Gobichettipalayam House Auction: 1 BHK Individual House in Na (819.37 sq ft) – Reserve ₹18 Lakh (22 Oct 2026)
Verified Listing Auction Closed
Property ID: BKN-359398
Property Description
State Bank of India has put a house up for sale through the Gobichettipalayam house auction, open to all registered bidders on BAANKNET. On offer is a individual house in Na in Gobichettipalayam, Erode (PIN 638453), with 819.37 sq ft built-up and 819 sq ft carpet area. The online auction runs on 22 October 2026 (11:00 AM to 4:00 PM) with a reserve price of ₹18,00,000.
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
Gobichettipalayam House Auction: Key Highlights
- Reserve price: ₹18,00,000 (₹18 Lakh)
- EMD: ₹1,80,000
- Bid increment: ₹25,000
- Auction: 22 October 2026, 11:00 AM to 4:00 PM
- Last date for EMD: 22 October 2026, 3:50 PM
- Location: Gobichettipalayam, Erode, Tamil Nadu
- Possession: Physical
Gobichettipalayam House Auction – Complete Details
| Auction ID | 359398 |
| Bank property ID | SBIN10204RAJAMANIR |
| Bank | State Bank of India |
| Branch | Sarb Coimbatore |
| Property type | Residential – Individual House |
| Project / building | Na |
| Rooms | 1 BHK |
| Built-up area | 819.37 sq ft |
| Carpet area | 819 sq ft |
| Locality | Ganapathipalayam, Erode-638453 |
| City / District | Gobichettipalayam, Erode |
| State | Tamil Nadu |
| PIN code | 638453 |
| Type of possession | Physical |
| Type of action | Under SARFAESI |
| Reserve price | ₹18,00,000 |
| EMD | ₹1,80,000 |
| Bid increment | ₹25,000 |
| Auto-extension | 10 minutes per late bid |
About the Location – Gobichettipalayam
The property is located in Gobichettipalayam, Erode district, Tamil Nadu (PIN 638453). Tamil Nadu has one of India’s most urbanised economies, with Chennai, Coimbatore, Madurai and Tiruppur driving demand for residential and industrial property. The handling branch is Sarb Coimbatore, which is usually the best contact for site visits and local queries.
Is the Gobichettipalayam House Auction Worth It?
At the reserve price, the property works out to about ₹2,197 per sq ft of built-up area – compare this with recent resale rates in Gobichettipalayam before you bid. The EMD of ₹1,80,000 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 Gobichettipalayam House Auction
- Inspection window: 24 September 2026, 11:00 AM to 24 September 2026, 4:00 PM
- EMD submission opens: 10 September 2026
- Last date for EMD: 22 October 2026, 3:50 PM
- E-auction: 22 October 2026, 11:00 AM to 4:00 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 359398 and download the sale notice and terms.
- Inspect the property during the inspection window by calling the branch contact on 9445395289.
- Pay the EMD of ₹1,80,000 through the BAANKNET wallet before 22 October 2026, 3:50 PM.
- Log in on 22 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 buying bank auction houses and villas before you bid.
Gobichettipalayam House Auction: FAQs
What is the reserve price in the Gobichettipalayam house auction?
The reserve price is ₹18,00,000. Bids below the reserve price are not accepted.
When is the Gobichettipalayam house auction scheduled?
The e-auction is on 22 October 2026 from 11:00 AM to 4:00 PM. The last date for EMD is 22 October 2026, 3:50 PM.
How much EMD is required?
The earnest money deposit is ₹1,80,000. It is refunded to unsuccessful bidders.
Where is the property located?
It is in Gobichettipalayam, Erode, Tamil Nadu – 638453.
Where can I see the official sale notice?
Search Auction ID 359398 on the BAANKNET portal of the PSB Alliance to view the sale notice and bid.
More SBI and Tamil Nadu Auctions
- All State Bank of India auction listings
- More house auctions
- Bank auctions in Tamil Nadu
- Guide: symbolic vs physical possession explained
Source: Auction ID 359398 on BAANKNET (PSB Alliance). eBankAuctions is an information platform and does not conduct auctions; details may change, so verify with State 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 State Bank of India. Interested bidders are advised to inspect the asset and verify all details before participating.”
Property Details
| Type | Independent Houses |
|---|---|
| Built-up Area | 819.37 sq ft |
| Location | Gobichettipalayam, Erode, Erode, Tamil Nadu |
| Possession | Physical |
| Encumbrances | Please refer to the sale notice |
Location Map
Auction Timeline
- 10 Sep 2026Auction Notice Published
- 24 Sep 2026Inspection Starts
- 24 Sep 2026Inspection Ends
- 22 Oct 2026Last Date for EMD Submission
- 22 Oct 2026, 11:00 AM to 4:00 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.