Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.5
Auction ID:609421
Bank Name:Indian Overseas Bank
Branch Name:Chennai
Reserve Price:₹98,80,000
EMD:₹9,88,000
Bid Increment:₹1,00,000
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 SARFAESI auction for a valuable Land and Building asset located in Pallipattu, Chennai, Tamil Nadu. Owned by M/s. Universal Papers, this residential property presents a unique investment opportunity. The auction is being conducted by Indian Overseas Bank.
State:Tamil Nadu
City:Chennai
Area:Pallipattu
Asset Category:Residential
Full Address:7A, Door No 7A, Pallipattu Narasimhachari Street [P N Chari Street], Pallipattu, Chennai
Size:3120 sqft
Auction Description
Indian Overseas Bank is holding a SARFAESI auction for a Land and Building property in Pallipattu, Chennai. The bidding starts at a reserve price of 98,80,000.0, with an Earnest Money Deposit (EMD) of 9,88,000.0 required to participate. The auction will take place on December 5, 2025, from 11:00 AM to 03:00 PM.
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, Mr.B.Hemachand, Mrs.B.Jeeji Bhavani
Legal Details
Possession Status:Constructive
Encumbrance Details:Not Known to Bank
Why This Property
The property is a land and building in Pallipattu, Chennai, offered at a reasonable reserve price. While the location is not prime, the size and potential for development make it a calculated opportunity. Prospective buyers should conduct thorough due diligence.
Contact Details
Branch:Branch Office : Chennai
Service Provider:BAANKNET
Contact Details:
Mr.V R Hemanth Kumar
Contact no:8121533776
