If you’re looking for affordable property, the government has introduced a new portal called Baanknet, which was launched on Friday.
This portal allows you to participate in e-auctions for properties seized by banks or government institutions.
These properties, which are sold at discounted rates, include commercial spaces, shops, industrial plots, agricultural, and non-agricultural land.
Baanknet serves as a one-stop destination for e-auctioned properties from all public sector banks (PSBs). Buyers and investors can explore a variety of property types through this platform.
How to Find Properties at Low Prices
Properties seized by banks or government institutions, often due to unpaid loans, are typically sold at cheaper rates. However, the general public rarely has access to this information in one place.
Baanknet solves this problem by consolidating over 1.22 lakh properties available for auction in one convenient portal.
Here’s how to use Baanknet:
1) Visit the portal and select your desired city.
2) Choose the type of property, such as residential, commercial, or agricultural.
3) Set your budget range.
4) Browse the detailed property listings, complete with high-quality photos for better assessment.
5) Click the “Interested” button next to a property you like.
6) Fill out the registration form and pay the required registration fee.
7) View the transparent e-auction schedule for the selected property.
Key Features of Baanknet
The Baanknet portal, launched by Financial Services Secretary M. Nagaraju, offers several advanced features to simplify property purchases:
Integrated Payment Gateway: Ensures secure and automated payments.
Management Information System (MIS) Reports: Available at a single click for easy data access.
Dashboard Services: Equipped with KYC tools and callback request options.
Helpdesk and Call Center Support: Dedicated assistance for users.
This platform provides detailed property information, including photos, schedules, and transparent auction details, making it easier for buyers to acquire affordable properties.
