Apartments/Flat for sale in Paddhari, Rajkot, Gujarat
Asset Details
Reserve Price:
Date of E-Auction: 28/Jan/2025 11:00 
Assets Code: BOA-EB-356374
Ownership Type: Freehold 
Status of Possession: Symbolic
Carpet Area (Sq feet): None
Builtup Area (Sq feet): NA
Address
"All those pieces & parcel of property with construction & fixture there being & lying at – Revenue Survey No. 248 Paiki 10 Paiki, Plot No. 25 to 34, Sub Plot No. 25 to 34/1, Residential Flat No. 1303 on the 13th Floor in wing Green “Apple Elegance” situated in Vraj Bhumi -2, Near Taxshilla College, Off. Kalawad Road, Village Ishwariya, Tal – Paddhari Dist.- Rajkot – 360110 (Gujarat)"
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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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.
