Commercial property in Palavansathu, Vellore: Axis Bank auction

The reserve is ₹2,64,00,000 and the earnest-money deposit (EMD) is ₹26,40,000. The published submission deadline is 12 Nov 2026, 5:00 PM IST. The online auction is a separate event; follow the notice’s payment and document instructions.

Submit the complete offer, EMD by demand draft or pay order, a participation request, self-attested identity and address proof, PAN, a valid email address and contact details by 12 November 2026, 5:00 PM IST.

The schedule names Legal Team, second floor, Door 31 (old 14), South Mada Street, Mylapore, Chennai 600004 as the receiving office. The bid form costs ₹250.

The instrument is payable at Chennai; confirm the exact payee wording in the bank’s original. Axis checks eligibility and PAN before platform credentials are issued.

Registration or an EMD payment alone does not establish eligibility; any property-specific transfer/use restriction must be confirmed with the authorised officer.

The lender’s sale notice says it has taken physical possession. The notice gives this inspection window and permits another date by prior appointment. Arrange access with Axis; the dated appointment does not itself guarantee access. Ask Axis Bank’s authorised officer before you pay the EMD.

Pay 25% of the accepted bid, including EMD, no later than the next working day after bid confirmation. Pay the remaining 75% within 15 days of sale confirmation.

Default can forfeit the EMD or all amounts paid, lead to resale and make the defaulting buyer liable for resale costs. Unsuccessful EMD is to be returned within seven working days after auction, without interest; the notice excludes interest even if repayment is delayed.

The notice requires the 25% payment by demand draft payable at Chennai. The EMD clause says Chennai, but clause 19 says the 25% draft is payable at Madurai; obtain clarification before payment.

The buyer must ascertain and bear property tax, maintenance, electricity, water/service and other statutory or local dues, and pay stamp duty, registration, transfer fees and applicable taxes. The notice’s statement about known encumbrances is not an independent title or no-dues certificate.

The shared four-property notice discloses an approximately ₹40 lakh GST attachment on the properties, without allocating it to each asset. Obtain the attachment record and release/dues position before bidding.

The sale is on an as-is basis without recourse. Inspect title, dimensions, access, occupancy and local transfer/use permissions before bidding.

The bank does not obtain permissions for the buyer; bids cannot be withdrawn after acceptance, and the sale remains subject to bank confirmation. The bank may amend, postpone, cancel or reject offers.

Physical possession stated by the bank is not a guarantee of vacant delivery.

The schedule names augeo.samil.in. Bids increase by ₹50,000; late bids extend the scheduled close in five-minute periods without a stated limit.

The notice requires bids above reserve, although another clause says the property cannot be sold below reserve. Clause 5 also mentions bankeauctions.com alongside AUGEO; confirm the venue before registering.