image description


You can participate in a bank auction in 3 simple steps:

1. On Narrow down on the property of your choice and proceed to the e-auction website by clicking on the link provided on the page and register.

2. After registration on the e-auction site, submit the relevant documents mentioned and pay the Earnest Money Deposit (EMD) amount to the bank. The payment needs to be made prior to the date of registration for the EMD to participate in the auction.

3. Bid on the property on the date of its auction.

After successfully submitting the required documents and paying the Earnest Money Deposit (EMD) amount, make a note of the auction date provided on the e-auction site. Then, on the given date visit the site and place your bid starting at the Reserve Price. You can raise your bids incrementally based on the specified ‘Bid Increment Value’ as many times as you chose.

No, once you submit a bid you cannot cancel it.

E-auction websites are authorized third party auction websites that manage auctions on a bank’s behalf.

Pan Card, Annexure 3/Declaration Form, Annexure 2/Details of Bidder and Proof of Address are required to be submitted.

Reserve Price is the minimum price assigned by the bank for a given property to be auctioned.

Earnest Money Deposit or EMD is the deposit money required to be paid in advance for participating in bank auctions. The amount is usually 10% of the Reserve Price.

It is the auctioning Bank’s notice containing all relevant auction details.

On , users can search for a property by the city it is located in or by the category - Commercial/Residential/Vehicles or even by the bank auctioning it. Enter your query in the Search Box provided on the home page or if you wish to access a specific auction then, you could do an Advance Search. The Advance Search allows you to search by either selecting a date range or by entering the minimum or maximum price and the Borrower or Company name.

On the listings page you can either subscribe to receive updates via email or click on the push notification to receive instant notifications on any new updates.

Participating in auctions involves a series of steps and procedures. typically conducts auctions for properties and assets that have been seized due to non-payment of loans or other reasons. Here's a detailed guide on how to participate in auctions:

  1. Understand the Types of Auctions: conducts various types of auctions, including property auctions (e.g., foreclosed properties), vehicle auctions, and other asset auctions. It's essential to know the specific type of auction you're interested in.
  2. Visit the bank Website: usually lists the details of upcoming auctions on its official website. Visit the auction website and navigate to the "Auctions" or "E-Auction" section to find information about the ongoing and upcoming auctions. You can find this information in the "Tenders/Auction" or "Announcements" section.
  3. Browse Auction Notices: Look for the auction notices for the specific type of asset you're interested in. These notices provide essential information such as the property/asset details, location, reserve price, auction date, and terms and conditions.
  4. Register as a Bidder: To participate in a auction, you'll need to register as a bidder. Registration requirements may vary, so refer to the specific auction notice for details. You might need to provide identification documents, proof of funds, and a registration fee.
  5. Inspect the Property/Asset: It's crucial to physically inspect the property or asset you intend to bid on. This will help you evaluate its condition and assess whether it meets your requirements. PNB often arranges inspection dates, and you should attend these if available.
  6. Pay the Earnest Money Deposit (EMD): Before participating in the auction, you may be required to pay an Earnest Money Deposit (EMD). This is usually a percentage of the reserve price and serves as a security deposit to ensure that you're a serious bidder.
  7. Participate in the Auction: On the auction day, attend the auction venue or participate in online auctions as per the specific auction notice. Follow the bidding process, and if you are the highest bidder and the bid exceeds the reserve price, you will be provisionally declared as the winning bidder.
  8. Payment of the Sale Price: After winning the bid, you'll need to pay the sale price, which typically includes the bid amount, additional fees, and taxes. Make sure you understand the payment terms and deadlines outlined in the auction notice.
  9. Documentation and Possession: Complete all necessary documentation as required by auction. This may include the sale deed, transfer of ownership, and other legal formalities. Once the documentation is complete, you'll get possession of the property or asset.
  10. Resale or Usage: You can decide to keep the property or asset for personal use or resale it. If you intend to sell it, you'll need to follow the legal procedures for resale.

Keep in mind that the process may vary from one auction to another, and it's essential to thoroughly read and understand the specific auction notice and terms and conditions for each auction. Additionally, consult with legal and financial experts if you have any doubts or concerns about the auction process.

E-Auction for Properties: Required KYC Documentation for Individual Registration

In order to register as an individual participant for the E-Auction of properties, you will need to provide the following KYC documents:

  1. PAN Card or Form 16
  2. Address Proof (Acceptable address proof documents include Voter Identity Card, Driving License, Job Card issued by MNREGA (properly signed by a state government officer), and a Letter issued by the National Population Register.)

To participate in this auction, you must complete the following formalities well in advance:

  1. Register on the e-Auction Platform using your mobile number and email address.
  2. Upload the necessary KYC documents. These documents will be verified by the e-auction service provider, which may take up to 2 working days.
  3. Transfer funds online or offline using NEFT/Transfer, using the challan generated on the e-Auction Platform.
  4. Once you have completed the above-mentioned steps, registered bidders who are interested can place their bids online on the e-Auction Platform.

