Gariaband Shop Auction: Shops (3,500 sq ft) – Reserve ₹50.08 Lakh (9 Oct 2026)

Bank of India has put a shop up for sale through the Gariaband shop auction, open to all registered bidders on BAANKNET. On offer is a shops in Gariaband (PIN 493889), with 3,500 sq ft carpet area. The online auction runs on 9 October 2026 (11:00 AM to 5:00 PM) with a reserve price of ₹50,08,000.

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.

Gariaband Shop Auction: Key Highlights

• Reserve price: ₹50,08,000 (₹50.08 Lakh)
• EMD: ₹5,00,800
• Bid increment: ₹25,000
• Auction: 9 October 2026, 11:00 AM to 5:00 PM
• Last date for EMD: 9 October 2026, 4:45 PM
• Location: Gariaband, Chhattisgarh
• Possession: Symbolic

Gariaband Shop Auction – Complete Details

Auction ID	367263
Bank property ID	BKID193012324
Bank	Bank of India
Branch	Arb Raipur
Property type	Commercial – Shops
Carpet area	3,500 sq ft
Furnishing	Unfurnished
Locality	Gariabandh , Dakbangla Ward 08
City / District	Gariaband
State	Chhattisgarh
PIN code	493889
Type of possession	Symbolic
Type of action	Under SARFAESI
Reserve price	₹50,08,000
EMD	₹5,00,800
Bid increment	₹25,000
Auto-extension	10 minutes per late bid

About the Location – Gariaband

This listing falls in Gariaband, Chhattisgarh, postal code 493889. Chhattisgarh’s property demand is concentrated in Raipur, Bhilai-Durg and Bilaspur, supported by steel, power and mining industries. The handling branch is Arb Raipur, which is usually the best contact for site visits and local queries.

Is the Gariaband Shop Auction Worth It?

At the reserve price, the property works out to about ₹1,431 per sq ft of carpet area – compare this with recent resale rates in Gariaband before you bid. The EMD of ₹5,00,800 is 10% of the reserve price and is refunded to unsuccessful bidders. Bank e-auctions often close near the reserve price when there are few bidders, which is where well-prepared buyers find value. Note that the bank holds only symbolic possession, so taking physical possession may need extra time and legal steps.

Important Dates for the Gariaband Shop Auction

• Inspection window: 1 October 2026, 10:00 AM to 9 October 2026, 10:00 AM
• EMD submission opens: 30 September 2026
• Last date for EMD: 9 October 2026, 4:45 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

1. Register as a bidder on BAANKNET and complete e-KYC with PAN and Aadhaar.
2. Search for Auction ID 367263 and download the sale notice and terms.
3. Inspect the property during the inspection window by calling the branch contact on 9572802802.
4. Pay the EMD of ₹5,00,800 through the BAANKNET wallet before 9 October 2026, 4:45 PM.
5. 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

• Obtain the encumbrance certificate and verify the title.
• Check pending property tax, electricity and water dues.
• Confirm the possession status and whether the property is occupied.
• Verify the approved plan and the condition of the building.
• Read our commercial property auction guide before you bid.

Gariaband Shop Auction: FAQs

More BOI and Chhattisgarh Auctions

• All Bank of India auction listings
• More shop auctions
• Bank auctions in Chhattisgarh
• Guide: buying bank auction shops and showrooms

Source: Auction ID 367263 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.