Those who are eying to buy a property at a lower price than the existing standard market rate, State Bank of India (SBI) is set to organise an online auction (e-auction) for the mortgage properties on December 30. Also Read: EXPLAINED | Bitcoin More Than Tripled In 2020 To Breach $23K – Should You Invest?
What kind of properties will be auctioned?
You can track properties in the SBI e-auction which will include all kinds of properties from housing, residential, commercial, industrial, etc. These properties belong to those bank loan defaulters who failed to repay SBI loans and SBI is trying to get its money back by selling those properties in this mega e-auction.
The country’s top lender shared the information about the auction through a tweet saying, “Looking for properties to invest? ! Register for SBI Mega E-Auction.”
“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,” the bank mentioned.
What are properties in upcoming auctions?
Within Next 7 Days – 758 (Residential) 251 (Commercial) 98 (Industrial)
Within Next 30 Days – 3035 (Residential) 844 (Commercial) 410 (Industrial)
Check the following formalities before the auction:
Bidder/Purchaser Registration: Those interested in bidding have to register on e-Auction Platform using his mobile number and email-id.
KYC Verification: Bidder to upload requisite KYC documents. KYC documents shall be verified by e-auction service provider (may take 2 working days).
Transfer of EMD amount to Bidder Global EMD Wallet : Online/off-line transfer of fund using NEFT/Transfer, using challan generated on e-Auction Platform.
Bidding Process and Auction Results: Registered bidders can bid online on e-Auction Platform after completing the above steps
What are other requirements for bidding in SBI mega e-auction:
1) EMD for the particular property as mentioned in the e-auction notice.
2) KYC documents needs to be submitted to the concerned SBI branch.
3) Valid digital signature: Bidders may approach e-auctioneers or any other authorised agency to obtain digital signature.
4) Once the bidder submit the EMD deposit and KYC documents to the concerned branch, their registered login ID and password will be sent via email id by e-auctioneers.
5) Bidders need to login and bid during the auction hours on the date of e-auction as per auction rules.
As per the e-auction of properties mortgaged to banks website, there are currently 3317 residential , 935 commercial, 513 industrial and 9 agricultural properties to be auctioned.
Where can you check details of the mega e-auction and registration:
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