If you want to buy property cheaply then this is your chance. Today the country's second-largest bank Punjab National Bank i.e. PNB has brought this opportunity. It is auctioning 18,305 properties across the country.
PNB has given this information on social media. PNB said that you are getting an opportunity to buy property at an affordable price. You can buy it through e-auction. The property that is being auctioned today consists of 13,598 houses and flats. There are 3,045 shops. There are 1,558 industrial properties. There are 104 agricultural properties. Their price ranges from Rs 10 lakh to Rs 59 crore.
There is a property in the Thane area adjacent to Mumbai, which is worth Rs 59 crores. This is a villa. Banks auction such property when the owner of that property is unable to repay the loan. There are many people who take loans but are unable to repay them due to some reason. The bank then starts the process of auctioning it.
Everyone can buy this auction property of PNB. There is no restriction on this. For this, you have to go to this link https://ibapi.in. You can check the state or district of which you want to buy a property here. However, if you want to view properties of multiple banks at the same time, then it is also possible. You will find many properties. Here the properties and the details of all the banks are given. Here you have to go to the search property. There you have to fill in the name of the bank and select the state, district, etc.
As soon as you click on the ID of the property, you will get complete information about it. For example, in which district is the property in which state. What will be his earnest money, what will be his reserve price. Who owns it, what type of property is it?
You will get every information from the title deed in this. You will also find a photo of the property on it. After seeing everything, you have to go to Contact Me and fill the form. When you enter the details here, you will be contacted. Your details go directly to the bank. This is completely an online auction.
For all this process you have to enter your email id and mobile number. On this, you will have to verify the OTP. Then you have to upload your KYC document. After your KYC verification in two days, if your application is found correct, then you will have to pay the money. This will have to be paid in the form of earnest money.
Actually, suppose I took a property worth Rs 40 lakh. The bank gives a loan of Rs 30 lakh on it. I paid a loan of Rs 3 lakh to the bank in two years. Now if I do not repay the loan, the bank confiscates this property. The bank has given a loan of Rs 30 lakh. But the value of the property is 40 lakhs, whereas out of the bank loan, 3 lakh rupees have also been paid. Now only Rs 27 lakh is left with the bank.
In such a situation, the bank charges a low price to sell it quickly. The bank gives this property for less than the market price. That is, this property of 40 lakhs can be found for 35 lakhs or less. The bank needs only Rs 27 lakh. But he gets more than that and the customer gets it at a lower price.
There are thousands of such properties with banks. The compulsion to sell the bank cheap is because its money is stuck in it. The loan that the bank gives, the deposit it takes from you and from us, gives it as a loan. Suppose you have made a deposit for 3 years, then the bank gives a further loan on the basis of 3 years. Now if the bank loan money does not come, then your deposit may be affected. So the banks wants to withdraw its money by any means possible.
