Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:609979
Bank Name:Punjab National Bank
Branch Name:ASSET RECOVERY MANAGEMENT BRANCH
Reserve Price:₹5,26,50,000
EMD:₹52,65,000
Bid Increment:₹1,00,000
Auction Time:10:00 am to 4:00 pm
Service Provider:BAANKNET
Important Dates
Submission Date:21-11-2025 10:00 AM
Bid Start Date:2025-11-21
Property Description
This auction features a land and building asset in Virudhunagar, Tamil Nadu, previously owned by M/s Sri Ramani Spinners Private Limited. Classified under the Residential asset category, this property presents a unique opportunity within the Virudhunagar area. The auction is being conducted by Punjab National Bank under the SARFAESI Act.
State:Tamil Nadu
City:Virudhunagar
Area:Virudhunagar
Asset Category:Residential
Full Address:150, 155 & 156/3, Railway Feeder Road, T.S.No.21 Part, Virudhunagar, Virudhunagar
Size:7224 Sq.feet
Auction Description
Punjab National Bank is holding a SARFAESI auction for a land and building property in Virudhunagar, Tamil Nadu. The bidding will commence on November 21, 2025, at 10:00 AM and conclude at 4:00 PM on the same day. The reserve price is set at ₹5,26,50,000, with an Earnest Money Deposit (EMD) of ₹52,65,000 required to participate.
Borrower Name:M/s Sri Ramani Spinners Private Limted
Auction Type:SARFAESI Auction
Guarantor Names:Mr.N.Ramadoss, Mr.N.Rama Subramanian, Mr.M.N.R.Ramprasanna, Mr.M.N.R.Ramasangu
Legal Details
Possession Status:Symbolic
Encumbrance Details:Nil
Why This Property
The property is an industrial land and building in Virudhunagar with a symbolic possession status. While the location is good, the high reserve price and symbolic possession represent a calculated opportunity. Further due diligence is recommended before investing.
Contact Details
Branch:Branch Office : ASSET RECOVERY MANAGEMENT BRANCH
Service Provider:BAANKNET
Contact Details:
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