Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:609921
Bank Name:Canara Bank
Branch Name:ASSET RECOVERY MANAGEMENT BRANCH, COIMBATORE
Reserve Price:₹4,15,30,000
EMD:₹41,53,000
Bid Increment:₹1,00,000
Auction Time:11:30 AM to 12:30 PM
Service Provider:BAANKNET
Important Dates
Submission Date:2025-11-20
Bid Start Date:2025-11-20
Property Description
This is a SARFAESI auction for a land and building property located in Gobichettipalayam, Erode, Tamil Nadu. The asset is categorized as residential and is being auctioned by Canara Bank. The property is associated with the borrower M/s. Sengodappan Rice Mill. Situated in a key area of Erode, this property offers potential for various residential uses or development. Its location in Gobichettipalayam provides access to local amenities and infrastructure.
State:Tamil Nadu
City:Erode
Area:Gobichettipalayam
Asset Category:Residential
Full Address:Sengodappan Rice Mill, Periyannan 1st street, Periyamodachur, Modachur Village In Erode District, Gobichettipalayam, Periyamodachur, Erode
Building/Society:Sengodappan Rice Mill
Size:20230 sq.ft.
Auction Description
Canara Bank is conducting a SARFAESI auction for a land and building property in Gobichettipalayam, Erode, Tamil Nadu. The auction will take place on 20-11-2025, starting at 11:30 AM and concluding at 12:30 PM. The reserve price for this residential asset is ₹4,15,30,000, with an Earnest Money Deposit (EMD) of ₹41,53,000 required to participate. Interested bidders should review all auction terms and conditions provided by Canara Bank.
Borrower Name:M/s. Sengodappan Rice Mill
Auction Type:SARFAESI Auction
Guarantor Names:Mr. M.K.Sengodappan, Mrs. Kavitha, Mrs. Hemalatha
Legal Details
Possession Status:Symbolic
Encumbrance Details:Not Known to Bank
Why This Property
The property offers a decent opportunity given its industrial land and building classification and location. However, the high reserve price and EMD warrant careful consideration. Location and property type provide some promise, so it represents a calculated risk.
Contact Details
Branch:Branch Office : ASSET RECOVERY MANAGEMENT BRANCH, COIMBATORE
Service Provider:BAANKNET
Contact Details:
The Authorised Officer
Contact no:9489043584
