The country's largest lender, State Bank of India (SBI) is allowing customers to purchase a house at a low cost. If you are planning to purchase property this year then you must consider this offer from the State Bank of India.

SBI has announced a huge property e-auction on March 5, 2021. These properties simply defaulted mortgage assets that the bank is auctioning off to recoup the debt. On its Twitter post, the bank wrote "Bid for the best! Here's your chance to buy cheaper Residential & Commercial Properties, Land, Plant & Machinery, Vehicles and many more. Attend SBI Mega E-Auction and place your best bid."

Defaulters? properties are those properties in which the owner fails to repay the loan amount. The bank seizes the property and auctions it to regain the balance amount not paid by the defaulter.

If you want to know more about the properties to be auctioned, then you can visit the official site  https://ibapi.in/ to get more information about the property. Also, the auction is held in different cities so the bidding can be done according to the location. The reserved price is also mentioned on the website.

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