Apartments/Flat for sale in Chennai, Chennai, Tamil Nadu
Asset Details
Reserve Price:
Date of E-Auction: 26/Dec/2024 10:30 
Assets Code: BOA-EB-36975
Ownership Type: Freehold 
Status of Possession: Symbolic
Carpet Area: None
Builtup Area: NA
Address
All that piece and parcel of 582 sq.feet undivided share of land in all that piece and parcel of land measuring an extent of 5016 sq.ft comprised in Old Survey nos. 125/2 part & 125/3A1A1, T S No.108, Block no.23 of Tiruvanmiyur Village, Mylapore-Triplicane Taluk situated at old door no. 2 & 3, Kalashetra road, Tiruvanmiyar, Chennai District, In all measuring 5016 Square feet together with pent house and terrace constructed there on measuring 2311 Sq.ft bearing Flat no.S1 in the second floor along with the proportionate common area of the building known as “Land marvel” and with amenities there on, lying within the registration District of south Chennai and sub registration District of Saidapet.North by : Town survey No.96South by : Block No.27 (Road)East by : Town survey No.109West by : Town survey No.127/1 & 107/2
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
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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.
