-tech.com/stellar-716cs-conference-speakerphone/.

About the Author:

Livey, a high-tech company headquartered out of Delaware, United States of America, offers Innovative product solutions that benefit business customers & consumers globally. Livey has adopted a business-friendly channel-driven policy of distributors and resellers, striving to create a win-win culture with all international partners.

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Commercial Real Estate Auctions: Tips & Strategies to Acquire a Good Property

One of the easiest ways to find and acquire authentic commercial real estate properties for investment or business use is to participate in

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E – Auctions Are a Growing Trend for buying residential, commercial, and Industrial properties

Imagine looking for a residential property in a preferred location in a city. You get to know that a bank is selling its non-performing asse

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 Simple Guide to Buying an Auction Property

Banks and financial institutions construct financial tools to help people with monetary resources. Such financial tools often come with mort

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Everything you need to know about SARFAESI Act 2002

India’s banking and financial sector is the prime pillar of our economy. It is taking unprecedented steps to make India a strong economy and

[ases3]

Commercial Real Estate Auctions: Tips & Strategies to Acquire a Good Property

  One of the easiest ways to find and acquire authentic commercial real estate properties for investment or business use is to participate

[ases3]

E - Auctions Are a Growing Trend for buying residential, commercial, and Industrial properties

Imagine looking for a residential property in a preferred location in a city. You get to know that a bank is selling its non-performing as

[ases3]

Simple Guide to Buying an Auction Property

Banks and financial institutions construct financial tools to help people with monetary resources. Such financial tools often come with mo

#auctionproperties

#bankauctionproperty

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Everything you need to know about SARFAESI Act 2002

India's banking and financial sector is the prime pillar of our economy. It is taking unprecedented steps to make India a strong economy a

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Why buying Auction property is a beneficial proposal for both banks and buyers

Loans disbursed against mortgages are standard in banks. Banks authenticate the properties mortgaged by a borrower to reduce the risk of spending a lot of money. A borrower needs to pay back the loan amount in installments. After the constant failure to pay EMIs, the borrower is a defaulter.

Source: Statista

“In financial year 2021, public sector banks in India reported a total of over six trillion Indian rupees in gross non-performing assets (NPA). This was a decrease from the 7.3 trillion Indian rupees in 2019. In contrast, private sector banks reported an increase from 1.8 trillion in financial year 2019 to two trillion Indian rupees in financial year 2021 in gross NPAs.

Non-performing assets are also referred to as "bad assets". They consist for example of non-performing loans, which are unlikely to be repaid in full by the borrower. NPAs pose a challenge to banks because they reduce the profitability as well as the liquidity of banks.”

The asset kept as a mortgage is a non-performing asset (NPA). To retrieve the money lost in loaning, the banks often sell NPAs in auctions. Let us find out how auctioning properties can benefit banks and buyers.

Benefits of auctioning NPAs for banks

An increased value of NPAs is a liability for the banks. By selling the properties through public auctions, capital gets recovered from the market. A bank is eligible to sell NPAs without the intervention of courts, as per the SARFAESI Act 2002.

The benefits of auctioning NPAs for banks are:

Banks can autonomously make decisions and sell the properties entitled as mortgages for loans.

When a borrower fails to meet the terms of loan repayment as per a bank’s agreement, the bank can sell the property kept as a mortgage to retrieve its money.

It seldom happens that auction properties generate returns bigger than the loan amount after several years of the loan repayment failure. Hence, NPAs often become a significant investment for banks that offer better returns in the future.

Banks can also use other recovery methods to retrieve capital from the market by using the NPAs.

Banks can sell these assets directly as they are the legal owner of the mortgaged assets and can make decisions accordingly.

Benefits of buying auction properties from banks

As mentioned earlier, banks want to eliminate the overwhelming volume of NPAs to retrieve capital from the market. Buyers often show high interest in buying such properties for the following benefits.

Low competition due to the minimum bidding value set by the banks and the earnest money deposit (EMD) that a bidder has to deposit makes competition less and offers excellent opportunities for investors.

The banks validate the mortgaged real estate properties before disbursing loans to borrowers. Hence, an interested buyer will not have to authenticate a property as it has already been done.

The entire process is done publicly with no discrepancy in the auction system. Anyone meeting the criteria can become a bidder and participate in the process. The deposited EMD value is returned when one cannot get hold of an NPA. Hence, once a tender is closed, and the auction is complete, EMDs are returned to all bidders.

Identifying and investing in authentic properties with such processes is easy.

Extreme convenience of paperwork when a bank is involved in the process of property name transfer is also a huge benefit.

These are the benefits of auction properties for both banks and buyers. Property auctions have been a very effective way for banks to reduce the stress in their books and for prospective buyers to own a home at discounted rates. All interested bidders must engage in a legal title search of the property. This process helps them verify the validity of critical documents.

Get assistance from a dedicated relationship manager for the end-to-end handling of transactions - from selecting the property from the database to consulting services in auction management at https://www.auctionbazaar.com/services#dedicated-relationship-manager.

About the author 

Explore and buy the latest bank auction properties with Auction Bazaar. The most transparent way to find and bid for the auction properties listed by banks and financial institutions. Contact them for More Information!

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How to find distressed properties? Pros and cons of purchasing distressed properties

Due to their low prices compared to the market price, distressed properties repossessed by financial institutions/banks can be a compelling investment option. Banks lend money to borrowers in exchange for mortgages. When the borrowers cannot pay back, the banks become the owners of properties and can entitle them to sell or auction. A mortgaged property of a defaulter is considered distressed for banks as it holds the key to capital retrieval from the market. However, there may be disadvantages linked to such properties with hidden liabilities in unpaid dues and legal issues that can obstruct deal closure.

