Want to buy property? SBI auction is here; get your dream house at a discount

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

The largest state lender in the country – State Bank of India (SBI) is giving an opportunity to own a property at lower rates. But this opportunity is available only up to 30 December 2020. All those who are interested in this offer are required to participate in the auction process. 

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Why SBI is coming out with this offer?  

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.  

Under this auction, the people will have an opportunity to have a go at residential, commercial and industrial properties. The bank is in possession of those properties whose owners have been unable to pay the loans. The bank is auctioning these properties under the e-auctioning process.  

The bank is doing this to recover its stuck money with the people who have failed to pay their loans. The bank has given this information through a tweet on its official twitter handle 

Under this e-action scheme, you can register to be part of the auctioning process till 30 December. The properties can be purchased at all parts of the country. The SBI undertakes this auctioning from time-to-time. The Bank claims to do this auctioning in a transparent manner. 

All details related to the auctioning process and with respect to properties is given on a prior basis.   

Before participating in the auctioning process, you can take complete information regarding the property, its location, size and other things. Moreover, the bank appoints one person to take give information with regards to this. 

As per the information revealed by the SBI bank, there will be 758 residential properties, 251 commercial properties 98 industrial properties that will be auctioned over the next 6 days.  

Meanwhile, SBI will auction 3032 residential properties, 844 commercial properties and 410 industrial properties in the next 30 days. 

If you want to the part of process, you will be required to get yourself registered on its official website. You will have to get registered via your email and mobile number.  

The applicants will be required complete their Know Your Customer (KYC) formalities.