Chincholi Midc Factory Auction: Others – Reserve ₹5.34 Cr (9 Oct 2026)
Verified Listing Auction Closed
Property ID: BKN-366737
Property Description
Bank of India has put a factory up for sale through the Chincholi Midc factory auction, open to all registered bidders on BAANKNET. On offer is a others in Chincholi Midc, Solapur (PIN 413255). The online auction runs on 9 October 2026 (11:00 AM to 5:00 PM) with a reserve price of ₹5,34,00,000.
The property is being sold under SARFAESI on an “as is where is, as is what is and whatever there is” basis. Below are the reserve price, EMD, key dates, location details, bidding steps and a due diligence checklist for this auction.
Table of Contents
Table of Contents
Chincholi Midc Factory Auction: Key Highlights
- Reserve price: ₹5,34,00,000 (₹5.34 Cr)
- EMD: ₹53,40,000
- Bid increment: ₹25,000
- Auction: 9 October 2026, 11:00 AM to 5:00 PM
- Last date for EMD: 9 October 2026, 4:00 PM
- Location: Chincholi Midc, Solapur, Maharashtra
- Possession: Physical
Chincholi Midc Factory Auction – Complete Details
| Auction ID | 366737 |
| Bank property ID | BKIDSARMPRBAGRO1 |
| Bank | Bank of India |
| Branch | Arb Mumbai |
| Property type | Industrial – Others |
| Locality | Solapur |
| City / District | Chincholi Midc, Solapur |
| State | Maharashtra |
| PIN code | 413255 |
| Type of possession | Physical |
| Type of action | Under SARFAESI |
| Reserve price | ₹5,34,00,000 |
| EMD | ₹53,40,000 |
| Bid increment | ₹25,000 |
| Auto-extension | 10 minutes per late bid |
About the Location – Chincholi Midc
The property is located in Chincholi Midc, Solapur district, Maharashtra (PIN 413255). Maharashtra is India’s largest real-estate market, led by the Mumbai Metropolitan Region, Pune and Nagpur, and backed by strong industrial corridors such as the Samruddhi Mahamarg and the Mumbai–Pune belt. The handling branch is Arb Mumbai, which is usually the best contact for site visits and local queries.
Is the Chincholi Midc Factory Auction Worth It?
The EMD of ₹53,40,000 is 10% of the reserve price and is refunded to unsuccessful bidders. The real saving in a bank auction comes after you add stamp duty, registration, pending dues and repair costs to the bid, so set a firm ceiling before the auction starts. The bank holds physical possession, which usually makes handover after the sale smoother.
Important Dates for the Chincholi Midc Factory Auction
- Inspection window: 1 October 2026, 12:00 PM to 1 October 2026, 2:00 PM
- EMD submission opens: 29 September 2026
- Last date for EMD: 9 October 2026, 4:00 PM
- E-auction: 9 October 2026, 11:00 AM to 5:00 PM
- Auto-extension: 10 minutes for every bid in the last minutes
How to Bid on BAANKNET
- Register as a bidder on BAANKNET and complete e-KYC with PAN and Aadhaar.
- Search for Auction ID 366737 and download the sale notice and terms.
- Inspect the property during the inspection window by calling the branch contact on 9096019826.
- Pay the EMD of ₹53,40,000 through the BAANKNET wallet before 9 October 2026, 4:00 PM.
- Log in on 9 October 2026 and bid above the reserve in steps of ₹25,000; each late bid extends the auction by 10 minutes.
The successful bidder usually pays 25% of the bid amount (including EMD) immediately and the balance 75% within 15 days, unless the bank states otherwise. Stamp duty, registration charges, GST/TDS where applicable and any statutory dues are borne by the buyer.
Due Diligence Checklist Before Bidding
- Check whether the plot is freehold or leasehold (MIDC/SIDCO/KIADB etc.) and the transfer charges.
- Inspect machinery, if included, and confirm the inventory.
- Verify pollution, fire and factory licence requirements.
- Check pending electricity, water and statutory dues.
- Read our warehouse and godown buying guide before you bid.
Chincholi Midc Factory Auction: FAQs
What is the reserve price in the Chincholi Midc factory auction?
The reserve price is ₹5,34,00,000. Bids below the reserve price are not accepted.
When is the Chincholi Midc factory auction scheduled?
The e-auction is on 9 October 2026 from 11:00 AM to 5:00 PM. The last date for EMD is 9 October 2026, 4:00 PM.
How much EMD is required?
The earnest money deposit is ₹53,40,000. It is refunded to unsuccessful bidders.
Where is the property located?
It is in Chincholi Midc, Solapur, Maharashtra – 413255.
Where can I see the official sale notice?
Search Auction ID 366737 on the BAANKNET portal of the PSB Alliance to view the sale notice and bid.
More BOI and Maharashtra Auctions
- All Bank of India auction listings
- More factory auctions
- Bank auctions in Maharashtra
- Guide: finance options for commercial auctions
Source: Auction ID 366737 on BAANKNET (PSB Alliance). eBankAuctions is an information platform and does not conduct auctions; details may change, so verify with Bank of India before bidding.
“The asset is being sold on “As is where is”, “As is what is” and “Whatever there is” basis through e-auction by Bank of India. Interested bidders are advised to inspect the asset and verify all details before participating.”
Property Details
| Type | Factories |
|---|---|
| Location | Chincholi Midc, Solapur, Solapur, Maharashtra |
| Possession | Physical |
| Encumbrances | Please refer to the sale notice |
Location Map
Auction Timeline
- 29 Sep 2026Auction Notice Published
- 1 Oct 2026Inspection Starts
- 1 Oct 2026Inspection Ends
- 9 Oct 2026Last Date for EMD Submission
- 9 Oct 2026, 11:00 AM to 5:00 PMe-Auction (Online Bidding)
- Post AuctionHighest Bidder Intimation
- Within Specified TimePayment & Documentation
Important Information
- The asset will be sold to the highest bidder subject to confirmation by the bank.
- Bidders must remit the EMD before the last date mentioned in the sale notice.
- The successful bidder usually pays 25% of the bid amount (including EMD) immediately and the balance within 15 days, unless the bank specifies otherwise.
- For detailed terms and conditions, please refer to the official bank sale notice.
- This is a bank e-auction and not a private sale.
- eBankAuctions is a directory platform and does not conduct the auction. Please contact the respective bank for all auction-related queries.