PNB Mega e auction: The bank is auctioning the property kept by people as a guarantee to get back their loan amount. Any person can buy property for himself by participating in this e-auction.
If you are planning to buy a house, shop or commercial property these days, then Punjab National Bank has brought a great offer for you. People from all over the country can take advantage of this offer of Punjab National Bank (PNB). Actually, Punjab National Bank is conducting E-Auction (PNB E-Auction).
In this, residential property, commercial property, industrial property, agricultural property and government property are also included. Any person can buy property for himself by participating in this e-auction.
When will be the e-auction?
Punjab National Bank has given the date of e-auction and also told how many properties are to be auctioned. PNB has told that the date for conducting online mega auction for residential property and commercial property across the country is 3 August 2023. Apart from this, the bank will also organize a mega e-auction on 22 August 2023. Punjab National Bank is auctioning the property kept by the people as a guarantee to get back their loan amount.
Don’t miss the mega opportunity to get the property of your choice.
To participate please visit: https://t.co/x5lOHWls9X#Auction #Home #Properties #Digital #Loan pic.twitter.com/8qwdSkjeNq
— Punjab National Bank (@pnbindia) July 31, 2023
How many properties are to be auctioned?
As per the information available on the website of Punjab National Bank, 12,068 residential, 2,301 commercial, 1,200 industrial, 111 agricultural, 34 government and 11 participating properties are available for auction.
Apart from this, 2799 residential, 744 commercial and 249 industrial properties are to be auctioned in the next 30 days. Those are the properties that are in the list of defaults.
Why do banks auction properties?
While giving loan to the people, the bank mortgages their residential or commercial property etc. as a guarantee. If the person taking the loan is unable to repay the money, then the bank recovers its money by selling his property. The concerned branches of the bank publish advertisements about the auction through newspapers, in which information related to the auction is given.
How can I participate in the auction?
Earnest money (EMD) has to be deposited for the property mentioned in the notice if you wish to participate in the e-auction conducted by PNB. Apart from this, KYC documents have to be shown in the concerned branch.
Digital signature is necessary to participate in the e-auction. After depositing the EMD and showing the KYC documents in the concerned bank branch, the login ID and password are sent to the email ID of the bidder in the auction. In this way one can participate in the e-auction.
