Better chance to buy expensive house, shop and land cheaply
State Bank of India, the country’s largest public sector bank, is offering an opportunity to buy expensive properties cheaply. SBI will conduct an electronic auction for mortgaged properties – both commercial and residential properties – on October 25. Under SBI Mega E-Auction, you have a chance to bid and win some house, plot or shop at a price below the current market rate. SBI has given this information by tweeting.
SBI wrote on its official social media platform, Your next big investment opportunity is here. Join us during the e-auction and place your best bid. The lenders auction the mortgaged properties of the defaulters to recover the dues.
Your next big investment opportunity is here! Join us during the e-auction and place your best bid.
Know more: https://t.co/vqhLcagoFF #Auction #EAuction #Properties #SBIMegaEAuction pic.twitter.com/e24yoxgh1C
— State Bank of India (@TheOfficialSBI) October 13, 2021
SBI said, we are very transparent while attaching the immovable properties mortgaged with the bank to the court order for auction. By furnishing all the relevant details we can make it an attractive proposition for the bidders to participate in the auction.
We also include all the details and state whether it is freehold or leasehold. The public notice issued for the auction also states its measurement, location etc. along with other details.
The details of such properties put up for e-auction can be obtained through the link given in the advertisement. The person nominated for auction at the branch can also contact. They can be contacted by potential buyers for any clarifications regarding the auction process and the property they are interested in and to inspect the properties of their interest.
Take part in Mega e-Auction like this
EMD has to be submitted for the respective property given in the e-Auction notice. The ‘KYC documents’ have to be shown at the concerned bank branch. The person participating in the auction must have a digital signature. If not, the e-auctioneer or any other authorized agency can be contacted for this.
The e-auctioneer will send the login ID and password to the bidder’s email id after depositing the EMD at the concerned bank branch and showing the KYC documents. As per rules of auction, bidding can be done by logging in on time on the day of e-auction.
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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.