Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:610448
Bank Name:Indian Bank
Branch Name:Madurai
Reserve Price:₹62,56,000
EMD:₹6,25,600
Bid Increment:₹20,000
Auction Time:11:00 am to 5:00 pm
Service Provider:BAANKNET
Important Dates
Submission Date:19-11-2025 05:00 PM
Bid Start Date:2025-11-19
Property Description
This offering is for a residential land and building located in the well-established area of Tallakulam, Madurai, Tamil Nadu. The property is being auctioned by Indian Bank under the SARFAESI Act. It presents a unique opportunity for buyers seeking a property in a prime location within Madurai city. Ideal for residential purposes, this asset offers potential for development or immediate occupation, depending on its current condition and zoning regulations.
State:Tamil Nadu
City:Madurai
Area:Tallakulam
Asset Category:Residential
Full Address:2, Central Excise Colony, Iyer Bungalow, Plot No 2, D No 2/133, Central Excise Colony, Iyer Bungalow, Behind Bellance Mart, New Natham road, Madurai 625014, Tallakulam, Madurai
Building/Society:Central Excise Colony, Iyer Bungalow
Size:1744 sqft
Auction Description
Indian Bank is conducting a SARFAESI auction for a residential land and building in Tallakulam, Madurai, Tamil Nadu. The auction will commence on November 19, 2025, at 11:00 AM and conclude at 5:00 PM on the same day. The reserve price for this property is ₹62,56,000, with an Earnest Money Deposit (EMD) of ₹6,25,600 required to participate. This is a formal auction process conducted by the bank to recover dues from the borrower, Mrs. P Latha.
Borrower Name:Mrs. P Latha
Auction Type:SARFAESI Auction
Guarantor Names:Mrs Palaniammal, Mr. P Kathiravan, Mr. P Sathiyaprakash
Legal Details
Encumbrance Details:Nil
Why This Property
The property offers a decent opportunity with its location in Madurai and residential nature. The reserve price seems reasonable. However, potential investors should thoroughly investigate the property and auction terms before bidding.
Contact Details
Branch:Branch Office : Madurai
Service Provider:BAANKNET
Contact Details:
Contact no:8291220220
