SBI Online: State Bank of India Mega E-auction offers listed properties at affordable price

SBI Online: The State Bank of India (SBI) has put up the mortgage properties (like Residential properties or Commercial properties etc.) of defaulters to recover the bank dues. For this purpose, respective SBI branches have published the advertisement for Mega E-auction of the registered properties at unbelievable rates which is quite affordable for the potential homebuyers. This advertisement contains the details of web sites where the prospective bidders can access the particulars of locations of the properties with full details. It also guides the prospective bidders on the pre-requirements for participating in the e-auction.

SBI informed about the Mega E-auction of residential and commercial properties from its official twitter handle citing, "Register for the SBI Mega E-Auction and get listed residential and commercial properties at unbelievable rates. The exclusive mega e-auction will be held on 26th February 2020."

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According to weblink given by SBI — bank.sbi/web/sbi-in-the-news/auction-notices/mega-e-auction — the largest Indian commercial bank is very transparent when putting immovable properties, mortgaged with the Bank or 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 details of such properties put up for e-auctions can be accessed through the links provided in the advertisement or at bank.sbi/web/sbi-in-the-news/auction-notices/mega-e-auction. There is designated contact person also for auction at the Branches whom prospective Buyers may approach to for any clarification regarding the auction process and the property he /she is interested in and may inspect the properties of their interest.

See SBI tweet below:

Register for the SBI Mega E-Auction and get listed residential and commercial properties at unbelievable rates. The exclusive mega e-auction will be held on 26th February 2020. Register here: https://t.co/n9tHSXi1zy#SBI #SBIMegaEAuction #BeABidder #ForeclosedProperties pic.twitter.com/U0PoYeUCDK

— State Bank of India (@TheOfficialSBI) February 14, 2020

To participate in the bid one needs to register themselves in the SBI Mega E-auction by logging in at the link — bank.sbi/web/sbi-in-the-news/auction-notices/mega-e-auction. 

Requirements for participating in SBI Mega E-Auction:

1] EMD for the particular property as mentioned in the e-Auction notice.
2] KYC Documents - to be submitted to the concerned Branch.
3] Valid Digital Signature -Bidders may approach e-auctioneers or any other authorised agency to obtain a digital signature.
4] Login Id and Password– Will be sent to the email id of the bidders by e-auctioneers after the deposit of EMD and submission of KYC documents to the concerned branch
5] Bidders to login and bid during the auction hours on the date of e-Auction as per auction rules.

For SBI Mega E-auction details, interested and eligible bidders can visit at the SBI Mega E-auction partners website which is as follows:

1] C1 INDIA Pvt. Ltd: bankeauctions.com/Sbi;
2] e-Procurement Technologies Limited: sbi.auctiontiger.net/EPROC/;
3] For displaying the properties: ibapi.in; and
4] For auction platform: mstcecommerce.com/auctionhome/ibapi/index.jsp