Land for auction NO OBJECTION CERTIFICATE Perumbakkam Chennai by Indian Overseas Bank

The property is a land parcel in Perumbakkam, Chennai, with a 63% Undivided Share (UDS) of 365 cents. It includes 63% of the construction comprising residential blocks 1 through 5 and commercial blocks. The net saleable land area after exclusions is 97,010 sq. ft. The property is situated on Perumbakkam-Nukkampalayam Main Road. Key details about the boundaries are provided in the auction notice. The property is registered under the Sub Registration District of Selaiyur and the Registration District of Chennai South. A critical encumbrance involves the unauthorized sale of 26,550 sq. ft. of UDS by M/s Arul Constructions without the bank's consent, which the bank is seeking to nullify. The auction is for a residential asset.

This is a SARFAESI auction conducted by Indian Overseas Bank for a land property in Perumbakkam, Chennai. The property consists of 63% Undivided Share (UDS) of 365 cents of land with 63% construction of residential blocks 1-5 and commercial blocks. The total balance land area available for sale is 97,010 sq. ft. The property is located on Perumbakkam-Nukkampalayam Main Road, Perumbakkam, Chennai 600 100. The auction has a reserve price of ₹10,66,00,000.00 and an Earnest Money Deposit (EMD) of ₹1,06,60,000.00. A significant encumbrance is noted: M/s Arul Constructions sold UDS shares of the mortgaged property without the bank's NOC, totaling 26,550 sq. ft. The bank has initiated a process to cancel these fraudulent sale deeds. Bidders are advised to be aware of these encumbrances. The auction is scheduled for June 27, 2025, from 10:00 AM to 11:30 AM.