The country’s largest lender, State Bank of India (SBI), will soon conduct a mega e-auction for mortgage properties. The mortgaged properties that will be sold via the e-auction will include both commercial and residential properties. The e-auction will be held on December 30.


This is good news for people who have been looking to buy a house or invest in a new property. During the mega e-auction, individuals will have the opportunity to bid for residential, commercial and industrial properties. (SBI Net banking)

The bidding price will be lower than the actual market value (SBI Net banking)as all the properties belong to people who defaulted on loans taken from SBI. The bank is now trying to get its money back by auctioning these mortgaged properties. (SBI Net banking)

On Twitter, the State Bank of India (SBI) said, “Looking for properties to invest? ! Register for SBI Mega E-Auction.”

Individuals who are interested in buying or bidding for the mortgaged properties can click here to find out all details about the e-auction process. (SBI Net banking)

“Our bank puts up the mortgage properties (like residential properties /commercial properties etc.) of defaulters to recover the bank dues. For this purpose respective branches of SBI publish the advertisement in the leading newspapers (English and Vernacular). The advertisements are also published in social media (like Twitter, Facebook, Instagram etc.),” SBI said on its website. (SBI Net banking)
Upcoming auctions

As per the details on the bank’s website, there are 3,317 residential properties, 935 commercial properties, 513 industrial properties and nine agricultural properties that will be put up for the e-auction.  (SBI Net banking)