Flat for auction Nanganallur Chennai 28 lakh Indian Overseas Bank

This is a residential flat located in Alandur, Chennai, Tamil Nadu, being auctioned by Indian Overseas Bank. The property is part of a SARFAESI auction, offering a potential opportunity for buyers. It is situated in a well-known area of Chennai, providing access to local amenities and infrastructure. The flat is categorized as a residential asset, suitable for individuals or families seeking a home in this region. The auction presents a chance to acquire property in a developing urban locality.

Indian Overseas Bank is conducting an online SARFAESI auction for a residential flat in Alandur, Chennai. The auction will commence on December 5, 2025, at 11:00 AM and conclude at 3:00 PM on the same day. The reserve price for this auction is INR 28,00,000, with an Earnest Money Deposit (EMD) of INR 2,80,000 required to participate. This is a significant opportunity for prospective buyers to acquire a property through a bank auction process.

The property is a reasonably sized flat in a well-connected area of Chennai, presenting an opportunity for residence or rental income. The reserve price appears competitive, but potential buyers should thoroughly assess the property condition and market value before bidding. The auction terms are standard, warranting a calculated approach.