State Bank of India to hold mega e-auction of properties on December 30

11 State Bank of India1India’s largest lender, State Bank of India, is giving property buyers an opportunity to bid on their dream property. SBI will be conducting an electronic auction for the mortgage properties — both the commercial and residential properties — on December 30.

Under SBI mega e-auction, buyers have a chance to bid and win some home, plot, or shop at a lower price than the existing market rate. In its statement, the bank said: “Bank puts up the mortgage properties (like Residential properties / Commercial properties, etc.) of defaulters to recover the Bank dues.”

As per the e-auction of properties mortgaged to banks website, there are currently 3317 residential, 935 commercial, 513 industrial and 9 agricultural properties to be auctioned.

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