Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:614720
Bank Name:Bank of India
Branch Name:Regional office
Reserve Price:₹33,32,000
EMD:₹3,33,200
Bid Increment:₹50,000
Auction Time:11:00 AM to 05:00 PM
Service Provider:BAANKNET
Important Dates
Submission Date:08-12-2025 05:00 PM
Bid Start Date:2025-12-09
Property Description
This is a residential flat located in Tungalam, Visakhapatnam, Andhra Pradesh. The property is being auctioned by the Bank of India under the SARFAESI Act, 2002, due to loan default by the borrower, Mr. Ramanam Suresh. The flat offers a comfortable living space in a developing area of Visakhapatnam.
State:Andhra Pradesh
City:Visakhapatnam
Area:Tungalam
Asset Category:Residential
Full Address:406, Sree DMK Heights, Door No.32-10-32/TF-406, Sree DMK Heights, Tungalam, Visakhapatnam
Building/Society:Sree DMK Heights
Size:1000 sft
Auction Description
The Bank of India is conducting a SARFAESI auction for a residential flat in Tungalam, Visakhapatnam. The auction will be held online on December 9, 2025, starting at 11:00 AM and ending at 5:00 PM. The reserve price for this property is INR 33,32,000, with an Earnest Money Deposit (EMD) of INR 3,33,200 required to participate. Interested bidders should carefully review all auction terms and conditions before submitting their bids.
Borrower Name:Mr. Ramanam Suresh
Auction Type:SARFAESI Auction
Legal Details
Possession Status:Constructive
Encumbrance Details:Not Known to Bank
Why This Property
The flat's location in Tungalam, Visakhapatnam, combined with its size, presents a reasonable investment opportunity. While not a prime investment, the property's reserve price and auction terms make it a calculated opportunity for potential buyers seeking residential property in the area.
Contact Details
Branch:Branch Office : Regional office
Service Provider:BAANKNET
Contact Details:
Authorised Officer
Contact no:9959036347
