IOB Karad Flat Auction: Flat in Shivam Residency (53.37 sq ft) – Reserve ₹8.8 Lakh (20 Oct 2026)
Verified Listing Auction Closed
Property ID: BKN-367917
Property Description
Here is a fresh bank e-auction worth tracking: the IOB Karad flat auction, offered by Indian Overseas Bank at a reserve of ₹8.8 Lakh. On offer is a flat in Shivam Residency in Karad, Satara (PIN 415539), with 53.37 sq ft built-up and 41.57 sq ft carpet area. The online auction runs on 20 October 2026 (11:00 AM to 3:00 PM) with a reserve price of ₹8,80,000.
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
IOB Karad Flat Auction: Key Highlights
- Reserve price: ₹8,80,000 (₹8.8 Lakh)
- EMD: ₹88,000
- Bid increment: ₹10,000
- Auction: 20 October 2026, 11:00 AM to 3:00 PM
- Last date for EMD: 19 October 2026, 6:00 PM
- Location: Karad, Satara, Maharashtra
- Possession: Symbolic
IOB Karad Flat Auction – Complete Details
| Auction ID | 367917 |
| Bank property ID | IOBARAJENDRAKUMAR |
| Bank | Indian Overseas Bank |
| Branch | Karad |
| Property type | Residential – Flat |
| Project / building | Shivam Residency |
| Built-up area | 53.37 sq ft |
| Carpet area | 41.57 sq ft |
| City / District | Karad, Satara |
| State | Maharashtra |
| PIN code | 415539 |
| Type of possession | Symbolic |
| Type of action | Under SARFAESI |
| Reserve price | ₹8,80,000 |
| EMD | ₹88,000 |
| Bid increment | ₹10,000 |
| Auto-extension | 10 minutes per late bid |
About the Location – Karad
This listing falls in Karad, Satara, Maharashtra, postal code 415539. 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 Karad, which is usually the best contact for site visits and local queries.
Is the IOB Karad Flat Auction Worth It?
At the reserve price, the property works out to about ₹16,489 per sq ft of built-up area – compare this with recent resale rates in Karad before you bid. The EMD of ₹88,000 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 IOB Karad Flat Auction
- Inspection window: 14 October 2026, 11:00 AM to 18 October 2026, 3:00 PM
- EMD submission opens: 1 October 2026
- Last date for EMD: 19 October 2026, 6:00 PM
- E-auction: 20 October 2026, 11:00 AM to 3:00 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 367917 and download the sale notice and terms.
- Inspect the property during the inspection window by calling the branch contact on 9922924344.
- Pay the EMD of ₹88,000 through the BAANKNET wallet before 19 October 2026, 6:00 PM.
- Log in on 20 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
- Verify the title documents and the society or builder NOC.
- Check pending maintenance, property tax and utility dues.
- Confirm the possession status and whether the flat is occupied.
- Check the approved plan and occupancy certificate for the building.
- Read our tips for buying bank auction flats before you bid.
IOB Karad Flat Auction: FAQs
What is the reserve price in the IOB Karad flat auction?
The reserve price is ₹8,80,000. Bids below the reserve price are not accepted.
When is the IOB Karad flat auction scheduled?
The e-auction is on 20 October 2026 from 11:00 AM to 3:00 PM. The last date for EMD is 19 October 2026, 6:00 PM.
How much EMD is required?
The earnest money deposit is ₹88,000. It is refunded to unsuccessful bidders.
Where is the property located?
It is in Karad, Satara, Maharashtra – 415539.
Where can I see the official sale notice?
Search Auction ID 367917 on the BAANKNET portal of the PSB Alliance to view the sale notice and bid.
More IOB and Maharashtra Auctions
- All Indian Overseas Bank auction listings
- More flat auctions
- Bank auctions in Maharashtra
- Guide: home loan for auction property
Source: Auction ID 367917 on BAANKNET (PSB Alliance). eBankAuctions is an information platform and does not conduct auctions; details may change, so verify with Indian Overseas 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 Overseas Bank. Interested bidders are advised to inspect the asset and verify all details before participating.”
Property Details
| Type | Flats & Apartments |
|---|---|
| Built-up Area | 53.37 sq ft |
| Location | Karad, Satara, Satara, Maharashtra |
| Possession | Symbolic |
| Encumbrances | Please refer to the sale notice |
Location Map
Auction Timeline
- 1 Oct 2026Auction Notice Published
- 14 Oct 2026Inspection Starts
- 18 Oct 2026Inspection Ends
- 19 Oct 2026Last Date for EMD Submission
- 20 Oct 2026, 11:00 AM to 3:00 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.