Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:612442
Bank Name:Canara Bank
Branch Name:Regional Office
Reserve Price:₹51,62,000
EMD:₹5,16,200
Bid Increment:₹10,000
Auction Time:11:30 AM to 12:30 PM
Service Provider:BAANKNET
Important Dates
Submission Date:2025-11-20
Bid Start Date:2025-11-21
Property Description
A residential plot located in Veerareddy Palayam, Vellore, Tamil Nadu. This plot is part of a bank auction by Canara Bank under SARFAESI rules. Ideal for residential development, this property offers a prime location within the developing area of Vellore. The auction is for a plot previously mortgaged by M/s. Padmavathi Steel.
State:Tamil Nadu
City:Vellore
Area:Veerareddy Palayam
Asset Category:Residential
Full Address:Veerareddy Palayam Village S.No. 355/2, Veerareddy Palayam, Vellore
Size:2618 sq.ft
Auction Description
Canara Bank is conducting a SARFAESI auction for a residential plot in Veerareddy Palayam, Vellore, Tamil Nadu. The auction has a reserve price of INR 51,62,000 and requires an EMD of INR 5,16,200. Bidders are advised to conduct their own due diligence regarding the property's legal status and physical condition. The auction will take place on November 21, 2025, starting at 11:30 AM and concluding at 12:30 PM. This is a unique opportunity to acquire property in Vellore.
Borrower Name:M/s. Padmavathi Steel
Auction Type:SARFAESI Auction
Guarantor Names:Mr.Nagarajan P., Mr. Dinesh Kanna N
Legal Details
Possession Status:Constructive
Encumbrance Details:Not Known to Bank
Why This Property
This property presents a calculated opportunity due to its location in Veerareddy Palayam and the land's size. While the reserve price is reasonable, potential investors should assess the locality's growth prospects. The auction terms are standard, making it a moderate-risk investment.
Contact Details
Branch:Branch Office : Regional Office
Service Provider:BAANKNET
Contact Details:
Authorized Officer
Contact no:91-9290037276
