Commercial Plot/Land for sale in Kapurthala, Kapurthala, Punjab
Asset Details
Address
Equitable mortgage of commercial property measuring 0K-14M situate at kapurthala Sharki ,being 14/46 share of land measuring 2K-6M comprised Khewat no 886/1122 bearing Khasra No. 6745/6425/6227/4882/2-6 Gair Mumkin Abadi(Non-Agriculture ), as per Jamabandi for the year 2005-206 Hadbast no.-134 in the name of Mr. Harinder Singh S/o Sh. Kartar Singh (vide Vasika No.s 2740 dt 07.10.2004 and Vasika No.3356 dt 19.11.20204) Mall road Kapurthala Near Lal Kothi Kapurthala
Additional Details
Equitable mortgage of commercial property measuring 0K-14M situate at kapurthala Sharki ,being 14/46 share of land measuring 2K-6M comprised Khewat no 886/1122 bearing Khasra No. 6745/6425/6227/4882/2-6 Gair Mumkin Abadi(Non-Agriculture ), as per Jamabandi for the year 2005-206 Hadbast no.-134 in the name of Mr. Harinder Singh S/o Sh. Kartar Singh (vide Vasika No.s 2740 dt 07.10.2004 and Vasika No.3356 dt 19.11.20204) Mall road Kapurthala Near Lal Kothi Kapurthala
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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.