Nellore Shop Auction: 1 BHK Shops in M/S Seshi Gold (144 sq ft) – Reserve ₹72 Lakh (5 Oct 2026)
Verified Listing Auction Closed
Property ID: BKN-359012
Property Description
Here is a fresh bank e-auction worth tracking: the Nellore shop auction, offered by State Bank of India at a reserve of ₹72 Lakh. On offer is a shops in M/S Seshi Gold in Nellore, Sri Potti Sriramulu Nellore (PIN 524002), with 144 sq ft built-up and 115.2 sq ft carpet area. The online auction runs on 5 October 2026 (11:00 AM to 4:00 PM) with a reserve price of ₹72,00,000.
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
Nellore Shop Auction: Key Highlights
- Reserve price: ₹72,00,000 (₹72 Lakh)
- EMD: ₹7,20,000
- Bid increment: ₹10,000
- Auction: 5 October 2026, 11:00 AM to 4:00 PM
- Last date for EMD: 5 October 2026, 3:59 PM
- Location: Nellore, Sri Potti Sriramulu Nellore, Andhra Pradesh
- Possession: Physical
Nellore Shop Auction – Complete Details
| Auction ID | 359012 |
| Bank property ID | SBIN77824933745 |
| Bank | State Bank of India |
| Branch | Sarb Vijayawada |
| Property type | Commercial – Shops |
| Project / building | M/S Seshi Gold |
| Rooms | 1 BHK |
| Built-up area | 144 sq ft |
| Carpet area | 115.2 sq ft |
| Locality | Nellore |
| City / District | Nellore, Sri Potti Sriramulu Nellore |
| State | Andhra Pradesh |
| PIN code | 524002 |
| Type of possession | Physical |
| Type of action | Under SARFAESI |
| Reserve price | ₹72,00,000 |
| EMD | ₹7,20,000 |
| Bid increment | ₹10,000 |
| Auto-extension | 5 minutes per late bid |
About the Location – Nellore
This listing falls in Nellore, Sri Potti Sriramulu Nellore, Andhra Pradesh, postal code 524002. Andhra Pradesh’s property market is led by Visakhapatnam, Vijayawada, Guntur and Tirupati, with port-led and highway-led growth across the coastal districts. The handling branch is Sarb Vijayawada, which is usually the best contact for site visits and local queries.
Is the Nellore Shop Auction Worth It?
At the reserve price, the property works out to about ₹50,000 per sq ft of built-up area – compare this with recent resale rates in Nellore before you bid. The EMD of ₹7,20,000 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. The bank holds physical possession, which usually makes handover after the sale smoother.
Important Dates for the Nellore Shop Auction
- Inspection window: 17 September 2026, 11:00 AM to 4 October 2026, 4:45 PM
- EMD submission opens: 16 September 2026
- Last date for EMD: 5 October 2026, 3:59 PM
- E-auction: 5 October 2026, 11:00 AM to 4:00 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 359012 and download the sale notice and terms.
- Inspect the property during the inspection window by calling the branch contact on 8886640777.
- Pay the EMD of ₹7,20,000 through the BAANKNET wallet before 5 October 2026, 3:59 PM.
- Log in on 5 October 2026 and bid above the reserve in steps of ₹10,000; 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.
- 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.
Nellore Shop Auction: FAQs
What is the reserve price in the Nellore shop auction?
The reserve price is ₹72,00,000. Bids below the reserve price are not accepted.
When is the Nellore shop auction scheduled?
The e-auction is on 5 October 2026 from 11:00 AM to 4:00 PM. The last date for EMD is 5 October 2026, 3:59 PM.
How much EMD is required?
The earnest money deposit is ₹7,20,000. It is refunded to unsuccessful bidders.
Where is the property located?
It is in Nellore, Sri Potti Sriramulu Nellore, Andhra Pradesh – 524002.
Where can I see the official sale notice?
Search Auction ID 359012 on the BAANKNET portal of the PSB Alliance to view the sale notice and bid.
More SBI and Andhra Pradesh Auctions
- All State Bank of India auction listings
- More shop auctions
- Bank auctions in Andhra Pradesh
- Guide: buying bank auction shops and showrooms
Source: Auction ID 359012 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.
“The asset is being sold on “As is where is”, “As is what is” and “Whatever there is” basis through e-auction by State Bank of India. Interested bidders are advised to inspect the asset and verify all details before participating.”
Property Details
| Type | Shops & Showrooms |
|---|---|
| Built-up Area | 144 sq ft |
| Location | Nellore, Sri Potti Sriramulu Nellore, Sri Potti Sriramulu Nellore, Andhra Pradesh |
| Possession | Physical |
| Encumbrances | Please refer to the sale notice |
Location Map
Auction Timeline
- 16 Sep 2026Auction Notice Published
- 17 Sep 2026Inspection Starts
- 4 Oct 2026Inspection Ends
- 5 Oct 2026Last Date for EMD Submission
- 5 Oct 2026, 11:00 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.