MSTC Should Explore Feasibility Of Becoming Aggregator Of All Actors In Real Estate Sector

Customer focussed services in the form of MSTC Webpage of Property e-Auctions and Ticket Raising System launched by MSTC

Nagendra Nath Sinha, Secretary, Ministry of Steel, attended the CII-MSTC Conference on Real Estate Synergy: Unveiling Opportunities through e-commerce in New Delhi today. Speaking at the occasion, he said, “MSTC should now explore the feasibility of becoming an aggregator of all actors in the real-estate sector and giving an identity to every real-estate asset in the country, after reinventing itself thrice over since inception.”

MSTC should also see whether it can do a complete integration of all stakeholders in real-estate starting from land-surveyors to brokers who possess local intelligence to those who value land and other actors. The PSU, which has reinvented itself many times over, should also see whether it can become a platform to give an identity to every real-estate asset in the country by geo-locating them” said Sh. Sinha, adding that it’s time to integrate Artificial Intelligence, Machine Learning, and Block-chain to add value to MSTC’s operations.

Property e-Auctions and Ticket Raising System

During the inaugural session of Conference, Secretary, Ministry of Steel, Government of India also launched two unique services of MSTC – MSTC Webpage of Property e-Auctions and Ticket Raising System.

From the MSTC Webpage of Property e-Auctions, buyers & sellers can check all the scheduled and upcoming auctions being conducted by MSTC, thereby providing a marketplace and ensuring ease of business. Under the Ticket Raising System, customers can submit any query which may arise from the buyers perspective. Through the launch of this system, MSTC plans to address all such queries in a structured manner.

Sh. Surinder Kumar Gupta, Chairman and Managing Director, MSTC speaking at the occasion mentioned that MSTC has sold properties worth ₹4268 crore in last three and a half years, and auctioned Non-Performing Assets worth ₹24,459 crore in the same period. “We have been primarily a B2B company but in the banking sector we have started selling to individual customers and ventured into the B2C category” added Sh. Gupta. He sought the partnership with CII and the private sector to plan the next big moves of MSTC in the real-estate sector.

“Being a government platform, MSTC is associated with bringing fairness and transparency to its services in the way it sells assets on its e-auction platform. We are witnessing an enormous increased demand in residential units, office spaces, retail spaces, retail leasing services in malls and other marketplaces. And MSTC will be a great platform to offer these e-commerce services by connecting buyers and sellers on its platform” said Sh. Harsh Vardhan Bansal, chairman, CII Delhi Sub-Committee on Infrastructure, Real-Estate and Urban Development and Co-Founder, Unity Group.

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