Source: Distressed investing in India: Coming of age (aima.org)

The banking sector non-performing assets (NPAs) in India are currently estimated at over 10% of assets i.e. ~US$135 billion.  

Non-bank finance companies (NBFCs) in India — especially those focused on wholesale credit — have also been impacted by rising corporate stress –mostly in sectors like real estate. NPAs for non-banks in India are currently estimated at ~7% of assets i.e. ~US$25 billion. Thus, overall stressed assets in the Indian financial system are estimated to be upwards of $160 billion, providing a large market opportunity for investors.

Pros and cons of buying distressed properties

A property auction by the bank occurs when the estimated value of capital stuck in those non-performing assets (NPAs) increases considerably. Banks then conduct auctions to retrieve the amount attached by attracting interested buyers.

Here is the list of pros of buying such properties from banks.

1.          Price is generally lower than the market

The estimated price of distressed properties is usually lower than the market price. It is an attractive option to invest in real estate properties for investors. Sellers like banks look for quick resolution and often sell properties at a low cost to recover deficit cash.

2.          Higher potential for profit

Another good reason for investing in such properties is a better return on investment from the market. Holding on to those properties will bring exceptional returns in the long run. Investors foresee the future and understand the value of those properties better.

3.          Authentic properties

The properties are authentic and validated by public sector banks. Hence, a property auction by  bank is a self-certification of the authenticity of those properties.

Now that we know the pros of distressed properties let us define the cons.

1.          Might attract renovation cost

Renovation costs can be higher for such properties. A bank might be holding a distressed property for a decade or more. It may have suffered weather damage. Hence, assess the investment calculation before going ahead in purchasing a property.

2.          Location matters a lot

Investing in distressed properties without judging their locations can be a blunder for investors. Savvy investors use online portals to check property locations and even hire professional assistance for smooth transactions.

How to find distressed properties?

If you are an interested investor, look for the popular online portals that provide information and carry out auctions of distressed properties. Gathering information related to such properties becomes much more accessible.

Online auction portals share information on properties that public and private sector banks will auction. Understanding the bidding process will be clear too. Start scouting for the properties available for auction in your preferred locations.

You can also seek professional assistance from the service provider's representatives and participate in the bids. A property auction by the bank is a transparent process where a bidder can see the property bids of other contenders.

Verdict

Weighing the pros and cons of purchasing distressed properties from banks can be an excellent decision in terms of investment. Make sure you have checked the location and condition of a real estate property under auction and then decide. Search for such properties in online auction portals like Auction Bazaar to get authentic information covering almost all the major cities.

About the author 

Explore and buy the latest bank auction properties with Auction Bazaar. The most transparent way to find and bid for the auction properties listed by banks and financial institutions. Contact them for More Information!

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Wired & Wireless Headsets, Speakerphones for Office, Call centers, Home - Livey-tech.com

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Wired Headsets and Headphones | Livey

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 Headsets & Headphones for Work from Home Solutions - Livey

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Stellar 715CS Conference Speakerphone -  Livey

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How to Select the Best Headset for Your Office Phone?

The emergence of work-from-home culture has opened multiple dimensions for business owners, entrepreneurs, freelancers and even employees to utilize their fullest potential. Working at the office comes with the blessing of good infrastructure. In a nutshell, an individual will need a good setup to provide his services and skills around the year.

All it requires is a good working environment accompanied by solace and peace. For instance, a good headset for office is an essential element to look into. The latest headphones make it easier to work even in a noisy environment to keep up the level of productivity at its best. There are thousands of options available, but choosing the most suitable one can be daunting.

Here is what you need to know to make the right decision.

What to look into a pair of office headsets?

AI-powered Noise Cancellation

Noise cancellation features powered by Artificial Intelligence (AI) are game changers. Even if the working environment is noisy and cluttered, you can still make noise-free conversations with your clients and will enjoy a fruitful outcome. Smart acoustic filters with environmental noise cancellation (ENC) are what you need. Hence, look for headsets that offer proper noise-cancellation features for uninterrupted conversations.

Dual Microphone Array

Before buying a pair of headsets, check what the leading brand's offer regarding technology that will serve your professional needs. The advanced Dual Microphone Array and Precise Positioning designs in the latest headsets will enable a speaker to converse with high definition and the lowest noise transmission possible.

High Definition of Sound Quality

The latest professional headsets offer high-definition sound quality due to the incorporation of wideband technology, offering a higher conversation rate between two individuals. It means the sound received and transmitted by a modern headset will be off the chart and ideal for professional conversations. This feature enables the speaker to reduce fatigue in listening and discussions.

Body Strength and Durability

A Headset for the office must have a strong body supported by a flexible yet lightweight metallic body. The features of the headset's body will also protect the electronic parts installed inside. One of the most significant issues that office headsets face is prolonged use and wear and tear. The cables installed often get disconnected due to distortion of the earpieces and headband. The mouthpiece sometimes tears off the body.

Check the best-in-class brands offering good headsets with a strong-built and durable body that can withstand wear and tear. The durability of the headset determines its lifecycle.

Ergonomic

The headset should feel lighter and be hands-free so that the hours of conversations do not feel like a burden. The connectivity features of a Bluetooth headset for the office must be compatible with the latest digital platforms used by modern offices.

Verdict

These prime elements determine the efficiency, durability and usability of a Headset for the office. Search and compare the best products from the top brands and make a fruitful decision.

If you are looking for AI-driven Noise Cancelling headsets, your search ends at Livey. Explore our innovative, intelligent products at https://www.livey-tech.com/.