Industrial Development Bank of India Limited Auction Flats & Houses in India

How a Industrial Development Bank of India Limited auction works

Industrial Development Bank of India Limited publishes each sale notice with the asset description, reserve price, EMD, bid deadline and the e-auction platform where bidding takes place.

The EMD is refundable if you do not win. The notice also states the bid increment and how quickly the balance amount must be paid after the sale is confirmed.

• Register on the e-auction platform named in the notice
• Deposit the EMD before the last date stated
• Inspect the asset during the inspection window
• Keep your ceiling price decided before bidding opens

What to check on flats & houses lots

Residential auction listings are sold on an as-is-where-is basis, so society dues, occupancy and possession type matter as much as the reserve price.

• Carpet or built-up area and floor as stated in the notice
• Society transfer rules, dues and maintenance arrears
• Occupancy status and possession type
• Stamp duty, registration cost and pending property tax