The State bank of India will conduct an e-auction of both commercial and residential properties on Dec 30, 2020.
The bank said: "Bank puts up the mortgage properties (like Residential properties / Commercial properties, etc.) of defaulters to recover the Bank dues."
Requirements for participating in SBI mega e-auction:
- EMD for the particular property as mentioned in the e-auction notice.
- KYC Documents - to be submitted to the concerned Branch.
- Valid Digital Signature -Bidders may approach e-auctioneers or any other authorised agency to obtain digital signature.
- 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 the concerned branch
- Bidders to login and bid during the auction hours on the date of e-Auction as per auction rules.
- Within Next 7 Days - 758 (Residential) 251 (Commercial) 98 (Industrial)
- Within Next 30 Days - 3035 (Residential) 844 (Commercial) 410 (Industrial)
How to get property details?
The details of such properties put up for e-auctions may be accessed through the links provided in the advertisement by the bank. "There is designated contact person also for auction at the branches whom prospective buyers may approach to for any clarification regarding the auction process and the property he or she is interested in and may inspect the properties of their interest," the bank mentioned.
As per the e-auction of properties mortgaged to banks website, there are currently 3317 residential, 935 commercial, 513 industrial and 9 agricultural properties to be auctioned.