Apartments/Flat for sale in Pune, Pune, Maharashtra
Asset Details
Reserve Price:
Date of E-Auction: 10/Jan/2025 10:00 
Assets Code: BOA-EB-123338
Ownership Type: Freehold 
Status of Possession: Symbolic
Carpet Area (Sq feet): None
Builtup Area (Sq feet): NA
Address
All that piece and parcel of a residential Flat bearing No. G/3, built up area 2000.00 Sq. Ft., Ground Floor, in building known as “Ferry Heights”, situated at S. No. 43, Hissa no. 1B/32 and S. No. 43 Hissa No. 1B/14 admeasuring altogether 15 Aar / R at village Kondhwa Khurd, Taluka Haveli, Dist. Pune within the local limits of Pune Municipal Corporation and within the jurisdiction of Sub Registrar Haveli Pune, standing in the name of Mr. Mr. Sarfaraj Raheman Khan & Mr. Imtiyaz Raheman Khan.(The above said property is covered by equitable mortgage of Assignment Deed dt. 20.05.2019 executed by M/s Ferry Enterprises & Developers (Prop. Salim Mehtab Shaikh) in favour of (i) Sh. Imtiyaz Rehman Khan and (ii) Sh. Sarfaraj Rehman Khan registered before SRO Haveli-XII, Pune).
Additional Details
None
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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
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.
