The country's top lender State Bank of India on December 29 has notified a mega property e-auction to be conducted tomorrow i.e. December 30. The e-auction will put up mortgage on residential and commercial properties.
The bank aims to auction mortgaged properties of defaulters in order to recover the dues of the bank. The bank has put up advertisements in leading newspapers and on the bank's social media handles.
On its Twitter post, the bank wrote, "Planning to buy a new property? We've got good news for you. Register for SBI Mega E-Auction."
Planning to buy a new property? We've got good news for you. Register for SBI Mega E-Auction: https://t.co/ndlGZhPyk6#SBI #StateBankOfIndia #Auction #Properties pic.twitter.com/Lqkp6sjrXM
— State Bank of India (@TheOfficialSBI) December 29, 2020
"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," the bank said in a statement.
"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," it added.
Here are the requirements for participating in the e-auction