Ongole Commercial Plot Auction: Plot – Reserve ₹14.18 Lakh (6 Oct 2026)
Verified Listing Auction Closed
Property ID: BKN-358642
Property Description
Here is a fresh bank e-auction worth tracking: the Ongole commercial plot auction, offered by Punjab National Bank at a reserve of ₹14.18 Lakh. On offer is a plot in Ongole, Prakasam (PIN 523002). The online auction runs on 6 October 2026 (11:00 AM to 4:00 PM) with a reserve price of ₹14,18,000.
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
Ongole Commercial Plot Auction: Key Highlights
- Reserve price: ₹14,18,000 (₹14.18 Lakh)
- EMD: ₹1,41,800
- Bid increment: ₹10,000
- Auction: 6 October 2026, 11:00 AM to 4:00 PM
- Last date for EMD: 6 October 2026, 4:00 PM
- Location: Ongole, Prakasam, Andhra Pradesh
- Possession: Symbolic
Ongole Commercial Plot Auction – Complete Details
| Auction ID | 358642 |
| Bank property ID | PUNBKVA10563374 |
| Bank | Punjab National Bank |
| Branch | Armb Vijaywada833200 |
| Property type | Commercial – Plot |
| City / District | Ongole, Prakasam |
| State | Andhra Pradesh |
| PIN code | 523002 |
| Type of possession | Symbolic |
| Type of action | Under SARFAESI |
| Reserve price | ₹14,18,000 |
| EMD | ₹1,41,800 |
| Bid increment | ₹10,000 |
| Auto-extension | 30 minutes per late bid |
About the Location – Ongole
Ongole is in Prakasam district of Andhra Pradesh, under PIN code 523002. 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 Armb Vijaywada833200, which is usually the best contact for site visits and local queries.
Is the Ongole Commercial Plot Auction Worth It?
The EMD of ₹1,41,800 is 10% of the reserve price and is refunded to unsuccessful bidders. Because the reserve price is fixed from a registered valuer’s report, it is often below the market rate – but factor in transfer costs and any dues before deciding your maximum bid. Note that the bank holds only symbolic possession, so taking physical possession may need extra time and legal steps.
Important Dates for the Ongole Commercial Plot Auction
- EMD submission opens: 10 September 2026
- Last date for EMD: 6 October 2026, 4:00 PM
- E-auction: 6 October 2026, 11:00 AM to 4:00 PM
- Auto-extension: 30 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 358642 and download the sale notice and terms.
- Inspect the property during the inspection window by calling the branch contact on 9840037314.
- Pay the EMD of ₹1,41,800 through the BAANKNET wallet before 6 October 2026, 4:00 PM.
- Log in on 6 October 2026 and bid above the reserve in steps of ₹10,000; each late bid extends the auction by 30 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.
Ongole Commercial Plot Auction: FAQs
What is the reserve price in the Ongole commercial plot auction?
The reserve price is ₹14,18,000. Bids below the reserve price are not accepted.
When is the Ongole commercial plot auction scheduled?
The e-auction is on 6 October 2026 from 11:00 AM to 4:00 PM. The last date for EMD is 6 October 2026, 4:00 PM.
How much EMD is required?
The earnest money deposit is ₹1,41,800. It is refunded to unsuccessful bidders.
Where is the property located?
It is in Ongole, Prakasam, Andhra Pradesh – 523002.
Where can I see the official sale notice?
Search Auction ID 358642 on the BAANKNET portal of the PSB Alliance to view the sale notice and bid.
More PNB and Andhra Pradesh Auctions
- All Punjab National Bank auction listings
- More commercial plot auctions
- Bank auctions in Andhra Pradesh
- Guide: reserve price bidding strategy
Source: Auction ID 358642 on BAANKNET (PSB Alliance). eBankAuctions is an information platform and does not conduct auctions; details may change, so verify with Punjab National 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 Punjab National Bank. Interested bidders are advised to inspect the asset and verify all details before participating.”
Property Details
| Type | Commercial Land |
|---|---|
| Location | Ongole, Prakasam, Prakasam, Andhra Pradesh |
| Possession | Symbolic |
| Encumbrances | Please refer to the sale notice |
Location Map
Auction Timeline
- 10 Sep 2026Auction Notice Published
- 6 Oct 2026Last Date for EMD Submission
- 6 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.