Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:608983
Bank Name:Indian Bank
Branch Name:Rajapalayam BRANCH
Reserve Price:₹1,16,03,000
EMD:₹11,61,000
Bid Increment:₹50,000
Auction Time:11 AM to 4.00 PM
Service Provider:BAANKNET
Important Dates
Submission Date:18-11-2025 05:00 PM
Bid Start Date:2025-11-19
Property Description
This auction features industrial land and a building located in Rajapalayam, Virudhunagar, Tamil Nadu. Previously owned by M/s. Bhagiyaeswaran Ginning Factory, this asset category property offers a significant opportunity for industrial development or expansion in a well-established area. The property is being auctioned by Indian Bank under SARFAESI laws.
State:Tamil Nadu
City:Virudhunagar
Area:Rajapalayam
Asset Category:Industrials
Full Address:9, SIDCO Industrial Estate, Shed No.9 (Old 6) having Door No. 1/314 in the SIDCO Industrial Estate, SIDCO Industrial Estate, Rajapalayam
Building/Society:SIDCO Industrial Estate
Size:1056.22 sq.mt
Auction Description
Indian Bank is conducting a SARFAESI auction for industrial land and a building in Rajapalayam, Virudhunagar, Tamil Nadu. The auction will take place on November 19, 2025, with bidding open from 11:00 AM to 04:00 PM. The reserve price is ₹1,16,03,000.00, and the Earnest Money Deposit (EMD) required is ₹11,60,300.00. This is a prime opportunity to acquire an industrial asset.
Borrower Name:M/s. Bhagiyaeswaran Ginning Factory
Auction Type:SARFAESI Auction
Legal Details
Possession Status:Physical
Encumbrance Details:NIL
Why This Property
The property represents a calculated opportunity due to its industrial zoning and location in Rajapalayam. While the location offers potential, the auction terms and property specifics should be carefully evaluated. The reserve price and EMD are significant, requiring thorough due diligence.
Contact Details
Branch:Branch Office : Rajapalayam BRANCH
Service Provider:BAANKNET
Contact Details:
Authorised Officer
Contact no:8291220220
