Commercial Plot/Land for sale in Ludhiana, Ludhiana, Punjab
Asset Details
Reserve Price:
Date of E-Auction: 22/Jan/2025 02:00 
Assets Code: BOA-EB-278301
Ownership Type: Freehold 
Status of Possession: Symbolic
Carpet Area (Sq feet): None
Builtup Area (Sq feet): NA
Address
address B-XXX-2185, FPE 5 1 Focal Point adjoining Phase-VII, Dhandari Khurd, Near Devgan Dharam Kanta, Ludhiana-141010
Additional Details
Property measuring 2K-4-1/2M (1346 Sq Yds Approx) comprised in Khasra No 18//11/2, 12/2, 19//14/2/2, 17/1/2, 15/2, 16/1, Khata No 100/106 as per jamabandi for the years 2001-2002 as mentioned in the sale deed and khata no 121/124 as per latest jamabandi for the year 2011-2012 situated at Revenue estate of Village Dhandari Khurd, H.B 242, tehsil and Dist Ludhiana Jointly owned by Mr Samin Mittal S/O Pawan Kumar Mittal and Mr Ramin Mittal S/o Pawan Kumar Mittal vide sale deed no 19508 dated 15.02.2006 and bounded as East : Mahajan Packers Factory 180’-0”West: Vacant Plot 180’-0”North: Labour Quarters 67’-3” South: Road 67’-3”
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Insights
Seller’s Reserve Price
The reserve price set by the seller for a property auction excludes all property-related dues like taxes, utilities, maintenance, and industrial authority fees.
Earnest Money Deposit (EMD)
The earnest money deposit (EMD) is the minimum amount paid by the buyer to the seller institution to confirm participation in the auction. If the bidder is unsuccessful, the EMD is refundable. However, it will be forfeited in the event of non-payment after winning the auction.
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Possession Status
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SARFAESI Act
The SARFAESI Act, an abbreviation for the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, is legislation implemented in India to empower banks and financial institutions in efficiently recovering their non-performing assets (NPAs). This act grants banks the authority to seize and sell properties of defaulting borrowers without court intervention, providing a legal framework for the swift resolution of distressed assets. By enabling banks to enforce their security interests effectively, the SARFAESI Act significantly aids in loan recovery and upholds financial system stability. Access the Act here.
