Easy way to buy cheap property, government launched new portal Banknet, this will be useful

Banknet: If you are looking for cheap property, then the government has provided a new facility for you. The government has launched a special new portal for this on Friday. The name of this portal is Baanknet. This portal will sell through e-auction such properties which have been confiscated by banks or other government institutions and are auctioned at cheap rates. These properties include commercial properties, shops, industrial plots along with agricultural and non-agricultural land.

This portal has been named BAANKNET which has become a one-step destination for e-auctioned properties from all public sector banks. Potential buyers and investors buying property can view many different types of properties on this portal.

How to get properties here cheaply

Often such property which has been seized by banks, government institutions due to non-payment of loans or for other reasons, is sold cheaply but the general public is not able to get information about it at the same time. Now this portal will give you information about all such properties together to give you an opportunity to buy property at cheap rates. 1 lakh 22 thousand properties are available on this Banknet portal and it has been made very easy for you to buy cheap property of your choice by visiting it.

Secretary DFS launched the revamped e-auction portal “Baanknet” today! Chairpersons of DRATs, Presiding Officers of DRTs, MDs & CEOs of PSBs, Deputy CEO, IBA, senior executives of PSB Alliance Ltd. & DFS officers were present in the meeting. (1/4)

Link: https://t.co/GAvTCSi4k0 pic.twitter.com/Ce3kpuZeNF

— DFS (@DFS_India) January 3, 2025

Baanknet i.e. Bank Asset Auction Network was launched on Friday.

Financial Services Secretary M Nagaraju on Friday introduced a new portal for e-auction of property. According to the Finance Ministry, this portal named ‘Banknet’ will collect information about e-auction properties from all PSBs or government banks and present it together. The properties that banks auction are usually at cheap prices.

How will work be done on this portal?

• Through Baanknet, you will be able to directly participate in the property auction of banks and for this go to the portal,
• Select the city where you want to buy the property.
• Select the type of property you want to buy – like commercial, residential, flat, house, shop etc.
• You can also choose in which range you want to buy property.
• After selecting all the mandatory fields, a complete list of the property will appear and it will have detailed information and not just the name or address.
• It will have good quality photos, by seeing which you can take complete stock of the property.
• There will be an ‘Interested’ button next to the property you like, click on it.
• After this a registration form will come, fill all the necessary information in it.
• After filling the form, you will need to pay some registration money and after filling this, the schedule of e-auction of the property will come.
• The schedule of e-auction that will come on this will be completely transparent and you will get all the information in this public domain.

What other facilities will there be on Baanknet?

As advanced features in Baanknet portal, various types of MIS reports will be available on one click along with automatic, integrated payment gateway. Apart from this, apart from dashboard service with KYC instrument, there will also be callback request service for customers. Along with this, you will also get a dedicated helpdesk and call center service on this portal.

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