Apartments/Flat for sale in RANCHI, RANCHI, JHARKHAND
Asset Details
Reserve Price:
Date of E-Auction: NA 
Assets Code: BOA-I-4837
Ownership Type: FREEHOLD 
Status of Possession: SARFAESI SYMBOLIC
Carpet Area (Sq feet): N/A
Builtup Area (Sq feet): N/A
Address
flat no. 3 303 on 3rd floor area 1055 sq. ft. in Ishwar Enclave apartment at PeePee Compound Ranchi
Additional Details
flat no. 3 303 on 3rd floor area 1300 sq. ft. in Ishwar Enclave apartment at PeePee Compound Ranchi Sale deed no 2618 BY 2388 dtd.28022001 including one car parking space
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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.
