Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.5
Auction ID:609441
Bank Name:Tamilnad Mercantile Bank Limited
Branch Name:Thoothukudi
Reserve Price:₹1,68,77,000
EMD:₹16,87,700
Bid Increment:₹10,000
Auction Time:12.00 PM to 1.00 PM
Service Provider:drt.auctiontiger.net
Important Dates
Submission Date:2025-11-05
Bid Start Date:2025-11-06
Property Description
A prime plot of land located in the well-connected area of Selaiyur, Chennai, Tamil Nadu. This residential land offers a great opportunity for development or investment in a growing urban locality. The property is being auctioned by Tamilnad Mercantile Bank Limited.
State:Tamil Nadu
City:Chennai
Area:Selaiyur
Asset Category:Residential
Full Address:37/169, No.37/169, 1st floor, Thiruvalluvar Street, East Tambaram, Chennai – 600 059, Selaiyur, Chennai
Size:1777.50 sq.ft
Auction Description
This is a SARFAESI auction conducted by Tamilnad Mercantile Bank Limited for a valuable plot of land in Selaiyur, Chennai. The auction will take place on November 6, 2025, from 12:00 PM to 1:00 PM. The reserve price is ₹1,68,77,000, with an Earnest Money Deposit (EMD) of ₹16,87,700 required. This is a unique chance to acquire a significant asset from a reputable bank.
Borrower Name:Mr.P.Soundarajan
Auction Type:SARFAESI Auction
Guarantor Names:Mrs.S.Radha
Legal Details
Possession Status:Symbolic
Encumbrance Details:There is a SA.No.387/2025 pending before the Hon'ble DRT-III filed by the Borrower, Challanging the physical possession order dated 02.05.2025, in Crl. MP.1058//2025 passed by THE Hon'ble CJM, Chengalpat and the same is pending.
Why This Property
The property is a land in a developed area of Chennai and the price looks reasonable . However, pending legal issues slightly increase the risk, meriting a 'Calculated Opportunity' assessment. Potential buyers should carefully evaluate the encumbrance details before bidding.
Contact Details
Branch:Branch Office : Thoothukudi
Service Provider:drt.auctiontiger.net
Contact Details:
Contact no:9578177700
