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Residential Plot SARFAESI Auction Symbolic Possession

18,041 sq feet Residential Plot for Auction in Ellandaikuttai, Namakkal – IOB

Ellandaikuttai, Namakkal, Tamil Nadu · Auction ID #93703

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Residential Plot for auction in Ellandaikuttai, Namakkal – IOB – photo 1
Reserve Price ₹2,29,15,000 6.7% lower than previous auction (₹2.45 Cr)
EMD (Earnest Money)—
Bid Increment—
Auction Date 11 Nov 2026, 10:30 AM
EMD Last Date 10 Nov 2026, 10:00 PM
Area18,041 sq feet
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Property Details

Property type
Residential Plot (Residential)
Possession
Symbolic Possession
Area
18,041 sq feet (≈ 18,041 sq ft)
Reserve price / sq ft
₹1,270
Locality
Ellandaikuttai
Pincode
638008
Address
Ellandaikuttai, Tamil Nadu, 638008 View on map

Description (as per sale notice)

Vacant land with extent of 18041 Sq. Ft. at Pymash No. 187 (Pacharsanthar Boomi), Door No.4, 447/1, 4, 447/2 to 5, SF No. 168/3, R S No. 168/3B2, Ward No.2, Kumaran Nagar, Opposite to Jayalakshmi Theatre, Pallipalayam to Kumarapalayam Main Road, Kumarapalayam Taluk, Namakkal-638008, in the name of Mr. M P Sakthivel, S/o Mr. K M Panneerselvam and Mrs. R Subha, W/o Mr. K M Panneerselvam. Item:1: Property belongs to Mr. M P Sakthivel An extent of 8485 Sq. FT. of land situate within the following boundaries: North of: 30 Links width east-west cart track East of : Property belongs to Mrs. R Subha South of: Orakuli Kadu West of : Property belongs to Mrs. P Rajamani Measuring East west on the North side 67’8’’ East west on the South side 70’6’’ North south on the east side 115’ North south on the west side 130’6’’ Item:2: Property belongs to Mrs. R Subha An extent of 9556 Sq. FT. of land situate within the following boundaries: North of: 30 Links width east-west cart track East of : Mrs. Rajamani property South of: Orakuli Kadu West of : Property belongs to Mr. M P Sakthivel Measuring East west on the North side 67’8’’ East west on the South side 70’6’’ North south on the east side 130’6 North south on the west side 146’ The item No. 1 & 2 property totally to the extent of 18041 Sq. Ft. with entire super structures therein with accessories situated within ward no. 4 of Pallipalayam Agraharam Village Panchayat bearing Door No.4-447, 4-447/2, 3, 4, 5, 6, 7 & 8.

BAANKNET Property ID: IOBARAKSHITHA02
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Bank & Auction Details

Branch
SPECIALISED ARM BRANCH, COIMBATORE-1551
Auction type
SARFAESI Auction
Borrower
Rakshitha T*****
Auction start
11 Nov 2026, 10:30 AM
Auction end
11 Nov 2026, 01:30 PM
EMD submission deadline
10 Nov 2026, 10:00 PM
Inspection
14 Oct 2026, 10:00 AM – 10 Nov 2026, 06:25 PM
Authorised officer
Mukesh Kumar
Officer contact
7890715331
E-auction portal
BAANKNET (Property ID IOBARAKSHITHA02)
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Price Check

This listing's reserve price works out to ₹1,270 per sq ft. The average across residential bank auctions in Namakkal on our site is ₹2,563 per sq ft, so this one is 50% 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.

Previous Auctions of This Property

Auction dateReserve price
11 Nov 2026₹2,29,15,000This auction
09 Oct 2026₹2,45,47,000View

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 14 Oct 2026 and check the title, society/municipal dues and occupancy.
  3. Register on the e-auction portal (BAANKNET (Property ID IOBARAKSHITHA02)), complete KYC and get a digital signature certificate if required.
  4. Pay the EMD of — before 10 Nov 2026, 10:00 PM. It is refunded if you don't win.
  5. Bid online on 11 Nov 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.

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Information on this page is taken from the public auction notice and may contain errors or change. AuctionKhoj is not the auctioneer and is not affiliated with Indian Overseas Bank. Always verify every detail with the official notice and the authorised officer before paying any money.

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