Sathyamangalam House Auction: 3342 Sq Ft Plot with House, Erode Dist – Reserve ₹36 Lakh (13 Oct 2026)
Verified Listing Auction Closed
Property ID: FB-18
Property Description
The Sathyamangalam house auction announced by Federal Bank is one of the notable house opportunities on the bank’s current sale-notice list. This residential building on 3,342 sq ft of land sits inside Sathyamangalam town in Erode district, and the bank already holds physical possession. The online e-auction is scheduled for 13 October 2026 (11:00 AM to 12:00 PM), with a reserve price of ₹36,00,000.
The property is being sold under the SARFAESI Act, 2002 on an “as is where is, as is what is and whatever there is” basis. Below you will find the complete details from the official notice – extent, survey numbers, EMD, important dates, the bidding process and the contact details of the Authorised Officer.
Table of Contents
Table of Contents
Sathyamangalam House Auction: Key Highlights
- Reserve price: ₹36,00,000
- EMD: ₹3,60,000
- Auction date: 13 October 2026, 11:00 AM to 12:00 PM
- Last date for EMD / bid: 12 October 2026, 5:00 PM
- Location: Sathyamangalam, Erode, Tamil Nadu
Sathyamangalam House Auction – Complete Details
| Asset | 7.67 cents residential land with building, Sathyamangalam |
| Description | Residential property with building on 7.67 cents (3342 sq ft) of land |
| Land area | 7.67 Cents (3342 sq ft) |
| Survey / Plot No. | SF No. 322/1, TS No. 17/1 |
| Village | Sathyamangalam |
| Taluk | Sathyamangalam |
| District | Erode |
| Reserve price | ₹36,00,000 |
| EMD (10%) | ₹3,60,000 |
| Bid increment | ₹25,000 |
General terms of the sale as stated in the notice:
| Bank | The Federal Bank Ltd. |
| Branch / Division | Sathyamangalam |
| Mode of sale | Online e-auction |
| E-auction portal | www.bankeauctions.com |
| Type of possession | Physical possession |
| Outstanding dues | ₹85,30,150 as on 10 September 2026 |
| Encumbrances | No other encumbrance or charge reported |
| Notice date | 10 September 2026 |
About the Location – Sathyamangalam, Erode
Sathyamangalam is a market town on the Bhavani river in Erode district, on the Coimbatore–Mysuru highway (NH 948) and the gateway to the Sathyamangalam Tiger Reserve. Coimbatore is about 70 km away, while Erode and Tiruppur are within two hours. The town’s economy rests on agriculture, flowers and turmeric trade, and town-limit house plots are in steady demand among local traders and families.
Is the Sathyamangalam House Auction Worth It?
At about ₹1,077 per sq ft of land including the building, the reserve is in line with or below typical rates inside Sathyamangalam town. The bank’s outstanding dues (₹85.3 Lakh) are about 2.4 times the reserve price, so the bank is clearly motivated to close this sale. Since the reserve price is fixed by a registered valuer and often sits below market rates, early research gives you a real edge in this auction.
Important Dates for the Sathyamangalam House Auction
- Sale notice date: 10 September 2026
- Inspection: 4:00 PM to 5:00 PM on 06-10-2026
- Last date for EMD and bid submission: 12 October 2026 (5:00 PM)
- E-auction: 13 October 2026, 11:00 AM to 12:00 PM
How to Bid in This Federal Bank Auction
- Register on www.bankeauctions.com and complete KYC (PAN, Aadhaar, address proof).
- Obtain a digital signature certificate (DSC) if the service provider requires one.
- Inspect the property within the inspection window after informing the Authorised Officer.
- Pay the EMD of ₹3,60,000 by RTGS/NEFT and upload the bid form before 12 October 2026.
- Log in on 13 October 2026 and bid in multiples of the bid increment; the auction has auto-extension of 5 minutes for late bids.
The successful bidder must pay 25% immediately on acceptance, 75% within 15 days. Stamp duty, registration charges, GST/TDS where applicable and any statutory dues are borne by the buyer. If the balance is not paid in time, the deposited money is forfeited.
Due Diligence Checklist Before Bidding
- Obtain the encumbrance certificate and verify the title chain for SF No. 322/1, TS No. 17/1.
- Check pending property tax, electricity and water dues with local bodies.
- Confirm the type of possession (physical) and any occupants.
- Verify the approved plan, land use/zoning and road access on site.
- Read our buying bank auction houses and villas before you bid.
Contact the Authorised Officer
| Authorised Officer | Authorised Officer (SARFAESI Act) |
| Office | Federal Bank LCRD, Door No. 21, ML Lund Complex, Variety Hall Road, Coimbatore 641001 |
| Phone | 0422-2302992, 0422-2399750 |
| cbelcrd@federal.bank.in |
Sathyamangalam House Auction: FAQs
What is the reserve price in the Sathyamangalam house auction?
The reserve price is ₹36,00,000. Bids below this amount are not accepted.
When is the Sathyamangalam house auction scheduled?
The auction is on 13 October 2026 from 11:00 AM to 12:00 PM. EMD and bids must reach the bank by 12 October 2026.
How much EMD is required?
The earnest money deposit is ₹3,60,000, usually 10% of the reserve price. It is refunded to unsuccessful bidders without interest.
Can I get a bank loan to buy this property?
Yes, many banks finance auction properties after verifying the sale certificate and title. Arrange the sanction before bidding, since the balance 75% is due within 15 days.
Where can I see the official sale notice?
The notice is published on the Federal Bank tender and sale notices page. Always read the full notice before bidding.
More Federal Bank Auctions
- All Federal Bank auction listings
- More house auctions
- Bank auctions in Tamil Nadu
- Guide: Kerala bank auction houses guide
Source: Official sale notice published on the Federal Bank Tenders & Sale Notices page. eBankAuctions is an information platform and does not conduct auctions; details may change, so verify with the 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 Federal Bank. Interested bidders are advised to inspect the asset and verify all details before participating.”
Property Details
| Type | Independent Houses |
|---|---|
| Land Area | 7.67 Cents (3342 sq ft) |
| Location | Sathyamangalam, Erode, Tamil Nadu |
| Possession | Physical |
| Encumbrances | No other encumbrance or charge reported |
Location Map
Auction Timeline
- 10 Sep 2026Auction Notice Published
- 6 Oct 2026Inspection Ends
- 12 Oct 2026Last Date for EMD Submission
- 13 Oct 2026, 11:00 AM to 12:00 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.