India’s leading bank State Bank of India (SBI) is all set to conduct a mega e-auction to sell multiple properties on 5 March 2021. This is an opportunity for the people who are looking forward to buy a new property at a cheaper price.
SBI in its tweet mentioned that all kinds of properties like residential, commercial, industrial will be offered at e-auction.
The properties included in the auctions are of the defaulters who fail to pay their dues. As per SBI’s official website, “Our Bank puts up the mortgage properties (like Residential properties / Commercial properties etc.) of defaulters to recover the Bank dues.”
It further mentions that, “We at SBI are very transparent when putting immovable properties, mortgaged with the Bank / attached by Court order to auction, by furnishing all the relevant details that can make it an attractive proposition for bidders to participate in the auctions. We also incorporate all relevant details and state whether the same is freehold or leasehold, give its measurement, location etc., including other relevant details in the public notices issued for auctioning.”
Requirements for Participating in e-Auction
- Earnest Money Deposit (EMD) for the particular property as mentioned in the e-Auction notice.
- KYC Documents - to be submitted to the concerned Branch.
- Valid Digital Signature - bidders may approach e-auctioneers or any other authorised agency to obtain digital signature.
- Login Id and Password– it will be sent to the email id of the bidders by e-auctioneers after the deposit of EMD and submission of KYC documents to the concerned branch
- Bidders to login and bid during the auction hours on the date of e-Auction as per auction rules.
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