HUDCO Announces E-Auction for Sale of Mortgaged Property in Madhya Pradesh

New Delhi, May 9: HUDCO has announced an e-auction for the sale of mortgaged immovable property in Madhya Pradesh. The auction has been initiated after symbolic possession of the assets was taken by the authorised officer of HUDCO.

Property Details

The secured asset includes land parcels located at Bhikangaon on the Khandwa-Baroda Highway in Khargone district. The properties measure approximately 0.032 hectare and 0.030 hectare. The property will be sold on an "as is where is" and "as is what is" basis along with any existing encumbrances.

Reserve Price and Outstanding Dues

The outstanding dues in the loan account stand at over 197.68 lakh as of February 28, 2026, along with applicable future interest, penal charges and other costs. The reserve price for the property has been fixed at 144.44 lakh, while the earnest money deposit (EMD) has been set at 14.44 lakh.

Auction Timeline

Interested bidders must submit the EMD and supporting documents by June 8, 2026, before 4:00 PM. The e-auction will be conducted on June 9, 2026, between 11:00 AM and 1:00 PM through an online bidding platform. Participants must complete registration, submit identity and financial documents, and obtain a valid digital signature to take part.

Payment Terms and Conditions

The successful bidder must deposit 25 per cent of the bid amount immediately after confirmation, with the remaining 75 per cent payable within 15 days. All expenses related to registration, stamp duty and statutory charges will be borne by the buyer. HUDCO has advised bidders to carry out independent due diligence regarding statutory liabilities and property encumbrances before participating. The sale notice has also been treated as a statutory 30-day notice to the borrower and guarantors.