Want to buy property? SBI auction is here; check the complete details

Are you looking to buy property at low prices to suit your budget? What about a deal where you can get a home or commercial property at a very low price? Don’t believe this? Well, it is very much possible as SBI e-auction of property is here.

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India’s largest lender – State Bank of India (SBI) is giving an opportunity to own a property at lower rates than the market prices through its mega e-auction on October 25, 2021.

The state-run bank has come out with this offer as it will be selling properties of those who have taken the loan from the bank but have failed to repay their loans.

Bid from your home! Join us during the e-auction and place your best bid.

Know more: https://t.co/vqhLcagoFF #Auction #EAuction #Properties #SBI_MegaEAuction pic.twitter.com/gMyyPtKPlU

— State Bank of India (@TheOfficialSBI) October 16, 2021

“Bid from your home! Join us during the e-auction and place your best bid,” said the bank in a tweet. To know more about the auction process and property details, one can check on this link – https://bank.sbi/web/sbi-in-the-news/auction-notices/bank-e-auctions

Before participating in the auctioning process, one can check the complete information regarding the property, its location, size and other things on the website. To facilitate the smooth auctioning process, the bank appoints one person to provide complete information regarding the property to prospective bidders.

According to the bank, the e-auction will be conducted in a transparent manner following all the required guidelines.

“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,” said the bank on its website.

Requirements for participating in e-auction

EMD (Earnest Money Deposit) for the particular property as mentioned in the e-Auction notice.

KYC Documents - to be submitted to the concerned Branch.

Valid Digital Signature -Bidders may approach e-auctioneers or any other authorised agency to obtain digital signature.

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

Bidders to login and bid during the auction hours on the date of e-Auction as per auction rules.