Real estate services firm Cushman & Wakefield and global auction house Saffronart will kick off the first in a series of e-auctions of plush residential properties in the country next January.

The bidding, to be done online for four prime properties initially, would be open for all interested buyers across the world, Cushman & Wakefield Executive Director (Residential Services) Akshay Kulkarni told reporters here today.

"The auction is the first-of-its-kind and will be open for all across the world. It will be an online bidding process that will start January next for residential properties," Kulkarni said, adding that the properties identified are from the major metros, including Mumbai.

Though both the firms have not yet zeroed-in on any particular date for the e-auction, they said it would be for 36 hours only.

The base price for the properties has been fixed at Rs 5 crore, Kulkarni said.

Cushman & Wakefield, along with Saffronart, also said that they have released a catalogue showcasing luxury vacation homes in India.

The catalogue, 'Prime Properties Fall 2010', enables buyers to choose from about six individual homes and three development projects in Goa, Chennai, Kodaikanal, Delhi, Kasauli and Haridwar.

The three development projects consist of exquisite villas in Goa and Kasauli. While there are two developments in Goa with 12 and 44 villas each, Kasauli has about 35 villas.

The individual homes, designed and styled by famous designers such as Tarun Tahiliani, among others, would start from Rs 2.5 crore onwards and are located amidst hills, lush green plains or on serene riversides. The highest price has been quoted for a property in Delhi.

The properties are beautifully presented in a manner befitting their premium aesthetics, helping owners realise the appropriate value for their properties. Similarly, buyers get to discover properties that may otherwise be hard to find and benefit from a level of pre-screening, selection and information that is often difficult to come by for properties in India.