Land for auction Veerakkal Pudur, Mettur, Salem by Indian Overseas Bank

This exceptional residential property, located in the thriving area of Veerakkal Pudur, Mettur, Salem, Tamil Nadu, presents a unique opportunity for prospective homeowners and investors. The offering comprises a substantial 2205 sq ft land parcel, complemented by a robust RCC building spanning 2401 sq ft, meticulously designed across two floors – a spacious ground floor measuring 1537.25 sq ft and a well-appointed first floor of 863.75 sq ft. Additionally, the property features a practical 336.56 sq ft AC sheet roof on the ground floor, enhancing its utility. Situated at D.No.4/1-16, 4/1-17, S.F No.66/1A2, its strategic location in Mettur ensures access to local amenities and connectivity, making it ideal for a growing family or as a valuable asset for future appreciation. The distinct boundaries, clearly outlined with neighboring properties, provide clarity and security for the buyer, affirming its status as a prime real estate acquisition in a developing locale.

Prospective buyers keen on acquiring this property should note the upcoming SARFAESI auction, conducted by Indian Overseas Bank, a transparent and legally robust process for distressed asset recovery. The auction is scheduled to commence on March 20, 2025, at 11:00 AM, concluding at 03:00 PM on the same day. Key financial aspects include a competitive Reserve Price of Rs. 2,441,760.00, requiring an Earnest Money Deposit (EMD) of Rs. 244,176.00 to participate, which is typically refundable if you are not the successful bidder. All applications for participation must be submitted by March 19, 2025, 05:00 PM. The auction is facilitated by BAANKNET, ensuring a professional and structured bidding environment. New buyers are strongly encouraged to conduct thorough due diligence, including physical inspection of the property and reviewing all auction terms and conditions. For any inquiries or assistance, Mr. Elayaraja P can be reached at 8925950156.