A very new and unique Invest opportunity has emerged in the recent years, many Banks in India now have properties for sale belonging to their NPA Account. These properties are taken over by banks under the “Securitisation and Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002”.
Phoenix’s DRT Department, constantly looks for investment oppurtunities in DRT (Debt Recover Tribunal) Properties and NPA accounts in various Banks.
These properties usually come at about 20 to 25% less than pervailing market price, hence it is a good investment for short term or even on a long term basis.
The Department provides expert services such as:
- Identifying suitable investment properties.
- Liaison with Banks.
- Pre-inspections.
- Negotiations.
- Bidding at Auctions.
- Legal Papers Documentation.
- Transfers and Registrations.
Association with Banks:
- State Bank of India
- State Bank of Patiala
- ICICI Bank
- CORP Homes Limited
- Export– Import Bank of India
- Andhra Bank
- The Cosmos Co-op Bank Ltd
- UTI Bank
- Standard Chartered Bank
- Bank of Baroda.
Phoenix’s Tie-ups with Banks provides timely opportunities for lucrative investments with very good returns on investments.