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 allow banks and Financial Institutions
(FIs) to take possession of securities and sell 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 all 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
listings
Name of the city State 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