MANDATORY DISCLAIMER
This platform acts solely as an auction publication and facilitation service provider. All auction information is published based on data received from the respective bank/NBFC. The platform does not verify title, possession, or encumbrances, and shall not be responsible for any disputes arising before or after the auction.
What is the purpose of this website?
This website acts as a centralized platform for publishing and managing property auction notices issued by banks and NBFCs.
Who conducts the auction?
The auction is conducted by the concerned bank or NBFC.
This platform only facilitates publication and bidder participation based on data received from the lender.
Are the properties owned by this website?
No. All properties belong to banks or NBFCs as secured assets and are auctioned under applicable laws.
How is auction information uploaded on the website?
Auction details are uploaded exactly as provided by the respective bank/NBFC, including:
- Property description
- Reserve price
- EMD amount
- Auction date & time
- Terms & conditions
Can I trust the accuracy of auction details?
While details are received from authorized lenders, bidders must independently verify:
- Title and ownership
- Encumbrances
- Physical possession
- Local authority approvals
On what basis are auction properties sold?
All properties are sold on “As is where is, as is what is, and whatever there is basis.”, Hence bidders are advised to carry legal check / title check before proceeding futher.
Can I inspect the property before bidding?
Inspection is permitted only if allowed by the bank/NBFC and as per the inspection schedule mentioned in the auction notice.
How do I participate in the auction?
To participate:
- Register on the platform
- Submit required KYC documents
- Pay Earnest Money Deposit (EMD)
- Place bids during the auction window
Is EMD refundable?
Yes.
- Unsuccessful bidders: EMD is refunded as per bank timelines
- Successful bidder: EMD is adjusted against the sale consideration
What happens if I win the auction?
The successful bidder must:
- Pay the balance amount within the time specified by the bank
- Comply with auction terms
- Complete documentation for issuance of Sale Certificate
Who pays stamp duty and registration charges?
All statutory charges including stamp duty, registration fees, and taxes are to be borne by the successful bidder.
Can auction be cancelled or postponed?
Yes. The concerned bank/NBFC reserves the right to:
- Cancel
- Postpone
- Modify auction terms
without prior notice.
Can borrowers stop the auction?
The borrower may stop the auction by:
- Clearing entire dues, or
- Obtaining legal relief from competent authority
subject to bank approval.
Is this platform responsible for possession or eviction?
No. This platform does not handle possession or eviction. Such actions are solely managed by the bank as per law.
FAQs FOR BANKS & NBFCs
What services does the platform provide to banks/NBFCs?
We provide:
- Digital publication of auction notices
- Centralized auction listings
- Bidder registration & participation support
- Auction day technical facilitation
- Bid reports and bidder data sharing
Does the platform verify property or legal documents?
No. All auction-related data is published strictly as received from the bank/NBFC.
Legal verification remains the sole responsibility of the lender.
Can banks update or modify auction details?
Yes. Banks/NBFCs may:
- Update property details
- Revise reserve price
- Change auction dates
subject to applicable rules and timelines.
Is bidder KYC mandatory?
Yes. Bidder KYC is collected and shared with the bank/NBFC for compliance and record purposes.
How is bidder data handled?
Bidder data is:
- Collected securely
- Used only for auction-related purposes
- Shared exclusively with the concerned bank/NBFC
Does the platform collect or hold auction proceeds?
No. EMD and sale consideration are deposited directly into the bank/NBFC-designated account.
Does the platform guarantee successful sale?
No. Auction outcome depends on:
- Market response
- Property location and condition
- Reserve price
No sale guarantee is provided.
Can the platform be branded for the bank/NBFC?
Yes. White-label or co-branded auction pages can be provided subject to agreement.
Is the platform compliant with SARFAESI and RBI norms?
The platform operates as a service facilitator. Compliance with SARFAESI, RBI, and statutory requirements remains with the bank/NBFC.
Who handles post-auction documentation?
Post-auction documentation, sale confirmation, and certificate issuance are handled directly by the bank/NBFC.
Whom should banks contact for support?
Banks/NBFCs may contact the designated relationship manager / support desk for:
- Listing uploads
- Auction execution support
- Technical issues
MANDATORY DISCLAIMER (Highly Recommended)
This platform acts solely as an auction publication and facilitation service provider. All auction information is published based on data received from the respective bank/NBFC. The platform does not verify title, possession, or encumbrances, and shall not be responsible for any disputes arising before or after the auction.