Land for auction 2A Madheswaran's, Goundanur, Namakkal by Indian Overseas Bank

This is an exceptional opportunity for prospective homeowners or astute investors to acquire a valuable piece of residential land in the serene and developing Goundanur Padaiveedu area of Namakkal, Tamil Nadu. Offered through a transparent bank auction by Indian Overseas Bank, this property, precisely identified as Survey No. 31/2A (New S.No. 492/17), encompasses a total area of 857 sq.ft. Its strategic positioning is a significant advantage, benefiting from direct access on both its eastern and western sides via a North-South road, enhancing connectivity and future development potential. The land features clearly defined boundaries, flanked by Madheswaran's settlement property to the North and Mathu's Land to the South, ensuring ease of identification and clear demarcation. This parcel's inherent potential is considerable, making it an ideal canvas for constructing a personalized residence or a sound long-term investment, poised for appreciation within a tranquil yet accessible locality.

Prospective bidders for this land parcel should note the critical details concerning this SARFAESI bank auction conducted by Indian Overseas Bank. The e-auction is scheduled for March 20, 2025, commencing precisely at 11:00 AM and concluding at 03:00 PM on the same day, offering a focused bidding window. A competitive Reserve Price of Rs. 3,29,400.00 has been established, requiring an Earnest Money Deposit (EMD) of Rs. 32,940.00 to participate, which signifies 10% of the reserve value. All applications for participation, including EMD submission, must be completed by 05:00 PM on March 19, 2025. This auction is facilitated by BAANKNET, ensuring a secure and transparent online bidding environment. Interested parties are strongly encouraged to conduct thorough due diligence, including physical inspection of the property and verification of all associated documents, well in advance of the application deadline. For further inquiries or assistance regarding the auction process, please contact the provided number: 8925950796.