In the realm of property acquisition, IBAPI (Indian Banks’ Auctions Mortgaged Properties Information) stands as a beacon for both investors and buyers alike. This platform provides an efficient, transparent, and straightforward method of participating in auctions of bank-foreclosed properties in India. With a plethora of properties up for grabs in the near future, let’s explore what the IBAPI auctions hold in store.
A Sneak Peek into the Near Future
In the upcoming week, IBAPI’s auction calendar is teeming with opportunities. A total of 658 residential, 114 commercial, and 65 industrial properties will be auctioned within the next seven days. A larger array of options awaits in the subsequent days, with 1961 residential, 418 commercial, and 217 industrial properties slated to go under the hammer within the next 30 days.
Current Availability: Diverse Options Across Categories
As of now, IBAPI boasts an impressive array of available properties across different categories. These include 11703 residential, 2234 commercial, and 1157 industrial properties. For those interested in agricultural land, IBAPI currently holds 99 such properties up for auction. These properties span across 33 states, providing a wide geographical range for potential buyers. In addition, these auctions involve 11 participating banks, which adds to the reliability of the auction process.
Get Started: Step-by-Step Guide for Bidders
The IBAPI platform is user-friendly and designed to facilitate ease of navigation for prospective bidders. However, there are certain formalities that a bidder needs to complete in advance. These steps involve:
Step 1: Bidder/Purchaser Registration – Bidders need to register on the e-Auction platform using their mobile number and email-id.
Step 2: KYC Verification – Bidders are required to upload the necessary KYC documents, which will be verified by the e-auction service provider. This process may take up to two working days.
Step 3: Transfer of EMD Amount to Bidder Global EMD Wallet – This step involves the online/offline transfer of funds using NEFT/Transfer, using the challan generated on the e-Auction Platform.
Step 4: Bidding Process and Auction Results – Once the first three steps are completed, registered bidders can participate in online bidding on the e-Auction Platform.
With these steps, one can easily participate in the upcoming auctions and possibly procure a property at a competitive price.
Upcoming and Available Property Snapshot:
|Residential Properties||Commercial Properties||Industrial Properties|
|Auctions Within Next 7 Days||658||114||65|
|Auctions Within Next 30 Days||1961||418||217|
|Properties Currently Available||11703||2234||1157|
|Properties Across States||33|
Link to official website is: https://ibapi.in/#