Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.5
Auction ID:612576
Bank Name:Canara Bank
Branch Name:Asset Recovery Management Branch
Reserve Price:₹20,00,000
EMD:₹2,00,000
Bid Increment:₹1,00,000
Auction Time:11:30 AM to 12:30 PM
Service Provider:BAANKNET
Important Dates
Submission Date:2025-11-24
Bid Start Date:2025-11-24
Property Description
This is a prime residential plot located in Bhavani, Erode, Tamil Nadu. The plot offers a great opportunity for residential development in a developing area. It is being auctioned by Canara Bank under SARFAESI regulations. The property is situated in a well-connected locality within Erode city.
State:Tamil Nadu
City:Erode
Area:Bhavani
Asset Category:Residential
Full Address:Door No.708 B, Kurichi Village, in R.S.No.994, New Sub Division No.994/2 (Old S.F.Nos 1, 2) Patta No.1484, Kurichi Village, Bhavani, Erode, Tamil Nadu
Size:2952 Sq.ft
Auction Description
Canara Bank is conducting a SARFAESI auction for a residential plot in Bhavani, Erode, Tamil Nadu. The auction will take place on November 24, 2025, from 11:30 AM to 12:30 PM. The reserve price for this plot is INR 20,00,000, with an Earnest Money Deposit (EMD) of INR 2,00,000. This is a significant opportunity for prospective buyers to acquire a plot in Erode.
Borrower Name:M/s. Indhirani Construction
Auction Type:SARFAESI Auction
Guarantor Names:Mrs. Poongodi
Legal Details
Possession Status:Symbolic
Encumbrance Details:Not Known to Bank
Why This Property
The plot offers a decent investment potential given its location in Bhavani and manageable size. However, the symbolic possession and potential encumbrances require careful due diligence. The moderate reserve price combined with auction terms makes it a calculated opportunity for interested buyers.
Contact Details
Branch:Branch Office : Asset Recovery Management Branch
Service Provider:BAANKNET
Contact Details:
Contact no:9489043584
