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Plagued by non-performing assets, banks are busy putting properties up for sale. State Bank of India alone has auctioned Rs 700 crore worth of properties this month. Samantak Das, chief economist and head of research and REIS, JLL India, says, “The offer price of such properties is linked to the loan outstanding. Usually, you may get the properties to get transacted at 10-25 per cent discount-to-market value.”
Sathya Kalyanasundaram, country head and managing director, Experian India, says, “Foreclosure is when an individual prepays his or her loan before the agreed loan tenure. However, if an individual is not able to
