6.55 acre Office for Auction in Chandigarh – PNB

Property Details

Property type

Office (Commercial)

Possession

Not specified

Area

6.55 acre (≈ 2,85,318 sq ft)

Reserve price / sq ft

₹98

Locality

—

City

Chandigarh

State

Chandigarh

Pincode

160017

Address

1 OFFICE OF THE RECOVERY OFFICER-I DEBTS RECOVERY TRIBUNAL-II, CHANDIGARH First Floor SCO 33-34-35 Sector-17A, Chandigarh-160017 RC/569/2019 PUNJAB NATIONAL BANK V/S STAR RICE INDUSTRIES Dated: 13.08.2026 Present: Sh. Lovish, proxy counsel for Sh. RS Bhatia, Advocate for the CH Bank None for the CD(s) 1. Learned counsel for the CH Banks stated that notices issued under Rule-2 have been served upon the CD(s) through dasti mode as well as registered post and service report in this regard has been filed. It was further stated that notices issued under Rule-53 have also been served upon all the CDs through registered post and service report of the same has also been filed vide e-diary No.10463/2026 dated 13.08.2026. Hence, service of both the notices upon the CDs are completed. 2. Learned counsel for the CH Bank further stated that required details for issuing the proclamation of sale notices upon the CDs have already been filed. 3. Learned counsel for the CH Bank further submitted that the instant property was mortgaged with CH Bank. It was further submitted that the property is unencumbered property and no dues of any kind is pending against the mortgaged property and therefore, prays for issuance of POS. 4. In this case a Recovery Certificate, i.e. RC No.569/2019 in O.A. No.83/2017 was issued for recovery of sum of Rs.11,74,34,556.89P jointly and severally with costs, current and future with simple interest of 13.25%p.a. from the date of filing of the case i.e.07.01.2014 till View on map

Description (as per sale notice)

Bank & Auction Details

Bank / Lender

Punjab National Bank

Branch

DEBTS RECOVERY TRIBUNAL CHANDIGARH (DRT 2)

Auction type

DRT Auction

Borrower

—

Auction start

30 Sep 2026

Auction end

—

EMD submission deadline

—

Inspection

—

Authorised officer

Recovery Officer, Chandigarh DRT

Officer contact

—

E-auction portal

DEBTS RECOVERY TRIBUNAL CHANDIGARH (DRT 2)

Price Check

This listing's reserve price works out to ₹98 per sq ft. The average across commercial bank auctions in Chandigarh on our site is ₹6,989 per sq ft, so this one is 99% 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 (open notice).
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 (DEBTS RECOVERY TRIBUNAL CHANDIGARH (DRT 2)), 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 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.