1.63 acres Commercial Building for Auction in Pollachi, Coimbatore – IOB

Property Details

Property type

Commercial Building (Commercial)

Possession

Symbolic Possession

Area

1.63 acres (≈ 71,002 sq ft)

Reserve price / sq ft

₹319

Locality

Pollachi

City

Coimbatore

State

Tamil Nadu

Pincode

642002

Address

Pollachi, Tamil Nadu, 642002 View on map

Description (as per sale notice)

Bank & Auction Details

Bank / Lender

Indian Overseas Bank

Branch

ASSET RECOVERY MANAGEMENT BR.,CHENNAI-1535

Auction type

SARFAESI Auction

Borrower

Abhiramhi M***** & R M*****

Auction start

23 Nov 2026, 10:30 AM

Auction end

23 Nov 2026, 12:30 PM

EMD submission deadline

23 Nov 2026, 10:30 AM

Inspection

—

Authorised officer

abhay kardam

Officer contact

8755364735

E-auction portal

BAANKNET (Property ID IOBA1535ABHIRAMHI)

Price Check

This listing's reserve price works out to ₹319 per sq ft. The average across commercial bank auctions in Coimbatore on our site is ₹2,644 per sq ft, so this one is 88% 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.

Previous Auctions of This Property

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 IOBA1535ABHIRAMHI)), complete KYC and get a digital signature certificate if required.
4. Pay the EMD of — before 23 Nov 2026, 10:30 AM. It is refunded if you don't win.
5. Bid online on 23 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.