Coimbatore is a serene place to live with lush greenery, amazing weather, and great connectivity. Edelweiss Asset Reconstruction Company Limited is planning to hold a SARFAESI auction for a property within the most desired area of Sowripalayam. Here’s all the information you need about the property and the auction in order to get you in with a chance of snatching up this amazing opportunity.
Auction Details
- Bank Name: Edelweiss Asset Reconstruction Company Ltd.
- IFSC Code : SBIN 0444214
- Branch Name : Retail Central & Registered Office, Mumbai
- Reserve Price : ₹ 29,00,000
- EMD : ₹ 2,90,000
- Service Provider : Edelweiss ARC
Contact Information:
Phone: 9160005011 / 01 / 09
Auction Schedule
- Type of auction : SARFAESI auction
- Auction Date and Time : 18 December 2024, 11.30 AM
- Ending Date & Time for the Auction : 18 Dec, 2024, 01:00 PM
- Last Date for Apply Online : 17-12-2024 @ 17:00:00 PM
Property Overview
Address : G2C, Door No. 115-116, Mariamman Kovil Street, Ward No. Old 115 (New 165), Coimbatore, Tamil Nadu, 641028
Key Features:
- Asset Category : Residential House
- Land Area : Total: 871 sq. size of 15, 100 sq. ft. (15 cents and 435 sq. ft. or 80.918 sq. meters)
- Structure : Includes a tiled house with doors, light fittings, service connections, drinking water connections, other essential fixtures.
- Amenities : The property comes with a couple of electric light fittings, water connection and easement rights.
Boundaries:
- North: Market of Raju Vathiyara
- South: Property of Balachandran (as mentioned in the Settlement Deed)
- East : Marimuthammal Property
- West: South-North Road
Property Measurements:
- 26 feet North to South (Western Side)
- South to North (East Side): 31.3 ft
- 3311 East to West (Northern Side): 31.9 feet
- East to West (Southern Side): 29.2 ft
Utilities and Documentation:
- Property Tax No.: 6555729
- Electric Service Connection No.: 048-006-3234
- Water Connection No.: 52200
- Location Highlights
- City/Town: Coimbatore
- Area: Sowripalayam
- Province/State: Tamil Nadu
Eauction Sale Notice of House Auction in Coimbatore by EARC
- https://drive.google.com/file/d/1VCBTRaEZweiy7zrxLhGDA9gHXleHUwbp/view?usp=sharing
Sowripalayam is one of the well-connected developing residential options along the Coimbatore with good infrastructure and facilities. This Land is located within Coimbatore Panchayat limits and hence it is very near and convenient to Schools, Hospitals and Markets.
Pros of Purchasing Auction Properties
- Affordable Prices : Auctioned properties are often sold for prices lower than the market value, which makes them a cheaper choice for both buyers and investors.
- Clarity in the process : The SARFAESI auction brings transparency in property details, price, transfer of ownership, etc.
- Prime Location : This property in Sowripalayam falls in one of the most desirable residential areas of Coimbatore.
- Investment growth potential : As a developing area, sowripalayam has the potential for the worth of the property to appreciate.
Risks to Consider
Renovation or maintenance costs become the responsibility of the buyer.
- Legal Diligence : Edelweiss ensures the property is devoid of any major disputes but it is highly advised that you do your own legal and title verification.
- Competitive Bidding : The auction process can be competitive, which may increase the final price.
How to Take Part in the Auction
Check Property Information: Review the property details and inspection setting.
- EMD : You have to submit ₹ 2,90,000 EMD (Earnest Money Deposit) to take part in the auction.
- Register : Register in the e-auction portal of Edelweiss ARC and submit all requisite KYC documents.
- Bid : Log in and place a bid during the auction period. Make sure that fits in with your financial planning.
- Settling Balance : Once the auction is won, process the payment within the set timeframe to claim the ownership.
Reasons to Select Edelweiss Asset Reconstruction Company
Edelweiss ARC which is a trusted name in the sector of asset recovery and auctions. It helps conduct auctions that are smooth, transparent and compliant with the law. Buyers can also benefit from easy access to numerous properties through their e-auction platform.
For any questions or further assistance about this property or the auction process please reach out to contact details provided.
Take this opportunity to buy a property in booming Coimbatore. If well prepared and due diligence is conducted, once in this auction will be a ticket to a dream home or a successful investment.
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