SBI is doing an e-auction of properties. Date and other details here

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Are you planning to buy a home at a very lower price from the existing market rates, you have a chance now as the State Bank of India (SBI) is all set to conduct an electronic auction (e-auction) for the mortgage properties on 5 March. The properties offered by the SBI e-auction will include all kinds of properties like housing, residential, commercial, industrial, etc. “Bid for the best! Here’s your chance to buy cheaper Residential & Commercial Properties, Land, Plant & Machinery, Vehicles and many more. Attend SBI Mega E-Auction and place your best bid,” SBI said in a tweet.

“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 lender mentioned on its website.

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Requirements for participating in SBI mega e-auction:

1) EMD for the particular property as mentioned in the e-auction notice.

2) KYC documents need to be submitted to the concerned SBI branch.

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3) Valid digital signature: Bidders may approach e-auctioneers or any other authorised agency to obtain a digital signature.

4) Once the bidder submits 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.

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