5,567.5 sq ft Commercial Building for Auction in Virudhunagar – SIB

Property Details

Property type

Commercial Building (Commercial)

Possession

Physical Possession

Area

5,567.5 sq ft

Reserve price / sq ft

₹1,197

Locality

—

City

Virudhunagar

State

Tamil Nadu

Address

Description of property:- Item No.1:- All that part and parcel of land admeasuring 5567.50 Sq.ft along with industrial building thereon bearing Door No. 120, 120R, 12088, 120B10 in Ward No. 2 of Dhalavaipuram Panchayat admeasuring 3340.12 Sq. ft. (approx) along with all other constructions, improvements, easementary rights existing and appurtenant thereon situated in S No. 331/1, now new as per sub division S No. 331/1A, S No. 333/2, now new S No. 333/2A within Chettiyarpatti Village, Rajapalayam Taluk, Virudhunagar District and owned by Mr. KS Ramesh, morefully described in Partition Deed No. 2315/2006 dated 30-11-2006 & Rectification Deed No. 1526/2013 dated 30-05-2013 both of Sub Registrar Office - Seithur and bounded on North: East West common pathway, South: K S Senthilkumar partition building, East: 2nd Schedule building and North South common wall, West: North South street. View on map

Description (as per sale notice)

Bank & Auction Details

Bank / Lender

South Indian Bank

Branch

Rajapalayam Branch

Auction type

SARFAESI Auction

Borrower

M/s E K S S***** P***** L*****

Auction start

14 Oct 2026, 11:00 AM

Auction end

14 Oct 2026, 12:00 PM

EMD submission deadline

12 Oct 2026, 05:00 PM

Inspection

—

Authorised officer

—

Officer contact

—

E-auction portal

bankauctions.in (4Closure) · Listing 2404901

Price Check

This listing's reserve price works out to ₹1,197 per sq ft. The average across commercial bank auctions in Virudhunagar on our site is ₹3,044 per sq ft, so this one is 61% 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 2404901), complete KYC and get a digital signature certificate if required.
4. Pay the EMD of ₹6,66,300 before 12 Oct 2026, 05:00 PM. It is refunded if you don't win.
5. Bid online on 14 Oct 2026 starting above the reserve price, in multiples of ₹10,000.
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.