A branch of State Bank of India (SBI) is seen.(Mint)
A branch of State Bank of India (SBI) is seen.(Mint)

SBI to conduct property e-auction tomorrow: Here’s what you need to know

  • As per SBI’s official website, the properties that are included in the auctions are those of defaulters who failed to pay their dues.
By hindustantimes.com | Edited by Mallika Soni
UPDATED ON MAR 04, 2021 08:34 PM IST

Offering an opportunity to people who are seeking to buy a new property at cheaper prices, the country’s leading bank State Bank of India (SBI) is all set to conduct a mega e-auction to sell multiple properties on Friday. In a tweet, the bank said that it will be offering residential, commercial, industrial properties at the e-auction. “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,” SBI said in a tweet.


As per SBI’s official website, the properties that are included in the auctions are those of defaulters who failed to pay their dues. The official statement also mentioned that all information regarding the properties will be given to the bidders so that they can easily participate in the auction.

“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. 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 statement on SBI’s site said.

How to get mortgaged property details?

SBI has given details of such properties put up for e-auctions through the links it has provided in the advertisement. The links are:

1. C1 India Pvt Ltd.: https://www.bankeauctions.com/Sbi

2. E-Procurement Technologies Limited: https://sbi.auctiontiger.net/EPROC/

3. For displaying of the properties: https://ibapi.in

4. For auction platform: https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp


What are the requirements for participating in e-auction?

1. Earnest money deposit (EMD) for the particular property as mentioned in the e-auction notice

2. Know your customer or KYC documents

3. Valid digital signature

4. Login ID and password which will be sent to the email id of the bidders by e-auctioneers after the deposit of EMD and KYC documents.

SHARE THIS ARTICLE ON
Topics
sbi
Close
SHARE
Story Saved
OPEN APP