SBI Mega E-Auction: Big day tommorow! Over 1000 residential, commercial properties available for sale - All details here

The exclusive SBI Mega E-Auction is set to begin on Wednesday i.e 27th Feb, 2019. The SBI Mega E-Auction will open bids for 1000+ properties. According to State Bank of India, this SBI Mega E-Auction offers eligible bidders a wide range of over a 1000 residential and commercial properties across the country.

Reason behind the SBI Mega E-Auction?

According to SBI, "Our Bank puts up the mortgage properties (like Residential properties / Commercial properties etc.) of defaulters to recover the Bank dues."

"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," adds the information available on SBI website sbi.co.in.

Details of the properties? Whom to contact?

SBI informs, "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."

How to participate in e-Auction? Key requirements:-

Requirements for participating in e-Auction

- EMD (Earnest Money Deposit) 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.

The exclusive SBI Mega E-Auction is coming to you on 27th Feb, 2019 and offers eligible bidders a wide range of over a 1000 residential and commercial properties across the country. For more details, visit https://t.co/ay2Za3BBlt #SBIAuction #RealEstate #Residential #Commercial pic.twitter.com/4FuPbo8wwn

— State Bank of India (@TheOfficialSBI) February 18, 2019