For all those looking to buy a new property, the country’s second largest state-run bank – Punjab National Bank (PNB) has come up with a “mega e-auction” to provide potential buyers an opportunity to buy. Property at a price below the market value. PNB is conducting online auction today (June 24). In this mega e-auction you can get house, shop and land for farming at low rates. It has invited all the bidders to participate in the auction.
The bank is auctioning 13,014 residential properties. In addition, 2,796 commercial properties, 1,373 industrial properties, 104 agricultural properties are up for sale and are being auctioned by the bank.
PNB shared the details of the auction in a tweet. It asked the bidders to visit the e-sale portal (https://ibapi.in) to know more about the auction.
In order to participate in the e-auction, the bidders must fulfill the following conditions.
The bidder has to register on the e-auction platform of PNB using his mobile number and email id.
Bidders will have to upload the required KYC documents. The verification of KYC documents will be done by the e-auction service provider. This may take at least two working days.
After this you have to transfer the amount using the challan generated on the e-auction platform. You can use NEFT for online payment or off-line transfer.
Interested registered bidders can bid online on the e-auction platform after fulfilling the above three conditions
Banks confiscate properties and lands of persons who fail to repay their loans taken from the bank. These properties are auctioned on a regular basis to recover the dues.
In the public notice issued for auction, the bank gives information including freehold or leasehold, location, measurement of the property. If you want to buy a property through e-auction, you can visit the bank to get any kind of information about the process and related property.
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