Easy way to buy cheap property, government launches new portal Baanknet, know how it will work

Baanknet: If you are looking for cheap property, then the government has given 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 such properties through e-auction which have been seized by banks or other government institutions and they are auctioned cheaply. 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 government banks. Potential buyers and investors can view many different types of properties on this portal.

How to get properties here at cheap rates

Often such properties which have been seized by banks, government institutions due to non-payment of loan or for other reasons, are sold at cheap rates but the general public is not able to get information about it at one go. 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 on this Banknet portal and it has been made very easy for you to go to it and buy a cheap property of your choice.

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 auctioned by banks are usually at low prices.

How will this portal work?

Through Banknet, you will be able to directly participate in the property auctions 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 the range in which you want to buy the property.

After selecting all the mandatory fields, a complete list of properties will appear and there will be detailed information, not just the name or address.

It will have good quality photos, by looking at which you can get a complete assessment of the property.

The property you like will have an Interested button next to it, click on it.

After this, a registration form will appear, fill in all the necessary information in it.

After filling the form, you will need to pay some registration money and after filling it, the schedule of the e-auction of the property will appear.

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 be available on Baanknet

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