Punjab National Bank (PNB) is providing various facilities to millions of customers across the country.
If you’re looking to buy an affordable home of your own, PNB has an exciting opportunity for you.
The bank is conducting a massive e-auction featuring more than 11,000 properties, and you can place your bids today, on September 1st.
PNB’s official tweet reads: “Bid for your dream home with Punjab National Bank’s Mega E-Auction!”
Number of Properties Up for Auction
In this auction by Punjab National Bank, you can bid on 11,790 residential properties.
Additionally, there are 2,197 commercial properties, 1,143 industrial properties, and 105 agricultural lands available for bidding.
Why Banks Hold Auctions?
It’s important to note that many individuals obtain loans from the bank to purchase property, but sometimes they face difficulties repaying the loan.
In such cases, the bank takes possession of the property or land.
These properties are periodically auctioned by the bank, allowing them to recover the outstanding loan amounts.
Auction Under SARFAESI Act
PNB ensures complete transparency in this auction, which is conducted under the SARFAESI Act.
The properties included in this auction are those mortgaged with the bank, whose owners, due to certain reasons, are unable to repay their loans.
Now is your chance to bid on a property that suits your needs and financial capabilities, thanks to Punjab National Bank’s Mega E-Auction.
Don’t miss out on this opportunity to secure your dream home.
