Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 4.5
Auction ID:610723
Bank Name:State Bank of India
Branch Name:Regional office
Reserve Price:₹5,50,000
EMD:₹55,000
Bid Increment:₹5,000
Auction Time:11:00 AM to 4:00 PM
Service Provider:BAANKNET
Important Dates
Submission Date:14-11-2025 05:00 PM
Bid Start Date:2025-11-15
Property Description
This is a bank auction by the State Bank of India for a vehicle located in Prakasam, Andhra Pradesh. The property is a vehicle, part of the SARFAESI auction process. The borrower is Sri Devarakonda Somashekar. This is an excellent opportunity for potential buyers to acquire a vehicle through a transparent auction process.
State:Andhra Pradesh
City:Prakasam
Area:Prakasam
Asset Category:Vehicle Auctions
Full Address:Prakasam, Prakasam
Auction Description
State Bank of India is conducting a SARFAESI auction for a vehicle in Prakasam, Andhra Pradesh. The auction will commence on November 15, 2025, at 11:00 AM and conclude at 4:00 PM on the same day. The reserve price for this vehicle auction is ₹5,50,000, with an Earnest Money Deposit (EMD) of ₹55,000 required to participate. Interested parties are encouraged to review all auction terms and conditions before bidding.
Borrower Name:Sri Devarakonda Somashekar
Auction Type:SARFAESI Auction
Legal Details
Possession Status:Symbolic
Encumbrance Details:Not Known to Bank
Why This Property
This is a vehicle auction, and the investment appeal depends on the vehicle's condition and market demand. The reserve price is reasonable, and the location is specified. This warrants a 'Calculated Opportunity' rating, suitable for those familiar with vehicle valuation and market dynamics.
Contact Details
Branch:Branch Office : Regional office
Service Provider:BAANKNET
Contact Details:
Branch Manager
Contact no:9398380205
