Office Space for sale in Ludhiana, Ludhiana, Punjab
Asset Details
Address
EQM of residential property measuring 80 sq yards comprised in Khata no 1682/1,1863/1 khasra no 4263/291 as per jamabandi year 1987-88 situated at plot no 3532 st. no 16, taraf saidan new madhopuri ludhiana bearing vasika no 23119 dated 28-12-1993 registered by sub registrar, Ludhiana in the name of Smt Geeta Jain W/O Sh Raman Kumar Jain.North Neighbour side 25’-3’’ East Street Side 28’-6’’South Street Side 25’-3’’ West Neighbour Side 28’-6’’
Additional Details
EQM of residential property measuring 80 sq yards comprised in Khata no 1682/1,1863/1 khasra no 4263/291 as per jamabandi year 1987-88 situated at plot no 3532 st. no 16, taraf saidan new madhopuri ludhiana bearing vasika no 23119 dated 28-12-1993 registered by sub registrar, Ludhiana in the name of Smt Geeta Jain W/O Sh Raman Kumar Jain.North Neighbour side 25’-3’’ East Street Side 28’-6’’South Street Side 25’-3’’ West Neighbour Side 28’-6’’
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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.