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SBI is giving a chance to buy property, know the process of applying, all the work will be done online

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You can buy property from SBI (Indicative picture)

The country’s largest state-run bank State Bank of India (SBI) offers its customers a bumper offer to invest and earn on it. SBI says that customers can invest in its property, bid for it and earn good profits. Customers can get the desired property cheaply. State Bank of India starts the process of e-auction i.e. online bidding for this. By participating in this, customers can easily name the property.

How to get information from SBI

According to SBI, the bank mortgages the properties of the defaulting creditors to clear its dues. These properties can be residential houses or commercial properties. SBI gives information about these properties to the customers from time to time by giving advertisements in the reputed newspapers of the country. Advertisements related to this are also issued in social media like Twitter, Facebook and Instagram. Customers can know about the property through these advertisements and can make up their mind to purchase.

These ads also tell which property is for sale in which area, which a customer can take. In the advertisements, complete details of the website are given from where the bidders can get the details of the property. The advertisement also tells you what conditions are required to be followed before bidding online. If a customer does not fit into those terms, he/she will not be allowed to bid online. Therefore, customers should know about the terms and conditions before participating in the bidding.

What type of property can I buy

SBI says that immovable properties are issued for bidding with great care and in a transparent manner. These immovable properties are those which are mortgaged with the State Bank or are attached through the court. These properties are put up for bidding. Along with this, all the information about the property is also given. Based on this information and the quality of the property, bidders can participate in the purchase process. Before bidding, it is also told whether the property is free hold or lease hold. Information about how many meters or yards the property is, what is its location, all these things are given. SBI issues a public notice with all these information and invites the customers to participate in the online bidding.

A link to the website is issued for this by the bank. Phone numbers are also issued by the bank from where you can get complete information about the bid and the property. The bank employs a special employee on its behalf, who informs the callers or the people visiting the bank branch about the bidding and purchase. From this person, customers can get information about the complete bidding process and property.

How to participate in E-Biding

  1. The bid notice mentions what will be the EMD i.e. ‘Earnest Money Deposit’ for a property. This EMD can be known as earnest money.
  2. KYC will have to be submitted in the branch from where the bid has been received or the branch whose property is there.
  3. It will be necessary to give a digital signature. Bidders can request a digital signature from the bidding agency.
  4. The bidding customer gets login id and password for online bidding. Both these items are issued by the bidding agency. The login ID and password will be available only after the customer submits the earnest money and KYC papers.
  5. The customer is allowed to login only during the start of the bidding. This work is done on the day of bidding.

Information will be found on this link

  1. For more details visit C1 India Pvt. Ltd’s website https://www.bankeauctions.com/Sbi
  2. E-Procurement Technologies Limited : https://sbi.auctiontiger.net/EPROC/
  3. To view the display of the property, visit: https://ibapi.in
  4. To bid click on https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp

Read also: Gold Rate today: Gold becomes expensive, silver price also increased; Know where the prices have reached

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