BANK AUCTION SALE OF PROPERTIES ARE INCREASING IN INDIA.

BANK AUCTION SALE OF PROPERTIES ARE INCREASING IN INDIA.
Banks, Debt Recovery Tribunals, State Finance corporations and Asset
Reconstruction companies are auctioning their Non performing assets, i.e
housing properties, commercial properties and Industrial properties under DRT
act 1993 and SARFAESI act 2002. Bank Auction sale of such properties are
increasing in India.
The Debt Recovery Tribunals have been established by the Government of
India under an Act of Parliament (Act 51 of 1993) for expeditious adjudication
and recovery of debts due to banks and financial institutions and they are
auctioning some properties. Subsequently With an aim to provide a structured
platform to the Banking sector for managing its mounting NPA stocks and keep
pace with international financial institutions, the Securitisation and
Reconstruction of Financial Assets and Enforcement of Security Interest
(SARFAESI) Act 2002 was put in place to al ow banks and Financial Institutions
(FIs) to take possession of securities and sel them. Various Banks, State
Financial corporations , and Asset Reconstruction companies are auctioning their
Non performing assets, i.e housing properties, commercial properties and
Industrial properties under SARFAESI act 2002.
Ours is a Internet portal publishing al the Bank auction property listings
since December 2009 and we are the only one providing such information
pertaining to 32 major cities in India. We are committed to create awareness
among general public about the Bank auction procedures and to generate vibrant
market for Bank auction properties in India. The details of the possession /
Auction properties published in our internet portal for the last 15 months in 32
cities are given bellow.
For More Details Visit us @ http://www.foreclosureindia.com/

---

FORECLOSUREINDIA.COM
( A unit of M/s 4 CLOSURE, Plot No.20, Mothinagar, Hyderabad.)
No of properties for Auction /
Possessions.
Total
Name of the city
State
listings
First
Second Third
Fourth
First
From
Quarter Quarter Quarter Quarter Quarter Jan
Jan-
April-
July-
Oct
Jan-
2010 -
March
June
Sept
-Dec
March
March
2010
2010
2010
2010
2011
2011
Delhi.
DELHI
742
449
622
508
625
2946
KARNATAKA
Bangalore

2770
1602
1703
1783
1276
9134
Mumbai
MAHARASHTRA
2344
928
1078
870
598
5818
TAMIL NADU
Chennai

331
147
398
389
291
1556
ANDHRA
Hyderabad,
PRADESH
1569
790
858
989
1022
5228
WEST BENGAL
Kolkata

873
637
993
1063
859
4425
MAHARASHTR
Pune
A
188
37
216
270
162
873
Chandigarh
CHANDIGARH
960
457
392
409
355
2573
Jaipur
RAJASTHAN
49
36
75
212
59
431
UTTAR
Lucknow,
PRADESH
45
130
185
148
191
699
Ludhiana
PUNJAB
601
470
531
607
498
2707
Ahmedabad
GUJARAT
222
56
82
90
73
523
Goa
GOA
32
25
47
28
36
168
MADHYA
Indore
PRADESH
309
170
211
205
92
987
Nagpur
MAHARASHTRA
120
30
109
137
71
467
Nashik
MAHARASHTRA
346
127
186
91
65
815
Surat
GUJARAT
195
76
162
104
98
635
Vadodara
GUJARAT
191
49
72
75
65
452
Bhubaneshwar
ORISSA
241
207
346
430
266
1490
Coimbatore
TAMIL NADU
289
223
240
359
251
1362
Kochi
KERALA
228
163
184
249
193
1017
Mangalore
KARNATAKA
197
183
152
183
147
862

---

Mysore
KARNATAKA
213
132
206
223
167
941
Thiruvananthapura
m
KERALA
521
307
331
296
219
1674
ANDHRA
Vijayawada
PRADESH
455
143
164
464
485
1711
ANDHRA
Vizag
PRADESH
387
223
281
419
284
1594
Patna
Bihar



7
7
Madurai
TAMIL NADU




13
13
Total no of properties under
possessions / Auction by Banks &
financial institutions across 28 cities in
India.
14418
7797
9824
10608
8461
51108

---