Apartments/Flat for sale in Nagpur, Nagpur, Maharashtra
Asset Details
Reserve Price:
Date of E-Auction: 28/Jan/2025 11:00 
Assets Code: BOA-EB-97212
Ownership Type: Freehold 
Status of Possession: Symbolic
Carpet Area (Sq feet): None
Builtup Area (Sq feet): NA
Address
All that pieces and parcel of the N.A. Plot situated at Mouza-Bhankheda Talathi Saja No.- Nagpur, City Survey No.-70, Plot No.-49, RCC superstructure comprising Residential Apartment No.402, on ’4th Floor’ Admeasurements approx 73.760 Sq. Mtr. (793.94 Sq. Ft.), Carpet Area-37.677 Sq. Mtr. (405.55 Sq. Ft.) in a building known and styled as "BABA BAITALIRAM PALACE" together with the 5.971 undivided share and interest in all that piece and parcel of land together admeasuring plot Area-418.063 Sq. Mtr. (4500.00 Sq. Ft.) situated at Mouza-Bhankheda, within the under of Municipal Corporation-Nagpur & Nagpur Improvement Trust, Dist.-Nagpur. and bounded as under:-On the North : Plot No .48On the East : RoadOn the West : RoadOn the South : Plot No .50
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.
