Bank of Baroda Mega e-Auction: From office spaces to apartments - your dream of owning a property of your own can come true on December 8, 2021. Why? The Bank of Baroda (BOB) mega e-auction is scheduled to take place on that day. The interested participants can login to the official website of BOB at bankofbaroda.in for further details.

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In one of its recent tweets, from the official Twitter handle, BOB has informed about the mega e-auction. The tweet said, "From office spaces to apartments, everything in one place at one time! #BankofBaroda presents Mega e-Auction on 8th December 2021. Your dream space is now just one click away. Know more bit.ly/3y6R68U."

 

How to participate?
Now, the BOB customers willing to participate in the e-auction must be wondering how to do so! Well, the Bank of Baroda website suggests the interested customers to visit the eBkray portal of Indian Banks Auctions Mortgaged Properties Information (IBAPI). In order to participate in the e-auction,  an user can directly access the portal without registration/login. The potential bidders can select segmented data bank-wise and as per location (states and districts) across banks. The user can search property details state-wise, district-wise and bank-wise.

What are the properties included under e-auction?
The interested customers must note that the mega e-auction under the SARFAESI Act today will consist of the following properties:

1) Houses

2) Flats

3) Office spaces

4) Land/ plots

5) Industrial properties

What is the IBAPI portal?
It must be noted that the IBAPI portal is an initiative of Indian Banks Association (IBA) under the overarching policy of the Department of Financial Services (DFS), Ministry of Finance to provide a common platform to display details of mortgaged properties to be auctioned online by banks, starting with Public Sector Banks.

What are the benefits?
The key benefits of this e-auction are as follows:

1) Clear title

2) Immediate possession

3) Bank loan on easy terms

If any interested individuals have any queries related to this, they must login to the official website of Bank of Baroda at bat ankofbaroda.in. They can also login to the official website of IBAPI at ibapi.in.