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📢 Bank E-Auction Notice: Premium 3 BHK Apartment in Madipakkam
An excellent investment opportunity to acquire a spacious, relatively new residential apartment through a bank foreclosure e-auction. Located in the highly sought-after residential hub of Madipakkam, Chennai, this property offers premium living space at a significantly discounted price.
🏢 Property Overview
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Property Name: SSS Flats
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Location: No. 300, Kuberan Nagar Extension, 10th Street, Madipakkam, Chennai
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Flat Configuration: Flat No. AF-1, First Floor (in a G+2 building structure)
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Type: 3 BHK Residential Apartment
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Age of Building: ~5 years (approx.)
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Facing: South-facing
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Possession Status: Vacant (Immediate possession post-auction clearance)
📐 Area & Specifications
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Built-up Area: 1,495 sq. ft.
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Undivided Share (UDS): 512 sq. ft.
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Road Width: Facing a 24-foot wide approach road
✨ Key Amenities & Features
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Parking: Dedicated covered car parking space
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Elevator: Lift facility available
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Prime Neighborhood: Situated in a peaceful residential pocket with excellent connectivity to the IT corridors (OMR/Velachery) and local markets.
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Nearby Landmark: Just 2.4 km from the scenic Pallikaranai Marshland Park.
💰 Financials & Auction Pricing
The property is currently being offered at a reduced price from its previous auction cycle, presenting a lucrative buying window.
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New Reserve Price: ₹90,00,000 (Reduced from ₹94,50,000)
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Earnest Money Deposit (EMD): ₹9,00,000 (10% of the reserve price)
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Bid Increment Amount: ₹50,000
🗓️ Important Auction Dates
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EMD Submission Deadline: On or before May 25, 2026
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E-Auction Date: May 26, 2026
⚠️ Strict Payment Terms
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To Participate: The EMD of ₹9,00,000 must be deposited by May 25, 2026.
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Upon Winning: 15% of the successful bid amount must be paid within 24 hours of being declared the highest bidder.
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Balance Payment: The remaining 75% of the bid amount must be cleared within 15 days.
📞 Contact & Authorized Agency
The auction is being facilitated by Chennai Asset Recovery Pvt. Ltd.
