6,335 sq feet Commercial Building for Auction in Virajpete, Madikeri – IDBI

Property Details

Property type

Commercial Building (Commercial)

Possession

Physical Possession

Area

6,335 sq feet (≈ 6,335 sq ft)

Reserve price / sq ft

₹3,552

Locality

Virajpete

City

Madikeri

State

Karnataka

Pincode

571218

Address

Virajpete, Karnataka, 571218 View on map

Description (as per sale notice)

Bank & Auction Details

Bank / Lender

IDBI Bank

Branch

NMG, Saidapet, Chennai

Auction type

DRT Auction

Borrower

K U**** I*****

Auction start

03 Dec 2026, 11:00 AM

Auction end

03 Dec 2026, 12:30 PM

EMD submission deadline

01 Dec 2026, 04:00 PM

Inspection

—

Authorised officer

Shri Naveen Kumar Agarwal

Officer contact

7990035836

E-auction portal

BAANKNET (Property ID IBKLKURBAN1)

Price Check

This listing's reserve price works out to ₹3,552 per sq ft. The average across commercial bank auctions in Madikeri on our site is ₹5,217 per sq ft, so this one is 32% 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 IBKLKURBAN1)), complete KYC and get a digital signature certificate if required.
4. Pay the EMD of — before 01 Dec 2026, 04:00 PM. It is refunded if you don't win.
5. Bid online on 3 Dec 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.