E-Auction

E-Auction in Silvassa refers to the online auctioning of properties, including flats, land, and industrial units, typically initiated by banks under the SARFAESI Act due to loan defaults. These auctions are conducted through digital platforms like eAuctionsIndia and ForeclosureIndia, offering opportunities for buyers to acquire properties at competitive prices.

For instance, Canara Bank has listed properties such as a flat in Silvassa with a reserve price of ₹33,00,000. Interested bidders must register on the respective e-auction portal, submit the Earnest Money Deposit (EMD), and adhere to the specified timelines. It's advisable to thoroughly verify property documents and legal clearances before participating in such auctions.