Property Type:
Location:
Auction Date:Auction Details
Recommendation:Strong BuyScore: 7.8
Auction ID:609416
Bank Name:Indian Overseas Bank
Branch Name:Chennai
Reserve Price:₹1,24,45,000
EMD:₹12,44,500
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 prime Land and Building asset located in the bustling city of Chennai, Tamil Nadu. As a Residential property, it offers significant potential for homeowners or developers. The property is being auctioned by Indian Overseas Bank under the SARFAESI Act. Its strategic location in Chennai provides excellent connectivity and access to urban amenities, making it a valuable acquisition opportunity.
State:Tamil Nadu
City:Chennai
Area:chennai
Asset Category:Residential
Full Address:Very Old No 45, Old No 79/1 and New No 32, New Street, Mylapore, Mylapore, Chennai
Size:1235 sq.ft
Auction Description
Indian Overseas Bank presents a SARFAESI auction for a Land and Building property in Chennai, Tamil Nadu. The auction is scheduled for December 5, 2025, commencing at 11:00 AM and concluding at 03:00 PM on the same day. The reserve price for this residential asset is ₹1,24,45,000, with an Earnest Money Deposit (EMD) of ₹12,44,500 required. This is a unique chance to acquire a property in a sought-after location, directly from the bank.
Borrower Name:M/s. Universal Papers
Auction Type:SARFAESI Auction
Guarantor Names:Mr.G. Manishankar, Mr.E.S.Balasubramanian, Mrs.M.Selvi, Mr.M.Kandavel, Mrs.M.Bhavani, Mr.V.Balaraman, Mr.B.Yoganand, Mrs.B.Jeeji Bhavani
Legal Details
Possession Status:Constructive
Encumbrance Details:Not Known to Bank
Why This Property
Located in Mylapore, a prime area of Chennai, this land and building offers significant investment potential. While the reserve price is relatively high, the location's desirability and the property's existing structure make it a strong contender. Potential investors should consider the property's value within the context of Mylapore's real estate market.
Contact Details
Branch:Branch Office : Chennai
Service Provider:BAANKNET
Contact Details:
Mr.V R Hemanth Kumar & Mr.Jagadeeshwaran
Contact no:8121533776
