PNB mega e-Auction: Residential, commercial and Industrial properties on offer—Check how you can take part in bidding process

For people who want to buy affordable residential and commercial properties, Punjab National Bank (PNB) has a big update for you. PNB is holding a mega e-auction for residential and commercial properties.

The information regarding the same was shared by the bank over its official Twitter account. “Not all 2021 goals have to wait. Participate in PNB’s Mega e-Auction to get reasonable prices for residential and commercial property,” the bank tweeted.

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The bank further informed that it is holding online mega e-auction of residential and commercial properties in a transparent manner under SARFAESI Act. The e-auction will begin from Tuesday, June 15. 

The details about the residential, commercial and industrial properties that are being e-auctioned have been provided by the Indian Banks Association (IBA) on its Indian Banks Auctions Mortgaged Properties Information (IBAPI) portal.

Not all 2021 goals have to wait.

Participate in PNB's Mega e-Auction to get reasonable prices for residential and commercial property.

To know more, visit e-Bikray Portal: https://t.co/N1l10rJGGS pic.twitter.com/9P9bgnEz5e

— Punjab National Bank (@pnbindia) June 14, 2021

As per the information, within the next 30 days, 1014 residential, 381 commercial, and 173 industrial properties will be auctioned.

Guidelines for e-auction platform:

People who want to bid in the auction will have to complete the following formalities in advance:

1. Bidder/Purchaser Registration: Bidder to register on e-Auction Platform using his mobile number and email-id.

2. KYC Verification: Bidder to upload requisite KYC documents. KYC documents shall be verified by the e-auction service provider (may take 2 working days).

3. 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.

4. Bidding Process and Auction Results: Interested Registered bidders can bid online on the e-Auction Platform after completing step 1,2 and 3.