Property Type:
Location:
Auction Date:Auction Details
Recommendation:Strong BuyScore: 7.5
Auction ID:611162
Bank Name:Indian Overseas Bank
Branch Name:REGIONAL OFFICE COIMBATORE
Reserve Price:₹4,02,00,000
EMD:₹40,20,000
Bid Increment:₹1,00,000
Auction Time:10:30 AM to 1.30 PM
Service Provider:BAANKNET
Important Dates
Submission Date:19-11-2025 05:00 PM
Bid Start Date:2025-11-20
Property Description
This auction features a prime piece of land in Annur, Coimbatore, Tamil Nadu, categorized as residential asset. The property is being auctioned by Indian Overseas Bank under the SARFAESI Act. Located in a developing area, this land presents a significant opportunity for developers or individuals looking to invest in real estate in this region. Its accessibility and proximity to local amenities make it a potentially valuable acquisition.
State:Tamil Nadu
City:Coimbatore
Area:Annur
Asset Category:Residential
Full Address:Annur village, R.S.No.5798/2D, Annur, Coimbatore
Size:0.83 Acres
Auction Description
Indian Overseas Bank is conducting a SARFAESI auction for a land parcel in Annur, Coimbatore, Tamil Nadu. The reserve price for this auction is ₹4,02,00,000, with an Earnest Money Deposit (EMD) of ₹40,20,000. The auction will commence on November 20, 2025, at 10:30 AM and conclude at 01:30 PM on the same day. This is a unique opportunity to acquire a substantial land asset in a growing part of Coimbatore.
Borrower Name:M/s.Sri Baba Electricals
Auction Type:SARFAESI Auction
Guarantor Names:Mr. Vadivel, Mr.K.Palanisamy
Legal Details
Possession Status:Symbolic
Encumbrance Details:Nil as per Bank's Knowledge
Why This Property
The property's location in Annur, Coimbatore, coupled with its size, makes it a potentially lucrative investment. While the reserve price is relatively high, the strong location and auction terms justify a 'Strong Buy' recommendation.
Contact Details
Branch:Branch Office : REGIONAL OFFICE COIMBATORE
Service Provider:BAANKNET
Contact Details:
Branch Manager
Contact no:0421-2246222/2233490
