SBI e-auction on Feb 27, over 1,000 commercial, residential properties on sale; how to participate
New Delhi: State Bank of India (SBI), India’s largest bank by customers, is coming up with a real estate e-Auction on Wednesday, February 27, 2019, under which the Mumbai-based bank will be offering more than 1,000 commercial and residential properties for sale.
According to State Bank of India (SBI), the residential and commercial properties of the defaulters which have been mortgaged will be up for bidding by the bank to recover the bank dues and with regard to SBI real estate auction, the State Bank of India has published advertisement in newspapers and on social media (Facebook, Twitter, Instagram).
“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,” SBI wrote on its website.
“The exclusive SBI Mega E-Auction is coming to you on 27th Feb, 2019 and offers eligible bidders a wide range of over a 1000 residential and commercial properties across the country,” SBI said in a tweet.
How to participate in SBI real estate e-auction
1.Earnest Money Deposit (EMD) for the particular property as mentioned in the e-Auction notice.
2.Know-Your-Client (KYC) documents have to be submitted to the concerned State Bank of India branch.
3.Valid digital signature: To obtain a digital signature, bidders may approach e-auctioneers or any other authorised agency.
4.Login Id and password will be sent to the email id of the bidders by e-auctioneers after the deposit of EMD and submission of KYC documents to theconcerned State Bank of India branch.
5.Bidders will be required to login and bid during the auction hours on the date of SBI e-auction as per auction rules.
To obtain more information about the State Bank of India (SBI) e-auction, prospective properties, bidding process.
SBI has provided two weblinks
The details of properties put up for e-auctions may be accessed through these links and prospective buyers may approach the designated contact person for auction at the bank branches for any clarification regarding the auction process and may inspect the properties of their interest, SBI said.