Industrial land & Building for sale in CUTTACK, CUTTACK, ODISHA
Asset Details
Reserve Price:
Date of E-Auction: NA 
Assets Code: BOA-I-11545
Ownership Type: FREEHOLD 
Status of Possession: SARFAESI SYMBOLIC
Carpet Area: N/A
Builtup Area: N/A
Address
PLOT NO.270,MAUZA –BISWALPARA, P.S. – KISHNORENAGAR, CUTTACK
Additional Details
LAND BUILDING COLD STORAGE AT PLOT NO.270, KHATA NO.33, MAUZA –BISWALPARA, P.S. – KISHNORENAGAR, CUTTACK EXTENT OF AREA AC.2.27 DEC
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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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Loan Availability
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Possession Status
BankofStressedAssets.com offers details regarding the possession status of properties. Physical possession indicates that the property is secured, with the seller institution holding the keys. Symbolic possession means the seller institution possesses legal rights, yet physical possession remains pending. Understanding the possession status provides insight into the property's present condition.
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.
