12,640 sq feet Commercial Building for Sale (Bank Auction) in Chengalpattu – IOB

Property Details

Property type

Commercial Building (Commercial)

Possession

Physical Possession

Area

12,640 sq feet (≈ 12,640 sq ft)

Reserve price / sq ft

₹6,590

Locality

—

City

Chengalpattu

State

Tamil Nadu

Pincode

603001

Address

Chengalpattu, Tamil Nadu, 603001 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

Challani R***** J*****

Auction start

—

Auction end

—

EMD submission deadline

—

Inspection

—

Authorised officer

—

Officer contact

—

E-auction portal

BAANKNET (Property ID IOBACHALLANI01)

Price Check

This listing's reserve price works out to ₹6,590 per sq ft. The average across commercial bank auctions in Chengalpattu on our site is ₹5,805 per sq ft, so this one is 14% above 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 IOBACHALLANI01)), complete KYC and get a digital signature certificate if required.
4. Pay the EMD of — before —. It is refunded if you don't win.
5. Bid online on — 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.