Office Space for sale in Mumbai, Mumbai Suburban, Maharashtra
Asset Details
Address
OFFICE PREMISES NO 103 (CARPET AREA 1300 SQ FT) IN THE NAME OF MR. PIYUSH G CHHEDA AND UNIT NO. 104 (CARPET AREA 1711 SQ FT) IN THE NAME OF MRS. RUPAL P CHHEDA SITUATED AT SUNSHINE PLAZA, MARATHI GRANTH SANGRAHALAYA ROAD, DADAR EAST MUMBAI - 400014
Additional Details
OFFICE PREMISES NO 103 (CARPET AREA 1711 SQ FT) IN THE NAME OF MRS. RUPAL P CHHEDA SITUATED AT SUNSHINE PLAZA, MARATHI GRANTH SANGRAHALAYA ROAD, DADAR EAST MUMBAI - 400014
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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.