Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 5.8
Auction ID:609500
Bank Name:Union Bank of India
Branch Name:Regional Office
Reserve Price:₹27,84,000
EMD:₹2,78,400
Bid Increment:₹25,000
Auction Time:12:00 Noon to 05:00 PM
Service Provider:BAANKNET
Important Dates
Submission Date:14-11-2025 05:00 PM
Bid Start Date:2025-11-14
Property Description
Prime land parcel located in Magudanchavadi, Salem, Tamil Nadu. This residential land offers a significant opportunity for development or investment. Situated in a developing area, it benefits from the growing infrastructure of Salem city. The property is being auctioned by the Union Bank of India under SARFAESI Act. Ideal for those looking to acquire a valuable asset in a well-connected region.
State:Tamil Nadu
City:Salem
Area:Magudanchavadi
Asset Category:Residential
Full Address:Siddarkoil Pon Nagar, Natham S.No.122 (part), UDR Patta No.284, New S.No. 726/8, Idanganasalai Village, Idanganasalai, Salem
Size:1178 sft
Auction Description
Union Bank of India is conducting a SARFAESI auction for a valuable land property in Magudanchavadi, Salem, Tamil Nadu. The auction is scheduled to take place on November 14, 2025, from 12:00 PM to 5:00 PM. The reserve price for this attractive plot is INR 27,84,000, with an Earnest Money Deposit (EMD) of INR 2,78,400. This is a unique chance to own a piece of Salem's burgeoning landscape. Interested bidders are encouraged to participate in this online auction event.
Borrower Name:Mr. V. Meganathan
Auction Type:SARFAESI Auction
Guarantor Names:Mr.S. Vadivel, Mrs. V. Rajakumari
Legal Details
Possession Status:Symbolic
Encumbrance Details:Nil; However bidders are requested to make their enquiry.
Why This Property
The property is a land parcel with building in a developing area near Salem, presenting a moderate investment opportunity. The reserve price appears reasonable, but potential bidders should thoroughly investigate encumbrances. Given the location and symbolic possession, it's categorized as a 'Calculated Opportunity'.
Contact Details
Branch:Branch Office : Regional Office
Service Provider:BAANKNET
Contact Details:
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