Apartments/Flat for sale in Bengaluru, Bengaluru Urban, Karnataka
Asset Details
Reserve Price:
Date of E-Auction: 31/Dec/2024 12:00 
Assets Code: BOA-EB-81077
Ownership Type: Freehold 
Status of Possession: Physical
Carpet Area: None
Builtup Area: NA
Address
"All that piece and parcel of apartment bearing no. 109, 4th Floor in the apartment building known as “MSR Nigam “, measuring 1700sq.ft of super built up area with vitrified tiles flooring together with one covered car parking space and 400 Sq.Ft of undivided right, title and interest on property situated at property no. 50, present BBMP Katha No. 3, New PID No. 167-W0050-11, New Ward No. 167, 1st main Road, Tata silk Form, Bangalore and Bounded by: East :Site No.51West : Site No. 49,North : 1st Main Road, South : Site No. 38"
Additional Details
Apartment Flat bearing No. 109 4th Floor in the apartment building known as MSR Nigam measuring 1700 sq ft of super built up area with vitrified tiles flooring together with one covered car parking space and 400 Sq Ft of undivided right title and interest on property situated at property no. 50 present BBMP Katha No. 3 New PID No. 167W0050-11 New Ward No. 167 1st main Road Tata silk Form Bangalore
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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.
