SBI to hold mega mortgaged properties e-auction on 5th March

E-auction

India’s top lender State Bank of India has announced that it is going to hold a mega property e-auction on 5th March, 2021. The bank will auction mortgaged properties of defaulters in order to recoup the debt.

SBI is offering potential buyers a chance to buy cheaper Residential and Commercial Properties.  Not only the properties but also land, Plant and Machinery, Vehicles and many other options would be offered for the bidding purposes in this SBI mega e-auction.

Recently, the bank had put up advertisements in several newspapers and its social media handles informing about the mega auction and informed that SBI will put up mortgage on land, vehicles, residential and commercial properties.

SBI’s official Twitter handle reads, “Bid for The Best! Here’s your chance to buy cheaper Residential & Commercial Properties, Land, Plant & Machinery, Vehicles and many more. Attend SBI Mega E-Auction and place your best bid.”

The Bank also shared the requirements for the buyers participating in this mega property e-auction:

  • EMD for the property as per the e-Auction notice
  • KYC Documents would be required to be deposited with the concerned Branch
  • Valid Digital Signature – E-auctioneers or any other authorized agency can be approached by the bidders for digital signature
  • Login Id and Password – Bidders will receive it on their email ids by e-auctioneers after depositing of EMD and sharing KYC documents with the concerned bank branch
  • Bidders would be required to login and bid during the auction hours according to the auction rules

The interested buyers can get more details of the properties available for e-auction through the website or by clicking on the advertisements posted on different social media platforms.

They can also approach a concerned person at the bank’s branches for further clarifications about the auction process and the property they are interested in.

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