Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:609411
Bank Name:Indian Overseas Bank
Branch Name:Chennai
Reserve Price:₹56,05,000
EMD:₹5,60,500
Bid Increment:₹50,000
Auction Time:11:00 a.m. and 3:00 p.m
Service Provider:BAANKNET
Important Dates
Submission Date:2025-12-05
Bid Start Date:2025-12-05
Property Description
Discover a fantastic residential opportunity in the heart of Nanganallur, Chennai, Tamil Nadu. This flat, owned by Mr. M. Kannan, is being auctioned by Indian Overseas Bank under the SARFAESI Act. Located in a well-established area, this property offers potential for comfortable urban living. Nanganallur is known for its good connectivity and essential amenities, making it a sought-after locality. Don't miss the chance to acquire this asset in a prime Chennai location.
State:Tamil Nadu
City:Chennai
Area:Nanganallur
Asset Category:Residential
Full Address:F1, SVM Peony, Flat No.F1, First Floor, "SVM Peony", Old Door No.34A/New Door No.44, Kamarajar Street, Bhakthavatchalam Nagar, Nanganallur, Chennai-600 114, Nanganallur, Chennai
Building/Society:SVM Peony
Size:1170 sq ft
Auction Description
Indian Overseas Bank presents a SARFAESI auction for a residential flat in Nanganallur, 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 property is ₹56,05,000, with an Earnest Money Deposit (EMD) of ₹5,60,500 required to participate. This is a unique chance to bid on a property in a desirable Chennai neighborhood. Interested parties are encouraged to review all auction terms and conditions before participating.
Borrower Name:Mr.M.Kannan
Auction Type:SARFAESI Auction
Legal Details
Possession Status:Constructive
Encumbrance Details:Not Known to Bank
Why This Property
The property offers a reasonable opportunity given its location in Nanganallur and size. The reserve price appears competitive, but potential buyers should assess the condition and surrounding area. It's a calculated opportunity rather than a prime investment due to standard auction terms and location considerations.
Contact Details
Branch:Branch Office : Chennai
Service Provider:BAANKNET
Contact Details:
Mr.V R Hemanth Kumar
Contact no:8121533776
