Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:612225
Bank Name:Union Bank of India
Branch Name:ASSET RECOVERY BRANCH, VISAKHAPATNAM
Reserve Price:₹3,90,00,000
EMD:₹39,00,000
Bid Increment:₹3,90,000
Auction Time:12:00 Noon to 5.00 p.m
Service Provider:BAANKNET
Important Dates
Submission Date:27-11-2025 05:00 PM
Bid Start Date:2025-11-28
Property Description
This offering presents a prime plot of land located in the rapidly developing area of Madhurawada, Visakhapatnam, Andhra Pradesh. Ideal for residential development, this asset provides a significant opportunity in a sought-after locale. The property is being auctioned by Union Bank of India as part of a SARFAESI action. Its strategic location ensures good connectivity and potential for future appreciation.
State:Andhra Pradesh
City:Visakhapatnam
Area:Madhurawada
Asset Category:Residential
Full Address:Sy No. 53/5, Patta No's. 192 & 193, Kommadi Village, Madhurawada SRO District, GVMC Visakhapatnam limits, Madhurawada, Visakhapatnam
Size:2202.20 Sq. Yards
Auction Description
Union Bank of India is conducting a SARFAESI auction for a valuable parcel of land in Madhurawada, Visakhapatnam. The auction is set to take place on November 28, 2025, commencing at 12:00 PM and concluding at 5:00 PM. The reserve price for this residential land is ₹3,90,00,000, with an Earnest Money Deposit (EMD) of ₹39,00,000 required to participate. This is a unique chance to acquire a substantial land asset in a growing urban center.
Borrower Name:M/s Infinite Shipping & Engineering Pvt. Ltd
Auction Type:SARFAESI Auction
Guarantor Names:Mr. Narava Apparao, Mr. Narava Rajasekhar, Mrs. Narava Anuradha, Mr. P R J Srinivasa Raju, Mrs. P P Hema Sridevi, Mrs. Chitturi Janaki Ram, Mrs. Narava Sudha Rani, Mr. D Venkata Rama Raju, Mrs. D Lakshmi Devi, Mr. Pericharla Harinadha Raju, Mrs. Pericharla Venkata Subba Lakshmi
Legal Details
Possession Status:Physical
Encumbrance Details:Not Known to Bank
Why This Property
The property is a large land parcel in Madhurawada, a developing area of Visakhapatnam. The reserve price is considerable, requiring careful evaluation of market value and development potential. The recommendation is a 'Calculated Opportunity' due to the area's growth potential balanced against the high reserve price.
Contact Details
Branch:Branch Office : ASSET RECOVERY BRANCH, VISAKHAPATNAM
Service Provider:BAANKNET
Contact Details:
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