Industrial Shed for sale in Narasannapeta, Srikakulam, Andhra Pradesh
Asset Details
Reserve Price:
Date of E-Auction: 31/Dec/2024 12:00 
Assets Code: BOA-EB-76066
Ownership Type: Freehold 
Status of Possession: Symbolic
Carpet Area: None
Builtup Area: NA
Address
"EMD of land and GF GI Sheet & RCC Industrial building to an extent of 74 cents situated at Sy. No. 25/13 Part (25-13a1), 25/17, & 25/18, Anguru revenue village Venkatapuram Panchayat, Saravakota Mandal, Srikakulam Distt. Bounded by (As per physical)As per Approved PlanEast: 66’ Wide R & B RoadSouth: Survey No. 25/19West:Survey No. 27North:Survey No. 25/15As per Physical East: BT RoadSouth: Dry land of othersWest: Hill (Konda)North: Dry land of others"
Additional Details
EMD of land and GF GI Sheet & RCC Industrial building to an extent of 74 cents situated at Sy. No. 25/13 Part (25-13a1), 25/17, & 25/18, Anguru revenue village Venkatapuram Panchayat, Saravakota Mandal, Srikakulam Distt. Bounded by (As per physical)
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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.
