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1) Intending bidders are to deposit, for participating in the Auction, a refundable caution deposit of Rs.25,000/- (Rupees twentyfive thousand only). This will be refunded to the bidders after the conclusion of the Auction. 2) The successful bidder should deposit the Earnest Money indicated against the property on the sale being knocked down in his favour. 3) 25% of the bid amount less amount already paid should be paid within 7 days of the auction and the balance bid amount should be paid within 30 days from the date of Auction Sale, failing which the amount already paid will be forefeited. In case of bid amount exceeding Rs.50 lakhs, the 25% of the amount should be paid within 30 days and the balance amount will be paid within 90 days from the date of confirmation of sale by the Chief Commissioner of Income Tax-II, Chennai, India. 4) All payments are to be made by crossed Pay Orders or Demand Drafts drawn on any bank in Madras City in favour of the Chief Commissioner of Income Tax-II, Chennai, India. 5) Legal charges for conveyance and stamp duty and registration charges, as applicable will be borne by the purchaser. 6) The intending bidders may inspect the property on all working days between 10 A.M. and 5 P.M. from 03-06-2002 till the date of Auction after fixing a prior appointment with ITO (HQ)(Estates), Income Tax Department at Chennai. The details of the nature of the property could be verified by the bidder at the time of inspection. Copies of documents are also available with Deputy Commissioner of Income Tax (HQ), O/o. CCIT-II, Chenai, India. 7) The Auction is subject to the General and Special conditions laid down in the Auction catalogue which can be obtained free of cost from the Auctioneers or from the Public Relations Officer, Income Tax Department, 121, Mahatma Gandhi Road, Chennai - 600 034, India. 8) For further particulars, the following may be contacted:
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