Banks Auction 8000+ Commercial, Residential Properties; PNB’s Mega Real Estate Auction Already Started

Punjab National Bank has announced now that it is going to auction different kinds of property and it’s going to be an e-auction. Various types of property would be available at great prices in the auction if you’re looking to buy any.

Read on to find out all the details about the mega e-auction by PNB, right here!

Mega E-Auction To Be Conducted By PNB; How To Participate?

PNB has tweeted about the e-auction and it states that there will be different types of properties put up at great prices for auction. 

As per the tweet, “You won’t want to miss this!?

Grab the opportunity before it slips away. Get reasonable prices of residential and commercial property through PNB e-Auction being held on 15th March 2021.

To know more, visit e-Bikray Portal: https://ibapi.in”

The auction started on 15 March, which means it has already begun, and advertisements have already been given in different newspapers informing everyone about the same. The properties that will be offered on the e-auction by PNB include all types of properties, which include  housing, residential, commercial, industrial.

The entire process will be conducted digitally.

If you want to participate in the PNB e-auction, you will need to first register with your mobile number and the email address as well. You will also be required to upload your documents for KYC. once you are verified, an online challan will also be filled. And once this process is completed, you will be able to bid online for the property that you wish to buy.

Commercial, Industrial, Agricultural Property To Be Auctioned By PNB

As we all know, the properties whose loans havent been repaid will now be placed on auction by the banks. These properties are then put up for auction by the (Indian Banks Auctions Mortgaged Properties Information) portal from time to time.

As per the IBAPI portal, 6,449 residential properties, 1734 commercial properties, 932 industrial properties, 18 agricultural properties, 30 properties over state are available.

In December, the State Bank of India (SBI) had also announced that they will be conducting an electronic auction of residential, commercial properties. The properties that were to be auctioned contain housing, residential, commercial, industrial, etc. These properties belong to bank loan defaulters who haven’t repaid their loans to the leading lendor of the country.