Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:612562
Bank Name:Canara Bank
Branch Name:Asset Recovery Management Branch
Reserve Price:₹59,00,000
EMD:₹5,90,000
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
A valuable residential plot located in Bhavani, Erode, Tamil Nadu. This asset offers a prime opportunity in a developing area, suitable for residential construction. The property is being auctioned by Canara Bank under SARFAESI regulations. Its strategic location in Erode provides access to local amenities and infrastructure. Ideal for investors or individuals looking to build their dream home in a growing region.
State:Tamil Nadu
City:Erode
Area:Bhavani
Asset Category:Residential
Full Address:Natham R.S.No.1136/4, R.S.No.587/1, (S.F.No.379, 346/1) Patta No.1178 and Natham R.S.No.1136/5, R.S.No.587/1 (S.F.No.379, 346/1) Patta No.683, Kurichi Village, Bhavani, Erode, Tamil Nadu
Size:17.54 Cents
Auction Description
Canara Bank presents a SARFAESI auction for a residential plot in Bhavani, Erode, Tamil Nadu. The auction has a reserve price of INR 59,00,000 and requires an Earnest Money Deposit (EMD) of INR 5,90,000. The auction will take place on 24-11-2025, commencing at 11:30 AM and concluding at 12:30 PM. This is a significant opportunity to acquire property through a transparent banking auction process.
Borrower Name:M/s.Indhirani Metalmart & Hardwares
Auction Type:SARFAESI Auction
Guarantor Names:Mr.R. Kumaresan, Mrs. Poongodi, Mrs.R.Indhirani
Legal Details
Possession Status:Symbolic
Encumbrance Details:Not Known to Bank
Why This Property
The plot in Bhavani offers a decent opportunity due to its location and relatively lower price point. However, potential buyers should conduct thorough due diligence regarding the land's encumbrances and future development prospects. The symbolic possession adds a layer of complexity.
Contact Details
Branch:Branch Office : Asset Recovery Management Branch
Service Provider:BAANKNET
Contact Details:
Authorized Officer
Contact no:9489043584
