620 sq feet House for Auction in Salem – IDBI

Property Details

Property type

House (Residential)

Possession

Symbolic Possession

Area

620 sq feet (≈ 620 sq ft)

Reserve price / sq ft

₹14,481

Locality

—

City

Salem

State

Tamil Nadu

Pincode

636007

Address

Salem, Tamil Nadu, 636007 View on map

Description (as per sale notice)

Bank & Auction Details

Bank / Lender

IDBI Bank

Branch

Salem

Auction type

SARFAESI Auction

Borrower

Vivek B

Auction start

30 Sep 2026, 10:30 AM

Auction end

30 Sep 2026, 11:30 AM

EMD submission deadline

29 Sep 2026, 05:00 PM

Inspection

16 Sep 2026, 03:00 PM – 16 Sep 2026, 04:00 PM

Authorised officer

Sundar V

Officer contact

9445456486

E-auction portal

BAANKNET (Property ID IBKL211-2)

Price Check

This listing's reserve price works out to ₹14,481 per sq ft. The average across residential bank auctions in Salem on our site is ₹3,578 per sq ft, so this one is 305% 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 16 Sep 2026 and check the title, society/municipal dues and occupancy.
3. Register on the e-auction portal (BAANKNET (Property ID IBKL211-2)), complete KYC and get a digital signature certificate if required.
4. Pay the EMD of — before 29 Sep 2026, 05:00 PM. It is refunded if you don't win.
5. Bid online on 30 Sep 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.