If you are also planning to buy a cheap house or a cheap property, then you have a good chance. Actually Punjab National Bank is going to auction the property. It includes both residential, commercial and industrial properties. Please tell that information has been provided by IBAPI (Indian Banks Auctions Mortgaged Properties Information). These are the properties that have come on the list of defaults.
PNB gave information by tweeting
PNB has given information about this by tweeting on its official Twitter handle. The bank wrote in a tweet that the residential and commercial property to be held on May 15, 2021 will be auctioned. You can buy property here at a reasonable price.
How many properties?
According to the given information, there are 10,883 residential properties. Apart from this, there are 2447 commercial properties, 1218 industrial properties, 71 agricultural properties. All these properties will be auctioned by the bank.
Click this link for more information.
For more information about the property auction, you can visit this link https://ibapi.in/.
According to the bank, he also gives information about the freehold or leasehold of the property, location, measurement and other information in the public notice issued for the auction. If you want to buy property through e-auction, then you can go to the bank and get any information about the process and related property.
The bank conducts auctions from time to time.
Let us know that the owners of the property have not paid their loan. They give the land of all those to the banks. Such properties are auctioned from time to time by banks. In this auction, the bank sells the property to recover its outstanding balance.