Land for auction 700 Chinnamanali Villa, Edappadi, Salem by Indian Overseas Bank

This residential property, offered by Indian Overseas Bank in Edappadi Taluk, Salem, presents an excellent opportunity for prospective homeowners or astute investors. Situated in the tranquil Chinnamanali Village, the offering comprises a 700 sq ft parcel of land complemented by an existing residential building. The property's strategic location within the thriving Salem District, Tamil Nadu, ensures access to essential local amenities and community infrastructure, making it an attractive prospect for sustainable living. Its meticulously defined boundaries, including proximity to "Raja veethi" and "Salavai Pattarai Ayyamperumal house," suggest integration into anN established neighborhood, potentially offering convenience and a strong sense of community. This asset, categorized as residential land and building, is ideally suited for those seeking to acquire an affordable home or embark on a personalized renovation project. Its compact yet functional size makes it a perfect entry-level option for individuals or small families aiming to establish roots in a promising area with growth potential.

The Indian Overseas Bank is conducting a SARFAESI auction for this property, a specialized process designed for transparent and efficient asset recovery. New buyers should note the key financial requirements: a Reserve Price of INR 529,200.00 and an Earnest Money Deposit (EMD) of INR 52,920.00, which is typically 10% of the reserve price and is refundable if the bid is unsuccessful. The e-auction is scheduled to commence on March 20, 2025, at 11:00 AM, concluding on the same day at 03:00 PM. Prospective bidders must submit their applications by March 19, 2025, at 05:00 PM. It is highly recommended to conduct thorough due diligence and contact Mr. Arun Sankar R at 8925952785 for any clarifications regarding the property or auction process. BAANKNET is the service provider facilitating this auction, ensuring a streamlined online bidding experience for all participants.