Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:611197
Bank Name:Indian Bank
Branch Name:TIRUMANGALAM BRANCH
Reserve Price:₹59,30,000
EMD:₹5,93,000
Bid Increment:₹10,000
Auction Time:11.00 am to 5.00 pm
Service Provider:BAANKNET
Important Dates
Submission Date:18-11-2025 05:00 PM
Bid Start Date:2025-11-19
Property Description
This is a SARFAESI auction for a Land and Building property located in Tirumangalam, Madurai, Tamil Nadu. Formerly belonging to Mr. M Loganathan, this residential asset presents a unique opportunity for prospective buyers. The property is being auctioned by Indian Bank.
State:Tamil Nadu
City:Madurai
Area:Tirumangalam
Asset Category:Residential
Full Address:R.S.No224/7 A, Sivarakottai Village Panchayat, Tirumangalam Taluk, Sivarakottai, Madurai
Size:2950.00 Sq.Ft
Auction Description
Indian Bank is conducting a SARFAESI auction for a Land and Building property in Tirumangalam, Madurai. The auction will take place on November 19, 2025, starting at 11:00 AM and concluding at 05:00 PM. The reserve price for this residential property is INR 59,30,000, with an Earnest Money Deposit (EMD) of INR 5,93,000 required to participate.
Borrower Name:Mr. M Loganathan
Auction Type:SARFAESI Auction
Guarantor Names:Mrs. L Rajeswari
Legal Details
Possession Status:Symbolic
Encumbrance Details:Nil
Why This Property
The property in Tirumangalam offers a decent investment opportunity due to its residential building combined with land. The reserve price is moderate, and the location in Madurai district adds to its appeal. However, prospective buyers should thoroughly investigate the property's condition and local market dynamics before bidding.
Contact Details
Branch:Branch Office : TIRUMANGALAM BRANCH
Service Provider:BAANKNET
Contact Details:
Contact no:8291220220
