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SBI To Undertake Mega E-Auction of 1000+ Properties On 25th October: Here’s How To Apply

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On October 25, 2021, the country's largest lender, State Bank of India (SBI), will hold its massive e-auction for more than 1000 properties. The auction will feature a wide range of open plots, residential, industrial, and commercial properties, as well as a loan option for successful buyers who meet certain eligibility criteria. "Our Bank puts up the mortgage properties (like Residential properties / Commercial properties etc.) of defaulters to recover the Bank dues. For this purpose respective Branches of SBI publishes the advertisement in the leading newspapers (English and Vernacular). The advertisements are also published on Social Media (like Twitter, Facebook, Instagram etc.). This advertisement contains the details of websites where the prospective bidders can access the particulars of locations of the properties with full details. It also guides the prospective bidders on the pre-requirements for participating in e-auction," SBI has mentioned on its website.

 
SBI To Conduct Mega E-Auction of 1000+ Properties On 25th October: Check Details

The country's largest lender has directly stated on its website that "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 details of such properties put up for e-auctions may be accessed through the links provided in the advertisement. There is a designated contact person also for auction at the Branches whom prospective Buyers may approach for any clarification regarding the auction process and the property he /she is interested in and may inspect the properties of their interest."

The following are the prerequisites for participating in SBI's e-Auction.

  • Earnest deposit of money (EMD) for the particular property as mentioned in the e-Auction notice.
  • KYC Documents should be submitted to the concerned bank branch.
  • Valid Digital Signature - Bidders need to get a digital signature from e-auctioneers or any other authorised agency.
  • Upon the deposit of EMD and submission of KYC documents to the concerned SBI branch, e-auctioneers will send or forward login ID and password to the bidders' email address.
  • Bidders must log in and bid during the auction hours on the e-Auction day, as specified in the auction regulations.
 

For additional information on properties and bidding, bidders can visit:

  • C1 INDIA Pvt. Limited: https://www.bankeauctions.com/Sbi
  • e-Procurement Technologies Limited: https://sbi.auctiontiger.net/EPROC/
  • For displaying of the properties: https://ibapi.in
  • For auction platform: https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp

On the other hand, on October 22, 2021, Bank of Baroda (BoB) will hold its Mega E-Auction for houses, flats, office spaces, land/plots, and industrial properties. "Here's your chance to buy a property you like! #BankofBaroda presents Mega e-Auction on 22nd October 2021, where you can get a property of your choice with ease," the lender has said via its Twitter handle. For more information bidders can visit https://www.bankofbaroda.in/e-auction/e-auction-notices and can visit eBkray portal of Indian Banks Auctions Mortgaged Properties Information (IBAPI) to apply.

Story first published: Tuesday, October 19, 2021, 10:28 [IST]
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