5,000 sq feet Commercial Building for Auction in Eruvatti, Kannur – IOB

Property Details

Property type

Commercial Building (Commercial)

Possession

Symbolic Possession

Area

5,000 sq feet (≈ 5,000 sq ft)

Reserve price / sq ft

₹2,718

Locality

Eruvatti

City

Kannur

State

Kerala

Pincode

670643

Address

Eruvatti, Kerala, 670643 View on map

Description (as per sale notice)

Bank & Auction Details

Bank / Lender

Indian Overseas Bank

Branch

ALWAYE ( ALUVA )-664

Auction type

SARFAESI Auction

Borrower

Silverstream P***** & C*****

Auction start

24 Nov 2026, 11:00 AM

Auction end

24 Nov 2026, 02:00 PM

EMD submission deadline

24 Nov 2026, 01:50 PM

Inspection

—

Authorised officer

Remya Sankar

Officer contact

8925952589

E-auction portal

BAANKNET (Property ID IOBASilverstream114cents)

Price Check

This listing's reserve price works out to ₹2,718 per sq ft. The average across commercial bank auctions in Kannur on our site is ₹10,626 per sq ft, so this one is 74% below that average. Auction reserve prices are set by the bank's valuer and are not a guide to market value — compare with recent sale prices in the locality before bidding.

How to Participate in This Auction

1. Read the official notice carefully — it contains the full terms, the property schedule and any known dues.
2. Inspect the property on the inspection date given in the notice and check the title, society/municipal dues and occupancy.
3. Register on the e-auction portal (BAANKNET (Property ID IOBASilverstream114cents)), complete KYC and get a digital signature certificate if required.
4. Pay the EMD of — before 24 Nov 2026, 01:50 PM. It is refunded if you don't win.
5. Bid online on 24 Nov 2026 starting above the reserve price.
6. If you win, pay 25% of the bid amount (including EMD) as per the notice and the balance within the time allowed, usually 15 days.

Read our due diligence checklist and EMD guide before bidding.