Apartments/Flat for sale in Coimbatore, Coimbatore, Tamil Nadu
Asset Details
Reserve Price:
Date of E-Auction: 06/Jan/2025 02:00 
Assets Code: BOA-EB-75641
Ownership Type: Freehold 
Status of Possession: Symbolic
Carpet Area (Sq feet): None
Builtup Area (Sq feet): NA
Address
FLAT NO: 406, "F" BLOCK, 4TH FLOOR, "SREE DAKSHA’S AASHIRTHA", Prabha Nagar, Thodamuthur Road, Vadavalli, Perur Taluk, Coimbatore - 641046
Additional Details
Equitable Mortgage of flat, situated at Vadavalli Village in S.F.No.493/2 part, 494/1B, 492/2 & 494/1A and Veerakeralam Village in S.F.No.306/1 part the property situated within the limits of Coimbatore Corporation. 1. Total No. of Flat - 80, 2. Undivided share of land – 459 Sq.ft, 3. Plinth are of Flat No. “406”, In Block “F” on the Fourth Floor – 1048 Sq.ft (With one car parking), "SREE DAKSHA’S AASHIRTHA", Prabha Nagar, Vadavalli, Coimbatore - 641046. This property is standing in the name of Mr.A.S.Gopalakrishna.
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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.
