SBI Mega E-Auction: Residential, commercial properties up for grabs - How to bid and other important details

Are you searching for some good residential or commercial properties? If the answer is yes, here is some good news for you from India's largest lender, the State Bank of India (SBI).

Here is all you need to know about SBI Mega E-Auction for residential, commercial properties:- Photo from SBI Twitter.

Are you searching for some good residential or commercial properties? If the answer is yes, here is some good news for you from India's largest lender, the State Bank of India (SBI). The SBI Mega E-Auction will be held on 26th February 2020. With SBI Mega E-Auction, you can get a chance to bid and win some of the best listed properties.

SBI through its official Twitter account @TheOfficialSBI said, "The SBI Mega E-Auction will be held on 26th February 2020. Get a chance to bid and win some of the best listed properties. Register here: https://bank.sbi/web/sbi-in-the-news/auction-notices/mega-e-auction."

Here is all you need to know about SBI Mega E-Auction for residential, commercial properties:-

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SBI says, "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 in Social Media (like Twitter, Facebook, Instagram etc.)."

"This advertisement contains the details of web sites 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."

"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 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 /she is interested in and may inspect the properties of their interest."

Requirements for participating in 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.

For more information on properties and bidding , please visit SBI's Partners :

-C1 INDIA Pvt. Ltd. : 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

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