The process
How recovery auctions work
When a loan is not repaid, the lending institution recovers it by auctioning the property pledged as collateral — openly, at a published minimum price, following a fixed legal process. Here is that process, end to end.
- 1
The institution publishes an auction notice
When a borrower defaults, the collateral property is appraised by a licensed valuer and an auction notice is published in national newspapers and on this portal. The notice states the minimum bid, the bid-security amount, the submission deadline, and the date, time, and venue of the bid opening.
- 2
You inspect the property and documents
Every listing on this portal carries the property's key details, photographs, and loan reference. We strongly advise visiting the property in person and reviewing the ownership documents (lalpurja), blueprints, and tax clearances at the institution's recovery department before deciding to bid. Properties are sold on an “as is, where is” basis.
- 3
You deposit the bid security
Deposit 10% of the amount you intend to quote into the institution's designated account, using the account details stated in the notice. Keep the deposit voucher — it must be enclosed with your bid. Unsuccessful bidders are refunded in full after the bid opening.
- 4
You submit a sealed bid before the deadline
Complete the institution's bid form, enclose your deposit voucher, a copy of your citizenship certificate (or company registration and board resolution for firms), and your PAN certificate. Seal the envelope and deliver it to the office stated in the notice before the deadline. Late bids are not accepted.
- 5
Bids are opened publicly
At the stated date and venue, bids are opened in the presence of the bidders who choose to attend. The highest bid at or above the minimum is provisionally accepted, subject to the institution's approval.
- 6
The winning bidder completes payment
The successful bidder must deposit the remaining amount within 35 days of acceptance. Once payment completes, the institution executes the transfer deed and the property is registered in the buyer's name. Registration fees and applicable taxes are borne as per prevailing law.
Common questions
Can I bid online through this portal?+
Not yet. This portal publishes notices and property details; bids are submitted in sealed form at the institution as required by the notice. Online sealed bidding is planned for a future release.
What happens if the auction fails?+
If no valid bid meets the minimum, the institution may re-auction the property in a subsequent round, often with a revised minimum bid. Each round appears as a fresh notice on this portal.
Is the minimum bid negotiable?+
No. The minimum bid is fixed by the institution based on the appraised value and outstanding dues, and is stated in the published notice.
When is my bid security refunded?+
Unsuccessful bidders are refunded after the bid opening, typically within 7 working days, to the account named in the bid form.
Can the borrower settle before the auction?+
Yes. If the borrower clears the outstanding dues before the bid opening, the institution may withdraw the auction. Withdrawn notices are marked as cancelled on this portal.
Ready to look at what's on offer?
New notices are published regularly. Open auctions show a live countdown to their submission deadline.
Browse current auctions