Indian Bank Chennai Shop Auction: Shops (215 sq ft) – Reserve ₹9.67 Lakh (12 Oct 2026)
Verified Listing Auction Closed
Property ID: BKN-363295
Property Description
Looking for a shop below market price in Chennai? The Indian Bank Chennai shop auction by Indian Bank is scheduled for 12 Oct 2026. On offer is a shops in Chennai (PIN 600062), with 215 sq ft carpet area. The online auction runs on 12 October 2026 (10:00 AM to 4:00 PM) with a reserve price of ₹9,67,000.
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
Indian Bank Chennai Shop Auction: Key Highlights
- Reserve price: ₹9,67,000 (₹9.67 Lakh)
- EMD: ₹96,700
- Bid increment: ₹10,000
- Auction: 12 October 2026, 10:00 AM to 4:00 PM
- Last date for EMD: 12 October 2026, 9:00 AM
- Location: Chennai, Tamil Nadu
- Possession: Symbolic
Indian Bank Chennai Shop Auction – Complete Details
| Auction ID | 363295 |
| Bank property ID | IDIB7032018976C |
| Bank | Indian Bank |
| Branch | Maraimalainagar |
| Property type | Commercial – Shops |
| Carpet area | 215 sq ft |
| City / District | Chennai |
| State | Tamil Nadu |
| PIN code | 600062 |
| Type of possession | Symbolic |
| Type of action | Under SARFAESI |
| Reserve price | ₹9,67,000 |
| EMD | ₹96,700 |
| Bid increment | ₹10,000 |
| Auto-extension | 10 minutes per late bid |
About the Location – Chennai
The property is located in Chennai, Tamil Nadu (PIN 600062). 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 Maraimalainagar, which is usually the best contact for site visits and local queries.
Is the Indian Bank Chennai Shop Auction Worth It?
At the reserve price, the property works out to about ₹4,498 per sq ft of carpet area – compare this with recent resale rates in Chennai before you bid. The EMD of ₹96,700 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. Note that the bank holds only symbolic possession, so taking physical possession may need extra time and legal steps.
Important Dates for the Indian Bank Chennai Shop Auction
- Inspection window: 1 October 2026, 10:00 AM to 9 October 2026, 4:00 PM
- EMD submission opens: 20 September 2026
- Last date for EMD: 12 October 2026, 9:00 AM
- E-auction: 12 October 2026, 10:00 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 363295 and download the sale notice and terms.
- Inspect the property during the inspection window by calling the branch contact on 9650644114.
- Pay the EMD of ₹96,700 through the BAANKNET wallet before 12 October 2026, 9:00 AM.
- Log in on 12 October 2026 and bid above the reserve in steps of ₹10,000; 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.
Indian Bank Chennai Shop Auction: FAQs
What is the reserve price in the Indian Bank Chennai shop auction?
The reserve price is ₹9,67,000. Bids below the reserve price are not accepted.
When is the Indian Bank Chennai shop auction scheduled?
The e-auction is on 12 October 2026 from 10:00 AM to 4:00 PM. The last date for EMD is 12 October 2026, 9:00 AM.
How much EMD is required?
The earnest money deposit is ₹96,700. It is refunded to unsuccessful bidders.
Where is the property located?
It is in Chennai, Tamil Nadu – 600062.
Where can I see the official sale notice?
Search Auction ID 363295 on the BAANKNET portal of the PSB Alliance to view the sale notice and bid.
More Indian Bank and Tamil Nadu Auctions
- All Indian Bank auction listings
- More shop auctions
- Bank auctions in Tamil Nadu
- Guide: buying bank auction shops and showrooms
Source: Auction ID 363295 on BAANKNET (PSB Alliance). eBankAuctions is an information platform and does not conduct auctions; details may change, so verify with Indian Bank 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 Indian Bank. Interested bidders are advised to inspect the asset and verify all details before participating.”
Property Details
| Type | Shops & Showrooms |
|---|---|
| Land Area | 215 sq ft |
| Location | Chennai, Chennai, Tamil Nadu |
| Possession | Symbolic |
| Encumbrances | Please refer to the sale notice |
Location Map
Auction Timeline
- 20 Sep 2026Auction Notice Published
- 1 Oct 2026Inspection Starts
- 9 Oct 2026Inspection Ends
- 12 Oct 2026Last Date for EMD Submission
- 12 Oct 2026, 10:00 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.