Marthandam Factory Auction: Others – Reserve ₹19.2 Lakh (16 Oct 2026)

State Bank of India has put a factory up for sale through the Marthandam factory auction, open to all registered bidders on BAANKNET. On offer is a others in Marthandam, Kanniyakumari (PIN 629165). The online auction runs on 16 October 2026 (11:00 AM to 4:00 PM) with a reserve price of ₹19,20,000.

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.

Marthandam Factory Auction: Key Highlights

• Reserve price: ₹19,20,000 (₹19.2 Lakh)
• EMD: ₹1,92,000
• Bid increment: ₹25,000
• Auction: 16 October 2026, 11:00 AM to 4:00 PM
• Last date for EMD: 16 October 2026, 3:50 PM
• Location: Marthandam, Kanniyakumari, Tamil Nadu
• Possession: Symbolic

Marthandam Factory Auction – Complete Details

Auction ID	367302
Bank property ID	SBIN200039547933
Bank	State Bank of India
Branch	Sarb Madurai
Property type	Industrial – Others
Locality	Rv Road, Kadambur Village, Kovilpatti Tk, Tuticorin-628 714
City / District	Marthandam, Kanniyakumari
State	Tamil Nadu
PIN code	629165
Type of possession	Symbolic
Type of action	Under SARFAESI
Reserve price	₹19,20,000
EMD	₹1,92,000
Bid increment	₹25,000
Auto-extension	10 minutes per late bid

About the Location – Marthandam

This listing falls in Marthandam, Kanniyakumari, Tamil Nadu, postal code 629165. 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 Sarb Madurai, which is usually the best contact for site visits and local queries.

Is the Marthandam Factory Auction Worth It?

The EMD of ₹1,92,000 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 Marthandam Factory Auction

• Inspection window: 8 October 2026, 11:00 AM to 8 October 2026, 1:00 PM
• EMD submission opens: 30 September 2026
• Last date for EMD: 16 October 2026, 3:50 PM
• E-auction: 16 October 2026, 11:00 AM to 4:00 PM
• Auto-extension: 10 minutes for every bid in the last minutes

How to Bid on BAANKNET

1. Register as a bidder on BAANKNET and complete e-KYC with PAN and Aadhaar.
2. Search for Auction ID 367302 and download the sale notice and terms.
3. Inspect the property during the inspection window by calling the branch contact on 9283449598.
4. Pay the EMD of ₹1,92,000 through the BAANKNET wallet before 16 October 2026, 3:50 PM.
5. Log in on 16 October 2026 and bid above the reserve in steps of ₹25,000; 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

• 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.

Marthandam Factory Auction: FAQs

More SBI and Tamil Nadu Auctions

• All State Bank of India auction listings
• More factory auctions
• Bank auctions in Tamil Nadu
• Guide: finance options for commercial auctions

Source: Auction ID 367302 on BAANKNET (PSB Alliance). eBankAuctions is an information platform and does not conduct auctions; details may change, so verify with State Bank of India before bidding.