3.74 acres Agricultural Land for Auction in Usilampatti, Madurai – BOI

Property Details

Property type

Agricultural Land (Land & Agricultural)

Possession

Physical Possession

Area

3.74 acres (≈ 1,62,914 sq ft)

Reserve price / sq ft

₹14

Locality

Usilampatti

City

Madurai

State

Tamil Nadu

Pincode

625532

Address

Usilampatti, Tamil Nadu, 625532 View on map

Description (as per sale notice)

Bank & Auction Details

Bank / Lender

Bank of India

Branch

SINDUPATTI-8258

Auction type

DRT Auction

Borrower

Mr. O***

Auction start

29 Oct 2026, 11:00 AM

Auction end

29 Oct 2026, 11:30 AM

EMD submission deadline

26 Oct 2026, 05:00 PM

Inspection

—

Authorised officer

Sivaraman

Officer contact

9092450201

E-auction portal

BAANKNET (Property ID BKIDMDUSINOCH)

Price Check

This listing's reserve price works out to ₹14 per sq ft. The average across land & agricultural bank auctions in Madurai on our site is ₹2,704 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.
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 (BAANKNET (Property ID BKIDMDUSINOCH)), complete KYC and get a digital signature certificate if required.
4. Pay the EMD of — before 26 Oct 2026, 05:00 PM. It is refunded if you don't win.
5. Bid online on 29 Oct 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.