Flat for auction 59 Ram Nagar, Velachery, Chennai by LIC Housing Finance

This exceptional ground floor flat, spanning a generous 2000 Sq.Ft. of built-up area, presents a unique opportunity for discerning buyers in Chennai's highly coveted Velachery locality. Strategically situated in Ram Nagar North extension, Vijaya Nagar, this property benefits from an impressive 1800 Sq.Ft. undivided share of land, out of a total 3600 Sq.Ft. plot (Plot No.59, 1st Main Road). Velachery is renowned for its excellent connectivity, robust social infrastructure, and proximity to major IT corridors, educational institutions, premier healthcare facilities, and vibrant commercial hubs, making it an incredibly desirable residential destination. The significant undivided land share associated with this flat not only enhances its intrinsic value but also offers a sense of spaciousness and long-term appreciation potential rarely found in urban properties. This well-located asset promises a blend of comfort, convenience, and substantial future value, ideal for families seeking a prime address within a thriving community.

Prospective buyers are invited to participate in the SARFAESI auction for this prime Velachery property, conducted by LIC Housing Finance Ltd. The reserve price for this asset is set at INR 2,66,00,000, with an Earnest Money Deposit (EMD) requirement of INR 26,60,000. It is crucial for new bidders to understand that the EMD is mandatory to qualify for bidding and will be forfeited if the highest bidder fails to complete the purchase. The auction is scheduled to commence on July 23, 2025, at 11:00 AM, concluding at 01:00 PM on the same day. All interested parties must submit their applications by July 22, 2025, 05:00 PM. This e-auction is facilitated by Auctionbazaar, ensuring a transparent and secure bidding environment. For detailed information and to address any queries, prospective bidders are advised to contact Mr. V.P. Balaji or Mr. S. Nagarajan at 9445948890/9791899777. Thorough due diligence, including property inspection and legal verification, is strongly recommended prior to participating.