Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:611184
Bank Name:Indian Bank
Branch Name:Karur Branch
Reserve Price:₹16,45,60,000
EMD:₹1,64,56,000
Bid Increment:₹1,00,000
Auction Time:10.00 am to 5.00pm
Service Provider:BAANKNET
Important Dates
Submission Date:18-11-2025 05:00 PM
Bid Start Date:2025-11-19
Property Description
This is a prime land parcel located in Manmangalam, Madurai, Tamil Nadu, offered for auction by Indian Bank. The property is categorized as residential and presents a significant investment opportunity in a growing region. Its accessibility and location within Madurai make it suitable for various development purposes. The auction is being conducted under the SARFAESI Act.
State:Tamil Nadu
City:Madurai
Area:Manmangalam
Asset Category:Residential
Full Address:Karur R.D. West Karur S.R.D., Karur Taluk (Presently Manmangalam Taluk), Andankovil East village, Manmangalam, Madurai
Size:0.87 Ac
Auction Description
Indian Bank is holding a SARFAESI auction for a land property in Manmangalam, Madurai. The auction will take place on November 19, 2025, starting at 10:00 AM and concluding at 5:00 PM. The reserve price for this asset is ₹16,45,60,000, with an Earnest Money Deposit (EMD) of ₹1,64,56,000 required to participate. This is a unique chance to acquire valuable land in Tamil Nadu.
Borrower Name:M/s Mathan Caar Decors
Auction Type:SARFAESI Auction
Guarantor Names:Mr.M.Mathankumar, Mrs.M. Sangeetha
Legal Details
Possession Status:Symbolic
Encumbrance Details:Not Known to Bank
Why This Property
The property is land in Manmangalam, Madurai, offering potential for development. The reserve price is substantial, requiring careful evaluation. While the location is promising, further due diligence is recommended before investing.
Contact Details
Branch:Branch Office : Karur Branch
Service Provider:BAANKNET
Contact Details:
Mayank Shekhar
Contact no:9486001002
