On Tuesday, November 29, the Punjab National Bank (PNB) will launch the e-auction of properties, during which buyers can anticipate purchasing commercial and residential property at excellent prices.
According to a tweet from the bank, Punjab National Bank will conduct the auction of various types of property.According to their tweet, the PNB e-auction is offering both residential and commercial properties.
“Mega E Auctions provide enormous opportunities! Prepare to submit bids for residential and commercial properties on https://ibapi.in,” read a tweet from PNB.
How do I participate in the online property auction at PNB Mega?
The PNB e-sell off bid will be submitted totally on the web, as the name suggests. Before you can make a bid in this online auction, you must first register using your email address and mobile phone number. You will then be required to upload KYC documentation. You won’t be able to make an online bid until the online challan has been filled out and checked.
Properties that are in default or whose loans cannot be serviced are typically put up for auction by banks. Through the Indian Banks Auctions Mortgaged Properties Information (IBAPI) portal, these properties are occasionally put up for auction by banks.
“The Indian Banks Association (IBA) launched the Indian Banks Auctions Mortgaged Properties Information (IBAPI) portal as part of the overall policy of the Department of Financial Services (DFS) and Ministry of Finance to provide a common platform for Banks, beginning with Public Sector Banks, to display details of mortgaged properties that will be auctioned online.””The Ibapi website states that prospective buyers can use this portal to search, view property details, and participate in the auction process.”
According to the information on the IBAPI portal, the state is home to 13083 residential properties, 2544 commercial properties, 1339 industrial properties, 98 agricultural properties, and 34 properties. Twelve banks held an auction for the properties.
