SBI to carry out the largest e-auction on 26 February: more than 1,000 properties will be listed.

India’s largest public sector bank, State Bank of India (SBI) on Saturday has declared that it is going to conduct mega e-auction that will consists more than 1,000 commercials, residential and industrial properties across the country.

“We at SBI are very clear when putting immovable properties, mortgaged with the Bank/attached by court order to auction, by providing all the relevant details that may render it an enticing proposal for bidders to engage in the auction. We also integrate all relevant details and state whether the same is freehold or leasehold, offer its size, location, etc., along with this other relevant details in the public notices that have been issued for auctioning,” SBI said.

“The information of such e-auction properties can be obtained via the links provided in the advertising. There is also a dedicated contact person for auction in the divisions to whom prospective buyers can reach for any guidance about the auction process and the property they are involved in and can view the properties of their interest,” indicates the information available on SBI website sbi.co.in.

You will need to apply by February 26, 2020, to participate in the auction under SBI’s mega e-auction scheme. This auction offers a wide range of properties from all parts of our country to the buyer.

After being registered on the website of Banks Eauctions or IBAPI or AuctionTiger, bidders may make an online bid for the property.

While participating in the bid process the bidder should consider these important points which are as follows:

• 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 authorized agency to obtain a 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.