Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:611627
Bank Name:Indian Overseas Bank
Branch Name:REGIONAL OFFICE : Kancheepuram
Reserve Price:₹58,91,000
EMD:₹5,89,100
Bid Increment:₹75,000
Auction Time:11:00 am to 4.00 pm
Service Provider:BAANKNET
Important Dates
Submission Date:2025-11-19
Bid Start Date:2025-11-20
Property Description
This SARFAESI auction presents a unique opportunity to acquire a Land and Building property in the historic Mamallapuram, Chengalpattu, Tamil Nadu. The property is being auctioned by Indian Overseas Bank. Located in a prominent area, this asset offers significant potential for residential use or development. The borrower is Mr. T. Panchatcharam.
State:Tamil Nadu
City:Chengalpattu
Area:Mamallapuram
Asset Category:Residential
Full Address:53, Door No.53, Navidhar street, Thirukuluam street, Mamallapuram-603104, Mamallapuram, Chengalpattu
Size:0.50 cents
Auction Description
Indian Overseas Bank is conducting an e-auction under SARFAESI Act for a Land and Building property in Mamallapuram, Chengalpattu, Tamil Nadu. The auction will take place on November 20, 2025, from 11:00 AM to 04:00 PM. The reserve price is set at ₹58,91,000, with an Earnest Money Deposit (EMD) of ₹5,89,100. This is a direct sale from the bank and an excellent chance for interested parties to acquire a valuable asset.
Borrower Name:Mr. T. Panchatcharam
Auction Type:SARFAESI Auction
Legal Details
Encumbrance Details:Not Known to Bank
Why This Property
The property is a land and building in Mamallapuram, a potentially valuable location. The reserve price seems reasonable, but further investigation is needed. The recommendation is a calculated opportunity due to location and auction terms, requiring diligent evaluation.
Contact Details
Branch:Branch Office : REGIONAL OFFICE : Kancheepuram
Service Provider:BAANKNET
Contact Details:
Sundara Rajesh
Contact no:8925950050
