1,667 sq ft Land & Building for Auction in Erode – KVB

Property Details

Property type

Land & Building (Residential)

Possession

Not specified

Area

1,667 sq ft

Reserve price / sq ft

₹10,798

Locality

—

City

Erode

State

Tamil Nadu

Address

SCHEDULE-B: (Details of the mortgaged property of A.M. Shanmugam): Property No.2: Erode District, Erode Registration District, Erode Sub Registration District, Erode Taluk, Erode Town, previously Municipal Ward -12, presently Municipal Ward -14, Akilmedu Street, Old T.S.No.273/2, in this layout had been approved by the Director of Town Planning. Madras and Erode Municipal Commissioner under approval No.TP/DTP/5/58, in this Site No. 12, in this portion of schedule property Bounded by: East of Site No. 11 belonging to Eswaramoorthy, West of 4.6 feet width North-South pathway, North of 40 feet width East-West Akilmedu Street-4, South of property belonging to Gurunathan. Admeasuring, East-West on both sides 27.0 feet, North-South on both sides 61.9 feet. Within the said measurements an extent of 1667 sq.ft., of property with terraced house building and all other appurtenances thereon and rights to use the common roads etc., The schedule property is presently situated within the limits of Erode City Municipal Corporation, T.S.No.55 part, Block No. 16. New Ward A, Akilmedu Street-4 and D.No.15. View on map

Description (as per sale notice)

Bank & Auction Details

Bank / Lender

Karur Vysya Bank

Branch

Palayamkottai

Auction type

SARFAESI Auction

Borrower

M/s A*** M*****

Auction start

30 Sep 2026, 11:00 AM

Auction end

30 Sep 2026, 12:00 PM

EMD submission deadline

29 Sep 2026, 05:00 PM

Inspection

—

Authorised officer

—

Officer contact

—

E-auction portal

bankauctions.in (4Closure) · Listing 2378339

Price Check

This listing's reserve price works out to ₹10,798 per sq ft. The average across residential bank auctions in Erode on our site is ₹4,345 per sq ft, so this one is 149% 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 (bankauctions.in (4Closure) · Listing 2378339), complete KYC and get a digital signature certificate if required.
4. Pay the EMD of ₹18,00,000 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, in multiples of ₹5,00,000.
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.