Madurai Plot Auction: Plot – Reserve ₹23.81 Lakh (15 Oct 2026)
Verified Listing Auction Closed
Property ID: BKN-365964
Property Description
Looking for a residential plot below market price in Madurai? The Madurai plot auction by Bank of Maharashtra is scheduled for 15 Oct 2026. On offer is a plot in Madurai (PIN 625020). The online auction runs on 15 October 2026 (1:00 PM to 5:00 PM) with a reserve price of ₹23,81,400.
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
Madurai Plot Auction: Key Highlights
- Reserve price: ₹23,81,400 (₹23.81 Lakh)
- EMD: ₹2,38,140
- Bid increment: ₹25,000
- Auction: 15 October 2026, 1:00 PM to 5:00 PM
- Last date for EMD: 15 October 2026, 12:00 PM
- Location: Madurai, Tamil Nadu
- Possession: Symbolic
Madurai Plot Auction – Complete Details
| Auction ID | 365964 |
| Bank property ID | MAHBSAKTHI |
| Bank | Bank of Maharashtra |
| Branch | Madurai-Dindigul Road |
| Property type | Residential – Plot |
| City / District | Madurai |
| State | Tamil Nadu |
| PIN code | 625020 |
| Type of possession | Symbolic |
| Type of action | Under SARFAESI |
| Reserve price | ₹23,81,400 |
| EMD | ₹2,38,140 |
| Bid increment | ₹25,000 |
| Auto-extension | 5 minutes per late bid |
About the Location – Madurai
The property is located in Madurai, Tamil Nadu (PIN 625020). 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 Madurai-Dindigul Road, which is usually the best contact for site visits and local queries.
Is the Madurai Plot Auction Worth It?
The EMD of ₹2,38,140 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 Madurai Plot Auction
- Inspection window: 5 October 2026, 11:00 AM to 14 October 2026, 5:00 PM
- EMD submission opens: 27 September 2026
- Last date for EMD: 15 October 2026, 12:00 PM
- E-auction: 15 October 2026, 1:00 PM to 5:00 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 365964 and download the sale notice and terms.
- Inspect the property during the inspection window by calling the branch contact on 9442487008.
- Pay the EMD of ₹2,38,140 through the BAANKNET wallet before 15 October 2026, 12:00 PM.
- Log in on 15 October 2026 and bid above the reserve in steps of ₹25,000; 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.
Madurai Plot Auction: FAQs
What is the reserve price in the Madurai plot auction?
The reserve price is ₹23,81,400. Bids below the reserve price are not accepted.
When is the Madurai plot auction scheduled?
The e-auction is on 15 October 2026 from 1:00 PM to 5:00 PM. The last date for EMD is 15 October 2026, 12:00 PM.
How much EMD is required?
The earnest money deposit is ₹2,38,140. It is refunded to unsuccessful bidders.
Where is the property located?
It is in Madurai, Tamil Nadu – 625020.
Where can I see the official sale notice?
Search Auction ID 365964 on the BAANKNET portal of the PSB Alliance to view the sale notice and bid.
More BoM and Tamil Nadu Auctions
- All Bank of Maharashtra auction listings
- More residential plot auctions
- Bank auctions in Tamil Nadu
- Guide: reserve price bidding strategy
Source: Auction ID 365964 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 | Residential Plots |
|---|---|
| Location | Madurai, Madurai, Tamil Nadu |
| Possession | Symbolic |
| Encumbrances | Please refer to the sale notice |
Location Map
Auction Timeline
- 27 Sep 2026Auction Notice Published
- 5 Oct 2026Inspection Starts
- 14 Oct 2026Inspection Ends
- 15 Oct 2026Last Date for EMD Submission
- 15 Oct 2026, 1:00 PM to 5:00 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.