Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:609420
Bank Name:Indian Overseas Bank
Branch Name:Chennai
Reserve Price:₹1,23,02,500
EMD:₹12,30,250
Bid Increment:₹1,25,000
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
This is a bank auction for a land and building property located in Kodungaiyur, Chennai, Tamil Nadu. The property is categorized as residential and is being auctioned by Indian Overseas Bank under the SARFAESI Act. The borrower is M/s. Universal Papers. This presents an opportunity to acquire a land and building asset in a key Chennai locality.
State:Tamil Nadu
City:Chennai
Area:Kodungaiyur
Asset Category:Residential
Full Address:Door No.1, Teachers Colony, Door No.1, Teachers Colony Main Road, Kodungaiyur, Chennai-600 118, Kodungaiyur, Chennai
Building/Society:Teachers Colony
Size:910 & 1040 sqft
Auction Description
Indian Overseas Bank is conducting an e-auction for a land and building property in Kodungaiyur, Chennai. The auction will take place on December 5, 2025, starting at 11:00 AM and concluding at 03:00 PM. The reserve price is set at ₹1,23,02,500, with an Earnest Money Deposit (EMD) of ₹12,30,250 required to participate. This SARFAESI auction offers a chance to bid on a residential property.
Borrower Name:M/s. Universal Papers
Auction Type:SARFAESI Auction
Guarantor Names:Mr.G. Manishankar, Mr.E.S.Balasubramanian, Mrs.M.Selvi @ M.Thivya Lakhsmi, Mr.M.Kandavel, Mrs.M.Bhavani, Mr.V.Balaraman, Mrs.B.Padmini, Mr.B.Hemachand, Mrs.Sethu Lekshmi, Ms.Pavithra, Mr.Santhosh Sal, Mr.B. Yoganand, Mrs.B.Jeeji Bhavani, Mast. Rahul
Legal Details
Possession Status:Constructive
Encumbrance Details:Not Known to Bank
Why This Property
The property is a land and building in Kodungaiyur, Chennai, offered at a reserve price of ₹12302500.0. While the location is decent, the property type and auction terms suggest a calculated opportunity, requiring careful due diligence before investment.
Contact Details
Branch:Branch Office : Chennai
Service Provider:BAANKNET
Contact Details:
Mr.V R Hemanth Kumar & Mr.Jagadeeshwaran
Contact no:8121533776&7358363464
