Ichhawar Commercial Plot Auction: Plot (10,998 sq ft) – Reserve ₹6.7 Lakh (15 Oct 2026)
Verified Listing Auction Closed
Property ID: BKN-365301
Property Description
The Ichhawar commercial plot auction listed by Bank of Maharashtra on the BAANKNET e-auction portal is one of the upcoming commercial plot opportunities in Madhya Pradesh. On offer is a plot in Ichhawar, Sehore (PIN 466115), with 10,998 sq ft built-up. The online auction runs on 15 October 2026 (11:00 AM to 2:00 PM) with a reserve price of ₹6,70,000.
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
Ichhawar Commercial Plot Auction: Key Highlights
- Reserve price: ₹6,70,000 (₹6.7 Lakh)
- EMD: ₹67,000
- Bid increment: ₹10,000
- Auction: 15 October 2026, 11:00 AM to 2:00 PM
- Last date for EMD: 15 October 2026, 10:00 AM
- Location: Ichhawar, Sehore, Madhya Pradesh
- Possession: Symbolic
Ichhawar Commercial Plot Auction – Complete Details
| Auction ID | 365301 |
| Bank property ID | MAHB40238124542 |
| Bank | Bank of Maharashtra |
| Branch | Diwadia |
| Property type | Commercial – Plot |
| Built-up area | 10,998 sq ft |
| Locality | Samsan Road, Village Himmatpura, Tehsil-Ichhawar, District – Sehore, |
| City / District | Ichhawar, Sehore |
| State | Madhya Pradesh |
| PIN code | 466115 |
| Type of possession | Symbolic |
| Type of action | Under SARFAESI |
| Reserve price | ₹6,70,000 |
| EMD | ₹67,000 |
| Bid increment | ₹10,000 |
| Auto-extension | 5 minutes per late bid |
About the Location – Ichhawar
Ichhawar is in Sehore district of Madhya Pradesh, under PIN code 466115. Madhya Pradesh offers affordable real estate in Indore, Bhopal, Jabalpur and Gwalior, with Indore in particular known for clean, well-planned growth. The handling branch is Diwadia, which is usually the best contact for site visits and local queries.
Is the Ichhawar Commercial Plot Auction Worth It?
At the reserve price, the property works out to about ₹61 per sq ft of built-up area – compare this with recent resale rates in Ichhawar before you bid. The EMD of ₹67,000 is 10% of the reserve price and is refunded to unsuccessful bidders. Because the reserve price is fixed from a registered valuer’s report, it is often below the market rate – but factor in transfer costs and any dues before deciding your maximum bid. Note that the bank holds only symbolic possession, so taking physical possession may need extra time and legal steps.
Important Dates for the Ichhawar Commercial Plot Auction
- Inspection window: 5 October 2026, 10:00 AM to 8 October 2026, 4:00 PM
- EMD submission opens: 25 September 2026
- Last date for EMD: 15 October 2026, 10:00 AM
- E-auction: 15 October 2026, 11:00 AM to 2:00 PM
- Auto-extension: 5 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 365301 and download the sale notice and terms.
- Inspect the property during the inspection window by calling the branch contact on 8308897978.
- Pay the EMD of ₹67,000 through the BAANKNET wallet before 15 October 2026, 10:00 AM.
- Log in on 15 October 2026 and bid above the reserve in steps of ₹10,000; each late bid extends the auction by 5 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 chain.
- Confirm land use or zoning and road access on site.
- Check the survey sketch, boundaries and any encroachment.
- Verify that property tax and other local dues are clear.
- Read our auction property due diligence checklist before you bid.
Ichhawar Commercial Plot Auction: FAQs
What is the reserve price in the Ichhawar commercial plot auction?
The reserve price is ₹6,70,000. Bids below the reserve price are not accepted.
When is the Ichhawar commercial plot auction scheduled?
The e-auction is on 15 October 2026 from 11:00 AM to 2:00 PM. The last date for EMD is 15 October 2026, 10:00 AM.
How much EMD is required?
The earnest money deposit is ₹67,000. It is refunded to unsuccessful bidders.
Where is the property located?
It is in Ichhawar, Sehore, Madhya Pradesh – 466115.
Where can I see the official sale notice?
Search Auction ID 365301 on the BAANKNET portal of the PSB Alliance to view the sale notice and bid.
More BoM and Madhya Pradesh Auctions
- All Bank of Maharashtra auction listings
- More commercial plot auctions
- Bank auctions in Madhya Pradesh
- Guide: reserve price bidding strategy
Source: Auction ID 365301 on BAANKNET (PSB Alliance). eBankAuctions is an information platform and does not conduct auctions; details may change, so verify with Bank of Maharashtra 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 Maharashtra. Interested bidders are advised to inspect the asset and verify all details before participating.”
Property Details
| Type | Commercial Land |
|---|---|
| Built-up Area | 10998 sq ft |
| Location | Ichhawar, Sehore, Sehore, Madhya Pradesh |
| Possession | Symbolic |
| Encumbrances | Please refer to the sale notice |
Location Map
Auction Timeline
- 25 Sep 2026Auction Notice Published
- 5 Oct 2026Inspection Starts
- 8 Oct 2026Inspection Ends
- 15 Oct 2026Last Date for EMD Submission
- 15 Oct 2026, 11:00 AM to 2:00 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.