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State Bank of India, Stressed Assets Recovery Branch, Mumbai

Flat, 5th floor, 139.41 sq m built-up

Flat No. 501, 5th floor, Prachi Enclave Co-op Housing Society, 150 ft road, Bhayander West, Thane 401101, India · Residential

Auction reserve price
₹1.62 crore
Indicative market value
Not established
Evidence confidence
Not established
Risk status
Manageable under conditions

Is this property worth considering?

Requires investigation

Physical possession is already with the bank, which removes the commonest Indian auction trap. No valuation range can be established from registered sales; title, dues and any tribunal challenge are the buyer's own enquiry.

Preliminary assessment drafted with software and fact-checked by the NITARYA research team on 27 October 2026. Not yet reviewed by a partner.

1Why is this property being sold?

State Bank of India, Stressed Assets Recovery Branch, Mumbai is selling under the SARFAESI Act 2002, Security Interest (Enforcement) Rules 2002, rules 8(6) and 9(1); demand notice 2023-09-27. Notice dated 2026-10-23; e-auction on 2026-11-17 on BAANKNET (PSB Alliance).

Evidence
2Can I legally purchase it?Check

Indian citizens and NRIs may buy and bid. A foreign national not of Indian origin cannot buy immovable property in India without Reserve Bank permission; OCI card holders should confirm the bank's own terms. The bidder registers on the e-auction platform with KYC and the deposit in the wallet.

Check for me: passport and residence

Evidence
3Is the reserve price attractive?Not established

The reserve is ₹1.62 crore. India has no public register of completed sales at scale, so no independent valuation range is established for this property yet and no discount is claimed. Asking prices for similar units nearby are the next step, labelled as asking prices.

Evidence
4What could go wrong?

Possession: physical, with the bank. Encumbrances: No encumbrances advised to the bank; bidders to make their own enquiries; sold as is where is. Litigation: None (notice item 14). Dues to the society, the municipality and utilities pass to the buyer.

Evidence
5What will it actually cost?

Deposit ₹16.20 lakh before the auction; 25% of the sale price (less EMD) on the same day or the next working day; the balance 75% within 15 days of confirmation, extendable in writing to three months. Purchaser pays stamp duty, registration and all dues; 1% TDS above Rs 50 lakh. Starting assumption for buying costs: stamp duty and registration of about 7%, so a purchase at the reserve costs about ₹1.73 crore before any arrears. Bids rise in steps of ₹0.50 lakh.

Evidence
6What returns are realistically possible?

No rental evidence has been filed for this property; no return is estimated and no growth is assumed.

Evidence
  • Rental evidence: none
7Who is this investment suitable for?

A resident Indian or NRI buyer with the full price available within 15 days of confirmation, able to carry unknown society dues and a title search of their own.

Evidence
  • A reading of the facts above, not advice
8What should I verify before bidding?

Title search and encumbrance certificate for 30 years at the sub-registrar; society dues and property tax arrears; whether a challenge under section 17 of the SARFAESI Act or a stay is pending before the Debts Recovery Tribunal; the state of possession on the ground at the inspection; the bank's own terms on the e-auction platform.

Evidence
  • Standard list for India
9What would make this investment unattractive?

A pending challenge or stay; occupied possession with no timetable; arrears above any price advantage; a reserve at or above asking prices once comparables are filed.

Evidence
  • Conditions that invalidate the preliminary view
10What should I do next?

Obtain professional due diligence before any bid: the title search, the society statement and the Debts Recovery Tribunal check. The price cannot be judged until asking-price comparables are filed.

Evidence
  • One of the five actions

NITARYA Investment Thesis

Requires investigation

The opportunity

Reserve ₹1.62 crore; no independent valuation is possible on the evidence held.

The valuation

Not established: India has no public register of completed sales at scale; asking-price evidence is to be filed and labelled as such.

The risks

Possession physical with the bank; title, dues and condition unknown; litigation None (notice item 14); execution terms known.

The investor

Resident Indians and NRIs; others need Reserve Bank permission.

The conditions

Title search and encumbrance certificate; society statement; DRT check; inspection; maximum bid set from the calculator once a range exists.

The next step

Obtain professional due diligence before any bid: the title search, the society statement and the Debts Recovery Tribunal check. The price cannot be judged until asking-price comparables are filed.

Analysis date 27 October 2026 · Method: NITARYA auction evaluation method v1Reviewer status: not yet reviewed by a partnerUnresolved questions: A valuation range from asking prices; society dues; the inspection.
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