Land for auction C Imayam Apartment, Mambalam, Chennai by Shriram Finance Ltd

Prospective homebuyers are presented with a remarkable opportunity to acquire a prime residential asset in Chennai's highly sought-after Mambalam area. This offering comprises a first-floor apartment, Flat No. 2, within the well-regarded "Imayam Apartment" building, boasting a substantial super built-up area of 900 sq.ft., inclusive of common areas. A significant advantage is the accompanying undivided share (UDS) of 400 sq.ft. out of a total 2045 sq.ft. plot (Plot No. C.776, T.S.No.129 Part). Situated at Old No. 71, New No. 5, 15th Street, Ashok Nagar, Chennai 600 083, this property benefits immensely from its strategic location in Kodambakkam Village, Mambalam Taluk. Ashok Nagar is renowned for its established residential character, excellent connectivity to key city hubs, proximity to essential amenities like schools, hospitals, and commercial centers, making it ideal for families or as a lucrative investment, promising potential capital appreciation in one of Chennai's enduringly desirable neighborhoods.

This Shriram Finance Ltd. auction offers a transparent and secure pathway for new buyers to enter the property market through the SARFAESI Act, a robust mechanism empowering banks to recover non-performing assets, often ensuring clearer titles for buyers. The property, identified under Auction Id: 434494, has a competitive Reserve Price of Rs. 7,200,000.00, requiring an Earnest Money Deposit (EMD) of Rs. 720,000.00 to participate. The online bidding process, facilitated by Samil, is scheduled to commence on March 3, 2025, at 11:00 AM, concluding at 01:00 PM on the same day. Crucially, all interested bidders must submit their applications by 05:00 PM on March 1, 2025. It is highly recommended that potential bidders conduct thorough due diligence on both the property and auction terms. For specific queries or assistance with the application process, prospective buyers are encouraged to contact the provided mobile numbers: 9160005011 / 01 / 09.