SBI real estate mega-auctions across India start today: what you need to know
National Bank of India (SBI) is set to conduct an electronic auction (e-auction) for mortgage properties today, March 5th. The properties offered by the SBI electronic auction will include all kinds of properties such as dwellings, dwellings, residences, businesses, industries, etc. deal, ”SBI said in a tweet.
- SBI set up mortgage assets from defaulting debtors to collect contributions through this electronic auction and published the ad in major newspapers with its social media accounts – Facebook, Twitter, Instagram, etc.
- The bid price will be lower than the actual market value. During the electronic mega auction, individuals will have the opportunity to bid on residential, commercial and industrial properties.
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Requirements to participate in the SBI electronic mega-auction:
- EMD for the particular property as mentioned in the electronic auction notice.
- KYC documents should be submitted to the relevant SBI branch.
- Valid Digital Signature: Bidders may contact online auctioneers or any other authorized body to obtain a digital signature.
- Once the bidder submits the EMD deposit and KYC documents to the relevant branch, their registered login ID and password will be emailed by the online auctioneers.
- Bidders must log in and bid during auction hours on the date of the electronic auction in accordance with the auction rules.
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