Edelweiss Asset Reconstruction Company Limited (EARC) has been invited to participate in a SARFAESI of a residential property auctions in Jaipur, Rajasthan. This auction represents a great opportunity to secure a fine piece of real estate at competitive rates. Here, we break down the details — and features — of the property, as well as key auction-related information.
Property Overview
Check the Proof of EARC property auction in Jodhpur
Auction ID in Eauctions India : # 389042
Contact Information
To know more about the auction or the property, contact on :
- Contact Numbers: 9160005011 / 9160005001 / 9160005009
Location
- Address: Plot No A-196, Scheme No 24, Shiksha Vihar, Ramnagriya Road, Jagatpura, Jaipur
- Location: Jagatpura Road, Jaipur (A well-connected and fast-developing Part of Jaipur)
- Province/State: Rajasthan
- City/Town: Jaipur
Description of the Property
This is a residential flat on the first floor of a building on Plot No. A-196, Scheme No. 24, Shiksha Vihar.
- Flat Details Unit No. 103, First Floor
- Admeasuring: 1,100 square feet
- Plot Size: 500 square yards
Boundaries:
- East: Plot No. A-194
- West: Plot No. A-196
- North: Plot No. A-206
- South: 30 ft. wide road
The property is located in Jagatpura, Jaipur which is a premium area with close proximity to schools, shopping centre and also has good connectivity which makes it one of the desirable residential choices.
Original Property that EARC Auctioning in Jodhpur
- https://drive.google.com/file/d/1DpgUq75yWLSnEgXxgfW0k43EgFDnvWjr/view?usp=sharing
Auction Details
- Bank and Service Provider : Edelweiss Asset Reconstruction Company Limited
- Branch: Retail Central & Registered Office
- The service provider: Edelweiss ARC
Auction Schedule
Type of Auction: SARFAESI (Assets sale for dues recovery)
- Auction Starts: Dec. 31, 2024, 12:30 PM
- AUCTION END TIME: DEC 31, 2024 01:30 PM
- Application Deadline: December 30, 2024 by 5:00 PM
Reserve Price
- Reserve Price: ₹ 12,60,000
- Earnest Money Deposit (EMD): 1,26,000
The interested bidders are required to deposit an EMD (earnest money deposit) of 10% of the reserve price to bid in the auction.
How to Bid in the Auction
- Application Submission : The application with the EMD amount is required to reach the end date (30-12-2024 5:00 PM).
Take care that all the KYC documents and ID are put correctly in the application course.
- Inspection : Inspect the property are recommended before auction day for the purchaser.
- Online Bidding : Participate e-auction platform on 31 December, 2024 through EARC portal.
The highest bidder will be able to purchase the property as long as this price is equal to or greater than the price set by the seller (the reserve price).
Why You Should Consider Purchasing This Property
- Prime Location : Jaipur is a developing city, with an excellent development from the last decade.
- Affordable Pricing : The reserve price of ₹ 1,26,00,000/- presents prospective buyers with the possibility to acquire this property valued far below the market rate.
- Trustworthy Process : Buyers can rely on auction process as Edelweiss ARC is a reputed institution.
- Growth Potential : Properties in Jagatpura, Jaipur is increasingly becoming popular in terms of demand and property rates have continued to increase through years so these homes will make a great deal to put assets in.
Risks and Considerations
- Property Condition : Inspection prior to bidding is essential. Buyers need to pay attention for any renovations or repairs that property requires.
- Legal Issues : Edelweiss ARC attempts to provide clear titles, but buyers are advised to exercise their own due diligence to ensure that there are no encumbrances or disputes on the property.
- Payment Commitment : But the winning bidder will have to make up the rest in time. If not, the EMD will be forfeited.
- Competition : There are multiple bidders for SARFAESI auctions, in which case, the sale price will go beyond reserve price. Buyers are advised to place a max bid limit, and seeing whether they would be overbidding.
Conclusion
SARFAESI auction from Edelweiss Asset Reconstruction Company presents a golden opportunity to buy a residential flat in one of Jaipur’s location at a lower pricing.
Potential buyers who can get everything in order and do their bidding wisely can snatch this place up either as a home or an investment opportunity.
Participants who have an interest should register as soon as possible; the registration process requires a completion of the application form, along with the payment of EMD and preparations for the auction on December 31, 2024.
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