Registration Process for Bidders to Participate in PUDA E-Auctions

1: Go to PUDA E-Auction Portal First step is to visit the official PUDA E-Auction portal.

• Start by Creating an Account - Registering your account will require some basic details, like your personal information and an email address.
• Upload/Submit Documents: Registering involves uploading relevant identity docs, like PAN and Aadhar cards for verification and compliance.

2: Account Enablement

• Customer Support Activation : an account will need to be activated following registration. Call PUDA customer care on-delivery of your User ID for immediate activation.
• Account Enablement Email: The other option is to receive email notification for Account Enablement (which means you should receive an email within a few days post registration) This email double confirms that the account is active and should go on and used.
• Requirement of Digital Signature Certificate (DSC)
• Bidder shall have the (DSC) Digital Signature Certificate (DSC) in its name (With Encryption) for secure participation in PUDA auctions which is a pre-requisite document for DSC Procurement of elements. One can acquire this DSC from certified CAs or any authorized vendors.

3: DSC Installation and Setup:

• Step 1: Insert the USB key in which DSC is placed on the computer’s USB.
• Linking DSC to Profile Step 1 — Click on how to capture DSC details on the PUDA Portal.
• Last Verification: Full verification in order to be able to access bidding functionality.

All PUDA E-Auction 2024 News PUDA and six regional development authorities begins large scale e-auction for properties in Punjab including cities of Mohali, Ludhiana, Jalandhar, Amritsar and Patiala- Oct 15, 2023. Over 20,000 residential, commercial and institutional properties are included and they are expected to raise substantial revenue for Cubes to develop the urban area. These auctions are likely to net PUDA more than ₹2,000 crore which is expected to be used by the authority to fund housing and infrastructure projects throughout the state. Such a streamlined process, along with the digital push by PUDA in recent times, is expected to enrich the bidding pool and bring convenience to those in real estate.

1: What Sort of Properties Are Auctioned

• Residential: Land, flat and home.
• COMMERICAL: Shops, office spaces, commercial land.
• Commercial: Schools, hospitals.
• Industrial – Lands for Industrial Building.

2: Who Can Participate in PUDA E-Auction

• Key Requirements For Indians And NRIs.
• Age and identity requirements.
• Specific requirements for special property types.

3: Registration Process

• Register on PUDA E-Auction portal.
• Documents for registration (Identity proof, PAN card etc).
• Information about the registration fee (if applicable) and payment methods.

4: How to Apply/Secure an Invitation to Bid

• Steps on PUDA’s site for detailed bidding
• Minimum bids and exhausted times for active bidding.
• EMD payment and submission guideline.
• Key deadlines and timelines of phases of the auction.

5: Documentation Requirements

• Required paperwork (KYC, financial documents, business proof…)
• Steps for uploading documents in the portal.
• Crosschecking of documents submitted.

6: Details on EMD (Earnest Money Deposit)

• How EMD is calculated and how we will use it.
• EMD: Refundable & Non-Refundable Terms.
• Modes of PAN E-Mandate (Online Transfer, Bank Draft).

How long does it take for bid unsuccessful to be refunded processed

7: Auction Rules and Terms

• Sector-specific terms and conditions for lease.
• Bidding increments, duration extensions, and proxy bidding.
• Finalization of Winners and Settlements Timelines Eligibility.

8: Payment Structure

• Payment Plans (Full Payment or in Installments).
• Timelines to settle the balance (in the event a buyer gets a successful auction).
• A charge or fee for late payments.
• Payment plans available (bank loans, PUDA financing).

9: Process and method of finalization of allotment

• From winning bid to final allotment: What steps to take.
• Legal documents (deed of sale, agreements to lease, etc.).
• Steps for allotment confirmation involving approval and verification.

10: Essential Rules and Legal Matters

• PUDA e-auctions, complete with legalities.
• Property Transfer, Resale and Legal Compliance Guidelines.
• And tax consequences — GST and otherwise.

11: Withdrawal Cancellation, and Refund Policy

• When the bidders can back out of the bid.
• Chargeable elements and cancelation policy.
• PUDA Cancellations: Refund Policy Bidder cancellations: Refund Policy.