Land for auction 8 Alagapuram Pudur Villa, Suramangalam, Salem by Canara

This offering presents a valuable parcel of land and building situated in the vibrant Suramangalam area of Salem, Tamil Nadu. Spanning approximately 0.12 acres (5,227 sq. ft.), this property boasts clear boundaries, bordered to the East by land belonging to Patani Gounder, to the West by Iteri, to the North by land of Seeranga Gounder, and to the South by land of Sadaya Gounder. The site includes an existing building and benefits from established rights of way and easementary rights, enhancing its utility and accessibility. Its location within Salem District, specifically Alagapuram Pudur Village, positions it advantageously within a developing region with potential for appreciation. This 'Residential' asset category property is ideal for buyers looking to invest in a tangible asset with scope for development, renovation, or commercial utilization, depending on local zoning and approval. The clear linear measurements and documented boundaries provide a solid foundation for any future plans.

This is a significant opportunity to acquire a strategically located property through a SARFAESI auction conducted by Canara Bank. The auction is scheduled for March 5, 2025, with bidding open between 11:30 AM and 12:30 PM. To participate, prospective buyers must submit their applications by March 3, 2025, 5:00 PM. The reserve price for this asset is ₹17,100,000, with an Earnest Money Deposit (EMD) of ₹1,710,000 required to secure your bid. This process, managed by BAANKNET, is designed to be transparent and efficient, offering a direct route to property ownership. Familiarize yourself with the terms and conditions of SARFAESI auctions, which typically involve an 'as is, where is' basis sale. It is highly recommended to conduct thorough due diligence, including property inspection and legal verification, before the auction date to make an informed decision. For any queries, the provided contact numbers are available for assistance.