Complete Guide to Bank Auction Process

I know that you all know the answer to this Queue that property is auctioned because the borrower defaulted on payment. Normally bank auction process is initiated when a borrower default on 3 consecutive Home Loan EMI’s. A notice is served to the customer to respond within 60 days that why the bank should not initiate a auction of property due to default in payment. Borrower can pay the installments and this notice is withdrawn. Otherwise, the Borrower can submit his objection within 60 days with justification for non-payment of EMI. In case, no reply is received from borrower or bank is not satisfied with the reply then the bank can initiate the bank auction process. Once this notice expires after 60 days, a bank can auction the property after 30 days.

Step 1: Search for Bank Auction Property
This is one of the most painful steps as there is no organized data in India. provides information on Bank Auction Properties. we are providing information minimum of cost. we are updated regularly. The other sources of information are Newspapers, Notice posted in Bank Branch or Notices posted in the Society. For easy search, I suggest that instead of paying for search to get complete details, you can search for Bank Auction Property on our website. Note down basic details including the bank name and then either visit the bank branch or search for auction notice through banks website/newspaper.

Step 2: Check Property Details
Once you shortlist bank auction property, carry out a preliminary check on our own. Check the market price of the property, obviously reason for bank auction is payment default but check out any legal dispute, bank auction-related details and how can you participate in bank auction.
The biggest problem with Bank Auction is that you will not have to get access to property papers before purchase for title search. Banks are not willing to share much information. The sole objective of bank is to dispose off the property. If you are seriously interested in buying the property then it is advisable to hire a lawyer or expert for this process. One important point to check is the Balance outstanding of the defaulter. In many cases balance outstanding is much higher compared to Reserve Price. Please check if the property is auctioned at an amount below the balance outstanding amount then how bank will recover the balance amount. In such scenarios, defaulter has to pay the balance amount but better to clarify. If final bid amount is more than outstanding amount then balance amount is paid to the defaulter by the bank.

Step 3: Physically Inspect the Property
It is advisable to physically inspect the property. Now a days banks have started mentioning the inspection date and time in auction notice. You can visit the site at designated time to inspect the property. In e-auction notice you will find the contact details of concerned officer. It is advisable to contact him and get all the details. Now one good thing is that if bank is organizing physical inspection then it means bank has physical possession of the property. It is always advisable to buy property where bank has physical possession. In case of notional or symbolic possession, winner of bank auction process will struggle to get the possession. After auction bank will be totally non-cooperative. In some cases, it may take years to get physical possession or you may need to file a court case to get physical possession.

Step 4: Submit Bid Form
In this step, you can collect Tender Form and you should deposit EMD (Earnest Money Deposit) along with Tender form. EMD is normally deposited through Banker’s Cheque or Demand Draft. Please check all details in tender form and submit your tender before the Tender Closing Date. Along with Tender form, bank also demand KYC documents. As the time is very short therefore you should arrange all documents well in advance. One of the most common reason for rejection of tender form is incomplete tender form i.e. either KYC documents are not available or Tender form is not filled properly.

Step 5: Online Bidding
There are multiple ways of submitting your bid. You can submit your bid through bidding form. In most of the cases Tender form and Bid form are one and same thing. In short, you can submit bid through tender form. You have to submit separate Tender form / bid form if you wish to submit multiple bids in “multiple of increase in bid amount”. In some cases, Tender form is submitted physically and bid is submitted online through separate Bid form. Competitive bidding is allowed by bank in certain cases among the bidders to increase the final bid amount. In e-auction, you can bid multiple times during the window of e-auction. There is no standard bidding process except for e-auction. It is at the sole discretion of the bank.

Step 6: Auction Date
On auction date, visit the site/bank / auction venue to check whether you won the bank auction or not. If bids are submitted through tender form/bid form then bank will open all the eligible bids in front of all bidders. The highest bidder is declared the winner of bank auction. If you win auction then you need to deposit 25% of the bid amount within 24 hours including EMD deposited with tender form. Balance 75% of bid amount should be deposited within 15 to 30 days from the date of bank auction. If you are planning to avail Home Loan then it is advisable to apply for Home Loan from the bank which has auctioned the property. Normally home loan is risky proportion and most of bank auctions are closed without Home Loan. Banks are not willing to lend on foreclosed properties. I will not suggest to depend on Home Loan for such properties because of tight timelines.

Step 7: Sale Certificate
After the balance 75% payment is made. You will receive a Sale Certificate from Bank but the title transfer is incomplete till you register sale certificate in the sub-registrar office

Step 8: Register Sale Certificate in Sub-Registrar office
You can register Sale Certificate and should insist on inclusion of the defaulter as confirming party as I explained in my previous post on Bank Auctions. The sale certificate should be signed by the authorized bank executive at the time of property registration.