Bank of Baroda mega e-auction on Feb 17! Chance of owning properties through IBAPI portal: Check participation details; step-by-step guide

BOB Mega e-Auction: Your dream of owning a property will come true now. With Bank of Baroda (BOB) e-auction, one can own apartments to office spaces. The BOB mega e-auction is slated to take place on February 17, 2022. The interested participants can login to the official website of BOB at bankofbaroda.in for further details.

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"Bank of Baroda on 17.02.2022 is bringing you a golden opportunity to buy the property of your choice. Enjoy this mega e-auction with complete transparency, without any brokerage. For more information bit.ly/MegaEAuctionFeb," a recent tweet from the official Twitter handle of BOB said.

17.02.2022 को बैंक ऑफ बड़ौदा ला रहा है आपके लिए एक सुनहरा मौका अपनी पसंद की प्रॉपर्टी खरीदने का। बिना किसी ब्रोकरेज के, पूर्ण पारदर्शिता के साथ इस मेगा ई-ऑक्शन का आनंद लें।
अधिक जानकारी के लिए https://t.co/ebLGl1kQlR#BankofBaroda #AzadiKaAmritMahotsav @AmritMahotsav pic.twitter.com/toBX8Tfez0

— Bank of Baroda (@bankofbaroda) February 14, 2022

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.