1 acre House for Auction in Madurai – KVB

Property Details

Property type

House (Residential)

Possession

Physical Possession

Area

1 acre (≈ 43,560 sq ft)

Reserve price / sq ft

₹269

Locality

—

City

Madurai

State

Tamil Nadu

Pincode

673853

Address

Mortgaged Asset: Property in the name of Mr.Bavananthan. In Madurai District, Chockikulam Sub-D.Now Chettikulam Sub-D, Madurai North Taluk, Thiruppalai Village, Patta No.205. Ayan Nanjai R.S.No. 141/2 as per real estate reform R.S.No. 141/4 for an extent 1 Acre 5 cents land and some other survey land combined layout which are divided into several plots in the name of "Backiayalakshmi Nagar" in that particularly Plot No.39, house site and house vagayara and Door No.2A bounded. on: North: Plot No.38 House site, East: 20 feet wide north south common Road, South: Plot No.40 House site, West: Plot No.32 House site. Measuring: East West on the both sides 50 feet and North South on the both sides 33 feet measuring for an extent of 1650 Sq.feet. In the constructed R.C.C.House and doors, windows, bathroom. Electricity connection and its deposit amount and drinking water connection and its deposit amount and electric motor etc., and the above property at present as per subdivision R.S.No. 141/4A2 and Madurai Corporation tax receipt TWAD colony 1st Street, Door No. 2A, Old tax assessment No. 115/673853 and new assessment No.115/024/03050 and electricity connection No.05-015-031-59 and the property Madurai Corporation Limit. Note: As on Actual Building comprise in Four Floor Building but the Plan Approval is available for Ground Floor&First Floor Alone-Approval Number 866/16 dated 09.02.2017. View on map

Description (as per sale notice)

Bank & Auction Details

Bank / Lender

Karur Vysya Bank

Branch

Thiruppalai

Auction type

SARFAESI Auction

Borrower

M/s B***** P*****

Auction start

22 Oct 2026, 11:00 AM

Auction end

22 Oct 2026, 12:00 PM

EMD submission deadline

21 Oct 2026, 05:00 PM

Inspection

—

Authorised officer

—

Officer contact

—

E-auction portal

bankauctions.in (4Closure) · Listing 2391956

Price Check

This listing's reserve price works out to ₹269 per sq ft. The average across residential bank auctions in Madurai on our site is ₹3,798 per sq ft, so this one is 93% 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.
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 2391956), complete KYC and get a digital signature certificate if required.
4. Pay the EMD of ₹11,70,000 before 21 Oct 2026, 05:00 PM. It is refunded if you don't win.
5. Bid online on 22 Oct 2026 starting above the reserve price, in multiples of ₹1,00,000.
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.