Komarapalayam Hitech Weaving Park Factory Auction: Industrial Plot with Factory Building (7,000 sq ft) – Reserve ₹1.31 Cr (27 Oct 2026)
Verified Listing Auction Closed
Property ID: BKN-367224
Property Description
Canara Bank has put a factory up for sale through the Komarapalayam Hitech Weaving Park factory auction, open to all registered bidders on BAANKNET. On offer is a industrial plot with factory building in Komarapalayam Hitech Weaving Park, Namakkal (PIN 638183), with 7,000 sq ft carpet area. The online auction runs on 27 October 2026 (12:30 PM to 1:30 PM) with a reserve price of ₹1,31,31,000.
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
Komarapalayam Hitech Weaving Park Factory Auction: Key Highlights
- Reserve price: ₹1,31,31,000 (₹1.31 Cr)
- EMD: ₹13,13,100
- Bid increment: ₹1,00,000
- Auction: 27 October 2026, 12:30 PM to 1:30 PM
- Last date for EMD: 26 October 2026, 4:00 PM
- Location: Komarapalayam Hitech Weaving Park, Namakkal, Tamil Nadu
- Possession: Symbolic
Komarapalayam Hitech Weaving Park Factory Auction – Complete Details
| Auction ID | 367224 |
| Bank property ID | CNRBFIRSTMAGEERODE |
| Bank | Canara Bank |
| Branch | Specialised Arm Branch, Tiruchirappalli |
| Property type | Industrial – Industrial Plot with Factory Building |
| Carpet area | 7,000 sq ft |
| City / District | Komarapalayam Hitech Weaving Park, Namakkal |
| State | Tamil Nadu |
| PIN code | 638183 |
| Type of possession | Symbolic |
| Type of action | Under SARFAESI |
| Reserve price | ₹1,31,31,000 |
| EMD | ₹13,13,100 |
| Bid increment | ₹1,00,000 |
| Auto-extension | 5 minutes per late bid |
About the Location – Komarapalayam Hitech Weaving Park
The property is located in Komarapalayam Hitech Weaving Park, Namakkal district, Tamil Nadu (PIN 638183). 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 Specialised Arm Branch, Tiruchirappalli, which is usually the best contact for site visits and local queries.
Is the Komarapalayam Hitech Weaving Park Factory Auction Worth It?
At the reserve price, the property works out to about ₹1,876 per sq ft of carpet area – compare this with recent resale rates in Komarapalayam Hitech Weaving Park before you bid. The EMD of ₹13,13,100 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 Komarapalayam Hitech Weaving Park Factory Auction
- EMD submission opens: 1 October 2026
- Last date for EMD: 26 October 2026, 4:00 PM
- E-auction: 27 October 2026, 12:30 PM to 1:30 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 367224 and download the sale notice and terms.
- Inspect the property during the inspection window by calling the branch contact on 9751432017.
- Pay the EMD of ₹13,13,100 through the BAANKNET wallet before 26 October 2026, 4:00 PM.
- Log in on 27 October 2026 and bid above the reserve in steps of ₹1,00,000; 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
- Check whether the plot is freehold or leasehold (MIDC/SIDCO/KIADB etc.) and the transfer charges.
- Inspect machinery, if included, and confirm the inventory.
- Verify pollution, fire and factory licence requirements.
- Check pending electricity, water and statutory dues.
- Read our warehouse and godown buying guide before you bid.
Komarapalayam Hitech Weaving Park Factory Auction: FAQs
What is the reserve price in the Komarapalayam Hitech Weaving Park factory auction?
The reserve price is ₹1,31,31,000. Bids below the reserve price are not accepted.
When is the Komarapalayam Hitech Weaving Park factory auction scheduled?
The e-auction is on 27 October 2026 from 12:30 PM to 1:30 PM. The last date for EMD is 26 October 2026, 4:00 PM.
How much EMD is required?
The earnest money deposit is ₹13,13,100. It is refunded to unsuccessful bidders.
Where is the property located?
It is in Komarapalayam Hitech Weaving Park, Namakkal, Tamil Nadu – 638183.
Where can I see the official sale notice?
Search Auction ID 367224 on the BAANKNET portal of the PSB Alliance to view the sale notice and bid.
More Canara Bank and Tamil Nadu Auctions
- All Canara Bank auction listings
- More factory auctions
- Bank auctions in Tamil Nadu
- Guide: finance options for commercial auctions
Source: Auction ID 367224 on BAANKNET (PSB Alliance). eBankAuctions is an information platform and does not conduct auctions; details may change, so verify with Canara 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 Canara Bank. Interested bidders are advised to inspect the asset and verify all details before participating.”
Property Details
| Type | Factories |
|---|---|
| Land Area | 7000 sq ft |
| Location | Komarapalayam Hitech Weaving Park, Namakkal, Namakkal, Tamil Nadu |
| Possession | Symbolic |
| Encumbrances | Please refer to the sale notice |
Location Map
Auction Timeline
- 1 Oct 2026Auction Notice Published
- 26 Oct 2026Last Date for EMD Submission
- 27 Oct 2026, 12:30 PM to 1:30 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.