The Punjab National Bank is conducting an electronic auction (e-auction) for mortgaged properties in two phases on August 3 and August 22. The PNB Super Mega e-auction will include residential, commercial and industrial properties.
“Don’t miss the mega opportunity to get the property of your choice. To participate please visit:
https://ibapi.in,” Punjab National Bank tweeted on Thursday.
The second largest public lender will auction 384 commercial properties as well as 102 industrial and 1,109 residential properties within the next seven days starting from August 3.
The second round of
e-auctions will be held on August 22, according to the bank.
Within the next 30 days, the lender will put up 237 industrial, 682 commercial, and 2,736 residential properties for sale, according to the PNB website. Prospective buyers can use the IBAPI portal to get details about the properties.
To register for the PNB
e-auction, individual bidders need to complete their Know Your Customer (KYC) process in advance as the verification of the KYC documents may take up to two working days. After completing the registration, KYC process and transfer of initial payment, individuals can bid on the e-auction platform.
To bid for the property, individuals can click the property details page and navigate to the bank e-auction site.
Documents required for PNB e-auction
The bidders will need to submit PAN or Form 16 along with valid address proof, which can include a voter ID card, job card issued under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) duly signed by an officer of the state government, a letter issued by the National population register or driving licence, among others.
An initiative of the Indian Banks Association (IBA), the Indian Banks Auctions Mortgaged Properties Information (IBAPI) portal provides a common platform to display details of mortgaged properties that are to be
auctioned online by banks, particularly public sector lenders. Prospective bidders can search for properties district-wise, state-wise, and bank-wise.
According to the IBAPI website, 11 banks are participating in the e-auction, which includes Bank of Baroda, Bank of Maharashtra, Bank of India, Canara Bank, Indian Bank, Central Bank of India, Indian Overseas Bank,
State Bank of India, Punjab National Bank, UCO Bank and Union Bank of India.
For any queries related to the PNB e-auction, bidders can visit the IBAPI website or contact any PNB branch.
(Edited by : Sudarsanan Mani)
