If you want to buy a house and shop cheaply, then you have a good chance. Punjab National Bank, the country's second largest state-run bank, is going to auction cheap residential and commercial properties on 25 February 2021. Information about this has been provided by IBAPI (Indian Banks Auctions Mortgaged Properties Information). It has 6,389 residential, 1,754 commercial and 961 industrial and 19 agricultural properties. These are the properties that have come on the list of defaults.
Explain that the bank gives loan against mortgage of any property. If the owner of the property is unable to repay the loan of the bank, then the bank takes possession of that property. The property is owned by the bank. Now the bank auction the property to recover the money given in the loan. Before the auction, the bank issues a public notice in which all the information including freehold or leasehold, location, measurement is given.
PNB tweeted
Punjab National Bank (PNB) has given this information by tweeting. In PNB, wrote in the tweet that save the date. Mega e-auction came once again. PNB e-auction will be on 25 February 2021. In this auction you can buy residential and commercial property cheaply.
You can get information from here
More information about the property PNB is going to auction can be obtained from ibapi.in. If you want to buy property through e-auction then you can go to the bank and get information about the auction and the property going to be auctioned.
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