It was quite difficult to search for Banks Property Auction online by login each Bank’s website. This was very time consuming and was also not a consumer-friendly.
To make things easy for searching and doing Bank Property auction online, Indian Banks Association (IBA) under the general strategy of the Department of Financial Services (DFS), Ministry of Finance to give a typical stage in the name of Indian Banks Auctions Mortgaged Properties Information (IBAPI) to provide a common platform to display details of mortgaged properties to be auctioned online by Banks in India. At the initial stage, property auction by the Public Sector Banks could be found in the portal of https://ibapi.in.
Indian Banks Auctions Mortgaged Properties Information (IBAPI)
IBAPI is the website developed by the Allahabad Bank which is accepted by IBA for common to all PSU Banks in India for property auction online. Imminent purchasers may utilize this online portal to look and view subtleties of properties and take an interest in the sale procedure online.
In the IBAPI website, one can find all upcoming auctions within the next 7 days and auctions within next 30 days events over India.
Auction Properties are categories in Residential Properties Auction, Commercial Properties Auction, Industries Properties Auction, Agriculture Properties Auction etc. Currently, 21 Indian Banks are participating in this IBAPI site for online Properties Auctions.